diff --git a/app/serializers/api/admin/order_cycle_serializer.rb b/app/serializers/api/admin/order_cycle_serializer.rb
index a782c26048..bd8c6407f1 100644
--- a/app/serializers/api/admin/order_cycle_serializer.rb
+++ b/app/serializers/api/admin/order_cycle_serializer.rb
@@ -25,10 +25,7 @@ class Api::Admin::OrderCycleSerializer < ActiveModel::Serializer
   end
 
   def exchanges
-    scoped_exchanges =
-      OpenFoodNetwork::OrderCyclePermissions.
-        new(options[:current_user], object).
-        visible_exchanges.by_enterprise_name
+    scoped_exchanges = permissions.visible_exchanges.by_enterprise_name
 
     ActiveModel::ArraySerializer.
       new(scoped_exchanges, each_serializer: Api::Admin::ExchangeSerializer,
@@ -39,9 +36,7 @@ class Api::Admin::OrderCycleSerializer < ActiveModel::Serializer
     # For each enterprise that the current user is able to see in this order cycle,
     # work out which variants should be editable within incoming exchanges from that enterprise
     editable = {}
-    permissions = OpenFoodNetwork::OrderCyclePermissions.new(options[:current_user], object)
-    enterprises = permissions.visible_enterprises
-    enterprises.each do |enterprise|
+    visible_enterprises.each do |enterprise|
       variants = permissions.editable_variants_for_incoming_exchanges_from(enterprise).pluck(:id)
       editable[enterprise.id] = variants if variants.any?
     end
@@ -52,9 +47,7 @@ class Api::Admin::OrderCycleSerializer < ActiveModel::Serializer
     # For each enterprise that the current user is able to see in this order cycle,
     # work out which variants should be editable within incoming exchanges from that enterprise
     editable = {}
-    permissions = OpenFoodNetwork::OrderCyclePermissions.new(options[:current_user], object)
-    enterprises = permissions.visible_enterprises
-    enterprises.each do |enterprise|
+    visible_enterprises.each do |enterprise|
       variants = permissions.editable_variants_for_outgoing_exchanges_to(enterprise).pluck(:id)
       editable[enterprise.id] = variants if variants.any?
     end
@@ -65,9 +58,7 @@ class Api::Admin::OrderCycleSerializer < ActiveModel::Serializer
     # For each enterprise that the current user is able to see in this order cycle,
     # work out which variants should be visible within outgoing exchanges from that enterprise
     visible = {}
-    permissions = OpenFoodNetwork::OrderCyclePermissions.new(options[:current_user], object)
-    enterprises = permissions.visible_enterprises
-    enterprises.each do |enterprise|
+    visible_enterprises.each do |enterprise|
       # This is hopefully a temporary measure, pending the arrival of multiple named inventories
       # for shops. We need this here to allow hubs to restrict visible variants to only those in
       # their inventory if they so choose
@@ -84,4 +75,14 @@ class Api::Admin::OrderCycleSerializer < ActiveModel::Serializer
     end
     visible
   end
+
+  private
+
+  def permissions
+    @permissions ||= OpenFoodNetwork::OrderCyclePermissions.new(options[:current_user], object)
+  end
+
+  def visible_enterprises
+    @visible_enterprises ||= permissions.visible_enterprises
+  end
 end