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of new software to streamline the journey of a customer order from receipt to delivery by replacing a paper-based, outdated and inefficient credit control and logistics process with a paperless IT system.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

Financial Affairs support the Red Rose Award winners' reception Networking photograph

Financial Affairs support the Red Rose Award winners' reception

24 Apr 2025

2

Lancaster University unveils cutting-edge computing and cyber security facilities Head of Lancaster University's School of Computing and Communications Professor Nigel Davies, Chris Ensor, Vice-Chancellor Professor Andy Schofield and Pro-Vice-Chancellor (Engagement) Professor Sarah Kemp

Lancaster University unveils cutting-edge computing and cyber security facilities

24 Apr 2025

3

Northcote announces new owners Alf and Clare Ellis as Lisa Goodwin-Allen returns as chef patron-director Craig Bancroft and Lisa Goodwin-Allen

Northcote announces new owners Alf and Clare Ellis as Lisa Goodwin-Allen returns as chef patron-director

24 Apr 2025

4

Major shareholder makes Inspired takeover bid inspired-500x500.png

Major shareholder makes Inspired takeover bid

23 Apr 2025

5

Nominate your favourite family-run business in Lancashire. Thompsons meeting (1).png.png

Nominate your favourite family-run business in Lancashire.

22 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
LBV122 May/June Launch Event
121 Lancashire Business View Magazine Launch
Networking
21 May 2025

LBV122 May/June Launch Event

Lancaster and Morecambe College, Lancaster, LA1 2TY

08:30 - 10:30

Sub36 Networking
Networking
11 Jun 2025

Sub36 Networking

British Jewellery School, Scorton, PR3 1BA

15:00 - 17:00

Lancashire Net Zero Carbon Conference
Net Zero Carbon Social 1200px 2
Networking
18 Jun 2025

Lancashire Net Zero Carbon Conference

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

08:30 - 13:00

Lancashire Built Environment Conference 2025
BEC 315 X 315 Px
Networking
25 Sep 2025

Lancashire Built Environment Conference 2025

Blackpool Football Club, Blackpool, FY1 6HX

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

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

Advantage: AI – A Workshop for Business Leaders – May 2
EV-land-2025-05B.png.png
LBV Hub Seminars
02 May 2025 - 02 May 2025

Advantage: AI – A Workshop for Business Leaders – May 2

Door4 Office, Burnley Wharf, Manchester Road, Burnley, BB11 1JG

09:00 - 11:00

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

Research and Knowledge Exchange Showcase
13421_research_knowledge_exchange_2025_600x300.jpg.jpg
LBV Hub Awards
07 May 2025 - 08 May 2025

Research and Knowledge Exchange Showcase

University of Central Lancashire , Preston, PR1 2HE

09:00 - 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