Midlands Care has acquired Gokul Vrandavan Care Home on Windsor Avenue in Leicester.
This facility has been dedicated to providing culturally appropriate care to the Gujarati community, offering an Asian lifestyle that resonates with the local elderly population.
This strategic opportunity has allowed Midlands Care to further its commitment to inclusivity and expand its range of care facilities to cater to the needs of local elders from diverse faith backgrounds.
The newly acquired purpose-built home, consisting of 27 single en suite bedrooms, has merged with an existing residential facility to create a comprehensive care environment. The reason for acquiring this service was for the group to extend its services and become an inclusive regional organisation.
Midlands Care also welcomes back Sailesh Raja, founder of Midlands Care, who will play a role in the ongoing leadership and management of the home. Additionally, Pradeep Patel, operations director, will provide expertise and support to maintain the highest standards of care whilst working with the existing staff team and Keilash Mcilwee, registered manager.
Mr Shyamal Raja, Managing Director, said: “I vividly recall when my father visited the original building two decades ago. Evidently, he had a strong desire to acquire it, but he couldn’t make it happen for reasons beyond his control.
“Over the years, he occasionally reminded me and Sagar about the immense potential this opportunity held to serve the local community, which he held dear. The building was purchased by Mr Pabari, who later acquired the land next door and built a purpose-built facility before joining into the original building.”
Shyamal added: “Now, it brings me great joy to announce that, through a meticulously arranged, highly confidential off-market deal, we have completed the takeover of Gokul-Vrandavan Residential Home. The entire process was shrouded in secrecy, with my father completely unaware. Sagar and I orchestrated the service transfer from Mr. Pabari to Midlands Care, creating a wonderful surprise.
“I eagerly anticipate the collaborative efforts ahead and the enhancement of the already exceptional level of care we provide to those entrusted to our care. Together, we will strive to positively impact the lives of our residents and the community we serve.”
New images released by Nottingham City Council show the major transformation due to begin later this year in the city centre with the creation of a wildlife-rich Green Heart.
Work on the Green Heart is due to begin this Autumn as a key element of the vision developed by world renowned Heatherwick Studios for the city’s Broad Marsh area and the site of the former shopping centre.
The design of the Green Heart is unique to Nottingham and has been developed by Townshend Landscape Architects along with Nottinghamshire Wildlife Trust, with Heatherwick Studio retained as a strategic design advisor.
Nearby on Collin Street, work has already begun on a new public space outside the new Central Library building as part of a playable cities initiative to create child friendly spaces in the city centre. Local school children were consulted on the design which will feature specially designed swings and seating so the space can be somewhere families gather and spend time together.
When Collin Street reopens, there will be a traffic-free route connecting the Green Heart and Lister Gate with the new people-friendly, green public space created on Sussex Street next to Nottingham College which features a mini amphitheatre, a skateable space and a multi-use games area.
It will enhance biodiversity by introducing green ecologically rich areas and diverse natural spaces providing habitats and food for wildlife, forming a green infrastructure network linking across the wider Broad Marsh area from Nottingham Castle through to the Island Quarter site and beyond.
The design carves into the site creating pathways, pocket spaces and seating for people to use and enjoy, bringing nature back through ecologically rich planting.
A key aim is to put the ‘marsh’ back to the Broad Marsh, introducing new urban wetlands on land that was once a marshland ecosystem to capture, slow and filter rainwater, potentially preventing flooding and creating pockets of biodiversity.
Townshend Landscape Architects
Sandstone, the rock on which Nottingham Castle was built and into which the city’s unique cave system was cut, will be used for paving and seating. A long bench will arc through the planting and marsh allowing people to sit, enjoy and experience nature.
Leader of Nottingham City Council, Cllr David Mellen, said: “More green space was by far the most popular response when we asked people what they would like to see happen around Broad Marsh as part of the huge Big Conversation engagement exercise the council ran a couple of years ago.
“Anyone who has visited the area recently will see how much it has changed with lots of greenery, pedestrianised areas and seating. The creation of the Green Heart will take the transformation of Broad Marsh a major step further and be a beautiful addition to the city centre which is unique to Nottingham. I’m particularly pleased that Collin Street will be a family friendly space that people can enjoy right outside the new Central Library.”
