Manufacturers welcome Governments plans to boost the whole sector

Stuart Pearcey
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Manufacturers welcome Governments plans to boost the whole sector
Industry leaders from across UK advanced manufacturing have welcomed the Government’s landmark Advanced Manufacturing Plan backed by billions to boost Britain’s manufacturing sector, announced by Business and Trade Secretary Kemi Badenoch today. The package of measures will build on our existing strengths in manufacturing and offer certainty to business by building on our successful programmes and committing more than £4.5 billion to 2030 in targeted funding to back the long-term future of the UK’s world leading industries as well as supporting SMEs through extending and expanding our Made Smarter digital adoption programme through this decade. The Plan outlines key measures to improve the business environment and attract investment, including faster grid connections, full expensing and more apprenticeships. Stephen Phipson, CEO of Make UK, the manufacturers’ organisation said: “A battery strategy is very welcome and much needed. Having a joined-up battery plan in place will be critical for the UK economy to benefit fully from new technological opportunities going forward, and we must ensure that manufacturing involves the entire supply chain, right from design to manufacturing and recycling, closely connecting car and battery industries. “Recycling will also be very important to recover those critical materials that are essential for the low-carbon economy, and this joined up Advanced Manufacturing Plan will help deliver better coordination across the whole of the clean energy sectors.

“Make UK and industry will continue to work with the government on the practicalities of this plan, including how to incorporate manufacturing supply chains. These supply chains have a key role in supplying components and services for clean energy in the future low-carbon economy and we must ensure that the full potential is delivered to enable our companies to compete on the global stage.”

Karen Betts, Chief Exec at the Food and Drink Federation said: “The advanced manufacturing plan will provide critical support to the UK’s largest manufacturing sector in helping to unlock innovative investments in food and drink businesses. The £4.5billion of funding will help to derisk and incentivise investments focused on the transition to net zero and strengthening food security while the expansion of Made Smarter will particularly help SMEs. Making full expensing permanent will support businesses across the sector, boosting productivity and growth. Richard Torbett, Chief Executive of the Association of the British Pharmaceutical Industry added: “We’ve long believed that the UK has the potential to be a world leader in advanced and sustainable medicines manufacturing. This £520 million in support announced by the government will supercharge UK life sciences manufacturing, combatting the increasing international competition to attract major manufacturing investment.

“Added to our existing strengths and technical expertise in manufacturing innovation, this announcement is a major step forward in delivering on our shared ambitions for long term growth.”

NFU meets Natwest to press for changes to ‘oversimplified’ greenhouse gas tracker

Stuart Pearcey
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NFU meets Natwest to press for changes to ‘oversimplified’ greenhouse gas tracker
The NFU has met NatWest over concerns about an ‘oversimplified’ message on its greenhouse gas tracker, which has promised a review of its app as a result. First reported in The Telegraph, NatWest’s banking app gives customers a personalised carbon footprint score each month, and has been suggesting that customers cut red meat out of their diet and drink plant-based milks as a measure to reduce their greenhouse gas emissions.
The NFU has offered its support in developing this message and have reiterated that British livestock and dairy farmers are some of the most greenhouse gas efficient in the world, as well being custodians of large swathes of iconic landscapes, with grass fields providing important habitats for biodiversity and vital carbon reserves in our soils. NFU Deputy President Tom Bradshaw said he had ben encouraged by NatWest’s responsiveness following its recent meeting with the NFU and their subsequent content review of their greenhouse gas tracker. “It is positive to see NatWest’s willingness to learn, and we are committed to continuing to work with the banking sector to ensure they fully understand and work alongside the agriculture sector when it comes to reducing emissions and supporting resilient, sustainable businesses. “British meat and dairy are among the most sustainable in the world, with UK beef emissions less than half the global average. Red meat and dairy are also recognised as an essential part of a healthy diet, being naturally rich sources of protein and calcium and providing essential nutrients like iron, zinc and vitamin B12.” Ultimately, the NFU urges the banking industry to keep a balanced message when making any recommendations to its customers and recognise the important role British farmers and growers have in the transition towards a sustainable economy and the work they are doing, and will continue to do, to facilitate this movement. The NFU says oversimplified messages miss the nuance of the path to a sustainable food system, and have highlighted the damage such recommendations could do to the British red meat and dairy sectors, adding that NatWest has recognised its concerns and the view that such recommendations do not support British agriculture and hugely oversimplify a very complex message. The NatWest Agriculture team has assured the NFU that they are working closely with the Digital Banking team to ensure that a more balanced message is provided via its app.

Professional services firm to relocate to new office in Leeds

Tess Egginton
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Professional services firm to relocate to new office in Leeds

Aon plc, a global professional services firm, plans to relocate its advisory team in Leeds to a new office at South Central.

