West Northamptonshire Council (WNC) has launched a Rural Business Grants programme to support businesses in the most rural parts of West Northants to diversify and grow.
Utilising £919,772 of UK Shared Prosperity (UKSPF) and Rural England Prosperity Funding (REPF), this programme will provide up to 50% of equal match-funding of between £2,500 and £100,000 to businesses located in Defra’s designated rural areas within West Northamptonshire.
Grants can be used to support the building and equipment of capital projects, for example converting a farm building for an alternative business use such as a business hub, wedding venue or for hospitality; growing rural tourism; the acquisition of food and drink processing equipment; or the purchase of commercial grade equipment to increase productivity. All projects and expenditure must be complete by 31 March 2025.
To secure a grant, applicants will need to check the eligibility criteria on the WNC website and complete an online application form. This will be appraised with a final decision made by a Grant Decisions Panel which will include representatives from both local businesses and the Council.
The Rural England Prosperity Fund is a ‘top up’ to the UK Shared Prosperity Fund provided by Defra and managed for the Government by the Department of Levelling Up, Housing and Communities (DLUHC) to support the Government’s levelling up agenda. It is intended to provide investment for identified rural areas facing additional challenges and can be used alongside UKSPF funding.
Cllr Daniel Lister, Cabinet Member for Economic Development, Town Centre Regeneration and Growth, said: “We appreciate the unique challenges rural businesses face which is why we’ve chosen to dedicate this funding to support and enable them to diversify and grow.
“Our ambition is to enable every business in West Northamptonshire to thrive and for this reason we have allocated the majority of our UK Shared Prosperity and Rural England Prosperity funding towards supporting businesses and creating employment opportunities to sustain the local economy.
“We are dedicated to providing high quality support, training and guidance and wherever possible, funding to enable our local businesses to fulfil their potential and I encourage all those who qualify for this match-funded grant to apply.”
The Council has appointed Ngage Solutions Ltd to manage the Rural Business Grants programme.
Will Dallimore, Rural Business Development Manager at Ngage Solutions Ltd, said: “This is a great opportunity for rural businesses in West Northamptonshire and I look forward to supporting businesses through the process.
“Ngage Solutions has worked with rural businesses in West Northamptonshire for over 7 years through the LEADER project and it will be my pleasure to continue this support and deliver the Rural England Prosperity Fund which will provide a well-needed boost for the rural economy.”
Ashfield District Council have revealed the initial artist impression for the refurbishment and upgrade of Sutton Community Academy’s theatre.
Ashfield District Council secured the funding to upgrade the theatre, which will be rebranded and opened to the public as Cornerstone Theatre, as part of their £6.27million Future High Streets Fund.
The Council are working with Sutton Community Academy on the plans for the project. As part of the improvement work the theatre will be completely renovated and reconfigured to create a new multifunctional community space that will accommodate a wider range of high-quality performances and acts.
The new theatre will allow residents and visitors to watch professional theatre performances, cinematic experiences, music and comedy nights, as well as other community uses.
New dressing rooms and a green room, toilets – including a changing places room, foyer and box office will be created to accommodate the improved theatre. Inside the theatre itself the auditorium will be completely refurbished with new flooring, ceiling, acoustic wall treatments and doors. A new retractable seating system will provide around 200 seats, and specialist lighting will also be installed.
Cllr Jason Zadrozny, Leader of Ashfield District Council, said: “We are incredibly pleased to be able to release the details of the last of our Future High Streets Fund projects. So far we have delivered the renovation of the former Yorkshire Bank in Sutton, the old DWP building on High Pavement, and we are currently transforming another long-vacant unit on Low Street.
“The Cornerstone Theatre project is the cherry on the cake, it will allow more residents to access quality cultural events and productions, without having to leave Ashfield.”
A planning application will now be submitted to the Council in the coming days before work can start on the refurbishment. Work is expected to start in summer 2024, with a finish date of early 2025.
Cllr Matthew Relf, Executive Lead for Growth, Regeneration, and Local Planning, said: “This project will help us achieve our goals of creating a vibrant and safe night-time economy in Ashfield.
“As the new Planetarium will connect young people to space and raise their aspirations, Cornerstone Theatre will ignite their creativity and broaden minds. We are so proud to be investing in arts and culture, to allow more people of all backgrounds, young and old, in Ashfield and beyond to experience the magic of cinema, live theatre and music in an easy to access place.
