Cost of late tax payments will rise later this month
Making late tax payments to HMRC will get more expensive later this month as the organisation reacts to the Bank of England’s MPC decision to hike interest rate to 4%.
Late payment interest is set at base rate plus 2.5%. Repayment interest is set at base rate minus 1%, with a lower limit – or ‘minimum floor’ – of 0.5%.
These changes will come into effect on 13 February for quarterly instalment payments, and on 21 February 2023 for non-quarterly instalments payments.
A spokesman for HMRC said: “The differential between late payment interest and repayment interest is in line with the policy of other tax authorities worldwide, and compares favourably with commercial practice for interest charged on loans or overdrafts and interest paid on deposits.
“The rate of late payment interest encourages prompt payment and ensures fairness for those who pay their tax on time, while the rate of repayment interest fairly compensates taxpayers for loss of use of their money when they overpay.”
House of Lords ceremony celebrates opening of Nuclear Skills Academy in Derby
Rolls-Royce and the Nuclear AMRC have celebrated the launch of a first-of-a-kind Nuclear Skills Academy at an event in the House of Lords.
More than 150 representatives from Parliament and industry attended to hear how the British engineering firm is investing in the nuclear experts of the future to sustain nuclear capability within the UK’s submarines programme by creating a dedicated pipeline of talent at the start of their careers.
Based in Derby’s former iHub building, the Nuclear Skills Academy is supported by industry and education experts, including the University of Derby, Nuclear AMRC, National College for Nuclear and Derby City Council. This ensures new apprentices have access to the best courses and mentors throughout their apprenticeship.
The launch was supported by Keith Beckett, technical director and deputy CEO of the Submarine Delivery Agency, and Rolls-Royce apprentices, who shared their initial experiences of the academy, the nuclear industry and the benefits of the apprentice route.
Steve Carlier, President of Rolls-Royce Submarines, said: “We were thrilled by the levels of interest in these apprenticeships and the enthusiasm shown by our first intake of students. It highlights how attractive a career in the nuclear sector really is. With the growing demand for clean, carbon-free energy and with our submarines contracts with the MoD likely to sustain us into the next century, this could be a job for life for our new apprentices.
“Having started with Rolls-Royce as an apprentice myself and being born and bred in Derby, the launch to the Nuclear Skills Academy is especially exciting for me. I’m delighted that we are leading the way in developing nuclear talent for the submarines enterprise and proud that it will all be done in Derby.”
The Nuclear Skills Academy has the funding to provide 200 apprentices each year for a decade, with nuclear education across four different courses. The support of key industry organisations and MPs in driving the project forward has been invaluable for Rolls-Royce.
Andrew Storer from the Nuclear AMRC said: “We need to work together to tackle skills shortages which affect the whole nuclear sector. The organisations backing the Nuclear Skills Academy will ensure that apprentices have the best training and support and develop the skills to deliver the UK’s commitments for low-carbon power and national security. As a former Derby apprentice, I am very proud that we are helping set a new standard for training which could be rolled out across the sector.”
Professor Kathryn Mitchell CBE DL, Vice-Chancellor and Chief Executive of the University of Derby, said: “Equipping the future workforce with the skills and knowledge required to assure a pipeline of talent into the nuclear industry is crucial; the University is delighted to be playing a key role in this.
“Derby is a city at the cutting edge of engineering and manufacturing, with an internationally renowned reputation as a centre for industrial innovation. The Academy will further strengthen this and is set to be a game-changer in how we respond, at pace, to the evolving skills needs of the country.”
PM Law Group acquires Derby law firm John M Lewis & Co
The PM Law Group has acquired John M Lewis & Co – a law firm specialising in residential conveyancing, wills, trusts and probate.
The business will continue to trade under the John M Lewis & Co name and remain at their offices on Vernon Street near Derby City centre and will offer a new, wider range of complementary legal services as part of the PM Law Group’s national law firm practices. This will include personal injury, employment and civil litigation/dispute resolution services.
Since PM’s launch in 1989, the business has built a strong reputation for providing specialist legal services to private individuals and families, as well as businesses, landlords and property developers and the acquisition of John M Lewis & Co complements the national reach with local, customer-centric face-to-face services that customers continue to want and need.
PM Law Group CEO Jon Bostock says: “We are really pleased to be able to bring the John M Lewis & Co team into the PM Law Business Group family of businesses. They stood out to us because of the quality of the service that they provide, which has been recognised by the awards they have won.
“We hope to be able to complement and build upon this with our additional range of services as well as tech know-how, which allows us to offer services to customers however they wish – both digitally and locally.“We continue to look to expand our business with either acquisitions or joint ventures in localities we have so far not reached to and through our broad reach have devised models to try and help those firms by reducing their regulatory burden whilst allowing them to keep their independence. We’ve partnered with other firms this way and it’s working very well for all parties so we’re on the lookout for more.”
John M Lewis senior partner Lisa Wills says: “We’re delighted to join the PM Law Group. It was very important to us that we could still build and retain close relationships with our clients and retain that degree of independence. We’re well-known locally so keeping our existing brand name is a big positive for our clients and staff. I’m very optimistic about our prospects and opportunities for 2023 and beyond.”
