ACCOUNTS - Final Accounts preparation

Operating profit

The operating profit is stated after charging:

Registered number: NI010993

CRILCO CONFECTIONS LTD

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

CRILCO CONFECTIONS LIMITED

COMPANY INFORMATION

Directors	Mr David Crilly
	Mr Ciaran Crilly


Company secretary	Mr David Crilly


Registered number	NI010993


Registered office	15 Flagstaff Road
	Newry
	Co. Down
	BT35 8NR


Independent auditors	AAB Group Accountants Limited
	Dromalane Mill
	The Quays
	Newry
	Co. Down
	BT35 8QS


Bankers	Bank of Ireland
	12 Trevor Hill
	Newry
	Co. Down
	BT34 IDN


	Bank of Ireland
	87-81 Clanbrassil Street
	Dundalk
	Co. Louth


Solicitors	Luke Curran & Co. Solicitors
	39 Hill Street
	Newry
	Co. Down
	BT34 1AF

CRILCO CONFECTIONS LIMITED

CONTENTS

	Page
Strategic report	1 - 3
Directors' report	4 - 5
Independent auditors' report	6 - 8
Statement of comprehensive income	9
Balance sheet	10
Statement of changes in equity	11
Statement of cash flows	12
Notes to the financial statements	13 - 28

CRILCO CONFECTIONS LIMITED

STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2025

Introduction

The directors present their strategic report for the year ended 31 December 2025.

Business review

The principal activity of the company continued to be that of the manufacture and sale of confectionery.

There has been no significant change in these activities during the year ended 31 December 2025.

Turnover for the company has decreased by 15.0% to £9.8m in the year ended 31 December 2025 relative to turnover of £11.5m achieved in the prior year. The company's gross profit margin increased from 42.9% to 57.0%. This is primarily due to a change in sales mix during the year.

Overall the company made a profit before tax of £3.0m (2024: £1.9m).

Page 1

CRILCO CONFECTIONS LIMITED

STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

Principal risks and uncertainties

The core risks associated with the company are currency risk, finance and interest rate risk, liquidity and cash flow risk, credit risk and the cost of living crisis, Ukraine war and inflation risk. The board reviews and agrees policies for the prudent management of these risks as follows:

Currency Risk
The company's activities are conducted in the UK and Republic Of Ireland (RoI). The company's activities which are in the ROI are conducted primarily in Euros. This results in levels of currency transaction risk, variances affecting operational activities in this regard are reflected in the profit and loss account in the years in which they arise.

Finance and Interest rate risk
The company's objective in relation to interest rate management is to minimise the impact of interest rate volatility on interest costs in order to protect recorded profitability. A long term strategy for the management of the exposure considers the amount of floating rate debt that is anticipated over the period and the sensitivity of the interest charge on this debt to changes in interest rates, and the resultant impact on reported profitability.

Liquidity and cash flow risk
The company's policy is to ensure that sufficient resources are available either from cash balances, cash flows and near cash liquid investments to ensure all obligations can be met when they fall due.

Credit Risk
The company has no significant concentrations of credit risk . Customers who wish to trade on credit terms are subject to strict verification procedures in advance of credit being awarded and are continually being monitored.

Cost of living crisis, Ukraine war and inflation
Similar to other companies operating in Northern Ireland, the company faces uncertainty in relation to the effects of the Ukraine war, cost of living and inflation. The directors monitor developments in this area and plan accordingly. The directors are doing all they can to ensure pricing is updated to reflect the ever changing prices. Furthermore, the directors will continue to monitor costs to ensure inflationary price increases are mitigated where possible.

Page 2

CRILCO CONFECTIONS LIMITED

STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

Financial key performance indicators

The company's key performance indicators are as follows:
     2025       2024     2023
Turnover   9,760,524 11.481,181 13,113,232
Gross Margin %     57.0% 42.9% 31.6%
Shareholders Equity     6,293,856 5,976,363 4,643,881

This report was approved by the board on 28 August 2026 and signed on its behalf.

Mr David Crilly

Director

Page 3

CRILCO CONFECTIONS LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2025

The directors present their report and the financial statements for the year ended 31 December 2025.