Aon has agreed a 10-year lease on the 4,500 square foot office, which is based on the first floor of the newly refurbished South Central building. Approximately 70 advisory colleagues will relocate from Aon’s Embankment office to the new site in January 2024.

Ted Winterbottom, programme, project and change manager for Aon in Leeds, said: “The advisory team is looking forward to starting 2024 with a move to their new South Central office.

“Our criteria, when seeking new premises, focused on sustainability, colleague wellbeing and a location that offered great transport links and easy access to Leeds City Centre. South Central more than fulfilled our wishlist.

“South Central’s numerous sustainable features and EPC:A rating is recognised in our Environmental, Social and Corporate Governance (ESG) commitments, and the facilities it offers will support our colleagues’ wellbeing.

“The new office also aligns with Aon’s Smart Working strategy, providing colleagues with a flexible and collaborative working environment to deliver the best service for our clients.”

The internal fit-out is underway to create an open plan space for colleagues with meeting rooms, co-working hubs and break-out areas.

Aon was advised by agent CBRE and solicitor Heald Nickinson Solicitors.

Leeds wins bid to keep UKREiiF in the city

Tess Egginton
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Leeds wins bid to keep UKREiiF in the city
Following an exploration of potential host cities, the organisers behind The UK’s Real Estate Investment and Infrastructure Forum have announced that it will remain in Leeds for the foreseeable future. UKREiiF is set to gather 10,000-12,000 delegates in 2024 and raise £20m for the local economy through visitor spend – and due to this growth UKREiiF’s team had explored potential options including Birmingham, Manchester and Liverpool. But following this exploratory process the organisers have announced Leeds will host the event into the future in addition to hosting the event in the city between May 21st and 23rd in 2024. Councillor James Lewis, leader of Leeds City Council, said: “We are delighted that UKREiiF is staying here in Leeds and we are proud to be able to enable this Leeds based scale up, as it continues to realise its rapid growth. “UKREiiF represents a significant platform for highlighting the city and our dedication to fostering innovation, inclusive growth and resilience. It demonstrates the art of the possible when private and public sector come together, working in tandem with industry leaders and fellow innovators, to drive positive change with a more diverse delegation. “Hosting the largest real estate conference of its kind in the UK is a testament to the growing reputation of Leeds and West Yorkshire allowing us to showcase our region’s vibrant economy, our regeneration market, and development opportunities; together with our ambitions for a healthier, greener and inclusive future for the city. “We’ve been blown away by the positive feedback about the city from the many thousands of delegates we have welcomed each year, and we look forward to extending a warm Yorkshire welcome to many more, as UKREiiF continues to go from strength to strength. “People knew about us, and the success of the last few years, but they really know our story now and we are delighted to showcase this work, our changing city and the ambitions we have for the future.” Chief Executive of UKREiiF, Keith Griffiths said: “I must firstly thank all of the shortlisted cities for their interest in hosting UKREiiF – we saw some excellent venues and potential sites for UKREiiF and any of them could have successfully hosted UKREiiF, especially with the support of the fantastic teams we met along the way showing how important public and private sector collaboration is. “But overall we felt Leeds, with some really exciting propositions for growth, was the right city to host UKREiiF building on what we expect to be an excellent event in 2024.”

Streets Chartered Accountants reflects on the Autumn Statement

Tess Egginton
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Streets Chartered Accountants reflects on the Autumn Statement
Streets Chartered Accountants has provided a handy roundup of content, breaking down the Autumn Statement.

Post Autumn Statement webinarStreets hosted a post Autumn Statement webinar providing details of the announcements along with an update on topical issues affecting business clients and private individuals during this tax year 2023/24. This presentation was recorded and is now available on demand for those who weren’t able to join live. Click the watch now button below to catch up.

Watch Now

Streets’ guide to The Autumn Statement ​​​​​​​The Chancellor’s 2023 Autumn Statement contained some important announcements and confirmed a number of changes planned for the new tax year. Following this, Streets has put together a report containing the latest tax and financial information, which is available to download using the link below.

Revenues ahead of expectations at video games firm

Tess Egginton
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Revenues ahead of expectations at video games firm

2023 revenues are anticipated to be “modestly” ahead of expectations at Yorkshire-based Team17 Group, according to a new trading update for the current financial year ending 31 December. However some titles within the games label are underperforming.

While the important trading periods of Black Friday and Christmas are not yet complete, management believes the group “remains well positioned with strong traction across its new release and back catalogue titles,” and currently expects 2023 revenues to be modestly ahead of current market expectations.

