Caseware UK (AP4) 2024.0.164 2024.0.164 2025-07-31 2025-07-31 2025-07-31 No description of principal activity 2024-08-01 false 0 2 true false false 04545772 2024-08-01 2025-07-31 04545772 2023-05-01 2024-07-31 04545772 2025-07-31 04545772 2024-07-31 04545772 2023-05-01 04545772 c:CompanySecretary1 2024-08-01 2025-07-31 04545772 c:Director1 2024-08-01 2025-07-31 04545772 c:Director2 2024-08-01 2025-07-31 04545772 c:RegisteredOffice 2024-08-01 2025-07-31 04545772 d:Buildings d:LongLeaseholdAssets 2024-08-01 2025-07-31 04545772 d:MotorVehicles 2024-08-01 2025-07-31 04545772 d:FurnitureFittings 2024-08-01 2025-07-31 04545772 d:OtherPropertyPlantEquipment 2024-08-01 2025-07-31 04545772 d:CurrentFinancialInstruments 2025-07-31 04545772 d:CurrentFinancialInstruments 2024-07-31 04545772 d:CurrentFinancialInstruments d:WithinOneYear 2025-07-31 04545772 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 04545772 d:ShareCapital 2025-07-31 04545772 d:ShareCapital 2024-07-31 04545772 d:ShareCapital 2023-05-01 04545772 d:RetainedEarningsAccumulatedLosses 2024-08-01 2025-07-31 04545772 d:RetainedEarningsAccumulatedLosses 2025-07-31 04545772 d:RetainedEarningsAccumulatedLosses 2023-05-01 2024-07-31 04545772 d:RetainedEarningsAccumulatedLosses 2024-07-31 04545772 d:RetainedEarningsAccumulatedLosses 2023-05-01 04545772 c:OrdinaryShareClass1 2024-08-01 2025-07-31 04545772 c:OrdinaryShareClass1 2025-07-31 04545772 c:OrdinaryShareClass1 2024-07-31 04545772 c:FRS102 2024-08-01 2025-07-31 04545772 c:Audited 2024-08-01 2025-07-31 04545772 c:FullAccounts 2024-08-01 2025-07-31 04545772 c:PrivateLimitedCompanyLtd 2024-08-01 2025-07-31 04545772 d:Subsidiary1 2024-08-01 2025-07-31 04545772 d:Subsidiary1 1 2024-08-01 2025-07-31 04545772 d:Subsidiary2 2024-08-01 2025-07-31 04545772 d:Subsidiary2 1 2024-08-01 2025-07-31 04545772 c:Consolidated 2025-07-31 04545772 c:ConsolidatedGroupCompanyAccounts 2024-08-01 2025-07-31 04545772 2 2024-08-01 2025-07-31 04545772 6 2024-08-01 2025-07-31 04545772 e:PoundSterling 2024-08-01 2025-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04545772 CYRANO PROPERTIES LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
CYRANO PROPERTIES LIMITED COMPANY INFORMATION
Directors | M Adlington
| S Adlington
Company secretary | M Adlington
Registered number | 04545772
Registered office | 24 Finch Drive
| Springwood Industrial Estate
| Braintree
| Essex
| CM7 2SF
Independent auditor | MHA
| Building 4
| Foundation Park
| Roxborough Way
| Maidenhead
| SL6 3UD
CYRANO PROPERTIES LIMITED CONTENTS
| Page
Group Strategic Report | 1
Directors' Report | 2 - 3
Independent Auditor's Report | 4 - 7
Consolidated Statement of Comprehensive Income | 8
Consolidated Balance Sheet | 9
Company Balance Sheet | 10
Consolidated Statement of Changes in Equity | 11
Company Statement of Changes in Equity | 12
Consolidated Statement of Cash Flows | 13 - 14
Consolidated Analysis of Net Debt | 15
Notes to the Financial Statements | 16 - 34
CYRANO PROPERTIES LIMITED GROUP STRATEGIC REPORT FOR THE YEAR ENDED 31 JULY 2025
Introduction
The Directors present their Strategic Report for the year ended 31 July 2025. The principal activity of the Group is the sale of sunbed products and the rental of sunbeds.
