Financial Statements
For the year ended 31 December 2025
Registered number: 04956493
Company Information
Contents
Strategic report
For the year ended 31 December 2025
The principal activity of the Company during the year was the design, manufacture and installation of packaged plant room and integrated energy centres, the supply of pumps, pumping equipment, accessories and expansion tanks to the HVAC, Fire, OEM and end user market.
The Company has earned a profit for the year after taxation amounting to £6,450,784 (2024 - £618,502). The directors do not recommend payment of a dividend (2024 - £Nil).
During 2025, the Company continued to invest in its operations, supporting the achievement of its strategic objectives for the year. These investments contributed to sustained business growth, with overall performance reflecting the benefits of the Company's focused strategy. Market conditions across both UK sectors and key export markets showed notable improvement compared to 2024, which in turn drove a 58.3% increase in Company revenue.
The Company continues to make strategic investments in targeted sectors to drive sustainable growth and closed 2025 with a strong order book, providing a solid foundation for 2026.
The UK business compliments the activities of the rest of the Armstrong group, which operates out of eight countries across five continents.
Key performance indicators used by the Company are as follows:
The Company uses multiple non-financial KPls which include customer net promoter scores, the number of bill of material discrepancies, the amount of non-conformance notices raised and closed as well as labour efficiency and effectivity percentages.
The main business risks are managed by operating to ISO standards for Quality, Environmental and Health and Safety. The Company operates with a global supply chain providing a geographically and technologically diverse supplier base. The Company customer base is also spread across the UK, European and Middle East & African territories which diversifies the risk both economically and politically. As part of a global group employee numbers, skills and knowledge can be utilised to meet local business needs.
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Strategic report (continued)
For the year ended 31 December 2025
Principal risks and uncertainties (continued)
Financial instruments
The Company uses various financial instruments. These include group loans, cash and other items such as trade debtors and trade creditors that arise directly from its operations. The main purpose of these financial instruments is to raise finance for the Company's operations.
The existence of these instruments exposes the Company to a number of financial risks, which are described in more detail below.
The main risks arising from the Company's financial instruments are market risk, cash flow interest rate risk, credit risk and liquidity risk. The directors review and agree policies for managing each of these risks and they are summarised below. These policies have remained unchanged from previous years.
Market risk
Market risk encompasses three types of risk, being currency risk, interest rate risk and price risk. The Company's policies for managing interest rate risk are considered along with those for managing cash flow interest rate risk and are set out in the subsection entitles “interest rate risk" below.
Currency risk
The Company is exposed to translation and transaction foreign exchange risk. In relation to translation risk, as far as possible the assets held in foreign currency are matched to an appropriate level of borrowings in the same currency. Most non-UK sales are in Euros and where possible these are offset with procurement in the same currency.
Price risk
The Company sells its products in a competitive marketplace. Its competitors generally are exposed to the same risks with respect to increasing costs of inputs such as raw materials and wages. To the extent the price of their inputs increase, the Company and its competitors raise prices to cover increased costs.
Liquidity risk
The Company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs.
Liquidity risk
The Company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs.
The Company policy throughout the year has been to ensure continuity of funding through borrowings from its ultimate parent company, S A Armstrong Limited.
Interest rate risk
The Company finances its operations through a mixture of non-interest bearing borrowings from its ultimate parent undertaking. The Company exposure to interest rate fluctuations on its borrowings is managed using both fixed and floating interest rate facilities. The Company regularly reviews interest rates, along with economic trends and indicators to manage the fixed and floating interest rate facilities.
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Strategic report (continued)
For the year ended 31 December 2025
Principal risks and uncertainties (continued)
The interest rate exposure of the financial assets and liabilities of the Company as at 31 December 2025 is shown in the table below. The table includes trade debtors and creditors as these do not attract interest and are therefore subject to fair value interest rate risk.
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Credit risk
The Company’s principal financial assets are trade debtors. The principal credit risk arises therefore from its trade debtors.
