Old Walls Vineyards Ltd 28/02/2025 iXBRL

Company registration number: 04376674

Old Walls Vineyards Ltd

Unaudited filleted abridged financial statements

28 February 2025

Old Walls Vineyards Ltd

Contents

Directors and other information

Accountants report

Abridged statement of financial position

Statement of changes in equity

Notes to the financial statements

Old Walls Vineyards Ltd

Directors and other information


	Directors
		Mr Justin Hadley Head


	Company number	04376674


	Registered office	Grosvenor House
		1 New Road
		Brixham
		Devon
		TQ5 8LZ


	Business address	Ash Hill
		Bishopsteignton
		Devon
		TQ14 9QD


	Accountants	IAW Accountancy Services
		Grosvenor House
		1 New Road
		Brixham
		Devon
		TQ5 8LZ




	Bankers	Lloyds Bank
		41 Courtenay Street
		Newton Abbot
		Devon
		TQ12 2QW

		Nat West
		133 High Street
		Crediton
		Devon
		EX17 3DT

Old Walls Vineyards Ltd

Report to the board of directors on the preparation of the

unaudited statutory financial statements of Old Walls Vineyards Ltd

Year ended 28 February 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Old Walls Vineyards Ltd for the year ended 28 February 2025 which comprise the abridged statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Chartered Institute of Management Accountants , we are subject to its ethical and other professional requirements which are detailed at www.cimaglobal.com.

This report is made solely to the board of directors of Old Walls Vineyards Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Old Walls Vineyards Ltd and state those matters that we have agreed to state to the board of directors of Old Walls Vineyards Ltd as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Old Walls Vineyards Ltd and its board of directors as a body for our work or for this report.

It is your duty to ensure that Old Walls Vineyards Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Old Walls Vineyards Ltd. You consider that Old Walls Vineyards Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Old Walls Vineyards Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

IAW Accountancy Services

CIMA

Grosvenor House

1 New Road

Brixham

Devon

TQ5 8LZ

11 September 2026

Old Walls Vineyards Ltd

Abridged statement of financial position

28 February 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Tangible assets	5	640,347		648,717
		_______		_______
			640,347		648,717

Current assets
Stocks		72,000		103,000
Debtors		98,569		54,029
Cash at bank and in hand		10,122		79,953
		_______		_______
		180,691		236,982
Creditors: amounts falling due
within one year		( 947,492)		( 805,996)
		_______		_______
Net current liabilities			( 766,801)		( 569,014)
			_______		_______
Total assets less current liabilities			( 126,454)		79,703

Creditors: amounts falling due
after more than one year			( 742,491)		( 749,561)
			_______		_______
Net liabilities			( 868,945)		( 669,858)
			_______		_______

Capital and reserves
Called up share capital			120,000		120,000
Share premium account			14,000		14,000
Profit and loss account			( 1,002,945)		( 803,858)
			_______		_______
Shareholders deficit			( 868,945)		( 669,858)
			_______		_______

For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.

All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 28 February 2025 in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements were approved by the board of directors and authorised for issue on 11 September 2026 , and are signed on behalf of the board by:

Mr Justin Hadley Head

Director

Company registration number: 04376674

Old Walls Vineyards Ltd

Statement of changes in equity

Year ended 28 February 2025

	Called up share capital	Share premium account	Profit and loss account	Total
	£	£	£	£


At 1 March 2023	120,000	14,000	( 596,603)	( 462,603)

Loss for the year			( 207,255)	( 207,255)
	_______	_______	_______	_______
Total comprehensive income for the year	-	-	( 207,255)	( 207,255)

	_______	_______	_______	_______
At 28 February 2024 and 1 March 2024	120,000	14,000	(853,858)	(719,858)

Loss for the year			( 149,087)	( 149,087)
	_______	_______	_______	_______
Total comprehensive income for the year	-	-	( 149,087)	( 149,087)

	_______	_______	_______	_______
At 28 February 2025	120,000	14,000	( 1,002,945)	( 868,945)
	_______	_______	_______	_______

Old Walls Vineyards Ltd

Notes to the financial statements

Year ended 28 February 2025

1. General information

The company is a private company limited by shares, registered in England. The address of the registered office is Grosvenor House, 1 New Road, Brixham, Devon, TQ5 8LZ.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Freehold property	-	2 %	straight line
Plant and machinery	-	25 %	reducing balance
Fittings fixtures and equipment	-	10 %	reducing balance
Motor vehicles	-	25 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates .

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 15 (2024: 26 ).

5. Tangible assets


		£
	Cost
	At 1 March 2024	837,213
	Additions	1,221
		_______
	At 28 February 2025	838,434
		_______
	Depreciation
	At 1 March 2024	188,498
	Charge for the year	9,589
		_______
	At 28 February 2025	198,087
		_______
	Carrying amount
	At 28 February 2025	640,347
		_______
	At 28 February 2024	648,715
		_______

6. Directors advances, credits and guarantees

	During the year the directors entered into the following advances and credits with the company:

2025
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr Justin Hadley Head	( 315,295)	( 5,145)	8,048	( 312,392)
		_______	_______	_______	_______

2024
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr Justin Hadley Head	( 343,295)	-	28,000	( 315,295)
		_______	_______	_______	_______

7. Controlling party

Throughout the year there were no ultimate controlling parties .