1855 (1855.com): considerable delays in supplying en primeur with some clients still waiting for 2002, 2003s and 2005s. Over 398 cases of Bordeaux en primeur outstanding (estimated value: 239,130€) and shocking tales of serial promises broken.
1855 Fine Wine Investments Ltd: formed 3.11.2011 yet claims 'Generating consistent and long-term investment returns for its clients'.
1855 Fine Wine Investments Ltd: formed 3.11.2011 yet claims 'Generating consistent and long-term investment returns for its clients'.
Alexander Barclay Wines Ltd: follow on company to Beaumont Vintners – Samuel Philips is sole director of both companies. Alexander Barclay Wines Ltd website uses much of text from Beaumont's site. 27.2.2012: voluntary strike off application.
Alpha Invest - unclear whether this is in anyway related to Alpha Capital Investments Ltd, a landbanking company, which is in provisional liquidation following a petition to close the company in the public interest. Petition to be heard in High Court on 29th June 2011. 'Andrew Miles is head of our wine department ‘Classic Bordeaux Wines’. Classic Bordeaux Wines website cannot be found (26.6.2011).
Artemis Bellet Ltd: Company incorporated in April 2010 dissolved 26th July 2011 no return or accounts filed.
AS Fine Wine – trading name of As Incorporated Ltd. Although company set up 27.7.2011, claims to be established with a good track record. Website gives no indication of who runs company and contact address is a virtual office on London's Regent Street.
Artemis Bellet Ltd: Company incorporated in April 2010 dissolved 26th July 2011 no return or accounts filed.
AS Fine Wine – trading name of As Incorporated Ltd. Although company set up 27.7.2011, claims to be established with a good track record. Website gives no indication of who runs company and contact address is a virtual office on London's Regent Street.
Assets Vin Rouge (See Wine Traders International + Bradshaw & Karr)
Australian Portfolio Wines Ltd – There are relatively few Australian wines that can be considered for investment. Best to have a good knowledge of the wines and markets before investing.
Beaumont Vintners Ltd: founded 18.6.2010. First accounts due 18.3.2012. Serviced offices/accommodation address. From website: 'Beaumont Vintners has the network of contacts throughout the UK and Europe to arrange the re- sale of your wines at a moments notice. Ordinarily, we advise our clients when to take profits or when we believe optimal yields have been achieved.'
Company description: 'With many years of experience in the fine wine market, Beaumont Vintners offers fine wine portfolios and management to customers throughout UK. Founded in 2010, the business is based in West End (London).'(http://www.freeindex.co.uk/profile%28beaumont-vintners%29_333024.htm)
Compare website with Castlegate Wines. No track record. No accounts filed – first accounts due next year.
1.2.2012: Company uncontactable with a number of customers awaiting wines to be delivered to the bonded warehouse. Follow on company called Alexander Barclay Wines Ltd formed in August 2011. 27.2.2012: voluntary strike off application.
5.4.2012: Went into liquidation owing £1.5 million with apparently the only assets £30,000-£40,000 of en primeurs believed to be 2009s. Joint liquidation between Grant Thornton and Abbot Fielding.
Blakeney Bridge Wines Ltd: founded 10.6.2011 initially as London Wine Traders Ltd, changed name 6.10.2011. No accounts filed. Serviced/virtual offices. Company's wine prices are substantially higher than can be found elsewhere.
1.2.2012: Company uncontactable with a number of customers awaiting wines to be delivered to the bonded warehouse. Follow on company called Alexander Barclay Wines Ltd formed in August 2011. 27.2.2012: voluntary strike off application.
5.4.2012: Went into liquidation owing £1.5 million with apparently the only assets £30,000-£40,000 of en primeurs believed to be 2009s. Joint liquidation between Grant Thornton and Abbot Fielding.
Blakeney Bridge Wines Ltd: founded 10.6.2011 initially as London Wine Traders Ltd, changed name 6.10.2011. No accounts filed. Serviced/virtual offices. Company's wine prices are substantially higher than can be found elsewhere.
Bradshaw & Karr (Wine Traders International and Bradshaw & Karr)
Blue Chip Fine Wine Company: not registered with Companies House – apparently part of Axetrader Ltd Co No 05761132. Slow in arranging a transfer of wine to a customer's account. Run by Dhugal Robertson. Dissolved 15.11.2011.
Bordeaux Fine Wines Ltd: cold calls, company founded in September 2008, serviced offices in London and Hong Kong. From website: 'For the last 25 years, we have been utilising our deep knowledge to structure and tailor strategic portfolios of fine wines within the Bordeaux region, helping both first time investors and long standing wine connoisseurs build their collections.'
Company's tax advice is not in line with current position as set out by HMRC:
'Tax Free
Company's tax advice is not in line with current position as set out by HMRC:
'Tax Free
Tax Free Haven For Your Money
You do not usually have to pay income or
capital-gains tax (CGT) on any profits. Wine is exempt from CGT because it is
regarded by the Inland Revenue as a "wasting asset" with a predicted
lifespan of less than 50 years.
If you keep the wine in bond, you also avoid paying VAT and Duty.
The wine will form part of your estate for Inheritance Tax (IHT) purposes. The
definition of wine given by the Capital Tax Office is that of a 'wasting
asset/chattel'. The Revenue practice has been to value wine at acquisition
cost, not current value.'
