Mayor signs UK Steel Charter to support regional jobs

South Yorkshire Mayor Oliver Coppard has committed the South Yorkshire Combined Authority to revising its procurement processes to include more UK-made steel, supporting local jobs, supply chains and the economy. He’s the first Northern Mayor to sign the UK Steel Charter, which he did at Sheffield Forgemasters’ Brightside Lane plant in the city on behalf of the Authority and the newly-formed Business Advisory Board made up from industry experts from the local Chambers of Commerce, Make UK, CBI, Northern Trade Union Congress and Federation of Small Businesses amongst others. Mr Coppard said: “South Yorkshire was the home of the industrial revolution. By signing the UK Steel Charter, we’re signalling our commitment to back British steel – bringing high-quality jobs and growth right across our region. And that’s a priority I have for South Yorkshire. “We were the first to mass produce steel, we were the first to be an advanced manufacturing innovation district and now we’re the UK’s first investment zone. “And to sign the charter in a place like Sheffield Forgemasters, which is such a unique and important site, shows just what we can achieve in the region with UK made steel.” UK Steel Director General Gareth Stace said: “This is a triple boost of support as Mayor Coppard, the South Yorkshire Business Advisory Board and the Combined Authority join the UK Steel Charter. “Today’s support is even more poignant as the Charter is signed in Sheffield, the historical home of the UK steel industry.”

Manufacturing output falls but firms expect modest rise in quarter ahead

Manufacturers reported that output volumes fell in the three months to March, and at a similar pace to the three months to February, according to the CBI’s latest Industrial Trends Survey (ITS). However, manufacturers expect output to rise modestly in the quarter to June. Expectations for future selling price inflation edged up for the third successive month in March, with the balance rising further above its long-run average to its highest since May 2023. Total order books were steady compared with last month, and a little below their long-run average, but export order books deteriorated. The survey, based on the responses of 289 manufacturers, found:
  • Output volumes fell in the three months to March, at a similar pace to the quarter to February (weighted balance of -18%, from -19% in the three months to February), and disappointing expectations for marginal growth (+4%). Output is expected to rise modestly in the three months to June (+8%).
    • Output fell in 11 out of 17 sub-sectors in the three months to March, including the chemicals, motor vehicles & transport equipment, plastic products and metal products sub-sectors.
  • Total order books were reported as below “normal” in March and were broadly unchanged relative to last month (-18% from -20%) at a level slightly below the long-run average (-13%).
  • Export order books were also seen as below normal and deteriorated relative to last month (-29% from -14%) to below the long-run average (-18%).
  • Expectations for average selling price inflation accelerated in March (+21%, from +17% in February)—comfortably above the long-run average (+7%) and to the greatest extent since May 2023.
  • Stocks of finished goods were seen as more than “adequate” in March (+12% from +11% in February), with stock adequacy broadly unchanged since the previous month (+12% from +11% in February), in line with the long-run average.
Anna Leach, CBI Deputy Chief Economist, said: “It’s disappointing that manufacturing output volumes fell in the first three months of the year, underperforming last month’s expectations for a slight upturn. But manufacturers remain optimistic that conditions will improve in the quarter ahead. “Manufacturers expect selling prices to rise a little in the months ahead. With demand still subdued, this likely reflects some pressure on input costs over recent months, slightly higher oil prices, higher shipping costs amid the Red Sea disruption, and signs that the global industrial cycle is beginning to turn upwards after a difficult couple of years. “In a general election year, all parties must focus on fostering a business environment that will give UK manufacturers the confidence they need to invest and compete globally. The Chancellor’s announcement of plans to extend full capital expensing to leased and rented assets was a welcome step that will help smaller and medium-sized manufacturers in particular, but more clarity over its implementation would be welcomed.”

