Half-year Report

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	Unaudited 6 months 30/06/26 £'000	Unaudited 6 months 30/06/25 £'000
Turnover	10,285	9,673
Cost of sales	(8,727)	(8,235)
Gross profit	1,558	1,438
Administrative expenses	(1,802)	(1,715)
Other operating income	-	-
(Loss)/profit before interest and tax	(244)	(277)
Interest receivable and similar income	193	145
Interest payable and similar charges	-	(14)
(Loss)/profit before taxation	(51)	(146)
Tax (charge)/credit	(37)	(15)
(Loss)/profit after taxation	(88)	(161)

Loss / Profit per share (basic and diluted)	(2.62)p	(4.81)p

	Unaudited 6 months 30/06/26 £'000	Unaudited 6 months 30/06/25 £'000
(Loss)/profit for the period	(88)	(161)
Remeasurement of the net defined pension liability	-	-
Deferred tax on remeasurement	-	14
Total comprehensive (loss)/income for the period	(88)	(147)

	Unaudited 30/06/26 £'000	Audited 31/12/25 £'000
Fixed assets
Tangible assets	41,497	41,512
Investments		-
	41,497	41,512
Current assets
Stocks	49	29
Debtors: amounts falling due after more than one year	3,575	3,569
Debtors: amounts falling due within one year	1,884	2,033
Short term deposits at bank	5,000	5,231
Cash at bank and in hand	4,869	3,533
	15,377	14,395
Creditors: amounts falling due within one year	(5,109)	(4,090)
Net current assets	10,268	10,305
Total assets less current liabilities	51,765	51,817
Creditors: amounts falling due after more than one year	-	-
Provisions for liabilities
Provisions	(4,101)	(4,065)
Pension liability	-	-
Net assets	47,664	47,752
Capital grants
Deferred capital grants	-	-
Capital and reserves
Called up share capital	335	335
Share premium account	10,202	10,202
Revaluation reserve	75	75
Equity reserve	143	143
Profit and loss account surplus	36,909	36,997
Shareholders' funds	47,664	47,752
Net assets	47,664	47,752

GROUP	Share Capital £'000	Share Premium £'000	Capital redemption Reserve £'000	Revaluation reserve £'000	Profit and loss account £'000	Total £'000
At 1 January 2026	335	10,202	143	75	36,997	47,752
Loss for the period to 30 June 2024	-	-	-	-	(88)	(88)
Other comprehensive income	-	-	-	-	-	-
Total Comprehensive income					(88)	(88)
At 30 June 2026	335	10,202	143	75	36,909	47,664

GROUP	Share Capital £'000	Share Premium £'000	Capital redemption Reserve £'000	Revaluation reserve £'000	Profit and loss account £'000	Total £'000
At 1 January 2025	335	10,202	143	75	36,541	47,296
Loss for the period to 30 June 2024	-	-	-	-	(161)	(161)
Other comprehensive income	-	-	-	-	14	14
Total Comprehensive income					(147)	(147)
At 30 June 2025	335	10,202	143	75	36,394	47,149

	Unaudited 6 months 30/06/26	Unaudited 6 months 30/06/25
	£000	£000
Cash flows from operating activities
(Loss)/profit for the financial period	(88)	(161)
Adjustments for:
Exceptional items	-	-
Amortisation of capital grants	-	(6)
Depreciation charges	826	730
Interest paid	-	14
Interest received	(193)	(145)
Tax charge /(credit)	37	15
Decrease/(increase) in stocks	(20)	(29)
Decrease/(increase) in debtors	210	(104)
Increase in creditors	999	1,369
Corporation tax paid	-	-
Other associated property receipts	15	24
Pension funding deficit payments	-	-
Net cash generated from operating activities	1,786	1,707
Cash flows from investing activities
Purchase of fixed assets	(791)	(1,120)
Interest received	110	15
Cash transferred to short term deposits	-	(3,000)
Net cash from investing activities	(681)	(4,105)
Net Increase/(decrease) in cash and cash equivalents	1,105	(2,398)
Cash and cash equivalents at beginning of period	8,764	5,416
Cash and cash equivalents at the end of period	9,869	3,018

Summary by AI ^BETAClose X

Companies

UK 100

Latest directors dealings

30 June 2026	Turnover £'000	Gross Profit £'000	Operating (Loss)/profit before exceptional items £'000	(Loss)/profit before tax £'000	*Net Assets £'000
Racecourse Trading	8,281	541	(810)	(737)	37,809
Nursery	1,482	768	535	535	3,704
Hotel	500	227	25	25	1,578
Property	22	22	6	89	4.573
Total	10,285	1,558	(244)	(88)	47,664

30 June 2025	Turnover £'000	Gross Profit/(Loss) £'000	Operating (Loss)/profit before exceptional items £'000	(Loss)/profit before tax £'000	*Net Assets £'000
Racecourse Trading	7,888	567	(721)	(673)	37,271
Nursery	1,291	640	424	424	3,754
Hotel	471	208	23	13	1,570
Property	24	24	7	90	4,561
Total	9,673	1,438	(277)	(146)	47,156

GROUP	Freehold property £'000	Fixtures and fittings £'000	Tractors and motor vehicles £'000	Total £'000
Cost or valuation
As at 1 January 2026	56,330	10,410	315	67,055
Additions	489	323	-	812
Disposals	-	-	-	-
At 30 June 2026	56,819	10,733	315	67,867
Depreciation
At 1 January 2026	20,270	5,064	209	25,543
Charge for year	357	462	8	827
Disposals	-	-	-	-
At 30 June 2026	20,627	5,526	217	26,369
Net book value at 30 June 2026	36,192	5,207	98	41,497
Net book value at 31 December 2025	36,060	5,346	106	41,512

In 1959 a revaluation of part of the freehold land at £117,864 gave rise to an excess of £75,486 over its cost and this sum is included in the total value of this asset. The excess on revaluation is credited to the Revaluation Reserve. The net book value of freehold land and buildings (and excluding outdoor fixtures) determined by the historical cost convention is £30,140,000 (2025: £30,430,000). In 2018 the board revisited the residual values and useful economic lives of the land enhancements and major buildings on the site. Savills were instructed to provide an estimate of the residual values and these were applied in re estimating the depreciation charge for those assets. There was no further change in the residual values or useful economic lives during 2026.

	30/06/26 £'000	30/06/25 £'000
Authorised
Ordinary shares of 10p each	600	600
Total	600	600

	30/06/26 £'000	30/06/25 £'000
Allotted and fully paid
Ordinary shares of 10p each	335	335
Total	335	335

Half-year Report

Summary by AI BETAClose X

Companies

UK 100

Latest directors dealings

Summary by AI ^BETAClose X