ACCOUNTS - Final Accounts preparation

Operating loss

The operating loss is stated after charging:

Registered number: SC060102

CAMLACHIE COOPERAGE LIMITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2026

CAMLACHIE COOPERAGE LIMITED

COMPANY INFORMATION

Directors	Jerome Francois
	Elizabeth Fullerton
	William Jamieson
	Francois Jean Witasse
	Brian George Bartlett (appointed 19 May 2025)
	James Darren Whitmer (appointed 20 June 2025)


Company secretary	Francois Jean Witasse


Registered number	SC060102


Registered office	Dufftown Road
	Craigellachie
	Aberlour
	Moray
	AB38 9RS


Independent auditors	AAB Audit & Accountancy Limited
	133 Finnieston Street
	Glasgow
	G3 8HB


Bankers	Virgin Money
	47 Main Street
	Baillieston
	G69 9SQ

CAMLACHIE COOPERAGE LIMITED

CONTENTS

	Page
Directors' report	1
Directors' responsibilities statement	2
Independent auditors' report	3 - 6
Statement of comprehensive income	7
Balance sheet	8
Statement of changes in equity	9
Notes to the financial statements	10 - 23

CAMLACHIE COOPERAGE LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 30 APRIL 2026

The directors present their report and the financial statements for the year ended 30 April 2026.

Directors

The directors who served during the year were:

Jerome Francois

Elizabeth Fullerton

William Jamieson

Francois Jean Witasse

Brian George Bartlett (appointed 19 May 2025)

James Darren Whitmer (appointed 20 June 2025)

William Harry Reid Taylor (resigned 20 June 2025)

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Auditors

The auditors, AAB Audit & Accountancy Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.

Brian George Bartlett

Director

Date: 3 November 2026

Page 1

CAMLACHIE COOPERAGE LIMITED

DIRECTORS' RESPONSIBILITIES STATEMENT

FOR THE YEAR ENDED 30 APRIL 2026

The directors are responsible for preparing the Directors' report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

∙select suitable accounting policies for the company's financial statements and then apply them consistently;

∙make judgements and accounting estimates that are reasonable and prudent;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 2

CAMLACHIE COOPERAGE LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CAMLACHIE COOPERAGE LIMITED

Opinion

We have audited the financial statements of Camlachie Cooperage Limited (the 'company') for the year ended 30 April 2026, which comprise the Statement of comprehensive income, the Balance sheet, the Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

∙give a true and fair view of the state of the company's affairs as at 30 April 2026 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.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 3

CAMLACHIE COOPERAGE LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CAMLACHIE COOPERAGE LIMITED (CONTINUED)

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

∙the information given in the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Directors' report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

∙the financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of directors' remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit; or

∙the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' report and from the requirement to prepare a Strategic report.

Responsibilities of directors

As explained more fully in the Directors' responsibilities statement set out on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Page 4

CAMLACHIE COOPERAGE LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CAMLACHIE COOPERAGE LIMITED (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks within which the company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006 and Taxation legislation.

We identified the greatest risk of material impact on the financial statements from irregularities including fraud to be:

∙Management override of controls to manipulate the company’s key performance indicators to meet targets;

∙Timing and completeness of revenue recognition;

∙Management judgement applied in calculating estimates and provisions; and

∙Compliance with relevant laws and regulations which directly impact the financial statements and those that the company needs to comply with for the purpose of trading.

Our audit procedures to respond to these risks included:

∙Testing of journal entries and other adjustments for appropriateness;

∙Testing a sample of revenue transactions substantively to ensure occurrence, completeness, and that the timing of recognition was appropriate;

∙Evaluating the business rationale of significant transactions outside the normal course of business;

∙Reviewing judgements made by management in their calculation of accounting estimates for potential management bias;

∙Enquiries of management about litigation and claims and inspection of relevant correspondence;

∙Reviewing legal and professional fees to identify indications of actual or potential litigation, claims and any non-compliance with laws and regulations;

∙Analytical procedures to identify any unusual or unexpected trends or relationships; and

