Poundstock is a small village about four miles S of Bude. The church lies to the S of the village and was built of freestone ashlar, rubble with freestone and granite dressings. The structure consists of a transept dating to the 13thc, a nave, a N aisle, a chancel and a W tower, all rebuilt in the 15thc, and a S porch added in the 19thc. The church was restored by John Dando Sedding and George Fellowes Prynne in 1896. The Romanesque church seems to have been a cruciform structure: it probably consisted of a nave, a chancel and a S transept, of which only the lower portions of the walls remain (Sedding 1909, 340). The Transitional font placed in the N aisle and a fragmentary colonnette are the only relevant carvings.

The Domesday Survey records that 'Pondestoch' was under the manor of Launcells. In 1066 Poundstock was held by Earl Harold, having been held by Countess Gytha of Wessex before the Conquest; in 1086 it was under the lordship of Iovin the Craftsman, being King William and Count Robert of Mortain tenants-in-chief. The earliest recorded mentions of a church at Poundstock refer to 1282, when the rector of Morwenstow seized the parish church and installed his own incumbent, and to 1261, when the rector of Poundstock was excommunicated. In 1333 the church was dedicated to 'Sancti Wynwolai', but in 1742 it was recorded as St Neot's church; during the 1970s it was dedicated again to St Winwaloe (Orme 1996, 112).

The same arrangement of arches on the font occurs at St Tudy; the font at Poughill is also similar, but with eight arches per tier. This type of square-bowled font with shallow niches is frequently found in NE Cornwall. Nikolaus Pevsner dates it to the 13thc, and Edmund Harold Sedding considers it as a late Norman work. This group of fonts span the late Romanesque and the early Gothic period, but their very simplicity provides few clues for precise dating. The most universal feature of Poundstock is the square central shaft, while the round shaft is far commoner.