Leading accountancy practices merge
Streets Chartered Accountants, a top 40 UK accountancy practice, has announced the establishment of Streets Steele Chartered Certified Accountants following the merger of the award-winning Bristol practice, Steele Financial with Streets Chartered Accountants.
Ben Steele, now Managing Director of Streets Steele, said: “Having started Steele Financial only six years ago we have experienced significant growth and as such, in line with the advice we give our clients, we recognised the need to develop our practice to service growing demand.
“In particular it would seem our approach to run a true cloud based and digital accountancy practice along with providing clients a virtual finance office, certainly has made us an attractive proposition for many entrepreneurs and businesses alike.
“Recognising the potential, along with the need for us to provide a greater breadth of services, we sought to join up with a larger practice who can not only support us but also support the needs of our clients, now and in the future. We are delighted to say we have found that in Streets Chartered Accountants.
“We also believe that our clients will benefit in that the combined firm will be able to offer a wider range of services, including areas of specialist corporate and private client tax planning, international advice and personal financial planning.”
Looking at what the merger means to Streets, the firm’s managing partner, Paul Tutin, said: “We are delighted and excited to have Steele Financial become part of the Streets wide practice.
“Ben and his team, including fellow director Ryan Saward, are a truly inspiring practice and have earned an enviable reputation, not just in Bristol, but also in London and further afield, for their progressive approach and innovative use of technology to look after the needs of clients.
“Such an approach has seen them successfully grow a broad client base as well as particular sector specialisms in hospitality, food and drink and media and entertainment.
“We are looking forward to working with Ben and his team on enhancing and developing a practice wide virtual finance office and our respective sector specialisms.
“This recent merger comes on the back of an earlier one this year, with Streets Eadie Young in Banbury, Oxfordshire and this time last year Streets Whittles in Colchester, Essex. In line with our own growth aspirations, we also recently opened a new office in Burnley, Lancashire and are currently in talks with a number of practices around further mergers.
“With Streets Steele in Bristol, we now have 23 offices from Burnley in the north to Brighton in the south.
“Whilst many large firms have moved to more regional models, Streets remains committed to and focused on looking after clients that live, work and operate businesses in the local area. This approach is very much at the heart of our strategic focus for growth, which is likely to include further mergers of like-minded firms. Our aspiration is to become a top 20 UK practice by 2030.”
MTMS founder shortlisted for Rail Benefit Fund’s Heart of Gold Awards
A business owner who has dedicated more than two decades to the rail industry has been shortlisted for a prestigious award for his tireless work helping those less fortunate.
Malcolm Prentice, group chairman of MTMS, based in Moira, near Swadlincote, is in the running for the Lifetime Achievement award for the 2023 Rail Benefit Fund’s Heart of Gold Awards.
The awards celebrate those in the rail industry who have made a real difference in their workplace or community. The nominations are put forward by those working in the industry to thank people who they appreciate, value and inspire them.
Organisers said they received more than 90 nominations as they were “flooded with many inspiring and heart-warming stories.”
The award nomination says of Mr Prentice: “Malcolm Prentice has been a leader, mentor, and generous benefactor in the rail industry for over 20 years. With his heart-warming, gentle approach, patience and engaging good humour, he has shown limitless, and often unseen, benevolence and generosity.
“Caring for the poorest in society across big rail hotspots of the Midlands, he has helped countless young people in their development. With a focus on those in care, Malcolm has arranged Christmas lunches for those who are released from care and are finding life difficult.
“Recently he established hardship funds for cadets, and for decades he has supported hundreds of recently discharged veterans, many of whom work in the rail industry now.
“For over 40 years he has been quietly providing a springboard for the least fortunate in society whilst mentoring those new into business and providing professional guidance that has led many to generate success.”
Mr Prentice, whose charitable work includes a party at Christmas for young people who have come out of the care system and supporting the Armed Forces cadets, said: “I’m almost embarrassed to be nominated, but extremely privileged.
“I hope that if I do win, it would enable me to be a mouthpiece for the small UK manufacturing rail industry. This is a changing industry so they do need to have that voice.
“Businesses work with many charities and they do what they can to help young people. This is not about me. I am humbled by it but this is for the SMEs and to support the industry.”
There are five award categories that contenders are shortlisted for – Rising Star, Lifetime Achievement, Team, Wellbeing Champion and Rail Hero Award.
Voters have until October 31 to select their winner.
The winners will be announced online once the voting has closed and they will be invited to London later in the month to receive their awards from Rail Benefit Fund president Pete Waterman.
College’s £3.5m automotive training facility gets go-ahead
Council leader gives “untold damage” warning on rail interchange
“Untold damage” to rural communities is in store if plans for the huge 662-acre Hinckley National Rail Freight Interchange (HNRFI) go ahead, according to Councillor Terry Richardson, Leader of Blaby District Council.
He says the scheme, earmarked for swathes of countryside southwest of Elmesthorpe, would change the rural character of the District and its village communities forever.
His warning comes as the Council submits its latest formal submission, the Written Representation. In it the Council says it “vehemently opposes the HNRFI due to the far-reaching adverse environmental and social impacts it would cause in the local area.”