In order to manage credit risk, the directors set limits for customers based on a combination of payment history and third party credit references. Credit limits are reviewed by the Company on a regular basis in conjunction with debt aging and collection history. The Company and a number of its subsidiaries also maintain credit insurance over its trade debtors to mitigate credit risk.
There are concentrations of credit risk with exposure being spread over a large number of customers.
Geopolitical and market risk exposure
The Company maintains established sales operations across the Middle East and, as a result, has a degree of exposure to geopolitical developments within the region. In addition, the Company’s global logistics model, which relies on international shipping, creates indirect sensitivity to fluctuations in oil prices, particularly where these influence freight and distribution costs. Recent developments in the region have the potential to introduce volatility in both market conditions and input costs.
At the present time, trading performance in the Middle East has remained resilient, and the Company has not experienced any material disruption to customer demand or order fulfilment. While oil price movements may impact transportation costs, the Company continues to manage these exposures through a combination of operational flexibility and, where appropriate, commercial adjustments.
The situation is being closely monitored by management, with regular assessments of both market demand and supply chain dynamics. Based on current information, the Directors do not foresee a material impact on sales revenue in the region. However, given the inherent uncertainty associated with geopolitical events, the Company will continue to evaluate developments as they arise and will respond accordingly to protect its operational and financial position.
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Strategic report (continued)
For the year ended 31 December 2025
In accordance with section 172 of the Companies Act 2006, the Directors, collectively and individually, confirm that during the year ended 31 December 2025, they acted in good faith and have upheld their duty to promote the success of the Company to the benefit of its members as a whole.
The Directors look to operate the business according to the founding principles that are distilled into three Core Values:
The Directors look to operate the business according to the founding principles that are distilled into three Core Values:
1.Community
2.Service
3.Learning and Innovation
The Core Values are embraced by the directors when undertaking their duties and they actively promote these to employees throughout the Armstrong Group.
Employees
The Company considers the growth and development of its employees to be very important. A dedicated Learning and Development team promote this through the Armstrong Learning Academy, where employees are encouraged to access training courses and materials to promote their learning and development.
The strength of the Company is built on the dedication of its people. The Company considers the interests of all employees when making decisions with the aim to provide stable employment and opportunities for the employees to reach their potential.
The Company regards employee engagement and welfare to be key and the directors actively aim to improve their understanding of employees views and interests alongside the employees understanding of the Company's performance.
Community and Environment
The Company continues to focus on environment and community activity. During the year, the Company continued to support local schools and charities, as well as providing labour and materials to help a local community centre sustainably refurbish their premises.
Armstrong’s commitment to sustainability is articulated in our Planet Proposition charter. This is a global document that encompasses the energy efficient solutions we provide our customers, the energy efficiency of our own plants and our interaction with the communities in which we operate.
In the UK, monitoring our electricity, gas and water consumption on a monthly basis and implementing measures such as LED lighting, adjusting heating and cooling set points and facilitating behavioural change, we’ve reduced our GHG emissions in 2025. We have also generated 198,935 kWh of electricity through our 250kWp solar PV system.
We are ISO 14001 certified at all of our locations and continue to develop innovative energy solutions, as well as producing case studies and white papers to help our customers reduce their environmental impact.
The Armstrong Group continues to invest in Product development, particularly focusing on reducing the lifetime cost of operation through innovative design that reduces energy usage.
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Strategic report (continued)
For the year ended 31 December 2025
Stakeholder engagement (continued)
Customers and suppliers
The Board are committed to developing and maintaining key supplier relationships that includes both our customers and suppliers. The Board always tries to ensure that it has visibility of these relationships at all times so that it is able to these considerations into account when it makes key decisions.
In order to grow the business into new and existing markets, the Company develops and maintains strong client relationships. Customer satisfaction is important to the Company and it actively seeks formal feedback through post project customer questionnaires in order to highlight areas for improvement. Operating a global supply chain means that supplier relationships are critical to meeting our customer needs. We value all of our suppliers and have a number of framework agreements in place with key suppliers to provide transparency and security.
