Ashfield District Council’s Moor Market in Kirkby is set to be home to a new banking hub.
Last year, Kirkby in Ashfield was chosen as a location for one of 68 new banking hubs across the UK, owned by Cash Access UK.
The banking hubs are shared spaces on the high street that allow customers of multiple banks to deposit and withdraw money, get face-to-face help, and carry out regular banking transactions. They also have a private room available for one-to-one discussions.
Ashfield District Council have been working with Cash Access UK to find a suitable location, and now the planning application for the hub in Kirkby has been submitted to the Council. The new banking hub will allow more residents and businesses access to their money, without having to travel out of Kirkby.
Cllr Jason Zadrozny, Leader of Ashfield District Council, said: “We are delighted that the planning application for the banking hub at Kirkby has now been submitted. We know that so many residents have struggled with the lack of face-to-face banking in Kirkby since the banks closed, and the banking hub will make a huge difference to people’s lives.
“It’s not just residents who will benefit from this hub, our small businesses will also be able to utilise it. This is an exciting step towards the hub opening in Kirkby.”
Nottinghamshire manufacturer sold to Portuguese company
Duke Capital, a provider of hybrid capital solutions for SME business owners, has revealed the successful exit of its investment in Meteor HoldCo Limited, the 100% owner of Fabrikat (Nottingham) Ltd, a manufacturer of street lighting columns and guard rails.
The exit comes three years after Duke’s financing solution enabled Fabrikat’s established management team to become majority equity owners.
Fabrikat is being acquired by Metalogalva – Irmãos Silvas, SA, a Portuguese company in the area of engineering and steel protection with more than 50 years of history and operations spanning across 14 countries and four continents.
Neil Johnson, CEO of Duke Capital, said: “Fabrikat is a real success story for Duke and a great case study for why Duke’s capital is a perfect fit for individuals seeking to execute an MBO.
“Our capital allowed long-standing employees of a strong business to step up into large equity ownership positions and in that role, they continued to prove themselves as great stewards of the business, creating value for all stakeholders. In turn, we are pleased to build on our already robust track record of achieving above-average returns on exits.”
Duke had invested a total of £6.2 million in Fabrikat to date.
Paul Allen, CFO of Fabrikat, said: “We would like to thank Duke Capital for buying into our vision in a way which motivated us to drive significant growth in the company. Duke’s capital enabled us to execute the MBO while the team supported us by becoming partners in our growth and success.
“Initially we went through a very competitive process but only Duke Capital’s offer allowed us to keep 70% of the business that we had spent years crafting as the senior management team. And to top it off, we were able to keep control of the timing of the sale and the counterparty to whom we entrust the future of Fabrikat and our employees.”
Training provider moves to larger Chesterfield premises
Skills and employability training provider DBC Training is expanding into larger Chesterfield premises, following successful growth in the town.
The organisation will move into new offices at Markham House in the centre of the town, allowing more learning space for the business to deliver its courses.
Commenting on the expansion of the business, Luke Brailsford, Senior Performance Manager at DBC Training, said: “As a business we are growing, and we see Chesterfield as a key part of our growth plans. The investment in our new premises supports this, offering more learning space for us to deliver high-quality employment and skills training courses in Chesterfield.
“This supports our ultimate aim to support local residents back into employment and to help more employers upskill their workforce through our award-winning apprenticeship service.
“We are still in Chesterfield Town Centre, on the top floor of Markham House. There are many benefits to this move, however, key ones being more space and room for the courses we deliver, along with being centrally located and close to partners that we work with.”
DBC Training has been delivering employment and skills training since 2000. The business matches skills training to local job vacancies and offers a range of courses to help unemployed people transition into work.
Legal and financial services business moves into Chesterfield’s Northern Gateway Enterprise Centre
A new legal services business has moved into Chesterfield’s Northern Gateway Enterprise Centre.
Clearlines is a first for the UK Care market allowing care providers to help their clients as they transition into care by providing them with with an assessment of their legal and financial foundation and offering them an opportunity to mitigate any of the issues that may have arisen in the assessment.
The business was founded last year and is part of the W & P Legal Group. W & P Legal specialises in legal services for later life planning. As such, a lot of the firm’s work was helping clients prepare for entering care or helping them transition a loved one into care. From this experience came Clearlines.
