1.
General Information
Quob Park Estate Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
04797361
. The registered office is Quob Park, Titchfield Lane, Wickham, Fareham, Hampshire, PO17 5PG.
2.
Statement of Compliance
The financial statements have been prepared in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
3.
Accounting Policies
3.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention.
3.2.
Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
3.3.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
3.4.
Intangible Fixed Assets and Amortisation - Intellectual Property
Intangible assets comprise software licences and are initially recognised at cost.
The Company has acquired a licence to use the Quob Park Digital Platform, an integrated enterprise resource planning system used by the Company to manage vineyard operations, winery production, stock control and regulatory compliance.
It is amortised to the income statement on a straight-line basis over its estimated useful economic life of 10 years, reflecting the expected long-term use of the platform within the Company’s operations.
The asset is reviewed for impairment where indicators of impairment exist.
3.5.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Freehold |
|
| Leasehold |
|
| Plant & Machinery |
|
| Motor Vehicles |
|
| Fixtures & Fittings |
|
Quob Park Estate Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
3.6.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
Cost is determined using the first-in, first-out method and includes all direct costs and an appropriate proportion of fixed and variable overheads.
Work in progress includes wine in production and undergoing extended ageing. Due to the nature of premium English sparkling wine production, inventory may be held for a number of years prior to sale in order to achieve the desired quality, characteristics and market positioning.
The directors consider that extended ageing is a key driver of product quality and value, and that the Company’s production approach is designed to support premium pricing over time.
The carrying value of work in progress is supported by expected future selling prices based on current pricing, contracted and anticipated demand, and established distribution channels. The directors review the carrying value of inventory at each reporting date and are satisfied that it is stated appropriately in the context of the Company’s long-term production and sales strategy.
At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the income statement. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the income statement.
The Company’s production and ageing strategy is designed to build a portfolio of inventory capable of supporting progressively higher realised selling prices as products mature. The directors consider that this approach, combined with the Company’s established and developing routes to market, underpins the long-term recoverability and value realisation of work in progress and finished goods.
3.7.
Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
3.8.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3.9.
Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
Quob Park Estate Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
4.
Turnover
Analysis of turnover by class of business is as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Discontinued Operations | - | 1,243,407 | |
| Wine Distribution | 395,867 | 167,306 | |
| Wine-Led Services | 105,000 | 34,649 | |
| 500,867 | 1,445,362 | ||
Analysis of turnover by geographical market is as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| United Kingdom |
|
|
|
| 500,867 | 1,445,362 | ||
5.
Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2024: 55)
6.
Tax on Profit
The tax charge/(credit) for the year was as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Current tax | |||
| UK Corporation Tax |
|
( |
|
| Total tax charge for the period |
|
( |
|
The actual credit for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Profit before tax | 116,769 | 134,166 | |
| Tax on profit at 25% (UK standard rate) |
|
|
|
| Goodwill/depreciation not allowed for tax |
|
|
|
| Expenses not deductible for tax purposes |
|
|
|
| Tax losses utilised |
( |
( |
|
| Capital allowances |
|
( |
|
| Research and Development tax credit |
|
( |
|
| Total tax charge for the period | - | (77,797) | |
No corporation tax was payable for the current year due to the utilisation of brought forward tax losses. The Company had unutilised trading losses of £125,100 to carry forward at the end of this year.
Quob Park Estate Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
7.
Discontinued Operations
During the prior year, the Company undertook a strategic review of its operations and exited certain non-core activities in order to focus on its core wine production, wine distribution and wine-led services business.
As part of this process, certain activities were transferred to the Company’s parent undertaking as part of the settlement of amounts previously owed to the parent, with the remaining non-core activities being discontinued.
Accordingly, the results of these activities have been presented as discontinued operations in the prior year. No revenue or costs relating to discontinued operations were recognised in the current year.
|
2025
|
2024
|
||
|
£
|
£
|
||
|
Turnover
|
-
|
1,243,407
|
|
|
Cost of sales
|
-
|
(610,579)
|
|
|
Administrative expenses
|
-
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|
(521,656)
|
|
|
Profit for the year from discontinued operations
|
-
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|
111,172
|
The discontinued activities primarily related to operations that were not aligned with the Company’s long-term strategy of developing a vertically integrated premium wine production and distribution business.
The transfer and cessation of these activities has resulted in a more focused operating model and strengthened the Company’s financial position through the settlement of intercompany balances.
8.
Intangible Assets
| Intellectual Property | |||
|---|---|---|---|
| £ | |||
| Cost | |||
| As at 1 January 2025 |
|
||
| Additions |
|
||
| As at 31 December 2025 |
|
||
| Net Book Value | |||
| As at 31 December 2025 |
|
||
| As at 1 January 2025 |
|
||
The additions in the year relate to the acquisition of a licence to use the Quob Park Digital Platform, an integrated software system used by the Company to support vineyard management, winery production, inventory control and compliance functions.