HMRC position: some wines have a predicted lifespan of more than 50 years. For purposes of inheritance tax wine is not regarded as a wasting asset and it will be valued at current value.
Bordeaux NZ: one man band (James Colley) based in Auckland, New Zealand with the only contact a cellphone. The website claims a team of consultants. Colley, however, admitted to the New Zealand Herald that this claim is a fantasy. Colley's only previous experience of the fine wine market was a seven month stint with UK based Capital Vintners Ltd – another company from whom I would not buy wine. NZ Herald article here. See here for answers James Colley gave to the New Zealand Herald from Bordeaux NZ's website.
Bordeaux NZ: one man band (James Colley) based in Auckland, New Zealand with the only contact a cellphone. The website claims a team of consultants. Colley, however, admitted to the New Zealand Herald that this claim is a fantasy. Colley's only previous experience of the fine wine market was a seven month stint with UK based Capital Vintners Ltd – another company from whom I would not buy wine. NZ Herald article here. See here for answers James Colley gave to the New Zealand Herald from Bordeaux NZ's website.
By his own admission Colley/Bordeaux NZ has yet to sell a single bottle of wine. Despite this admission his website promotes Bordeaux NZ as a wine investment company that has experience and a history of selling fine wine.
From the Bordeaux NZ website:
'Bordeaux NZ is a fine wine investment brokerage firm based in New Zealand. We provide a simple and cost effective solution to trading investment grade fine wine as a commodity on the open market.
'Bordeaux NZ is a fine wine investment brokerage firm based in New Zealand. We provide a simple and cost effective solution to trading investment grade fine wine as a commodity on the open market.
Before now, to invest in Fine Wine, New
Zealanders had to spend thousands of dollars just to be able to invest.
This included: setting up their own private cellars, arranging
transportation from London, paying import duty tax and excessive margins charged
by suppliers. Bordeaux NZ was set up to give you a much safer and easier way to
take advantage of the lucrative international Fine Wine trade.
With Bordeaux NZ, you can have access to
the world’s rarest and most sort after investment grade wines, you no longer
need to spend the large sums of money to import and store the wines and when it
comes to trading the wines on, you can benefit from our access to investors,
collectors and auction houses throughout the world, which allows us the ability
to achieve global market prices instantly for you.' Flying pig territory!!
Perhaps the Commerce Commission New Zealand should take a look at Colley's Bordeaux NZ site. 'Businesses need to make sure all representations they make online are accurate and do not mislead consumers.'
Bordeaux UK Ltd: cold calls, evidence of selling well above the price these wines can be bought from other companies. Proposal to strike of for non-compliance – accounts and return overdue. Director Ian Van Der Hook has opted to put company into voluntary liquidation. Associated company Vin Bordelais Ltd.
Bordeaux Wine Company Ltd. Established in 2002. Run by two shadow directors (Achom and Grant) who are barred form being company directors in UK from 22.7.2002 to 22.7.2013. Cold calls. Added service charge makes wines uncompetitive.
Bordeaux Wine Consultancy Ltd: Founded 26.1.11. Company website is vague about who runs company and their experience. Registered office in Bromley but trading address in Soho Square is a serviced office and meeting rooms. Website claims profits from wine investments invariably free of capital gains and no mention of inheritance tax.
Bordeaux Wine Consultancy Ltd: Founded 26.1.11. Company website is vague about who runs company and their experience. Registered office in Bromley but trading address in Soho Square is a serviced office and meeting rooms. Website claims profits from wine investments invariably free of capital gains and no mention of inheritance tax.
Bordeaux Wine Trading Company Ltd (now dissolved) - court case at St Albans.
Boss Vintners (based in South Africa)
Capital Bordeaux Investments Ltd: This company and Capital Bordeaux Vintners share the same address – serviced offices at 68 Lombard Street, London EC3V 9LJ. Formed 24.4.2012.
Claims wine investment is tax free.
Capital Bordeaux Vintners Ltd – see Capital Bordeaux
Capital Fine Wine Ltd: founded in August 2010 Website claims: 'When it comes to selling your wine or realising your funds, let Capital Fine Wine do all the hard work so you can enjoy your hard earned profits without any headaches.
Capital Bordeaux Investments Ltd: This company and Capital Bordeaux Vintners share the same address – serviced offices at 68 Lombard Street, London EC3V 9LJ. Formed 24.4.2012.
Claims wine investment is tax free.
Capital Bordeaux Vintners Ltd – see Capital Bordeaux
Capital Fine Wine Ltd: founded in August 2010 Website claims: 'When it comes to selling your wine or realising your funds, let Capital Fine Wine do all the hard work so you can enjoy your hard earned profits without any headaches.
We have built a large network of international buyers, collectors and bidders to ensure the sale of your wine will be processed as quickly and effeciently as possible.' Also: 'market leading portfolio management group'
Registered office in Orpington (same address as Capital Landholdings (UK) Ltd. Contact address is serviced office in Old Broad Street, London EC2N 1HN. No track record.