With its head office and several partner law firms already in Yorkshire, the move into Derbyshire helps broaden the Group’s footprint.
PPC expert joins Nottingham digital agency
A Nottingham digital marketing agency has added an experienced pay-per-click expert to its team – and says it plans to make two more appointments as industry confidence grows.
PPC agency Repeat Digital, based in Bramley Road, Long Eaton, has appointed Layton Weatherall as paid media account manager, responsible for overseeing the day-to-day running of multiple campaigns including paid search and search engine optimisation strategies.
Layton, who has worked in the industry for seven years, including at website providers GoDaddy, is the first of three appointments which the agency plans to make this year as it seeks to grow its services and client base.
The move to appoint three new starters follows a positive start to the year for Repeat, which has begun 2023 in fine form with new client wins and, as a result, is feeling upbeat about the next 12 months.
And its increase in confidence is mirrored across the industry in the wake of the recent influential Q4 IPA Bellwether Report, which said that, despite fears of the UK entering a recession – when companies traditionally trim their marketing budgets – the amount of money spent on marketing rose by 2.2% in the last quarter of last year.
Rob Sherwood, commercial director at Repeat Digital, said: “We’re extremely pleased to welcome Layton to Repeat Digital. He brings with him a huge amount of experience, especially in an account management role, and his ability to liaise with clients is really important for us.
“There is no doubt that he is a strong addition to our team and we are now looking to recruit two more team members. There was a dip in confidence at the end of last year, but there is a real bounce-back feeling in the industry now and we’re feeling upbeat about this year.”
Layton said: “I am thrilled to have joined Repeat Digital. I am very excited to be part of such a great team and to have the opportunity to work alongside some brilliant minds.
“I’m looking forward to continuing the fantastic work we do for our clients and I really appreciate having been made so welcome over the last few weeks.”
Airport partners with SignLive to offer British Sign Language option
East Midlands Airport has joined forces with the online interpreting service SignLive to provide Deaf customers with interpretation in British Sign Language when using and contacting the airport.
The new service enables customers who want to communicate in BSL to connect via video with a certified interpreter who can provide two-way translation between the customer and an airport team member.
Customers can log-on to the SignLive app on iOS, Android, or a web browser, and find East Midlands Airport in the Community Directory to use the service.
Mike Grimes, Director of Customer Services and Security, said: “We want all passengers to enjoy their experience of travelling through EMA, and no one should ever feel excluded from accessing any of our services or facilities. We’re delighted to announce the introduction of the SignLive app, which will help our Deaf passengers and is another illustration of our commitment to removing all barriers to travel.”
Christiane Link, chair of EMA’s Accessibility Advisory Group, said: “Being able to use BSL when communicating with the airport team will enhance the customer experience of Deaf customers using East Midlands Airport. It’s one of many initiatives the airport implements after consulting with the advisory group and listening to its disabled customers.”
British Sign Language is a visual language using gestures, facial expressions, and body language. Sign Language is used mainly by Deaf people. According to the census 2021 data, the areas near East Midlands Airport have the highest percentage of people with BSL as their main language across England and Wales. The Royal School for the Deaf is situated in Derby, and Derby has an active Deaf community.
Purpose Media makes senior hire
Full service marketing agency Purpose Media has further strengthened its team following the appointment of Lauren Sherwin as a senior account manager.
Lauren, who now lives in Derbyshire, was previously based in Nottingham and worked for a global creative agency, as a production account manager. The agency specialises in designing packaging.
In her new role, Lauren will be responsible for a variety of clients in the retail, manufacturing and sport sectors, helping them to define their marketing strategy, target audiences and marketing tactics. Following this analysis, she will coordinate with the client and other Purpose Media specialists to deliver new websites and content/SEO strategies, branding projects, video and social media schedules and email marketing campaigns.
Commenting on joining Purpose Media, Lauren said: “After coming back to the UK after living in America for a year, I was looking for a role in which I could really make my own and have the opportunity to thrive. Having come from a creative background I was impressed by Purpose Media’s reputation and its positioning to engage audiences, inspire customers and more importantly deliver a return on investment.”
CSR is no longer a box-ticking exercise, says recruitment firm boss
A boss at recruitment firm Sellick Partnership has urged fellow Marketing Derby Bondholders to back charities as a way to boost their bottom line and help worthy causes in the process.
Nikki Kinsey, group director at the Pride Park firm, believes businesses should strongly consider adopting a charity of the year to help fulfil their corporate social responsibilities.
She said: “CSR has become critically important for businesses in the contemporary world, with companies who do not place value on this side of corporate life risking being left behind, for example, by employees for whom volunteering, reducing environmental impact and giving back are increasingly important.
“Another factor is the importance of CSR to public sector organisations, with tangible social value now accounting for 10 per cent of the weighting when propositions are evaluated.”
In its case, Sellick Partnership has backed the memory-making charity me&dee for the past eight years.
