East Midlands businesses claim £330m for R&D
East Midlands businesses claimed £330 million in research and development (R&D) tax relief for the 20/21 financial year, according to HMRC’s latest R&D tax credit statistics, analysed by tax relief specialist Access2Funding, a Ryan company.
In the East Midlands, despite business spending on R&D dropping by 10%, from £2bn to £1.8bn, there was an 8% increase in the number of claims made, from 5,595 in 19/20 to 6,045 in 20/21.
The majority of claims were made by SMEs (5,410), with 9% more claims made under the SME scheme in the East Midlands, and SMEs spending 7% more on R&D activities than the previous year.
The average R&D tax credits claim in the East Midlands was worth just under £55,000, a decrease of £5,000.
According to the report, the highest number of R&D claims were made by businesses in the Information and Communication (22%), Manufacturing (21%) and Professional, Scientific and Technical (19%) sectors.
Nigel Holmes, director of Tax at Ryan, said: “It’s refreshing to see how the East Midlands has maintained steady momentum during the Covid-19 pandemic, with more businesses making an R&D claim.
“SMEs have particularly weathered the storm, with 9% more SMEs claiming in 20/21 than 19/20 – reflecting the resilience of the region’s businesses and their ability to adapt and overcome by significantly accelerating the pace at which they innovate.
“As with the UK’s current financial pressures, R&D tax relief can help offset other rising costs and help stabilise future business growth, and the East Midlands has shown it’s in a great position to continue to go up against anything that is thrown at it and ensure that R&D is at the heart of a successful economy.”
The average claim value across the UK is sitting at approximately £74,000, or £54,000 for SMEs. There has been a 7% increase in the provisional estimated amount of claims made compared to last year, from 85,900 to 89,300, driven by a 7% rise in the number of R&D claims made by SMEs.
SureScreen Diagnostics set for national recognition as it’s picked to fly the flag for the East Midlands
Derbyshire medical test manufacturers SureScreen Diagnostics has been recognised as the pride of the East Midlands after it was put forward for a national business award for its rapid growth.
The company, based in Derby, has reached the finals of the British Chamber of Commerce Business Awards, which is a national search for companies who have best typified business excellence over the past two years.
SureScreen was successful at the East Midlands Chamber’s annual awards last year, picking up the Outstanding Growth, Excellence in International Trade and Excellence in Innovation awards, as well as the overall Derbyshire Business of the Year award.
It is now the East Midlands Chamber’s nominee for the national BCC awards’ Rapid Riser award, for companies who can demonstrate exceptional levels of growth and a strong plan for sustainable financial performance.
It is one of 11 companies from across the UK on the national shortlist for the Rapid Riser award, with the winner set to be announced in mid-October.
SureScreen won plaudits after developing the first European Lateral Flow Test to pass Public Health England laboratory validation during the pandemic, however, is known in the medical industry for a wide range of tests from fertility screening to workplace drugs of abuse testing.
Manufacturing out of a new, state-of-the-art production and distribution centre just off the M1, SureScreen exports to more than 60 countries worldwide, and continues to innovate, with recent development of rapid tests for Monkeypox.
Alastair Campbell, a director of the company, said: “We are so grateful to be recognised for such a prestigious award, it is really a testament to the team’s hard work over many years.
“Since the recognition last year we have certainly not stood still, and we are building new technologies and tests that we believe will have huge impacts on people’s health.
“Now that rapid testing is a much more accepted practice across the world, we believe there are huge opportunities for healthcare to increase the prevention of illnesses, by catching issues early using cost-effective, accurate rapid tests. This could help save lives and reduce the costs and pressures on healthcare.”
Property consultancy makes raft of promotions across East Midlands
A property consultancy has announced a raft of promotions in the East Midlands following further success in the past year.
Fisher German has promoted 12 colleagues and six new partners at its offices in Ashby and Market Harborough across all areas of the business.
Rachel Bridge, Iain Long and Richard Gent have become partners within Fisher German’s Infrastructure Services division, Ben Longstaff is now a partner in the Agency division, Angela Brooks becomes a partner within Advisory Services, and Charlotte Gore has been promoted to partner within the Property Management division through her work in agribusiness.
Charlotte said: “I’m really excited to step up to the responsibility of being a partner within Fisher German after 11 years with the firm, and I’d like to think I can be a bit of a role model to young women who may be thinking about getting into agribusiness.
“I’ve always found Fisher German to be incredibly supportive of my career, and my promotion to partner is a great example of the commitment it shows to its staff who have the ambition to get there.
“There’s going to be a lot of challenges and opportunities within agribusiness over the next few years, and I’m looking forward to helping Fisher German continue to grow by grasping those opportunities and helping young staff come through the business.”
James Beverley has been promoted to associate in the firm’s Advisory Services division after helping landowners, land promoters and housing developers complete major development projects.