Directors' responsibilities statement

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 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 of the profit or loss of the Company for that period.

In preparing these financial statements, the directors are required to:

∙select suitable accounting policies for the Company's financial statements and then apply them consistently;

∙make judgements 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 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 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The profit for the year, after taxation, amounted to £2,299,330 (2024 - £1,332,482).

Ordinary dividends were paid amounting to £1,981,837. The directors do not recommend the payment of a final dividend.

Directors

The directors who served during the year were:

Mr David Crilly

Mr Ciaran Crilly

Future developments

The company plans to continue its present activities and current trading levels. Employees are kept as fully
informed as practical about any developments within the business.

Disclosure of information to auditors

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's auditors are 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's auditors are aware of that information.

Page 4

CRILCO CONFECTIONS LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

Post balance sheet events

There have been no significant events affecting the Company since the year end.

Auditors

The auditors, AAB Group Accountants Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 28 August 2026 and signed on its behalf.

Mr David Crilly

Director

Page 5

CRILCO CONFECTIONS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CRILCO CONFECTIONS LIMITED

Opinion

We have audited the financial statements of Crilco Confections Limited (the 'Company') for the year ended 31 December 2025, which comprise the Statement of comprehensive income, the Balance sheet, the Statement of cash flows, the 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 Company's affairs as at 31 December 2025 and of its 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 Auditors' 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 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 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.

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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.

Page 6

CRILCO CONFECTIONS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CRILCO CONFECTIONS LIMITED (CONTINUED)

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 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 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 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 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.

Responsibilities of directors

As explained more fully in the Directors' responsibilities statement set out on page 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.

Page 7

CRILCO CONFECTIONS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CRILCO CONFECTIONS LIMITED (CONTINUED)

Auditors' 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 Auditors' 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, 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:

Our procedures to respond to those risks identified included, but were not limited to:
Enquiry of management, those charged with governance and the entity’s solicitors around actual and potential
litigation and claims.
• Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and
regulations.
• Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with
applicable laws and regulations.
• Auditing the risk of management override of controls, including through testing journal entries and other
adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the
normal course of business.

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 Auditors' report.

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 Auditors' 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.

Teresa Campbell (Senior statutory auditor)

for and on behalf of

AAB Group Accountants Limited

Statutory Auditors

Dromalane Mill

The Quays

Newry

Co. Down

BT35 8QS

28 August 2026

Page 8

CRILCO CONFECTIONS LIMITED

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 DECEMBER 2025

	2025	2024
Note	£	£


Turnover	4	9,760,524	11,481,181
Cost of sales		(4,195,343)	(6,556,510)
Gross profit		5,565,181	4,924,671
Distribution costs		(198,454)	(238,828)
Administrative expenses		(2,950,657)	(3,605,536)
Other operating income	5	517,835	850,191
Operating profit	6	2,933,905	1,930,498
Interest receivable and similar income	10	65,603	48,008
Interest payable and similar expenses	11	(8,440)	(30,193)
Profit before tax		2,991,068	1,948,313
Tax on profit	12	(691,738)	(615,831)
Profit for the financial year		2,299,330	1,332,482

Other comprehensive income for the year
Total comprehensive income for the year		2,299,330	1,332,482

The notes on pages 13 to 28 form part of these financial statements.

Page 9

CRILCO CONFECTIONS LIMITED

REGISTERED NUMBER: NI010993

BALANCE SHEET

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	14		2,938,903		3,867,365
			2,938,903		3,867,365
Current assets
Stocks	15	655,700		694,658
Debtors: amounts falling due within one year	16	2,777,157		2,047,178
Cash at bank and in hand	17	3,858,315		3,429,354
		7,291,172		6,171,190
Creditors: amounts falling due within one year	18	(2,369,557)		(2,234,987)
Net current assets			4,921,615		3,936,203
Total assets less current liabilities			7,860,518		7,803,568
Creditors: amounts falling due after more than one year	19		(713,054)		(1,063,891)
Provisions for liabilities
Deferred tax	21	(853,608)		(763,314)
			(853,608)		(763,314)
Net assets			6,293,856		5,976,363

Capital and reserves
Called up share capital	22	10,050	10,050
Capital redemption reserve		9,950	9,950
Profit and loss account		6,273,856	5,956,363
		6,293,856	5,976,363

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 August 2026.

