REGISTERED NUMBER: 11695822 (England and Wales)

Polgoon Vineyard Ltd

Unaudited Financial Statements

for the Year Ended 28th February 2026

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

J P Coulson

Mrs K M Coulson

REGISTERED OFFICE:

Polgoon Farmhouse

Polgoon Farm

Rosehill

Penzance

Cornwall

TR20 8TE

REGISTERED NUMBER:

11695822 (England and Wales)

ACCOUNTANTS:

Hodgsons

Chartered Accountants

48 Arwenack Street

Falmouth

Cornwall

TR11 3JH

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

115,501

155,307

115,501

155,307

CURRENT ASSETS

Stocks

311,898

321,084

Debtors

6

29,481

25,052

Cash at bank and in hand

46

1

341,425

346,137

CREDITORS

Amounts falling due within one year

7

(482,750

)

(496,642

)

NET CURRENT LIABILITIES

(141,325

)

(150,505

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(25,824

)

4,802

CREDITORS

Amounts falling due after more than one year

8

-

(3,333

)

PROVISIONS FOR LIABILITIES

(5,732

)

(6,935

)

NET LIABILITIES

(31,556

)

(5,466

)

CAPITAL AND RESERVES

Called up share capital

11

2

2

Retained earnings

(31,558

)

(5,468

)

SHAREHOLDERS' FUNDS

(31,556

)

(5,466

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2026 in accordance with Section 476 of the Companies Act 2006.

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.

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

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 22nd June 2026 and were signed on its behalf by:

J P Coulson - Director

Mrs K M Coulson - Director

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

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.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold

-

10% on cost

Improvements to property

-

10% on cost

Plant and machinery

-

20% on cost

Motor vehicles

-

20% on reducing balance

Computer equipment

-

33% on cost

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.

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 16 (2025 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st March 2025

and 28th February 2026

2

AMORTISATION

At 1st March 2025

and 28th February 2026

2

NET BOOK VALUE

At 28th February 2026

-

At 28th February 2025

-

5.	TANGIBLE FIXED ASSETS

Improvements

Short

to

Plant and

leasehold

property

machinery

£

£

£

COST

At 1st March 2025

110,070

3,594

225,971

Additions

-

2,261

7,688

At 28th February 2026

110,070

5,855

233,659

DEPRECIATION

At 1st March 2025

28,766

365

160,033

Charge for year

9,390

548

38,971

At 28th February 2026

38,156

913

199,004

NET BOOK VALUE

At 28th February 2026

71,914

4,942

34,655

At 28th February 2025

81,304

3,229

65,938

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1st March 2025

13,955

4,227

357,817

Additions

-

407

10,356

At 28th February 2026

13,955

4,634

368,173

DEPRECIATION

At 1st March 2025

9,634

3,712

202,510

Charge for year

864

389

50,162

At 28th February 2026

10,498

4,101

252,672

NET BOOK VALUE

At 28th February 2026

3,457

533

115,501

At 28th February 2025

4,321

515

155,307

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

At 1st March 2025

123,327

Transfer to ownership

(123,327

)

At 28th February 2026

-

DEPRECIATION

At 1st March 2025

90,477

Charge for year

23,802

Transfer to ownership

(114,279

)

At 28th February 2026

-

NET BOOK VALUE

At 28th February 2026

-

At 28th February 2025

32,850

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

29,481

25,052

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

49,340

61,398

Other loans

112,605

107,271

Hire purchase contracts (see note 9)

-

13,524

Trade creditors

112,882

76,690

Social security and other taxes

4,428

2,211

VAT

48,598

44,765

Other creditors

2,500

1,374

Directors' current accounts

122,316

170,056

Accruals and deferred income

970

-

Accrued expenses

29,111

19,353

482,750

496,642

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans - 2-5 years

-

3,333

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2026

2025

£

£

Net obligations repayable:

Within one year

-

13,524

Non-cancellable

operating leases

2026

2025

£

£

Within one year

2,006

2,006

Between one and five years

334

2,340

2,340

4,346

10.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

£

Bank overdrafts

46,007

51,398

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

2026

2025

value:

£

£

2

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 (2025: £27,600).