Registration number: 02939377

J. B. Toolgrinders Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 8

J. B. Toolgrinders Limited

Company Information

Directors

Mr M Bridges Mr P Bridges

Company secretary

Mr P Bridges

Registered & trading office

Unit 2 Northway Lane Newtown Trading Estate Tewkesbury Gloucestershire GL20 8JG

Accountants

Regulatory Accounting Ltd Vicarage Court 160 Ermin Street Swindon Wiltshire SN3 4NE

J. B. Toolgrinders Limited

(Registration number: 02939377)
Balance Sheet as at 31 October 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	4,212	6,199
Current assets
Stocks	5	49,215	49,215
Debtors	6	55,882	58,206
Cash at bank and in hand		91,581	118,048
		196,678	225,469
Creditors: Amounts falling due within one year	7	(23,148)	(30,580)
Net current assets		173,530	194,889
Net assets		177,742	201,088
Capital and reserves
Called up share capital		100	100
Share premium reserve		107,220	107,220
Retained earnings		70,422	93,768
Shareholders' funds		177,742	201,088

J. B. Toolgrinders Limited

(Registration number: 02939377)
Balance Sheet as at 31 October 2025

For the financial year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 July 2026 and signed on its behalf by:
 

......................................... Mr M Bridges Director

......................................... Mr P Bridges Company secretary and director

J. B. Toolgrinders Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

1	General information

The company is a private company limited by share capital, incorporated in England & Wales .

The principal place of business is:
Unit 2 Northway Lane
Newtown Trading Estate
Tewkesbury
Gloucestershire
GL20 8JG
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Basis of preparation

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is the Pound Sterling (£).

Going concern

These accounts have been prepared on a going concern basis. The directors see no material uncertainties about the company being able to operate for the forseeable future.

Revenue recognition

Turnover represents the total invoice value, excluding value added tax, of net sales. Revenue is recognised on completion of the tool processing and delivery to the customer.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

J. B. Toolgrinders Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant & Machinery	15% on cost
Fixtures & Fittings	33% on cost
Leasehold Property	10% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

J. B. Toolgrinders Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

Trade creditors

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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Provisions

Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2024 - 5).

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Other tangible assets £	Total £
Cost or valuation
At 1 November 2024	20,094	7,233	362,512	389,839
At 31 October 2025	20,094	7,233	362,512	389,839
Depreciation
At 1 November 2024	20,094	7,233	356,313	383,640
Charge for the year	-	-	1,987	1,987
At 31 October 2025	20,094	7,233	358,300	385,627
Carrying amount
At 31 October 2025	-	-	4,212	4,212
At 31 October 2024	-	-	6,199	6,199

Included within the net book value of land and buildings above is £Nil (2024 - £Nil) in respect of long leasehold land and buildings.
 

J. B. Toolgrinders Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

5

stocks

	2025 £	2024 £
Other inventories	49,215	49,215

6

Debtors

Current	2025 £	2024 £
Trade debtors	43,321	58,206
Other debtors	12,561	-
	55,882	58,206

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	6,474	13,754
Taxation and social security	10,678	12,454
Other creditors	5,996	4,372
	23,148	30,580

J. B. Toolgrinders Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

8	Related party transactions

Transactions with directors

2025	At 1 November 2024 £	Repayments by director £	At 31 October 2025 £
Mr M Bridges
Director loan account	(2,936)	(812)	(3,748)
Mr P Bridges
Director loan account	(1,436)	(812)	(2,248)

2024	At 1 November 2023 £	Advances to director £	Repayments by director £	At 31 October 2024 £
Mr M Bridges
Director loan account	(2,624)	500	(812)	(2,936)
Mr P Bridges
Director loan account	(2,624)	2,000	(812)	(1,436)