Mr David Crilly	Mr Ciaran Crilly
Director	Director

The notes on pages 13 to 28 form part of these financial statements.

Page 10

CRILCO CONFECTIONS LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2025

	Called up share capital	Capital redemption reserve	Profit and loss account	Total equity
	£	£	£	£
At 1 January 2024	10,050	9,950	4,623,881	4,643,881

Profit for the year	-	-	1,332,482	1,332,482

At 1 January 2025	10,050	9,950	5,956,363	5,976,363

Profit for the year	-	-	2,299,330	2,299,330
Dividends: Equity capital	-	-	(1,981,837)	(1,981,837)
At 31 December 2025	10,050	9,950	6,273,856	6,293,856

The notes on pages 13 to 28 form part of these financial statements.

Page 11

CRILCO CONFECTIONS LIMITED

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2025

			2025	2024
			£	£

Cash flows from operating activities
Profit for the financial year	2,299,330	1,332,482
Adjustments for:
Depreciation of tangible assets	867,112	766,097
Loss on disposal of tangible assets	(686,249)	(14,000)
Government grants	(81,627)	(11,977)
Interest paid	8,440	22,962
Interest received	(65,603)	(48,008)
Taxation charge	691,738	615,831
Decrease/(increase) in stocks	38,958	(288,808)
(Increase)/decrease in debtors	(729,979)	779,263
(Decrease)/increase in creditors	(393,677)	1,180,647
Corporation tax (paid)	(419,175)	(300,711)
Net cash generated from operating activities	1,529,268	4,033,778

Cash flows from investing activities
Purchase of tangible fixed assets	(893,401)	(1,355,071)
Sale of tangible fixed assets	1,641,000	14,000
Government grants received	81,627	47,909
Interest received	65,603	48,008
Net cash from investing activities	894,829	(1,245,154)
Cash flows from financing activities
Repayment of loans	-	(590,047)
Repayment of/new finance leases	(4,859)	(8,430)
Dividends paid	(1,981,837)	-
Interest paid	(4,343)	(22,962)
HP interest paid	(4,097)	(7,231)
Net cash used in financing activities	(1,995,136)	(628,670)
Net increase in cash and cash equivalents	428,961	2,159,954
Cash and cash equivalents at beginning of year	3,429,354	1,269,400
Cash and cash equivalents at the end of year	3,858,315	3,429,354

Cash and cash equivalents at the end of year comprise:
Cash at bank and in hand	3,858,315	3,429,354
	3,858,315	3,429,354

Page 12

CRILCO CONFECTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	General information

Crilco Confections Limited is a private company limited by shares incorporated in Northern Ireland. The registered office is 15 Flagstaff Road, Newry, Co. Down, Northern Ireland, BT35 8NR.

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 management to exercise judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP, rounded to the nearest £..

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.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 13

CRILCO CONFECTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company 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 Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company 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 Company 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.

2.5

Rental Income

Rental income is recognised for the period to which it relates to. Any rentals invoiced in advance are deferred accordingly over the year end.

2.6

Insurance Income

Insurance income is recognised when it is probable that the economic benefits associated with the transaction will flow to the Company and the amount of the income can be measured reliably.

Insurance income includes receipts from insurance claims related to loss of or damage to Company assets, business interruption, or other insured events. Such income is recognised in the profit and loss account when the following conditions are met:

∙The event giving rise to the claim has occurred;

∙The amount of the claim can be measured reliably;

∙Recovery under the policy is virtually certain (i.e. the insurer has accepted liability or there is sufficient evidence to support recoverability); and

∙Any contingencies related to the income (such as repair or replacement of assets) are appropriately reflected.

Insurance proceeds relating to loss of or damage to fixed assets are presented as other operating income unless the amounts are directly offset against the cost of replacement assets. Where insurance proceeds relate to lost revenue (e.g. business interruption), these are also classified as other operating income.

Where insurance claims remain outstanding at the balance sheet date, a receivable is recognised only to the extent that recovery is considered virtually certain.