In the firm’s Sustainable Energy team, Tom Beeley has been promoted to associate after playing a key role in growing Fisher German’s Delivering Net Zero service.
The firm has also strengthened the foundations of its Infrastructure Services division, with its staff making up five of the Ashby office’s eleven promotions.
Laura Knight is now associate partner, Lucy Whitaker and Ellie-May Craddock are now associates, while Liz Ashton and Rebecca Taylor have become senior administrators.
The firm’s Agency division, also in Ashby, that is responsible for selling land for property development has promoted Matthew Handford to associate, and Charles Barton to senior surveyor.
Ian McKenzie and Alex Watts have also been promoted to associate partner and associate respectively in the Property Management and Consultancy division, and Jill Bonser has become senior quality and compliance manager.
The promotions come after the firm’s merger with Matthews & Goodman earlier in the year, which created one of the largest providers of multi-disciplinary property services in the UK, with a turnover approaching £60 million with 29 offices.
Senior partner at Fisher German Duncan Bedhall said: “We are once again pleased to see a high number of people advancing within the firm as part of our career progression framework.
“As our business and Partnership continue to grow, we are seeing an increase in opportunities for our colleagues to develop and progress their careers, with a wide variety of career pathways available beyond the traditional graduate route. It is an incredibly exciting time to be working at Fisher German.”
Browne Jacobson hits top tier in latest Legal 500 rankings
Browne Jacobson has been ranked as a Top Tier law firm in 25 key practice areas in Legal 500 UK 2023, the independent directory of comparative law firm performance.
The firm also continues to underpin its status as one of the leading law firms in the East Midlands region with 16 Tier 1 rankings.
Other highlights in this year’s rankings include:
- Tier 1 ranking for the firm’s Local Government team in London, with the firm now ranked Tier 1 in that region for three public sector areas, including Education and Healthcare.
- First time rankings for Local Government and Energy, Project Finance & PFI in the West-Midlands, Commercial Litigation and Banking & Finance in the North-West and M&A: Smaller Deals up to £50M in London.
- 33 partners ranked as ‘Leading Individuals’, 15 named as ‘Next Generation Partners’, 15 rated as ‘Rising Stars’ and seven individuals listed in the Legal 500 Hall of Fame which recognises partners who are at the pinnacle of the profession.
Oberoi Business Hub welcomes new firms
Oberoi Business Hub continues to welcome several new businesses to their growing community of start up, SME and national firms requiring serviced office accommodation in Derby.
Among the latest companies to join the Oberoi Business Hub community in Pride Park is family-owned AHP Group consisting of AHP Healthcare, AHP Homecare, AHP Supported Living and AHP Recruitment, who were keen to expand into the East Midlands having established their award-winning healthcare recruitment agency in Essex with their sister company SRP Healthcare.
Under AHP Healthcare the company places agency nurses and support staff into care homes and supports private clients with care at home services under AHP Homecare. AHP Recruitment also supplies HGV drivers and warehousing staff to a wide range of customers and future growth plans include the introduction of supply teachers and support staff for schools, hospitality and construction industries.
Director Sheel Phakey, who runs AHP Group alongside his wife and son, explained: “The family is from the East Midlands and we obviously know the area well so were keen to come back to our roots in the next stage of our company growth.
“Pride Park with its excellent transport links with plenty of parking on site so we are looking forward to capitalising on the buoyant economy in the East Midlands – both in the expanding healthcare sector and the new opportunities that are taking place in warehousing and logistics across the region.”
Director Aran Phakey, who heads up the Midlands Division, continued: “Oberoi Business Hub’s location in Pride Park is perfect for us. The team are incredibly helpful and take care of all the accommodation so that you can concentrate on running your own business.
“We particularly value the availability of meeting and conference facilities and we have the flexibility to upgrade our office accommodation as the team here grows.”
Oberoi Business Hub manager Jodie Brady added: “Our goal is to provide high quality yet affordable business premises with a prestigious address and a wide range of services that facilitate growth and job creation in the local area.
“Throughout this year, we have welcomed many new customers and received requests for additional office space and services from our existing customers which is a reflection of the continued business confidence and is good news for the whole city and surrounding area.”
East Midlands Pharmaceutical company acquired by counterpart
Loughborough-based Morningside Pharmaceuticals has been acquired by UK counterpart Aspire Pharma.
The acquisition includes Morningside Pharmaceuticals (Loughborough), Morningside Healthcare (Leicester) and Morningside Healthcare (India) (together referred to as “Morningside”); privately owned, speciality generic pharmaceutical organisations.
