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REGISTERED NUMBER: 01628083 (England and Wales)















Pump Supplies Ltd

Strategic Report, Report of the Directors and

Audited Financial Statements for the Year Ended 31 December 2024






Pump Supplies Ltd (Registered number: 01628083)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Statement of Comprehensive Income 6

Balance Sheet 7

Statement of Changes in Equity 8

Notes to the Financial Statements 9


Pump Supplies Ltd

Company Information
for the Year Ended 31 December 2024







Directors: Mr P J Lewington
Mr J F Cederstrand
Mr L Beattie
J Attwood-Jones



Registered office: Unit 1 The Old Airfield
Moreton
Gloucester
United Kingdom
GL2 7NG



Registered number: 01628083 (England and Wales)



Auditors: Menzies LLP, Statutory Auditors
5th Floor Hodge House
114-116 St Mary Street
Cardiff
CF10 1DY



Bankers: Lloyds TSB Bank PLC
115-119 Station Road
Port Talbot
West Glamorgan
SA13 1NR

Pump Supplies Ltd (Registered number: 01628083)

Strategic Report
for the Year Ended 31 December 2024

The directors present their strategic report for the year ended 31 December 2024.

Review of business
Turnover has increased from £30,865,870 to £34,278,511 for year to 31st December 2024. Gross profit margin for the year has increased when compared with the comparative period (Dec 24: 58.85%, Dec 23: 52.66%).

The company achieved a profit before tax of £8,613,049 (Dec 23:£6,918,972).

The company has continued to perform well in the period and continues to compete in a market place which can be difficult to operate in.

Operating profits reflect the efforts of the employees and Directors, with operating profits of £8,130,550 representing a margin of 23.72% (2023: 20.19%). This confirms the service levels being delivered provide a solid platform for growth in both existing relationships and new contracts.

The net assets of the business totalled £31,114,876 (Dec 23: £24,369,306), an increase of £6,745,570 which confirms the desire of the company to ensure that it continues to have the resources at hand to react dynamically to the needs of its customer base especially in the face of the ever changing weather patterns.

Principal risks and uncertainties
The business' principal financial instruments comprise bank balances, trade debtors, trade creditors and loans to the business. The main purpose of these instruments is to finance the business' operations.

In respect of bank balances, the liquidity risk is managed by maintaining a balance between available funds and maintaining the company infrastructure. All of the business' cash balances are held in such a way that achieves a competitive rate of interest. The business makes use of money market facilities where funds are available.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits. The amounts presented in the balance sheet are net of allowances for doubtful debtors.

Trade creditors' liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

The business manages the liquidity risk by ensuring that there are sufficient funds to meet the payments.

On behalf of the board:





Mr L Beattie - Director


28 August 2025

Pump Supplies Ltd (Registered number: 01628083)

Report of the Directors
for the Year Ended 31 December 2024

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

Principal activity
The principal activity of the company in the year under review was that of the supply, maintenance and hire of pumping equipment

Dividends
The total distribution of dividends for the year ended 31 December 2024 was £Nil (Dec 23 - £500,000)

Directors
The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

Mr P J Lewington
Mr J F Cederstrand
Mr L Beattie

Other changes in directors holding office are as follows:

J Attwood-Jones - appointed 1 May 2024

Statement of directors' responsibilities
The directors are responsible for preparing the 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), 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 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 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.

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

On behalf of the board:





Mr L Beattie - Director


28 August 2025

Report of the Independent Auditors to the Members of
Pump Supplies Ltd

Opinion
We have audited the financial statements of Pump Supplies Ltd (the 'company') for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and 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 company's affairs as at 31 December 2024 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 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 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 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 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 Strategic Report and the Report of the Directors 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 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, 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.

Report of the Independent Auditors to the Members of
Pump Supplies Ltd


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

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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our planning procedures identify the legal and regulatory frameworks applicable to the operations and financial
statements of the company. These are reviewed internally with the audit team including relevant industry experience
and expectations as well as externally with the client management. The key laws and regulations we considered in this context were the UK Companies Act 2006, UK GAAP (FRS 102) and relevant tax legislation.

Once identified, we assess the risks of material misstatements in relation to the laws and regulations, irregularities,
including fraud and adjust our testing accordingly. Our audit procedures include:

- Discussing with Directors and management which areas of the business they believe to be more susceptible to
fraud, and whether they have any knowledge or suspicion of fraudulent activities.
- Discussing with Directors and management the legal and regulatory obligations of the business and whether they
have any knowledge or suspicion of non-compliance.
- Obtaining an understanding of the key controls put in place by the company to address risks identified,
assessing the effectiveness of those and discussing how these are maintained and monitored internally.
- Assessing the risk of management override and review and testing of journal entries made into the accounting
system.
- Challenging assumptions and judgements made by the company in relation to the significant accounting
estimates employed in the preparation of the financial statements.

