Leicester businessman found guilty of defrauding victims across the UK
A businessman from Leicester has been found guilty of selling fraudulent franchise licences to victims across the UK, following a four-day trial at Leicester Crown Court.
Nazir Abdul Rashid Daud, 58, formerly of Landseer Road, Leicester, entered pleas of not guilty but failed to attend his trial. He was charged with three counts under the Fraud Act 2006 in relation to false representations made between 2015 and 2018 and a further charge of fraudulent trading under the Companies Act 2006, and was found guilty in his absence.
The prosecution was brought following an investigation by Leicestershire County Council Trading Standards Service, which received statements from 18 victims.
The court heard that Daud was the sole director of Payrolls Direct Limited, which he set up in 2014. Daud had advertised franchise licences for a new cloud-based payrolls system, which he was selling for between £5,995 and £9,995.
Franchisees would sign up clients, process payroll for each employee of the company they signed up, and Payrolls Direct would take 20 per cent of the fee, with the franchisee keeping the rest.
Daud claimed that buying a franchise licence would allow people to earn between £250 and £2,000 per month, depending on how much time they put into the business and how many clients they signed up. Advertising for Payrolls Direct also promised franchisees initial training, ongoing unlimited support, marketing materials and networking opportunities with successful franchisees.
But the court heard that statements from 18 franchisees who spoke to Trading Standards during the investigation revealed that only one was able to sign up any clients, and as the promised unlimited help, support and training was never provided, the franchisees were unable to use the payrolls system, leading to the contract with the clients being terminated.
Co-defendant Anthony Raybould, 65, of Alumhurst Road, Bournemouth, pleaded guilty to fraud by false representation under the Fraud Act 2006 and fraudulent trading under the Companies Act 2006.
The court heard that Raybould was the first franchisee licence holder, although he soon became a salesperson for Payrolls Direct, encouraging people to buy franchise licences.
He pleaded guilty to charges of fraud by false representation for receiving commission for every franchisee who bought a licence. Victims said he made false representations to them that he had many clients, was earning more than £2,000 per month on a part-time basis and was retiring to Spain – despite not earning anything himself from the franchise.
The court heard how Raybould earned in excess of £10,000 in ‘commission’ payments. It is also believed that Daud earned in excess of £300,000 in franchise licence fees.
Detailed in victims’ personal statements, the court was told how many had taken loans out to pay for the initial franchise fee or used life savings, had fallen into debt, given up their own current employment and the ordeal had severely affected their mental health, wellbeing, and personal relationships.
The court was told that Reybould was of previous good character and therefore a suspended sentence was imposed. As Daud has not yet been sentenced, no mitigation was made on his behalf.
His Honour Judge Mooncey sentenced Raybould to 24 months in custody, reduced to 22 months for the late guilty plea, with the sentence suspended for two years.
The judge was unable to technically sentence Daud in his absence from court, but issued a warrant for his arrest.
An order was also made under the Proceeds of Crime Act, and a timetable set for confiscation proceedings to recover any criminal benefit obtained by Daud and Raybould.
Gary Connors, head of Leicestershire County Council Trading Standards Service, said: “This form of fraud provides a quick financial return for the perpetrators, leaving the victims in financial and emotional turmoil.
“We expect the cost of living crisis will provide greater openings for franchise fraudsters as people look for more openings to bring in much needed income.
“The franchise industry is unregulated as a sector, and I would advise those seeking a new business opportunity to treat every success or income claim as totally unsubstantiated; if the seller cannot produce meaningful audited financial accounts of that success, move on.
“For Leicestershire Trading Standards Service, such investigations are resource intensive but necessary to protect consumers and legitimate businesses.”
Green light for new luxury homes in Melton Mowbray
Developer Springbourne Homes will begin work on a range of new, luxury homes near Melton Mowbray in the New Year, after securing planning permission from Melton Borough Council.
The Leicestershire firm is to deliver 29 homes at its ten acre site in Sandy Lane, Little Dalby, which features five, four and three bedroom homes, including seven bungalows.
Springbourne Homes chairman Adrian Burr said: “I am delighted to confirm that we will start construction at Sandy Lane after the festive period. We have worked alongside Melton Borough Council to agree these plans and we’re now keen to start work on what we believe will be another successful development.
“There’s a lot of negativity in the construction industry at the moment but there’s none of that here at Springbourne. We are feeling very upbeat and positive. We’re excited that we’ll soon be moving into Melton to deliver our unique brand of aspirational homes which have been the bedrock of our success story for almost 30 years now.”
Robust first half results for Frasers Group as pre-tax profits soar
Frasers Group has delivered a “robust set of first half results,” as revenue and profits rise despite the challenging backdrop of heightened economic uncertainty, skyrocketing energy costs, rising inflation, the cost of living crisis, and geopolitical instability.
In unaudited interim results for the 26 weeks to 23 October 2022, the Shirebrook-based retailer has posted group revenue of £2.6bn, up from £2.3bn in same period last year, largely due to acquisitions.
Reported profit before tax meanwhile was £284.6m, up 53% from £186m, which the company says reflects continually improving product choice, the growth of FLANNELS through store roll out and online, and profit on disposal of assets.
