Annual report and financial statements

The directors present their report, together with the financial statements, on the company for the year ended 31 December 2025.

Ascot Racecourse Betting & Gaming Limited (“the company”) operates horse racing pool betting at Ascot Racecourse.

The Ascot Authority (Holdings) Limited group monitors performance as a whole and a complete review of the business and its future prospects is included in the Directors’ Report of the ultimate parent company’s financial statements, Ascot Authority (Holdings) Limited, company registered no: 04274507. Both the level of business and the financial position at 31 December 2025 were satisfactory. The directors anticipate a similar level of profitability in the foreseeable future.

The profit for the financial year is £1,108,000 (2024: £1,458,000). The directors do not recommend the payment of a dividend for the year ended 31 December 2025 (2024: £nil).

The directors of the company who held office during the year and up to the date of the signing of the financial statements, unless otherwise stated, were as follows:

As permitted by the Articles of Association, the Directors have the benefit of an indemnity provided by Ascot Authority (Holdings) Limited for directors and officers of group companies which is a qualifying third party indemnity provision as defined by Section 234 of the Companies Act 2006. The indemnity was in force throughout the last financial year and is currently in force.

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 and section 414B of the Companies Act 2006 and a strategic report is not included.

The company’s results are insulated to a degree from bookmaking risk due to the pool betting nature of its earnings. The bookmaking industry is subject to specific taxation provisions and regulatory restrictions imposed by the Government. Under the terms of the operating licence granted by the Gambling Commission the company operates as an agent of UK Tote Group Limited which holds the ultimate regulatory responsibility. The gaming industry is particularly susceptible to legislative changes specifically in regard to taxation laws and rates, licencing regulations and changes in general government attitudes towards gaming. The company is susceptible to potentially fraudulent activity from customers including money laundering due to the levels of cash transacting across the business. The company has policies and procedures in place to detect and deter this sort of activity.

The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have prepared the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”, and applicable law).

Under company law, directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements, the directors are required to:

The directors are responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are also responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006.

In the case of each director in office at the date the directors’ report is approved:

In accordance with section 479A of the Companies Act 2006 (“the Act”), the company, as a wholly owned subsidiary of a company registered in the United Kingdom, is entitled to exemption from audit as conferred by the Act.

On behalf of the directors

All results derive from continuing operations.

The company has no other comprehensive income or expense other than the results above, and therefore no separate statement of total comprehensive income is presented.

The notes on pages 7 to 11 are an integral part of these financial statements.

For the year ending 31 December 2025 the company was entitled to exemption from audit under section 479A of the Companies Act 2006 relating to subsidiary companies.

Directors’ responsibilities:

The financial statements on pages 4 to 11 were approved by the board of directors and were signed on its behalf by:

Registered no: 10732757

Date: 19 May 2026

Ascot Racecourse Betting & Gaming Limited (‘the company’) is a private company limited by shares and is incorporated in the United Kingdom. The address of its registered office is Ascot Racecourse, High Street, Ascot, England SL5 7JX and the financial statements are available at this address.

The financial statements of Ascot Racecourse Betting & Gaming Limited have been prepared in compliance with United Kingdom Accounting Standards, including Financial Reporting Standard 102, “The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland” (“FRS 102”) and the Companies Act 2006.

These financial statements are prepared on a going concern basis, under the historical cost convention.

These financial statements have been prepared on a going concern basis, which assumes that the company will be able to meet its obligations as and when they fall due for the foreseeable future.

After making appropriate enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors therefore consider it is appropriate to adopt the going concern basis in preparing the financial statements.

As permitted by FRS 102 paragraphs 1.11 and 1.12, having previously obtained shareholder approval to do so, the company has made use of the exemptions from:

The company is a wholly owned subsidiary of Ascot Authority (Holdings) Limited. Its result is included in the consolidated financial statements of Ascot Authority (Holdings) Limited which are publicly available. These financial statements are the company’s separate financial statements.

Turnover is measured at the fair value of total amounts wagered less amounts payable to winning customers, together with a share of stakes transmitted into UK based pools of Ascot races, from UK and international betting partners. Amounts wagered on course comprise gross stakes in respect of individual bets placed on pool betting products in the period on the racecourse.

Betting terms and conditions state that amounts payable to winning customers can be claimed within thirteen months of the transaction date. Amounts payable to winning customers are credited to the profit and loss account if not claimed by the customer within three months of the transaction date. If amounts payable to winning customers are subsequently claimed they are reversed from the profit and loss account and the liability is settled.

