Charity Commission fires bankers a broadside over poor service

Stuart Pearcey
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Charity Commission fires bankers a broadside over poor service
Charity trustees have experienced poor service from their banks in the last 12 months according to a new survey by the Charity Commission – and it’s simply not good enough, says the organisation’s Chief Exec. She’s Helen Stephenson, who said: “I’m shocked, but not surprised by these new figures, which offer undeniable evidence of the extent and impact of the appalling service charities receive from some banks. “It is simply not good enough that volunteer trustees, who are giving of their free time to serve society, are faced with such unnecessary challenges in managing their charities’ money.

“We have worked behind the scenes with banks to improve the service they provide to charities. So far, I have been disappointed with their response. I hope this new research sends a message to the CEOs of high street banks that change is needed now.”

Her comments are based on a survey which found the following, with some charities experiencing more than one problem:
  • Four in ten charities had poor service from their bank
  • 32% of respondents faced issues when trying to update their charity’s contact details or signatories
  • 18% had difficulty trying to open a new bank account
  • 15% found it challenging to comply with identity requirements set by their bank
  • 14% found it difficult to understand what their bank required of them
  • 6% of respondents confirmed that they had experienced account freezes or being blocked out over the past year.
  • 7% of respondents reported that their bank had lost their records.
The Charity Commission has renewed its calls for urgent action to be taken by the UK banking sector to improve the service it offers to charities. The regulator says inadequate banking services result in three key concerns:
  • Risks to the provision of charitable services, resulting from charities being unable to meet financial obligations, such as paying staff
  • Unsafe banking and financial practices, for example the use of trustees’ personal bank accounts to meet financial obligations, a direct contravention of the Commission’s guidance
  • Longer-term impact on morale of volunteer trustees – anecdotal evidence demonstrates some trustees have resigned over frustrations around disruptive banking services.

Space Hub Yorkshire gets share in £500k from UK Space Agency

Stuart Pearcey
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Space Hub Yorkshire gets share in £500k from UK Space Agency
Space Hub Yorkshire is one of six projects to get a share in £500,000 from the UK Space Agency. The announcement was made at Space-Comm Expo following publication of the government’s Space Industrial Plan, and is intended to foster collaboration between the UK’s network of space clusters. Space Hub Yorkshire is part of Space North, along with the North West Space Cluster and Space North East England, and will showcase the region’s resilient communications expertise, attract inward investment and boost research and collaboration. Dr Paul Bate, Chief Executive of the UK Space Agency, said: “With entrepreneurs and businesses from across the UK space sector at Space-Comm Expo, I’m pleased to announce this series of targeted projects to support the continued growth of our space ecosystem and deliver on the government’s Space Industrial Plan.

“Hot off the heels of the Chancellor’s Budget boost for Low-Earth Orbit satellite manufacturing in the UK, these new projects will help catalyse investment, increase collaboration and boost prosperity across the country.”

Family-owned construction firm promotes three to board

Stuart Pearcey
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0
Family-owned construction firm promotes three to board
Family-owned Leeds-based construction company Jack Lunn Ltd has promoted three senior team members to its board. Nicola Thompson becomes Financial Director, having joined the business in 2021 as Financial Controller and Company Secretary. After ten years at Jack Lunn Ltd, Rob Jerram has been promoted from Commercial Manager to Director. With more than 30 years’ experience in quantity surveying across all key construction sectors including, residential, commercial, industrial, care and education, Rob assumes a directorial role in contract tender and management processes. Luke Simeunovich first joined Jack Lunn Ltd in 2002 as an apprentice joiner, climbing through the ranks in site management and contracts management over 21 years.  His considerable industry expertise and intimate knowledge of the Jack Lunn culture places him well as a board director helping to drive the future of the business. Jack Lunn Ltd is associated with the Jack Lunn Group, a long established and highly successful privately owned property and development company in Yorkshire.  Founded by Jack Lunn in 1949, the Group has maintained private ownership through three generations, with his son Roy Lunn and now his grandson Andrew Lunn as Chairman. Andrew Lunn said: “The Jack Lunn brand is recognised for delivering high quality, valued engineered solutions for its clients and our family driven values have allowed us to stand the test of time. My late Grandfather, Mr Jack Lunn, was a real advocate for the old-fashioned art of conversation and a hands-on approach to establish intimate knowledge and trust with clients. We are good at what we do, and good relationship management through our highly skilled team is fundamental to that.”

