REGISTERED NUMBER: 00770403 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2025

FOR

THE INTERNATIONAL WINE & FOOD SOCIETY

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M W Donohoe (USA)

D Catherwood (Treasurer) (USA)

S D Hipple (USA)

A J Jones (Cayman Islands)

P N Lee (Singapore)

J S Nicholas (Chairman) (United Kingdom)

M Tamburri (Australia)

S J A Harrison (United Kingdom)

SECRETARY:

M Messent (United Kingdom)

REGISTERED OFFICE:

The Naval & Military Club

4 St James's Square

London

SW1Y 4JU

REGISTERED NUMBER:

00770403 (England and Wales)

ACCOUNTANTS:

Richardson Jones

Chartered Accountants

Mercury House

19-21 Chapel Street

Marlow

Buckinghamshire

SL7 3HN

FIXED ASSETS

Intangible assets

4

13,184

-

CURRENT ASSETS

Debtors

5

95,787

85,691

Cash at bank

6

298,784

87,638

394,571

173,329

CREDITORS

Amounts falling due within one year

7

278,571

57,663

NET CURRENT ASSETS

116,000

115,666

TOTAL ASSETS LESS CURRENT LIABILITIES

129,184

115,666

RESERVES

Income and expenditure account

9

129,184

115,666

129,184

115,666

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2025 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 surplus or deficit 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 25th August 2026 and were signed on its behalf by:

J S Nicholas (Chairman) (United Kingdom) - Director

D Catherwood (Treasurer) (USA) - Director

1.	STATUTORY INFORMATION

The International Wine & Food Society Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

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

Income and expenditure

Income and expenses are included in the financial statements as they become receivable or due.

Expenses include VAT where applicable as the company cannot reclaim it.

Tangible fixed assets

Items acquired with a useful life of more than one year and material to the overall financial position of the company are included in tangible fixed assets at cost and depreciated over its expected useful life. Adjustments are made to the expected useful life as appropriate, provided that the item has a realisable value.

Operating income

Operating income represents the expense allocation contributions, royalties and the total invoice value of goods sold and services rendered during the year, less the cost of goods sold.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Foreign exchange

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of transaction. All differences are taken to the income and expenditure account.

Leases

Rentals payable under operating leases, including any lease incentives received, are charged to the income statement on a straight line basis over the term of the relevant lease.

Expense allocation contributions

The Area Companies have agreed under the terms of the R&LA to fund the basic administrative expenses incurred by the company. The Area Companies have also agreed to fund any other expenses (referred to as "extraordinary expense") incurred by the company with their consent. The total amount of the basic administrative and extraordinary expense (less income from royalties and merchandise) is divided amongst the Area Companies pro rata to their membership numbers as at the prior financial year end and each Area Company is severally liable to reimburse its share of such expenses to the company.

Stocks

Due to the small quantities of merchandise held at any time the value of stock held at the year end is not included in these financial statements.

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 orginal maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Members liability

In the event of the Society being wound up each and every member has guaranteed to contribute to its assets an amount not exceeding 50 pence (£0.50).

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

14,649

At 31st December 2025

14,649

AMORTISATION

Charge for year

1,465

At 31st December 2025

1,465

NET BOOK VALUE

At 31st December 2025

13,184

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Service charges due

1,631

1,114

Amts owed by IWFS Americas Inc

62,135

49,278

Prepayments

32,021

35,299

95,787

85,691

6.	CASH AT BANK

31.12.25

31.12.24

£

£

Company's own funds

34,161

45,631

Funds held on behalf of IWFS Americas Inc

264,624

42,007

298,786

87,638

During 2022, IWFS Americas Inc held a festival in France. Pursuant to an agreement between the company and IWFS Americas Inc, surplus funds from the festival were transferred to the company's euro bank account and are being held on behalf of IWFS Americas Inc for use on future European events.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade creditors

8,558

9,301

Corporation tax payable

83

143

Amts owed to IWFS Americas Inc

264,624

42,007

Accrued expenses

5,306

6,212

278,571

57,663

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.25

31.12.24

£

£

Within one year

8,400

2,310

Between one and five years

16,800

-

25,200

2,310

Operating lease payments represent office rent of £8,400 per annum payable by the company. The current commitment is due for renewal on 1 May 2028.

9.

RESERVES

31.12.25

31.12.24

£

£

Balance at 1 January

115,666

107,755

Surplus/(deficit) for the year

13,518

7,911

Balance at 31 December

129,184

115,666

10.	RELATED PARTY TRANSACTIONS

The directors receive no remuneration and all personal expenses incurred by the directors in the exercise of their responsibilities are paid by them.

Included in Other creditors is an amount of £264,625 that represents funds held on behalf of IWFS Americas Inc that is payable on demand.