Gary Alden, Senior Associate at Townshend Landscape Architects, said: ”We have worked closely with Nottingham City Council and local stakeholders to design a place that encapsulates what we collectively coined ‘Nottinghamness’, creating a place that is part of, and inspired by Nottingham.
“Expressing the sandstone, and creating a ‘marsh’ to manage rainwater, is a nature-led solution providing an urban wetland ecosystem for wildlife and people to enjoy.
“From what the spaces once were, this has been a massive undertaking by Nottingham City Council. We are thrilled to see people enjoying the newly created public spaces on Sussex Street, and are excited that work has now started on Collin Street and then the Green Heart later this year.”
Eurocell, the manufacturer, recycler and distributor of window, door and roofline PVC products, has seen a dip in sales in the first half of 2023, against “an exceptionally strong” comparative period.
According to a trading update for the six months ended 30 June, reported group sales were £184 million, down 2% on the first half of 2022, with volume 6% lower.
The company said: “Against a challenging backdrop and an exceptionally strong 2022 comparative period, we have delivered some resilience in the group’s sales performance for the first half.”
Eurocell added: “Last year, in a change to historical seasonal patterns, sales volume and profit generation was weighted towards H1. This reflected strong demand in the RMI (repair, maintenance and improvement) market in the first half, followed by a slowdown in smaller discretionary RMI work in H2.
“For 2023 we anticipate a heavy weighting towards H2, with sales returning to a more normal seasonality and profits in the second half benefiting from lower input prices (including raw materials and hedged electricity) and operational cost savings already implemented.”
Van Elle, the ground engineering contractor, has reported record revenues and improved profitability in its results for the year ended 30 April 2023.
Revenue grew to £148.7m from £124.9m in the prior year, while pre-tax profits hit £5.4m, increasing from £3.6m.
The company noted that the strong trading momentum has continued into its new financial year, with all divisions operating at high activity levels.
Mark Cutler, Chief Executive, said: “I am delighted to report a strong set of results, building on last year’s excellent progress as we emerged from the pandemic.
“The breadth of the group’s expertise, strength of balance sheet and depth of resource allows us to offer the best value to our customers, with whom we are forging closer long-term partnerships.
“The actions taken over the last three years are starting to deliver sustainable results that put us firmly on-track to deliver our medium-term financial objectives.
“I want to extend my sincere thanks to our employees, suppliers and customers for their hard work and support over the last year.”
Breedon Group, the construction materials group, has reported a “strong” first half in its unaudited interim results for the six months ended 30 June 2023.
Revenue at the company grew to £742.7m from £671.1m in the first half of 2022, however pre-tax profits dipped to £56.5m from £59.5m.
Breedon noted it expects to be eligible for inclusion in the FTSE 250 and FTSE-All share indices at the next index review in September 2023.
Rob Wood, Chief Executive Officer, said: “In the first half our vertically-integrated and local operating model has again come to the fore, leveraging our long-term customer relationships and deep market knowledge. Our first class team has operated with great agility to deliver a strong start to 2023 for which I thank them sincerely and we are well-positioned for the second half of the year.
“The long-term structural dynamics driving infrastructure spending and housebuilding in GB and Ireland have not changed. To ensure we can efficiently and sustainably meet long-term demand for our essential construction materials, we have re-doubled our focus on those factors under our control; keeping our people safe and well while minimising the cost of production and maximising the value of the extensive portfolio of assets we own and acquire.
“By emphasising the operational factors we can influence, we will ensure we remain competitive and continue to deliver outstanding results. By challenging our procedures and practices, we can be sure we will be in the strongest possible position when our end-markets return to growth.”
Motorpoint Group, the independent omnichannel used vehicle retailer, has reduced its headcount by 10% as part of “streamlining [its] organisational structure.”In a trading update the Derby company said the move will result in annualised savings of £3m.
Meanwhile the group’s performance has improved throughout the first quarter of its new financial year, which is expected to continue in Q2.