Adjusted profit before tax increased to £267.1m from £192.4m.
Looking ahead, Frasers Group said: “Whilst the macroeconomic environment is clearly challenging and the backdrop for the coming year is hard to predict with any certainty, we have strong strategic and trading momentum behind us and we remain confident in our guidance for Adjusted PBT of between £450m to £500m for this financial year.”
David Daly, non-executive chair, added: “We have delivered a strong performance during the period, despite the challenging backdrop of heightened economic uncertainty in the UK, soaring energy costs, rapidly rising inflation, a widespread cost of living crisis and continued geopolitical instability. Whilst post pandemic issues with the global supply chain remain, there are signs that these are beginning to ease.
“Frasers has delivered a robust set of first half results which demonstrate the resilience of our business and the continued success of our Elevation Strategy.”
During the period, Frasers Group made a series of strategic acquisitions, including Missguided, I Saw It First and Gieves & Hawkes (post period-end), while also strengthening its relationship with strategic brand partner Hugo Boss AG.
2023 Business Predictions: Andrew Mair, partner and head of BDO LLP in the East Midlands
It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.
It has become something of a tradition, given that we’ve been doing this now for over 30 years.
Here we speak to Andrew Mair, partner and head of BDO LLP in the East Midlands.
There’s little doubt that trading conditions for East Midlands businesses are extremely challenging and come after a sustained period of pressure which is set to continue into 2023.
However, the region is a resilient marketplace and, despite considerable economic headwinds, East Midlands businesses have performed ahead of expectations. According to our latest Rethinking the Economy survey of 500 mid-market businesses, 73% of regional companies are ahead of where they expected to be. And an overwhelming 83% of businesses are significantly more optimistic about their business prospects going into 2023, compared to this time last year.
While it’s reassuring to see business confidence at a high level, it should be tempered with some caution in light of the recessionary pressures. Issues, such as the rising price of materials and products, together with rising energy prices continue to drive inflation and remain a real cause for concern for regional businesses. These issues, together with supply chain challenges and the availability and cost of recruiting and retaining the right people, are adding to the general cost of doing business and placing immeasurable pressure on companies. The combination of all of these factors are forcing many to think creatively about how they can drive growth in 2023 against a challenging economic backdrop.
According to our Rethinking the Economy survey, more than a third of East Midlands businesses will be investing in ESG in 2023 in a bid to attract more customers, responding to the increasing interest from employees and reinvesting savings from reducing the business’s carbon footprint. In addition, 30% intend to increase investment in online and digital, while nearly a quarter plan to invest in hiring new talent.
There is a considerable amount of uncertainty heading into 2023, but one thing is certain – a large portion of East Midlands businesses are well positioned and primed to ride out the economic pressures.
New energy centre opens at Grantham College
Grantham College has officially opened its new energy centre which sets out to develop students’ skills and “be part of a brighter future.”
Principal Paul Dean welcomed visitors and the Mayor of Grantham, Councillor Graham Jeal, cut the ribbon to open the centre.
Mr Dean said: “It is a real delight to open these facilities after all of the work from our staff, suppliers and contractors. This centre will help us develop the skills of the students that are so urgently needed if we are to transition to net zero.
“Sometimes colleges have to lead and take risks and have vision for capacity to be developed. When these skills are developed, the opportunity to develop businesses is there and investing in green skills is a win win. It should not be seen as a cost but a long-term investment.
“We at Grantham college want to be a part of a brighter future, supporting energy security and the transition to net zero. It is hoped it will help solve current skills gaps but also help to inspire our students.”
The college’s existing engineering and link block spaces have been transformed to create a centre that combines engineering and construction with state-of-the-art and industry-standard equipment.
It provides new learning opportunities in electrical engineering, plumbing, gas fitting and renewable energies including solar, wind and air.
This project also extends the curriculum to not only give students more skills, but allows more businesses to work with the college.
Steven Peacock, Vice Principal of Grantham College, showed guests around the centre to give them an exclusive look into the project.
He said: “We are very delighted that the Greater Lincolnshire Local Enterprise Partnership has funded this project. The two disciplines of construction and engineering are taken into account with a view to developing technologies and looking towards the future in terms of energies.”
With the new centre, the college offers a number of courses including levels 1 to 3 in plumbing studies, levels 1 to 3 in construction skills, as well as apprenticeships in plumbing and domestic heating and engineering fitting alongside other courses.
The centre will also offer flexible green skills boot camps including introductions to heat pump installation, solar panel installation, smart metering and more.
Fusion Utilities invests millions in new Derbyshire site
Following a multi-million-pound investment, Wolseley Infrastructure has announced plans for its Fusion Utilities brand to open a new 160,000-square foot facility in Bolsover, near Chesterfield, just off the M1.
The new Wolseley Infrastructure site will house a wide variety of utilities products which will allow the brand to provide better availability to customers.
The new site will be used as a fulfilment centre to deliver stock directly to customers on-time and in-full nationally, as well as providing services such as Hire & Servicing and housing technical services, national sales office and design teams.