She said: “I got involved with me&dee when I was a judge for the Derbyshire Live awards.
“Sellick Partnership was looking for a local charity to support. Since then, I’ve been an ambassador for the charity and then I became a trustee – in fact I’m the longest standing one!
“At Sellick Partnership I’m the director responsible for tenders and bids, and a big part of that work is about your CSR policy, or how you give back. This is no longer merely a box ticking exercise for companies. It’s about the added value that you can demonstrate.
“Having a charity that we support is actually really important for us as a business as it demonstrates that responsibility. It’s very helpful when you’re applying for awards, for example.
“And consumers are also very interested in a company’s CSR. There has been compelling research proving that a huge proportion of customers would prefer to buy from companies committed to making the world a better place.”
Digital High Street Adviser offers Rushcliffe firms advice about boosting online revenue
Rushcliffe’s new Digital High Street Adviser is helping West Bridgford and Rushcliffe-based businesses to develop their digital offer, offering wide ranging business advice to complement their in-person sales at the Borough’s retail premises.
Steve Phillips from East Midlands Chamber is an experienced Business Adviser contracted by Rushcliffe Borough Council to deliver the project in the Borough and courtesy of UK Shared Prosperity Funding.
The authority is one of the first in the region to use the funding, aware of some impact on the recent retail climate in West Bridgford and responding to the pressures high street businesses are currently facing.
Steve said: “I’ve met and chatted with many business owners across Rushcliffe already and it’s heartening to see where we can find ways to maximise their online presence even further and ultimately raise revenue.
“I refer businesses to our specialist colleagues, tailoring owners’ needs to particular support and advice they need in their sector.
“Business owners are exceptionally positive here in the Borough and we want to reach out even more, assisting them in this currently unpredictable economy by offering expert insight.”
The project runs until June with initial contact and adviser visits from Steve made to all participating businesses by the end of March.
Cllr Abby Brennan said: “We are focussing our energy on supporting local businesses in West Bridgford and across the Borough, listening and responding in as many ways as we can such as this digital project with local business owners, Steve and the Chamber.
“Maintaining our vibrant high streets is a priority for us and we know the importance of our independent businesses. We are here to listen and will be flexible in responding to their needs, very much aware owner’s skills needs continue to change quickly.
“The outlook in West Bridgford is positive and there is still considerable interest from businesses coming in here.
“We’re exploring a study of our town centres that will look at what opportunities there are to help shape the future of our high streets.”Businesses wishing to contact Steve directly can complete an online expression of interest form over the phone 0330 053 8639 or email steve.phillips@emc-dnl.co.uk
The Digital High Street Adviser project has received £25,000 from the UK Government through the UKSPF.
Long Tall Sally signs Loughborough kit sponsorship deal
Specialist tall clothing retailer Long Tall Sally will be Loughborough Lightning Netball’s headline sponsor for the 2023 Netball Super League season.
The agreement will see Long Tall Sally become an integral part of Lightning, including main kit sponsors for both the club’s home and away dresses.
Long Tall Sally will also sponsor Lightning’s player of the match awards as Vic Burgess’ side embark on what is sure to be another season of high drama in the Netball Super League.
Lightning, who have been members of the Super League since its inception in 2005, boast a squad full of international talent and emerging future stars of the sport. Lightning were crowned champions in 2021 and finished runners-up in 2022.
Jo Simpson, Commercial and Facilities Director at Loughborough Sport said: “It is really important that we have the right partners to work with our teams and this fantastic new partnership is exactly that. Long Tall Sally is a brand that resonates with our players, staff, and fans, bringing outstanding fashion to tall women.
“Our Lightning team showcases the very best in female sport, bringing together international superstars, live Sky Sports coverage, and a large fan base. The 2023 Netball Superleague season is set to be the most exciting one yet and I can’t wait to see both our Lightning team and our new partnership succeed at the highest level.”
Leigh Porter, Commercial Director for Long Tall Sally said: “We are proud to be associated with a such a successful Netball Super League side and we are looking forward to supporting the team in helping them achieve their objectives for the new season.
“The whole Loughborough set up and philosophy is very inspiring, we share many values around striving for excellence and being the best so we also can’t wait to get going and for the relationship to go from strength to strength.”
Accountancy firm makes duo of deals
Accountancy firm Cooper Parry (CP) has started 2023 by announcing a duo of acquisitions.
The Derby-headquartered firm has snapped up ihorizon – one of the UK’s leading early stage accounting players focused solely on the tech startup ecosystem.
In a second deal, Acclivity, a boutique advisory firm specialising in accountancy, tax and consultancy to entrepreneurs and high growth early stage businesses, has also merged with CP.
Together, the two deals create an immediate platform for CP’s Tech & High Growth team to provide full support to early stage startups as well as to its existing portfolio of 200+ post Series A scaleups.
The additional 40+ specialists mean that CP’s dedicated THG team has grown from a standing start to over 100 people strong in just two years. Across the firm’s UK locations, the talent headcount is now 535+.
