REGISTERED NUMBER: 02320012 (England and Wales)

Strategic Report,

Report of the Directors and

Financial Statements

for the Year Ended 30 November 2025

for

T-T PUMPS LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Statement of Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Cash Flow Statement

12

Notes to the Cash Flow Statement

13

Notes to the Financial Statements

14

Directors:

R C Nash

S Thomas

B W Nash

P J Hindley

Secretary:

S Thomas

Registered office:

Onneley Works

Newcastle Road

Woore

Crewe

Cheshire

CW3 9RU

Registered number:

02320012 (England and Wales)

Auditors:

S&W Audit

Pall Mall

1 Pollen Square

59 King Street

Manchester

M2 4PD

The directors present their strategic report for the year ended 30 November 2025.

Principal activity

The principal activity of the company in the year under review was that of the supply of pumps, associated control equipment and technical expertise.

Review of business

Turnover has increased by 12.1% this year but this has not been at the expense of the gross profit rate which has improved slightly. The directors are satisfied with the performance for the year. The company does not have any borrowings. Cash balances have decreased by £407,519 which is in line with the profit for the year after dividends and the decrease in creditors. The company continues to maintain adequate reserves.

The company's key financial and other performance indicators during the year were as follows:

Unit

2025

2024

Turnover

£

23,576,743

21,033,762

Turnover movement

%

12.1

(4.4

)

Gross profit margin

%

43.1

43.0

Profit before tax

£

1,389,579

1,816,338

The company continues to invest in people and so turnover and net profit are anticipated to increase in the coming year.

Principal risks and uncertainties

The company is subject to increasing competitive pressures and margins are constantly under review. We will continue to focus the business on the key areas of success.

On behalf of the board:

R C Nash - Director

1 May 2026

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

Principal activity

The principal activity of the company in the year under review was that of the supply of pumps, associated control equipment and technical expertise.

Dividends

Dividends declared for the year were £600,000. The directors do not recommend the payment of a final dividend.

Research and development

The company will continue to invest in research and development in order to maintain a competitive position in the market.

Future developments

The directors consider that the company is well placed to grow in the foreseeable future. It holds important certifications for a number of its products and intends to expand its product range in the future.

Directors

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

R C Nash

S Thomas

B W Nash

P J Hindley

Financial instruments

Objectives and policies

The company’s activities expose it to a number of financial risks including changes in foreign currency exchange rates, credit risk, interest rate and liquidity risk.

The company's principal financial instruments comprise bank balances, trade debtors and trade creditors. The main purpose of these instruments is to finance the company's operations. Forward contracts are not taken out to manage changes in foreign currency exchange rates.

Price risk, credit risk, liquidity risk and cash flow risk

In respect of bank balances, the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility. All of the company's cash balances are held in such a way that achieves more certainty in respect of foreign exchange variations.

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 receivables.

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

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). 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 ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

On behalf of the board:

R C Nash - Director

1 May 2026

Opinion

We have audited the financial statements of T-T Pumps Limited (the 'company') for the year ended 30 November 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the 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 company's affairs as at 30 November 2025 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 other information comprises the information included in the report of the directors, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the report of the directors. 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. 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 course of 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.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on pages three and 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 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

We obtained a general understanding of the company's legal and regulatory framework through enquiry of management concerning their understanding of relevant laws and regulations, the entity's procedures regarding compliance and how they identify, evaluate and account for litigation claims. We also drew on our existing understanding of the company's industry and regulation.

We understand that the company complies with the framework through outsourcing accounts preparation and tax compliance to external experts.

In the context of the audit, we considered those laws and regulations which determine the form and the content of the financial statements, which are central to the company's ability to conduct its business and where there is a risk that failure to comply could result in material penalties. We identified the following laws and regulations as being the significance in the context of the company:

- The Companies Act 2006 and FRS 102 in respect of the preparation and presentation of the financial statements:

- UK taxation law:

- ISO9001/14001/45001.

