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REGISTERED NUMBER: 09194022 (England and Wales)















GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

BLUE DIAMOND PUMPS LTD

BLUE DIAMOND PUMPS LTD (REGISTERED NUMBER: 09194022)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Consolidated Statement of Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 17


BLUE DIAMOND PUMPS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: W E Shepherd
Mrs P Shepherd
F W Shepherd





SECRETARY: Mrs P Shepherd





REGISTERED OFFICE: 100 Royston Road
Byfleet
West Byfleet
Surrey
KT14 7NY





REGISTERED NUMBER: 09194022 (England and Wales)





AUDITORS: Jamesons Limited
Chartered Accountants and Statutory Auditors
Jamesons House
Compton Way
Witney
OX28 3AB

BLUE DIAMOND PUMPS LTD (REGISTERED NUMBER: 09194022)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2024

The directors present their strategic report of the company and the group for the year ended 30 April 2024.

REVIEW OF BUSINESS
The Group is engaged in the development, manufacture and distribution of vacuum pumps and compressors worldwide and can provide both off the shelf units and adapted units designed by the inhouse Research and Development team.

There have been no changes in the Group's activities in the year under review. The directors are not aware, at the date of this report, of any likely major changes in the Group's activities in the next year.

The Group has maintained a healthy level of sales as a result of the continued investment in new product development and exploiting commercial opportunities created by its new inventions in pump technology.

It is felt that this is a satisfactory result as the Group continues to grow and become stronger in both profitability and asset value.

PRINCIPAL RISKS AND UNCERTAINTIES
The principal risk and uncertainties facing the Group are :

Competitive risks
The Group is subject to competitive risks. The Group's strength is managing these risks to diversify its sales into new geographical markets, to closely monitor major competitors within the markets that it trades in and to seek competitive advantage from continuous innovation and product development within the sector.

Political and legislative risk
The Group is subject to political and legislative risks. The Group's strength in managing these risks is demonstrated by its ability to successfully diversify sales into new markets. This diversification mitigates the risk to the Group of any change in legislation for any single market or political uncertainty.

Credit risk
This principally relates to trade receivables which are short-term and without undue concentration. They are subject to a strong credit control process in order to mitigate credit risk.

Conflict in Ukraine
It is expected that the conflict in Ukraine, which commenced in February 2022, will not have an impact on the Group's financial results. Sales to Ukraine, Belarus and Russia represent less than 0.0% (2023: 0.0%) of the Group's revenue.

Inflationary pressures
The directors continue to monitor closely the impact of the current inflationary pressures in the economy and have taken steps to mitigate the main pressures arising.


BLUE DIAMOND PUMPS LTD (REGISTERED NUMBER: 09194022)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2024

KEY PERFORMANCE INDICATORS
During the year, the Group's key financial and other performance indicators were as follows:


2024 2023 Change
£    £    %
Turnover 20,328 24,158 -15.85
Operating profit 5,291 2,862 84.87
EBITDA 5,884 3,433 71.39
Cash 17,304 12,058 43.51
Net Assets 20,416 15,459 32.06
Average number of employees 95 97 -2.06


The Group had another strong year of sales and profit growth. Despite continued downward market price pressures, gross profit margins remained stable at 56.46% (2023: 43.27%) due mainly to lean manufacturing methods, better stock control and a well-balanced sales mix.

STRATEGY
The Group continues to re-invest all profits into improving its' business, increasing production efficiency, financing continued Research and Development into new products and pumping technologies and investing into Patents to protect its' Intellectual Property.

ON BEHALF OF THE BOARD:





W E Shepherd - Director


31 January 2025

BLUE DIAMOND PUMPS LTD (REGISTERED NUMBER: 09194022)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 APRIL 2024

The directors present their report with the financial statements of the company and the group for the year ended 30 April 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of manufacture of pumps and compressors.

DIVIDENDS
No dividends will be distributed for the year ended 30 April 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 May 2023 to the date of this report.

