Horses work at Ascot as construction of a new grandstand continues

The meeting was relocated to York this year because of a massive �200m redevelopment of the Ascot course.

There had been speculation that the work would not be finished before the five-day royal meeting in June.

But Ascot's chief executive Douglas Erskine-Crum told BBC Radio Five: "We are on budget and on target.

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"We are delighted to confirm that the redevelopment is on target and we will be back at Ascot next year."

As part of the redevelopment, a new grandstand and a new parade ring are being built.

"We firmly believe this is going to be the best racecourse in the world and will change the way people go racing," added Erskine-Crum.

He said there were contingency plans to transfer major races only in the event of an "unforeseeable disaster."

"We definitely won't be going back to York and we won't be going to Newmarket or Newbury. We will be here," he added.

The final �200m bill for the revamp is slightly higher than the initial budget of �185 million.

It is expected the course will reopen for racing for one day next May, before the start of the Royal meeting the following month.