The Written Representation and a Local Impact Report, highlighting serious concerns about the scheme, have been lodged with the Planning Inspectorate.
The Inspectorate is scrutinising the rail freight hub plans, during a six-month examination.
Proposed by developer Tritax Symmetry, the hub would sit between the M69 and the Leicester to Birmingham rail line.
Neither the Council, nor the Planning Inspectorate can approve nor reject the plans. Due to its status as a National Infrastructure Project its fate will ultimately be decided by the Secretary of State for Transport.
However, as a statutory consultee, the Council can raise issues through written submissions as well as at the various meetings and hearings which are taking place through to next spring.
Building on previous concerns, the Council’s Written Representation says the scheme has significant deficiencies and fails to mitigate some of its most negative impacts.
Objections include that it:
- Does not have a sufficient transport strategy in place and so will cause significant adverse road network impacts
- Has not been subject to adequate consultations with local residents
- Does not include a satisfactory noise pollution assessment
- Fails to explain the impacts in neighbouring villages such as Narborough from the increased rail crossing barrier downtime
- Does not provide adequate plans to retain employment benefits in the District
Agri-food firms can tap into funding from new £7.5m pot
Agri-food businesses in Greater Lincolnshire and Rutland can now apply for funding from a £7.5m pot to support innovation and growth.
A partnership of the Greater Lincolnshire Local Enterprise Partnership, New Anglia LEP (covering Norfolk and Suffolk), and the Cambridgeshire & Peterborough Combined Authority has been awarded the funding from Innovate UK under the Launchpads programme.
The programme welcomes SMEs in the region to apply for competitive grants for R&D and innovation projects that focus on agrifood. The grant funding available starts from £25,000, and up to £300,000 is available for projects that provide exceptional impact to the cluster.
To be eligible, projects must make a significant contribution to one or more of the following:
- enhancing the productivity of primary crops, the bioeconomy, livestock, aquaculture or ornamental plants
- biotechnologies related to agriculture, food and nutrition
- food that promotes safe, healthy and nutritious diets
- resource-efficient production methods for low-emission foods
- sustainability in the context of environmental challenges such as climate change and resource scarcity
- protecting, maintaining or enhancing animal welfare within current UK regulatory standard
- nutritional composition, food manufacturing and processing, packaging, and safety
- minimising negative effects such as pollution, food loss and waste
- resilience and responsiveness in the supply chain, mitigating risks, interruptions or disruptions
Storm Babet damages packaging manufacturer’s Chesterfield facilities
Robinson plc, the custom manufacturer of plastic and paperboard packaging, has revealed damage to its Chesterfield premises following Storm Babet.
On 20 October, the river Hipper, which flows by Robinson’s premises in Chesterfield, rose to its highest ever known level and flooded through part of the site.
Part of the premises is occupied by the Group, including the Paperbox manufacturing business and the Robinson head office, with the remainder let to tenants. The Paperbox business represented 4% of the Group’s revenues in 2022. The Group’s plastics business was unaffected.
In a statement Robinson said: “The first and main priority was the safety of those working at the site and the implementation of emergency procedures to mitigate the overall impact. We are pleased to report that despite some challenging circumstances everyone has remained safe.
“Despite the substantial efforts of our employees, there has been some damage caused to facilities, materials and equipment and manufacturing operations have paused. There will be disruption as the site clean-up continues prior to recommencement of operations.
“We would like to thank the Robinson team and our external partners for their efforts and our customers and suppliers for their understanding.”
Leicestershire building products manufacturer produces “resilient” third quarter performance
Ibstock, the manufacturer of building products, has hailed a “resilient” performance in its third quarter, which it says reflects a “continued focus on customer service and execution, coupled with the disciplined management of capacity and costs.”
Market demand in the period was more subdued than expected, seeing sales volumes below those achieved during the second quarter of the year. Despite these weaker volumes, Ibstock notes effective cost reduction action combined with stable pricing resulted in margins for the quarter remaining robust.
The firm added: “The Board anticipates that the benefits of its actions will continue to mitigate demand weakness in the final quarter and, consequently, its underlying profit expectations for the 2023 financial year are unchanged.”
Joe Hudson, Chief Executive Officer, said: “The Group delivered a resilient performance in the third quarter despite a very challenging market backdrop. I am proud of the way that everyone at Ibstock has remained focused on the delivery of a strong operational performance while also ensuring that the Group made continued strategic progress.
“As macroeconomic conditions stabilise, we expect a recovery in market activity, reflecting the significant underlying demand for new build housing in the UK. Whilst we are taking a cautious view around the pace and timing of this recovery, we remain confident in our ability to continue to respond to market conditions, taking the action necessary to protect performance, while ensuring the business remains well-positioned for an increase in activity.”
Leef acquires Nottingham-based lettings business
A property management business has acquired the lettings arm of Hockley Developments, one of the largest supported living and residential development companies based in the East Midlands.
The Leef Property Group has acquired Sherwood Lettings and Management Ltd adding Sherwood’s 100+ units to its existing 3,000-strong portfolio of managed properties, which span from the Midlands to the North East and Yorkshire.
