Upperton joined by Oxford/AstraZeneca COVID-19 vaccine co-inventor to open new development and GMP manufacturing facility
Manufacturing output falls but firms expect modest rise in quarter ahead
- Output volumes fell in the three months to March, at a similar pace to the quarter to February (weighted balance of -18%, from -19% in the three months to February), and disappointing expectations for marginal growth (+4%). Output is expected to rise modestly in the three months to June (+8%).
- Output fell in 11 out of 17 sub-sectors in the three months to March, including the chemicals, motor vehicles & transport equipment, plastic products and metal products sub-sectors.
- Total order books were reported as below “normal” in March and were broadly unchanged relative to last month (-18% from -20%) at a level slightly below the long-run average (-13%).
- Export order books were also seen as below normal and deteriorated relative to last month (-29% from -14%) to below the long-run average (-18%).
- Expectations for average selling price inflation accelerated in March (+21%, from +17% in February)—comfortably above the long-run average (+7%) and to the greatest extent since May 2023.
- Stocks of finished goods were seen as more than “adequate” in March (+12% from +11% in February), with stock adequacy broadly unchanged since the previous month (+12% from +11% in February), in line with the long-run average.
Summer start for major work to regenerate Chesterfield town centre
The next phase of a multi-million pound project to regenerate Chesterfield town centre is set to get underway this summer.
Chesterfield Borough Council’s ‘Revitalising the Heart of Chesterfield’ project – which has already seen good progress on work to refurbish the iconic Stephenson Memorial Hall, as well as improvements to Packers Row – will transform the look, feel and flow of key public spaces.
The detailed timescales are being finalised, but it is expected that work to revamp the town’s historic market place, which includes New Square and Market Square, will start in summer.
Key improvements will include:
- Market Square – the historic market will be revitalised – with a new layout to make it easier to walk around, new stalls with modern facilities for traders, and vibrant new canopies in heritage colours. The plans will also ensure the historic Town Pump is made into a unique feature in this space.
- New Square – the plans will create an attractive and flexible space that will complement the main market and speciality markets, but can also be used to host festivals, events, cultural celebrations, and community gatherings – bringing the town centre to life.
- Rykneld Square – this area will be transformed to create a more welcoming, green space from which to enjoy the much-loved Crooked Spire, and better connect this landmark to the town centre.
- Spire Walk – the council will work in partnership with the Church of St Mary and All Saints to create a more welcoming and attractive space in which to enjoy the iconic Crooked Spire, this includes imaginative new lighting that will enhance the appearance of the spire at night and link into Rykneld Square.
- Corporation Street – improved paving and lighting will revamp this key gateway to the town centre and provide a welcoming environment for visitors to the refurbished theatre and museum. This will provide an attractive and welcoming new gateway to the refurbished Stephenson Memorial Hall.
Attractive lighting, new digital facilities, more greenery, new seating and signage will feature across the regeneration sites – creating a more attractive, welcoming and safe town centre for everyone to enjoy.
Councillor Kate Sarvent, cabinet member for town centres and visitor economy, said: “We’re immensely proud of our town and these widespread improvements will create a revitalised and vibrant town centre that builds on our strong history and heritage, supporting it to thrive for generations to come.
“A lot of work has been happening behind the scenes to get to this stage, including ongoing conversations with our market traders, businesses and residents, and we’re excited to look ahead to a start on site in the summer.
“Chesterfield certainly has positive times ahead, with the major refurbishment work at Stephenson Memorial Hall – home to our beloved theatre and museum – also progressing well.”
The Revitalising the Heart of Chesterfield project will be completed in phases and is due for completion in 2025.
Councillor Sarvent added: “We have a strong track record of making the most of external funding opportunities to invest in the future of our borough, and through projects like the Revitalising the Heart of project this work will bring real improvements for the residents and businesses of our town, while boosting our appeal to visitors.”
The project will complement improvements at the Northern Gateway and Elder Way and – at the other side of town – will connect with plans to transform the area around Chesterfield Station.
Planning submitted for landmark building forming key part of Staveley town centre regeneration
Plans for a new landmark building which would form a key part of the Staveley town centre regeneration project have been formerly submitted.
The new landmark building if approved will form a key part of the £6 million Staveley 21 project which will transform the market place, enhance the connections to the Chesterfield Canal and improve lighting in the town centre.
Funding for the project has been provided through the Staveley Town Deal.
Councillor Kate Sarvent, Chesterfield Borough Council’s cabinet member for town centres and visitor economy, said: “This project aims to transform Staveley town centre – enhancing the area and encouraging more people to visit and support both existing retailers and market traders. Town centres are changing and by trying to expand the offer, creating new opportunities for events and social spaces we want to boost visitor numbers and provide the space for local businesses to thrive.
“We’ll continue to engage directly with local businesses and residents over the coming months to finalise the plans and ensure the project meets their needs, including hosting more drop-in sessions for residents.”
If approved the new landmark pavilion building will sit between the Staveley Miners Welfare building and Staveley High Street as a striking new focal point in the heart of the town centre.