∙Reviewing minutes of meetings of those charged with governance to identify any matters indicating actual or potential fraud.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

Page 5

CAMLACHIE COOPERAGE LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CAMLACHIE COOPERAGE LIMITED (CONTINUED)

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Angus McCuaig (Senior statutory auditor)

for and on behalf of

AAB Audit & Accountancy Limited

Statutory Auditor

133 Finnieston Street

Glasgow

G3 8HB

4 November 2026

Page 6

CAMLACHIE COOPERAGE LIMITED

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 30 APRIL 2026

	2026	2025
Note	£	£


Turnover	4	1,721,953	1,314,741
Cost of sales		(1,329,347)	(1,108,698)
Gross profit		392,606	206,043
Administrative expenses		(549,777)	(580,423)
Other operating income		7,560	-
Operating loss	5	(149,611)	(374,380)
Interest receivable and similar income	8	5,212	21,701
Interest payable and similar expenses		(148,000)	(148,000)
Loss before tax		(292,399)	(500,679)
Tax on loss	9	67,858	103,980
Loss for the financial year		(224,541)	(396,699)

There were no recognised gains and losses for 2026 or 2025 other than those included in the statement of comprehensive income.

There was no other comprehensive income for 2026 (2025:£NIL).

The notes on pages 10 to 23 form part of these financial statements.

Page 7

CAMLACHIE COOPERAGE LIMITED

REGISTERED NUMBER: SC060102

BALANCE SHEET

AS AT 30 APRIL 2026

		2026		2025
Note		£		£

Fixed assets
Tangible assets	10		4,469,274		4,069,231
			4,469,274		4,069,231
Current assets
Stocks	11	5,987		28,632
Debtors: amounts falling due within one year	12	834,306		938,807
Cash at bank and in hand	13	506,292		1,163,747
		1,346,585		2,131,186
Creditors: amounts falling due within one year	14	(281,842)		(476,097)
Net current assets			1,064,743		1,655,089
Total assets less current liabilities			5,534,017		5,724,320
Creditors: amounts falling due after more than one year	15		(3,700,000)		(3,700,000)
Provisions for liabilities
Deferred tax	17	(259,988)		(225,750)
			(259,988)		(225,750)
Net assets			1,574,029		1,798,570

Capital and reserves
Called up share capital	18	1,000	1,000
Profit and loss account	19	1,573,029	1,797,570
		1,574,029	1,798,570

The company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Brian George Bartlett

Director

Date: 3 November 2026

The notes on pages 10 to 23 form part of these financial statements.

Page 8

CAMLACHIE COOPERAGE LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30 APRIL 2026

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 May 2024	1,000	2,194,269	2,195,269
Comprehensive income for the year
Loss for the year	-	(396,699)	(396,699)

At 1 May 2025	1,000	1,797,570	1,798,570
Comprehensive income for the year
Loss for the year	-	(224,541)	(224,541)
At 30 April 2026	1,000	1,573,029	1,574,029

The notes on pages 10 to 23 form part of these financial statements.

Page 9

CAMLACHIE COOPERAGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2026

1.	General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Dufftown Road, Craigellachie, Aberlour, Moray, AB38 9RS. Its principal activity continues to be the provision of coopering services. The company is a wholly owned subsidiary of Demptos Limited and forms part of TFF Group. The ultimate parent undertaking is Tonnellerie François Frères, which prepared consolidated financial statements in which the company is included.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

∙the requirements of Section 7 Statement of Cash Flows;

∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);

∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Tonnellerie Francois Freres, which is incorporated and registered in France, as at 30 April 2026 and these financial statements may be obtained from Tonnellerie Francois Freres, 21190 Saint Romain, France.

2.3

Going concern

The company is reliant on support from its parent company to meet its obligations as they fall due. The directors have received confirmation that this support will continue for at least 12 months from the date of approval of the financial statements and have therefore concluded that the going concern basis remains appropriate.

