JJO plc posts record annual results

By Lancashire Business View

15 Dec 2016

Strategic advice from accountants and business advisors Beever and Struthers helped kitchen, bedroom and bathroom manufacturer J & J Ormerod (JJO) plc to achieve the strongest annual financial results in its 140-year history.

Over the past two financial years, Beever and Struthers has helped JJO to save a total of £68,000 by advising it on maximising the use of Research and Development (R&D) tax credits to claim tax relief on its R&D spending.

For example, the firm with offices in Manchester, Blackburn and London, made JJO aware of its ability to claim for R&D tax relief on costs incurred by the creation of new software to streamline the journey of a customer order from receipt to delivery by replacing a paper-based, outdated and inefficient credit control and logistics process with a paperless IT system.

The new IT system allowed JJO credit staff to handle more orders and introduced a more effective use of the firm’s delivery vehicles - ultimately, increasing operational efficiency, cutting costs and minimising bad debts.

The success of such claims by Beever and Struthers allowed JJO to improve its working capital and culminated in the Bacup, Lancashire-based business founded in 1876 reporting a six per cent increase in turnover to £43.6m and a 21 per cent rise in gross profit to almost £13m in the year ended February 2016.

These record-breaking results translated into a strengthened balance sheet with cash reserves near doubled to £3m and a 32 per cent hike in net current assets to almost £8.5m.

Iain Round, partner at Beever and Struthers, heads the firm’s specialist team providing audit and company tax services for JJO.

He said: “The delivery of our tailored services and in particular, expert advice on maximising the benefits to the bottom line of being able to claim tax relief on R&D tax spend, is reflected in these record breaking results from JJO and we congratulate the business on its historic achievement.

"An increasing breadth and depth of talent at Beever and Struthers is allowing us to fulfil our ambition of achieving better for all of our valued clients."

Stephen Greenhalgh, joint managing director of JJO, said: “The advice given by Beever and Struthers allowed us to get on with running our business, whilst they did the heavy lifting at the audit and ensured we received the allowances the company was entitled too.

“Our success is based on constant reinvestment in all aspects the business, whether that may be infrastructure, state-of-the-art equipment, systems or our people. Clearly the Government intends that such investment in the future is rewarded.” Since being founded in 1876, JJO has grown into a major supplier of kitchens, bedrooms and bathrooms with 360 staff at 1.1m sq ft premises at Colonial House in Bacup.

Latest news

1

PM urged not to retaliate over tariffs Manufacturing

PM urged not to retaliate over tariffs

03 Apr 2025

2

CMAC Group appoints Matthew Ratcliffe as chief operating officer Matthew Ratcliffe CMAC

CMAC Group appoints Matthew Ratcliffe as chief operating officer

03 Apr 2025

3

For sale signs at The Villa Villa Wrea Green has been brought to market (Image credit: The Villa Wrea Green)

For sale signs at The Villa

02 Apr 2025

4

Montane group expands with new Lancashire hub Anthony Rae Scott Murcott And Adam Lee

Montane group expands with new Lancashire hub

02 Apr 2025

5

Trio of wins for Lancaster brand and digital consultancy Tom Grattan MD and Daniel Wallace

Trio of wins for Lancaster brand and digital consultancy

02 Apr 2025

Pc Prestonmacan Gif980x120 March
Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
Lancashire Net Zero Carbon Conference
Net Zero Carbon Social 1200px
Networking
18 Jun 2025

Lancashire Net Zero Carbon Conference

Crow Wood Hotel & Spa Resort, Burnley, BB12 0RT

08:30 - 13:00

CMI Level 5 Management and Leadership Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Management and Leadership Course

Preston Campus, Preston , PR1 2HE

09:00 - 17:00

CMI Level 5 Project Management Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Project Management Course

Preston Campus, Preston, PR1 2HE

08:00 - 17:00

RISE - The Academy for Female Leaders and Managers
WENDY BOWERS RISE Illustrstion copy.jpg.jpg
LBV Hub Seminars
02 Apr 2025 - 08 Oct 2025

RISE - The Academy for Female Leaders and Managers

East Lancashire Chamber of Commerce, Clayton le Moors, BB5 5JR

09:00 - 15:30

Lancashire Business Expo 2025
https---cdn.evbuc.com-images-880395853-4862066883-1-original.20241022-091152-2.jpeg.jpg
LBV Hub Exhibitions
04 Apr 2025 - 04 Apr 2025

Lancashire Business Expo 2025

Sir Tom Finney Sports Centre, Preston, PR1 2HE

09:00 - 15:00

The Business Network Central & East Lancashire
LBV Hub Networking
24 Apr 2025 - 24 Apr 2025

The Business Network Central & East Lancashire

Stanley House, Blackburn, BB2 7NP

11:30 - 14:15

People Power: Exclusive Event Series
Stay ahead in 2025.jpg.jpg
LBV Hub Seminars
29 Apr 2025 - 29 Apr 2025

People Power: Exclusive Event Series

People's History Museum, Manchester, M3 3ER

17:00 - 21:00

Planning for the future + navigating Inheritance Tax changes
Planning for the future + navigating Inheritance Tax changes for website.png.png
LBV Hub Seminars
01 May 2025 - 01 May 2025

Planning for the future + navigating Inheritance Tax changes

Stanley House Hotel, Mellor, Blackburn, BB2 7NP, Blackburn, BB2 7NP

08:00 - 10:30

A night at the races
1.png.png
LBV Hub Dinners / Balls
02 May 2025 - 02 May 2025

A night at the races

Morecambe FC, Morecambe, LA4 4TB

19:00 - 23:59

Amber River True Bearing quarterly investment seminar
LBV Hub Seminars
22 May 2025 - 22 May 2025

Amber River True Bearing quarterly investment seminar

Cottons Hotel & Spa , Knutsford, WA16 0SU

16:00 - 18:00

Liverpool Business Expo 2025
https---cdn.evbuc.com-images-881365363-4862066883-1-original.20241023-085714.jpeg.jpg
LBV Hub Awards
23 May 2025 - 23 May 2025

Liverpool Business Expo 2025

Aintree Racecourse , Liverpool , L9 5AS

09:00 - 15:00

National Centre for Remote and Rural Medicine Conference 2025
Remote and Rural 3.jpg.jpg
LBV Hub Awards
05 Jun 2025 - 05 Jun 2025

National Centre for Remote and Rural Medicine Conference 2025

North Lakes Hotel and Spa, Penrith, CA11 8QT

09:30 - 17:00

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more Lbv121 Online Graphic
Subscribe now

Weekly news bulletin