REGISTERED NUMBER: 03502876 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

DIAPHRAGM PUMPS LIMITED

Page

Statement of Financial Position

1

to

2

Notes to the Financial Statements

3

to

8

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

127,119

55,338

127,119

55,338

CURRENT ASSETS

Stocks

2,710,811

2,333,158

Debtors

6

808,477

964,337

Cash at bank and in hand

1,533,592

1,328,151

5,052,880

4,625,646

CREDITORS

Amounts falling due within one year

7

(3,564,493

)

(3,153,324

)

NET CURRENT ASSETS

1,488,387

1,472,322

TOTAL ASSETS LESS CURRENT LIABILITIES

1,615,506

1,527,660

CREDITORS

Amounts falling due after more than one year

8

(61,852

)

-

PROVISIONS FOR LIABILITIES

(32,574

)

(7,366

)

NET ASSETS

1,521,080

1,520,294

CAPITAL AND RESERVES

Called up share capital

117

117

Retained earnings

1,520,963

1,520,177

1,521,080

1,520,294

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2025 and were signed on its behalf by:

B A Ciupek - Director

1.	STATUTORY INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 1, Willow Row, Longton, Stoke on Trent, Staffordshire, ST3 2PU.

Diaphragm Pumps Ltd is Europe's Premier Specialist Supplier of Air Operated Double Diaphragm Pumps.

We are official agents / distributors for most of the major pump brands providing a technical bridge between the manufacturer's product and our customer's needs. Our extensive stock includes pumps and spare parts for all Industrial Pumps including ATEX rated units, we also hold in stock sanitary pumps for the hygienic market, both food and pharmaceutical. Stocked pumps include ranges conforming to FDA, USDA, 3A and EHEDG Sanitary Specifications.

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Significant judgements

The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:

Stock provision

The company has a policy of holding large quantities of stock in order to offer the best service. Stock can be held for a number of years. A provision is made for stock items last sold over 10 years ago at 100% of the cost price and a provision is made for slow moving stock at 10% of the cost price.

REVENUE RECOGNITION

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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.

Website costs is being amortised evenly over its estimated useful life of two years.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% reducing balance

Fixtures and fittings

-

25% reducing balance

Motor vehicles

-

25% reducing balance

Computer equipment

-

straight line over 3 years

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

STOCKS

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

FINANCIAL INSTRUMENTS

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

CORPORATION TAX

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

FOREIGN CURRENCIES

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

FINANCE LEASES AND HIRE PURCHASE CONTRACTS

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

DEFINED CONTRIBUTION PLANS

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

OPERATING LEASES

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

IMPAIRMENT OF FIXED ASSETS

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

EMPLOYEE BENEFITS

The company provides a range of benefits to employees.

Short term benefits, including holiday pay, are recognised as an expense in the profit and loss account in the period in which they are incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2024 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Website

costs

£

COST

At 1 March 2024

and 28 February 2025

5,877

AMORTISATION

At 1 March 2024

and 28 February 2025

5,877

NET BOOK VALUE

At 28 February 2025

-

At 29 February 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 March 2024

34,663

1,464

106,395

56,213

198,735

Additions

-

90

89,999

18,190

108,279

At 28 February 2025

34,663

1,554

196,394

74,403

307,014

DEPRECIATION

At 1 March 2024

31,868

860

60,271

50,398

143,397

Charge for year

699

159

30,281

5,359

36,498

At 28 February 2025

32,567

1,019

90,552

55,757

179,895

NET BOOK VALUE

At 28 February 2025

2,096

535

105,842

18,646

127,119

At 29 February 2024

2,795

604

46,124

5,815

55,338

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Trade debtors

764,558

849,861

Amounts owed by group undertakings

32,685

103,082

Prepayments

11,234

11,394

808,477

964,337

Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Hire purchase contracts

13,227

-

Trade creditors

346,311

302,960

Amounts owed to group undertakings

3,017,658

2,638,838

Tax

146,396

136,711

Social security and other taxes

8,451

8,279

VAT

23,010

52,512

Other creditors

2,266

8,039

Accrued expenses

7,174

5,985

3,564,493

3,153,324

Amounts due to group undertakings are unsecured, interest free and repayable on demand.

A mortgage debenture in favour of Svenska Handelsbanken Ab exists dated 10 September 2008 incorporating a fixed and floating charge over all current and future assets of the company.

A charge in favour of Handelsbanken Finans Ab (Publ) exists dated 10 August 2016 incorporating a fixed and floating charge over all current and future assets of the company.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.25

29.2.24

£

£

Hire purchase contracts

61,852

-

Finance leases and hire purchase contracts are secured on the assets concerned.

9.	EVENTS AFTER THE END OF THE REPORTING DATE

There were no significant events up to the date of approval of the financial statements by the Board.

10.	CONTROLLING PARTY

The company is a wholly owned subsidiary of DPGOC Limited, a company incorporated in England and Wales.

11.	CONTINGENCIES, COMMITMENTS AND GUARANTEES

Other financial commitments at the balance sheet date totalled £33,201 (2024: £1,057).