Despite the audit being planned and conducted in accordance with ISAs (UK) there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitations of the audit, and that by their very nature, any such instances of fraud or irregularities likely involve collusion, forgery, intentional
misrepresentation, or the override of internal controls.

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.

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.




Clive Edwards (Senior Statutory Auditor)
for and on behalf of Menzies LLP, Statutory Auditors
5th Floor Hodge House
114-116 St Mary Street
Cardiff
CF10 1DY

28 August 2025

Pump Supplies Ltd (Registered number: 01628083)

Statement of Comprehensive
Income
for the Year Ended 31 December 2024

2024 2023
Notes £    £   

Turnover 34,278,511 30,865,870

Cost of sales (14,105,338 ) (14,611,234 )
Gross profit 20,173,173 16,254,636

Administrative expenses (12,042,623 ) (10,048,042 )
Operating profit 8,130,550 6,206,594

Interest receivable and similar income 546,008 745,661
8,676,558 6,952,255

Interest payable and similar expenses 4 (63,509 ) (33,283 )
Profit before taxation 5 8,613,049 6,918,972

Tax on profit 6 (1,867,479 ) (1,734,213 )
Profit for the financial year 6,745,570 5,184,759

Other comprehensive income - -
Total comprehensive income for the year 6,745,570 5,184,759

Pump Supplies Ltd (Registered number: 01628083)

Balance Sheet
31 December 2024

2024 2023
Notes £    £   
Fixed assets
Intangible assets 8 125,530 142,084
Tangible assets 9 5,633,352 4,560,294
Investments 10 16,446,221 1
22,205,103 4,702,379

Current assets
Stocks 11 2,314,477 1,922,848
Debtors: amounts falling due within one year 12 7,244,729 7,559,826
Debtors: amounts falling due after more than
one year

12

6,297,128

13,532,963
Cash at bank 2,396,699 5,981,491
18,253,033 28,997,128
Creditors
Amounts falling due within one year 13 (6,603,438 ) (7,649,998 )
Net current assets 11,649,595 21,347,130
Total assets less current liabilities 33,854,698 26,049,509

Creditors
Amounts falling due after more than one
year

14

(1,740,857

)

(778,324

)

Provisions for liabilities 18 (998,965 ) (901,879 )
Net assets 31,114,876 24,369,306

Capital and reserves
Called up share capital 19 4,500 4,500
Capital redemption reserve 20 500 500
Retained earnings 20 31,109,876 24,364,306
Shareholders' funds 31,114,876 24,369,306

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2025 and were signed on its behalf by:





Mr L Beattie - Director


Pump Supplies Ltd (Registered number: 01628083)

Statement of Changes in Equity
for the Year Ended 31 December 2024

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 January 2023 4,500 19,679,547 500 19,684,547

Changes in equity
Dividends - (500,000 ) - (500,000 )
Total comprehensive income - 5,184,759 - 5,184,759
Balance at 31 December 2023 4,500 24,364,306 500 24,369,306

Changes in equity
Total comprehensive income - 6,745,570 - 6,745,570
Balance at 31 December 2024 4,500 31,109,876 500 31,114,876

Pump Supplies Ltd (Registered number: 01628083)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. Statutory information

Pump Supplies Ltd is a private company, limited by shares, registered in the United Kingdom. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

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

The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the rolling forecasts and future cash flows in making their assessment.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

Preparation of consolidated financial statements
The financial statements contain information about Pump Supplies Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 401 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Vestum AB, Birger Jarlsgatan 27, Stockholm, Sweden, 11145.

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.

Critical accounting judgements 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover
Turnover represents amounts chargeable, net of value added tax, in respect of the supply, maintenance and hire of pumps and pumping equipment to customers.

Turnover arising from the hire of assets is recognised in the profit and loss account on a straight line basis over the period of hire.

Turnover arising from the sale of consumable stock is recognised in the profit and loss account when the significant risks and rewards of ownership has transferred to the buyer. This occurs when the item has been delivered to the customers location.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Pump Supplies Ltd (Registered number: 01628083)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. Accounting policies - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 4% on cost
Long leasehold - 4% on cost
Plant and machinery - Straight line over 6 years
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks.

In the case of ex-hire equipment assets, at the lower of cost less accumulated depreciation and impairment at the date of transfer.