The directors consider that the useful economic life of this asset is 10 years, reflecting its central role in the Company’s operations and the expected period over which it will generate economic benefit. No amortisation has been charged in the year due to the timing of acquisition.
Quob Park Estate Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
9.
Tangible Assets
| Land & Property | |
|---|---|
| Leasehold | |
| £ | |
| Cost | |
| As at 1 January 2025 |
|
| Additions |
|
| Disposals |
( |
| As at 31 December 2025 |
|
| Depreciation | |
| As at 1 January 2025 |
|
| Disposals |
( |
| As at 31 December 2025 |
|
| Net Book Value | |
| As at 31 December 2025 |
|
| As at 1 January 2025 |
|
During the year, the Company disposed of certain tangible assets as part of a strategic reorganisation of the business. These assets were transferred in part to the Company’s parent undertaking in settlement of amounts previously owed. The directors consider that the carrying value of the assets transferred was appropriate in the context of the settlement of intercompany balances.
As a result of these transactions, no tangible fixed assets were held by the Company at the year end. The disposal reflects the transition to a more focused operating model centred on wine production and related activities.
10.
Stocks
10.
Stocks - continued
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Stock |
|
|
|
| Materials |
|
|
|
| Work in progress |
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||
Stocks include finished goods, raw materials and work in progress relating to the production of English wine.
Work in progress primarily comprises wine undergoing production and extended ageing. Due to the nature of premium English sparkling wine production, inventory is typically held for a number of years prior to sale in order to achieve the desired quality and characteristics.
The increase in work in progress during the year reflects continued investment in production and ageing inventory in line with the Company’s strategy of building a premium stock profile.
As inventory matures, the directors expect it to be released at progressively higher price points, supporting revenue growth and margin expansion over time.
The directors consider that the composition and maturity profile of inventory, together with established and developing routes to market, support the recoverability of the carrying value of stocks at the balance sheet date.
...CONTINUED
Quob Park Estate Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
The Company’s inventory includes a growing proportion of higher-value aged stock which is expected to be released over the medium term, providing increasing visibility over future revenues.
The directors note that the Company’s current inventory profile reflects several years of production and ageing, with a growing proportion of stock approaching commercial release. As these products are brought to market over the coming years, the directors expect the progressive realisation of higher-value sales, supporting both revenue growth and margin expansion in line with the Company’s long-term strategy.
The directors consider that the scale and maturity of the current inventory base provides increasing visibility over future revenue generation, subject to normal market and operational conditions.
11.
Debtors
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
|
|
|
| Other debtors | 12,615 | 136,398 | |
|
|
|
||
The reduction in other debtors during the year primarily reflects the settlement of balances associated with discontinued operations and the restructuring of the business. Trade debtors increased in line with the growth in continuing operations.
12.
Creditors: Amounts Falling Due Within One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
|
|
|
| Amounts owed to group undertakings | - |
|
|
| Other creditors | 5,892 | 86,597 | |
| Taxation and social security |
|
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Creditors Narrative
The significant reduction in creditors during the year primarily reflects the settlement of amounts previously owed to the Company’s parent undertaking. This was achieved in part through the transfer of certain activities and associated assets as part of a strategic reorganisation of the business.
As a result, no amounts were owed to the parent undertaking at the year end (2024: £519,550). This has resulted in a materially strengthened short-term financial position.
Quob Park Estate Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
14.
Related Party Disclosures
The Company’s parent undertaking is Quob Park Limited.
During the year, the Company entered into transactions with its parent undertaking in the normal course of business, including the sale of goods and provision of services. Revenue relating to continuing operations recognised from the parent undertaking during the year amounted to approximately £400,000.
During the year, the Company acquired a software licence from the parent undertaking for consideration of £50,000. The platform is expected to enhance operational efficiency, stock management and regulatory compliance across the Company’s activities.
As part of a strategic reorganisation, certain activities and associated assets were transferred to the parent undertaking. These transfers were undertaken in part to settle amounts previously owed by the Company to the parent.
At the balance sheet date, no amounts were owed to the parent undertaking (2024: £519,550).
The directors consider that all transactions with related parties were undertaken on terms appropriate in the circumstances.
15.
Controlling Parties
The company's immediate parent undertaking is
Quob Park Limited
.
The ultimate parent undertaking is
Quob Park Capital Limited
(incorporated in England & Wales). Its registered office is
Quob Park, Titchfield Lane, Wickham, Fareham, Hampshire, PO17 5PG
.
The company’s ultimate controlling party is
Robert Simon Terry
by virtue of his interest in the share capital of the Company’s ultimate parent undertaking, Quob Park Capital Limited.