The Warrington-based business, which has operated a local team in the Nottingham area for more than five years, already has experienced agents covering the Midlands region to lease and manage the properties, supported by its head office function.
This latest acquisition is another boost to Leef’s fast ascending trajectory that’s seen it bolster its portfolio by more than 800 managed properties already this year. It’s on track to more than double its current portfolio within the next three years through new relationships with developers, investment companies and sales agencies.
Joe Knowles, co-founder and director of The Leef Property Group, said: “We’ve had a close relationship with Hockley Developments for a number of years and are familiar with its developments, so taking over the professional management of its rental portfolio fits perfectly into our operating model and specialisms.
“We’re expanding rapidly within the Nottingham area, which has a burgeoning rental market. Track Capital’s 2023 report placed Nottingham seventh out of all towns and cities in the UK in terms of rental yields. The average for Nottingham properties is 5.94%, which is well above the East Midlands average of 4.1%.
“As we have a proven scalable model, and unrivalled experience, we believe we have the capability to more than double our operations by attracting a range of clients from asset managers to property developers who are placing new schemes under our full management. Business acquisition is another key part of our future growth strategy.”
Managing Director of Hockley Developments and Sherwood Lettings, Alan Forsyth said: “The sale of our rentals management arm to Leef enables us to focus on our core business strategy, most notably the design and build of Supported Living developments, as well as sustainably led residential schemes.”
Lettings manager Daniella Martin added: “It will also ensure that Landlords will benefit from Leef’s exceptional levels of service, delivered through its well-honed processes and experienced team.”
Future support for businesses and economic prosperity across the South East Midlands assured
Future support for businesses and economic prosperity across the region has been assured this week following a recent agreement by six councils.
This week the SEMLEP Board and Central Area Growth Board (CAGB), the group of Leaders from the area’s six local authorities, approved recommendations for West Northamptonshire Council to be the host authority to take on Local Enterprise Partnership (LEP) functions by 1st April 2024.
These include strategic economic planning, the Growth Hub, which supports and strengthens businesses, and the Careers Hub, which links schools and colleges with employers to create world-class careers opportunities.
The decision follows an announcement from Central Government that it would cease core funding of Local Enterprise Partnerships from April 2024 and for the LEP functions to be delivered by local authorities.
Working in collaboration, the six local authorities – Bedford and Central Bedfordshire, Luton, Milton Keynes, North Northamptonshire and West Northamptonshire – will build on the successes of the LEP to secure the future economic success of the South East Midlands region.
SEMLEP (South East Midlands Local Enterprise Partnership) and West Northamptonshire Council will now prepare for the transfer. Further work will happen over the coming weeks and months, led by the Central Area Growth Board, including shaping more detailed proposals for the engagement of local businesses.
Hilary Chipping, SEMLEP Chief Executive, said: “This decision marks the end of a long period of uncertainty for the SEMLEP team. We remain committed to responding to the needs of local businesses through our Growth Hub and Careers Hub and will work with our local authority partners to ensure a seamless transition to the new arrangements.”
Councillor Jonathan Nunn, Leader of West Northamptonshire Council and Co-Chair of the Central Area Growth Board, said: “SEMLEP has carried out excellent, invaluable work in supporting our region’s many businesses and boosting economic prosperity across our area and all six local authorities are dedicated to building upon those achievements under these new arrangements from spring next year.
“West Northants is privileged to be chosen to host these functions on behalf of all partners, and we will continue to work closely and collaboratively to support and strengthen business communities across our region and shape fresh opportunities for all.”
Councillor Pete Marland, Leader of Milton Keynes City Council and Co-Chair of the Central Area Growth Board, said: “It is important the business services currently provided by the South East Midlands LEP continue to be available and I am very pleased that the six local authorities in the area have come together to ensure that continuity.”
Trustees sought to drive forward Barrow Hill Memorial Hall refurb
Barrow Hill Community Trust is searching for new volunteer trustees to help support the delivery of a major project to refurbish Barrow Hill Memorial Hall.
The Trust is the community development charity for the village of Barrow Hill and surrounding neighbourhoods.
With around £1.8 million of funding through the Staveley Town Deal and National Heritage Lottery Fund, the trust will be refurbishing the historic Memorial Hall to create a new community hub where local people can access a variety of essential support services and socialise together.
Simon Redding, Chair of the Barrow Hill Community Trust, said: “This is a really exciting time for the entire community, our ambitious plans will help create stronger connections in the community and ensure local residents can access the support they need.
“We’re looking for trustees who can spare some of their time to help steer the delivery of this project and ensure we can maximise the benefits for residents.”
The Trust is particularly keen to hear from potential trustees who have experience in capital project management, finance, or communications.
Barrow Hill Memorial Hall was gifted to the community in 1920 by Charles Paxton Markham as a community war memorial that could be used to support the local community.
In 2024 it will be 100 years since the Deed of Trust was approved and to mark the centenary the Trust aims to refurbish the building to serve the community whilst honouring its legacy and past.
Plans for the refurbished hall are extensive including new community spaces, enhanced facilities for young people and children, provision for medical facilities, and classroom space.
Please e-mail info@barrowhill.community to express your interest.