Streets Chartered Accountants reflects on the Spring Budget

Tess Egginton
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Streets Chartered Accountants reflects on the Spring Budget

Post Budget Webinar

Today Streets hosted its post Budget webinar in which it provided details of the announcements along with an update on topical issues affecting business clients and private individuals for the new tax year 2024/25.

This presentation was recorded and is now available on demand for those who weren’t able to join live. Click here to catch up.

A Budget built on loss leaders or a leadership that might have lost its way? Was it more ‘Middle Lidl’ than Middle England? The headline grabbing announcement from the Chancellor Jeremy Hunt’s Spring Budget, and perhaps his last before an election, was the 2% cut in rate of National Insurance. This second cut follows a similar cut given in last year’s Autumn Statement and comes with an election looming. Read more.

More families will be eligible for Child Benefit

What has previously been thought to be an unfair system, with eligibility for Child Benefit being withdrawn when one parent earns more than £50,000, now sees a welcome change.Currently, if one partner earns more than £50,000, child benefit starts to be gradually withdrawn, and where the individual earns more than £60,000, they do not receive child benefit at all. Read more.

Guide to The Spring Budget 2024 The 2024 Spring Budget contained some important announcements and confirmed a number of changes planned for the new tax year. Following this, Streets put together a report containing the latest tax and financial information, which is available to download using the link below.

Download now

Mayor reveals tram ambition to link Leeds and Bradford

Stuart Pearcey
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Mayor reveals tram ambition to link Leeds and Bradford
Plans for a tram system running between Leeds and Bradford have been set out today by West Yorkshire Mayor Tracy Brabin, with building starting as soon as 2028. Phase one would include two lines serving Leeds and Bradford, The Leeds Line and the Bradford Line. The Leeds Line would take people between St James’ Hospital, through Leeds city centre and on to Elland Road and the White Rose Shopping Centre. The Bradford Line would run from Leeds city centre to Bradford city centre – also linking Bradford Forster Square station with the new Bradford rail station. This line supports Bradford’s plans to regenerate the city’s southern gateway, which includes the new Bradford rail station. The Combined Authority would also work with Kirklees Council to look into how to include a Dewsbury Line in future. Tracy Brabin said: “Today is a key milestone in our plan to create a better-connected region that works for all. By setting out our plans to submit to government, we are taking a major step forward towards the biggest infrastructure project West Yorkshire has seen since the development of the motorways six decades ago. “This will be transformational for the North, helping our communities to thrive and our economy to flourish – benefitting generations to come with greater opportunity and prosperity. “We know that mass transit systems have successfully helped to regenerate areas right across the country by boosting connectivity, opportunity and prosperity – and we will work tirelessly to make sure that happens here in West Yorkshire.” The project will be subject to a full business case and approvals process. Today’s announcement does not pre-empt the exact route, which will be subject to full public consultation. The Combined Authority will ask the public to have their say in the summer on the possible routes, with the two “phase one” Leeds and Bradford lines expected to be joined later by potential further schemes covering the rest of the region. It will also work on a £1 million mass transit development fund to be set aside to support the Dewsbury Line Development Project, which will look into how to get mass transit to connect Kirklees with Leeds. The mass transit system will form a key part of a wider integrated transport system in the region, seamlessly integrating with bus, rail, cycling and walking, so that everyone can get across the region with ease.

Technology distributor expands into major new Yorkshire base

Tess Egginton
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0
Technology distributor expands into major new Yorkshire base

Exertis, the technology distribution and specialist service providers, has relocated its Yorkshire base to a major new distribution centre on the M62 corridor at Lowfields Business Park in Elland.

In an off-market transaction, Exertis has expanded into a modern high specification distribution facility totalling 127,000 sq ft, which was previously occupied by online electronics and consumer goods retail giant, Buy It Direct.

Exertis, which is part of FTSE 100 listed DCC plc, has taken over Buy It Direct’s existing lease which runs until December 2031. The move has enabled Buy It Direct to consolidate its distribution centres, to improve efficiencies across the business, and relocate products into its existing distribution facility at Trident Business Park in Huddersfield.

Buy It Direct was advised on the deal by Leeds based property consultancy, GV&Co, alongside joint agent, Huddersfield’s Hanson Chartered Surveyors.

Nick Glynne, CEO of Buy It Direct, said: “Consolidating our warehousing and distribution centres will create significant efficiencies within our business, which will ultimately further enhance the level of service that our customers enjoy. We’re particularly pleased to complete this deal in such a timely manner, which was helped by the willingness and flexibility of all parties involved.”