The business added: “Despite this overall robust revenue performance, certain titles within the Games Label are not meeting internal expectations, resulting in a less favourable mix between higher margin own-IP titles and third-party titles (with higher royalty payments) than anticipated. “In addition, the group was too slow to address some project overspends and has faced some delays in implementing key cost initiatives at Team 17 Games Label. These are now at advanced stages and will continue to bring benefits into next year.

“Management continues to be pleased with the performance of astragon and StoryToys. However, since the H1 results, and in the light of the post Covid-19 dynamics, management has re-evaluated the cost structure within Team17 Games Label to align with its core competencies as an indie game developer and publisher.

“In addition, it is also reviewing a number of titles, both under development and already launched, to assess the revenue potential in the current market environment, which is expected to result in impairments recognised in FY23.”

Team17 now expects to deliver full year adjusted EBITDA of at least £28.5m, which includes non-cash title impairments of up to £11.5m.

Reed Boardall reports £1.4m profit for last full year

Stuart Pearcey
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Reed Boardall reports £1.4m profit for last full year
Profits before tax at Yorkshire-based temperature-controlled food storage and distribution business Reed Boardall have risen to £1.4m for the year ending 31 March 2023. The group, which provides storage and logistics services from its single site in Boroughbridge, achieved a £5.5m uplift in profits year-on-year. In 2021-2022, a number of adverse conditions, including Covid lockdowns, a cyber-attack and spiralling fuel and energy costs, resulted in the company sustaining a £4.1m loss. Chief Exec Marcus Boardall said: “Given global uncertainty as the Ukraine conflict continues, together with ongoing inflation, pressure on our costs has been unrelenting. In such a challenging environment, the group has once again put in a strong performance, based on its longevity, outstanding reputation in the sector and the skills of our highly trained team. “We were pleased to see labour shortages having a smaller impact last year than previously, largely due to initiatives we have undertaken to ease the industry’s recruitment issues, including our ongoing investment in training and improving working practices. By the end of the financial year, we had succeeded in training over 50 new recruits via our in-house driver academy, enabling them to become qualified HGV drivers, as well as having set up a number of administration and technician apprenticeships.
Mr Boardall continues: “Having already weathered one of the toughest years in our 30-year history, we are pleased that our latest financial results show the strength of the business as we look forward to further growth. The year ahead looks positive as we continue to prove the success of our single site strategy which enables us to provide an efficient and reliable service to our customer.” Group finance director Sarah Roberts adds: “It is great news that despite market turmoil, the business is back on track with both turnover and profits increasing. Some of the positive trends we saw included higher average store utilisation than the previous year, and the recent extension to our 168,000 pallet cold store running at very high capacity.” Based on a dedicated 55-acre site operation in Boroughbridge, Reed Boardall has a fleet of 200 vehicles operating 24 hours a day, year-round, and delivers 12,000 pallets of frozen food daily from manufacturers across Britain, Europe and further afield to all the UK’s best-known supermarkets. It also provides blast freezing, picking and packaging services.

Leeds-based JPG Group gives Liam a seat on the Board

Stuart Pearcey
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0
Leeds-based JPG Group gives Liam a seat on the Board
Engineering consultancy JPG Group has appointed Liam Bower to its board as part of its business and succession planning strategy. He has joined the Leeds-based practice alongside MD Chris Harding and co-directors David Allwood, Matthew Potter, and Robert Redmond.  Liam will help to steer the business through its growth strategy, leading a team of 45 people in delivering service excellence across all civil, structural and geoenvironmental disciplines. Liam, 35, brings considerable experience having previously worked for national and regional specialist engineering firms as project lead for high profile schemes such as Panattoni logistics in Doncaster,  Media City Doncaster, Rolls Royce in Derby and Muscat Airport in Oman. Having already spent three years, pre pandemic at JPG, Liam was motivated to return for a more overarching business management and leadership role. Chris Harding said: “As we look to expand the practice, with plans to re-open our office in the Midlands, and work towards our succession planning, Liam will play a vital role in leading the process and managing client relationships.  His exceptional sector expertise, vision and work ethic is a rare combination, and he is already a fantastic asset for the business. “We continued to maintain steady growth with a strong order book, and we now have very strong leadership team in place to continue our long legacy and remain a valued, long term, strategic partner to our clients.” Established in 1988, JPG currently employs 45 people within its Leeds headquarters and provides civil and structural engineering services for clients throughout the UK. It covers all major development sectors with expertise in every aspect of civil and structural engineering from initial site investigation, detailed civil and structural engineering design and construction support.  JPG also offers dedicated consultancy services in Strategic Land Engineering, Geospatial Analysis and BIM Services. Recent projects include remediation and development of a 40-acre site for Marshalls CDP at Gorsey Point in Widnes and full civil and structural engineering services for Citrus Group and GMI Construction on Integra 61, a strategically important 640,000 logistic site in Country Durham.

