Cirrus Limited

	Page
Company Information	1
Strategic Report	2
Directors' Report	3—4
Independent Auditor's Report	5—7
Profit and Loss Account	8
Statement of Comprehensive Income	9
Balance Sheet	10
Statement of Changes in Equity	11
Statement of Cash Flows	12
Notes to the Statement of Cash Flows	13
Notes to the Financial Statements	14—19

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Cirrus Limited

Strategic Report

For The Year Ended 30 November 2025

Strategic Report

The directors present their strategic report for the year ended 30 November 2025.

Review of the Business

The company's turnover has increased compared to the prior year. Gross profit margin has increased to 25.44% (2024: 20.02%) as has net profit margin which stands at 9.93% (2024: 5.54%). Profit before tax is £2.00m, up from last year's £1.10m showing a decrease throughout all the key financial indicators.

Despite the difficulties of global inflation the company has maintained a strong level of production and has continued to make investments in the business and deliver high quality products on demand. There have been improvements to machinery and buildings during the year to ensure production continues to maintain standards and upgrades to the electrical supply system.

The directors believe the company has performed well during the year and will continue to do so in the future.

Principal Risks and Uncertainties

There are certain risk factors which could affect the company's future and cause them to be materially different from expected results. The factors considered should not be regarded as a complete and comprehensive statement of all risks and uncertainties.

Operational Risk and Market Conditions

The company works primarily with customers within the wholesale food market and as such demand is dependent on activity levels in this area. Adverse macroeconomic conditions and a deterioration in the economic environment may lead to customers demand decreasing and therefore effecting turnover. The company attempts to mitigate this risk by having a wide customer base.

Credit Risk

The company provides credit to customers and as a result there is an associated risk that the customer may not be able to pay outstanding balances. The company has established procedures and credit control policies around managing its receivables and takes action were necessary. All major outstanding and overdue balances together with significant potential exposures are reviewed regularly and concerns are discussed with directors.

Foreign Exchange Risk

The company is exposed to some foreign exchange risk in the normal course of business the directors keep a constant review of their exposure to exchange risk.

Liquidity Risk

The company has short term finance in place that is designed to ensure the company has sufficient funds available for operations.

On behalf of the board

Mr Alvin Doak

Director

11/08/2026

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Cirrus Limited

Company No. NI020574

Directors' Report For The Year Ended 30 November 2025

Directors' Report

The directors present their report and the financial statements for the year ended 30 November 2025.

Principal Activity

The company's principal activity continues to be manufacturing of plastic plates, sheets, tubes and profiles.

Dividends

The value of dividends paid amounted to £NIL .

Directors

The directors who held office during the year were as follows:

Mr Alvin Doak

Ms Joeleen Doak

Mr Stewart Doak

Mrs Edna Doak

Statement of Directors' Responsibilities

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

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

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

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

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Cirrus Limited

Directors' Report (continued)

For The Year Ended 30 November 2025

Independent Auditors

The auditors, WHR Accountants Ltd, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Mr Alvin Doak

Director

11/08/2026

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Independent Auditor's Report

to the Members of

Cirrus Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Cirrus Limited for the year ended 30 November 2025 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity, Cash Flow Statement 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 30 November 2025 and of its profit/(loss) for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'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 entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

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

Other Information

The other information comprises the information included in the annual report, other than the financial statements and our 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. In connection with our audit of the financial statements, 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 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.

Opinions 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 Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

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Independent Auditor's Report (continued)

to the Members of

Cirrus Limited

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the 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, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records or 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.

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement set out on page 3—4, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

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 financial statements.

Irregularities, including fraud, and 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:

-the Company's own assessment of the risk that irregularities may occur either as a result of fraud or error;

-the results of our enquiries of management about their own identification and assessment of the risks of irregularities;

-any matters we identified having obtained and reviewed the Company's documentation of their policies and procedures relating to:

identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; and

the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; and

-the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

In addition to the above, our procedures to respond to risks identified included the following:

-reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

-enquiring of management, directors concerning actual and potential litigation and claims;

-performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

-reading minutes of meeting of directors, reviewing internal audit reports and reviewing correspondence with HMRC; and

-in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments;

-assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and

-evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

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.