“All our regeneration projects, funded through over £100million external investment, have the common aim – to create an Ashfield that is a great place to live, work, play, study and visit.”
Simon Martin, Vice Principal at Academy Transformation Trust Further Education (ATTFE), said: “ATTFE is hugely excited to be involved in the inception and the future running of the Cornerstone facility. Sutton-in-Ashfield and the surrounding area has long needed investment in and opportunities for cultural experiences of all sorts, and Cornerstone will provide these for the direct communities, neighbourhoods, and families that we serve.”
Image courtesy of Ashfield District Council
Specialist business property adviser, Christie & Co, has sold The Firs Residential Home in Derbyshire.
The Firs is a ‘Good’ rated residential care home registered for 28 service users. It occupies a two-storey, detached property with 25 bedrooms, six of which have en suite facilities, and includes a garden area with a covered pergola for the residents to enjoy.
The home is located in the large Derbyshire village of Breaston, circa seven miles east of Derby and eight miles west of Nottingham.
The Firs has been owned by Yvonne Dunbar for 17 years and was brought to market to allow her to retire.
Following a confidential sales process with Rosie Turner at Christie & Co, it has been purchased by first-time buyers, Dr Daljinder Bajwa and Gurpreet Singh Jassal.
Yvonne Dunbar, former owner of The Firs Residential Home, says: “I bought the home 17 years ago and, since then, the team and I have grown it considerably – adding eight more bedrooms and developing its reputation into the well-known, well-regarded home that it is today.
“I decided to sell to retire and couldn’t be happier to hand it over to Gurpreet and Daljinder who, I’m sure, will maintain the high standards that we’ve set and carry on growing the business. I wish them all the best.”
Rosie Turner, Senior Business Agent – Care at Christie & Co, says: “Having built a relationship with Yvonne over the years, I am delighted to have been able to assist her in the retirement sale of her beloved home, The Firs. We ran a confidential marketing process which received a good level of interest due to the home’s profitability and desirable location.
“This is another great example of the demand that exists for smaller homes in the East Midlands. While there are new challenges within deals, such as the interest rate rises and wider economic factors, signs still point towards a positive outcome for smaller going concerns within the region.
“It also shows that a new operator with great experience and business ideas, like Gurpreet and Daljinder, can still raise funding to acquire their first home. I wish Yvonne the happiest of retirements and look forward to seeing Gurpreet and Daljinder grow the business.”
The Firs Residential Home was sold for an undisclosed price.
The Superbia Group, based in Leicester, has expanded its reach in the South East by acquiring Headley Financial Services Ltd, with new funding from Shawbrook.
Established in 2019, The Superbia Group is a collective of financial services companies including Asset Intelligence Research, Asset Intelligence Portfolio Management and Financial Advisers, Furnley House.
Shawbrook had provided funding for previous acquisitions and has now further supported the group with a flexible solution that delivered a day-one credit facility worth £6.7m with an additional committed facility. This will enable the acquisition of Headley and support the management team to continue its growth strategy via future acquisitions.
Stefan Fura, Managing Director at The Superbia Group, said: “The Superbia Group has ambitious growth plans with a particular focus on expanding in the Midlands and South East. Shawbrook understood our strategy and structured a package that combined the funding immediacy for our first acquisition in the South East with a committed facility for our longer-term plans.”
Matt Croker, corporate finance director at Heligan Group, added: “It was a pleasure to work with the team at Superbia and Shawbrook to help deliver Superbia’s 5th acquisition in less than twelve months.
“The acquisition provides Superbia with a scalable platform in the South East for further bolt-on acquisitions and Shawbrook’s team had the sector and regional knowledge to deliver the funding for the overall strategy and this transaction in the timescales required.”
Steve Armstrong, director at Shawbrook, said: “The Superbia Group’s immense development over the past few years is a testament to the strength of its growth model.
“We overcame some tight deadlines to get them the funding when they needed and we’re very pleased to be working alongside the strong management team as they continue to expand and capitalise on further opportunities. We look forward to being part of their future success.”
Heligan Group provided debt advisory and buyside support and SHMA provided legal services for The Superbia Group. Clarion provided legal services for Shawbrook with RSM and Magma providing FDD support.