South Yorkshire aims to be part of the UK’s nuclear future

South Yorkshire Mayor Oliver Coppard has told 150 UK nuclear industry suppliers that he wants the county to be part of the next energy revolution. Speaking to supplier gathering in Rotherham at which GE Hitachi Nuclear Energy met  potential suppliers to discuss opportunities associated with the UK deployment of its BWRX-300 small modular reactor, he said: “In South Yorkshire, we are determined to be at the heart of the next energy revolution. Not simply because we’re building on our history at the heart of the first and second industrial revolutions, but because our wealth of talent, creativity and innovation will put us at the centre of the coming industrial and green economy revolutions.” GE Hitachi, the nuclear business of GE Vernova, wants to deploy its BWRX-300 SMR in the UK and Europe. It’s currently being considered by Great British Nuclear for UK deployment, and has entered the Generic Design Assessment process with support from the government’s Future Nuclear Enabling Fund. Sean Sexstone, exec VP for advanced nuclear at GE Hitachi, said at the Nuclear AMRC in Rotherham: “Our BWRX-300 SMR technology is an ideal solution for meeting the UK’s decarbonization and energy security goals. It is based on tried, tested and reliable technology, and partners in Canada, the US and Poland are already investing in our technology. We believe this makes our reactor the lowest risk and highest reward choice for Great British Nuclear.”

Vale of York farmer elected chairman of NFU’s Dairy Board

Vale of York dairy farmer Paul Tompkins has been elected as chair of the NFU’s national Dairy Board after serving four years as its vice-chair. He says his ambition is to create a vibrant, profitable, sustainable future for all farmers, but ads that it can be achieved only with effective regulation, a functional supply chain, a commitment to eradicating cattle diseases and growing access to markets at home and overseas.
“I want to focus on improving the environment in which our businesses operate, improving confidence in the future of dairy whilst acknowledging the challenge to do better. “The Fair Dealings Obligations (Milk) Regulations was laid in Parliament last month and the legislation is on track to reach assent this July. I would like to start my chairmanship with an open invitation to dairy farmers and processors to collaborate and embrace the opportunity this legislation brings to the UK dairy sector. “My work has only just begun, and together with other dairy farmers from every county in England and Wales who give their time, energy and commitment to the NFU, I will do all I can to help members navigate this point in time for dairy farming and seek the opportunities to help our industry thrive.” Paul will be supported by vice chair Ian Harvey, who helps run a family farm partnership milking 180 cows on about 400 acres in Cornwall.

Dacres sponsor girls U14 football in Ilkley

Dacre, Son & Hartley’s Ilkley branch has become kit sponsor of the Ilkley Town under 14 Lionesses, champions of the Harrogate & Craven Football League in 2022 and 2023. Paul Wilson, a director at the Ilkley branch said: “Ilkley Football Club is a fabulous community asset, where hundreds of people get to play and enjoy football. As a successful local business, that takes great pride in being immersed in the local communities where we operate, it’s a great time to sponsor the under 14 Lionesses and we wish them all the very best with the season ahead.” Ilkley Town has one of the largest numbers of female players in West Yorkshire, with more than 220 registered players aged from under six years old, right up to the women’s first team, who play in the West Riding First Division. More than 40 girls play in three teams in the under 14s, and the first team squad is made up of 16 girls. The team is coached by Russell Kennedy, Darren Wood and Steve Miles. Lead coach Russell said: “The girls are extremely talented, and very committed to all the training and matches. We train every Monday and play over 20 league and cup games each season, with our home games being played at Ben Rhydding Sports Club. “Following our consecutive championships, the Lionesses moved to West Riding Division One in September, which is the strongest and most competitive league in West Yorkshire. West Riding have six divisions in the under 14 age group and it is the most popular girls league in the UK, with the most registered players, so its a new but exciting challenge for the squad who are all grateful to Dacres for their support and the smart new kit.”  

North Yorkshire steel firm files Notice of Intention to appoint administrators

0
S.H. Structures Limited, a multi-award winning business in the field of steel fabrication and structures, has filed a Notice of Intention to appoint administrators. The company, which is over 30 years old, trades from Sherburn in Elmet and employs approximately 70 staff.

Due to losses on various contracts and a gap in production scheduling due to projects being delayed, the directors of the company have filed a Notice of Intention to appoint administrators Andrew Mackenzie and Louise Longley of Begbies Traynor to protect the company whilst options are explored and a buyer sought for the business.