Ade Cheatham, Cooper Parry CEO, says: “These two deals reinforce our determination to disrupt the Mid-tier like no other. We’ve been bold with our ambitious growth plans and these two high quality firms give us an amazing start to the year. The culture and talent within the firms are a great fit for CP. They also add a brilliant new dynamic to our fast-growing presence in the THG space.”
Steve Leith, head of CP Tech & High Growth, says: “Bringing ihorizon and Acclivity into CP means our specialist team can now deliver a full life-cycle solution from startup through scaleup and into exit. There’s no other equivalent team in the Mid-tier or the Big 4 operating at this scale and so deeply inside the high-growth ecosystem. Startups will be able to make the seamless transition from a specialist digital-first solution into full service scaleup support specifically designed for venture stage companies.”
Pratik Sampat, ihorizon CEO, adds: “Everything felt right about joining Cooper Parry. The CP team is already well established in the market supporting scale-ups and we have a shared vision to create the go-to team for Founders and CFOs of high potential and high-growth companies. This coming together is great news for our team and our clients.”
Asif Ahmed, ex-founder, Acclivity, now head of Early Stage, CP Tech & High Growth, says: “Given the number of clients we’ve seen transition from Acclivity’s early stage portfolio into CP’s specialist scale-up team, it was a no-brainer to join forces to create a market-leading proposition. It means early stage companies don’t have to change relationships as they scale and as their finance challenges become more complex. It’s a win, win.”
Building next to where King Richard III was discovered hits the market
A building and car park in Leicester’s most famous and historical location where the remains of King Richard III were discovered in 2012, will go to auction on 15 February 2023.
The Grey Friars building is famous as the site of one of the most remarkable archaeological detective stories ever told where, following a dig in the adjoining car park, the remains of King Richard III were uncovered, 527 years after his demise at the Battle of Bosworth in 1485.
Following his death, King Richard’s body was brought back to Leicester to be put on public display to prove that he was truly dead. The King’s body was subsequently given a simple Christian burial in the choir of the Grey Friars church. By the mid-20th century, what had once been a religious friary had become a site for a school, council offices and a car park.
The Grey Friars commercial/residential property development is Grade II listed. It is located in the heart of the Old Town area, one of the most attractive and historic areas of Leicester, on the corner of Friar Lane and Grey Friars, and near to Leicester Cathedral, Leicester Guildhall, Wygston’s House, St Martins House and the King Richard III Visitor Centre.
Sir Peter Soulsby, City Mayor, said: “The exact location of where King Richard III was discovered is now incorporated as part of our successful visitor Centre, however the remainder of the site has continued to be used as a working car park to this day.
“The Grey Friars building has so much history and it’s a stunning building that will attract the attention of commercial developers who may convert the building for office, hospitality, or residential premises. Whilst the building is part of our history and heritage, I’m looking forward to seeing the next stage of its evolution.”
Mike Denby, director of Inward Investment, said: “We have seen significant interest in the site from a range of developers, keen to breathe life into the former council offices. Whomever is fortunate to secure the building at auction has a unique story to tell about the site that will last for generations to come.”
Kal Sangra, director of Shonki Brothers, said: “It is a pleasure to include Grey Friars in our 15 February auction. This iconic property offers a unique development opportunity in a prime Leicester city centre location adjacent to the King Richard III Visitor Centre. There is potential for a number of different uses including commercial, hotel, mixed use and residential.”
Whilst the Grey Friars building may have a number of uses, subject to planning, the car park itself is a Scheduled Ancient Monument, meaning that it is ‘a nationally important archaeological site that has protection against unauthorised change’.
Midlands Heart appoints former housing minister as next chair
A provider of affordable homes has appointed former housing minister Lord Ian Austin as their next chair following a four-month process. John Edwards, who has served as chairman of Midland Heart since 2014, will stand down having served a maximum nine year term in post in September 2023.
Lord Austin, who was also previously Minister for the West Midlands, will take over as chair of Midland Heart in September and will attend Board meetings in an observatory capacity until then.
The former MP for Dudley North will be returning to his roots having previously worked for Focus Housing, one of the organisations that merged to create Midland Heart in 2006.
Lord Austin also spent six years working at the Treasury as an adviser to Chancellor Gordon Brown. He currently serves as a non-executive director at Homes England and as the Prime Minster’s Trade Envoy to Israel as well as advising the Richardson Family investment business RCL Partners.
John Edwards is the former Chief Executive of Advantage West Midlands and the Rural Development Commission, chair of the Dudley Group of Hospitals and was awarded his CBE for Services to the Rural Economy in 2008.
Midland Heart is currently completing the process of recruiting to three further board positions including their senior independent director and will announce who has been successfully appointed to these roles in due course.
John Edwards CBE, current chair of Midland Heart, said: “It is important that having had a long period of stability on the Board of Midland Heart that we make the changes we need to make this year in a thorough and well-planned way.
“The first part of this has been to ensure that we give the next chair a significant amount of time to learn everything they need to about our customers, business, and colleagues. Having worked alongside Ian when he was a Minister and I ran our regional development agency I know he will bring a great understanding of the sector and provide strong stewardship for the organisation.”