Capital Vintners Ltd: Founded 1.7.05, dormant company until 31.7.08; unlikely claims on website.Serviced offices/accommodation address.
see http://investdrinks-blog.blogspot.com/2010/04/capital-vintners-ltd-brokerage-service.html. Instances of high prices charged
Castlegate Wines Ltd: This Bromley based company, briefly called Castlegate Ventures Ltd before returning to its former name (31.1.11), founded on 21st October 2010. Uninformative website and lack of any track record, claims a network of trade contacts: 'Castlegate Wines has a well established worldwide network of traders, châteaux and negotiants, merchants and traders.' 'Incredibly, all gains are FREE FROM CAPITAL GAINS TAX...!!!" Certainly incredible as this is incorrect. City of London address listed on website is virtual/service office.
11.10.2012: website appears to have diappeared. No accounts filed – first accounts overdue and should have been filed on 21.7.2012.
Cave Privée: Now part of the 1855 group.
11.10.2012: website appears to have diappeared. No accounts filed – first accounts overdue and should have been filed on 21.7.2012.
Cave Privée: Now part of the 1855 group.
CBV Publishing – apparently related to Classic Bordeaux Vintners
City Wine Traders: founded 21.4.10; serviced/virtual offices. Free of capital gains.
'Our combined experience over many years has provided our clients with consistent capital growth.'
Classic Bordeaux Wines Ltd
Classic Bordeaux Vintners: Linked to Publishing Group Ltd. cold calls, no known track record for en primeur. Claims wine investment free of capital gains tax: 'Profits from wine investment are completely exempt from capital gains tax, providing that they are of a non-commercial nature.' Promises of a '15% return guaranteed'. Registered in the USA: 3411 Silverside Road, Suite 104, Rodney Building, Wilmington, DE, 19810, County of New Castle, USA. Reg date: 16.11.2009 under name The Premier Bordeaux Wine Company LLC. This is the address of their formation agent – Turner Little 'specialists in Delaware Company Formation'. Appear to be linked to Vintage Wine Investors. Both companies should be avoided.
Claret Enterprise Ltd (proposal to strike off) – dissolved 17.12.10 – no accounts filed.
Crimson
Fine Wines Ltd: Founded 21.2.2011. upfront commission – 'a static service charge
of 15%' + several other incorrect claims: Capita Gains Tax – 'UK tax law considers wine a 'wasting asset' and therefore not subject to Capital Gains Tax' – this only applies to wines considered to have a life expectancy of les than 50 years and also depends upon when the wine was bought. Wine is subject to inheritance tax at current valuation. Information given on Consumer Protection is wrong. Crismon Fine Wines terms and conditions state 'In accordance with The Consumer Protection (Distance Selling) Regulation 2000' that the purchaser has the right to cancel up to 'the close of business on the seventh working day after your funds have been received into our bank account'. This is incorrect. Under the law the purchaser has the right of cancellation up to seven working days after taking delivery of the goods. (See Regulation 11 of the act.) Crimson Fine Wines Ltd give themselves up 60 days to purchase the wine after receipt of payment. It may be that as Crismon Fine Wines' terms and conditions do not comply with the law that a purchaser would have the right to cancel up to three months and seven working days following receipt of the wine – (receipt may be by a third party eg a bonded warehouse). Brochure does not reflect recent downturn in prices. (22.6.2012)
Cult Wines Ltd: upfront commissions ('CULT WINES LTD levies a charge of 15%, which covers administration, shipping, bond transfers, sale of the Product, analysis and market updates on all portfolio management purchases.'). Free of capital gains. (15.3.10) Oliver Gearing, CEO of company making absurd and bizarre suggestions that I had been stalking his girlfriend – I was totally unaware of her existence: 'spoken to the police today I have informed them of your persistant antics and I'm hoping they will get to the bottom of it. Doubtless an entire coincidence that I had been asking a series of questions about Cult Wines Ltd also doubtless a coincidence that a smear website appeared in March 2010 making many false allegations including that I have been 'Following and monitoring these family members either directly or indirectly.'
Dunbar Fine Wines: well documented problems of delivery and long involvement of local Trading Standards
Eighteen55 Clarets Ltd accounts overdue from 30.4.2011. 2.8.2011 Companies House moves to strike off company. Strike off cancelled (3.8.2011). Altaur Rahman resigns as director (29.8.2011), Stephen Paul Bradshaw appointed director 29.8.2011). July 12 update: ALTAUR RAHMAN has returned as a director, while STEPHEN BRADSHAW has resigned. Change made on 18th June 2012.
Elite Wine Portfolio (closed in the public interest: 28.1.2010)
(Embassy Fine Wines Ltd. Dissolved 4.9.2012)
Embassy Wine UK Ltd: Founded 28.6.2011. 17 Ensign House, Admirals Way, London E14 – accommodation address.
(Embassy Fine Wines Ltd. Dissolved 4.9.2012)
Embassy Wine UK Ltd: Founded 28.6.2011. 17 Ensign House, Admirals Way, London E14 – accommodation address.
Encarta Fine Wines Ltd: First Gazette issued on 10.1.2012 on grounds of non-compliance – failure to file annual return on time. Move to dissolve company suspended on 21.1.2012 when annual return was filed.
En Primeur Vintages Ltd (proposal to strike off: 17.8.2010, no accounts filed) Struck off 30.11.2010
European Fine Wines Ltd: cold calls, evidence of selling well above the price these wines can be bought from other companies. Registered address: 68 Lombard Street, London EC3. Trading address: Future House, 11-13 Bromley Common, Bromley BR2 9LS. Also EFWines Ltd. founded 24.8.12. Same registered and trading addresses.