Paul Mack, director at GV&Co, said: “To conclude this transaction within six weeks of being instructed, which was by no means straightforward, was an almighty effort. We are delighted to achieve such a fantastic result for our client, Buy It Direct, as well as being able to facilitate the continued growth of Exertis Supplies.”

Mark Hanson, of Hanson Chartered Surveyors, added: “This was a herculean effort by everyone involved to make it work in such a tight timeframe, but we’ve succeeded to everyone’s advantage, and I’m thrilled that we could pull it off for Buy It Direct and Exertis Supplies.”

GV&Co and Hanson Chartered Surveyors represented Buy It Direct alongside Levi Solicitors, whilst Pannone Solicitors represented Exertis.

Finance For Enterprise secures £25m capital funding

Tess Egginton
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Finance For Enterprise secures £25m capital funding

Finance For Enterprise, headquartered in South Yorkshire, has successfully secured a capital injection of £25 million from Lloyds Bank and Big Society Capital (BSC) under the second phase of the Community Investment Enterprise Fund (CIEF).

This forms a part of a larger £62 million investment initiative aimed at facilitating access to finance for small businesses across England and Wales, thereby bolstering local employment opportunities and economic growth.

The investment is channelled through three Community Development Finance Institutions (CDFIs) – Finance For Enterprise, BCRS Business Loans, and Business Enterprise Fund.

Lloyds Bank’s participation marks the first instance of a mainstream lender investing in the CDFI sector, signalling its commitment to fostering sustainable business practices and regional development, particularly in disadvantaged regions of the UK.

Within this investment framework, Finance For Enterprise has secured a substantial £25 million allocation. One of the beneficiaries from the initial phase of CIEF is the Estate Tea Company, based in Newcastle.

Founded by local entrepreneur Tom Webb, the company specialises in offering single estate, small batch, and hand-blended teas, supplying them to various establishments nationwide while also operating its own café and eatery in Newcastle.

With support from CIEF via Finance For Enterprise, Tom was able to relocate his business from a modest café in Gateshead to a more spacious venue, previously a plumber’s merchant, which he has transformed into a popular destination for tea enthusiasts throughout the day and night.

Andrew Austwick, Managing Director at Finance For Enterprise, said: “We are thrilled to have secured a significant portion of the CIEF Investment Fund. The success of the Estate Tea Company serves as an excellent example of how the CIEF fund can empower SMEs to thrive. I eagerly anticipate assisting more SMEs across the UK in benefiting from such funding opportunities.”

Elyn Corfield, CEO Business and Commercial Banking, Lloyds Bank, said: “Small and medium size enterprises are the heartbeat of the UK economy and as the largest domestic banking group, we have a proud history of supporting UK businesses to thrive.

“We’re therefore delighted to support the CDFI sector to back local businesses, with a focus on deprived areas, and ensure they have access to a range of financial options right for them. When local businesses flourish so do local communities and we hope our leadership within this second phase of CIEF will see many more areas of the UK succeed.”

Anna Shiel, Chief Investment Officer, Big Society Capital, said: “At Big Society Capital we care deeply about building fair opportunity through expanding the reach of investment into communities and supporting access to a more diverse set of business owners.

“Like the small enterprises they serve, the dedication of CDFIs to create long-term impact deserves greater backing. The combination of their hard work, and vital tools such as the Recovery Loan Scheme guarantee, has unlocked the potential to draw in more capital from institutional investors such as Lloyds, whom we are delighted to co-invest with in this fund.

“We are thrilled to see the work of partners come together in the next stage of CIEF and especially to see how the positive track record of these CDFIs is being noticed!”

Plans approved for 117 affordable homes in New Earswick

Tess Egginton
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0
Plans approved for 117 affordable homes in New Earswick

Much-needed affordable housing will be delivered in New Earswick in York after Joseph Rowntree Housing Trust’s (JRHT) planning application for 117 new-build homes was approved.

Brewster Bye Architects led the design for the scheme, which will also benefit from the wider garden village’s existing community facilities. It will have a tenure mix of 60% social rent and 40% shared ownership.

The homes will be built on land owned by JRHT, which is located north of Willow Bank in New Earswick.  Approximately a third of the site will be dedicated to open space. As part of the plans, two road junctions will be constructed to allow safe access, as well as new paths linking the homes to a nearby secondary school and the rest of the New Earswick.

Director, Mark Henderson, from Brewster Bye Architects, said: “We have used a style and materials that reflect the original village, which was built by Joseph Rowntree around 1904. With brick walls and clay roof tiles alongside arched doorways and intricate brick detailing, these homes will blend seamlessly with the surrounding area.

