Board Meeting Summary
Meeting Date: Tuesday 9th December 2025
ANNUAL REPORT AND ACCOUNTS 2024-2025 APPROVAL
The Board approved the HBLB Annual Report and Accounts for 2024-25. The Executive advised the Board that a press release would follow once the Accounts had been laid before Parliament.
CHAMPIONS FULL GALLOP – SERIES 3: DECISION
The Board noted that there was currently no funding from any non-HBLB source for a third series of Champions: Full Gallop, and agreed that, in these circumstances, HBLB did not wish to be sole funder of the series, even at a reduced cost option.
NON-FIXTURE GRANTS 2026 – OUTSTANDING DECISION
The Board approved a funding request from the Point-to-Point Authority for a Horse Welfare project (protective privacy screens and compression boots).
NON-FIXTURE GRANTS – LESSONS LEARNED
The Board had an initial review of the process for assessment of the non-fixture grant applications received for 2026, noting that this had an intensive task given that these were all considered in one batch by the Executive and then by the Board. It was agreed that the Executive would bring back proposals taking account of the Board’s feedback.
HBLB Confirms £10.5m in Non-Fixture Related Grant Funding in 2026
HBLB LOANS SUMMARY
The Board noted a summary of loans currently being made by HBLB.
DCMS UPDATE
The Board received an update from a DCMS delegation on areas relating to HBLB.
GREAT BRITISH RACING – PRESENTATION
The Board received a presentation from Great British Racing and approved funding for The Going is Good – Year 2.
HORSE WELFARE BOARD – PRESENTATION
The Board received a presentation from the Horse Welfare Board.
GREAT BRITISH BONUS SCHEME STRUCTURE 2026
The Board considered the GBB Bonus Scheme Structure for 2026 and approved a proposal for the transfer of funds from the Elite Mares Scheme budget for 2026 to the GBB Bonuses budget for 2026.
BHA PENSION TRUSTEES’ ANNUAL REPORT 2025
The Board noted the BHA Pension Trustees’ Annual Report.
RCA PROGRAMME PROTECTION PAYMENTS REVIEW 2025
The Board noted an RCA Programme Protection Payments Review 2025, including a performance summary of PPP fixtures for 2025.
CAPITAL CREDITS APPLICATIONS
The Board approved Capital Credits Grants for Leicester, Musselburgh, Salisbury, Thirsk and Wetherby.
MANAGEMENT ACCOUNTS TO 31 OCTOBER 2025
The Board approved the Management Accounts to 31 October 2025.
LORD RISBY AND DAVID ARMSTRONG
The Board noted that it was the final meeting for Lord Risby and David Armstrong with their tenures as Board members coming to an end on 31 December 2025. The Board thanked them for their commitment to serving the Board and its committees.