The directors, having made due and careful enquiry, are of the opinion that the company has adequate working capital to execute its operations over the next 12 months. The directors, therefore, have made an informed judgement, at the time of approving the financial statements, that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. As a result, the directors have continued to adopt the going concern basis of accounting in preparing the annual financial statements.

Page 10

CAMLACHIE COOPERAGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2026

2.Accounting policies (continued)

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the company has transferred the significant risks and rewards of ownership to the buyer;

∙the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.5

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 11

CAMLACHIE COOPERAGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2026

2.Accounting policies (continued)

2.8

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 12

CAMLACHIE COOPERAGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2026

2.Accounting policies (continued)

2.10

Tangible fixed assets (continued)

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Freehold property	-	3.33%	straight line
Plant and machinery	-	15.00%	reducing balance
Motor vehicles	-	15.00%	reducing balance
Office equipment	-	10.00%	reducing balance
Computer equipment	-	25.00%	straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 13

CAMLACHIE COOPERAGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2026

2.Accounting policies (continued)

2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.16

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic 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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Page 14

CAMLACHIE COOPERAGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2026

2.Accounting policies (continued)

2.16

Financial instruments (continued)

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

3.	Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those 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 if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods.

Turnover

An analysis of turnover by class of business is as follows:
	2026	2025
	£	£

Turnover	1,721,953	1,314,741
	1,721,953	1,314,741

The turnover and profit before taxation are attributable to the one principal activity of the company. Less than 0.3% of the turnover of the company is attributable to geographical markets outside the UK in the year to 30 April 2026 (2025 less than 0.3%).

Page 15

CAMLACHIE COOPERAGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2026

Exchange differences	807	526
Depreciation of owned tangible fixed assets	270,140	161,689
Auditors' remuneration	10,000	9,135
Auditors' remuneration - non-audit	8,955	15,350
Loss on disposal of tangible fixed assets	3,525	3,134

Wages and salaries	736,499	705,799
Social security costs	93,501	65,289
Cost of defined contribution scheme	23,587	21,240
	853,587	792,328

The average monthly number of employees, including the directors, during the year was as follows:

	2026	2025
	No.	No.

Directors	1	1
Production	19	19

	20	20

Page 16

CAMLACHIE COOPERAGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2026

7.	Directors' remuneration
		2026	2025
		£	£

Directors' emoluments	78,840	73,556
Company contributions to defined contribution pension schemes	6,000	6,000
	84,840	79,556

During the year retirement benefits were accruing to 1 director (2025 - 1) in respect of defined contribution pension schemes.

8.	Interest receivable
		2026	2025
		£	£

Interest income
Interest on bank deposits	5,212	15,927
Other interest income	-	5,774
	5,212	21,701

Page 17

CAMLACHIE COOPERAGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2026

Corporation tax
Current tax on profits for the year	(102,096)	(227,127)
Adjustments in respect of previous periods	-	1,666

Total current tax	(102,096)	(225,461)

Deferred tax
Origination and reversal of timing differences	43,221	121,481
Adjustments in respect of previous periods	(8,983)	-
Total deferred tax	34,238	121,481


	Tax on loss	(67,858)	(103,980)

Loss on ordinary activities before tax

(292,399)

(500,679)

Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2025 - 25%)	(73,100)	(125,170)
Effects of:
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	586	1,310
Capital allowances for year in excess of depreciation	13,639	17,998
Group relief surrendered	102,096	218,335
Receipt of group relief	(102,096)	(227,127)
Other differences	-	10,674
Adjustments to tax charge in respect of prior periods	(8,983)	-
Total tax charge for the year	(67,858)	(103,980)

Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 18

CAMLACHIE COOPERAGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2026

10.	Tangible fixed assets

	Freehold land	Freehold property	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£	£
Cost or valuation
At 1 May 2025	310,000	3,205,150	917,934	53,834	20,078	4,506,996
Additions	-	-	680,143	1,899	-	682,042
Disposals	-	-	-	-	(20,078)	(20,078)
At 30 April 2026	310,000	3,205,150	1,598,077	55,733	-	5,168,960
Depreciation
At 1 May 2025	-	79,752	337,161	13,770	7,082	437,765
Charge for the year on owned assets	-	106,784	157,709	4,510	1,137	270,140
Disposals	-	-	-	-	(8,219)	(8,219)
At 30 April 2026	-	186,536	494,870	18,280	-	699,686
Net book value
At 30 April 2026	310,000	3,018,614	1,103,207	37,453	-	4,469,274
At 30 April 2025	310,000	3,125,398	580,773	40,064	12,996	4,069,231

