| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2026 |
| for |
| Industrial Pumps Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2026 |
| for |
| Industrial Pumps Limited |
| Industrial Pumps Limited (Registered number: 04361775) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2026 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Industrial Pumps Limited |
| Company Information |
| for the Year Ended 31 March 2026 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| Industrial Pumps Limited (Registered number: 04361775) |
| Balance Sheet |
| 31 March 2026 |
| 2026 | 2025 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Industrial Pumps Limited (Registered number: 04361775) |
| Balance Sheet - continued |
| 31 March 2026 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Industrial Pumps Limited (Registered number: 04361775) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2026 |
| 1. | STATUTORY INFORMATION |
| Industrial Pumps Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Goodwill |
| Following the introduction of FRS 102 the company considers that the useful economic life of its existing goodwill is a minimum of 20 years. Therefore from 1st April 2015 the company will amortise the cost over 20 years. |
| Other goodwill is amortised over 10 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. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
| Industrial Pumps Limited (Registered number: 04361775) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2026 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company pays employers gross contributions to staff and directors personal pension schemes. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 April 2025 |
| and 31 March 2026 |
| AMORTISATION |
| At 1 April 2025 |
| Charge for year |
| At 31 March 2026 |
| NET BOOK VALUE |
| At 31 March 2026 |
| At 31 March 2025 |
| Industrial Pumps Limited (Registered number: 04361775) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2026 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2025 |
| Additions |
| Disposals | ( |
) | ( |
) |
| Transfer to ownership | - | 35,525 | 35,525 |
| At 31 March 2026 |
| DEPRECIATION |
| At 1 April 2025 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| Transfer to ownership | - | (2,826 | ) | (2,826 | ) |
| At 31 March 2026 |
| NET BOOK VALUE |
| At 31 March 2026 |
| At 31 March 2025 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 April 2025 |
| Additions |
| Disposals | ( |
) |
| Transfer to ownership | (35,000 | ) |
| At 31 March 2026 |
| DEPRECIATION |
| At 1 April 2025 |
| Charge for year |
| Transfer to ownership | (48,487 | ) |
| At 31 March 2026 |
| NET BOOK VALUE |
| At 31 March 2026 |
| At 31 March 2025 |
| Industrial Pumps Limited (Registered number: 04361775) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2026 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2026 | 2025 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2026 | 2025 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 9) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2026 | 2025 |
| £ | £ |
| Bank loans |
| Hire purchase contracts (see note 9) |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under hire purchase fall due as follows: |
| Hire purchase |
| contracts |
| 2026 | 2025 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| At 31st March 2026 the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £623,409, (2025: £733,429). |
| Industrial Pumps Limited (Registered number: 04361775) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2026 |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2026 | 2025 |
| £ | £ |
| Bank overdrafts |
| Hire purchase contracts | 272,229 | 340,308 |
| Amounts due under the invoice discounting facility are secured by an all assets debenture dated 18 December 2012 in favour of Lloyds TSB Commercial Finance Limited, comprising fixed and floating charges over the undertaking and all property and assets of the company, present and future. |
| 11. | RELATED PARTY DISCLOSURES |
| Industrial Pumps Group Ltd (Parent Company) |
| Monies were loaned between the companies on an interest free repayable on demand basis. |
| The balance owing to the company at 31st March 2026: £Nil, (2025: £18,702) reflected in current assets. |
| 12. | POST BALANCE SHEET EVENTS |
| On 19 June 2026 the entire issued share capital of the company was acquired by River Group Limited, a company incorporated in England and Wales (registered number 16678594). River Group Limited is a wholly owned subsidiary of River Group AS, a company incorporated in Norway, and following the acquisition the company's ultimate parent undertaking is Flow Topco AS, also incorporated in Norway. |
| In connection with the acquisition, the company's invoice discounting facility was repaid and closed, funded by amounts advanced to the company by River Group Limited. Those amounts are recorded as an intercompany loan between the company and its immediate parent undertaking. |
| The acquisition is a non-adjusting event after the end of the reporting period. No adjustment has therefore been made to the amounts recognised in these financial statements as at 31 March 2026. The company has continued to trade normally since the change of ownership and the directors have received confirmation of the continuing support of the new parent undertaking. |
| 13. | ULTIMATE CONTROLLING PARTY |
| The controlling party is Industrial Pumps Group Ltd (parent company). |
| The ultimate controlling party is |