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Registered number: 00946657
J.& B.Electric Power Tool Co.Limited
Unaudited Financial Statements
For The Year Ended 31 January 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 00946657
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 667,046 677,683
667,046 677,683
CURRENT ASSETS
Stocks 5 753,054 834,340
Debtors 6 95,946 96,122
Cash at bank and in hand 486,500 394,666
1,335,500 1,325,128
Creditors: Amounts Falling Due Within One Year 7 (1,191,623 ) (1,166,265 )
NET CURRENT ASSETS (LIABILITIES) 143,877 158,863
TOTAL ASSETS LESS CURRENT LIABILITIES 810,923 836,546
Creditors: Amounts Falling Due After More Than One Year 8 (146,698 ) (157,555 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (106,482 ) (78,537 )
NET ASSETS 557,743 600,454
CAPITAL AND RESERVES
Called up share capital 10 432 432
Capital redemption reserve (429,007 ) (429,007 )
Profit and Loss Account 986,318 1,029,029
SHAREHOLDERS' FUNDS 557,743 600,454
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Page 2
For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr G Heap
Director
3 September 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
J.& B.Electric Power Tool Co.Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00946657 . The registered office is Workwear Outlet, Kent Street, Blackburn, BB1 1DE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
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 that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 4% on a straight line basis
Plant & Machinery 20% on a reducing balance basis
Motor Vehicles 25% on a reducing balance basis
Fixtures & Fittings 20% on a reducing balance basis
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.7. Government Grant
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
2Average number of employees, including directors, during the year was as follows:
2025 2024
Office and administration 23 22
23 22
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4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 February 2024 423,936 691,647 211,446 501,145 1,828,174
Additions - 16,416 124,690 10,788 151,894
Disposals - - (49,990 ) - (49,990 )
As at 31 January 2025 423,936 708,063 286,146 511,933 1,930,078
Depreciation
As at 1 February 2024 207,155 500,094 130,008 313,234 1,150,491
Provided during the period 16,958 41,593 48,424 39,739 146,714
Disposals - - (34,173 ) - (34,173 )
As at 31 January 2025 224,113 541,687 144,259 352,973 1,263,032
Net Book Value
As at 31 January 2025 199,823 166,376 141,887 158,960 667,046
As at 1 February 2024 216,781 191,553 81,438 187,911 677,683
5. Stocks
2025 2024
£ £
Materials 753,054 834,340
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 59,470 62,037
Prepayments and accrued income 36,476 34,085
95,946 96,122
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7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 985,342 1,033,504
Bank loans and overdrafts 44,014 35,120
Other taxes and social security 19,182 13,117
VAT 28,984 716
Other creditors 108,120 77,827
Accruals and deferred income 3,500 3,500
Directors' loan accounts 2,481 2,481
1,191,623 1,166,265
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 146,698 157,555
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2025 2024
£ £
Other timing differences 106,482 78,537
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 432 432
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