Finbow Fine Wines Ltd (in liquidation): The Metropolitan Police investigation. Arrests made – on police bail
Fine Wine Solutions Ltd: founded in March 2005 as Coldtech (UK) Ltd on 1.11.10, last accounts dormant (to 31.3.10). Richard Leahy a former director, now Peter Ta (appoint 6.1.11. Website and brochure bears marked similarities to Beaumont Vintners, Castlegate Wines Ltd, Mortimer House Ltd and The Premier Wine Company. Leigh Cramer of the Premier Wine Company alleges that these other companies have used their materials and are in breach of copyright. Website registered by Richard Leahy on 28th October 2010. Cold calls.
Fine Wine Vintners Ltd (annual return overdue since 2.7.2010). Website says they are no longer trading (9.10.10), went into administration 30th September 2010. See This is money article here.
First Capital Financial Ltd – trade as First Capital Fine Wine Investments – Company set up 10.10.2011. Using Lix-ex logo without permission. Tax advice wrong especially on Capital Gains and Inheritance Tax. Nonsense claim inside knowledge of what Robert Parker's scores on particular wines will be in the future.
First Capital Financial Ltd – trade as First Capital Fine Wine Investments – Company set up 10.10.2011. Using Lix-ex logo without permission. Tax advice wrong especially on Capital Gains and Inheritance Tax. Nonsense claim inside knowledge of what Robert Parker's scores on particular wines will be in the future.
Global Fine Wine Ltd (annual return overdue since 1.9.2010). Dissolved 22.3.2011
Global Wine Investments Ltd: set up 12.4.2011. Directors: Michael Wilson and James Hamilton. Wine list used on Global's site is actually that of Albany Vintners Ltd (a reputable company set up in June 2003) and used without Albany's knowledge and permission. 17.8.2012 – Company has disappeared without supplying customers' wine. Wilson is also linked with Omera Limited (now dissolved) and with Omera Ltd.
H&R Vintners Limited Founded 7.12.09. Proposal to strike off. No accounts filed and return overdue since 4.1.11. Struck off and dissolved 26.7.2011
Hawthorne & Hawthorne Fine Wines Ltd, serviced offices.
Imperial Wines of London Ltd Founded 21.5.08
International Wine Commodities Ltd (accounts and return overdue, proposal to strike off): directors found guilty of fraud - December 2010.
Kingsley Judd: Claims to be one of the 'leading Bordeaux wine traders specialising in investment grade French wines'. No indication where the company is registered – certainly not listed at UK Companies House. Addresses given in Hong Kong, France and UK – all serviced or virtual offices. Infers links with leading UK auction houses.
London Wine Brokers Ltd Founded 17.9.08. Dissolved 4.5.10 No return or accounted filed
Kingsley Judd: Claims to be one of the 'leading Bordeaux wine traders specialising in investment grade French wines'. No indication where the company is registered – certainly not listed at UK Companies House. Addresses given in Hong Kong, France and UK – all serviced or virtual offices. Infers links with leading UK auction houses.
London Wine Brokers Ltd Founded 17.9.08. Dissolved 4.5.10 No return or accounted filed
London Wine Futures Ltd Founded 17.3.2010. Return overdue 14.4.11
London Wine Futures Trading Ltd, Founded 1.9.10. 2 Bath Place, Rivington Street, Old Street, London EC2A 3DR – serviced office
London Wine Shop Ltd: Founded 4.8.09. evidence of selling well above the price these wines can be bought from other companies
London Wine Futures Trading Ltd, Founded 1.9.10. 2 Bath Place, Rivington Street, Old Street, London EC2A 3DR – serviced office
London Wine Shop Ltd: Founded 4.8.09. evidence of selling well above the price these wines can be bought from other companies
Moncharm Ltd. Although incorporated in 2007, looks like company only became active in April 2010. Name of company and directors changed. Website (www.moncharm.co.uk registered 14.4.2010). Cold calls. Unlikely claims on website: 'Moncharm is a leading wine brokerage'. Serviced/virtual offices in London and Hong Kong.
Montpellier Coates: p: +44 (0)1702 382326 f: 01702 293169 http://www.montecoates.comWebsite doesn't load (14.2.2011)
Morgan Aston Ford (struck off and dissolved 15.6.2010 (now Vinance plc: annual return overdue) 8.9.2010)
Mortimer House Ltd: 'Mortimer House is part of a group of extremely successful companies' Last company accounts were dormant (made up to 31.5.09). Director: Richard Leahy. A Google search shows Mortimer House, 40 Chatsworth Parade, Petts Wood, Orpington, Kent, BR5 1DE to be a very popular address.
Nouveau World Wines Ltd: in liquidation (20.10.10) and under police investigation. A number of arrests made, those arrested on bail. 16.4.2012: five charged with conspiracy to defraud and money laundering. Similar charges for five in Finbow Fine Wines.
The Premier Bordeaux Wine Company LLC - registered in Delaware file number 4753967 – appears to trade as Classic Bordeaux Vintners (see above). Linked to Alpha invest.
