Atlantic Pumps Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 09400148

Atlantic Pumps Limited

Filleted Unaudited Financial Statements

31 December 2024

Atlantic Pumps Limited

Financial Statements

Year ended 31 December 2024

Contents	Pages

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2 to 3

Notes to the financial statements	4 to 9

Atlantic Pumps Limited

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Atlantic Pumps Limited

Year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Atlantic Pumps Limited for the year ended 31 December 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Atlantic Pumps Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Atlantic Pumps Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Atlantic Pumps Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Atlantic Pumps Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Atlantic Pumps Limited. You consider that Atlantic Pumps Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Atlantic Pumps Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

HEBBLETHWAITES Chartered Accountants

2 Westbrook Court Sharrow Vale Road Sheffield S11 8YZ

29 September 2025

Atlantic Pumps Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Intangible assets	5	211,491	2,485
Tangible assets	6	782,238	764,599
Investments	7	–	90,650
		---------	---------
		993,729	857,734

Current assets

Stocks		2,137,067	2,541,205
Debtors	8	2,722,931	1,900,948
Cash at bank and in hand		133,606	393,656
		------------	------------
		4,993,604	4,835,809

Creditors: amounts falling due within one year	9	2,506,647	2,533,001
		------------	------------
Net current assets		2,486,957	2,302,808
		------------	------------
Total assets less current liabilities		3,480,686	3,160,542

Creditors: amounts falling due after more than one year	10	296,119	249,763

Provisions	45,980	78,850
	------------	------------
Net assets	3,138,587	2,831,929
	------------	------------

Atlantic Pumps Limited

Statement of Financial Position (continued)

31 December 2024

	2024	2023
Note	£	£

Capital and reserves

Called up share capital	125	125
Share premium account	25,616	25,616
Capital redemption reserve	5	5
Profit and loss account	3,112,841	2,806,183
	------------	------------
Shareholders funds	3,138,587	2,831,929
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 29 September 2025 , and are signed on behalf of the board by:

Mr A Smith	Mr W Noakes
Director	Director

Company registration number: 09400148

Atlantic Pumps Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Carrwood Road, Chesterfield, Derbyshire, S41 9QB, United Kingdom.

2. Statement of compliance

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'.

3. Accounting policies

Basis of preparation

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.

Revenue recognition

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

Research and development

Research and development expenditure is written off as incurred.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period.

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.

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.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Patents, trademarks and licences	-	50% straight line
Website	-	20% Straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

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.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	20% straight line
Motor vehicles	-	25% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

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.

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.

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.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 41 (2023: 34 ).

5. Intangible assets

	Patents, trademarks and licences	Website	Total
	£	£	£
Cost
At 1 January 2024	230,914	4,967	235,881
Additions	240,000	–	240,000
	---------	-------	---------
At 31 December 2024	470,914	4,967	475,881
	---------	-------	---------
Amortisation
At 1 January 2024	230,914	2,482	233,396
Charge for the year	30,000	994	30,994
	---------	-------	---------
At 31 December 2024	260,914	3,476	264,390
	---------	-------	---------
Carrying amount
At 31 December 2024	210,000	1,491	211,491
	---------	-------	---------
At 31 December 2023	–	2,485	2,485
	---------	-------	---------

6. Tangible assets

	Plant and machinery	Motor vehicles	Total
	£	£	£
Cost
At 1 January 2024	451,113	1,000,620	1,451,733
Additions	74,065	238,924	312,989
Disposals	–	( 86,237)	( 86,237)
	---------	------------	------------
At 31 December 2024	525,178	1,153,307	1,678,485
	---------	------------	------------
Depreciation
At 1 January 2024	252,129	435,005	687,134
Charge for the year	80,832	201,143	281,975
Disposals	–	( 72,862)	( 72,862)
	---------	------------	------------
At 31 December 2024	332,961	563,286	896,247
	---------	------------	------------
Carrying amount
At 31 December 2024	192,217	590,021	782,238
	---------	------------	------------
At 31 December 2023	198,984	565,615	764,599
	---------	------------	------------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Motor vehicles
	£
At 31 December 2024	466,857
	---------
At 31 December 2023	487,895
	---------

7. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2024 and 31 December 2024	90,650
	--------
Impairment
At 1 January 2024	–
Revaluations	90,650
	--------
At 31 December 2024	90,650
	--------

Carrying amount
At 31 December 2024	–
	--------
At 31 December 2023	90,650
	--------

During the prior year, the company acquired a majority shareholding in Infiniti Holdings Ltd. After an undertaking an impairment review in the year, this was revalued to nil, due to accumulated losses in the subsidiary of Infiniti Holdings Ltd, Peveril Machinery Ltd.

8. Debtors

	2024	2023
	£	£
Trade debtors	2,168,770	1,803,109
Amounts owed by group undertakings and undertakings in which the company has a participating interest	45,010	–
Other debtors	509,151	97,839
	------------	------------
	2,722,931	1,900,948
	------------	------------

9. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	152,827	6,974
Trade creditors	1,019,785	921,345
Corporation tax	118,147	184,939
Social security and other taxes	145,165	117,381
Other creditors	1,070,723	1,302,362
	------------	------------
	2,506,647	2,533,001
	------------	------------

Bank loans and overdrafts includes £124,171 (2023 £6,974) in respect of an invoice financing creditor and a bank loan secured upon the company's assets.

10. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	119,417	–
Other creditors	176,702	249,763
	---------	---------
	296,119	249,763
	---------	---------

Bank loans and overdrafts includes £119,417 (2023 £Nil) in respect of a bank loan secured upon the company's assets

11. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£
Not later than 1 year	17,857	17,857
	--------	--------

12. Research and development

During the year the company incurred research and development costs.

13. Related party transactions

During a prior period, the company provided a guarantee on behalf of NMD Trading Company, a related party by virtue of its majority shareholding. The amount of guarantee is limited to £1,036,829, regarding a bank loan advanced to NMD Trading Company during that year.