Located just off the M1 in Bolsover for easy driver access, the new site is due to be ready in April 2024.
Commenting on the investment, John Hancock, Managing Director at Wolseley UK, says: “This exciting investment has been inspired by our Customer First approach, which has guided our developments ever since Fusion Utilities became part of Wolseley Infrastructure. We believe that the new Chesterfield site will build upon our product and service offerings to provide our customers with an even easier, more streamlined way to meet their utilities needs.”
On top of the massive benefits to customers, the new warehouse will create jobs for residents in Bolsover and the surrounding area. John continues: “Our dedication to people goes beyond our employees — and we’re proud that the new site will help to support the local community too. It’s all part of our mission to create a Positive Impact in everything we do.”
Planning is already underway for the development, with Neal Lambert, Technical Director at Fusion Utilities, and Simon Dennis, National Operations Director, at the helm of the project.
Initial designs include the warehouse combining a green exterior with building features that mirror the natural landscape, visually showcasing Wolseley Infrastructure’s commitment to being environmentally conscious. The site will also include local vegetation to provide a biodiverse habitat, in addition to having attenuation ponds to reduce flood risks.
Neal says: “This new warehouse marks an exciting time for Fusion Utilities, with our customers, colleagues and suppliers all reaping the countless benefits this site will provide, in a central location with easy motorway access. The team have been working tirelessly to make sure the site meets all our customer requirements and we can’t wait to unveil it in 2024.”
Chesterfield manufacturer works with chocolatier to produce festive range for John Lewis
Robinson, a Chesterfield-based manufacturer specialising in value-added custom packaging, has teamed up with Holdsworth Chocolates to create a Christmas confectionery range for John Lewis.
The bespoke festive range includes a selection of 100% recyclable rigid boxes, sleeves and treat bags printed in a six-colour design and foil blocked on gold.
Robinson produced the 200g and 400g box and lid on a recently acquired rigid box line. The new equipment – SATE machinery – is based at the site in Chesterfield and offers huge advantages in terms of production and quality of the finished product with savings on fixed production costs, consistency and reliability, and ease of use and maintenance.
Jon Walker, new business development manager at Robinson, said: “Producing high quality, creative, engaging packaging for brands and retailers at an affordable price is key. Being an independent company means that we can be flexible to the needs of Holdsworth. We turned around production from design to delivery in just 3-4 weeks.”
David Sharples, Managing Director at Holdsworth Chocolates, said: “Whenever we produce packaging, including for special celebrations such as Christmas, we aim to make sure all the materials we use are sustainable and can be recycled.
“Sustainable packaging is a collective goal for both Robinson and Holdsworth. Our brand was developed on a passion for creating beautiful hand-crafted chocolates, using the finest of everything, that’s why it is so important that we invest in high quality sustainable packaging that reflects our values too.
“The packaging has been printed using six colours and is completed with foil blocking; the perfect finishing touch to add a stunning and luxurious feel to the design. As the Christmas packaging was only needed in limited quantity, Robinson provided a small bespoke run for Holdsworth’s needs, making them the perfect packaging partner.
“The breadth of the Holdsworth chocolate range of products means we have a requirement for a wide spectrum of packaging solutions, whether that be rigid boxes and lids, folding cartons or our unique clam shell gift boxes. With Robinson, we have found a partner in whom we can place an absolute trust; not only in reacting quickly to demand but also in helping us to create beautiful, sustainable packaging that perfectly complements our core values as a British business of excellence and quality.”
More than 10,000 illegal cigarettes seized in Grantham shop raids
Joint agency raids on two premises in Grantham have led to more than 10,000 illegal cigarettes, hand-rolling tobacco, 350 illegal vapes and cash seized.
Many of the contraband items had been hidden in elaborate ‘hides’ within one shop.
The raids were carried out by Lincolnshire Trading Standards, Lincolnshire Police’s licensing team and Grantham’s neighbourhood policing team.
At 28 Westgate, known as The Local Store, illegal goods were found hidden in three separate locations – in a hide behind a bathroom mirror, in an electrically operated magnetic lock beneath the counter, and under the counter floor.
At ‘Baltic’ located at 16 Westgate, approximately 3,000 illegal cigarettes and 100 illegal vapes were found – mainly in the rear storeroom.
The operation was a result of community and police intelligence, and behind-the-scenes work by the Licencing Team, which is a partnership between Lincolnshire Police and Lincolnshire County Council.
PC Mark Barr, Community Beat Manager for the Grantham Neighbourhood Policing Team (NPT), said: “We know that the sale of illegal goods like this is linked to youth anti-social-behaviour (ASB) as well as organised crime.
“Disrupting that activity through raids at stores where we think there may be counterfeit goods puts an almighty dent in the profits of criminal gangs. Make no mistake, these stores can make up to £50,000 a week, so the profits involved in selling what is an illegal and often dangerous product are quite staggering.
“This latest activity shows that we won’t tolerate this, and we will take action. We would encourage our community to continue to come forward with intelligence which can help us stamp out the sale and trade of counterfeit goods.”
