Combine the wine, water and sugar in a large saucepan and simmer over medium heat until slightly reduced.
Add the peach halves and summer until the sauce becomes syrupy.
Store half in a freezer bag in the freezer until needed, and use the other half to make up some BROWN SUGAR RAISIN BREAD WITH PEACHES:
Brush the bread with melted butter and sprinkle the sugar on both sides.
Cook in a heated frying pan on both sides, sprinkling with more sugar as you turn to cook the other side.
Mix the ricotta cheese with the honey and cinnamon.
Spread the toasted bread with a dollop of ricotta, add poached peaches and drizzle with the peachy wine sauce from the poaching.
TIPS: Plums work just as well. You can also serve the defrosted fruit with fresh cream or creamy custard.