W E Shepherd
Mrs P Shepherd
F W Shepherd

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors 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 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 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 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

BLUE DIAMOND PUMPS LTD (REGISTERED NUMBER: 09194022)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 APRIL 2024


AUDITORS
The auditors, Jamesons Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:




W E Shepherd - Director


31 January 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BLUE DIAMOND PUMPS LTD

Opinion
We have audited the financial statements of Blue Diamond Pumps Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 April 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, 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 affairs as at 30 April 2024 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 Auditors' 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 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 group's and 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.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BLUE DIAMOND PUMPS LTD


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 Report of the Directors.

We have nothing to report in respect of the following matters where 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.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, 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 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BLUE DIAMOND PUMPS LTD


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 a Report of the Auditors 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.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non - compliance with laws and regulations was as follows:
" The engagement partner ensured that the engagement team collectively had appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations:
" We identified the laws and regulations applicable to the company through discussion with directors and informed management and from our commercial knowledge and experience of the industry;
" We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company including Companies Act 2006, taxation legislation, employment legislation and health and safety legislation;
" We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and reviewing documentation during the audit; and
" Identified laws and regulations were communicated within the audit team and the team remained alert to instances of non-compliance during the audit.
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by;
" Making enquires of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
" Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
" Reviewed the financial statements and records to identify any unusual or unexpected relationships;
" Tested journal entries to identify unusual transactions;
" Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
" Investigated the rationale behind any significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
" Agreeing financial statement disclosures to underlying supporting documentation;
enquiring of management as to actual and potential litigation and claims; and
" Reviewing correspondence with HMRC and other applicable sources.
There are inherent limitations in our audit procedures described above. The 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. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquire of the directors and informed management and the inspection of regulatory and legal correspondence if any.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation and there is therefore 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.

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 Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BLUE DIAMOND PUMPS LTD


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 a Report of the Auditors 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.




Anita Lyon FCA FCCA (Senior Statutory Auditor)
for and on behalf of Jamesons Limited
Chartered Accountants and Statutory Auditors
Jamesons House
Compton Way
Witney
OX28 3AB

31 January 2025

BLUE DIAMOND PUMPS LTD (REGISTERED NUMBER: 09194022)

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 APRIL 2024

2024 2023
Notes £    £   

TURNOVER 3 20,328,035 24,158,045

Cost of sales 8,850,112 13,703,826
GROSS PROFIT 11,477,923 10,454,219

Administrative expenses 6,860,054 8,569,573
4,617,869 1,884,646

Other operating income 673,120 976,613
OPERATING PROFIT 5 5,290,989 2,861,259

Interest receivable and similar income 586,625 223,906
5,877,614 3,085,165

Interest payable and similar expenses 6 15,696 16,534
PROFIT BEFORE TAXATION 5,861,918 3,068,631

Tax on profit 7 905,250 231,531
PROFIT FOR THE FINANCIAL YEAR 4,956,668 2,837,100

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 4,956,668 2,837,100

Profit attributable to:
Owners of the parent 3,974,300 2,274,115
Non-controlling interests 982,368 562,985
4,956,668 2,837,100

Total comprehensive income attributable to:
Owners of the parent 3,974,300 2,274,115
Non-controlling interests 982,368 562,985
4,956,668 2,837,100

BLUE DIAMOND PUMPS LTD (REGISTERED NUMBER: 09194022)

CONSOLIDATED BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 576,149 770,968
Tangible assets 10 2,398,008 2,343,773
Investments 11 10,050 10,050
2,984,207 3,124,791

CURRENT ASSETS
Stocks 12 3,396,712 3,948,200
Debtors 13 5,527,486 5,542,681
Cash at bank and in hand 17,304,062 12,058,001
26,228,260 21,548,882
CREDITORS
Amounts falling due within one year 14 8,547,367 9,001,752
NET CURRENT ASSETS 17,680,893 12,547,130
TOTAL ASSETS LESS CURRENT LIABILITIES 20,665,100 15,671,921

PROVISIONS FOR LIABILITIES 15 249,045 212,534
NET ASSETS 20,416,055 15,459,387

CAPITAL AND RESERVES
Called up share capital 16 1,276 1,276
Share premium 17 3,258,381 3,258,381
Other reserves 17 447,233 447,233
Share options reserve 17 2,180,572 2,180,572
Retained earnings 17 9,277,670 5,303,370
SHAREHOLDERS' FUNDS 15,165,132 11,190,832