Principal Lincolnshire Trading Standards officer, Andy Wright, said: “This is another excellent example of the partnership work between Trading Standards, Police Licensing and Police Neighbour Teams. Many of the cigarettes seized were counterfeit, and many don’t include vital safety features which allow them to self-extinguish when not being smoked, making them a huge fire safety risk.
“The complexity of the hides – both using electro-magnetic locks – in use in the second shop show that this was a professional enterprise with the specific objective of selling illegal cigarettes.
“Increasingly, we are finding shops selling illegal cigarettes also sell illegal vapes. Some of the illegal vapes seized contained way over the legal limit of nicotine, with some having the same nicotine content as 150 cigarettes.
“By tackling and removing shops selling illegal cigarettes, we’ve seen it can result in a huge reduction in general crime and anti-social behaviour in an area. We are aware of the concerns of local residents in those areas and, with help from our partner agencies, we are doing all that we can to help improve the quality of life in these communities.”
Duo of Derbyshire businesses partner on skills to promote growth and apprenticeships
Two Derbyshire-based businesses are partnering together to promote growth and employment opportunities for young people wishing to pursue an apprenticeship.
The two companies are marketing agency Purpose Media and apprenticeship providers EMA Training. Purpose Media has been using EMA Training for many years to meet their needs for IT and digital marketing apprentices and the latest partnership will see them combine skills to enable EMA to promote apprenticeship opportunities to the wider East Midlands market.
EMA Training’s Chief Executive Officer, Tracey Mosley, said: “We are delighted to announce the launch of our new website ematraining.co.uk, in partnership with Purpose Media. As an East Midlands apprenticeship training provider, we work closely with local employers to ensure career employment opportunities are accessible.
“This would not be possible without the support of employers such as Purpose Media who, as one of our employer clients, provide guidance, employment, and progression opportunities to those starting their careers.”
Chloé Farmer, head of marketing, said: “Our new, innovative website aims to inspire and guide school leavers, young professionals, parents, and employers. Purpose Media has provided us with an accessible and appealing platform to attract, inform and educate them of the benefits of apprenticeships. Even today we find that many people do not fully understand apprenticeships and our website aims to dispel the myths.
“We believe in supporting apprentices to develop their careers at any given opportunity; EMA’s marketing assistant, Jess Tracey, has project managed the website from an EMA Training perspective as part of her Level 4 Marketing Executive apprenticeship, which has been fantastic for her career development!”
Grace Golden, head of client growth from Purpose Media, said: “Over our 14-year company history, Purpose Media has a long track record of nurturing apprentices, in fact many are now in senior management roles.
“Co-incidentally, Ruby Birks, who has project managed the work for EMA training is a former apprentice who has recently won two apprentice of the year awards, so this shows how beneficial apprenticeships can be in kickstarting a career journey. We are delighted to be partnering further with EMA to create more employment opportunities for young people.”
Two Leicestershire company directors banned for 19 years following Bounce Back Loan abuse
Restaurant and fashion bosses in Leicestershire have been banned for misconduct including Bounce Back Loan abuse and failing to keep company books and records.
Savio Gilbert Pereira, 46, and Sajid Anver Valimohammed, 37, have been disqualified as company directors for a total of 19 years following separate Insolvency Service investigations which uncovered financial misconduct.
Pereira, of Market Harborough, was sole director of Himalayan Zest Takeaway Limited, which was incorporated in April 2018 and traded as Himalayan Zest on Market Street in Lutterworth until it went into liquidation in November 2021.
In June 2020, Pereira applied for a Bounce Back Loan on behalf of Himalayan Zest. Bounce Back Loans were government-backed loans designed to help businesses stay afloat during the Covid-19 pandemic.
Under the rules of the scheme, companies could apply for loans of between £2,000 and £50,000, up to a maximum of 25% of their turnover for 2019.
Pereira stated that Himalayan Zest’s turnover was around £207,500, which allowed the restaurant to receive the maximum £50,000 loan.
When the business went into liquidation the following year owing around £51,500, it triggered an investigation by the Insolvency Service which found that Pereira had exaggerated Himalayan Zest’s turnover in order to falsely claim the loan.
Investigators discovered that the company only had around £54,600 in its bank account following receipt of the Bounce Back Loan, and between June and August that year, Pereira had made a £10,000 payment to himself, £28,000 in various debit payments to an unknown recipient and had withdrawn a total of £16,800 in cash.
Pereira was unable to prove that these transactions were for the economic support of the restaurant.
A second director, Sajid Anver Valimohammed, of Leicester, was director of J Dee Designs Ltd, which was incorporated in July 2019 and traded as a fashionwear finisher from Upper Charnwood Street in Leicester until it went into liquidation in December 2020.
But Valimohammed had failed to keep business accounts and records – a legal requirement of company directors – and was unable to hand them over to the company’s liquidators, which led to an investigation by the Insolvency Service.
Investigators discovered that Valimohammed had withdrawn more than £286,000 from the company bank account through 199 separate transfers with the reference ‘Mrref Self FT’ during the time J Dee Design was in business.