In a statement to London Stock Exchange, Motorpoint said: “The impacts of high inflation, rising interest rates, and consumer uncertainty continue to affect demand for used cars.
“However, like others in the industry, we are encouraged by the growing number of vehicle supply options which, coupled with our increased use of data to determine optimum selling prices, has resulted in an improvement in retail margin. This will, in part, be tempered by lower finance commission as consumer uptake for finance reduces due to increased APR rates.
“The group has also focused on the costs of the business to ensure they are aligned with current market activity and, utilising the investment in technology to date, we are able to maintain a lower headcount as we conserve cash and return to profitability, whilst ensuring we are ready to invest for growth as more favourable market conditions return.
“The group continues to be confident it will emerge in a normalised market as a leaner and more valuable business ready to seize a significant opportunity.”
Revenue is on the up at Derby-based Mortgage Advice Bureau (MAB), despite a tough environment of interest rate rises, reduced affordability, and cost of living increases.
According to a trading update for the six months ended 30 June 2023, group revenue was up 21% to £116m, growing from £96.5m in the same period of 2022, with organic growth of 1% despite the market seeing a 40% drop in new mortgage approvals following the mini-budget in September 2022.
Peter Brodnicki, CEO of MAB, said: “We had hoped to be in a period of interest rate stability as we entered Q3, followed by a resumption in organic adviser growth in Q4. Instead, we find ourselves in an environment of continuing interest rate rises, reduced affordability, and cost of living increases, all of which are naturally impacting consumer confidence.
“Despite strong underlying demand for property, some buying decisions are understandably being delayed by our customers until we have a more stable economic and interest rate environment.
“Despite the additional market pressure, I am delighted with how MAB is performing and how our market share continues to grow. Re-mortgages and increasing numbers of product transfers currently represent around 60% of our written transaction volumes.
“This will deliver MAB a greater number of re-financing opportunities in the medium term, with the group’s advisers performing particularly strongly in this area.
“Despite the signs of a market recovery being further off than we expected three months ago, business efficiency continues to increase, adviser productivity has been maintained, and all strategic initiatives continue to progress well. The group is well positioned to deliver further growth as the market recovers.”
A strong first half of the year has seen Rolls-Royce upgrade its profit expectations for 2023.
In a new trading update the Derby company highlighted “significantly improved first half results” with higher underlying operating profit of £660m-£680m, reflecting “continued end-market growth and [Rolls-Royce’s] focus on commercial optimisation and cost efficiencies across the group.”
Looking ahead, the company has raised its full year guidance, expecting underlying operating profit of £1.2bn-£1.4bn in 2023.
Rolls Royce says its multi-year transformation programme has delivered strong initial results, while an increased focus on costs and productivity has helped to offset the impact of inflation and mitigate supply chain pressures.
Tufan Erginbilgic, CEO, said: “Our multi-year transformation programme has started well with progress already evident in our strong initial results and increased full year guidance for 2023. There is much more to do to deliver better performance and to transform Rolls-Royce into a high performing, competitive, resilient, and growing business.
“Despite a challenging external environment, notably supply chain constraints, we are starting to see the early impact of our transformation in all our divisions. Better profit and cash generation reflects greater productivity, efficiency and improved commercial outcomes.”
Lincolnshire-based JDM Food Group (JDM) and US-based Henry Broch Foods (HBF) are set to merge, creating a new parent company, Jardins and Broch.
JDM, headquartered in Bicker, is an innovator in value-added vegetables, sauces, dips and purees to the retail, manufacturing, recipe box and foodservice markets. HBF, with headquarters in Waukegan, Illinois, is a prominent spice, dry-blending and co-packing company, specializing in tailored formulations and seasonings.
Jardins and Broch brings together two market leading ingredients companies and will create a team of international flavour experts across both wet and dry products. The newly formed partnership is an industry leading player with significant production capacity, complementary R&D capabilities and worldwide supply chain networks.
The two companies will continue to operate independently in their home markets and will now be backed by the expert knowledge and skills from the other party to grow a global presence. Aisling Kemp will remain CEO of JDM and Greg Antonetti will continue to lead as CEO of HBF, with both taking an active role in the integration, growth, and future success of the combined group.