Business review
The Group had another successful period with increased turnover and remained very profitable.
Principal risks and uncertainties
In assessing the business risk facing the Group, focus is primarily upon the economic cycles in the markets in which we operate. Global inflationary rates, the sterling to euro exchange rate, fluid movement of goods and labour within the supply chain, the continued availability of liquidity within the bank lending sector and factory lead times all of which could have an effect on the company's future prospects.
Financial key performance indicators
The key performance indicators are those which focus on the elements of growth, profitability and quality of customer satisfaction. Financial KPIs are shown as follows: The results for the period ended 31 July 2024 is a 15 month period and therefore results are not directly comparable to the results for the year ended 31 July 2025. This report was approved by the board and signed on its behalf.
M Adlington Director
Date: 20 February 2026
Page 1
CYRANO PROPERTIES LIMITED DIRECTORS' REPORT FOR THE YEAR ENDED 31 JULY 2025 The Directors present their report and the financial statements for the year ended 31 July 2025.
Results and dividends
The profit for the year, after taxation, amounted to £499,266 (2024 - £1,509,175). During the year, the group paid a dividend of £400,000 (2024: £400,000).
Directors
The Directors who served during the year were:
M Adlington
S Adlington
Directors' responsibilities statement
The Directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated 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 the Group and of the profit or loss of the Group for that period. In preparing these financial statements, the Directors are required to: ∙select suitable accounting policies for the Group's financial statements and then apply them consistently; ∙make judgments 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 Group 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 the Group 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 the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 2
CYRANO PROPERTIES LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025
Disclosure of information to auditor
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 and the Group's auditor is 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 and the Group's auditor is aware of that information. This report was approved by the board and signed on its behalf.
M Adlington Director
Date: 20 February 2026
Page 3
CYRANO PROPERTIES LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CYRANO PROPERTIES LIMITED
Opinion
We have audited the financial statements of Cyrano Properties Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31 July 2025, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Analysis of Net Debt, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company 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 Group's and of the Parent Company's affairs as at 31 July 2025 and of the Group's profit 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Group 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 Group's or the Parent 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. Page 4
CYRANO PROPERTIES LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CYRANO PROPERTIES LIMITED (CONTINUED)
Other information
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's 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.
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 Group Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and ∙the Group Strategic Report and the Directors' Report have 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 Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or 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 by the Parent Company, or returns adequate for our audit have not been received from branches not visited by us; or ∙the Parent Company 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. Page 5
CYRANO PROPERTIES LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CYRANO PROPERTIES LIMITED (CONTINUED)
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 Group's and the Parent 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 Group or the Parent Company or to cease operations, or have no realistic alternative but to do so.
Auditor's 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 Auditor's 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 Group 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: ∙Enquiry of management and those charged with governance around actual and potential litigation and claims; ∙Enquiry of staff to identify any instances of non-compliance with laws and regulations; ∙Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness; evaluating the business rationale of significant transactions outside the normal course of business for reviewing accounting estimates for bias; ∙Reviewing a sample of sales transactions before and after the year end to ensure sales have been recorded in the correct financial period; ∙Performing testing over the valuation and existence of stock held at the year end through attendance of the stocktake at 31 July 2025 and reviewing sales and purchase invoices to gain assurance that stock is held at the correct value; and ∙Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. 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 Auditor's Report. Page 6
CYRANO PROPERTIES LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CYRANO PROPERTIES 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 Auditor's 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. KATHARINE ARNOTT BSc FCA (Senior Statutory Auditor) for and on behalf of MHA Statutory Auditor Maidenhead, United Kingdom 20 February 2026 MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542). Page 7
CYRANO PROPERTIES LIMITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 JULY 2025
| Year ended 31 July | 15m period ended 31 July
| 2025 | 2024
Note | £ | £
Turnover | 4 | 10,868,187 | 15,744,227
Cost of sales |  | (7,241,082) | (10,531,068)
Gross profit |  | 3,627,105 | 5,213,159
Distribution costs |  | (415,015) | (650,400)
Administrative expenses |  | (2,522,785) | (2,512,512)
Other operating income | 5 | - | 6,250
Operating profit | 6 | 689,305 | 2,056,497
Interest receivable and similar income | 10 | 14,630 | 44,397
Interest payable and similar expenses | 11 | (36,265) | (102,257)
Profit before tax |  | 667,670 | 1,998,637
Tax on profit | 12 | (168,404) | (489,462)
Profit for the financial year |  | 499,266 | 1,509,175
Profit for the year attributable to: |  |  |
Owners of the Parent Company |  | (499,266) | (1,509,175)
|  | (499,266) | (1,509,175)
There were no recognised gains and losses for 2025 or 2024 other than those included in the consolidated statement of comprehensive income.