NON-CONTROLLING INTERESTS 5,250,923 4,268,555
TOTAL EQUITY 20,416,055 15,459,387

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2025 and were signed on its behalf by:





W E Shepherd - Director


BLUE DIAMOND PUMPS LTD (REGISTERED NUMBER: 09194022)

COMPANY BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 - -
Investments 11 10,944,447 10,944,447
10,944,447 10,944,447

CURRENT ASSETS
Cash at bank 9,990 3,430

CREDITORS
Amounts falling due within one year 14 4,799,965 4,856,133
NET CURRENT LIABILITIES (4,789,975 ) (4,852,703 )
TOTAL ASSETS LESS CURRENT LIABILITIES 6,154,472 6,091,744

CAPITAL AND RESERVES
Called up share capital 16 1,276 1,276
Share premium 17 3,258,381 3,258,381
Other reserves 17 447,233 447,233
Share options reserve 17 2,180,572 2,180,572
Retained earnings 17 267,010 204,282
SHAREHOLDERS' FUNDS 6,154,472 6,091,744

Company's profit for the financial year 62,728 67,436

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2025 and were signed on its behalf by:





W E Shepherd - Director


BLUE DIAMOND PUMPS LTD (REGISTERED NUMBER: 09194022)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024

Called up
share Retained Share Other
capital earnings premium reserves
£    £    £    £   
Balance at 1 May 2022 1,206 3,029,255 3,258,381 447,233

Changes in equity
Issue of share capital 70 - - -
Total comprehensive income - 2,274,115 - -
Balance at 30 April 2023 1,276 5,303,370 3,258,381 447,233

Changes in equity
Total comprehensive income - 3,974,300 - -
Balance at 30 April 2024 1,276 9,277,670 3,258,381 447,233
Share
options Non-controlling Total
reserve Total interests equity
£    £    £    £   
Balance at 1 May 2022 - 6,736,075 3,705,570 10,441,645

Changes in equity
Issue of share capital - 70 - 70
Total comprehensive income - 2,274,115 562,985 2,837,100
Share options issued 2,180,572 2,180,572 - 2,180,572
Balance at 30 April 2023 2,180,572 11,190,832 4,268,555 15,459,387

Changes in equity
Total comprehensive income - 3,974,300 982,368 4,956,668
Balance at 30 April 2024 2,180,572 15,165,132 5,250,923 20,416,055

BLUE DIAMOND PUMPS LTD (REGISTERED NUMBER: 09194022)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024

Called up
share Retained Share
capital earnings premium
£    £    £   
Balance at 1 May 2022 1,206 136,846 3,258,381

Changes in equity
Issue of share capital 70 - -
Total comprehensive income - 67,436 -
Balance at 30 April 2023 1,276 204,282 3,258,381

Changes in equity
Total comprehensive income - 62,728 -
Balance at 30 April 2024 1,276 267,010 3,258,381
Share
Other options Total
reserves reserve equity
£    £    £   
Balance at 1 May 2022 447,233 - 3,843,666

Changes in equity
Issue of share capital - - 70
Total comprehensive income - - 67,436
Share options issued - 2,180,572 2,180,572
Balance at 30 April 2023 447,233 2,180,572 6,091,744

Changes in equity
Total comprehensive income - - 62,728
Balance at 30 April 2024 447,233 2,180,572 6,154,472

BLUE DIAMOND PUMPS LTD (REGISTERED NUMBER: 09194022)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 APRIL 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 6,316,274 1,152,850
Interest paid (15,696 ) (16,534 )
Tax paid (647,997 ) (538,984 )
Net cash from operating activities 5,652,581 597,332

Cash flows from investing activities
Purchase of intangible fixed assets - (200 )
Purchase of tangible fixed assets (483,182 ) (233,784 )
Sale of tangible fixed assets 29,854 8,544
Interest received 586,625 223,906
Net cash from investing activities 133,297 (1,534 )