Commenting one the acquisition, Tim Brady, Chief Executive Officer, Morningside said: “Aspire’s acquisition of Morningside is validation of the long-term growth plan that the shareholders and management of Morningside Pharmaceuticals and Morningside Healthcare have developed over the past 30 years. The combined company will benefit across several areas, including the realisation of enhanced business development capabilities with over 120 complementary mid and late-stage programs”
Richard Condon, Chief Executive Officer of Aspire Pharma added: “We are excited to welcome the Morningside team to the Aspire family. This is a transformative opportunity for both companies to expand and enhance our position as a result of both companies highly complementary product portfolios. The combination will create one of the largest and fastest growing UK pharma companies and see further accelerated growth potential in our current and future product portfolio, in the UK and internationally. Our commitment remains with our team, patients, and our partners in the NHS and beyond, to ensure a smooth integration of businesses”
Respective organisations will continue to operate as standalone businesses until further integration and transition announcements are made.
Aspire is present in the generics, speciality generics, branded medicines, and medical device sectors. Aspire’s investors include founder Graham Fraser-Pye; Juno Pharmaceuticals, a global pharma specialist organisation spanning four continents, focussing on niche differentiated products and H.I.G. Capital, a leading global alternative investment firm with over $50 billion* of equity capital under management. Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the USA, as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo.
Sofware provider secures funding from MEIF Maven Debt Finance
Nottingham-based Retail Assist has secured a funding package from MEIF Maven Debt Finance which is part of the Midlands Engine Investment Fund and managed by Maven Capital Partners, is aimed at smaller and medium-sized enterprises across the region that have high growth potential.
Retail Assist provides award-winning IT and software solutions to leading brands in the retail and hospitality sectors. Established in 1999, the business offers a full range of managed services, including service desk support, desktop support, full IT outsourcing, cyber security services, retail systems support, project management services, technical services, and operations support. Clients include well-known brands such as Pizza Hut, Morrisons, Ted Baker, Vue Cinemas, and Harvey Nichols.
Retail Assist will use the funding to maximise its opportunities to grow the business further, investing in new services and technologies, reach more clients, and capitalise on additional opportunities with existing retail partners.
The UK retail industry is a significant contributor to the UK economy, employing over 3 million people. Estimates place the total value of last year’s retail sales at more than £420 billion, highlighting the importance of well-integrated and protected IT infrastructure as retail business moves increasingly online. Retailers’ need for experienced IT providers, capable of supporting them to streamline their user experience and fulfil customer demand, will therefore only increase in the long term.
Richard Brighty, Investment Manager for Maven said: “Retail Assist presents a fantastic growth opportunity. Retail Assist have developed a market leading innovative suite of software solutions combined with a large UK team providing development and support services. The business is well positioned to benefit from the upturn in the retail industry following a challenging period during Covid-19. Maven’s investment follows on from additional investment from the Foresight Nottingham Fund, which initially supported the company in 2017.”
Kevin Greathead, Managing Director for Retail Assist, adds: “As a retail and hospitality specialist, Retail Assist has been providing IT managed support services to the retail and hospitality community for over 23 years, now supporting almost 40 established retailers and brands. Our objective is to deliver services through an experienced, UK-based team who are passionate about shifting the dial on user experience. Our relationship with Maven will allow us to invest further to maximise opportunities to grow the business, introduce new technology solutions and reach new customers and markets. We see very exciting times ahead.”
Lewis Stringer, Senior Manager UK Network at the British Business Bank said: “Innovative technology companies, such as Retail Assist, provide essential services for businesses globally. MEIF is committed to supporting such companies and unlocking growth opportunities for them. Other Midlands-based companies with similar potential for scaling should consider the finance options available from MEIF.”
Will Morlidge, Chief Executive at D2N2 Local Enterprise Partnership added: “I’m delighted that Retail Assist is being supported by MEIF. We know that growing the digital capability of all sectors of the economy is vital to promote sustainable economic growth, and the retail sector is no different. We’re investing heavily in digital skills precisely so our area can provide the talent that ambitious businesses such as Retail Assist will need to keep on growing.”
New high profile non-exec chair for law firm
Law firm Browne Jacobson has appointed leading General Counsel (GC), Anneliese Reinhold as the first Non-Executive Chair of its corporate sectoral strategy board, the first of several sector-driven appointments.
Working closely with partner Declan Cushley who leads the firm’s corporate sector market group, Anneliese will bring strategic commercial, regulatory, legal and governance expertise to support the firm and its lawyers in driving the firm’s corporate sector strategy.
Anneliese, who qualified as a corporate lawyer in Australia in 1989, has worked with a diverse client base that includes start-ups, high growth businesses, large global listed and non-listed companies, spanning across Europe, the Middle East, USA and Australasia both as a General Counsel and a City law firm Partner. She is the former Chairman of the global Board of the Association of Corporate Counsel (ACC), the world’s largest in-house counsel organization (45,000 members in 85 countries), until August this year was the most senior female executive of leading multi-billion turnover telecoms operator, du; is a founding investor and member of the Investment Committee at specialist tech ‘Micro-VC’, Dubai Angel Investors; and is also a Member of Council for the Institute of Directors (IOD); and member of the advisory Board at the high growth Legaltech startup App4Legal. She is described as a ‘bastion for diversity’ by The Legal 500’s GC Powerlist: Middle East, has been profiled as the one of the Middle East & Africa’s 20 leading women in the ICT sector, and has featured in LegalEra’s definitive guide, World’s Best General Counsel.
