Company No: 15787685 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.12.2024
		£
Fixed assets
Tangible assets	3	76,464
		76,464
Current assets
Debtors	4	15,000
Cash at bank and in hand		4,948
		19,948
Creditors: amounts falling due within one year	5	( 105,552)
Net current liabilities		(85,604)
Total assets less current liabilities		(9,140)
Net liabilities		( 9,140)
Capital and reserves
Called-up share capital	6	100
Profit and loss account		( 9,240 )
Total shareholder's deficit		( 9,140)

For the financial period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the company to obtain an audit of its financial statements for the financial period in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Lockerley Vines Limited (registered number: 15787685) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Mr L P Davy-Martin Director

30 September 2025

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Lockerley Vines Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is First Floor, 5 Fleet Place, London, EC4M 7RD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Reporting period length

The financial statements are presented for a period shorter than one year from incorporation on 19 June 2024 up to 31 December 2024 to align with other entities in its group.

Biological assets

The biological asset held by the company is a vineyard .

Vineyard establishment represents the expenditure incurred to plant and maintain the new vineyards until the vines reach productivity. Once the vineyards are productive the accumulated cost is transferred to mature vineyards and depreciated over the expected useful economic life of the vineyard. Vineyard establishment is not depreciated.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, 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.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2. Employees

	Period from 19.06.2024 to 31.12.2024
	Number
Monthly average number of persons employed by the company during the period, including directors	2

3. Tangible assets

	Biological assets		Total
	£		£
Cost
At 19 June 2024	0		0
Additions	76,464		76,464
At 31 December 2024	76,464		76,464
Accumulated depreciation
At 19 June 2024	0		0
At 31 December 2024	0		0
Net book value
At 31 December 2024	76,464		76,464

4. Debtors

	31.12.2024
	£
Other debtors	15,000

5. Creditors: amounts falling due within one year

	31.12.2024
	£
Trade creditors	1,320
Amounts owed to group undertakings	101,048
Other creditors	3,184
	105,552

6. Called-up share capital

	31.12.2024
	£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100

7. Related party transactions

The land on which the company’s vineyard is established is owned personally by the directors, C B K Pollock and D Luhde-Thompson . There is currently no formal lease or contractual agreement in place governing the company’s access to or use of the land. The company has been granted informal, rent-free access to the land.