Page 14

CRILCO CONFECTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.7

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.8

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

2.9

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.10

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.

2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company 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 Company in independently administered funds.

Page 15

CRILCO CONFECTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.12

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 operates and generates income.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing differences arises goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charges or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilties and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2.13

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

2.14

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 16

CRILCO CONFECTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.14

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property	-	2%	Straight line
Plant and machinery	-	15%	Straight line
Motor vehicles	-	25%	Straight line
Fixtures and fittings	-	25%	Straight line

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.

2.15

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.

2.16

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.

2.17

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 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 Company's cash management.

2.18

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 17

CRILCO CONFECTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.19

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.

Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.

Increases in provisions are generally charged as an expense to profit or loss.

2.20

Financial instruments

The Company 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 Company's Balance sheet when the Company 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 Company'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 impairment loss will be the difference between the current carrying amount and the present value of

Page 18

CRILCO CONFECTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.20

Financial instruments (continued)

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 Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans 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.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 19

CRILCO CONFECTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.20

Financial instruments (continued)

2.21

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.	Judgements in applying accounting policies and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The following judgements have had the most significant effect on amounts recognised in the financial statements:

Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

Inventory Provision

The company considers the recoverability of the cost of the inventory and the associated provisioning required. When calculating the inventory provision, management considers the nature and condition of the inventory, as well as applying assumptions around anticipated saleability of finished goods and future usage of raw materials.

Turnover

An analysis of the company's turnover by class of business and geographical market is not given as, in the opinion of the directors, this would be seriously prejudicial to the company's interest.

Page 20

CRILCO CONFECTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

5.	Other operating income
		2025	2024
		£	£

Net rents receivable	102,208	56,000
Government grants receivable	81,627	11,977
Insurance claims receivable	334,000	782,214
	517,835	850,191

Government grant amortisation	(11,977)	(11,977)
Exchange differences	(44,594)	62,246
Depreciation on owned assets	848,225	708,200
Depreciation on leased assets	18,887	18,888

Fees payable to the Company's auditors for the audit of the Company's financial statements

8,950

8,500

Page 21

CRILCO CONFECTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

8.	Employees
		2025	2024
		£	£

Wages and salaries	1,343,868	1,108,504
Social security costs	151,588	149,985
Cost of defined contribution scheme	162,629	12,245
	1,658,085	1,270,734

The average monthly number of employees, including the directors, during the year was as follows:

	2025	2024
	No.	No.

Total	42	38

9.	Directors' remuneration
		2025	2024
		£	£

Directors' emoluments	125,500	25,500
Company contributions to defined contribution pension schemes	150,000	-
	275,500	25,500

During the year retirement benefits were accruing to no directors (2024 - NIL) in respect of defined contribution pension schemes.

10.	Interest receivable
		2025	2024
		£	£

	Bank interest receivable	65,603	48,008
		65,603	48,008

11.	Interest payable and similar expenses
		2025	2024
		£	£

Bank interest payable	4,343	22,962
Finance leases and hire purchase contracts	4,097	7,231
	8,440	30,193

Page 22

CRILCO CONFECTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Corporation tax
Current tax on profits for the year	606,892	427,827
Adjustments in respect of previous periods	(5,448)	-
	601,444	427,827

Total current tax	601,444	427,827

Deferred tax
Origination and reversal of timing differences	90,294	188,004
Total deferred tax	90,294	188,004


		691,738	615,831

Profit on ordinary activities before tax

2,991,068

1,948,313

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)	747,767	487,078
Effects of:
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	(56,029)	128,753
Total tax charge for the year	691,738	615,831

Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 23

CRILCO CONFECTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

13.	Dividends
		2025	2024
		£	£

	Dividends	1,981,837	-
		1,981,837	-

14.	Tangible fixed assets

	Freehold property	Plant and machinery	Motor vehicles	Fixtures and fittings	Total
	£	£	£	£	£
Cost or valuation
At 1 January 2025	1,116,287	4,456,684	329,370	892,366	6,794,707
Additions	121,822	695,859	-	75,720	893,401
Disposals	(1,238,109)	-	-	-	(1,238,109)
At 31 December 2025	-	5,152,543	329,370	968,086	6,449,999
Depreciation
At 1 January 2025	261,132	1,976,966	285,335	403,909	2,927,342
Charge for the year on owned assets	22,226	610,406	30,336	204,144	867,112
Disposals	(283,358)	-	-	-	(283,358)
At 31 December 2025	-	2,587,372	315,671	608,053	3,511,096
Net book value
At 31 December 2025	-	2,565,171	13,699	360,033	2,938,903
At 31 December 2024	855,155	2,479,718	44,035	488,457	3,867,365

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
	2025	2024
	£	£


Motor vehicles	-	22,035
	-	22,035

Page 24

CRILCO CONFECTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

15.	Stocks
		2025	2024
		£	£

Finished goods and goods for resale	655,700	694,658
	655,700	694,658

The replacement cost of stock did not differ significantly from the figures shown.

16.

Debtors

					2025	2024
					£	£


Trade debtors	977,894	1,325,173
Other debtors	1,763,969	505,092
Prepayments and accrued income	35,294	216,913
	2,777,157	2,047,178

All trade debtors are due within one year.

All trade debtors are due within the company's normal terms.

Trade debtors are stated after provisions for impairment of £7,433 (2024 : £7,433).

Included in other debtors above are amounts owed by related parties, which are related by common control, of £1,763,969 (2024: £233,495). These balances are interest free and are repayable on demand.

17.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	3,858,315	3,429,354
	3,858,315	3,429,354

Page 25

CRILCO CONFECTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

18.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	767,199	1,153,255
Corporation tax	606,890	424,621
Other taxation and social security	292,370	237,185
Obligations under finance lease and hire purchase contracts	8,955	8,955
Other creditors	11,070	9,011
Accruals and deferred income	683,073	401,960
	2,369,557	2,234,987

The repayment of trade creditors vary between on demand and ninety days. No interest is payable on trade creditors.

19.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Net obligations under finance leases and hire purchase contracts	33,077	37,936
Accruals and deferred income	679,977	1,025,955
	713,054	1,063,891

Within one year	8,955	8,955
Between 1-5 years	33,077	37,936
	42,032	46,891

Page 26

CRILCO CONFECTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

21.	Deferred taxation

		2025
		£

	At beginning of year	(763,314)
	Charged to profit or loss	(90,294)
	At end of year	(853,608)

The provision for deferred taxation is made up as follows:
	2025	2024
	£	£

	Accelerated capital allowances	(853,608)	(763,314)
		(853,608)	(763,314)

22.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

10,050 (2024 - 10,050) Ordinary shares of £1.00 each	10,050	10,050

23.	Auditor's liability limitation agreement

The directors, on behalf of the company, have entered into a Limited Liability Agreement with their auditors. The auditor's liability is limited to an amount which is considered fair and reasonable. This has been disclosed in line with company's legislation.

24.	Contingent liabilities

There is a contingent liability to repay any grants received by the company if the company breaches certain conditions of the letter of offer. At the year end, the Directors do not anticipate any loss.

25.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. Contributions totalling £1,536 (2024: £735) were payable to the fund at the balance sheet date and are included in creditors.

Page 27

CRILCO CONFECTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

26.

Related party transactions

Included within other debtors are amounts of £1,763,969 (2024: £233,495) owing from related parties.

They are deemed related as they have common ownership and control.

Transactions with Directors

Key management includes the Board of Directors (executive and non-executive), all members of the company management and company secretary. There was no compensation paid or payable for key management services other than the directors remuneration.

As at 31 December 2025 the following amount was repayable from the directors:

Included within other debtors are amounts of £501,883 (2024: £248,626) owing from the directors. These amounts are interest free and are repayable on demand.

27.	Parent Company

The 100% immediate parent company of Crilco Confections Limited is Brogies Ltd, a company incorporated in Northern Ireland. The smallest and largest group of which the company is a member is Brogies Ltd. Group financial statements are available and are available to the public.

28.	Controlling party

The controlling parties are deemed to be David Crilly and Ciaran Crilly by virtue of their shareholding in Brogies Ltd.

Page 28