Glenn Harris, Chief Executive of Midland Heart, said: “On behalf of everyone at Midland Heart I congratulate Lord Austin on successfully being appointed as our next chair. Through his time as Housing Minister, his role with Homes England and having worked for one of our legacy organisations Ian has seen all sides of the housing sector and understands the importance of making every single home a decent, safe, and secure place to live.”
Lord Austin, incoming chair at Midland Heart, said: “I am delighted to have been appointed the next chair of Midland Heart, one of the region’s and country’s leading housing providers.
“John, Glenn, the current Board and Executive team alongside all other members of Midland Heart staff have done a fantastic job of steering our organisation through significant challenges including a four year rent cut and are ahead of other housing associations on the challenges of the future, having delivered the UK’s first homes to meet the Government’s Future Home Standards and undertaken significant retrofit work to their older homes.
“I want to support the Midland Heart team in providing a first-class service to its customers and I look forward to learning more about the business over the next nine months and making sure that we continue to provide great quality homes and services to our customers.”
DMU teams up with clean tech company to tackle carbon emissions
De Montfort University Leicester (DMU) has teamed up with a tech company on a new project which could ultimately help cut energy bills and implement large-scale clean energy use.
Cambridge Cleantech company Advanced Infrastructure is partnering with De Montfort University Leicester (DMU) through a Knowledge Transfer Partnership, which enables a business to bring in new skills and the latest academic thinking to deliver a specific, strategic innovation project.
Advanced Infrastructure develops and provides spatial analytics and digital twins for the energy transition, helping local authorities, distribution network operators and consultants to plan the rollout of low carbon infrastructure.
As part of the 18-month project, Advanced Infrastructure has welcomed researchers Pardis Sheikhzadeh, a science and engineering postgraduate from the Shahid Beheshti University in Iran and Nick Hay a science and civil engineering postgraduate from University College London.
Pardis has joined Advanced Infrastructure as an Energy Systems Modelling Engineer, which will involve working with the data team to develop energy forecasting tools accounting for the change in customer demand due to electric vehicles and electric heating.
Also working within the data team, Nick joins as a Building Physicist who will develop building-level archetypes that can be used in energy system modelling, as well as building a prototype that is able to classify a set of buildings by age, size and fabric.
The duo will be responsible for delivering data structures that link energy and building stock models.
Data visualisations produced by the project will help speed up the numbers of Smart Local Energy Systems (SLES) being created. These are cleaner, lower carbon alternatives to the current centralised grid system, which distributes gas and electricity to homes and other consumers.
The idea behind SLES is to create a series of localised networks using more low carbon energy. For example, wind and solar electricity can be used more effectively through demand management. Electric cars could return stored power to the local grid at times of high demand, reducing fossil fuel gas generation.
For SLESs to grow and multiply, energy network operators need access to data and analysis tools to help them plan future projects. This KTP will develop advanced data aggregation techniques that overcome the issues with problematic data sets that exist at the moment.
Supported by Innovate UK, the KTP team leading the project include Advanced Infrastructure’s co-founder and CEO Christopher Jackson alongside Andrew Wright, Associate Professor in Building Energy Physics and Darsheet Chauhan, Knowledge Exchange office at De Montfort University.
Jackson said: “The past year has been a rapid period of growth as we build both our capabilities and headcount and we are thrilled to be in a position where we can now welcome two very talented postgraduates to join the team at Advanced Infrastructure.
“The scope of work that the KTP will involve over the coming 18 months will not only enable solutions to be created that tackle imminent issues we are facing off the back of the EU and UK’s targets of achieving net zero but also enables the research to be utilised by academics at the university moving forward.”
Darsheet Chauhan, Knowledge Exchange officer at DMU, added: “In order to achieve the targets of net zero, we need to think bigger and move from smaller, isolated projects to connected, transformational changes that impact the whole energy system.
“Making it easier to deliver greener energy systems will ultimately mean lower consumer costs as well as benefits for us all in helping the climate emergency.
“We are delighted to have been awarded the opportunity to work alongside our partners at Advanced Infrastructure Technology Limited to deliver a data system that could be a step change for the energy industry.”
The additional two KTP researchers now bring Cambridge headquartered Advanced Infrastructure’s total headcount to 26 employees who work across four countries worldwide.
Advanced Infrastructure provides GIS tools, datasets and APIs to support energy planning and carbon optimised energy use.
Thousands of East Midlands firms get government loans of more than £9,000
More than 5,600 firms in the East Midlands have been given government loans averaging £9,200 under the Start Up Loans scheme.
The scheme has recently given its 100,000th loan since the scheme was established in 2012, bringing the total support given to firms nationwide to more than £941 million, including £51.6m in the East Midlands.
The scheme, administered by the British Business Bank, offers financial support, guidance, and advice to entrepreneurs looking to start their own business.
Business Minister Kevin Hollinrake said: “We know how important small businesses are to our communities, creating jobs, growth, and opportunities, and that is why we are backing them all the way to not only start up, but to scale up.