Tom Ash, Director, Clearlines Solutions LTD, said: “Clearlines is still a new product but we are starting to forge partnerships with national care brands and launching the service with several care providers. As such we have already outgrown our home office.
“We feel that the move to Northern Gateway Enterprise Centre is a statement of intent for our new company. We will grow into our new premises, we will contribute to our local community and we will create jobs within Chesterfield.
“The location of Northern Gateway Enterprise Centre was our main attraction. Its central location meant that it puts us in the heart of Chesterfield. The proximity to the train station is also a huge benefit. As we welcome colleagues from the rest of the W & P Legal group it means they are just a skip away from our new home.”
Rothera Bray donates over £5,000 to Headway to continue providing vital services to brain injury sufferers
Rothera Bray has recently donated over £5,000 to Headway Nottingham, both in memory of a former colleague and as part of its appeal to raise funds to continue providing invaluable support for brain injury sufferers across Nottinghamshire.
Headway Nottingham is a charity that provides rehabilitation, support, and outreach for people affected by brain injury in Nottingham and Nottinghamshire and is the only longer-term brain injury support service in Nottinghamshire. The charity provides help to individuals who are adjusting to life with a disability following a brain injury and supports them in navigating the world after this trauma.
Due to financial challenges because of the Covid-19 pandemic and the current fundraising landscape, Headway Nottingham faced closure at the end of March 2024. As a result, the charity asked for donations to help it reach its target of £26,000 so that it can continue to operate and provide support and services to brain injury sufferers and their families.
Rothera Bray has close links to the charity, with the firm’s Personal Injury team referring clients who have suffered brain injuries to the charity for additional support and Partner and Head of Personal Injury Greg Almond being a Trustee of Headway Nottingham.
Rothera Bray’s £5,182.24 donation consisted of two donations. £2,682.24 was donated from the firm’s residual balances fund, with a second donation of £2,500.00 made by the firm in memory of Karen McGarvey, a member of staff who died unexpectedly, with her husband and son nominating Headway to receive the donation.
Charlotte Leask, Services Manager at Headway Nottingham, said: “Rothera Bray’s support is already making a tangible difference to the lives of the Nottingham brain injury community. The importance of their generosity and kindness in contributing to our Urgent Appeal cannot be overstated and will produce empowering and life-changing outcomes for an otherwise marginalised and vulnerable group of local people.
“Every 90 seconds in Nottingham and throughout the UK someone is admitted to hospital with an acquired brain injury, but despite this Headway Nottingham remains the only rehabilitation and support service available in our area without a time limit. We are here for as long as each person needs us.
“The potential loss of our charity presented a devastating prospect for those who rely on us, however, Rothera Bray’s support has helped ensure that our invaluable small charity will continue to exist for our current clients as well as the hundreds of people who will need us in the future. We are exceptionally grateful to Rothera Bray for their tremendous support and for recognising the indispensable nature of our wonderful charity.”
Greg Almond said: “As a long-standing supporter of Headway Nottingham we wanted to urgently provide financial assistance so that the vital services Charlotte and her incredible team provide, can continue. We are so pleased they have hit their fundraising target.
“Rothera Bray will continue to provide ongoing support to ensure this amazing local charity can thrive in the future.”
To donate to Headway’s appeal, visit: https://www.headwaynottingham.org.uk/Appeal/urgent-appeal
A Budget built on loss leaders or a leadership that might have lost its way? Was it more ‘Middle Lidl’ than Middle England?
James Pinchbeck, partner at Streets Chartered Accountants, comments on the Spring Budget.
The headline grabbing announcement from the Chancellor Jeremy Hunt’s Spring Budget, and perhaps his last before an election, was the 2% cut in rate of National Insurance (NI). This second cut follows a similar cut given in last year’s Autumn Statement and comes with an election looming.
For some it might have felt like that ubiquitous loss leader that retailers prompt to get you to buy so as to take your mind off the fact that whilst making such a purchase, perhaps one you hadn’t intended to buy, you might buy something else at higher price and margin. In this case, the reduction in NI perhaps coupled with the freezing of alcohol duty, the fuel price cap and changes to child benefit are all sweeteners to give us a sense that things are getting better and we are better off than we might be really.