There was no other comprehensive income for 2025 (2024:£NIL).
The notes on pages 16 to 34 form part of these financial statements.
Page 8
CYRANO PROPERTIES LIMITED REGISTERED NUMBER: 04545772 CONSOLIDATED BALANCE SHEET AS AT 31 JULY 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 14 |  | 1,445,326 |  | 1,220,192
Investment property | 16 |  | - |  | 715,443
|  |  | 1,445,326 |  | 1,935,635
Current assets |  |  |  |  |
Stocks | 17 | 4,620,982 |  | 5,315,585 |
Debtors: amounts falling due within one year | 18 | 1,875,207 |  | 1,825,412 |
Cash at bank and in hand | 19 | 1,653,128 |  | 2,003,701 |
|  | 8,149,317 |  | 9,144,698 |
Creditors: amounts falling due within one year | 20 | (2,382,096) |  | (3,922,052) |
Net current assets |  |  | 5,767,221 |  | 5,222,646
Creditors: amounts falling due after more than one year | 21 |  | (71,249) |  | (166,249)
Provisions for liabilities |  |  |  |  |
Deferred tax | 23 | (342,400) |  | (292,400) |
|  |  | (342,400) |  | (292,400)
Net assets |  |  | 6,798,898 |  | 6,699,632
Capital and reserves |  |  |  |  |
Called up share capital | 24 |  | 4 |  | 4
Profit and loss account | 25 |  | 6,798,894 |  | 6,699,628
|  |  | 6,798,898 |  | 6,699,632
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
M Adlington
Director
Date: 20 February 2026
Page 9
CYRANO PROPERTIES LIMITED REGISTERED NUMBER: 04545772 COMPANY BALANCE SHEET AS AT 31 JULY 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investments | 15 |  | 2 |  | 2
|  |  | 2 |  | 2
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 18 | 356,866 |  | 302,612 |
Cash at bank and in hand | 19 | 629 |  | 55,054 |
|  | 357,495 |  | 357,666 |
Creditors: amounts falling due within one year | 20 | (8,756) |  | (12,486) |
Net current assets |  |  | 348,739 |  | 345,180
Total assets less current liabilities |  |  | 348,741 |  | 345,182
Net assets |  |  | 348,741 |  | 345,182
Capital and reserves |  |  |  |  |
Called up share capital | 24 |  | 4 |  | 4
Profit and loss account carried forward |  |  | 348,737 |  | 345,178
|  |  | 348,741 |  | 345,182
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
M Adlington
Director
Date: 20 February 2026
The notes on pages 16 to 34 form part of these financial statements. Page 10
CYRANO PROPERTIES LIMITED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 JULY 2025
| Called up share capital | Profit and loss account | Equity attributable to owners of Parent Company | Total equity
| £ | £ | £ | £
At 1 May 2023 | 4 | 5,590,453 | 5,590,457 | 5,590,457
Profit for the period | - | 1,509,175 | 1,509,175 | 1,509,175
Dividends paid | - | (400,000) | (400,000) | (400,000)
At 1 August 2024 | 4 | 6,699,628 | 6,699,632 | 6,699,632
Profit for the year | - | 499,266 | 499,266 | 499,266
Dividends paid | - | (400,000) | (400,000) | (400,000)
At 31 July 2025 | 4 | 6,798,894 | 6,798,898 | 6,798,898
| The notes on pages 16 to 34 form part of these financial statements.