“As a former business owner, I know how difficult it can be to get your business off the ground, which is why I’m incredibly proud that Government-backed Start Up Loans have helped 100,000 aspiring entrepreneurs to make their dreams a reality.”
Of the total of more than 100,000 loans, 40 percent have gone to women and one in five to people from black, Asian, and other ethnic minority backgrounds. The top five local authorities by loan volume and value are Birmingham, Leeds, Cornwall, Hackney in East London and Manchester, demonstrating the impact of Start Up Loans across the UK. Richard Bearman, Managing Director, Start Up Loans said: “Start Up Loans supports people across the UK who are looking to start their own businesses and passing our one hundred thousand loan milestone is an amazing achievement that has been ten years in the making. We could not have achieved this without the dedicated support of our network of UK delivery partners and in-house team, and I’d like to take this chance to thank them for everything they do to make our work possible.” The Start Up Loans programme provides personal loans of up to £25,000 to aspiring businesses while also providing dedicated mentoring and support to each recipient. The goal of the scheme is to make sure that viable start-ups and early-stage businesses have the finance and support they need to thrive. Funding for the programme comes from the Department of Business, Energy and Industrial Strategy and is administered by the British Business Bank.University of Nottingham-led projects receive share of £10m to bring clean aviation closer to reality
Several projects led by the University of Nottingham’s Institute of Aerospace Technology (IAT) have received a share of ten million pounds to fund research into the future of net zero aviation.
HECATE, NEWBORN and HERA are all part of the Clean Aviation Joint Undertaking, the EU’s leading research and innovation programme for making the aviation industry ready for a sustainable future. The projects build on the significant outcomes delivered by the University of Nottingham in the development of electrification technologies in recent years.
Professor Serhiy Bozhko, director of the IAT at the University of Nottingham, said: “The aerospace industry hasn’t really changed since the jet engine revolutionised air travel in the 1950s. Therefore, technologies that will reduce our reliance on fossil fuel and improve the efficiency of flight are of ultimate importance to help us deliver the next great breakthrough in disruptive technologies.
“We hope to have a major impact on the future of aviation through our involvement in these new, ambitious projects.”
Aviation needs to meet the ambitious targets of the European Green Deal, ultimately reaching climate neutrality by 2050, which means a step change is required to significantly reduce fuel burn. For HECATE, the University of Nottingham team will be working on the high power, power electronic converters required for the move towards hybrid-electrical aircrafts – including digitising a design process that will lead to the development of technology bricks.
NEWBORN intends to bring aviation graded fuel cells fed by liquid hydrogen into the market, for use in large, turbine-powered aircrafts, as soon as is safely possible. It will also address high power density high voltage energy conversion, propulsion systems, and the next generation of microtube heat exchangers – with the ambition of achieving an overall propulsion system efficiency of 50% by the time the project ends in 2026. The University of Nottingham will be demonstrating an innovative electrical drivetrain with electrical machine and power electronics reaching a step change in power density and efficiency compared to state-of-the-art solutions.
Finally, HERA aims to cut greenhouse gas emissions and develop a brand-new aircraft. At a size of approximately 50 to 100 seats, the aircraft will be ready for entry into service by the mid-2030s and will include hybrid-electric propulsion using batteries or fuel cells resulting in up to 90% lower emissions while remaining fully compliant.
A research team of experienced academics, researchers, engineers and technical and professional staff will be spending the next three years working alongside the principal investigators for the projects – Serhiy Bozhko, Tao Yang and Pat Wheeler – and industry partners to bring the projects to fruition.
Professor Pat Wheeler, global director of the Institute for Aerospace Technology at the University of Nottingham and principal investigator for HECATE, said: “We are delighted to be so involved in these Clean Aviation projects, which follow on from our work in the Clean Sky JTI programmes, which have received more than £60 million in funding, over the last 15 years.
“Our involvement in this project allows us to continue our world leading work on large power electronic converters and the vision of electric propulsion systems, as part of the solution to net zero flight, using the superb facilities of the recently opened Power Electronics, and Machines Centre Building and the Aerospace Technology Centre.
“Winning these Clean Aviation projects is testimony not only to our technical work, but also all the work of our Institute of Aerospace Technology in promoting and managing the university’s ongoing aerospace profile.”
Professor Chris Gerada, technical director for DER-IC’s Nottingham Drive Specialist Services and lead for the university’s strategic research and innovation initiatives in the Faculty of Engineering, said: “These projects will enable the University of Nottingham to exploit our unrivalled facilities and capabilities in electrification, to make meaningful impact for a future sustainable aviation industry. These projects will see our researchers work alongside more than 20 other leading organisations across Europe to develop world leading solutions at the pace needed.
“We have invested in manufacturing and testing facilities over the past five years to support the effective development of MW-class electrical solutions and are committed to retaining the university’s internationally leading position in net zero aviation and will continue to invest in its excellent people and infrastructure.”
HECATE and NEWBORN will also benefit from a six-figure contribution from the University of Nottingham Italy (UNIT) – an independent research venture based in the Campania region.