The estimated selling price is based on a selling price, less further costs expected to be incurred to completion and disposal. Provision is made for obsolete, slow moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stock over its estimated selling price less costs to complete and sell is recognised as an impairment loss in the profit and loss. Reversals of impairment losses are also recognised in the profit and loss.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at their transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the 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.

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.

Pump Supplies Ltd (Registered number: 01628083)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. Accounting policies - continued

Accounting for leases by lessor
Operating leases
Assets held for use in operating leases are included as fixed assets at cost and depreciated over their useful life.

Hire income from operating leases is recognised on a straight line basis over the term of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Investment in subsidiaries
Investments in subsidiaries are recognised at cost less impairment.

3. Employees and directors
2024 2023
£    £   
Wages and salaries 6,017,674 5,125,429
Social security costs 736,331 621,138
Other pension costs 484,122 431,735
7,238,127 6,178,302

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

Administration and support 16 16
Production 54 49
Sales 15 15
Other department 3 3
88 83

The key management for the Company is considered to be the directors.

2024 2023
£    £   
Directors' remuneration 398,747 287,231
Directors' pension contributions to money purchase schemes 14,070 8,759

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 3 2

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 244,180 177,338
Pension contributions to money purchase schemes 7,329 6,697

4. Interest payable and similar expenses
2024 2023
£    £   
Bank loan interest 63,509 33,283

Pump Supplies Ltd (Registered number: 01628083)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. Profit before taxation

The profit is stated after charging/(crediting):

2024 2023
£    £   
Hire of plant and machinery 3,721,108 3,002,861
Other operating leases 355,829 355,829
Depreciation - owned assets 1,128,409 985,668
Depreciation - assets on hire purchase contracts 469,256 254,069
Profit on disposal of fixed assets (117,833 ) (335,617 )
Goodwill amortisation 16,554 16,554
Auditors' remuneration 9,596 12,565
Other non- audit services 5,654 5,385

6. 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 1,770,392 1,182,651

Deferred tax 97,087 551,562
Tax on profit 1,867,479 1,734,213

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 8,613,049 6,918,972
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 25%)

2,153,262

1,729,743

Effects of:
Expenses not deductible for tax purposes 51,852 16,235
Capital allowances in excess of depreciation (178,677 ) (429,504 )
Adjustments to tax charge in respect of previous periods - 6,244
General bad debt provision 11,000 50,000
Profit/Loss on disposal (29,459 ) (69,069 )
Deferred tax movement 97,087 551,562
Change in tax rates - (68,991 )
Group loss relief (237,586 ) (137,829 )
Accelerated charge - 85,822
Total tax charge 1,867,479 1,734,213

7. Dividends
2024 2023
£    £   
Ordinary shares of 1 each
Interim - 500,000

Pump Supplies Ltd (Registered number: 01628083)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

8. Intangible fixed assets
Goodwill
£   
Cost
At 1 January 2024
and 31 December 2024 165,535
Amortisation
At 1 January 2024 23,451
Amortisation for year 16,554
At 31 December 2024 40,005
Net book value
At 31 December 2024 125,530
At 31 December 2023 142,084

9. Tangible fixed assets
Freehold Long Plant and
property leasehold machinery
£    £    £   
Cost
At 1 January 2024 292,307 115,106 12,281,489
Additions - - 1,804,446
Disposals - - (217,366 )
At 31 December 2024 292,307 115,106 13,868,569
Depreciation
At 1 January 2024 292,307 32,229 9,287,515
Charge for year - - 962,762
Eliminated on disposal - - (194,718 )
At 31 December 2024 292,307 32,229 10,055,559
Net book value
At 31 December 2024 - 82,877 3,813,010
At 31 December 2023 - 82,877 2,993,974

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
Cost
At 1 January 2024 479,801 2,646,665 15,815,368
Additions 143,883 797,341 2,745,670
Disposals - (273,707 ) (491,073 )
At 31 December 2024 623,684 3,170,299 18,069,965
Depreciation
At 1 January 2024 241,849 1,401,174 11,255,074
Charge for year 100,993 533,910 1,597,665
Eliminated on disposal - (221,408 ) (416,126 )
At 31 December 2024 342,842 1,713,676 12,436,613
Net book value
At 31 December 2024 280,842 1,456,623 5,633,352
At 31 December 2023 237,952 1,245,491 4,560,294

Pump Supplies Ltd (Registered number: 01628083)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

9. Tangible fixed assets - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
Cost
At 1 January 2024 1,460,578
Additions 675,270
Disposals (58,995 )
At 31 December 2024 2,076,853
Depreciation
At 1 January 2024 354,029
Charge for year 469,256
Eliminated on disposal (19,665 )
At 31 December 2024 803,620
Net book value
At 31 December 2024 1,273,233
At 31 December 2023 1,106,549