Cash flows from financing activities
Amount withdrawn by directors (539,817 ) (4,183,580 )
Share issue - 70
EMI options exercised - 2,180,572
Net cash from financing activities (539,817 ) (2,002,938 )

Increase/(decrease) in cash and cash equivalents 5,246,061 (1,407,140 )
Cash and cash equivalents at beginning of year 2 12,058,001 13,465,141

Cash and cash equivalents at end of year 2 17,304,062 12,058,001

BLUE DIAMOND PUMPS LTD (REGISTERED NUMBER: 09194022)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 APRIL 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024 2023
£    £   
Profit before taxation 5,861,918 3,068,631
Depreciation charges 600,479 575,950
Profit on disposal of fixed assets (7,920 ) (3,899 )
Finance costs 15,696 16,534
Finance income (586,625 ) (223,906 )
5,883,548 3,433,310
Decrease/(increase) in stocks 551,488 (825,848 )
Decrease/(increase) in trade and other debtors 20,939 (2,880,530 )
(Decrease)/increase in trade and other creditors (139,701 ) 1,425,918
Cash generated from operations 6,316,274 1,152,850

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 April 2024
30.4.24 1.5.23
£    £   
Cash and cash equivalents 17,304,062 12,058,001
Year ended 30 April 2023
30.4.23 1.5.22
£    £   
Cash and cash equivalents 12,058,001 13,465,141


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.5.23 Cash flow At 30.4.24
£    £    £   
Net cash
Cash at bank and in hand 12,058,001 5,246,061 17,304,062
12,058,001 5,246,061 17,304,062
Total 12,058,001 5,246,061 17,304,062

BLUE DIAMOND PUMPS LTD (REGISTERED NUMBER: 09194022)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Blue Diamond Pumps Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the Financial Reporting Standard 102 " The Financial Reporting Standard applicable tin the UK and Republic of Ireland" and the Companies Act 2006.

The financial statements have been prepared under the historical cost convention.

The financial statements hae been prepared on a going concern basis. The Group's business activities, together with principal risks and uncertainties are set out in the Strategic Report and the Group has considered a period of at least 12 months from the date of approval of these financial statements.

Basis of consolidation
The group financial statements consolidate the financial statements of the company and it's subsidiary undertakings. Intra group sales, profits and balance sheet amounts are eliminated fully on consolidation.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. It is considered that there are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Warranty Provision
Historical warranty spend data is collated across all models and used to estimate future warranty spend based upon the balance of warranty period remaining.

BLUE DIAMOND PUMPS LTD (REGISTERED NUMBER: 09194022)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is stated net of VAT and any discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Goodwill represents the excess cost of acquisition over the fair value of the separable net assets of the businesses acquired.

Intangible assets
Patents and licences are being amortised evenly over their useful life ranging between 8, 10 and 25 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Short leasehold - 2% on cost
Plant and machinery - 10% on reducing balance, 10% on cost and at varying rates on cost
Motor vehicles - 25% on cost and 20% on reducing balance
Computer equipment - 25% on cost and 20% on cost

The tangible fixed assets are initially recognised and measured at cost and subsequently measured by annually reviewing their net book values.

Stocks
Stock is valued at the lower of cost and net realisable value. Cost is determine on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

Financial instruments

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less. For the purpose of the cash flow statement, cash and cash equivalents consist of cash and cash equivalents as defined above, net of outstanding bank overdrafts.

Short-term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other operating expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

BLUE DIAMOND PUMPS LTD (REGISTERED NUMBER: 09194022)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The Group operates three schemes as follows: a) Staff scheme whereby contributions are paid into a separate pension fund independent of the company. Contributions are charged to the profit and loss account when paid. b) Self administered scheme for existing full-time controlling directors with contributions being charged to the profit and loss account when paid. c) Group pensions paid to directors who have reached retirement age and funded out of the normal income of the company.