Premier Bordeaux Wine Company Ltd. same address as now defunct Premier Bordeaux Wines (London) Ltd. Founded 3.12.09
Premier Bordeaux Wine Company Ltd. same address as now defunct Premier Bordeaux Wines (London) Ltd. Founded 3.12.09
Premier Bordeaux Wines (London) Ltd: return overdue from 30/12/10, no accounts filed. Proposal to strike off. Dissolved (12.7.2011)
Premier Red Fine Wines Limited: Founded 10.6.09
Premier Wine Company: evidence of selling well above the price these wines can be bought from other companies. Trading name of CF One Ltd of West Street Bromley. Previously called CF One Investments Ltd. Last filed accounts for a dormant company. Latest accounts overdue since 31.10.10 (posted 24.1.11). Accounts have now been filed (13th February 2011). Use cold calls.
Prestige Fine Wine Ltd (incorporated 5.3.10): serviced office@100 Pall Mall, London SW1, cold calls, uninformative website (www.prestigefinewine.co.uk). 'profits are free from Capital Gains Tax as long as the wine is kept in bond'.
Sanderson Forbes Ltd: company founded 27.4.2010 – £1 capital. Dormant accounts to 28.2.2011. Website created 28.1.2011. Incorrect claims that profits from wine investment are invariably tax-free. Lack of track record. 'Flying pig' claim of 15% average annual return. Highly unlikely in falling market and anyway Sanderson Forbes Ltd has only be operating for a short time. Linus Hornsey-Pennell is head of operations and the sole active director. He was previously broker with Boltons Investments.
29.4.2013: the company appears to have disappeared. Website domain up for sale and phone number not recognised.
SAWA Wines Ltd: formerly European Fine Wines (2012) Ltd. Founded 6.6.12. Name change 20.9.12
Sanderson Forbes Ltd: company founded 27.4.2010 – £1 capital. Dormant accounts to 28.2.2011. Website created 28.1.2011. Incorrect claims that profits from wine investment are invariably tax-free. Lack of track record. 'Flying pig' claim of 15% average annual return. Highly unlikely in falling market and anyway Sanderson Forbes Ltd has only be operating for a short time. Linus Hornsey-Pennell is head of operations and the sole active director. He was previously broker with Boltons Investments.
29.4.2013: the company appears to have disappeared. Website domain up for sale and phone number not recognised.
SAWA Wines Ltd: formerly European Fine Wines (2012) Ltd. Founded 6.6.12. Name change 20.9.12
Seale Wines Ltd (accounts overdue 30.6.10; proposal to strike off). Under police investigation
Select Bordeaux Ltd: Founded 28.10.09. Registered office is virtual – a telephone answering service.
Select Bordeaux Ltd: Founded 28.10.09. Registered office is virtual – a telephone answering service.
Select Money Tree – for en primeur no track record
Strategic Wine Acquisitions Ltd (dissolved 21.9.10). Appears to be trading as Strategic Wine Acquisitions.
Templar Vintners Ltd (accounts, annual return overdue, proposal to strike off). Benedict Moruthoane found guilty of fraud and imprisoned for 7.5 years.
The London Vines Ltd: founded 26.1.2010, first accounts due 26.10.2011, accommodation address, unlikely website claim: 'London Vines are a leading wine brokerage company offering brokerage and bonded storage.' 14.6.11: offering case of 2007 Mouton-Rothschild for £5510 apparently with assurance that it will 'nearly double' by Jan/Feb 2012. Can be bought elsewhere for around 3500-3700 a case.July 2011: aggressive sales tactics. Invoice for wine sent when potential client asked for information. Told cancellation wasn't possible – nonsense and contrary to the Distance Selling Regulations.
13.12.12: Now at 13 Holywell Row, London EC2 4JF. A google search notes that: 535 companies also use this postcode, this is probably a mail forwarding service address.
13.12.12: Now at 13 Holywell Row, London EC2 4JF. A google search notes that: 535 companies also use this postcode, this is probably a mail forwarding service address.
The London Wine Shop Ltd: evidence of selling well above the price these wines can be bought from other companies
UK Fine Wine Investments Ltd: Company founded on 5th January 2011. However:
'Here at UK Fine Wine Investments we are a brokerage specialising in premier cru (meaning First Growth) wines from the Bordeaux region of France. We pride ourselves in delivering of a congruent, first-classed tailored service to each and every client. Not only do our established, select team of brokers and market analysts work perpetually to ensure our client demands are satisfied, they also go that extra mile to embellish a long-lasting positive relationship.' Claims wine investment of 'tax-free returns'.
United Wealth
Vinance plc (formerly Morgan Aston Ford): annual return overdue) 8.9.2010. Return now filed. 25% upfront commission. Accounts overdue since 31.12.2010 (11.7.2011).
17.10.12: latest accounts again overdue since 30.6.2012.
21.10.12: Charge well above going rate for First Growths from lesser vintages.
16.11.12: went into administration. Herron Fisher appointed. Deficit not yet known.
17.10.12: latest accounts again overdue since 30.6.2012.
21.10.12: Charge well above going rate for First Growths from lesser vintages.
16.11.12: went into administration. Herron Fisher appointed. Deficit not yet known.
Vin Vende Courtier: website says based in London and Hong Kong but no contact details listed for either location.
Vine Capital Ltd: Founded 2.8.10. Previous name Vine Investments Ltd (changed on 17.11.10). Registered office 111 Buckingham Palace Road
Victoria, Westminster, London SW1W 0SR – serviced office
16.6.11 ‘Vine Capital Ltd, one of the leading Fine Wine Commodity Brokerage's in South East London & North Kent is now recruiting sales personnel’s to join their fast and expanding team.’