Streets Chartered Accountants covers crypto tax reporting, the full expensing tax break, the importance of recognising colleagues during the festive season, and more in its latest monthly news roundup.
It is all change for cryptocurrency tax reporting, but help is on hand
On the 29th of November His Majesty’s Revenue and Customs, HMRC, launched a new campaign to pursue unpaid tax from crypto investors. The campaign seeks to encourage individuals to come forward and disclose any unpaid tax on crypto assets including exchange tokens, NFTs and utility tokens. In part, the approach highlights their concern that many crypto assets owners are seemingly unaware of the responsibility and requirement to disclose and report taxable gains.
In the run up to Christmas many business directors, owners and managers will hopefully have or be looking at potentially sharing in the festive spirit through making gifts to their staff and/or even having a Christmas party. A bit like family and friends gifting, the nature or choice of a gift will mostly likely be based on what might have been given in the past, even the same gift each year along with affordability of the same. To a great extent when it comes to businesses the decision as to what they give their staff may in part be pre-determined by the tax treatment of any gifts.
This episode of The Streets Sessions features Stuart Burlton, MD of Make An Entrance, the UK’s largest manufacturer and retailer of coir matting and direct sales logo matting. Find out how this inspirational family business has changed from a sales and marketing operation to that of a leading manufacturer with plans for international reach. The episode also takes time out to learn more about Stuart’s role with the Federation of Small Businesses as a member of its scrutiny body as well as his passion for supporting the Federation.
Tax breaks including full expensing, capital allowances and help with funding for equipment and machinery
The Full expensing tax break for Limited Companies, which allows businesses to deduct spending on new and unused machinery and equipment from profits, was made permanent in the Autumn Statement. Companies can write off the entire cost of investment in one go, giving rise to a tax cut of up to 25p for every £1 invested. For example, a company incurring £1.5m on new machinery can deduct the entire amount in the tax year of purchase, potentially saving £375,000 in tax if taxed at the main Corporation Tax rate of 25%.
The UK economy continues to be plagued by inflation and increasing interest rates – food and non-alcoholic beverages inflation was over 15% in the year to June 2023. We are seeing higher energy bills this winter and mortgage rates continue to rise. This is why Streets want to keep you informed of news and changes that will affect your personal and business finances.
SmartMoney is the bi-monthly magazine from Streets Financial Consulting plc, Streets Chartered Accountants’ independent financial planning arm, full of news and helpful information on personal financial planning.
The Government has said that it is minded to appoint Commissioners to oversee Nottingham City Council following the latest progress reports from the Improvement and Assurance Board and the Section 114 Report issued by the authority’s Chief Finance Officer on 29 November.
The Improvement and Assurance Board has been overseeing improvements at the council since 2021. The Board issued Instructions for specific areas of work which build on the council’s ‘Together for Nottingham’ improvement plan.
In a letter to the council’s Chief Executive, Mel Barrett, the Government has said while the council has made efforts to address the Instructions issued by the Board in February this year, the Board’s latest assessment is that the authority is not acting at the required pace, particularly in addressing weaknesses in finance, transformation and the underlying culture of the organisation in respect to governance and the workforce.
As a result, the Secretary of State is considering exercising the powers of direction in the 1999 Act in relation to securing the council’s compliance with the best value duty. He is proposing to implement a package of measures through appropriate Directions and is minded to appoint three Commissioners, including a Lead Commissioner, a Commissioner for finance and a Commissioner for transformation, subject to representations received.
The council has been invited to make representations to the Secretary of State by 2 January 2024 before a final decision is made about the proposal. However, if it is confirmed, officers and Councillors will work alongside Commissioners in the areas designated by the Secretary of State.
Council Leader, Cllr David Mellen, said: “Clearly the appointment of Commissioners would be very disappointing and not something that that we would want to happen. Any decision that reduces democratic accountability, however limited and temporary this may be, should not be taken lightly.
“The council has already made progress on a number of the improvements expected of us by the Board and the Government. In particular, we had set a balanced budget and medium term financial plan in March prior to the soaring inflation, high energy costs and increased demand for services supporting vulnerable people that have severely affected the finances of councils up and down the country.