On behalf of the board
................................................
Charles Armstrong
Director
Date:
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Directors' report
For the year ended 31 December 2025
The directors present their report and the financial statements for the year ended 31 December 2025 .
The profit for the year, after taxation, amounted to £6,450,784 (2024 - £618,502 ).
The directors do not recommend payment of a dividend (2024 - £Nil).
The directors who served during the year were:
As at 31 December 2025 the Company is in a net asset position of £9,292,510 (2024 - £2,841,726).
The Company meets its day to day working capital requirements through a combination of its cash balances and advances from its ultimate parent company, S A Armstrong Limited, a company incorporated in Canada.
The directors have prepared forecasts for the period to 31 December 2028. The results of the forecasts anticipate that the business remains a going concern based on its forecasted positive activity levels and the continued support from the ultimate parent undertaking S A Armstrong Limited.
The Company meets its day to day working capital requirements through a combination of its cash balances and advances from its ultimate parent company, S A Armstrong Limited, a company incorporated in Canada.
The directors have prepared forecasts for the period to 31 December 2028. The results of the forecasts anticipate that the business remains a going concern based on its forecasted positive activity levels and the continued support from the ultimate parent undertaking S A Armstrong Limited.
Throughout 2026 and into 2027 and 2028 management expects to maintain, and in some cases improve, the current level of profitability. The Company continues to secure contracts with key customers, demonstrating strong market demand and business resilience.
Significant investments have been made in expanding our workforce to enhance operational efficiencies, optimise current practices, and extend our market reach. This strategic focus on growth and continuous improvement positions the Company well to sustain its financial performance and support its long-term viability.
The directors expect that the present level of activity will be sustained for the foreseeable future.
The Company incurred research and development costs during the year of £237,364 (2024 - £85,550).
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Directors' report (continued)
For the year ended 31 December 2025
The following SECR disclosures present our carbon footprint within the United Kingdom across Scope 1 and 2 emissions. We have followed the 2019 HM Government Environmental Reporting Guidelines and used the GHG Reporting Protocol – Corporate Standard as well as the 2025 GHG UK Reporting Conversion Factors.
The Company has taken the following measures to improve energy efficiency and reduce energy consumption through various UK projects including:
∙Installing of energy efficient LED lighting in office and production areas.
∙We have also generated 198,935 kWh of electricity from our solar system and exported 10% back to the grid.
∙Maintain a sharp focus to reduce our carbon footprint even with our growth through internal initiatives.
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Directors' report (continued)
For the year ended 31 December 2025
The Company maintains established sales operations across the Middle East and, as a result, has a degree of exposure to geopolitical developments within the region. In addition, the Company’s global logistics model, which relies on international shipping, creates indirect sensitivity to fluctuations in oil prices, particularly where these influence freight and distribution costs. Recent developments in the region have the potential to introduce volatility in both market conditions and input costs.
At the present time, trading performance in the Middle East has remained resilient, and the Company has not experienced any material disruption to customer demand or order fulfilment. While oil price movements may impact transportation costs, the Company continues to manage these exposures through a combination of operational flexibility and, where appropriate, commercial adjustments.
The situation is being closely monitored by management, with regular assessments of both market demand and supply chain dynamics. Based on current information, the Directors do not foresee a material impact on sales revenue in the region. However, given the inherent uncertainty associated with geopolitical events, the Company will continue to evaluate developments as they arise and will respond accordingly to protect its operational and financial position.
The auditor, Grant Thornton, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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Directors' responsibilities statement
For the year ended 31 December 2025
On behalf of the board
................................................
Charles Armstrong
Director
Date: 1 October 2026
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Independent auditor's report to the members of Armstrong Integrated Limited
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 the date 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.