They found that around £315,300 was withdrawn from J Dee Design’s bank account during the period – including £30,000 from a Bounce Back Loan that the company had applied for – but Valimohammed could not prove that the transactions were for legitimate trading activity, or whether the loan money had been used for the benefit of the company.
And due to his failure to keep company accounts, investigators were also unable to verify whether J Dee Designs had paid the correct amount of tax it owed, or to ascertain the true financial position of the company when it went into liquidation, including whether liquidators would be able to make any recovery of debts.
Valimohammed did not contest the disqualification order at court and was banned from being a director for 8 years on 9 November this year. His ban began on 30 November and the court also awarded full costs to the Insolvency Service.
Separately, the Secretary of State accepted a disqualification undertaking from Savio Pereira in October, after he did not dispute that he had caused his restaurant to falsely apply for a Bounce Back Loan of £50,000, and had failed to use the money for the economic benefit of the company.
Pereira’s disqualification started on 15 November this year and lasts for 11 years. The bans prevent the two directors from directly or indirectly becoming involved in the promotion, formation or management of a company, without the permission of the court.
Dave Elliott, Chief Examiner at The Insolvency Service, said: “The Insolvency Service takes Bounce Back Loan abuse and the failure to keep, preserve and deliver up books and records very seriously.
“The length of these directors’ bans reflects the gravity of their misconduct, and should serve as a warning to others.”
Nottingham apartments scheme sold to specialist retirement living developer
Commercial developer, Peveril Securities and senior living developer, Charterpoint have sold a site in Beeston, Nottingham, to specialist retirement living developer Churchill Retirement Living.
Earlier this year, the site received full planning permission for a development of 51 retirement living apartments from Broxtowe Borough Council.
Situated on a mixed-use site, on land previously occupied by the former Myford Works, the scheme off Chilwell Road will feature one and two-bed apartments, plus communal owners’ lounge and coffee bar, along with a guest suite and a lodge manager.
The apartments are part of a wider development on the site which also includes Myford Court, a new development of penthouses and apartments by Peveril Homes, a Central England Co-op store, which opened in May 2020, and a 66-bed care home to be operated by Tanglewood Care Services.
This scheme will mark the completion of the 4.5-acre brownfield regeneration site.
James Smith of Peveril Securities said: “Once complete, this superb scheme will create a modern community in a prime location just a few hundred metres from Beeston town centre. Residents will also have excellent transport links and access to an abundance of amenities, as the site is close to a tram stop.”
Charterpoint CEO Adrian Goose said: “We are delighted to have sold this site to Churchill Retirement Living who will now take it forward to create a high quality new independent and activity retirement development close to shops, transport links, leisure facilities and other amenities.
“This is the final part of a visionary place-making scheme that has breathed new life into the area, and we are very pleased to have created such an attractive and popular mixed-use scheme so close to Beeston town centre.”
Churchill’s Regional Managing Director Robert Monkman added: “We’re looking forward to starting work on this new development, which will create a vibrant new community in the heart of Beeston.
“Retirement housing is the most effective form of residential development for generating local economic growth, supporting local jobs, and increasing high street spend. Our new apartments will also help improve the health and wellbeing of those who live there, and meet the housing needs of many older people in Beeston and the surrounding area.
“We are actively looking for more new sites like this to bring much needed retirement housing to the wider Midlands region.”
DMU wins funding to help businesses turn ideas into reality
Academics will be working with a range of companies on a new series of short-term projects designed to get innovative ideas off the drawing board and into reality.
De Montfort University Leicester (DMU) has won funding for five projects as part of the Government’s new £3m Accelerated Knowledge Transfer to Innovate programme. It was launched earlier this year to deliver short, fast and targeted projects that can make significant impact for a business.
DMU won funding for all five applications it made, led by the university’s knowledge exchange team of Dr Rhianna Briars and Darsh Chauhan, working with academics across the university. DMU was awarded more than £143,000.
Each project has a maximum funding amount of £35,000 and runs between two and four months.
Dr Briars said: “DMU is always looking to collaborate with local businesses and SMEs to match our areas of expertise with companies in a way that adds real value to the region’s economy.
“We have been delighted with the response from businesses and our academics, and to have all five projects win funding is a great result.”
The projects which have won funding are:
- Designing new technology to support Deaf dancers and choreographers to create new work, with Serendipity Arts – Professor Tracy Harwood and Dr Dave Paggett
- Designing new software for finance firm Spitfire Analytics to help save customers time and money – Dr Graeme Stuart
- Helping predict the strength of 3D printed components using a machine learning model – Dr Reza Baserinia and Gamlen Tableting Ltd
- Testing and creating more efficient furnaces that give a more predictable performance – Dr Abolfazi Zahedi and Dr Meisam Abdi, and Vacuum and Atmosphere Services
- Creating a database and search system to promote films in all languages – Dr Hiu Man Chan and Trinity Filmed Entertainment
WestBridge Group acquires 3,500 strong SSAS book from Rowanmoor Executive Pensions
Leicester-based WestBridge Group (WestBridge), one of the UK’s leading SSAS administrators and tax experts, has continued its expansion plans with the acquisition of the employees, clients, and assets of Rowanmoor Executive Pensions Limited’s (REPL) book of 3,500 small self-administered schemes (SSAS), for an undisclosed sum.
