REGISTERED NUMBER: 09194022 (England and Wales)

GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025

FOR

BLUE DIAMOND PUMPS LTD

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

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

The directors present their strategic report of the company and the group for the year ended 30 April 2025.

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% (2024: 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.

KEY PERFORMANCE INDICATORS

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

2025

2024

Change

£

£

%

Turnover

19,653

20,328

-3.32

Operating profit

6,254

5,291

18.21

EBITDA

6,900

5,884

17.27

Cash

20,272

17,304

17.15

Net Assets

23,750

20,416

16.33

Average number of employees

93

95

-2.11

The Group had another strong year of sales and profit growth. Despite continued downward market price pressures, gross profit margins remained stable at 66.28% (2024: 56.46%) 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

29 April 2026

The directors present their report with the financial statements of the company and the group for the year ended 30 April 2025.

PRINCIPAL ACTIVITY

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

DIVIDENDS

Interim dividends per share were paid as follows:

Ordinary £1 shares

£1959.24864

- 29 September 2024

A Ordinary £1 shares

£1959.24864

- 29 September 2024

The directors recommend that no final dividends be paid.

The total distribution of dividends for the year ended 30 April 2025 will be £ 2,500,000 .

DIRECTORS

The directors shown below have held office during the whole of the period from 1 May 2024 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.

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

29 April 2026

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 2025 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 2025 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.

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.

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 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.

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 (Statutory Auditor)

for and on behalf of Jamesons Limited

Chartered Accountants and Statutory Auditors

Jamesons House

Compton Way

Witney

OX28 3AB

29 April 2026

TURNOVER

3

19,653,145

20,328,035

Cost of sales

6,627,977

8,850,112

GROSS PROFIT

13,025,168

11,477,923

Administrative expenses

7,242,492

6,860,054

5,782,676

4,617,869

Other operating income

471,353

673,120

OPERATING PROFIT

5

6,254,029

5,290,989

Interest receivable and similar income

812,125

586,625

7,066,154

5,877,614

Interest payable and similar expenses

6

20,614

15,696

PROFIT BEFORE TAXATION

7,045,540

5,861,918

Tax on profit

7

1,211,695

905,250

PROFIT FOR THE FINANCIAL YEAR

5,833,845

4,956,668

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

5,833,845

4,956,668

Profit attributable to:

Owners of the parent

4,710,307

3,974,300

Non-controlling interests

1,123,538

982,368

5,833,845

4,956,668

Total comprehensive income attributable to:

Owners of the parent

4,710,307

3,974,300

Non-controlling interests

1,123,538

982,368

5,833,845

4,956,668

FIXED ASSETS

Intangible assets

10

381,330

576,149

Tangible assets

11

2,206,241

2,398,008

Investments

12

10,050

10,050

2,597,621

2,984,207

CURRENT ASSETS

Stocks

13

4,455,373

3,396,712

Debtors

14

5,943,913

5,527,486

Cash at bank and in hand

20,272,305

17,304,062

30,671,591

26,228,260

CREDITORS

Amounts falling due within one year

15

9,306,084

8,547,367

NET CURRENT ASSETS

21,365,507

17,680,893

TOTAL ASSETS LESS CURRENT LIABILITIES

23,963,128

20,665,100

PROVISIONS FOR LIABILITIES

16

213,228

249,045

NET ASSETS

23,749,900

20,416,055

CAPITAL AND RESERVES

Called up share capital

17

1,276

1,276

Share premium

18

3,258,381

3,258,381

Other reserves

18

447,233

447,233

Share options reserve

18

2,180,572

2,180,572

Retained earnings

18

11,487,977

9,277,670

SHAREHOLDERS' FUNDS

17,375,439

15,165,132

NON-CONTROLLING INTERESTS

6,374,461

5,250,923

TOTAL EQUITY

23,749,900

20,416,055

The financial statements were approved by the Board of Directors and authorised for issue on 29 April 2026 and were signed on its behalf by:

W E Shepherd - Director

FIXED ASSETS

Intangible assets

10

-

-

Tangible assets

11

-

-

Investments

12

10,944,447

10,944,447

10,944,447

10,944,447

CURRENT ASSETS

Cash at bank

5,218

9,990

CREDITORS

Amounts falling due within one year

15

4,732,490

4,799,965

NET CURRENT LIABILITIES

(4,727,272

)

(4,789,975

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,217,175

6,154,472

CAPITAL AND RESERVES

Called up share capital

17

1,276

1,276

Share premium

18

3,258,381

3,258,381

Other reserves

18

447,233

447,233

Share options reserve

18

2,180,572

2,180,572

Retained earnings

18

329,713

267,010

SHAREHOLDERS' FUNDS

6,217,175

6,154,472

Company's profit for the financial year

2,562,703

62,728

The financial statements were approved by the Board of Directors and authorised for issue on 29 April 2026 and were signed on its behalf by:

W E Shepherd - Director

Called up

share

Retained

Share

Other

capital

earnings

premium

reserves

£

£

£

£

Balance at 1 May 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

Changes in equity

Dividends

-

(2,500,000

)

-

-

Total comprehensive income

-

4,710,307

-

-

Balance at 30 April 2025

1,276

11,487,977

3,258,381

447,233

Share

options

Non-controlling

Total

reserve

Total

interests

equity

£

£

£

£

Balance at 1 May 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

Changes in equity

Dividends

-

(2,500,000

)

-

(2,500,000

)

Total comprehensive income

-

4,710,307

1,123,538

5,833,845

Balance at 30 April 2025

2,180,572

17,375,439

6,374,461

23,749,900

Called up

share

Retained

Share

capital

earnings

premium

£

£

£

Balance at 1 May 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

Changes in equity

Dividends

-

(2,500,000

)

-

Total comprehensive income

-

2,562,703

-

Balance at 30 April 2025

1,276

329,713

3,258,381

Share

Other

options

Total

reserves

reserve

equity

£

£

£

Balance at 1 May 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

Changes in equity

Dividends

-

-

(2,500,000

)

Total comprehensive income

-

-

2,562,703

Balance at 30 April 2025

447,233

2,180,572

6,217,175

Cash flows from operating activities

Cash generated from operations

1

4,527,988

6,316,274

Interest paid

(20,614

)

(15,696

)

Tax paid

(1,336,621

)

(647,997

)

Net cash from operating activities

3,170,753

5,652,581

Cash flows from investing activities

Purchase of tangible fixed assets

(259,598

)

(483,182

)

Sale of tangible fixed assets

483

29,854

Interest received

812,125

586,625

Net cash from investing activities

553,010

133,297

Cash flows from financing activities

Amount introduced by directors

1,744,480

-

Amount withdrawn by directors

-

(539,817

)

Equity dividends paid

(2,500,000

)

-

Net cash from financing activities

(755,520

)

(539,817

)

Increase in cash and cash equivalents

2,968,243

5,246,061

Cash and cash equivalents at beginning of year

2

17,304,062

12,058,001

Cash and cash equivalents at end of year

2

20,272,305

17,304,062

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

2025

2024

£

£

Profit before taxation

7,045,540

5,861,918

Depreciation charges

644,379

600,479

Loss/(profit) on disposal of fixed assets

1,305

(7,920

)

Finance costs

20,614

15,696

Finance income

(812,125

)

(586,625

)

6,899,713

5,883,548

(Increase)/decrease in stocks

(1,058,661

)

551,488

(Increase)/decrease in trade and other debtors

(272,285

)

20,939

Decrease in trade and other creditors

(1,040,779

)

(139,701

)

Cash generated from operations

4,527,988

6,316,274

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 2025

30.4.25

1.5.24

£

£

Cash and cash equivalents

20,272,305

17,304,062

Year ended 30 April 2024

30.4.24

1.5.23

£

£

Cash and cash equivalents

17,304,062

12,058,001

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.5.24

Cash flow

At 30.4.25

£

£

£

Net cash

Cash at bank and in hand

17,304,062

2,968,243

20,272,305

17,304,062

2,968,243

20,272,305

Total

17,304,062

2,968,243

20,272,305