This appointment endorses the firm’s commitment to making the legal profession more diverse and inclusive. It also follows on from its official partnership with O Shaped in May 2022, an innovative movement with a mission to drive positive change within the legal sector.
In 2021, the firm also launched its revolutionary FAIRE (Fairer Access into Real Experience) initiative which aimed to change the way law firms recruit future talent and grow an industry-wide culture of inclusivity. FAIRE aims to support social mobility, offering students equal access to work experience that can pave the way for a career in the legal sector. It led to the firm being named the UK’s number one social mobility employer.
Speaking on the appointment, Declan Cushley, said: “We are delighted to have someone with Anneliese’s wealth of experience join us.
“Anneliese’s appointment and the future NED appointments reflect our commitment to re-think the traditional lawyer/client relationship. Anneliese and our other NEDs will help challenge our approach, supporting and influencing change.”
Browne Jacobson senior partner, Caroline Green added: “Anneliese’s track record as a senior board member is impressive and inspiring. We have worked hard over the past few years to build a more inclusive culture within our business and beyond, so it is fantastic to welcome Anneliese to our business sector board as well as three further female Non Executives in the near future.”
On joining Browne Jacobson, Anneliese commented: “Browne Jacobson have an excellent reputation for going the extra mile for their clients and for giving clear high quality legal advice on complex projects, but they are also a firm who have a real appetite for innovation and doings things differently. They recognise the need for the legal landscape to change and become more relevant to their clients and the sectors they serve; they are well versed in delivering advice to their clients in a pragmatic and straightforward way, but they are also recognised experts in those sectors too. I am excited to be supporting the firm in developing their approach.”
Construction company fined £80,000 after worker falls through fragile roof
A construction company from Leicestershire has been fined £80,000 after an employee suffered serious injuries falling through a fragile roof.
An employee of Cairns Heritage Homes Limited was carrying out a repair to the roof of Nottingham Recycling Limited on 1 August 2019 when he fell approximately 7m to the floor below.
A scaffold tower had been constructed for access to the roof but there were inadequate measures in place to ensure that the work would be completed safely.
The worker accessed the roof, attempting to devise his own ad-hoc working methods which included constructing a makeshift ladder/staging system from wooden planks.
An investigation by the Health and Safety Executive (HSE) found that Cairns Heritage Homes Limited had been contracted to repair the roof of the recycling plant while a ‘bailing machine’ was not being used.
Serious deficiencies in the planning and supervision of this work were identified together with the absence of a safe system of work.
There were insufficient measures to prevent a fall or minimise the distance or consequences of a fall such as safety netting. The makeshift staging provided by the employee was insufficient and failed to prevent a fall through the fragile roof panels resulting in them sustaining serious injuries.
Cairns Heritage Homes Limited, of Rectory Place, Old Parsonage Lane, Hoton, Loughborough, Leicestershire pleaded guilty to breaching Section 2(1) of the Health and Safety at Work etc Act 1974. They were fined £80,000 and ordered to pay costs of £9,981 at Nottingham Magistrates’ Court on 28 September 2022.
Speaking after the hearing HSE inspector Philip Gratton said: “Work on fragile roofs accounts for around a fifth of all fatal incidents that occur in the construction industry.
“Those in control of work on fragile roofs and other work at height have a responsibility to devise safe methods of work and to provide the necessary information, instruction, training, and supervision of their workers.
“If a suitable safe system of work had been in place prior to this incident, the life-changing injuries sustained by the employee could have been prevented.”
Howes Percival recommended for 23 different legal specialisms in The Legal 500
The 2023 edition of The Legal 500 – the authoritative guide to the UK’s leading law firms – has recommended Howes Percival for 23 different legal specialisms and awarded the firm top tier ranking for 10.
The guide, which is based on independent research, interviews and feedback from clients about the service they receive from firms and lawyers, also recognises the UK’s leading lawyers – 77 Howes Percival lawyers received specific mentions in this year’s directory.
Howes Percival has achieved top tier rankings for:
- Corporate and Commercial
- Dispute Resolution – Commercial Litigation
- Dispute Resolution – Debt Recovery
- Finance – Insolvency and Corporate Recovery
- Human Resources – Employment
- Private Client – Tax, Trusts and Probate
- Real Estate – Commercial Property
- Real Estate – Environment & Planning
- Real Estate – Property litigation
- Intellectual Property