This aside there were a number of key announcements that will affect both businesses and individuals.
The freeze on alcohol duty no doubt will be welcome for both consumers and the licenced trade. Perhaps though more could have been done in light of the cost-of-living crisis and the impact it is having on our pubs, clubs and eateries.
Plans to scrap the furnished holiday lets regime perhaps comes with a double edged sword in that hopefully it can address the issue of access to affordable homes for those living in holiday destinations, but equally will it adversely affect the provision of holiday accommodation for holiday makers.
Turning to property, there was a reduction in the higher rate of property capital gains tax from 28% to 24% – a move aimed to stimulate the market for sales of properties caught by the higher tax rate. The Chancellor also announced the abolition of stamp duty relief for those buying more than one dwelling, a relief known as the Multiple Home Relief.
Many small businesses including the self employed will have welcomed the news that the VAT registration threshold will rise from £85,000 to £90,000 from the start of April.
For those businesses looking to invest in plant and machinery, whilst no date was given as to when it might come into effect, the Chancellor stated that plans were in place to draft new legislation so that leased assets could be included in Full Expensing for the purchase of plant and machinery.
Whilst this may not affect many reading this, Jeremy Hunt confirmed the non-domiciliary status will be abolished and it will be replaced by a ‘simpler and fairer’ system from April 2025. The current system means that those living in the UK with overseas links and financial interest only pay UK tax on money earned here, going forward they will be required to be taxed on worldwide income.
For those engaged in the creative industries sector, news of the £1bn additional tax relief must have been as good news as perhaps being nominated for a BAFTA. Not least that measures include a tax credit for UK independent films with budgets under £15m.
Also announced was a 40 per cent relief on gross business rates until 2034 for eligible film studios. The Chancellor also said the government will remove the 80 per cent cap for visual effects costs in the audio-visual expenditure credit.
When it comes to the public sector though it would seem the only real beneficiary was the NHS with a commitment to a public sector productivity plan. There were no real announcements around the much needed support for education, skills, emergency services, nor our local authorities, all facing the pressures of the cost of living crisis and often increasing demands.
Overall, was it a Budget to gain or even regain voter confidence, or did it fall short? Did it feel more like a government that is tired and lacking ideas and one that has perhaps lost its way?
Perhaps we will know more over the next few weeks and months on the run up to the 2024 election.
For the devil in the detail there is still time to book for Streets Chartered Accountants’ post Spring Budget webinar which takes place from 11am until 12noon on Thursday 07th March.
Register to join us live and/or to receive a post broadcast recording to watch on catch up. https://www.streetsweb.co.uk/about/events/spring-budget-2024/
Grants launched for North Northamptonshire businesses looking to reduce carbon emissions
North Northamptonshire Council have launched the latest round of a grant scheme to help local businesses to increase energy efficiency, move to a lower carbon economy and reduce greenhouse gas emissions.
Small or medium sized businesses can now apply for grants up to £5,000 towards 50% of project costs, with the remaining amount to be match funded by the business.
The funding can be used for:
- lighting and lighting controls
- heating and heating controls
- insulation
- energy efficient machinery and equipment (e.g. air compressors)
- solar panels
- heat pumps
- biomass boilers
- energy storage
- building energy management systems
Business development expert joins NLT board
Mel Archbould, owner and Managing Director of Cloud-busting, a business scale-up consultancy based in Chesterfield, has joined NLT Training Services’ Board of Directors.
Mel joins the five-strong board and will play an active role in advising on and shaping the training provider’s strategy for its future growth and charitable activities across the East Midlands and Humberside.
She brings more than 17 years’ experience as managing director of her family business, Palamatic, and now her own consultancy, Cloud-busting, to NLT which was established in 1968.
Mel Explained: “I have been on a journey myself and learned a great many lessons which are transferable to other organisations, including NLT. I am excited to now be part of NLT’s journey.
“There are a wealth of opportunities waiting for NLT to bring to so many adults in careers that require certification and validation of competence to carry out their role. I am looking forward to working with the board to help structure and focus on how that continues as NLT approaches its sixtieth year.”