Employee benefit trusts
The Group has established a trust for the benefit of employees, former employees and certain of their dependents. Monies contributed to this trust are held by independent trustees and managed at their discretion. Subsequent to making a contribution to the trust the company neither has nor seeks to exercise any control over the trustees decisions in applying funds to benefit employees and consequently in the opinion of the directors the provisions of Urgent Issues Task Force Abstract 13 do not apply to it.

3. TURNOVER

The turnover and profit before tax are attributable to the one principal activity of the group.

An analysis by geographical market is not considered to be applicable for the years ended 30 April 2023 and 30 April 2024.

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 4,387,452 6,368,471
Social security costs 57,306 57,272
Other pension costs 222,055 203,904
4,666,813 6,629,647

BLUE DIAMOND PUMPS LTD (REGISTERED NUMBER: 09194022)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
2024 2023

Charles Austen Pumps Limited 67 69
Uniclip Limited 28 28
95 97

2024 2023
£    £   
Directors' remuneration 88,000 88,000

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Depreciation - owned assets 407,013 381,120
Profit on disposal of fixed assets (7,920 ) (3,899 )
Goodwill amortisation 194,191 194,191
Patents and licences amortisation 628 639
Auditors' remuneration 21,952 24,362
Auditors' remuneration for non audit work 11,055 12,651
Foreign exchange differences (597,303 ) (944,381 )

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Corporation tax interest 3,826 3,590
Loan interest 11,870 12,944
15,696 16,534

BLUE DIAMOND PUMPS LTD (REGISTERED NUMBER: 09194022)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 873,130 292,293
provision - (92,613 )
Total current tax 873,130 199,680

Deferred tax 32,120 31,851
Tax on profit 905,250 231,531

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 5,861,918 3,068,631
Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2023
- 19.493 %)

1,465,480

598,168

Effects of:
Expenses not deductible for tax purposes (246,769 ) (69,313 )
Capital allowances in excess of depreciation (19,128 ) -
Depreciation in excess of capital allowances - 19,860
Adjustments to tax charge in respect of previous periods - (92,613 )
R&D enhanced expenditure (375,000 ) (292,395 )
Deferred tax 32,119 31,851
Amortisation of goodwill 48,548 35,973

Total tax charge 905,250 231,531

8. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


BLUE DIAMOND PUMPS LTD (REGISTERED NUMBER: 09194022)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

9. INTANGIBLE FIXED ASSETS

Group
Patents
and
Goodwill licences Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 1,941,914 13,249 1,955,163
AMORTISATION
At 1 May 2023 1,175,255 8,940 1,184,195
Amortisation for year 194,191 628 194,819
At 30 April 2024 1,369,446 9,568 1,379,014
NET BOOK VALUE
At 30 April 2024 572,468 3,681 576,149
At 30 April 2023 766,659 4,309 770,968

10. TANGIBLE FIXED ASSETS

Group
Freehold Short Plant and
property leasehold machinery
£    £    £   
COST
At 1 May 2023 1,918,685 55,079 2,525,154
Additions - - 356,385
Disposals - - (90,355 )
At 30 April 2024 1,918,685 55,079 2,791,184
DEPRECIATION
At 1 May 2023 649,018 38,080 1,744,820
Charge for year 39,279 2,340 252,397
Eliminated on disposal - - (84,155 )
At 30 April 2024 688,297 40,420 1,913,062
NET BOOK VALUE
At 30 April 2024 1,230,388 14,659 878,122
At 30 April 2023 1,269,667 16,999 780,334

BLUE DIAMOND PUMPS LTD (REGISTERED NUMBER: 09194022)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

10. TANGIBLE FIXED ASSETS - continued

Group

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2023 167,413 330,738 455,563 5,452,632
Additions 6,845 106,632 13,320 483,182
Disposals - (56,314 ) (1,228 ) (147,897 )
At 30 April 2024 174,258 381,056 467,655 5,787,917
DEPRECIATION
At 1 May 2023 90,956 264,731 321,254 3,108,859
Charge for year 30,187 32,599 50,211 407,013
Eliminated on disposal - (40,580 ) (1,228 ) (125,963 )
At 30 April 2024 121,143 256,750 370,237 3,389,909
NET BOOK VALUE
At 30 April 2024 53,115 124,306 97,418 2,398,008
At 30 April 2023 76,457 66,007 134,309 2,343,773