The building aims to reflect Staveley’s heritage with a modern twist, opening the view from Market Street into the town centre. Several uses for the building are currently being considered including as a potential site for Staveley library and is also being considered for retail, leisure, and business start-up uses.
In November regional construction contractor Stepnell were appointed to finalise the plans for the town centre and begin working towards delivery.
Tom Sewell, regional director at Stepnell, said: “We bring vast experience of collaborating with local authorities and partners to enhance public town centre spaces, and, as a complete construction partner, we aim to deliver exceptional quality throughout the design and build.
“By being sympathetic to the needs of residents and businesses in the town, Staveley 21 will enhance the wider package of works as part of the Staveley Town Deal. We look forward to working with Chesterfield Borough Council to deliver the Staveley 21 project, which will generate lasting value to the community.”
The building has been designed by Whittam Cox Architects, who are based in Chesterfield.
Ryan Fish, associate director at Whittam Cox Architects, said: “Our team have meticulously developed the Pavilion building as part of the Staveley centre masterplan with utmost care and consideration. This project presented us with a unique opportunity to influence a scheme close to home, drawing on our intricate knowledge of the local area.
“The result is a contemporary development that not only honours Staveley’s heritage but also serves as a catalyst and hub of activity for future development, aligning with the long-term vision for the area.”
Staveley 21 also includes the transformation of the market place to create an enlarged public space to support existing uses such as Staveley Town Council’s regular markets but also as a setting that can be used to host a wide range of new events to encourage more people to visit the town centre.
Proposals include new tiered outdoor seating to support outdoor theatre and open-air cinema screenings, and natural play equipment to help make the marketplace more attractive to families.
New paving, lighting, street furniture and planting will help create an enhanced atmosphere and visitor experience at any time of day or night whilst new signage will help connect the town centre with Staveley’s other visitor attractions including the Chesterfield Canal and Staveley Hall.
There is also a shop front improvement grant scheme for businesses based in the town centre. Up to 80% of the costs of shop front improvements like new signage, windows, canopies, and much more can be funded through the scheme.
Ivan Fomin, chair of the Staveley Town Deal Board, said: “The Staveley 21 project has the potential to be transformative for the town centre, ensuring that it is a place where local people and visitors will want to spend time whilst also supporting local businesses to grow not only now but in the future.
“Our aim through the town deal is ensuring that Staveley is a place where people can Start, Stay and Grow and the town centre reflects this with something to entice all ages to visit, support local businesses and to help them to grow.”
Streets Chartered Accountants covers Virtual Finance Offices, Working Capital Cycles, Annual Tax on Enveloped Dwellings, and more in new news roundup
Streets Chartered Accountants covers Virtual Finance Offices, Working Capital Cycles, Annual Tax on Enveloped Dwellings, and more in its latest monthly news roundup.
New Virtual Finance Office (VFO) service
We are often asked what is a Virtual Finance Office or VFO? A Virtual Finance Office replaces the more traditional in-house finance department or team, with an external third-party virtual finance team.
Outsourcing your finance function often involves the sending out of work just for processing. In contrast a Virtual Finance Office not only provides the processing of transactions and production of information, but also greater additional financial input, support and advice. Read more.
Every business has a working capital cycle. This is the time it takes for your business to turn net current assets into available cash.
The longer the working capital cycle, the more time it takes for your business to get a robust cash flow. It’s good practice for businesses to manage their cycle by looking at each step where possible. This could be by selling stock or product quicker, collecting monies owed sooner and possibly paying bills later on. Read more.
However, the charge can apply to any UK residential property wholly or partly owned by a company (including a partnership with a corporate member). Read more.
The Budget 2024 – catch up!
Last week Streets hosted a post Budget webinar, providing details of the announcements along with an update on topical issues affecting business clients and private individuals for the new tax year 2024/25.This presentation was recorded and is now available on demand for those who weren’t able to join live. Watch now.
Chesterfield packaging manufacturer sees mixed year
While operating profit before exceptional items and amortisation of intangible assets increased to £2.2m, from £2m in 2022, revenue was down 2% to £49.7m, from £50.5m in 2022. Meanwhile, the company posted a loss before tax of £0.7m, in comparison to a £2.3m profit in the year prior.
Alan Raleigh, Chairman, said: “Robinson ended 2023 with a much stronger business. We improved adjusted operating profits, achieved surplus property sales, and secured the return of the pension escrow account funds to reduce gearing and strengthen our balance sheet.
“We have largely renewed our manufacturing asset base, won important new business with leading FMCG customers and are now seeing sales volumes recover.
“We have taken the necessary actions to make Robinson more resilient, more competitive, and more responsive. As market conditions begin to improve, we are well placed to generate sustainable long-term value for our shareholders.
“Following improved momentum in the second half of 2023, and reflecting the effect of new customer projects and the full year impact of cost savings, the Company expects revenue, and operating profit (before amortisation of intangible assets and any exceptional items), for the 2024 financial year to be ahead of 2023. We remain committed in the medium-term to delivering above-market profitable growth and our target of 6-8% adjusted operating margin.”