We performed the following specific procedures to gain evidence about compliance with the significant laws and regulations identified above:

- Inspecting correspondence in relation to compliance with ISOs and confirming certifications are up to date.

The senior statutory audit led a discussion with senior member of the engagement team regarding the susceptibility of the entity's financial statements to material misstatement, including how fraud might occur.

The areas identified in this discussion were:

- Manipulation of financial statements, especially revenue, via fraudulent journal entries:

All members of the engagement team were present at the discussion.

The procedures we carried out to gain evidence in the above areas included:

- Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;

- Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;

- Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud;

- Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations;

- Assessing management estimates, in particular in respect of cost of sale calculations, by evaluating the significant assumptions and the choice of data used; and

- We have tested a sample of sales orders and contracts in the year, ensuring they have led to sales in the financial statements as well as assessing both cut-off and trade debtors. Cut-off testing was performed by tracing sales to delivery notes, and trade debtor balances were testing by agreeing them to subsequent cash receipts.

Because of the inherent limitations of an audit, there is 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. This 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. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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.

Angela Chorlton FCA (Senior Statutory Auditor)

for and on behalf of S&W Audit

Pall Mall

1 Pollen Square

59 King Street

Manchester

M2 4PD

1 May 2026

Turnover

4

23,576,743

21,033,762

Cost of sales

(13,411,973

)

(11,991,429

)

Gross profit

10,164,770

9,042,333

Administrative expenses

(8,786,266

)

(7,235,776

)

Operating profit

6

1,378,504

1,806,557

Interest receivable and similar income

11,075

9,781

Profit before taxation

1,389,579

1,816,338

Tax on profit

7

(239,069

)

(358,885

)

Profit for the financial year

1,150,510

1,457,453

Other comprehensive income

-

-

Total comprehensive income for the year

1,150,510

1,457,453

Fixed assets

Tangible assets

9

1,208,012

977,575

Current assets

Stocks

10

3,596,054

2,724,291

Debtors

11

4,992,225

3,958,864

Cash at bank and in hand

753,010

1,160,529

9,341,289

7,843,684

Creditors

Amounts falling due within one year

12

4,712,341

3,569,159

Net current assets

4,628,948

4,274,525

Total assets less current liabilities

5,836,960

5,252,100

Provisions for liabilities

14

209,850

175,500

Net assets

5,627,110

5,076,600

Capital and reserves

Called up share capital

15

50,000

50,000

Share premium

16

78,571

78,571

Capital redemption reserve

16

221,430

221,430

Retained earnings

16

5,277,109

4,726,599

Shareholders' funds

5,627,110

5,076,600

The financial statements were approved by the Board of Directors and authorised for issue on 1 May 2026 and were signed on its behalf by:

R C Nash - Director

Called up

Capital

share

Retained

Share

redemption

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1 December 2023

50,000

4,269,146

78,571

221,430

4,619,147

Changes in equity

Dividends

-

(1,000,000

)

-

-

(1,000,000

)

Total comprehensive income

-

1,457,453

-

-

1,457,453

Balance at 30 November 2024

50,000

4,726,599

78,571

221,430

5,076,600

Changes in equity

Dividends

-

(600,000

)

-

-

(600,000

)

Total comprehensive income

-

1,150,510

-

-

1,150,510

Balance at 30 November 2025

50,000

5,277,109

78,571

221,430

5,627,110

Cash flows from operating activities

Cash generated from operations

1

1,395,134

1,548,235

Tax paid

(361,379

)

-

Net cash from operating activities

1,033,755

1,548,235

Cash flows from investing activities

Purchase of tangible fixed assets

(538,128

)

(305,990

)

Sale of tangible fixed assets

35,779

49,283

Interest received

11,075

9,781

Net cash from investing activities

(491,274

)

(246,926

)

Cash flows from financing activities

Amount introduced by directors

-

350,000

Amount withdrawn by directors

(350,000

)

-

Equity dividends paid

(600,000

)

(1,000,000

)

Net cash from financing activities

(950,000

)

(650,000

)