S.H. Structures designs, supplies, manufactures and installs complex steel structures. Last year the business manufactured and installed the 46-metre-long pedestrian bridge, weighing 86 tonnes, at Forge Island in Rotherham, linking the flagship development with the town centre.

Streets Chartered Accountants covers Virtual Finance Offices, Working Capital Cycles, Annual Tax on Enveloped Dwellings, and more in new news roundup

Streets Chartered Accountants covers Virtual Finance Offices, Working Capital Cycles, Annual Tax on Enveloped Dwellings, and more in its latest monthly news roundup.

New Virtual Finance Office (VFO) service

We are often asked what is a Virtual Finance Office or VFO? A Virtual Finance Office replaces the more traditional in-house finance department or team, with an external third-party virtual finance team.

Outsourcing your finance function often involves the sending out of work just for processing. In contrast a Virtual Finance Office not only provides the processing of transactions and production of information, but also greater additional financial input, support and advice. Read more.

Every business has a working capital cycle. This is the time it takes for your business to turn net current assets into available cash.

The longer the working capital cycle, the more time it takes for your business to get a robust cash flow. It’s good practice for businesses to manage their cycle by looking at each step where possible. This could be by selling stock or product quicker, collecting monies owed sooner and possibly paying bills later on. Read more.

However, the charge can apply to any UK residential property wholly or partly owned by a company (including a partnership with a corporate member). Read more.

The Budget 2024 – catch up!Last week Streets hosted a post Budget webinar, ​​​​​​​providing 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. Watch now.

South Yorkshire’s Supertram back under public control

Today (Fri 22 March) South Yorkshire’s Supertram is back under public control after 27 years. South Yorkshire’s Mayor, Oliver Coppard, has hailed the historic day as ‘one small step for tram’ as new and ambitious plans have been developed to significantly improve the trams. The Mayor plans to create a bigger and better tram network that is fully integrated with other modes of transport, and is cleaner, greener and safer, getting people to where they want to go and connecting communities. As the South Yorkshire Mayoral Combined Authority has only just taken over the contract, customers won’t see a big change just yet, but some improvements will take effect today and in the coming days.
  • A 10% discount on some tram-only fares for the first 100 days of operation has been introduced which will apply on 1, 5, 7 and 28-day adult and child tickets purchased onboard or through the new app.
  • A new Supertram ticketing app has been launched through which customers can purchase tickets and store tickets on their smart phone. Later this year, a journey planning capability will be added to the app which will cover all modes of transport. The app can be downloaded from Google and Apple stores.
  • A new Supertram website will have all the information customers need about tickets and their journey.
  • Within the first 100 days of operation all tram shelters and stops will be deep cleaned.
  • There will be a review of the tram timetable, looking at opportunities for it to change to better serve passenger demand.
Supertram has been running at a loss over the years and lack of investment has meant a poor experience for passengers. One in three people in South Yorkshire do not have access to a car, and with a target to achieve carbon net zero before 2040 and clean up the air quality, the intent is to get more people to use public transport and make it a more positive experience. As part of this, a public survey has been launched to get people’s views on improving the trams including on personal safety, cleanliness, condition and maintenance of seating, tram stop information, bike facilities and being able to take a dog on a tram. The survey is on the Supertram.com website and the closing date for responding is 30 April 2024. As well as hearing from the public on what they want to see, generation changing improvements are afoot with plans to refurbish all of the trams by March 2027 and have a whole new fleet rolled out by 2032, subject to government funding. An investment case to government has been submitted this week. There are plans to open a new tram stop later this year at Magna in Rotherham which will serve communities in Blackburn Meadows, Templeborough and Deepdale. Opportunities are also being explored for further expansion in Sheffield to Stocksbridge and Barrow Hill on a tram-train line and Chesterfield with potential for more such as connecting to hospitals. Work is also happening to increase Park and Ride capacity at Rotherham Parkgate and over the coming weeks, there will be improved signage for the existing cycle parking facilities at Park and Rides. There are plans to explore where more bike and ride facilities can be developed. Crucially, taking the trams back under public control means integrating it with buses, train and active travel can become a reality, creating a London-style fully integrated public transport system and a healthier region. The Mayoral Combined Authority is currently in a statutory process for bus franchising and a recent Franchising Assessment concluded that bus franchising, where the MCA owns the depots and fleets and has control over the routes, fares and standards is the preferred option. The next step is an Independent Audit. South Yorkshire’s Mayor, Oliver Coppard, said: “For thirty years we’ve seen and felt the consequences of our public transport network being run by private operators who have failed to run our buses and trams in the interests of our communities. “We are now starting to dismantle that system. Today is a historic day for South Yorkshire; it’s one small step for tram, but it’s the first step in our journey back to a public transport system that puts people first, connecting our communities and helping us to build a bigger and better economy. “South Yorkshire Supertram is ours again. But we’re inheriting a South Yorkshire Supertram that simply hasn’t had the investment it has needed for far too long. So today we start to turn that around. “It won’t be quick or easy, but my commitment is to create a South Yorkshire Supertram network that gets the support and care it needs to deliver for South Yorkshire. “As we start to put the ‘public’ back in public transport, we will be asking people – both passengers and people who’ve stopped using the tram – what they want from Supertram, be it more stops and more lines or allowing bikes on the tram, we’re launching a new ticketing app and making the case to government for the money to invest in new tracks and trams. “I’m determined to give people more freedom and choice about how they travel and move across the whole of South Yorkshire. Today is a big step on that journey.”

