12.45pm: There are still some delays on the A435 and through the Charlton Kings area of Cheltenham. Traffic is now starting to improve on all other routes to the racecourse.

11.30am: Traffic is currently slow but moving on all routes into the Racecourse. The South Car Park is now full and closed and racegoers coming from the North (Bishops Cleeve/Winchcombe) are asked to follow signs for the North Car Park.  Drivers are thanked for their patience and are asked not to leave large gaps in between vehicles and to follow instructions given by officers.

10.45am: All routes into the Racecourse are experiencing some delays but traffic is moving.

Racegoers are asked to be patient and follow instructions given by officers.

The South Car Park is now closed to members of the public, however there is still room to accomodate coaches.

10.30am: There are currently some delays between junction 9 and 10 of the M5 due to the volume of traffic.

Traffic is heavy but flowing on all other routes surrounding the racecourse.

10.15am: All three lanes on the M5 Northbound are now open and moving following a road traffic collision near junction 10.

Traffic on London Road and Hales Road is starting to build up but is still moving. All other routes surrounding the racecourse are currently flowing well.

8.50am: The vehicle in the crash on the M5 has now been cleared and traffic is starting to move again.

8.40am: Racegoers are advised that there are currently delays on the M5 Northbound following a road traffic collision near junction 10.

7am: Let battle commence as stablemates and previous winners Kauto Star and Denman go up against each other in the crowning glory of Cheltenham Festival the Gold Cup.

Punters are in for a mixed day weather wise with a chance of rain and form experts say the wet weather overnight could help Denman in the fight to claim victory.

About 60,000 racegoers are expected at Prestbury Park for the big event in what is the highlight of the day and indeed the week for many punters.

Yesterday, it was a case of 'here come the girls' as it was not just the jockeys wearing the bright colours as the women turned out in their finery for Ladies Day. Celebrities such as Cheryl Cole and Katie Price were spotted at the event.

Cheltenham’s Carley Shave was front runner in the fashion stakes and was crowned best-dressed lady.

The 25-year-old, from Suffolk Road, was the pick of the paddock in a black and white outfit bought for her as a birthdays present by her mum Karen.

Carley, who is working as a temp in a bank in Cheltenham, won 12 months’ use of an Alpha Romeo and champagne for the glamorous effort.

The keen racing fan said: “I never intended to enter the competition as I always think someone with a silly outfit will win. I’m really excited.

“I’ve been to the festival every year for the last seven. I’m addicted to horses and come to all the meetings.”

Her outfit, which cost about £450, came from Hobbs and her hat from The Hat Shop in Charlton Kings.

But it wasn’t only glamour pusses in the stands who turned heads at Ladies Day as the Cheltenham Festival held its first ever charity race.

Twelve amateur women riders took to the track at Prestbury Park to raise more than £100,000 for Cancer Research UK.

riders included Tewkesbury MP Laurence Robertson’s partner Annie Adams, Cheltenham-based interior designer Germaine Oliver, and Cheltenham-born Amy Weaver.

The plucky girls were cheered on by punters as they charged up the home straight.

Dublin-based barrister Orna Madden took the spoils by a short head from Kate Doyle, who was on an Alan King trained horse.

After the race Annie, who finished unplaced, said: “It was absolutely fantastic. The speed was brilliant. It was a thrill to ride at Cheltenham with the crowd. “

Mum of three Germaine, who lost her mum to cancer, said: “I think the race is an excellent idea. It’s been very well received and the money that’s been raised has ben phenomenal.”

The 49-year-old, who started riding again two years ago after a break of 20 years from the saddle, added: “I’m probably the oldest person to ride this festival.”

Race horse boss Edward Gillespie was delighted with the interest in the race and the entrants.

He said: “It’s a really good cross section of people who are enthusiastic. I rode in a charity race myself 20 years ago and I still think it through quite frequently. This experience will never leave them.”

Among the crowds yesterday was media tycoon Robert Murdoch and his daughter Elisabeth, Rebecca Wade, former editor of The Sun and current editor Dominic Mohan.

Earlier in the day Royal Zara Phillips and rugby star boyfriend Mike Tindall turned out to watch the Queen’s horse Barbers Shop. Also reported to be in the crowd was singer Cheryl Cole and glamour girl Katie Price.

One race-goer with extra reason to celebrate was Paul Stewart.

The 29 year old, whose family own World Hurdle Big Bucks, has had to overcome much bigger odds than the horse did in racing to walk again.

Paul, from London sustained serious spinal injuries in a snowboarding accident in 2008 and was told he would never walk again.

But miraculously and through a lot of hard work he was able to walk, with the aid of sticks, to greet the impressive hurdler after his effortless win in the feature race.

“Last year I took my first steps out of a hospital environment at the festival. It was my goal to walk at the festival,” he said. “Now I hardly use a wheelchair.

“Next year I want to try and walk without walking sticks at Cheltenham.”

Friends Emrys Jones and Gwyn Hamer have enjoyed 80 years of the Cheltenham Festival between them.

The pair, from Wales, have each travelled to Prestbury Park for the showcase event for the last 40 years.

The course holds some special memories for Mr Jones, 70, from Chepstow as his horse Big Strand won the Coral Cup for him 13 years ago.

He said: “The festival is just a one off experience which is so different to the rest of the racing season. Everybody is here with their horses in tip top form and it doesn’t matter if you pay £200,000 for a horse, so many have got a chance.

“It brings back special memories of having a runner here.”

Highlights for Mr Hamer, 74, from Newport include watching Istabraq win the Champion Hurdle and Best Mate’s race to glory in the Gold Cup in years gone by.

He said: “You get quality horses at the festival and every horse is doing it’s very best.

“The course is always in pristine condition and it’s a lovely day out.

“It’s probably changed for the better over 40 years - it’s the finest National Hunt racecourse in the world.”

The day saw 50,119 punters through the gates, about 1,500 more than last year. Police arrested five people for offences including ticket theft, betting card theft and counterfeit cash.