Toby Bulgin

What makes the picture slightly unusual is that his last 12 months look identical to his season figures — 3 wins from 22 runners — suggesting the yard has been ticking along at a steady, consistent pace rather than going through dramatic peaks and troughs. For a trainer still finding his feet, consistency is not nothing.

There is not yet a standout story here — no course that Bulgin dominates, no big-race moment, no horse that has put his name in lights. But every established trainer started somewhere, and four years in is still early. The ones worth watching are often the quiet operators who improve steadily year on year. Whether Bulgin is one of those is a question the next few seasons will answer.