Team formed to develop proposals for new leisure centre and Civic Offices in Swadlincote
A new Project Team has been formed to develop options and proposals for Swadlincote’s leisure centre and Civic Offices.
Greenbank Leisure Centre and the Civic Offices are ageing and becoming unfit for purpose in comparison with modern leisure centre facilities and future office requirements. Due to their age, condition and South Derbyshire District Council’s decarbonisation targets these buildings will require substantial future maintenance and investment.
At the Finance and Management Committee meeting on Thursday, 24 November, the Committee endorsed the establishment of a new Project Team that will work up proposals for a new leisure centre and Civic Offices.
One of the initial challenges facing the newly formed team will be determining where the new buildings could be built. So, identifying potential sites and evaluating their suitability will be the priority focus of the project.
The financial viability of the proposals will also need to be assessed.
Councillor Robert Pearson, Leader of South Derbyshire District Council, said: “This new team will start work to explore and present a variety of options which will be carefully scrutinised by partners, stakeholders, residents and staff.
“It is of paramount importance that we ensure residents and our staff have access to modern buildings and facilities that truly serve their needs well into the future.”
The project is at an early stage, and no decisions about the new leisure centre or the Civic Offices have been taken. The Green Bank Leisure Centre, and the adjacent Civic Offices have been at Civic Way, Swadlincote, since the 1970s.
Just weeks left to save Derby train manufacturing
A lobby of Parliament has heard from the UK boss of train-maker Alstom that there could be just weeks left to save nearly 180 years of train manufacturing in Derby.
Managing Director of Alstom in the UK & Ireland, Nick Crossfield, made the prediction at the lobby after appearing at a meeting of a select committee on rail rolling stock.
Production lines at the firm’s Litchurch Lane site are set to come to a halt due to a lack of orders for new train fleets from the UK rail sector. The lobby, attended by members of both houses, as well as city and business leaders, was convened to call on the Government to act.
Mr Crossfield told the lobby: “We are at a most critical stage and if we do not get clarity and commitment in the next two to three weeks then we are in a very different environment. Long term, the UK rail market is the second largest in Europe. The question is, how does Britain want to get those trains?”
Councillor Baggy Shanker, leader of Derby City Council, said: “The lobby was well attended and together Team Derby has highlighted just how urgent and critical it is for the Government to take action promptly to secure the immediate future of rail manufacturing in Derby. We all now anxiously wait for a decision from the Secretary of State for Transport.”
Speaking at the lobby, John Forkin, Managing Director of Marketing Derby, said: “The Bondholder business community of Derby stands in full support of Alstom and its suppliers.
“The short-term threat is real – and we must protect those thousands of jobs. We’ve been here before – and we need an industrial strategy that puts the rail sector at its heart.”
Alstom, and its unions, have been in talks with the Department for Transport for months in an attempt to persuade it to bring forward contracts to safeguard the jobs of hundreds of workers at the Litchurch Lane factory and thousands more in the UK supply chain.
It has been supported by management at Transport for London, which wants Alstom to build additional trains for the capital’s Elizabeth Line.
Rail sector experts also believe there is desperately needed refurbishment work for current rail fleets in passenger service that could be commissioned into Derby.
City leaders have been working closely with Alstom, Unite and senior government officials to explore potential resolutions to the current situation since possible job cuts were revealed back in September.
At the lobby, local MPs of different political hues came together to discuss the crisis. Also present was Lord McLoughlin, himself a former Transport Secretary, who spoke about the skills that existed in Derby, the importance of the supply chain and the quality of trains the city produces, particularly for the Elizabeth Line.
Growth continues at Games Workshop
Revenue and pre-tax profits are showing continued growth at Games Workshop, the Nottingham-based manufacturer of miniature wargames.
In a new half year update the business confirmed trading is in line with expectations, with the Board’s estimate of results for the six months to 26 November 2023, at actual exchange rates, being core revenue of not less than £235 million (up from £212.3 million last year) and licensing revenue of c. £12 million (down from £14.3 million).
Core operating profit, meanwhile, is estimated to be no less than £82 million (increasing from £70.7 million) and licensing operating profit is anticipated to be £11 million (down slightly from £12.9 million).
Furthermore, profit before tax is estimated at not less than £94 million (growing from £83.6 million).
Under Games Workshop’s profit share scheme, it is paying £2,500 in cash to each employee in December to reward their contribution to the firm’s performance. Dividends declared and paid in the period are 195p per share, £64.2 million.
Frasers Group hails “strong set of results”
The CEO of Frasers Group has hailed a “strong set of results” for the retail giant’s first half.
According to unaudited results for the 26 weeks ended 29 October 2023 (FY24 H1), group revenue passed £2.7bn.
Meanwhile, the Shirebrook-based firm’s reported profit before tax surged to £310.2m from £287.2m last year.