This is the second major acquisition by WestBridge and follows the purchase of the James Hay SSAS book in March 2021. The acquisition will see WestBridge add over 3,500 SSAS to its existing book of 1,000 plans.
Completion is scheduled for the end of January when WestBridge will take over the duties and responsibilities of REPL. All 97 staff will be retained and continue to operate from the current offices in Bolton and Salisbury.
The acquisition will include REPL’s actuarial team which will add to the professional services offered by WestBridge.
The Group recently moved to a new HQ in Leicester on Meridian Business Park.
Tom Moore, chairman of WestBridge Group, said: “We have made no secret that we are acquisitive for the right books of business and have shown how we can successfully integrate them into the WestBridge Group. This is another exciting opportunity for us to bring together the combined expertise of SSAS professionals from both firms to create a hub of SSAS excellence. We look forward to welcoming the team to the WestBridge Group and getting to know them all.
“REPL is an established business benefiting from strong management and a depth of resources. We look forward to meeting their clients and intermediary partners to reaffirm our commitment to dedicated account manager driven SSAS administration.”
Paul Downing of Rowanmoor Executive Pensions Limited said: “As a leading SSAS administrator, we received a number of expressions of interest in acquiring our business and client book. The board is delighted to have found the right home for our staff, assets under administration, and importantly our customers who will receive the benefit of continuity in service as WestBridge takes the helm.”
WestBridge Group have also announced that the acquisition will see them rebrand the enlarged business in Q1 2023, recognising the growth and future of the firm.
Digital disruption expert joins Browne Jacobson
Law firm Browne Jacobson, which has offices in Nottingham, has appointed digital disruption legal expert Mike Rebeiro as strategic advisor to its UK & Ireland (UK&I) IP and Technology team.
Mike who was the former Global Head of technology and Innovation at Norton Rose Fulbright, is a highly experienced senior business, technology and digital lawyer that has had extensive Chair and Board experience.
Mike has 28 years’ experience advising British and international corporates on the regulatory and ethical implications of the use of new digital and disruptive technologies including, Artificial Intelligence (AI), Big Data, the Internet of Things (IOT), robotics and digital assets. Prior to joining Browne Jacobson, Mike has also held roles at Slaughter & May and Macfarlanes.
Mike’s role will see him work closely with partner Declan Cushley, who leads the firm’s strategy for the corporate sector, and partner and head of Browne Jacobson’s Digital and Outsourcing practice, Anthony Nagle, in driving forward the firm’s digital disruption strategy which is a key strand of the firm’s overall vision for growth.
Speaking on the appointment, Declan Cushley, said: “Mike has strong international links, which following our investment into Dublin presents an excellent opportunity to enhance our offering to clients who do substantial business globally and reach new target clients in the EEA and the US.
“Mike will also be imperative in helping to build the bridge between our UK&I based commercial teams that are focused on digital disruption and support them to give clients a seamless service across both jurisdictions. We are thrilled to have Mike on board to help further shape our firm ambitions around digital disruption.”
Anthony Nagle added: “Our clients are continuously being challenged by new technologies and business models and how they are disrupting the markets and industries they operate in. They are having to think creatively on how to adapt to these changes. We want to encourage our clients to embrace these disruptions and connect them to the many benefits and opportunities for growth that they offer.”
Mike said: “Browne Jacobson has clear ambitions to be even more connected to the critical issues facing its clients, including how digital disruptive technologies are impacting their Environmental, Social and Governance agendas. Browne Jacobson is at the forefront of advising clients on the intersection of their ESG ambitions and digital disruption and the wider impact that it can have on society – this is what puts them ahead of other law firms.
“I am pleased to become part of its digital offering and those aspirations, and to help see the bigger picture between the firm’s London, Dublin and wider international networks.”
New ‘Green Heart’ to take shape in 2023 following year of progress for Nottingham’s Broad Marsh
Work starts next year on the creation of a new ‘Green Heart’ in Nottingham city centre as part of the ongoing regeneration of the Broad Marsh area, which has seen a huge transformation in 2022.
The Green Heart is the centrepiece of Nottingham City Council’s vision for Broad Marsh, created with the Greater Broad Marsh Advisory Group and world renowned designer Thomas Heatherwick, which was unveiled a year ago.
The first phase of the Green Heart will see an area the size of the pitch at Nottingham Forest’s City Ground located between Collin Street and Lister Gate – previously part of the old Broad Marsh shopping centre – covered in trees and planting, creating a natural, tranquil green space with pathways between Nottingham Station and Old Market Square.
One of the features of the Green Heart is what is believed to be the longest bench in the UK stretching across the space allowing people to linger and enjoy the environment.
Major progress has been made in the ongoing transformation of Broad Marsh over the last 12 months.