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

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Independent Auditor's Report (continued)

to the Members of

Cirrus Limited

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 that 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.

James Robinson (Senior Statutory Auditor)

for and on behalf of WHR Accountants Ltd , Statutory Auditor

11/08/2026

WHR Accountants Ltd

Chartered Certifiied Accountants

56 English Street

Armagh

Co. Armagh

BT61 7LG

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Cirrus Limited

Profit and Loss Account

For The Year Ended 30 November 2025

Profit and Loss Account

		2025	2024
	Notes	£	£
TURNOVER	3	20,126,276	19,901,304
Cost of sales		(15,006,471 )	(15,872,482 )

GROSS PROFIT		5,119,805	4,028,822

Administrative expenses		(3,183,257 )	(2,959,451 )
Other operating income		81,422	2,801

OPERATING PROFIT	5	2,017,970	1,072,172
Profit on disposal of fixed assets		2,136	-
Other interest receivable and similar income	10	58,889	45,190
Interest payable and similar charges	11	(79,613 )	(14,954 )

PROFIT BEFORE TAXATION		1,999,382	1,102,408
Tax on Profit	12	(517,270 )	(279,491 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		1,482,112	822,917

The notes on pages 13 to 19 form part of these financial statements.

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Cirrus Limited

Statement of Comprehensive Income

For The Year Ended 30 November 2025

Statement of Comprehensive Income

	2025	2024
	£	£
PROFIT FOR THE FINANCIAL YEAR	1,482,112	822,917
OTHER COMPREHENSIVE INCOME FOR THE YEAR	-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR	1,482,112	822,917

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Cirrus Limited

Balance Sheet

As At 30 November 2025

Balance Sheet

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	13		7,137,299		6,060,548

			7,137,299		6,060,548
CURRENT ASSETS
Stocks	14	1,181,416		1,719,470
Debtors	15	6,629,283		4,950,502
Cash at bank and in hand		4,816,820		4,893,431

		12,627,519		11,563,403
Creditors: Amounts Falling Due Within One Year	16	(3,765,159 )		(3,262,641 )

NET CURRENT ASSETS (LIABILITIES)			8,862,360		8,300,762

TOTAL ASSETS LESS CURRENT LIABILITIES			15,999,659		14,361,310

PROVISIONS FOR LIABILITIES
Deferred Taxation	17		(907,695 )		(751,458 )

NET ASSETS			15,091,964		13,609,852

CAPITAL AND RESERVES
Called up share capital	19		75,000		75,000
Capital redemption reserve			25,000		25,000
Profit and Loss Account			14,991,964		13,509,852

SHAREHOLDERS' FUNDS			15,091,964		13,609,852

On behalf of the board

Mr Alvin Doak

Director

11/08/2026

The notes on pages 13 to 19 form part of these financial statements.

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Cirrus Limited

Statement of Changes in Equity

For The Year Ended 30 November 2025

Statement of Changes in Equity

	Share Capital	Capital Redemption	Profit and Loss Account	Total
	£	£	£	£
As at 1 December 2023	75,000	25,000	12,686,935	12,786,935
Profit for the year and total comprehensive income	-	-	822,917	822,917

As at 30 November 2024 and 1 December 2024	75,000	25,000	13,509,852	13,609,852


Profit for the year and total comprehensive income	-	-	1,482,112	1,482,112

As at 30 November 2025	75,000	25,000	14,991,964	15,091,964

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Cirrus Limited

Statement of Cash Flows

For The Year Ended 30 November 2025

Statement of Cash Flows

		2025	2024
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	1,937,879	2,147,313
Interest paid		(79,613 )	(14,954 )
Tax paid		(245,421 )	(135,151 )