Proposals to be considered for conversion of council offices into new hotel
Following the recent success in securing a £14 million investment through the Levelling Up Fund, Melton Borough Council’s Cabinet is due to consider another sizeable investment opportunity which will support the town’s economy.
At their meeting on Wednesday 8 February, the Council’s Cabinet is due to consider a report setting out the opportunity to convert part of their Parkside offices into a new 65 bed hotel.
If the Cabinet confirm their support to the principle of the proposed redevelopment, work would then begin to formally and fully test the implications and to prepare a detailed business case over the next 12 months.
Cllr Joe Orson, leader of the Council, said: “The recent success of Levelling Up funding and the UK Shared Prosperity Fund allocations will see millions of pounds of investment into the town centre over the next couple of years. Combining this with an increased hotel capacity in the heart of Melton Mowbray, we can attract over 28,000 additional visitors to the area each year, increasing footfall in the town and spending at local businesses and visitor attractions.”
Since the pandemic, the adoption of the Council’s hybrid working model, and the vacation of space previously occupied by Leicestershire County Council, less office space is required at the site. Therefore, the provision of a hotel on part of the site has the potential to reduce costs to the council and provide a further significant boost to local tourism and the night-time economy, whilst the Council maintains a strong and visible presence in the town.
The proposed redevelopment would see the Eastern side of the building, which includes the current reception area, civic rooms and registrars remain in its current configuration. Office space would remain available for the employees and partners on the upper floors and the ground floor would continue to be accessible to customers to visit the council and access services. Under the initial proposals the Western side of the building would be converted into a 65 bed hotel.
The council would maintain ownership of the building, leasing the space to a company who would run and manage the hotel for thousands of visitors to stay each year.
Cllr Rob Bindloss, portfolio holder for growth and regeneration, stated: “The Council is committed to investing in the town centre and boosting tourism to attract more people to spend time and money in Melton. During the consultation for the Town Centre Vision last year, residents and partners raised the issue of lack of available hotel rooms in the town to allow event organisers and coach operators to find suitable accommodation in the town centre without having to stop in Nottingham or Leicester.
“The Council is very keen to maximize the benefits this could bring to the town’s economy and so is not proposing to include café or restaurant provision with the hotel to encourage visitors to use the facilities in the town, which could see an additional £2 million each year being spent in night-time economy.”
Following the Cabinet decision, if approved, the council would undertake all the necessary financial and legal assessments, as well as a procurement exercise to identify a suitable hotel operator and develop a detailed business case.
Once concluded, the Council’s Scrutiny, Cabinet and Full Council would review the detailed proposals put forward, considering the financial implications, risks and benefits involved, before making a final decision whether to go ahead with the proposals.
Council buys Buxton shopping centre
High Peak Borough Council has bought The Springs shopping centre in Buxton – the catalyst that will kick-start the redevelopment of the town centre and a key milestone in the Future High Streets project.
The purchase means the Council has control of the building and the associated land and can get on with delivering the much-anticipated enhancements to the area in partnership with the local community and businesses.
The Council’s successful bid to the Future High Streets fund (FHS) saw the proposals awarded £6.6m – 69% of its original bid. As a result, the Council is topping up the total by investing a further £4.2m from its budgets to deliver improvements to the main commercial part of the town to complement and enhance the heritage and cultural offer which draws people to Buxton.
Council leader, Councillor Anthony Mckeown, said: “Town centres across the country face huge challenges and Buxton is no exception. To reverse that trend we’re all agreed that Buxton town centre needs investment and improvement to create modern, fit for the future places for living, working and enjoying leisure time.
“That’s what townspeople and businesses have told us they want and it’s why we made our successful bid to the Future High Streets fund.
“The hard truth is that The Springs as it stands now is not working for our town and the community. Buying the shopping centre puts the Council and the local community in control so we can work together to drive this regeneration forward.
“Now that this acquisition is complete, we’ll be coming back to our residents, businesses and partners to further shape our shared vision for a rejuvenated town centre.”
Following the funding announcement at the end of 2019, over 800 people took part in public consultation events to help shape the proposals included in the vision masterplan. Stakeholders, including civic groups, partners and the voluntary sector, have also been involved in discussions since the early stages.
Schemes to be delivered as part of the FHS project include:
· New homes
· New office space
· Converting the upper floors of buildings
· Public realm enhancements including wayfinding and street furniture
· Pedestrian and cyclist accessibility improvements
· Gigabyte infrastructure
Councillor Damien Greenhalgh, deputy leader and executive councillor for regeneration, tourism and leisure, said: “We want our town centres and high streets across the High Peak to thrive and this significant investment in Buxton will breathe much-needed new life into the Spring Gardens area.
“It’s such an exciting project to be involved in and we’ve reached a major milestone by buying The Springs – it’s the catalyst for turning our vision into reality.
“These plans have already been shaped by public consultation to reach this stage and we will be doing plenty more consultation as the details emerge so everyone can feel involved in a once-in-generation opportunity to transform their town.”