Page 11
CYRANO PROPERTIES LIMITED COMPANY STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 JULY 2025
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 May 2023 | 4 | 347,068 | 347,072
Profit for the period | - | 398,110 | 398,110
Dividends paid | - | (400,000) | (400,000)
At 1 August 2024 | 4 | 345,178 | 345,182
Profit for the year | - | 403,559 | 403,559
Dividends paid | - | (400,000) | (400,000)
At 31 July 2025 | 4 | 348,737 | 348,741
| The notes on pages 16 to 34 form part of these financial statements.
Page 12
CYRANO PROPERTIES LIMITED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY 2025
|  |  | 2025 | 2024
|  |  | £ | £
Cash flows from operating activities |  |
Profit for the financial year | 499,266 | 1,509,175
Adjustments for: |  |
Depreciation of tangible assets | 474,454 | 300,146
(Profit)/loss on disposal of tangible assets | (34,557) | 2,421
Interest paid | 36,265 | 102,257
Interest received | (14,630) | (44,397)
Taxation charge | 168,404 | 489,462
Decrease/(increase) in stocks | 694,603 | (1,019,369)
(Increase)/decrease in debtors | (249,769) | 393,180
(Decrease)/increase in creditors | (1,175,887) | 727,825
Corporation tax (paid) | (282,499) | (386,723)
Net cash generated from operating activities | 115,650 | 2,073,977
Cash flows from investing activities |  |
Purchase of tangible fixed assets | (699,588) | (935,733)
Sale of tangible fixed assets | 34,557 | -
Sale of investment properties | 715,443 | -
Interest received | 14,630 | 44,397
Net cash from investing activities | 65,042 | (891,336)
Cash flows from financing activities |  |
Repayment of loans | (95,000) | (484,593)
Dividends paid | (400,000) | (400,000)
Interest paid | (36,265) | (102,257)
Net cash used in financing activities | (531,265) | (986,850)
Net (decrease)/increase in cash and cash equivalents | (350,573) | 195,791
Cash and cash equivalents at beginning of year | 2,003,701 | 1,844,113
Cash and cash equivalents at the end of year | 1,653,128 | 2,039,904
Page 13
CYRANO PROPERTIES LIMITED CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025
|  | 2025 | 2024
|  | £ | £
Cash and cash equivalents at the end of year comprise: |  |
Cash at bank and in hand | 1,653,128 | 2,003,701
| 1,653,128 | 2,003,701
The notes on pages 16 to 34 form part of these financial statements.
Page 14
CYRANO PROPERTIES LIMITED CONSOLIDATED ANALYSIS OF NET DEBT FOR THE YEAR ENDED 31 JULY 2025
| At 1 August 2024 | Cash flows | At 31 July 2025
| £ | £ | £
Cash at bank and in hand | 2,003,701 | (350,573) | 1,653,128
Debt due after 1 year | (166,249) | 95,000 | (71,249)
Debt due within 1 year | (102,498) | - | (102,498)
| 1,734,954 | (255,573) | 1,479,381
The notes on pages 16 to 34 form part of these financial statements.
Page 15
CYRANO PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
1. | General information
Cyrano Properties Limited is a limited liability company incorporated in England and Wales, registered number 04545772. The Company registration office is 24 Finch Drive, Springwood Industrial Estate, Braintree, Essex, CM7 2SF. The principal activity of the Group is the sale of sunbed products and the rental of sunbeds. The financial statements are presented in pound sterling which is the functional currency of the Company and rounded to the nearest pound. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been applied to all years presented unless otherwise stated. The results for the period ended 31 July 2024 is a 15 month period and therefore results are not directly comparable to the results for the year ended 31 July 2025. 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 Group management to exercise judgment in applying the Group's accounting policies (see note 3). The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements. The following principal accounting policies have been applied:
| 2.2 | Basis of consolidation
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full. The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases. Page 16
CYRANO PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.Accounting policies (continued)
| 2.3 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
| 2.4 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group 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 Group has transferred the significant risks and rewards of ownership to the buyer; ∙the Group 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 Group 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 Group 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. Page 17
CYRANO PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.Accounting policies (continued)
| 2.5 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.6 | 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.