11. FIXED ASSET INVESTMENTS

Group
Unlisted
investments
£   
COST
At 1 May 2023
and 30 April 2024 10,050
NET BOOK VALUE
At 30 April 2024 10,050
At 30 April 2023 10,050

BLUE DIAMOND PUMPS LTD (REGISTERED NUMBER: 09194022)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

11. FIXED ASSET INVESTMENTS - continued

Company
Unlisted
investments
£   
COST
At 1 May 2023
and 30 April 2024 10,944,447
NET BOOK VALUE
At 30 April 2024 10,944,447
At 30 April 2023 10,944,447

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Charles Austen Pumps Limited
Registered office: 100 Royston Road, Byfleet, KT14 7NY
Nature of business: Manufacture of pumps and compressors
%
Class of shares: holding
Ordinary 80.68
2024 2023
£    £   
Aggregate capital and reserves 22,736,497 17,637,507
Profit for the year 5,983,331 3,135,450

Uniclip Limited
Registered office: 100 Royston Road, Byfleet, KT14 7NY
Nature of business: Manufacture of fasteners and screws
%
Class of shares: holding
Ordinary 90.00
2024 2023
£    £   
Aggregate capital and reserves 1,144,135 1,171,705
Loss for the year (27,570 ) (11,611 )

BLUE DIAMOND PUMPS LTD (REGISTERED NUMBER: 09194022)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

11. FIXED ASSET INVESTMENTS - continued

Roycott Limited
Registered office: 100 Royston Road, Byfleet, KT14 7NY
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 751,761 751,761

Roycott Private Ltd.
Registered office: 22B Duxton Hill, Singapore 089605
Nature of business: Sale and distribution of pumps and compressors
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 1,807 (798 )
Profit for the year 2,605 8,415

C.A. Pumps B.V.
Registered office: Kiotoweg 743, 3047BG Rotterdam ,Netherlands
Nature of business: Sale and distribution of pumps and compressors
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 60,661 (20,264 )
Profit for the year 80,925 37,322


12. STOCKS

Group
2024 2023
£    £   
Stocks 3,396,712 3,948,200

BLUE DIAMOND PUMPS LTD (REGISTERED NUMBER: 09194022)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
2024 2023
£    £   
Trade debtors 1,461,609 1,594,268
Other debtors 3,589,133 3,536,521
Knight Racing Services Limited 29,000 29,000
Prepayments 447,744 382,892
5,527,486 5,542,681

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade creditors 3,040,874 3,065,477 - -
Amounts owed to group undertakings - - 4,217,264 3,738,251
Tax 423,130 197,997 20,910 16,091
Social security and other taxes 188,968 139,028 - -
Other creditors 493,257 483,639 180 180
Directors' loan accounts 564,788 1,104,605 561,611 1,101,611
Accrued expenses 3,836,350 4,011,006 - -
8,547,367 9,001,752 4,799,965 4,856,133

15. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax 249,045 212,534

Group
Deferred
tax
£   
Balance at 1 May 2023 212,534
Provided during year 36,511
Balance at 30 April 2024 249,045

BLUE DIAMOND PUMPS LTD (REGISTERED NUMBER: 09194022)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,206 Ordinary £1 1,206 1,206
70 A Ordinary £1 70 70
1,276 1,276

17. RESERVES

Group
Share
Retained Share Other options
earnings premium reserves reserve Totals
£    £    £    £    £   

At 1 May 2023 5,303,370 3,258,381 447,233 2,180,572 11,189,556
Profit for the year 3,974,300 3,974,300
At 30 April 2024 9,277,670 3,258,381 447,233 2,180,572 15,163,856

Company
Share
Retained Share Other options
earnings premium reserves reserve Totals
£    £    £    £    £   

At 1 May 2023 204,282 3,258,381 447,233 2,180,572 6,090,468
Profit for the year 62,728 62,728
At 30 April 2024 267,010 3,258,381 447,233 2,180,572 6,153,196


18. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is W E Shepherd.