The demolition of the west side of the shopping centre building with funding secured from D2N2, the Local Enterprise Partnership, via the Government’s Getting Building Fund, has made space for the new Green Heart and enabled a new pedestrian Right of Way to be created across the site. This has provided uninterrupted open air access between the Southside of the city into the city centre for the first time since the Broadmarsh centre was built nearly half a century ago.
Other key developments in 2022 include:
- Work starting on the fit-out of a state-of-the-art new Central Library
- The opening of the new Bus Station
- The creation of new public space and public art around Sussex Street and Carrington Street
- Progress on a detailed business case for the wider redevelopment of Broad Marsh
- Submission of a bid to the Government’s Levelling Up Fund for developing the Frame as a key element of the Broad Marsh vision
- Submission of an Investment Zone ‘expression of interest’ application.
- The new Central Library is expected to be completed and ready to open later in 2023.
- A unique new Skateable Space is being created as part of the public realm works on Sussex Street, underlining Nottingham’s reputation as one of the UK’s leading cities for skateboarding.
- A major new study into rejuvenating the unique cave network underneath Broad Marsh is to be published by the University of Nottingham.
- Further work on the wider Master Plan and detailed business case for the Broad Marsh redevelopment.
- ‘Meanwhile use’ opportunities will be progressed while the long term development plans are being finalised.
2023 Business Predictions: Simon Rice, founder and Managing Director of HSG
It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.
It has become something of a tradition, given that we’ve been doing this now for over 30 years.
Here we speak to Simon Rice, the founder and Managing Director of Derby-based washroom water conservation specialists HSG.
Environmental sustainability and the cost of living crisis continue to share the headlines so I hope that 2023 brings a greater acceptance of how businesses can embrace technology that has a positive impact on both the earth’s precious resources and the corporate balance sheet.
Most people are not aware that the majority of fresh drinking water that is used in a commercial premises goes through the urinals.
Most urinals flush four times per hour – so every 15 minutes, even at night when the building is empty, resulting in a mammoth 96 flushes per day.
Our Ureco water conservation system enables businesses to drastically reduce the amount of fresh drinking water flushed down the drain and saves them money on water and maintenance bills.
In addition to the water and cost savings, the patented Ureco technology stops unpleasant smells and blockages which, in turn, negates the need for harsh chemicals being poured in the drainage system and sewerage system.
It’s often the simplest ideas that have the greatest impact so I hope this is the year that business owners open their minds to the part they can play in reducing their carbon footprint for good of the environment and their own financial health.
Games Workshop appoints new chair
Games Workshop, the Nottingham-headquartered manufacturer and seller of fantasy miniatures, has appointed John Brewis as non-executive chair of the company.
John has been an independent non-executive director of the business since 2018, the senior independent director since 2021, chair of the Remuneration Committee since 2019 and a member of the Audit and Risk and Nomination Committees.
John takes over from Elaine O’Donnell, who steps down from the role of non-executive chair and non-executive director after serving as a director for nine years, and two as chair.
The company will be appointing a new senior independent director and chair of the Remuneration Committee as well as seeking a new non-executive director in due course.
The news came as Games Workshop released a half year trading update, in which it confirmed results are in line with expectations.
The Board’s estimate of the results for the six months to 27 November 2022 is core revenue of not less than £210 million (2021: £191.5 million) and licensing revenue of c. £14 million (2021: £20.1 million). Core operating profit is estimated at not less than £70 million (2021: £69.6 million) and licensing operating profit of c. £13 million (2021: £18.9 million). Profit before tax is estimated at not less than £83 million (2021: £88.2 million).
Major shareholder proposes removal of Topps Tiles chairman
A shareholder at Topps Tiles is pushing for the firm to remove a director of the company from office, as well as ejecting him from the position of non-executive chairman.
It is proposed by Lynchwood Nominees Limited, on behalf of MS Galleon (MSG), that Darren Shapland be replaced, while Lidia Wolfinger and Michael Bartusiak be appointed as non-executive directors of the company.
MSG currently holds approximately 29.9% of Topps Tiles’ voting share capital.
The Board however does not consider the proposals to be in the best interests of the Leicester-based company and its shareholders, saying it intends to recommend that shareholders vote again the Requisitioned Resolutions at the business’s AGM.
MSG owns Cersanit, a major European producer of tiles, in addition to having a range of home improvement and tile retailing interests, primarily in the Polish market.
Topps first received a notification of shareholding from MSG in May 2020, stating that MSG had a 4.1% beneficial interest in the voting share capital of Topps. By November 2020, MSG had built its shareholding to 20%. At this time, Cersanit was a minor supplier to Topps.
In 2021, MSG approached Topps regarding the potential appointment of an MSG representative to the Board, and proposed that Topps should purchase a greater proportion of its tiles from Cersanit. Topps rejected these plans.
Subsequently, MSG voted against the re-appointment of Darren Shapland as chairman of Topps at the 2022 annual general meeting. Since July 2022, MSG has increased its beneficial shareholding in Topps to 29.9% of the company’s voting share capital.
Darren Shapland, non-executive chairman of Topps, said: “The Board strongly rejects these proposals, which it believes expose a clear conflict of interest between MSG’s objectives for Cersanit and the interests of all Topps shareholders. The Board welcomes the support received from our other largest shareholders, who have confirmed their intention to vote against the Requisitioned Resolutions at the AGM.”