We expect all candidates who wish to apply to be; Target Driven, Money Hungry and Hard Working. Experience in telephone sales is essential, however training is provided. Candidates with a proven sale's track history will have a much greater advantage in being successful.’ (Knowledge of fine wine not mentioned but previous experience of cold calling presumably an advantage.)
We expect all candidates who wish to apply to be; Target Driven, Money Hungry and Hard Working. Experience in telephone sales is essential, however training is provided. Candidates with a proven sale's track history will have a much greater advantage in being successful.’ (Knowledge of fine wine not mentioned but previous experience of cold calling presumably an advantage.)
Positions available: Opener's (Junior Broker) / Closer's - Loaders (Senior Broker's)
- Opener’s duties include: calling up and pitching new prospective clients explaining the benefits to investing within the fine wine market, start to build a trusting relationship with the client.
- Closer’s duties include: calling up prospective clients who have expressed an interest to invest in the fine wine market from the conversation with the opener, explaining the market in more depth and closing the deal.
- Loader’s duties include: up selling and maintaining clients as well as informing them of any market trends and movements within this arena.
Brokers will be based at BR6 7SA – Charmwood Lane, Orpington.
Vino Bay Assets Ltd: cold calls, 'Inheritance Tax. Wine is also considered a "chattel" and as such is charged to Inheritance Tax accordingly. This means that, as long as the owner has retained proof of the purchase cost, the wines would be considered at the purchase price and not at any appreciating value.' Incorrect: value is at the current level for the purposes of inheritance tax.
Vin Bordelais Ltd: Formed 4.5.2011. This appears to be the son/daughter of Bordeaux UK. Using the same logo on its website as Bordeaux UK and the same contact telephone number and employing the same staff. Trading address is a Regus serviced office block in Reigate. Sole director (as of 17.11.2011) is Douglas Lawrence Adams of Douglas Company Services Ltd.
Update 8.9.12: Laurence Adams resigned as a director on 29.8.2012. On same day Grant Burberry was appointed as director. Octavian has closed Vin Bordelais' bonded warehouse account. Vin Bordelais is now using EHD bond.
Update 8.9.12: Laurence Adams resigned as a director on 29.8.2012. On same day Grant Burberry was appointed as director. Octavian has closed Vin Bordelais' bonded warehouse account. Vin Bordelais is now using EHD bond.
Vintage International Ltd : cold calls, serviced office/accommodation address, evidence of selling well above the price these wines can be bought from other companies – despite claim: 'We design all portfolios in fine wine to suit your needs.' No details on website of who runs the company or their experience. Wine investment is 'Totally Tax Free' claims their website – er what about inheritance tax? Company founded on 22.8.08. Although the website suggests that the company is based in Paris, New York and Hong Kong as well as Canary Wharf, London no details are given on the website.
Vintage Vines Ltd: Founded 13.10.2010. Share capital £1. Cold calls. No track record. Website under construction.
Vintage Wine Investors: highly unlikley claims (50% profit in three months) and offers from a company that is not registered in the UK with no indication on its website if it is registered elsewhere. Virtual office/accommodation address. Website registered in Canada. Appear to be linked to Classic Bordeaux Vintners – another scam to be avoided.
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Vintage Wine Investors: highly unlikley claims (50% profit in three months) and offers from a company that is not registered in the UK with no indication on its website if it is registered elsewhere. Virtual office/accommodation address. Website registered in Canada. Appear to be linked to Classic Bordeaux Vintners – another scam to be avoided.
Vin-X Ltd: 'Vin-X was formed by a team with backgrounds in stockbroking, wine investment and retail, with the aim of introducing and educating private individuals to the benefits of investing in wine.' (About us – Vin-X Ltd website)
The company founded on 10th July 1989 as Nerigrass Ltd, changing its name to Safety Watch Ltd (11.10.89), to Kestral Holdings Ltd (20.12.91) and to Vin-X Ltd on 10.3.2010. It has been run since 1990 by Peter Shakeshaft. The company's accounts were dormant until 31.3.95 with the first full set of accounts covering the period to 31.3.96.
The background in 'stockbroking' is unfortunate as a number of those involved in Vin-X Ltd were also involved in Wills & Co Ltd (fullname: Wills & Co Stockbrokers Limited), which was censured by the FSA and later closed in the High Court.
On 31st October 2007 Wills & Co were fined £49,000 by the FSA (Financial Services Authority) 'on the basis of failings in its sales practices, the information provided to its customers and its systems and controls'. The FSA required the company to put these right by 23rd December 2007. Wills & Co confirmed to the FSA that the required remedial actions had been carried out.
May 2008: 'The FSA visited Wills & Co in May 2008 to assess whether it had implemented the remedial actions required by the settlement agreement and rectified the failings identified in the 2007 Final Notice. As part of the visit, the FSA identified similar failings in sales practices and compliance monitoring as set out in the 2007 Final Notice. The FSA reviewed a further 19 transactions between 17 January and 17 March 2009 as part of its Enforcement investigation and identified similar failings in sales practices and compliance monitoring as set out in the 2007 Final Notice.' (from FSA Final Notice 16th February 2010).
