Premium Vineyard Company UK Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 09307058 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

PREMIUM VINEYARD COMPANY UK LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr M P J F Perrin

Mr A D Bayley

REGISTERED OFFICE:

19-20 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

REGISTERED NUMBER:

09307058 (England and Wales)

AUDITORS:

Xeinadin Audit Limited, Statutory Auditor

8th Floor, Becket House

36 Old Jewry

London

EC2R 8DD

FIXED ASSETS

Tangible assets

4

53,171

12,381

Investments

5

106,051

159,222

118,432

CURRENT ASSETS

Stocks

361,987

52,815

Debtors

3,865,048

3,875,993

Cash at bank

7,929,387

6,766,259

12,156,422

10,695,067

CREDITORS

Amounts falling due within one year

4,133,167

3,695,742

NET CURRENT ASSETS

8,023,255

6,999,325

TOTAL ASSETS LESS CURRENT
LIABILITIES

8,182,477

7,117,757

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

8,182,476

7,117,756

SHAREHOLDERS' FUNDS

8,182,477

7,117,757

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 November 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 September 2025 and were signed on its behalf by:

Mr M P J F Perrin - Director

1.	STATUTORY INFORMATION

Premium Vineyard Company UK Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Critical accounting judgements and key sources of estimation uncertainty

Estimates and judgments are continually evaluated and are based on historical experience and other factors,including expectations of future events that are believed to be reasonable under the circumstances.

The items in the financial statements where these judgements and estimates have been made include:

- the provision required for any bad or doubtful debts,

- impairment for any intercompany balances,

- assessing the useful economic lives attributed to tangible fixed assets used to determine the annual depreciation charge.

- the provision required for obsolete and slow moving stock.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. The company assesses at each reporting date whether tangible fixed assets are fully impaired.

Depreciation methods, useful lives and residual values are reviewed if there is an indication of a significant change since last annual reporting date in the pattern by which the company expects to consume an asset's future economic benefits.

Investments in subsidiaries and associates

Investments in subsidiary and associate undertakings are recognised at cost.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Provision is made for damaged, obsolete and slow moving stock where appropriate.

Financial instruments

Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow Group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The directors have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The directors have made this assessment in respect to a period of one year from the date of approval of these accounts.

The directors have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The directors are of the opinion that the company will have sufficient resources to meet its liabilities as they fall due.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 December 2023

27,080

Additions

58,515

At 30 November 2024

85,595

DEPRECIATION

At 1 December 2023

14,699

Charge for year

17,725

At 30 November 2024

32,424

NET BOOK VALUE

At 30 November 2024

53,171

At 30 November 2023

12,381

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST OR VALUATION

At 1 December 2023

and 30 November 2024

105,924

NET BOOK VALUE

At 30 November 2024

105,924

At 30 November 2023

105,924

Cost or valuation at 30 November 2024 is represented by:

Totals

£

Cost

105,924

Investments (neither listed nor unlisted) were as follows:

2024

2023

as restated

£

Other investments

127

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nicola McGuffie FCCA (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited, Statutory Auditor

7.	CONTINGENT LIABILITIES

There were no contingent liabilities at either the beginning or the end of the financial year.

8.	CAPITAL COMMITMENTS

The company has no capital commitment at 30 November 2024 and 30 November 2023.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2024 and 30 November 2023:

2024

2023

as restated

£

Mr M P J F Perrin

Balance outstanding at start of year

674

110

Amounts advanced

1,153

674

Amounts repaid

(674

)

(110

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

1,153

674

Mr M P M J Perrin

Balance outstanding at start of year

5,948

Amounts advanced

-

5,948

Amounts repaid

(5,948

)

(5,948

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

-

5,948

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

At the balance sheet date, the company owed £474 (2023 - £474) to Veritable Negociant GmBH a company incorporated in Germany and connected by virtue of common directors and shareholders.

At the balance sheet date, the company was owed £1,421,158 (2023 - £1,407,087) by SCI Quatro, £1,511,94 (2023 - £1,496,133) by SCI Trio and £85,000 (2023 - £nill) by Distillerie de la Rviera, companies connected by virtue of common directors and shareholders.

11.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

12.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary undertaking of Perrin & Fils SAS, a company incorporated and domiciled in France.