“These pressures have meant our budget is overspent this year leading to a Section 114 Report being issued by our Chief Finance Officer, which has clearly been a factor along with recent reports from the Improvement & Assurance Board, in the Government’s announcement that it is minded to appoint Commissioners.
“Although not the cause of the overspend in the current year, we know there have been specific issues in Nottingham due to decisions made in the past which have affected the council’s financial reserves and resilience.
“The current situation for Nottingham and a great many other authorities is very challenging and in much part caused by underfunding. There will continue to be difficult decisions that have to be made. But we are committed and determined to do what it is right for the city and its residents.”
Chief Executive, Mel Barrett, said: “Although we have previously said that our strong preference was to continue working with the Improvement and Assurance Board, we are committed to working effectively with whatever arrangements Government put in place, so that the intervention can be as successful as possible in as short a time as possible.
“While a lot of progress has been made, we need to go further and faster to consistently demonstrate we are providing Best Value for local people and we will ensure we work effectively with the Commissioners.”
On 29 November a Section 114 Report was issued by the council’s Chief Finance Officer as the council will be unable to meet the legal requirement to deliver a balanced budget this year.
Major challenges affecting councils across the country, including an increased demand for children’s and adults’ social care, rising homelessness presentations and the impact of inflation, have caused a £23m overspend in the council’s budget for the current year.
Past issues relating to financial governance which led to the appointment of an Improvement and Assurance Board, and an overspend in the last financial year have also impacted on the council’s financial resilience and ability to draw on reserves to cover the current financial pressures being experienced.
Newark and Sherwood District Council continues work towards achieving its carbon net zero target as the installation of solar photovoltaic (PV) panels starts at the Newark Beacon.
The Newark Beacon is a modern business centre owned and managed by the District Council and offers a range of business accommodation facilities including shared office space, meeting and conference rooms, hot desks, and an onsite café.
Anyone in need can hire the site, whether it is an established company or a new business owner just starting out. It will be the second Council-owned office space to be fitted with the solar PV panels, in addition to the District Council’s main office at Castle House in Newark.
The 148 solar photovoltaic (PV) panels being fitted are estimated to generate over 40,000 kWh which equates to 17% of the Council’s annual consumption for the site and will save 12 tonnes of CO2 each year.
Several factors contribute to the large amount of energy needed to keep larger office spaces running. These include basic office necessities such as air conditioning or heating, lighting, and computers, and office buildings are one of the five largest building stock sectors in energy consumption, requiring 27.6GWh/year in the UK and 68% of total non-domestic electricity use.
Councillor Keith Melton, Portfolio Holder for Climate Change at Newark and Sherwood District Council, said: “It is great to see our decarbonisation plans well underway at a number of our sites. We do not take our commitment to achieving our carbon neutral goals lightly, and it is encouraging to see huge steps such as this being taken, alongside the other sustainability projects we are working on.
“We can all do our bit to be more energy efficient, whether it is in our offices, our homes, or schools, but large-scale investments like this have a vital role to play in creating a greener future for our community.”
Leicester businesses are to receive a significant boost to their digital and net zero ambitions, thanks to the launch of the new Accelerator project.
This project has received £215,000 from the Government through Leicester City Council’s allocation of the UK Shared Prosperity Fund.
The project, which is delivered by East Midlands Chamber and runs until March 2025, is designed to help businesses across the city to sustain, grow and innovate, with an additional focus on decarbonisation.
There are two key strands to the project:
· Net Zero Accelerator: Events, training, consultancy and energy audits to help businesses gain green business skills, identify energy efficiency improvements and plan their journey towards carbon neutrality and net zero. Decarbonisation plan support will also be available, as well as the opportunity to access an online platform so businesses can showcase the real-time environmental impact of their efforts.
· Digital Accelerator: Workshops, specialist support and bespoke consultancy to help businesses enhance their digital use and/or implement new processes, with a specific focus on manufacturing businesses to support them to switch to advanced and automated technology.
Deputy city mayor for climate, economy and culture Councillor Adam Clarke said: “We have ambitious plans to help make Leicester a net zero and climate-ready city. We know that with the right support, we can welcome all kinds of local businesses on board and show them that becoming more energy efficient is good for business and for the city.
“This new Accelerator programme for local businesses will provide expert advice and support to help them grow while benefitting from energy-efficient, low-carbon improvements, and a focus on green business.”