Michael Murray, Chief Executive of Frasers Group, said: “We have delivered a strong performance in the first half of the year, with great momentum as we head into the Christmas trading period. The elevation strategy continues to drive strong trading performance across the business with good growth in Sports Direct supported by our brand partners.
“Our long-term ambitions for our Premium Lifestyle business remain unchanged although it is likely that progress will remain subdued for the short to medium term in the face of a softer luxury market however, we continue to invest with confidence in our unique proposition.
“During the period, we have opened new elevated stores, and further strengthened brand partnerships to allow us to deliver the best consumer experience. I am also excited about the potential of our strategic investments which we expect to unlock further opportunities for the Group. We have a clear ambition to be the leading sports retailer in EMEA and we are making progress on broadening our footprint through a focused international M&A strategy.
“As we look to 2024, we are confident that our diversified proposition will continue to provide consumers with choice across a range of brands and price points. I want to thank our talented colleagues for their relentless focus and hard work which has enabled another strong set of results.”
Profits dip at Watches of Switzerland Group
Watches of Switzerland Group has seen a 20% dip in pre-tax profits in its first half, while revenue has also witnessed a small decline.
According to results for the 26 weeks to 29 October 2023 (H1 FY24), group revenue sat at £761 million, down from £765 million in the same period of the year prior.
While the Leicester business saw strong momentum in the US with a 5% increase in revenue to £328 million, revenue in the UK and Europe was down 4% at £433 million, in part due to a more challenging consumer environment in the UK, and several high turnover showrooms being closed for upgrade during the period. Statutory profit before tax, meanwhile, declined to £67m from £83m.Keeping positive, Brian Duffy, Chief Executive Officer, said: “Our good first half performance reflects the Group’s growing leadership position in our chosen markets as the strength of our longstanding brand partnerships and our proven business model continue to drive our performance forward.
“We are particularly pleased with performance in the US, where we grew revenue +11% in the period, and the US now comprises 43% of Group revenue. The consumer environment in the UK continues to be more challenging and UK and Europe revenue was -4% in the period, impacted by the timing of product intake in Q1 FY24 and temporary showroom closures for refurbishment.
“We have expanded our retail network at pace in the first half, opening a total of 19 showrooms globally, whilst investing in elevating the luxury experience for our clients through significant refurbishments across seven showrooms.
“We were also delighted to complete the acquisition of selected luxury showrooms from Ernest Jones in November 2023. Looking ahead into the balance of the financial year, we will integrate the Ernest Jones portfolio and continue to deliver on our exciting pipeline of new projects.
“Demand dynamics remain strong, and our client registration lists continue to grow, whilst the pre-owned market remains a significant opportunity. We are encouraged by the early performance of the Rolex Certified Pre-Owned programme following its launch in the first half in both the US and UK. We will continue to expand the number of showrooms to meet demand for all pre-owned luxury watches and are excited by the growth potential in this category.
“Looking ahead, we are well positioned for a good holiday trading period as we present our clients with our strongest ever range of luxury watches and luxury branded jewellery. We remain on track to deliver full year guidance, with our confidence for H2 underpinned by the reopening of several high revenue showrooms which were closed for upgrade in H1.
“Looking further ahead, we are confident in our Long Range Plan objectives of doubling sales and profit by 2028 through capitalising on our leading market positions and the unique growth opportunities available to us as the world’s largest luxury watch retailer.”
Social media followers to help IT firm support Northants charity
Staff from IT consultancy 3RS IT Solutions have pledged to support a charity which supports adults with mental health needs, autism and learning and physical disabilities, by undertaking fundraising challenges suggested by their social media followers.
Director Stephen Souch and services operations manager, Ethan Malvern, will be raising money for Teamwork Trust by participating in a series of activities and challenges over the course of the next year – all of which will be decided by a series of online polls across their social channels.
Stephen said: “Some people may know that my son is autistic, and The Teamwork Trust does a huge amount to support people with additional needs in Northamptonshire. We want to help them by raising as much money as we possibly can.
“Ethan and I have formed two teams, Team Souch and Team Malvern, but we need help in deciding which challenges we should take part in.
“Over the coming weeks we will be posting a series of polls on our social media channels and we are inviting everyone to go online and vote.
“While we’re secretly hoping people aren’t too brutal, we will try anything, so we would urge everyone to get online and have their say!”
Helen Burdett-Wright, Chief Executive at Teamwork Trust, said: “Thank you to 3RS IT Solutions – for your support, generosity and such a fun-filled and committed fundraising drive.
“We are 40 years old this year and are all about supporting autistic adults, people with learning disabilities and individuals with mental health needs. This support will make a huge difference to our life changing charity and our service users can’t wait to find out more and get involved.”
