| REGISTERED NUMBER: |
| Polgoon Vineyard Ltd |
| Unaudited Financial Statements |
| for the Year Ended 28th February 2025 |
| REGISTERED NUMBER: |
| Polgoon Vineyard Ltd |
| Unaudited Financial Statements |
| for the Year Ended 28th February 2025 |
| Polgoon Vineyard Ltd (Registered number: 11695822) |
| Contents of the Financial Statements |
| for the Year Ended 28th February 2025 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Polgoon Vineyard Ltd |
| Company Information |
| for the Year Ended 28th February 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 48 Arwenack Street |
| Falmouth |
| Cornwall |
| TR11 3JH |
| Polgoon Vineyard Ltd (Registered number: 11695822) |
| Statement of Financial Position |
| 28th February 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| Polgoon Vineyard Ltd (Registered number: 11695822) |
| Statement of Financial Position - continued |
| 28th February 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Polgoon Vineyard Ltd (Registered number: 11695822) |
| Notes to the Financial Statements |
| for the Year Ended 28th February 2025 |
| 1. | STATUTORY INFORMATION |
| Polgoon Vineyard 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 financial statements cover a single entity. |
| The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements have been rounded to the nearest Pound. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Goodwill |
| Goodwill, being the amount paid in connection with the acquisition of a business in 2019, was amortised in full in its first year. |
| Tangible fixed assets |
| Short leasehold | - |
| Improvements to property | - |
| Plant and machinery | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
| Polgoon Vineyard Ltd (Registered number: 11695822) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28th February 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Financial instruments |
| The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments. |
| (i) Financial assets |
| Basic financial assets including trade, other receivables, 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 future receipts, discounted at a market rate of interest. |
| (ii) Financial liabilities |
| Basic financial liabilities including trade, other payables, bank loans and other loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts, discounted at a market rate of interest. |
| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
| Going concern |
| At the year end the company had net current liabilities and net liabilities and is reliant on the continued support of the directors. The financial statements have been prepared on the going concern basis and the directors believe this is appropriate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1st March 2024 |
| and 28th February 2025 |
| AMORTISATION |
| At 1st March 2024 |
| and 28th February 2025 |
| NET BOOK VALUE |
| At 28th February 2025 |
| At 29th February 2024 |
| Polgoon Vineyard Ltd (Registered number: 11695822) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28th February 2025 |
| 5. | TANGIBLE FIXED ASSETS |
| Improvements |
| Short | to | Plant and |
| leasehold | property | machinery |
| £ | £ | £ |
| COST |
| At 1st March 2024 |
| Additions |
| At 28th February 2025 |
| DEPRECIATION |
| At 1st March 2024 |
| Charge for year |
| At 28th February 2025 |
| NET BOOK VALUE |
| At 28th February 2025 |
| At 29th February 2024 |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1st March 2024 |
| Additions |
| At 28th February 2025 |
| DEPRECIATION |
| At 1st March 2024 |
| Charge for year |
| At 28th February 2025 |
| NET BOOK VALUE |
| At 28th February 2025 |
| At 29th February 2024 |
| Polgoon Vineyard Ltd (Registered number: 11695822) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28th February 2025 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| £ |
| COST |
| At 1st March 2024 |
| and 28th February 2025 |
| DEPRECIATION |
| At 1st March 2024 |
| Charge for year |
| At 28th February 2025 |
| NET BOOK VALUE |
| At 28th February 2025 |
| At 29th February 2024 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Prepayments and accrued income |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts |
| Other loans |
| Hire purchase contracts (see note 9) |
| Trade creditors |
| Social security and other taxes |
| VAT | 44,765 | 48,612 |
| Other creditors |
| Directors' current accounts | 170,056 | 103,404 |
| Accrued expenses |
| Included within other loans is a balance on one loan of £65,000 (2024: £191,703). As there is no formal agreement for this loan, it has been treated as falling due within one year, however it is the intention that this loan will be repaid as cash flow allows and does not have a formal repayment profile. |
| Polgoon Vineyard Ltd (Registered number: 11695822) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28th February 2025 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans - 2-5 years |
| Other loans - 2-5 years |
| Hire purchase contracts (see note 9) |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase |
| contracts |
| 2025 | 2024 |
| £ | £ |
| Gross obligations repayable: |
| Within one year |
| Between one and five years |
| Finance charges repayable: |
| Within one year |
| Between one and five years |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable |
| operating leases |
| 2025 | 2024 |
| £ | £ |
| Within one year |
| Between one and five years |
| Polgoon Vineyard Ltd (Registered number: 11695822) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28th February 2025 |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Bank overdrafts |
| The bank overdraft is secured by fixed and floating charges covering all the property and undertaking of the company. |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary | 1 | 2 | 2 |
| 12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| During the period the company paid rent for the use of premises and land owned by the directors totalling £27,600 (2024: £27,600). |