11.	Stocks
		2026	2025
		£	£

Work in progress (goods to be sold)	2,013	-
Finished goods and goods for resale	3,974	28,632
	5,987	28,632

Page 19

CAMLACHIE COOPERAGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2026

12.

Debtors

					2026	2025
					£	£


Trade debtors	461,634	394,851
Amounts owed by group undertakings	329,223	227,127
Other debtors	-	20,573
Prepayments and accrued income	43,449	296,256
	834,306	938,807

13.	Cash and cash equivalents
		2026	2025
		£	£

Cash at bank and in hand	506,292	1,163,747
	506,292	1,163,747

14.	Creditors: Amounts falling due within one year
		2026	2025
		£	£

Trade creditors	21,790	416,002
Amounts owed to group undertakings	136,284	-
Other taxation and social security	75,926	11,847
Other creditors	1,615	1,167
Accruals and deferred income	46,227	47,081
	281,842	476,097

15.	Creditors: Amounts falling due after more than one year
		2026	2025
		£	£

Amounts owed to group undertakings	3,700,000	3,700,000
	3,700,000	3,700,000

Page 20

CAMLACHIE COOPERAGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2026

16.	Financial instruments
		2026	2025
		£	£

	Financial assets
	Financial assets measured at amortised cost	1,297,149	1,785,725

	Financial liabilities
	Financial liabilities measured at amortised cost	3,905,916	4,164,250

	Financial assets that are debt instruments measured at amortised cost comprise cash at bank, trade debtors and amounts owed by group companies.
	Financial liabilities measured at amortised cost comprise trade creditors, amounts owed to group companies, accruals and other creditors.

17.	Deferred taxation

		2026
		£

	At beginning of year	(225,750)
	Charged to profit or loss	(34,238)
	At end of year	(259,988)

The provision for deferred taxation is made up as follows:
	2026	2025
	£	£

Accelerated capital allowances	(331,756)	(225,750)
Tax losses carried forward	71,768	-
	(259,988)	(225,750)

18.	Share capital
		2026	2025
		£	£

Authorised, allotted, called up and fully paid

1,000 (2025 - 1,000) Ordinary Share Capital shares of £1.00 each	1,000	1,000

Page 21

CAMLACHIE COOPERAGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2026

19.

Reserves

Profit and loss account

The profit and loss account includes retained profits or losses less distributions made to shareholders.

Acquisition of tangible fixed assets

299,084

21.	Pension commitments

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

The pension cost charge represents contributions payable by the company to the fund and amounted to £23,587 (2025 - £21,240). Contributions totalling £387 (2025 - £187) were payable to the fund at the reporting date and are included in creditors.

Not later than 1 year	4,988	-
Later than 1 year and not later than 5 years	7,898	-
	12,886	-

23.	Related party transactions
	The company has taken advantage of the exemption granted by FRS 102 not to disclose transactions with wholly owned group companies.

Page 22

CAMLACHIE COOPERAGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2026

24.	Controlling party

The company is a wholly owned subsidiary of Demptos Limited, a company incorporated in the UK. Demptos Limited is wholly owned by a company, Tonnellerie Francois Freres.

The ultimate parent undertaking of the company is Tonnellerie Francois Freres, a company incorporated in France, which is the smallest and largest group of companies for which financial statements are prepared. Copies of the financial statements of Tonnellerie Francois Freres are available to the public from 21190 Saint Romain, France.

25.	Secured Debts

At 30 April 2026, the company had a credit card facility with a limit of £5,000. The facility is secured by a floating charge over the assets and undertakings of the company.

Page 23