| 2.7 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.8 | Pensions
Defined contribution pension plan The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group 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 Group in independently administered funds. Page 18
CYRANO PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.Accounting policies (continued)
| 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 and the Group operate and generate 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; ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and ∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future. 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. Page 19
CYRANO PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.Accounting policies (continued)
| 2.10 | Tangible fixed assets
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following basis:
|  |  |  | Improvements to property | - | 10% |
|  |  |  | Motor vehicles | - | 25% |
|  |  |  | Fixtures and fittings | - | 25% |
|  |  |  | Profit share beds | - | 25% |
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 | Investment property
Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
| 2.12 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
| 2.13 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss. Stock also includes amounts in relation to goods in transit, where the Group has assumed the risks and rewards over the stock as it is being transported.
| 2.14 | 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. Page 20
CYRANO PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.Accounting policies (continued)
| 2.15 | 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. In the Consolidated Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.
| 2.16 | 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 21
CYRANO PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.Accounting policies (continued)
| 2.17 | 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.
| 2.18 | Financial instruments
The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Group's Balance Sheet when the Group becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 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 Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Other financial assets Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment. 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 Page 22
CYRANO PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.Accounting policies (continued)
| 2.18 | Financial instruments (continued)
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 Group after the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies 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. 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.
| 2.19 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
The following judgements (including the key areas of estimation uncertainty) have had the most significant effect on amounts recognised in the financial statements: Fair value of investment property Freehold investment property is held at fair value based on the directors' conclusions, having consulted and reviewed the current market conditions. The valuations are based on estimated rental values in the surrounding area to the property which includes judgements relating to various market factors and conditions. Page 23
CYRANO PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
4. | Turnover
| An analysis of turnover by class of business is as follows:
|  |  |  |  | 31 July | Period to 31 July
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Retailing of leisure equipment and products | 10,868,187 | 15,744,227
Analysis of turnover by country of destination:
|  |  |  |  | 31 July | Period to 31 July
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| United Kingdom | 10,586,605 | 15,222,291
| Rest of Europe | 281,582 | 521,936
|  | 10,868,187 | 15,744,227
5. | Other operating income
|  |  |  |  | 31 July | Period to 31 July
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Rents receivable | - | 6,250
6. | Operating profit
| The operating profit is stated after charging:
|  |  |  |  | 31 July | Period to 31 July
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Exchange differences | (82,361) | (70,647)
| Depreciation | 474,454 | 300,146
Page 24
CYRANO PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
7. | Auditor's remuneration
| During the year, the Group obtained the following services from the Company's auditor:
|  |  |  |  | 31 July | Period to 31 July
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fees payable to the Company's auditor for the audit of the consolidated and parent Company's financial statements | 19,800 | 22,500
| Non audit services | 6,200 | 6,150
| Taxation services | 2,950 | 2,950
8. | Employees
| Staff costs, including Directors' remuneration, were as follows:
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Wages and salaries | 836,510 | 943,641
| Social security costs | 71,118 | 64,982
| Cost of defined contribution scheme | 252,718 | 133,679
|  | 1,160,346 | 1,142,302
| The average monthly number of employees, including the Directors, during the year was as follows:
|  |  | Group | Group | Company | Company
|  |  | 31 July | Period to 31 July | 31 July | Period to 31 July
|  |  | 2025 | 2024 | 2025 | 2024
|  |  | No. | No. | No. | No.
|  | Employees | 23 | 22 | - | 2
9. | Directors' remuneration
| During the year retirement benefits were accruing to no Directors (2024 - 2) in respect of defined contribution pension schemes.