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Independent auditor's report to the members of Armstrong Integrated Limited (continued)
Other information comprises the information included in the Annual Report, other than the financial statements and our Auditor's report thereon, including the Directors' report and the Strategic Report. The directors are responsible for the other information. Our opinion on the financial statements does not cover the 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 in the financial statements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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 Directors' report and the Strategic Report for the year for which the financial statements are prepared is consistent with the financial statements, and
∙the Directors' report and the Strategic Report have been prepared in accordance with applicable legal requirements.
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Independent auditor's report to the members of Armstrong Integrated Limited (continued)
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Independent auditor's report to the members of Armstrong Integrated Limited (continued)
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 an auditor’s report 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.
for and on behalf of
Chartered Accountants &
Statutory Auditors
13-18 City Quay
Dublin 2
Republic of Ireland
Date:1 October 2026
Dublin 2
Republic of Ireland
Date:
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Statement of comprehensive income
For the year ended 31 December 2025
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Statement of financial position
As at 31 December 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 October 2026 .
The notes on pages 17 to 32 form part of these financial statements.
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Statement of changes in equity
For the year ended 31 December 2025
Statement of changes in equity
For the year ended 31 December 2024
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Notes to the financial statements
For the year ended 31 December 2025
Armstrong Integrated Limited is a private company limited by shares and incorporated in England and Wales. Its registered head office is located at 1 Wolverton Street, Manchester, M11 2ET.
The principal activity of the Company is that of the design, manufacture and installation of packaged plant room and integrated energy centres, the supply of pumps, pumping equipment, accessories and expansion tanks to the HVAC, Fire, OEM and end user market.
The principal activity of the Company is that of the design, manufacture and installation of packaged plant room and integrated energy centres, the supply of pumps, pumping equipment, accessories and expansion tanks to the HVAC, Fire, OEM and end user market.
2.Accounting policies
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The financial statements are presented in GBP (£) which is also the functional currency of the Company.
The Company is exempt from preparing consolidated financial statements under section 400 of the Companies Act 2006 on the grounds that it is a wholly owned subsidiary and its results are consolidated in the immediate parent company's financial statements. Therefore, these financial statements present the Company as an individual company and not about its group.
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
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Notes to the financial statements
For the year ended 31 December 2025
2.Accounting policies (continued)
Functional and presentation currency
The Company's functional and presentational currency is Sterling £.
Transactions and balances
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Notes to the financial statements
For the year ended 31 December 2025
2.Accounting policies (continued)
Sale of Goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point when the goods are dispatched in accordance with the terms and conditions of sale.
Projects
Turnover from major projects is recognised according to the stage of completion of the contract. The turnover and margin are reviewed monthly and are based on the actual costs incurred to date and the stage of contract completion at the reporting date.
Rendering of services
Turnover from services is recognised at the point at which the service is delivered.
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Notes to the financial statements
For the year ended 31 December 2025
2.Accounting policies (continued)
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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Notes to the financial statements
For the year ended 31 December 2025
2.Accounting policies (continued)
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Notes to the financial statements
For the year ended 31 December 2025
2.Accounting policies (continued)
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, invoice discounting and other third parties, loans to related parties and investments in ordinary shares.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the Statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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Notes to the financial statements
For the year ended 31 December 2025
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Notes to the financial statements
For the year ended 31 December 2025
Analysis of turnover by country of destination:
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Notes to the financial statements
For the year ended 31 December 2025
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Notes to the financial statements
For the year ended 31 December 2025
10.Taxation (continued)
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Notes to the financial statements
For the year ended 31 December 2025
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Notes to the financial statements
For the year ended 31 December 2025
Page 28
Notes to the financial statements
For the year ended 31 December 2025
Page 29
Notes to the financial statements
For the year ended 31 December 2025
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Profit and loss account
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Notes to the financial statements
For the year ended 31 December 2025
Page 31
Notes to the financial statements
For the year ended 31 December 2025
Armstrong Integrated Limited is a wholly owned subsidiary of Armstrong Pumps Limited , a company incorporated in the United Kingdom. The smallest group to consolidate the results of the Company is that headed by Armstrong Pumps Limited .
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