“Several of the homes will be located within cul-de-sacs and front garden hedgerows will form natural boundaries. The whole design will encourage people to walk and cycle in the green and tree lined surroundings.”

The plans include a mix of two and three bedroom houses, as well as one and two bedroom flats. The homes will be available between 2025 to 2028.

Leeds property agency appointed to manage trio of city centre developments

Tess Egginton
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Leeds property agency appointed to manage trio of city centre developments
A Leeds-based property agency has been appointed to manage three of Leeds city centre’s newest rental developments that have all given historic and character filled city centre buildings a new lease of life. Zenko Properties is an independently owned sales and lettings agency, which was founded in Leeds city centre in 2015 by Tobias Duczenko and which has recently appointed City Living pioneer, Jonathan Morgan, as a partner. The firm is now the letting and managing agent for Spencer House, Devonshire House and Lambert’s Yard, which total over 50 apartments. Tobias said: “Spencer House is the third new city centre scheme to join the Zenko portfolio in the past few months. It’s a newly developed scheme on Albion Place made up of 11 studios and one and two bedroom apartments. “Located just off Briggate but in a pedestrianised zone, the building is well placed for residents to be able to enjoy easy access to many of the city’s shops, bars and restaurants. “We have been entrusted by the landlord of Spencer House to take over this building as they were impressed with our recent success at Devonshire House, a scheme of 20 apartments in the heart of Leeds’ financial district on York Place, as well as the 19 apartments that make up Lambert’s Yard on Lower Briggate. “Despite competition from other agents for all these schemes, the three landlords saw us as the go-to city living agency and we now have just three apartments remaining across all three developments.”

Ripon Farm Services names new CEO

Tess Egginton
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0
Ripon Farm Services names new CEO
Ripon Farm Services has appointed Richard Simpson as its new CEO with Geoff Brown MBE becoming Chairman. Three years ago, RFS made the decision to strengthen the Board to ensure it had a structure in place to manage the future growth and succession of the company with the appointment of Richard Simpson as Commercial Director. Richard comes from a farming background and has extensive experience in transforming companies large and small and he brings a wealth of knowledge and a fresh perspective to Ripon Farm Services. In his new role as CEO Richard will have full responsibility for the strategic development of RFS and the day-to-day running of the business. Geoff Brown will continue to be ever-present in the company and advise on strategic direction to ensure the seamless transfer of knowledge and expertise. He will also be able to dedicate more time and energy to his upcoming charitable endeavours in his role as President of the Yorkshire Agricultural Society while, at the same time, ensuring a smooth leadership transition within the company. Geoff commented: “I would like to extend my heartfelt thanks to all employees, customers and the folks at John Deere who have been instrumental in our journey over the past 40 years. “The unwavering commitment, hard work, and passion have been invaluable in shaping the company into what it is today. That said we must keep moving forwards. There is a lot to do, and we must continue to improve, embrace innovation, and always strive to surpass customer expectations.” Joedy Ibbotson, Division Business Manager, John Deere UK, said: “Everyone at John Deere would like to sincerely thank Geoff for his continued and unwavering loyalty to the John Deere brand and all that he has achieved through his leadership of Ripon Farm Services. “Under his leadership the business has grown to become one of the largest and leading John Deere dealers in the UK. Geoff should be immensely proud of what he has built, for over 40 years his unrelenting commitment to serving farming and rural communities has been foundational to Ripon Farm Services’ success. “All of us at John Deere are incredibly grateful for all that Geoff has done to support and grow the John Deere brand. We look forward to continuing our long-standing partnership with Ripon Farm Services, as Geoff transitions into his new role and Richard takes over as CEO.” Geoff commented further: “I am thrilled to be able to have Richard at the helm. He has been instrumental in driving the changes we needed to make in the last three years, and I look forward to him leading the company through the required changes towards even greater achievements. Richard has a proven track record of driving growth, fostering innovation and nurturing talent.” Richard Simpson said: “This is an incredible honour and one which I am terrified about to be honest. Ripon Farm Services is a truly great business and following Geoff to lead the company is the most challenging thing I have ever done. What an incredible legacy he has built. We must all work together to ensure that the values on which the company is built are preserved and enhanced in the years to come.” Geoff concluded: “This is a very positive step forward for the company and we wish Richard all the best in his new role. I am confident that the new leadership will put us on course to ensure that the next 40 years is as successful as the previous 40.”
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