The Council was supported in the process of purchasing the shopping centre by the law firm Browne Jacobson LLP.
Partner Thomas Howard said: “We are proud to have worked with the Council to acquire this key site in their regeneration ambitions for Buxton. Having been involved since heads of terms were being negotiated I’m delighted the Council has reached this important milestone.”
Firms offered free post-Brexit regulation advice by Trading Standards experts
Nottinghamshire businesses have until the end of March next year to get free bespoke support and advice from Trading Standards experts to help them negotiate complex legal requirements in a post-Brexit economy.
As experts in compliance and legislation, Nottinghamshire’s Trading Standards officers have the specialist knowledge to help businesses keep up to date with their latest regulatory requirements, including areas such as product safety, product labelling, food safety and staff training. They can provide bespoke support to local firms to ensure they don’t get caught up in compliance red tape.
Councillor John Cottee, Chairman of the Communities Committee said “Our Trading Standards officers are here to support local businesses. We want to help Nottinghamshire firms thrive and succeed, which is why we are offering this free specialist support. By taking advantage of the package available, Nottinghamshire businesses can ensure they get things right, so they can be confident they are marketing their products and services correctly.
“It also means that firms will avoid potentially costly corrective action that might be needed as a result of non-compliance with post-Brexit legislation. By helping firms meet their regulatory requirements we will also create a safer community, so consumers can be assured that the products and services they buy are safe.”
Businesses can find out more and apply for the free support by completing a ‘Business Advice Request Form’ on the Nottinghamshire Trading Standards website: Free Trading Standards Business Advice | Nottinghamshire County Council. After filling out this simple form, the business will be contacted by Nottinghamshire Trading Standards within one working day.
Major plans for Grimsby leisure development approved
The planning application for a new market hall, a cinema and other leisure facilities at the Western end of Freshney Place in Grimsby has been approved in today’s Planning Committee.
Cllr Philip Jackson, leader of North East Lincolnshire Council, said: “This is good news, and we can now press on with our major plans to improve the town centre, to make them more attractive for people to live and work in.
“We have been working in the background with professional advisers to look at the stores within both Freshney Place and the market that are likely to be affected, and have been having discussions with them individually about potential relocation within the centre while the works are ongoing.
“We are also looking at how we can use any empty space within Freshney Place in different ways – potentially bringing more of a community focus to the centre to help balance out the changes to retail habits.”
The leisure development will house a new cinema, with local and regional operator Parkway Entertainment Group coming in as an anchor tenant and pledging to provide a great venue to complement its offer in Cleethorpes.
The plans also feature a remodelled entrance to the centre, which will be lined with units for leisure and eateries, and an entrance to a new and transformed Market Hall.
Work to deliver the scheme is likely to begin in the summer, initially stripping out vacant units before demolishing the former BHS building in early 2024 to make way for the new market hall.
The market will continue to operate from its current base until the new market has been built.
Leicester City chairman relieves Club of outstanding debts to parent company
Leicester City chairman Aiyawatt Srivaddhanaprabha has relieved the Club of its outstanding debts to its parent company, King Power International.
Over £194m in loans and related interest has been capitalised into equity issued to King Power International Co Limited (KPI), which is wholly owned by the Srivaddhanaprabha family.
These loans have been provided by KPI to the Club over the last four years to fund the construction of the Club’s world-class new training ground at Seagrave and to continue to support the Club’s investments into its squad and Women’s football during the COVID-19 pandemic. Their conversion into equity serves to strengthen the Club’s balance sheet, reduce its interest costs, and provide further evidence of King Power International’s commitment to supporting the Club’s long-term sustainability.
It is the second time such a process has been undertaken since the family took ownership of Leicester City in 2010, having completed a £103m debt-to-equity transfer in 2013. In both cases it has ensured that all existing shareholder investment in the Club will not be carried forward as debt.
Leicester City chairman Aiyawatt Srivaddhanaprabha said: “Maintaining long-term stability is vital for sustainable growth and a fundamental principle that has always guided our investments in the Club’s future. We want to make sure we continue on that path from the strongest, most secure financial footing.
“I believe with all my heart in Leicester City and what the Club can achieve for our fans, our people and our communities – in Leicester, Thailand and around the world. The faith they continue to place in us to run their Club responsibly with ambition and integrity guides our decision making and remains vital to us building on one of the most successful eras in the Club’s history.”
Leicester City was acquired by the Srivaddhanaprabha family in 2010 and quickly made part of its King Power Group, which supported the Club’s rise from the Championship to the Premier League.
As well as overseeing success on the pitch – including winning the Premier League in 2016, winning the FA Cup and Community Shield in 2021 and embarking on three memorable European campaigns – the Srivaddhanaprabha family have transformed the Club off it.
A state-of-the-art new training facility in Seagrave, north Leicestershire was opened in December 2020, providing a world-class facility both for the Men’s First Team and for future generations of young players on the development pathway through the Club’s Academy. LCFC Women was launched earlier in the same year, with the team winning promotion to the top flight of the women’s game in their first professional season.