(Decrease)/increase in cash and cash equivalents

(407,519

)

651,309

Cash and cash equivalents at beginning of year

2

1,160,529

509,220

Cash and cash equivalents at end of year

2

753,010

1,160,529

1.	Reconciliation of profit before taxation to cash generated from operations

2025

2024

£

£

Profit before taxation

1,389,579

1,816,338

Depreciation charges

271,912

272,276

Finance income

(11,075

)

(9,781

)

1,650,416

2,078,833

Increase in stocks

(871,763

)

(130,621

)

Increase in trade and other debtors

(1,033,361

)

(84,601

)

Increase/(decrease) in trade and other creditors

1,649,842

(315,376

)

Cash generated from operations

1,395,134

1,548,235

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 November 2025

30/11/25

1/12/24

£

£

Cash and cash equivalents

753,010

1,160,529

Year ended 30 November 2024

30/11/24

1/12/23

£

£

Cash and cash equivalents

1,160,529

509,220

3.	Analysis of changes in net funds

At 1/12/24

Cash flow

At 30/11/25

£

£

£

Net cash

Cash at bank and in hand

1,160,529

(407,519

)

753,010

1,160,529

(407,519

)

753,010

Total

1,160,529

(407,519

)

753,010

1.	Statutory information

T-T Pumps Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Statement of compliance

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.

3.	Accounting policies

Basis of preparing the financial statements

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

The financial statements have been prepared on a going concern basis.

Significant judgements and estimates

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

There are not considered to be any critical judgements in applying the company's accounting policies.

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. There are no estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of assets or liabilities.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of pumping equipment and technical expertise to customers. Contract income is recognised when and to the extent that the company obtains the right to consideration in exchange for performance. Revenue is measured at the fair value of the right to consideration.

Tangible fixed assets

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

Short leasehold

-

10% straight line

Plant and machinery

-

10% straight line

Fixtures and fittings

-

10% straight line

Motor vehicles

-

25% straight line

Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price and costs directly attributable to bringing the asset to its working condition for its intended use.

Stocks

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

Financial instruments

The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other debtors and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

There are no assets which are initially measured at fair value.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors, that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

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.

Research and development

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

Foreign currencies

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4.

Turnover

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2025

2024

£

£

United Kingdom

22,941,979

20,476,364

Europe

275,372

240,508

Rest of the World

359,392

316,890

23,576,743

21,033,762

5.	Employees and directors

2025

2024

£

£

Wages and salaries

7,110,035

5,796,178

Social security costs

828,701

462,345

Other pension costs

397,706

377,753

8,336,442

6,636,276

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

2025

2024

Administration and support

28

27

Production

114

109

Other departments

4

4

146

140

2025

2024

£

£

Directors' remuneration

1,606,834

623,404

Directors' pension contributions to money purchase schemes

58,570

50,494

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

Money purchase schemes

2

2

Information regarding the highest paid director is as follows:

2025

2024

£

£

Emoluments etc

575,935

236,450

6.	Operating profit

The operating profit is stated after charging:

2025

2024

£

£

Other operating leases

307,451

305,168

Depreciation - owned assets

271,912

272,276

Auditors' remuneration

16,000

15,000

7.

Taxation

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

304,051

460,711

Over provision prior year

(99,332

)

(89,326

)

Total current tax

204,719

371,385

Deferred tax

34,350

(12,500

)

Tax on profit

239,069

358,885

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:

2025

2024

£

£

Profit before tax

1,389,579

1,816,338

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

347,395

454,085

Effects of:

Expenses not deductible for tax purposes

4,025

1,422

Capital allowances in excess of depreciation

(13,019

)

-

Depreciation in excess of capital allowances

-

95

Utilisation of tax losses

-

(7,391

)

Adjustments to tax charge in respect of previous periods

(99,332

)

(89,326

)

Total tax charge

239,069

358,885

The over provision re prior years relates to research and development claims.

Research and development claims are expected to be made for future years and will reduce the corporation tax payable for those years.