East Midlands Chamber deputy chief executive Diane Beresford added: “The new Accelerator project builds on the success of the East Midlands Accelerator pilot project which, in 2022, supported 382 businesses and delivered 916 business support interactions across Leicester. The new project will allow us to extend that support to further develop the digital and net zero capabilities of businesses across the city.”
Businesses in Bassetlaw can get an expert energy audit and guidance on how to reduce their carbon footprint, become more sustainable and reduce their long-term costs through a new Council run project.
Bassetlaw District Council is working with Mitie Plan Zero to carry out Energy Audits, which will provide businesses with a Heat Decarbonisation Plan for their places of work, along with the opportunity to apply for a grant of up to £5,000 to support any future costs of implementing energy efficiency and carbon reduction measures.
The project expects to support more than 50 micro, small and medium businesses across the district, and is being delivered as part of the Council’s £3.3m allocation from the Government’s UK Shared Prosperity Fund.
One of the first businesses to take advantage of the audit is the Acorn Theatre in Worksop and its Treasurer, Ian McKeer, said: “We hope the Energy Audit will prove to be very insightful and will put forward a number of ways in which we can reduce our carbon footprint and potentially make some future savings.
“We also welcome the opportunity to apply for a decarbonisation grant. As a volunteer run charitable business that is solely reliant on its own income, a grant will allow us to reduce our carbon footprint when we couldn’t otherwise afford to do so.”
As part of the project Mitie Plan Zero will support local businesses to start or accelerate their plans to reduce their carbon emissions, and in turn, their impact on climate change.
To achieve this, the Energy Audits and grants will help businesses to gain a better understanding of their carbon footprint and identify the most suitable energy efficiency measures that are unique to their building. Using the audit and its findings, businesses can also apply for funding, which will support businesses to invest in decarbonisation.
Parth Mehta, at Mitie Plan Zero, said: “This incredible initiative will provide businesses with the tools and guidance they need to embark on their journey towards a sustainable and net-zero future.
“At Mitie, we believe that innovation and sustainability go hand in hand, and we are committed to helping these businesses be aspirational and think creatively while growing in an environmentally conscious way.
“Our team will be working closely with a wide range of micro, small, and medium-sized businesses throughout the district, and we can’t wait to see the positive impact this project will have on the Bassetlaw community and its businesses.”
Funded through Bassetlaw’s allocation of the Government’s UK Shared Prosperity Fund, Cllr Darrell Pulk, Cabinet Member for Environment and Energy, said this was just one of the ways the Council is helping to drive positive change among small and micro businesses.
He said: “This is just one example of how we are helping businesses to proactively look at decarbonisation and pave the way for cost savings, which could in turn give them the ability to invest and grow.
“Our commitment to sustainability doesn’t stop there. As businesses decarbonise, they become more profitable and efficient, contributing to a greener and more sustainable future. These actions will also bring us one step closer to our district’s decarbonisation goals and our journey towards achieving the 2045 net-zero target.”
Seasoned technology leader Colin Tenwick has been appointed as chairman of Commify’s board of directors. Tenwick’s extensive experience as an executive and non-executive director of global technology businesses will further strengthen the board, as the group continues its ambitious growth journey.
With an established background in the digital transformation space, Tenwick currently serves as chairman of Oxford International Education Group and data management business Intelligent Reach.
Previous roles included chairman of Auction Technology Group, online ecommerce business Wowcher, Addison Lee Group, Bookatable, and non-executive director of AVG. A former CEO at StepStone, Colin also led international business at US tech giants, Red Hat, and Sybase.
“I am excited to be joining Commify at such a pivotal stage, and to working alongside Richard and his senior management team. In a world that’s more engaged online than ever before, Commify is providing smarter solutions for businesses to reach their customers.
“With recent backing from ECI Partners and the ambitious growth targets set for the business, I look forward to using my experience to support Commify as it builds on over twenty years of expertise, to cement its position as one of the world’s leading business messaging providers.”
Richard Hanscott, CEO at Nottingham-based Commify, said: “We are delighted to welcome Colin to the team and look forward to working closely with him to ensure that Commify continues to innovate to support our customers and our people, and to extend our reach in both new and established markets.”
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