The company founded on 10th July 1989 as Nerigrass Ltd, changing its name to Safety Watch Ltd (11.10.89), to Kestral Holdings Ltd (20.12.91) and to Vin-X Ltd on 10.3.2010. It has been run since 1990 by Peter Shakeshaft. The company's accounts were dormant until 31.3.95 with the first full set of accounts covering the period to 31.3.96.
The background in 'stockbroking' is unfortunate as a number of those involved in Vin-X Ltd were also involved in Wills & Co Ltd (fullname: Wills & Co Stockbrokers Limited), which was censured by the FSA and later closed in the High Court.
On 31st October 2007 Wills & Co were fined £49,000 by the FSA (Financial Services Authority) 'on the basis of failings in its sales practices, the information provided to its customers and its systems and controls'. The FSA required the company to put these right by 23rd December 2007. Wills & Co confirmed to the FSA that the required remedial actions had been carried out.
May 2008: 'The FSA visited Wills & Co in May 2008 to assess whether it had implemented the remedial actions required by the settlement agreement and rectified the failings identified in the 2007 Final Notice. As part of the visit, the FSA identified similar failings in sales practices and compliance monitoring as set out in the 2007 Final Notice. The FSA reviewed a further 19 transactions between 17 January and 17 March 2009 as part of its Enforcement investigation and identified similar failings in sales practices and compliance monitoring as set out in the 2007 Final Notice.' (from FSA Final Notice 16th February 2010).
17th February 2010: The FSA 'stopped Wills & Co Stockbrokers Limited (Wills & Co) from giving investment advice, because of its poor sales practices. This includes poor risk warnings and misleading information to its high-risk penny share customers. The firm will no longer be able to provide recommendations to retail customers on buying shares.'
(http://www.fsa.gov.uk/consumerinformation/firmnews/2010/wills_co_stockbrokers.shtml)
Peter Shakeshaft was the Group CEO (Wills & Co Financial Group plc) and was a director of Wills & Co Stockbrokers Ltd from 23.8.2010 to 10.5.2011. Staff at Vin-X Ltd include Darren Lansdown, associate director, previously a director at Wills & Co Ltd and censured by the FSA and Guy Hemphill, a salesman with Wills & Co Ltd. Please see Shakeshaft's comments below:
Further details on Wills & Co Ltd:
Wills & Co was subsequently put into compulsory
liquidation at the High Court on 1st July 2011 following a petition by the
Insolvency Service on 6th June 2011.
On 16th February 2010 Darren Lansdown, who is now an associate director of Vin-X Ltd, was censured by the FSA for misconduct with regard to Wills & Co Ltd and required to resign as a director:
'6.2: For the reasons set out above, Mr Lansdown did not demonstrate the degree of competence expected under the regulatory system in carrying out his (CFI Director) function. Such failings seriously undermined the protection and fair treatment of Wills & Co's customers and confidence in the financial services industry.
'6.2: For the reasons set out above, Mr Lansdown did not demonstrate the degree of competence expected under the regulatory system in carrying out his (CFI Director) function. Such failings seriously undermined the protection and fair treatment of Wills & Co's customers and confidence in the financial services industry.
6.3: As such the FSA considers it appropriate to publish a statement of misconduct against Mr Lansdown. Mr Lansdown has also been required to provide the FSA with an undertaking that from the date of this notice he will resign his CFI Director function or positions with responsibility for the management of approved persons for 3 years. He will also resign his directorship at Wills & Co and Wills & Co Financial Group plc (the unregulated holding company of Wills & Co). (DJL00060 16.2.2010).
See also report from Hallbrook Partners here:
(http://www.hallbrookpartners.co.uk/firms-in-default/wills-and-co-stockbrokers)
Also Wills & Co were described by Tony Hetherington in the Mail on Sunday (6.11.11): 'Wills & Co were as dodgy as they come.'
Also Wills & Co were described by Tony Hetherington in the Mail on Sunday (6.11.11): 'Wills & Co were as dodgy as they come.'
Vin-X Ltd is the fine wine partner of Harpers Wine & Spirit Trades Review. Shakeshaft is involved in setting up the Wine Investment Association, a regulatory body with the aim of
safeguarding private investors, with three other wine investment companies. It is due to launch in the autumn.
Vin-X Ltd is represented by pha media – see here.
Peter Shakeshaft responded to comments made on Motley Fool in relation to Wills & Co and to Vin-X here. Lansdown and Katharine Pritchard, the compliance director of Wills & Co, were censured for failing to deal adequately with the issues the FSA raised in 2007. Lansdown and Pritchard did not contest the FSA's findings.
-->'You talk about stockbrokers and You suggest
I was a director of that firm That you know is not the case. I was Group CEO
and was regulated for Corporate Finance work only ! The FSA specifically
requested there was a Chinese wall between Stockbrokers and myself which I
strictly adhered to and the reason I was not publically censured , I
still believed that if I had more involvement in Stockbrokers I could have seen
that not enough risk warnings were applied ! And dont forget I was the
one that recruited Ernst and Young to review the business independently ! Does that sound like someone trying to hide something. I think not.'Vin-X Ltd is represented by pha media – see here.
Peter Shakeshaft responded to comments made on Motley Fool in relation to Wills & Co and to Vin-X here. Lansdown and Katharine Pritchard, the compliance director of Wills & Co, were censured for failing to deal adequately with the issues the FSA raised in 2007. Lansdown and Pritchard did not contest the FSA's findings.