Tangible fixed assets are stated at the cost of purchase or construction less accumulated depreciation and impairment losses. Borrowing costs are not capitalised within the value of fixed assets. Depreciation is calculated so as to write off the cost of tangible fixed assets, less their estimated residual values, on a straight line basis over the expected useful economic lives of the assets concerned (or the length of the site lease where shorter), as follows:

The assets’ residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Taxation expense for the year comprises current and deferred tax recognised in the reporting year, reflected in either the profit and loss account or the statement of other comprehensive income depending on where the related item is recognised.

Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the year or prior years using tax rates and laws that have been enacted or substantively enacted by the year end. The directors periodically evaluate positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. They establish provisions where appropriate on the basis of the amounts expected to be paid to the tax authorities.

Deferred tax, which arises from timing differences between taxable profits and total comprehensive income as stated in the financial statements, is recognised on all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are only recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Current or deferred tax assets and liabilities are not discounted.

Trading losses unable to be utilised in the same year may be carried back to earlier accounting periods or carried forward to be set off against the profit for future periods.

The company provides a range of benefits to employees including annual bonus arrangements, paid holiday arrangements and defined contribution pension plans. Short term benefits, including holiday pay and similar non-monetary benefits, are recognised as an expense in the year in which the service is rendered.

The company operates defined contribution pension plans for its employees, under which the company pays fixed contributions into a separate entity. Once contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense when they are due. The assets of the plans are held separately from the company in independently administered personal pension funds.

The company operates an annual bonus plan for employees. An expense is recognised in the profit and loss account where the company has a legal or constructive obligation to make payments under the plans as a result of past events.

The company has chosen to adopt Sections 11 and 12 of FRS102 in respect of financial instruments.

Basic financial instruments, including trade and other receivables and payables, and cash and bank balances are recognised at transaction price less transaction costs. Such assets are subsequently carried at amortised cost using the effective interest method.

The company is exempt under the terms of FRS102 paragraph 33.1 from disclosing related party transactions with entities that are part of Ascot Authority (Holdings) Limited group.

The company discloses transactions with related parties which are not wholly owned within the same group. It does not disclose transactions with members of the same group that are wholly owned. Where appropriate, transactions of a similar nature are aggregated unless, in the opinion of the directors, separate disclosure is necessary to understand the effect of the transaction on the company financial statements.

Interest payable on amounts owed to group undertakings is charged to the profit and loss account in the year to which it relates.

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The company makes estimates and assumptions concerning the future. The directors do not consider that any of the accounting judgements or estimates made have a significant risk of causing a material adjustment to the carrying values of assets and liabilities in the next financial year.

The turnover is attributable to the principal activities of the company and is derived wholly within the United Kingdom. Turnover is derived from only one class of business.

The company has taken the exemption from audit under section 479A of the Companies Act 2006 for the year ended 31 December 2025. Accordingly, no audit fees were paid during the year (2024: £nil).

Employees

The average monthly number of persons (including directors) employed by the company during the year was:

Directors

No director is employed nor remunerated by the company (2024: none), directors are employed and remunerated by Ascot Racecourse Limited for their services to various companies in the Ascot Authority (Holdings) Limited group. The proportion of their emoluments which relates to management of the affairs of the company is recharged and amounts to £69,000 (2024: £74,000). The emoluments and any retirement benefits due to these directors are further disclosed in the financial statements of Ascot Authority (Holdings) Limited.

b) Reconciliation of tax charge

Tax assessed for the year is lower (2024: lower) than the standard rate of corporation tax in the United Kingdom for the year ended 31 December 2025 of 25.0% (2024: 25.0%). The differences are explained below:

c) Deferred tax

Amounts owed by group undertakings are in respect of non-instalment debts which are unsecured and receivable by 2045. Interest is received at 0.5% below the rate (2024: 0.5%) received by Ascot Authority (Holdings) Limited on its cash deposits.

100,000 (2024:100,000) ordinary shares of £1 each

The immediate parent undertaking is Ascot Authority (Holdings) Limited which is also the parent undertaking of the smallest and largest company to consolidate these financial statements. Copies of the consolidated financial statements of Ascot Authority (Holdings) Limited are available from its registered office: The Company Secretary, Ascot Racecourse, Ascot, Berkshire SL5 7JX.

Sir Francis Brooke Bt., H M C Morley and Lady Celina Carter are non-beneficial Trustees of the Ascot Authority, a body which owns the entire share capital of Ascot Authority (Holdings) Limited. The Ascot Authority is therefore the ultimate parent undertaking of the company and the above Trustees are therefore the ultimate controlling parties. The Ascot Authority is the parent of the only group including the company. The Ascot Authority is not required to prepare consolidated financial statements, its principal place of business is Ascot Racecourse, Ascot, Berkshire SL5 7JX.