To learn more about their challenge and to vote in the online polls visit 3RS IT Solutions’ social media channels at www.linkedin.com/company/3rs-it-solutions/ or search for 3RS IT Solutions on Facebook.
Streets Chartered Accountants covers tax, national insurance, pensions and more in new news roundup
Streets Chartered Accountants covers tax, national insurance, pensions and more in its latest monthly news roundup.
Corporation Tax marginal rate
The Corporation Tax main rate for companies with profits in excess of £250,000 increased to 25% on 1 April 2023…read more
Marriage allowance entitlement
The marriage allowance applies to married couples and those in a civil partnership where a spouse or civil partner does not pay tax or pay tax above the basic rate threshold for Income Tax…read more
Income Tax – £5,000 savings zero rate band
If you have taxable income of less than £17,570 in 2023-24 tax year you will have no tax to pay on interest received…read more
CGT – Lettings relief
In general, there is no Capital Gains Tax (CGT) on a property which has been used as the main family residence…read more
IHT – Giving away your home before you die
The majority of gifts made during a person’s life, including gifting a home, are not subject to tax at the time of the gift…read more
Filling gaps in National Insurance record
National Insurance credits can help qualifying applicants to fill gaps in their National Insurance record…read more
NIC changes for the self-employed
In the recent Autumn Statement, the Chancellor announced two important changes to National Insurance contributions (NIC) for the self-employed…read more
NIC changes for employees from 6 January 2024
In the recent Autumn Statement, the Chancellor announced a significant change to National Insurance contributions (NIC) for employees…read more
Tax relief on pension contributions
Taxpayers can usually claim tax relief for their private pension contributions…read more
Help to Save bonus payments
The Help to Save scheme is intended to help those on low incomes to boost their savings…read more
Due a student loan refund?
Student Loans are part of the government’s financial support package for students in higher education in the UK…read more
Childcare support from HMRC
Parents may be eligible to receive childcare support from HMRC using the Tax-Free Childcare (TFC) scheme…read more
Current State Pension age
The second review of the State Pension age has been published by the Department for Work and Pensions. The State Pension age is currently 66…read more
Paying tax by direct debit
One of the many ways that payments can be made to HMRC is by using a direct debit…read more
Tax Diary December 2023/ January 2024
1 December 2023 – Due date for Corporation Tax payable for the year ended 28 February 2023.
19 December 2023 – PAYE and NIC deductions due for month ended 5 December 2023 (if you pay your tax electronically the due date is 22 December 2023).
19 December 2023 – Filing deadline for the CIS300 monthly return for the month ended 5 December 2023.
19 December 2023 – CIS tax deducted for the month ended 5 December 2023 is payable by today.
30 December 2023 – Deadline for filing 2022-23 self-assessment tax returns online to include a claim for under payments to be collected via tax code in 2024-25.
1 January 2024 – Due date for Corporation Tax due for the year ended 31 March 2023.
19 January 2024 – PAYE and NIC deductions due for month ended 5 January 2024 (if you pay your tax electronically the due date is 22 January 2024).
19 January 2024 – Filing deadline for the CIS300 monthly return for the month ended 5 January 2024.
19 January 2024 – CIS tax deducted for the month ended 5 January 2024 is payable by today.
31 January 2024 – Last day to file 2022-23 self-assessment tax returns online.
31 January 2024 – Balance of self-assessment tax owing for 2022-23 due to be settled on or before today unless you have elected to extend this deadline by formal agreement with HMRC. Also due is any first payment on account for 2023-24.
Read more
Midlands’ business profit expectations plummet as low optimism reflects bleak economic outlook
The December round of Grant Thornton’s Business Outlook Tracker, which monitors mid-market business sentiment, shows that profit expectations have plummeted since October, with 1 in 3 (32%) expecting a decrease in profit in the next six months.
Business optimism also continued a downward trend across all indicators, whilst investment expectations also fell across all categories.
Key findings include:
- Profit expectations have plummeted 20 percentage points (pp) since October to 46% – this is 9pp below the rolling average
- 1 in 3 (32% expect a decrease in profits)
- Optimism about economic growth stayed flat since October at 58% – this is 11pp below the rolling average (69%) and just 1pp higher than the lowest recorded level
- Revenue growth expectations fell 12pp below the rolling average to 58%
- 18% of respondents were pessimistic about revenue growth – this is the highest level recorded in three years
- Pessimism levels were also at a record high for funding position (17%)
- Investment expectations continue to slow down with all expectations down or the same as in October. Technology (down by 8pp), recruitment (down by 6pp) and skills development (down by 5pp) / growing in international markets (down by 5pp) saw the biggest declines since the last round in October
James Brown, practice leader for Grant Thornton UK LLP in the Central and East region, said: “Throughout most of 2023, businesses have remained relatively optimistic about the economy and their ability to weather the many challenges.