Page 25
CYRANO PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
10. | Interest receivable
|  |  |  |  | 31 July | Period to 31 July
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank interest receivable | 14,630 | 44,397
|  | 14,630 | 44,397
11. | Interest payable and similar expenses
|  |  |  |  | 31 July | Period to 31 July
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank interest payable | 17,052 | 81,776
| Other interest payable | 19,213 | 20,481
|  | 36,265 | 102,257
12. | Taxation
|  |  |  |  | 31 July | Period to 31 July
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Corporation tax |  |
| Current tax on profits for the year | 118,404 | 349,315
| Adjustments in respect of previous periods | - | (13,253)
|  | 118,404 | 336,062
| Total current tax | 118,404 | 336,062
| Deferred tax |  |
| Origination and reversal of timing differences | 50,000 | 153,400
| Total deferred tax | 50,000 | 153,400
|  | 168,404 | 489,462
Page 26
CYRANO PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 12.Taxation (continued)
| Factors affecting tax charge for the year/period
| The tax assessed for the year/period is higher than (2024 - lower than) the standard rate of corporation tax in the UK of 25% (2024 - 25%). The differences are explained below:
|  |  |  |  | 31 July | Period to 31 July
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Profit on ordinary activities before tax | 667,670 | 1,998,637
| Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%) | 166,918 | 499,659
| Effects of: |  |
| Expenses not deductible for tax purposes, other than goodwill amortisation and impairment | 5,538 | 2,037
| Fixed asset differences | (4,052) | 1,019
| Adjustments to tax charge in respect of prior periods | - | (13,253)
| Total tax charge for the year/period | 168,404 | 489,462
| Factors that may affect future tax charges
There were no factors that may affect future tax charges.
13. | Dividends
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Dividends paid | 400,000 | 400,000
|  | 400,000 | 400,000
Page 27
CYRANO PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
14. | Tangible fixed assets
| Group
|  | Leasehold improvements | Motor vehicles | Fixtures and fittings | Sunbeds
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 August 2024 | 86,286 | 208,986 | 163,973 | 2,524,077
| Additions | 5,216 | 14,950 | 8,881 | 670,541
| At 31 July 2025 | 91,502 | 223,936 | 172,854 | 3,194,618
| Depreciation |  |  |  |
| At 1 August 2024 | 54,281 | 121,106 | 129,679 | 1,458,064
| Charge for the year on owned assets | - | 29,369 | 10,947 | 434,138
| At 31 July 2025 | 54,281 | 150,475 | 140,626 | 1,892,202
| Net book value |  |  |  |
| At 31 July 2025 | 37,221 | 73,461 | 32,228 | 1,302,416
| At 31 July 2024 | 32,005 | 87,880 | 34,294 | 1,066,013
|  | Total
|  | £
| Cost or valuation |
| At 1 August 2024 | 2,983,322
| Additions | 699,588
| At 31 July 2025 | 3,682,910
| Depreciation |
| At 1 August 2024 | 1,763,130
| Charge for the year on owned assets | 474,454
| At 31 July 2025 | 2,237,584
| Net book value |
| At 31 July 2025 | 1,445,326
| At 31 July 2024 | 1,220,192
Page 28
CYRANO PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
15. | Fixed asset investments
| Company
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 August 2024 | 2
| At 31 July 2025 | 2
| Subsidiary undertakings
| The following were subsidiary undertakings of the Company:
| Name | Registered office | Class of shares | Holding
| Cyrano Limited | 24 Finch Drive,Springwood Industrial Estate, Braintree, Essex, CM7 2SF. | Ordinary | 100%
| Cyrano Holdings Limited | 24 Finch Drive,Springwood Industrial Estate, Braintree, Essex, CM7 2SF. | Ordinary | 56%
| The aggregate of the share capital and reserves as at 31 July 2025 and the profit or loss for the year ended on that date for the subsidiary undertakings was as follows:
| Name | Profit/(Loss)
|  | £
| Cyrano Limited | 6,845,281
| Cyrano Holdings Limited | 9
Page 29
CYRANO PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
16. | Investment property
| Group
|  | Freehold investment property
|  | £
| At 1 August 2024 | 715,443
| Disposals | (715,443)
| At 31 July 2025 | -
The 2025 valuations were made by the Directors, on an open market value for existing use basis.
| If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Historic cost | - | 715,443
|  | - | 715,443
The 2025 valuations were made by the Directors, on an open market value for existing use basis.