Mel is no stranger to NLT having used the organisation as a mechanical engineering training provider at Palamatic. In addition to its range of industry-accredited Health and Safety courses, including CCNSG, CSCS and MPQC/SPA, most recently NLT has seen an increased demand for CMI-accredited leadership and management training, both nationally and in the local area. Welcoming Mel to the board, Sarah Temperton, Chief Executive of NLT Training Services said: “NLT has taken a significant and exciting change in direction in recent years. I am delighted that Mel has joined our Board of Directors. Her experience and profile reflect NLT’s future ambitions and focus for growth as well as helping us continue to meet our charitable objectives.”Construction company expands at Oberoi Business Hub
A Derby company, which specialises in refurbishing social housing properties across the East Midlands, has expanded into larger serviced offices at Oberoi Business Hub in Pride Park in line with its growing customer base.
Gratton Construction was launched in April 2022 by experienced surveying and construction professionals Jody Waldron and Kirsty Howard and relocated to Oberoi Business Hub last summer.
The company recently added another major refurbishment and on-going maintenance contract to its growing customer base of local authority and housing association clients across the Midlands which prompted a recruitment drive.
The larger offices at Oberoi Business Hub will house the current team of nine with capacity to accommodate even further growth.
Operations director Kirsty Howard explained: “Just six months after moving our operations to Oberoi Business Hub, we have secured several contracts including a two-year programme to handle kitchen and bathroom replacements and general building repairs for a major social housing provider in Derbyshire and Leicestershire.
“This has enabled us to re-structure the business into north and south divisions with site supervisors and coordinators in both and our first directly employed trades people.
“We were keen to stay at the Oberoi Business Hub which has been a factor in our business growth. As well as a prestigious business address and central location our team have benefited from high quality serviced office space, a great support team, plentiful parking and even electric vehicle chargers.
“Having experienced such rapid growth, the team at Oberoi Business Hub have gone out of their way to accommodate our urgent need for larger office space and we are grateful for their flexibility.
“As a young growing business, it is vital to have the right support services around us who are responsive to our needs.”
Oberoi Business Hub founder and managing director Kavita Oberoi OBE continued: “Our goal has always been 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.”
Hub manager Jodie Brady concluded: “We recognise that flexible support can be the difference between growth or stagnation for our SME hub community and will find ways to accommodate our clients wherever we can to ease the challenges of their business journey from office space to call answering and other support services as required.”
Tree scheme helps dairy’s work to boost environment and biodiversity
One of Britain’s most famous dairies – Leicestershire-based Long Clawson Dairy, producers of world-renowned Stilton – is playing a leading role in helping to plant more trees in the county.
The farmer-owned co-operative has received 75 trees from Leicestershire County Council’s free trees scheme, which are being planted across six of the farms supplying the milk for the world-famous cheese.
Ruth Grice from Long Clawson Dairy said: “It’s a great feeling to work in partnership with Leicestershire County Council’s trees team to increase wildlife habitats in our supplier farms. In total, 22 of our 33 supplier farms are based in Leicestershire, covering over 3,300 hectares.
“It would be great to see even more new trees being planted across them during the 2024/25 planting season.”
Many of Long Clawson Dairy’s farms lost a significant number of trees in the 1970s due to Dutch elm disease, and are now suffering losses caused by ash dieback. Planting new trees on the farms to make up for the losses and to increase tree numbers is now a big priority for the dairy co-operative over the coming years.
In 2022, Long Clawson Dairy recorded just over 3,500 trees across its 33 supplier farms in Leicestershire and Nottinghamshire. They also measured nearly 300 miles of hedgerows – enough to stretch from Long Clawson to Glasgow.
Ruth Grice said: “Thanks to Leicestershire County Council’s free tree scheme, we know we will be adding 75 trees to this total in 2024. Some of our farms have been taking part in the free tree scheme for over 10 years – with many of the original trees now providing perches for birds to sing from, branches to nest within and berries to feed from.”
The trees have been provided as part of the council’s ongoing free tree scheme for farmers and rural landowners across the county. Larger landscape trees are provided for replacing trees lost to disease or to enhance tree cover across farms and the rural landscape. A mixture of native trees suitable for a range of site conditions are offered by application.