Net cash generated from operating activities		1,612,845	1,997,208

Cash flows from investing activities
Proceeds from disposal of intangible assets		2,136	-
Purchase of tangible assets		(1,837,212 )	(1,101,438 )
Proceeds from disposal of tangible assets		7,690	-
Grants received		79,041	-
Interest received		58,889	45,190

Net cash used in investing activities		(1,689,456 )	(1,056,248 )



(Decrease)/increase in cash and cash equivalents		(76,611 )	940,960
Cash and cash equivalents at beginning of year	2	4,893,431	3,952,471

Cash and cash equivalents at end of year	2	4,816,820	4,893,431

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Cirrus Limited

Notes to the Statement of Cash Flows

For The Year Ended 30 November 2025

Notes to the Statement of Cash Flows

1. Reconciliation of profit for the financial year to cash generated from operations

	2025	2024
	£	£
Profit for the financial year	1,482,112	822,917
Adjustments for:
Tax on profit	517,270	279,491
Interest expense	79,613	14,954
Interest income	(58,889 )	(45,190 )
Depreciation of tangible assets	752,771	707,131
Profit on disposal of intangible assets	(2,136)	-
Grant income	(81,422)	(2,801)
Movements in working capital:
Decrease/(increase) in stocks	538,054	(716,468 )
(Increase)/decrease in trade and other debtors	(1,678,781 )	1,115,310
Increase/(decrease) in trade and other creditors	389,287	(28,031 )

Net cash generated from operations	1,937,879	2,147,313

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2025	2024
	£	£
Cash at bank and in hand	4,816,820	4,893,431

3. Analysis of changes in net funds

	As at 1 December 2024	Cash flows	As at 30 November 2025
	£	£	£
Cash at bank and in hand	4,893,431	(76,611)	4,816,820

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Cirrus Limited

Notes to the Financial Statements

For The Year Ended 30 November 2025

Notes to the Financial Statements

1. General Information

Cirrus Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI020574 . The registered office is Esky Drive, Carn Industrial Estate, Portadown, Co Armagh, BT63 5RH.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.The financial statements are prepared in sterling which is the functional currency of the company and rounded to the nearest £000.

2.2. Significant judgements and estimations

In preparing these financial statements, management is required to make judgements, estimates and assumptions that affect the application of the Company’s accounting policies and the reported amounts of assets, liabilities, income and expenses, as required by FRS 102. These judgements and estimates are based on historical experience and other factors considered reasonable in the circumstances, and the resulting accounting estimates may differ from actual outcomes.

Management has not identified any critical judgements, apart from those involving estimation, that have had a significant effect on the amounts recognised in the financial statements.

Areas involving a higher degree of estimation uncertainty are those where assumptions or measurement techniques may materially affect the carrying amounts of assets and liabilities within the next financial year. Where such judgements or estimates have been applied, the key factors considered and the basis of the underlying assumptions are set out in the relevant accounting policies and the corresponding notes to these financial statements.

Recoverability of Trade Debtors

The Company establishes a provision for trade debtors that are estimated to not be recoverable. When assessing recoverability, management consider factors such as the aging of trade debts, past experience of recoverability, and the credit profile of individual or groups of customers. The carrying value of this provision at the year end was £40,671 (2024: £70,552).

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	4% Straight Line
Plant & Machinery	15% Reducing Balance
Motor Vehicles	25% Reducing Balance
Fixtures & Fittings	25% Reducing Balance

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Cirrus Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.

2.6. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.8. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Turnover

Analysis of turnover by geographical market is as follows:

	2025	2024
	£	£
United Kingdom	11,382,454	10,997,893
Europe	8,743,822	8,903,411

	20,126,276	19,901,304

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Cirrus Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

4. Other Operating Income

	2025	2024
	£	£
Grant income	81,422	2,801

	81,422	2,801

5. Operating Profit

The operating profit is stated after charging:

	2025	2024
	£	£
Bad debts	27,017	14,656
Depreciation of tangible fixed assets	752,771	707,131

6. Auditor's Remuneration

Remuneration received by the company's auditors and their associates during the year was as follows:

	2025	2024
	£	£
Audit Services
Audit of the company's financial statements	9,000	8,050

7. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2025	2024
	£	£
Wages and salaries	4,139,200	3,759,330
Social security costs	505,794	437,550
Other pension costs	113,077	112,051

	4,758,071	4,308,931

8. Average Number of Employees

Average number of employees, including directors, during the year was as follows:

	2025	2024
Office and administration	13	13
Manufacturing	50	52

	63	65

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Cirrus Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

9. Directors' remuneration

	2025	2024
	£	£
Emoluments	1,319,883	1,313,229
Company contributions to defined benefit pension schemes	52,642	55,000

	1,372,525	1,368,229

Information regarding the highest paid director was as follows:

	2025	2024
	£	£
Emoluments	672,851	668,149

10. Interest Receivable and Similar Income

	2025	2024
	£	£
Deposit account interest	58,889	45,190

11. Interest Payable and Similar Charges

	2025	2024
	£	£
Bank loans and overdrafts	69,617	3,365
Factoring charges	9,996	11,589

	79,613	14,954

12. Tax on Profit

The tax charge on the profit for the year was as follows:

	Tax Rate		2025	2024
	2025	2024	£	£
Current tax
UK Corporation Tax	25.0%	25.0%	361,033	245,421
Prior period adjustment			-	(10,429 )

			361,033	234,992
Deferred Tax
Deferred taxation			156,237	44,499


Total tax charge for the period			517,270	279,491

The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:

	2025	2024
	£	£
Profit before tax	1,999,382	1,102,408

Tax on profit at 25% (UK standard rate)	499,846	275,602

...CONTINUED

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Cirrus Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

Goodwill/depreciation not allowed for tax	187,658	176,783
Expenses not deductible for tax purposes	3,183	2,173
Capital allowances	(329,059 )	(208,437 )
Revenue exempt from taxation	(595 )	(700 )
Deferred tax from unrecognised tax loss or credit	156,237	44,499
Current tax from unrecognised timing difference from a prior period	-	(10,429 )

Total tax charge for the period	517,270	279,491

13. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
Cost
As at 1 December 2024	3,155,022	9,706,323	418,588	344,553	13,624,486
Additions	413,690	1,149,044	270,383	4,095	1,837,212
Disposals	-	-	(41,667 )	-	(41,667 )

As at 30 November 2025	3,568,712	10,855,367	647,304	348,648	15,420,031

Depreciation
As at 1 December 2024	765,537	6,143,887	322,239	332,275	7,563,938
Provided during the period	103,410	594,919	50,297	4,145	752,771
Disposals	-	-	(33,977 )	-	(33,977 )

As at 30 November 2025	868,947	6,738,806	338,559	336,420	8,282,732

Net Book Value
As at 30 November 2025	2,699,765	4,116,561	308,745	12,228	7,137,299

As at 1 December 2024	2,389,485	3,562,436	96,349	12,278	6,060,548

14. Stocks

	2025	2024
	£	£
Materials	260,977	737,379
Finished goods	903,250	982,091
Work in progress	17,189	-

	1,181,416	1,719,470

15. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	4,521,666	4,582,901
Prepayments and accrued income	12,108	11,703
Other debtors	2,095,509	355,898

	6,629,283	4,950,502

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Cirrus Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

16. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	834,417	786,052
Corporation tax	361,033	245,421
Other taxes and social security	83,375	72,406
VAT	134,286	82,040
Accruals and deferred income	1,838,055	1,560,348
Other grants	13,493	15,874
Directors' loan accounts	500,500	500,500

	3,765,159	3,262,641

17. Deferred Taxation

The provision for deferred tax is made up as follows:

	2025	2024
	£	£
Other timing differences	907,695	751,458

18. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 December 2024	751,458	751,458
Deferred taxation	156,237	156,237

Balance at 30 November 2025	907,695	907,695

19. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
75,000 Ordinary Shares of £ 1.00 each	75,000	75,000

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