Company registration number 05275829 (England and Wales)
BLENDS WINE ESTATES UK LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
PAGES FOR FILING WITH REGISTRAR
BLENDS WINE ESTATES UK LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
BLENDS WINE ESTATES UK LTD
BALANCE SHEET
AS AT
30 JUNE 2025
30 June 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,454
2,553
Current assets
Debtors
5
1,506,880
1,623,637
Cash at bank and in hand
9,187
77,956
1,516,067
1,701,593
Creditors: amounts falling due within one year
6
(51,568)
(153,123)
Net current assets
1,464,499
1,548,470
Total assets less current liabilities
1,465,953
1,551,023
Capital and reserves
Called up share capital
7
24,680
24,680
Profit and loss reserves
1,441,273
1,526,343
Total equity
1,465,953
1,551,023

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 6 March 2026 and are signed on its behalf by:
G A Crespo Cazorla
Director
Company registration number 05275829 (England and Wales)
BLENDS WINE ESTATES UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
- 2 -
1
Accounting policies
Company information

Blends Wine Estates UK Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Acre House, 11-15 William Road, London, United Kingdom, NW1 3ER.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Notwithstanding net assets of £1,465,953 at 30 June 2025 and a loss for the year of £85,070, the financial statements have been prepared as a going concern, on the basis that the company has the financial support of the group to cover obligations as they fall due for a period of at least 12 months from the date of signing these financial statements.true

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

Revenue is recognised in respect of trade sales once the sales have been made and the goods have been loaded on the vessel or have been collected by the custome r.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Office equipment
3 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

BLENDS WINE ESTATES UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable 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.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

BLENDS WINE ESTATES UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 4 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The directors consider there not be any significant judgements or key sources of estimation uncertainty in the financial statements.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
2
4
Tangible fixed assets
Office equipment
£
Cost
At 1 July 2024 and 30 June 2025
21,055
Depreciation and impairment
At 1 July 2024
18,502
Depreciation charged in the year
1,099
At 30 June 2025
19,601
Carrying amount
At 30 June 2025
1,454
At 30 June 2024
2,553
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,496,527
1,617,935
Other debtors
5,426
1,268
Prepayments and accrued income
4,927
4,434
1,506,880
1,623,637
BLENDS WINE ESTATES UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 5 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
7,130
97,997
Taxation and social security
1,905
3,666
Other creditors
1,605
2,810
Accruals and deferred income
40,928
48,650
51,568
153,123
7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary shares of 1p each
2,467,952
2,467,952
24,660
24,660
B Ordinary shares of £1 each
10
10
10
10
Preferred Ordinary Shares of £1 each
10
10
10
10
2,467,972
2,467,972
24,680
24,680

Other than on liquidation, the shares rank pari passu. On liquidation, the preferred ordinary shareholders receive the first £3,000,000 distribution of net distributable assets, the ‘B’ ordinary shareholders will receive the next £1,000,000 of net distributable assets and the ‘A’ shareholders will receive the next £1,000,000 of distributable assets. After these distributions the ‘A’ and ‘B’ Ordinary shareholders will receive £1 each of every £2 of distributable assets. Next the holders of the equity shares will be paid the amounts respectively paid up or credited as paid and lastly, the balance (if any) shall be distributed between the holders of the equity shares (as if one and the same class) pro rata to the number of equity shares respectively held by them.

8
Contingent liabilities

Securities are held by National Westminster Bank PLC by a fixed and floating charge over the assets of the company for any monies due or that become due from the Company to the Bank on any account whatsoever.

9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 30 June 2025 and of its loss for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

BLENDS WINE ESTATES UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
9
Audit report information
(Continued)
- 6 -
Senior Statutory Auditor:
Dean Stevens
Statutory Auditor:
HW Fisher Audit
Date of audit report:
9 March 2026
10
Controlling party

The ultimate controlling company is Clearspring s Limited.

The largest and smallest group of undertakings for which publicly available consolidated accounts are prepared is that headed by Macintex S.A., the immediate parent company which is incorporated in Uruguay. Copies of the consolidated accounts can be obtained from Av. Luis Alberto de Herrera 1248 Of. 2105- Torre II- World Trade Center 11300 - Montevideo - Uruguay.

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