10. Fixed asset investments
Investment
in
subsidiaries
£   
Cost
At 1 January 2024 1
Additions 16,446,220
At 31 December 2024 16,446,221
Net book value
At 31 December 2024 16,446,221
At 31 December 2023 1

The company's investments at the balance sheet date in the share capital of its subsidiaries are as follows:
Class of shares held % Holding

PD Pumps Ltd Ordinary 100
PDAS Holdings Ltd Ordinary 100
Pump Design and Services Ltd Ordinary 100
PDAS Install Ltd Ordinary 100
PDAS Proactive Ltd Ordinary 100
PDAS Projects Ltd Ordinary 100
PDAS Rental Ltd Ordinary 100

During the year, the company aquired 100% of the shares of PDAS Holdings Ltd. At the time of acquisition PDAS Holdings had 5 subsidiaries all of which were aquired by Pump Supplies Ltd, those companies are listed above.

All of the subsidiaries above were incorporated in England and Wales.

The principal activities of these are supply of submersible and dry installed pumps.

The registered address of PD Pumps Ltd is shared with Pump Supplies Ltd and can be found on the General Information page.

The registered address of the PDAS group subsidiaries is Building 4.6 HiTech, Frimley Business Park, Frimley, Camberley, Surrey, GU16 7SG.

Pump Supplies Ltd (Registered number: 01628083)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

11. Stocks
2024 2023
£    £   
Stocks 2,314,477 1,922,848

12. Debtors
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 6,807,427 7,008,201
Prepayments 437,302 551,625
7,244,729 7,559,826

Amounts falling due after more than one year:
Amounts owed by group undertakings 6,297,128 13,532,963

Aggregate amounts 13,541,857 21,092,789

13. Creditors: amounts falling due within one year
2024 2023
£    £   
Hire purchase contracts (see note 15) 504,843 358,775
Trade creditors 2,694,508 3,825,243
Amounts owed to group undertakings 1,000,000 -
Tax 6,486 1,254,728
Social security and other taxes 282,238 326,348
VAT 256,127 402,120
Other creditors 600,000 -
Accruals and deferred income 1,259,236 1,482,784
6,603,438 7,649,998

14. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Hire purchase contracts (see note 15) 840,857 778,324
Other creditors 900,000 -
1,740,857 778,324

15. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase
contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 504,843 358,775
Between one and five years 840,857 778,324
1,345,700 1,137,099

Pump Supplies Ltd (Registered number: 01628083)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

15. Leasing agreements - continued

Non-cancellable
operating leases
2024 2023
£    £   
Within one year 318,329 318,329
Between one and five years 912,219 1,065,548
In more than five years 192,500 357,500
1,423,048 1,741,377

Lease payments recognised as an expense in the year totalled £355,829 (December 2023: £355,829).

16. Secured debts

An unlimited debenture dated 13/12/2021 incorporating a fixed and floating charge is held as security over the commercial leasehold property known as land at Llewellyn's Quay.

HP liabilities including those reported in note 14 are secured against the various assets purchased by the company.

17. Financial instruments

Note 2 to these financial statements details the accounting policy for financial instruments.
The company has the following financial instruments measured at amortised cost:

2024 2023
£ £
Financial assets that are debt instruments
Trade Debtors 6,807,427 7,008,201
Amounts owed by group undertakings 6,297,128 13,532,963

Financial Liabilities
Trade Creditors 2,694,508 3,825,243
Other Creditors & Accruals 3,230,807 1,482,784
Hire Purchase Liabilities 1,345,700 1,137,099
Amounts owed to group undertakings 1,000,000 -

18. Provisions for liabilities
2024 2023
£    £   
Deferred tax 998,965 901,879

Deferred
tax
£   
Balance at 1 January 2024 901,879
Charge to Statement of Comprehensive Income during year 97,086
Balance at 31 December 2024 998,965

19. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
4,500 Ordinary 1 4,500 4,500

Pump Supplies Ltd (Registered number: 01628083)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

20. Reserves
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 January 2024 24,364,306 500 24,364,806
Profit for the year 6,745,570 6,745,570
At 31 December 2024 31,109,876 500 31,110,376

21. Pension commitments

The company operates a defined contribution pension scheme. The pension cost charge for the period represents contributions payable by the company to the scheme and amounted to £484,122 (Dec 2023: £431,735).

At the year end £190,750 (Dec 23:£95,557) was outstanding as a pension accrual.

22. Ultimate parent company

The parent company is Vestum UK Limited. The ultimate parent company is Vestum AB (publ), incorporated in Sweden.