Keith Down, senior independent director of Topps, said: “The Board unanimously rejects these resolutions which it does not consider to be in the best interests of the company and its shareholders as a whole. In proposing a resolution to remove the chairman, who has led communications with MSG on behalf of the Board, MSG is seeking simply to strengthen its own position.”
Amazon brings Alexa Young Innovator Challenge to the East Midlands as new research reveals STEM gaps in local schools
New research from Amazon reveals a need to boost the STEM skills gap in schools in the East Midlands to help meet future demand for jobs in computer science and AI.
The research, which quizzed secondary school teachers in the East Midlands, is released as it’s also revealed that teaching Artificial Intelligence (AI) skills in secondary schools could help to fill increasing demand for computer science and AI related roles, supporting on average £71 billion of economic output annually to 2030 in the UK economy, according to a report published by Amazon and Capital Economics.
The need to boost AI learning in schools in the East Midlands is supported by new YouGov research –commissioned by Amazon – among secondary school teachers and parents. The research shows:
- 63% 107 of secondary school teachers surveyed in the East Midlands agree that AI should be part of their school’s syllabus, while 82% 43 of teachers in the East Midlands surveyed believe access to free AI and computer science learning resources linked with the curriculum would help students better engage in computer science.
- Among teachers surveyed in the East Midlands, almost two thirds (62%) 61 have limited access to computer science resources, rising to three quarters (76%) 70 when focused exclusively on AI.
- While two thirds (67%) 125 of secondary school teachers surveyed in the East Midlands believe that education in computer science better prepares students for future careers in all sectors, less than one in three (31%) 152 say AI learning is only part of an opt-in or extra paid-for club and not part of the syllabus.
- Two thirds (66%) 198 of secondary school teachers surveyed in the East Midlands say children don’t have enough information to understand future career opportunities that involve computer science and AI.
- Three quarters (74%) 92 of secondary school teachers surveyed in the East Midlands who think schools should be making an active effort to increase education and resources around AI and CS, say that without increased STEM education and resources, there will be long-term skill gaps
Mansfield secures £2.95m investment for businesses and communities from Government
Nearly three million pounds has been confirmed by the government for projects to support Mansfield’s businesses and communities.
Mansfield District Council has been allocated £2.955m from the UK Shared Prosperity Fund (UKSPF) for over three years. The funds will be used for community projects, business support, and to promote new skills and employment opportunities.
It will also help to deliver the aspirations in the Making Mansfield strategy, which sets out council aims and ambitions between now and 2030.
Elected Mayor Andy Abrahams said: “I am thrilled we have been successful in securing these resources to bring more opportunity and investment to Mansfield.
“The £2.955m will help support long-term fundamental change, growth and regeneration across the district and open up more opportunities across Mansfield bringing new jobs and skills opportunities.
“The creation of a dedicated community grant will also have a huge impact, and I believe it is a core and innovative feature of our approach. Local community groups know best what their communities need, and will now be able to make a difference on the ground. I look forward to seeing this roll-out begin in the New Year.”
The Mansfield Community Grant Fund will offer a maximum of £15,000 in grant for community and voluntary groups to apply for projects that will make a difference in their local neighbourhoods. The council will work collaboratively with Mansfield Community and Voluntary Service. It is expected it will be open to applications shortly.
There will also be an opportunity for direct bidding for projects over £15,000 that must demonstrate that they contribute to the council’s communities and place ambitions. Applications will be invited directly from Mansfield District Council.
The plan will see the council deliver some of the projects itself, some via partners and commissioning, and others through grass-roots activity, targeted towards priority areas and themes and carried out in collaboration with community groups and partners. Plans for business support projects and skills related activity will follow in future financial years.
Councils in England have drawn up the plans with a wide range of local partners that deliver for people in their areas. The authorities have chosen to spend the money on a range of initiatives, such as supporting people into jobs, helping local businesses to grow and fighting anti-social behaviour, and can now begin to deliver these.
The Mansfield submission reflected on local opportunities and challenges to ensure the programme reflected local needs.
The UKSPF marks the first availability of funding to replace EU funding streams previously available and was approved by Government on 5 December.
Levelling Up Minister Dehenna Davison added: “We are taking full advantage of being outside the European Union and unlocking billions of pounds of investment to help level up communities and spread opportunity across the UK.
“The UK Shared Prosperity Fund will have tangible benefits for people up and down the country, from a young entrepreneur in need of a helping hand or those who want to gain the skills they need to secure a decent, well-paid job.
“The UK government has worked closely with local leaders across England, Wales, Scotland and Northern Ireland, giving them a greater say in how this money is spent and ensuring funding is directed to where it is most needed.”
The Government’s approach also means that councils and local partners will have the opportunity to adapt each plan to reflect new economic priorities over the period to 2025.
Elected Mayor Andy Abrahams added: “We have looked to work closely with our partners on the submission, not least via the Place Board and we are pleased to have had their support. We look forward to continuing this relationship as the programme develops.”