“This latest set of business outlook data suggests that businesses are now starting to come face to face with hard realities resulting from a combination of poor economic performance, biting covenants, higher interest rates, relatively high levels of inflation, energy cost increases, political uncertainty, and decreased investment expectations.
“The only way to get the economy onto a high growth, low inflation path which leads to economic prosperity and welfare gains is to invest in areas that improve productivity, close the productivity gap, and enhance skills. Currently there are decreased investment expectations across the board, including in these key areas.
“The government has put some measures in place such as the Apprenticeship Levy, green grants, R&D tax credits – and while businesses should take advantage of these, they currently don’t seem to be sufficient to ward off all the pressures faced.
“Businesses will know that investing in these areas is critical to their long-term competitive success – so the fact that they are cutting back in these areas paints a clear picture of the pressure they are under.
“With all of this in mind, it is understandable that optimism is at an all-time low, as businesses are in the thick of the storm and trying to find a way through. However, over half (58%) of respondents remain optimistic about the economic outlook, suggesting that businesses can still see light at the end of the tunnel.
“The economy is predicted to improve from 2026 onwards, by which point government policies such as childcare and pension reform will hopefully have kicked in and started loosening the labour market.”
If Father Christmas was a journalist which list would you be on? By Greg Simpson, founder of Press for Attention PR
Greg Simpson, founder of Press for Attention PR, helps you prepare to pitch the media.
According to my research, you better watch out.
I am also reliably informed from my network of sources that you better not cry.
Don’t even think about pouting.
The reason for these tips?
Simple, Santa Claus is on a deadline.
Of course, being a diligent type, he’s making a list and doubtless will be checking it twice.
Clearly, this will then help him discover who’s been naughty or nice
Because as you might have realised, Santa Claus is on a deadline.
Now, deconstruction of favourite Christmas tunes aside, which list do you think you’d be on if you were really honest about the way you pitch the media and deal with reporters? That is assuming that you do actually do this of course. I realise that to many people, the very notion of “reaching out” to the media is right up there with sticking pins in their eyes or watching another HILARIOUS episode of “Mrs Brown’s Boys” whilst forcing down another mince pie. However, for those brave souls who might be planning to pitch the media as part of their marketing new year’s resolutions, or for anyone who might need a refresher after a “challenging” year of less than stellar pitching, here’s how to make the Nice list and avoid the Naughty list.- Have a list
- Check that list (more than twice)
- Learn what they want
- Check how they want to be pitched
- Answer the question/be useful
- Don’t try and wangle the angle
- Check the requirements
- Meet the deadline
- Picture the scene
- Don’t b*gger off
Glowfrog Video Production expands operations to Nottingham
Glowfrog, a renowned video production company based in Derby, has expanded its operations with the opening of a new premises in Nottingham. This strategic move is aimed at enhancing the company’s ability to serve businesses in Nottingham and surrounding areas more efficiently, while maintaining its commitment to delivering top-notch corporate video production services.
Having already successfully catered to a diverse range of clients across the East Midlands, Glowfrog’s expansion to Nottingham is a testament to its continued growth and dedication to meeting the evolving needs of businesses in the region. The new location enables the company to provide a more localised and responsive service to clients in Nottingham, ensuring quick and direct access to its award-winning video production expertise.
Local Presence, Global Excellence:
While Nottingham already boasts several video production companies, Glowfrog stands out as a pioneer in the industry, bringing with it a superior level of creativity, professionalism, and an extensive track record of producing high-quality corporate videos. As an award-winning video production service, the company prides itself on its ability to deliver visually compelling content that not only meets but exceeds client expectations.
Meeting the Video Production Needs of Nottingham Businesses:
The move to Nottingham is not just about expanding physical presence but also about being attuned to the specific needs of businesses in the area. By establishing a local base, Glowfrog aims to provide a tailored and responsive approach to the video production requirements of Nottingham’s thriving business community.
About:
Glowfrog is an East Midlands based video production company with a focus on delivering award-winning corporate video production service. The company is committed to setting new standards of excellence in the Nottingham business landscape. For more information, visit www.glowfrogvideo.com.
Contact:
Director – Matt Middleton
Glowfrog Video Production Nottingham
Westminster B., Theatre Square, Nottingham, NG1 6LG
Tel: 0115 772 0465
Email: hello@glowfrogvideo.com
About:
Glowfrog is an East Midlands based video production company with a focus on delivering award-winning corporate video production service. The company is committed to setting new standards of excellence in the Nottingham business landscape. For more information, visit www.glowfrogvideo.com.
Contact:
Director – Matt Middleton
Glowfrog Video Production Nottingham
Westminster B., Theatre Square, Nottingham, NG1 6LG
Tel: 0115 772 0465
Email: hello@glowfrogvideo.com