10.9.2012: comment from Peter Shakeshaft:
17.9.12: comment from Peter Shakeshaft:
'As far as I am concerned I have told you I was not a director of stockbrokers whilst it held its FSA license. I have told you that I have owned Vin-X (formally Kestral) since 1990. Your blog should allude to both those facts. I was not fined nor was I publicly censured by the FSA following the stockbrokers notice. I was commended by its Administrators for not washing my hands and walking away and becoming a director to effect (with the Administrators) an orderly wind down. I am a Corporate Financier and as a consequence on the other side of a chinese wall ! I had no idea of what was occurring within stockbrokers (or any complaints) until after 2007 when I instantly (with The FSA's knowledge) took decisive action. As a corporate financier I had no understanding of running a stockbroking house and left that to others more qualified. The FSA after 2007 still expected me to maintain a chinese wall. Which I did.'
According to Companies House Peter Shakeshaft was a director of Wills & Co Stockbrokers Ltd from 23.8.2010 to 10.5.2011. The FSA issued a Final Notice on 31st October 2007 requiring changes to be made. Wills & Co appointed Ernst & Young in 2009. However, the FSA noted: 'Notwithstanding these reports, the FSA
considered that the Firm continued to pose a risk to customers and published a
Second Supervisory Notice in respect of this matter on 15 February 2010'.
Westminster Fine Wines Ltd: Recently formed company – 7.11.2011 with a
serviced/virtual office address and no track record. No mention of
directors on website. Not a company I would buy from, especially en
primeur.
Wine Asset Ltd: Amazingly high prices for ordinary Bordeaux wines with no investment potential. See warning on This is Money Company registered in Belize.
Wine Traders International (Assets Vin Rouge Ltd) + Bradshaw & Karr: closed in public interest now under police investigation
Wine Wholesale Ltd: cold calls, (annual return overdue since 19.7.2010) - now filed. Dormant company until 30.6.08. 'Our team has many years experience within the fine wine investment market and have managed portfolios for a wide audience, from first time investors through to wine connoisseurs.' 'even more so as there is no Capital Gains Tax on the profits you achieve'. Accounts overdue since 31.3.11 and the annual return since 26.11.2011. Proposal for complusory strike off issued 3.4.2012 but suspended 31.5.2012. Might be an objection from Customs & Revenue or a customer. It would appear that at least some of the wine ordered is not in the warehouse.
Winnington Fine Wines Ltd: set up 23.1.2012 but claims already (7.3.12) to be a 'leading wine broker' with 'a long term history of impressive returns'. Claim an storage account with London City Bond – no account with LCB (7.3.2012).
Worldwide Wine Investments Ltd (dissolved 28.9.10 on voluntary strike off)
Worldwide Wealth Collections Ltd: founded 11.7.2011. See Mirror investigation here.
Worldwide Wine Investments Ltd (Mark 2): Founded 28.3.2007 as Clearpoint Trading Ltd. Changed name 15.10.2010. Dormant company accounts made up to 31.3.2010. Milton Keynes address is virtual office. Cold calls, no track record for en primeur sales. 'These so called "investment-grade wines" from the Bordeaux region are finite as the 1855 French regulation restricts vineyards expansion.' What '1855 regulation' would this be?
Winnington Fine Wines Ltd: set up 23.1.2012 but claims already (7.3.12) to be a 'leading wine broker' with 'a long term history of impressive returns'. Claim an storage account with London City Bond – no account with LCB (7.3.2012).
Worldwide Wine Investments Ltd (dissolved 28.9.10 on voluntary strike off)
Worldwide Wealth Collections Ltd: founded 11.7.2011. See Mirror investigation here.
Worldwide Wine Investments Ltd (Mark 2): Founded 28.3.2007 as Clearpoint Trading Ltd. Changed name 15.10.2010. Dormant company accounts made up to 31.3.2010. Milton Keynes address is virtual office. Cold calls, no track record for en primeur sales. 'These so called "investment-grade wines" from the Bordeaux region are finite as the 1855 French regulation restricts vineyards expansion.' What '1855 regulation' would this be?
'Therefore it is viewed as a perishable commodity with a shelf life of between 30-50 years. So as long as you don’t hold your wine for over 50 years you are completely exempt from CGT, meaning it's a tax free investment and you keep all your profits,'. Suggest you read HMRC's Bulletin 42 on wines & spirits tax treatment and, while you are at it, take a look at the implications of inheritance tax.
'During the course of the lifetime of your investment World-Wide Wine Investment will liaise with London City Bond and Vinoteque (sic)'. Currently Worldwide Wine Investments Ltd has no account at London City Bond (LCB). Update: 28.3.2011: still no account at LCB. However, they told a putative client who they cold called that they will be 'opening an account there this week'.
4.5.11: Company now has a private account at LCB but no trade account.
www.1855.com: considerable delays in supplying en primeur with some clients still waiting for 2003s, 2004s, 2005s, 2006s and 2007s. Over 501 cases outstanding (estimate value 297,657€ – 6.3.11) and shocking tales of serial promises broken. Probationary member of Fevad. Rated 19/100 by creditsafe (solvabilité enterprise) – 'company in debt status (Social Security preferential right)'
Last updated: 29th April 2013