17. | Stocks
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Goods in transit | 664,150 | 711,047
| Finished goods and goods for resale | 3,956,832 | 4,604,538
|  | 4,620,982 | 5,315,585
| The difference between purchase price or production cost of stocks and their replacement cost is not material.
Page 30
CYRANO PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
18. | Debtors
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Trade debtors | 1,458,492 | 1,333,957 | - | -
| Amounts owed by group undertakings | - | - | 356,866 | 302,612
| Other debtors | 296,745 | 428,002 | - | -
| Prepayments and accrued income | 119,970 | 63,453 | - | -
|  | 1,875,207 | 1,825,412 | 356,866 | 302,612
19. | Cash and cash equivalents
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Cash at bank and in hand | 1,653,128 | 2,003,701 | 629 | 55,054
20. | Creditors: Amounts falling due within one year
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Bank loan | 95,000 | 95,000 | - | -
| Trade creditors | 1,737,944 | 2,716,506 | - | -
| Corporation tax | - | 364,069 | - | -
| Other taxation and social security | 425,758 | 703,879 | 1,258 | 1,258
| Other creditors | 10,445 | 15,118 | 7,498 | 7,498
| Accruals and deferred income | 112,949 | 27,480 | - | 3,730
|  | 2,382,096 | 3,922,052 | 8,756 | 12,486
| The following liabilities were secured:
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Bank loan | 95,000 | 95,000
|  | 95,000 | 95,000
| Details of security provided:
The bank loan is secured by a fixed and floating charge over the company's assets. Page 31
CYRANO PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
21. | Creditors: Amounts falling due after more than one year
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Bank loan | 71,249 | 166,249
|  | 71,249 | 166,249
| The following liabilities were secured:
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Bank loan | 71,249 | 166,249
|  | 71,249 | 166,249
| Details of security provided:
The bank loan is secured by a fixed and floating charge over the company's assets. Please provide details of the terms of payment or repayment and the rates of any interest payable on the amounts repayable more than five years after the balance sheet date.
22. | Loans
| Analysis of the maturity of the loan is given below:
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Amounts falling due within one year |  |
| Bank loan | 95,000 | 95,000
| Amounts falling due 1-2 years |  |
| Bank loan | 71,249 | 95,000
| Amounts falling due 2-5 years |  |
| Bank loan | - | 71,249
| Amounts falling due after more than 5 years |  |
|  | 166,249 | 261,249
Page 32
CYRANO PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
23. | Deferred taxation
| Group
|  | 2025
|  | £
| At beginning of year | 292,400
| Charged to profit or loss | 50,000
| At end of year | 342,400
| Company
|  | 2025
| At end of year | -
| The provision for deferred taxation is made up as follows:
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Accelerated capital allowances | 342,400 | 292,400
|  | 342,400 | 292,400
24. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 4 (2024 - 4) Ordinary shares of £1.00 each | 4 | 4
25. | Reserves
Profit and loss account Profit and loss account represents the accumulation of retained profits, net of dividends, which are in the form of distributable reserves. Page 33
CYRANO PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
26. | Pension commitments
The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £252,718 (2024 - £133,679). Contributions totalling £2,799 (2024 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.
27. | Related party transactions
| Dividends of £200,000 (2024 - £200,000) were paid to each director during the year. At 31 July 2025 the Company was owed £53,980 by Mr S Adlington (2024 - £129,240) and £9,290 by Mr M Adlington (2024 - £23,718), both of whom are Directors. Solmia LLP, a company under the control of the Directors owed Cyrano Limited £4,832 (2024 - £2,932) at the balance sheet date. During the year, Cyrano Limited disposed of a warehouse to The Cyrano Limited SSAS, a pension scheme in which the Directors have an interest and is therefore considered a related party. The warehouse was sold for £750,000. At the year end, no amounts were outstanding in respect of this transaction.
28. | Controlling party
The Company was under the joint control of its directors, Mr M Adlington and Mr S Adlington, throughout the current and previous year by virtue of their collective 100% shareholding.
Page 34