Registered number
00657414
J B Armstrong & Co Limited
Filleted Accounts
31 January 2024
J B Armstrong & Co Limited
Registered number: 00657414
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 36,996 36,996
Tangible assets 4 538,842 582,858
Investments 5 43,076 43,076
618,914 662,930
Current assets
Stocks 351,868 337,800
Debtors 6 1,049,193 1,180,279
Cash at bank and in hand 2,607 2,704
1,403,668 1,520,783
Creditors: amounts falling due within one year 7 (497,638) (518,768)
Net current assets 906,030 1,002,015
Total assets less current liabilities 1,524,944 1,664,945
Creditors: amounts falling due after more than one year 8 (201,058) (342,270)
Net assets 1,323,886 1,322,675
Capital and reserves
Called up share capital 3,113 3,113
Revaluation reserve 9 154,902 154,902
Profit and loss account 1,165,871 1,164,660
Shareholders' funds 1,323,886 1,322,675
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K B Armstrong
Director
Approved by the board on 30 October 2024
J B Armstrong & Co Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 2% straight line
Fixtures and fittings 15% reducing balance
Motor Vehicles 20% Straight Line
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 8
3 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2023 36,996
At 31 January 2024 36,996
Amortisation
At 31 January 2024 -
Net book value
At 31 January 2024 36,996
At 31 January 2023 36,996
Goodwill has been written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Motor Vehicles Land and buildings Fixtures and fittings Total
£ £ £ £
Cost
At 1 February 2023 476 537,396 983,063 1,520,935
Additions 0 - - -
Surplus on revaluation - - -
Disposals - - -
At 31 January 2024 476 537,396 983,063 1,520,935
Depreciation
At 1 February 2023 119 142,916 795,042 938,077
Charge for the year 89 10,748 33,179 44,016
At 31 January 2024 208 153,664 828,221 982,093
Net book value
At 31 January 2024 268 383,732 154,842 538,842
At 31 January 2023 357 394,480 188,021 582,858
5 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 February 2023 43,076 - 43,076
At 31 January 2024 43,076 - 43,076
The company holds 20% or more of the share capital of the following companies:

The company owns 100% of the ordinary share capital of J B Armstrong (Retail) Limited and Forestfern Limited. The company owns 100% of the ordinary share capital and 3.5%£1 cumulative preference share capital of M Leavey & Sons Limited.
J B Armstrong & Co (Retail) Limited, Forestfern Limited and M Leavey & Sons Limited are all dormant companies which are registered in England.
The company owns 100% of the share capital of JB Export SRL a company registered in Romania, whose principal activity is property investment, manufacturing and retail.

The following figures have been extracted from the financial statements of the four subsidiary undertakings:
The company holds 20% or more of the share capital of the following companies:

The company owns 100% of the ordinary share capital of J B Armstrong (Retail) Limited and Forestfern Limited. The company owns 100% of the ordinary share capital and 3.5%£1 cumulative preference share capital of M Leavey & Sons Limited.
J B Armstrong & Co (Retail) Limited, Forestfern Limited and M Leavey & Sons Limited are all dormant companies which are registered in England.
The company owns 100% of the share capital of JB Export SRL a company registered in Romania, whose principal activity is property investment, manufacturing and retail.

The following figures have been extracted from the financial statements of the four subsidiary undertakings:
Company Shares held Capital and Profit (loss)
Class % reserves for the year
J B Armstrong & Co (Retail) Ltd Ordinary 100 (43,607) -
Forestfern Limited Ordinary 100 (117,035) -
M Leavey & Sons Limited Ordinary 100 42,857 -
J B Export SRL: Paid up share capital 100 215 -
6 Debtors 2024 2023
£ £
Trade debtors 111,425 46,868
Other debtors 937,768 1,133,411
1,049,193 1,180,279
7 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 88,494 50,042
Trade creditors 307,526 328,572
Taxation and social security costs 72,104 136,392
Accruals and deferred income 28,654 6,000
Other creditors 860 (2,238)
497,638 518,768
8 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 201,058 342,270
9 Revaluation reserve 2024 2023
£ £
At 1 February 2023 154,902 154,902
At 31 January 2024 154,902 154,902
10 Related party transactions
Vision SRL
Joint financial interests of J B Armstrong Limited and K B
Armstrong
Interest free loan for business purposes
Amount due from the related party 127,611 127,611
Bar Humbug Limited
K B Armstrong is a director and has a financial interest
Business loan to Bar Humbug Limited.
This balance has been disclosed as due for repayment after
more than one year.
Amount due from the related party 47,250 47,250
11 Controlling party
The company is considered to be under the control of the directors by virtue of their controlling interest in its issued share capital.
12 Other information
J B Armstrong & Co Limited is a private company limited by shares and incorporated in England. Its registered office is:
Armstrongs Mill
Middleton Street
Ilkeston
Derbys
DE7 5TT
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