Aisling Kemp, CEO of JDM, said: “The combined expertise and knowledge within the two companies creates a flavour powerhouse with global ambitions. Working with the team at HBF who share our strong ethics, values and focus on sustainability is incredibly exciting.
“Trends in this market are ever changing and we are now better able to develop solutions with our culinary teams that deliver on flavour, health, and functionality to ensure we evolve alongside consumer demand.
“Working with Sunridge the last 2 years has been transformational. Their investment has allowed us to accelerate our product capabilities and channel growth. We believe the partnership with HBF will cement that work and create long term sustainable growth as a true ingredients innovator.”
Greg Antonetti, CEO of HBF, said: “This partnership will be a win for our customers, suppliers, team members and other partners. Our aim has always been to build a leading value-added ingredients business and alongside our long serving and dedicated team members, we have worked tirelessly towards this goal.
“We are thrilled to bring JDM’s capabilities, especially in wet ingredients to our customers in North America. The JDM team brings unparalleled expertise, strong production and innovation capabilities, and the ability to serve a wide range of customers across the UK and beyond.”
Jardins and Broch is backed by London-based Sunridge Partners (Sunridge), a private investment group committed to creating leaders in food, beverage, and agribusiness.
Philipp Saumweber, managing partner of Sunridge, said: “Since partnering with JDM in 2021, we have invested considerably in building a word-class ingredients team, expanding our operations, and improving capabilities.
“We are very much looking forward to working with like-minded friends at HBF and jointly executing on group investment and growth plans to build a leading international ingredients and flavour formulation company.”
Knowing your tax requirements in a volatile landscape can be tricky.
With the government’s Making Tax Digital (MTD) initiative delayed until 2026, small and large businesses might still be following outdated tax reporting processes. But despite the challenges of an increasingly digitised corporate sphere, adapting to change will streamline the introduction of innovative accounting technologies.
Whether you’re starting a new business this year or scaling operations up to a global level, implementing an effective and modern tax system is critical. Along with ensuring transparency and compliance, your records will be easier to trace, identify, and keep.
Tax compliance in 2023: The necessary tools, tips, and methods
Ensure accurate recordkeeping
Making sure that your business stays on top of all tax-related matters is a necessity. If you fall behind or HMRC discover unexplainable gaps in your records, the potential impact on your ability to trade could be significant.
As a responsible business owner, you need to ensure that your recordkeeping is compliant and updated across the board. Regardless of whether or not you create the records yourself, you should understand which tax applies to your business.
Income tax and corporation tax are commonplace for most limited companies, and accurate tax reporting for VAT compliance is imperative for all VAT-registered businesses and their subsidiaries.
Keep your records separate and updated
To keep your company organised, there should be a separate place for each type of record you’re required to keep. Each document should contain only the correct data and information, and you should try to avoid grouping notes or unrelated administrative documents with tax records.
Maintaining your financial records also involves keeping the information secure and protected, regardless of its format. If you still work with paper copies of receipts and invoices, it’s important to store these securely and make sure only authorised employees can access them.
Similarly, online documents should be password protected and backed up in more than one digital location, just in case your business suffers a cyber-attack. You should also be aware that scammers and fraudsters might pretend to be HMRC, so it’s crucial to stay prudent.
Streamline your tax reporting
Even though some established companies might prefer to organise their tax physically and internally, it might be easier and more efficient to hire externally. And rather than completing time-consuming internal audits within your own team, an unbiased professional can take on the responsibility.
Outsourcing means that you could delegate the most important tax duties to a business that deals with compliance and tax implications on a daily basis – and thus understands the most complex nuances in the trade.
Not only could this free up more time to focus on essential internal tasks, but it means that your business as a whole will benefit from the expert knowledge working behind the scenes. As for future tax compliance, you’d also benefit from absolute peace of mind.
Overview
When it comes to corporate tax reporting, change is on the horizon. If you haven’t already planned and prepared for the digital tax overhaul, it’s time to put the wheels in motion and ensure that your company can minimise risks and be compliant.
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