Yorkshire property company purchases landmark Leeds city centre office building

Tess Egginton
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Yorkshire property company purchases landmark Leeds city centre office building
Yorkshire-based property company Rushbond PLC has acquired the landmark Bank House circa 90,000 sq ft office building in Leeds City Centre – once the regional headquarters of the Bank of England. The building presents a major short-term redevelopment opportunity for Rushbond, which has built a reputation for transforming significant and cherished locations and developments throughout Yorkshire. Bank House is one of the most striking buildings in the commercial district of the city. Located on the corner of King Street and Park Place, the building – which was purpose built for the Bank of England between 1969-1971 by Building Design Partnership, one of the largest practices operating in the 1960s – features an ambitious, European Brutalist-style design, clad in Cornish granite. Rushbond has plans to substantially restore the iconic exterior, whilst redeveloping and upgrading the interior to transform this significant building into a major sustainable, accessible, best in class office scheme. Rushbond believes the redevelopment will attract inward investment, as well as regional tenants looking for modern, high spec, sustainable office space in a super prime location, which is at a premium in Leeds city centre, with works anticipated to commence in 2026. Richard Baker from Rushbond said: “Bank House has an incredible history and we welcome the opportunity to secure the future of this landmark building. There is a huge demand for premium office space in the city, and at the top of tenants’ requirements are meeting their sustainability targets. “At Rushbond we believe it is clearly more sustainable to breathe new life into an existing building. By doing so we’re not only protecting some of the city’s most important assets, but we’re also offering future tenants the unique opportunity to be located in an energy efficient, contemporary space filled with character and integrity. We look forward to sharing more plans for the building in the future.”

Garness Group expands into York with Barry Crux & Company

Tess Egginton
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Garness Group expands into York with Barry Crux & Company
Garness Group is expanding across North Yorkshire with York-based Barry Crux & Company. The company will operate closely alongside Hull-based Garness Jones – bringing together the combined experience in the commercial property sector to cover East Yorkshire, North Yorkshire, and Lincolnshire. As part of the deal, Barry Crux & Company will continue to trade under the same name, with the same team remaining in their roles. However, it will now be part of the Garness Group of businesses including Pure Block Management, which provides management services for leasehold owners and developers of residential developments, Gro Residential Management, which manages and lets residential properties on behalf of landlords, and Garness Jones. David Garness, Managing Director of Garness Group, said: “We’re absolutely thrilled to be adding a company of the quality, standing and reputation of Barry Crux & Company to our offering. This is a positive step forward for all involved. “Expanding our work further into North Yorkshire has been a long-term strategic goal for us, as has securing more work relating to licensed properties, hotels and leisure sector properties. “To do this through adding a business with unrivalled knowledge and experience of the market in York and North Yorkshire is really pleasing. “Barry and his team benefit from becoming part of a well-established group of property businesses, which have an added collective strength which comes from working together closely and operating in similar markets. “It is certainly a perfect fit for us in terms of our ambitions to grow our business further in York and across North Yorkshire, where we have gradually grown our work in recent years across our various disciplines. In fact Pure Block Management already manages residential complexes in York and North Yorkshire so this move allow us to build on that activity. “Barry and his team have a proven reputation for providing the highest level of professional expertise and experience in both the commercial and residential property markets, and their ethos matches that of ours. “We have discussed this deal for quite some time and worked alongside one another and it has been clear that Barry’s team have exceptional knowledge of the market and are driven by providing the best service possible and achieving the best results for clients, so we see it being a seamless transition. “In fact, it will be business as usual for Barry Crux & Company and for Garness Group.” Barry Crux, a Chartered Surveyor and an Associate of the Chartered Institute of Arbitrators who has been involved in the commercial property market for 40 years, and established his business in 1989, said: “These are exciting times for us all to look forward to. “By joining forces with Garness Group our business will benefit from numerous synergies and back-up support services, and in a business environment becoming ever more demanding, this move will allow our team to refocus entirely on serving our client base and delivering a first class valuation and agency service, along with our other consultancy work. “With the benefit of greater collective resource we will be able to build upon our first class reputation and position in the licensed and leisure property sector throughout the north of England, whilst also enhancing our collective position in East Yorkshire, North Yorkshire and Lincolnshire.” Solicitor Matthew Smith, a partner of Andrew Jackson Solicitors who is based in the firm’s York office, and Mike Stocks, partner at Hull-based accountancy firm Smailes Goldie Group, advised Garness Group in the deal, with Matthew Morton, of Morton Legal, and Tony Farmer, of accountants and business advisory specialists Azets, advising Barry Crux & Company.
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