Sheffield takes a new stance on outdoor advertising restrictions

Sheffield City Council is to introduce a new advertising and sponsorship policy going beyond national legislation to control the way in which a number of products are promoted – even if it means turning down income opportunities. From April 1st its new policy will include restrictions on advertising products covering high fat, salt & sugar (HFSS) food and drinks; alcohol; gambling; vaping; and high carbon/fossil fuels. The policy – developed over a two-year period – will be formally adopted with effect from 1 April 2024 and a two-year review period has been set to allow for assessment of developments both within Sheffield itself as well as nationally. Many of the products and services that the Council has voluntarily restricted are often targeted at the most vulnerable groups in society, who are generally more at risk from harmful adverts. By removing harmful adverts from around the city, the Council hopes to have more space for those products and campaigns that bring benefits to both our health and the environment. Terms have been included that will enable the Council to successfully negotiate commercial third-party agreements in relation to major events and long-term leases, and to support local businesses in promoting products and services. This balanced approach allows a progressive attitude to improving lives while embracing opportunities for the city to attract the best and most commercially viable prospects. Greg Fell, Director of Public Health at Sheffield City Council, said: “Health is often framed as a personal thing – if only we took more personal responsibility. But we know what’s upstream of that. We know corporations spend huge sums of money to shape how we spend our money. That matters, because that has health consequences. It sets norms. “There’s a really high level of public support against adverts that are causing public harm, especially to our kids. That is happening in Sheffield, right now. “It’s a really important step in the right direction that the council has taken.” Consideration has been given to how policy restrictions will result in saying no to some income opportunities, but a supporting marketing plan will actively promote opportunities to reach acceptable businesses and support will be available to help brands create acceptable adverts under the new policy terms. Where existing contracts are in place, adopting the policy restrictions would be encouraged but not enforced. All new contacts would be agreed under the terms of the Advertising and Sponsorship Policy.

Managing Director hire and new Leeds office for honey

Housebuilder honey has revealed the opening of a 5,000 sq ft office in Leeds this June and the immediate hire of a Managing Director to deliver its expansion plans in Yorkshire and the Midlands. honey has recruited former Avant Homes Central Managing Director, Chris Coley, to lead two newly created operating regions, honey Yorkshire and honey Central. The honey Yorkshire team will be based in the new Leeds office which has been taken on a seven-year lease and is located on the Thorpe Park Leeds development just off junction 46 of the M1. Prior to joining the business, Chris worked at Avant Homes for almost 19 years where he was a colleague of honey founder and former Avant Homes Chief Executive Officer, Mark Mitchell. Since being launched in October 2022, honey has secured 14 sites across Yorkshire and the Midlands that will deliver 1,781 homes and a combined gross development value of £530m. The average selling price of a honey home is £300,000. The company is backed by private equity firm Alchemy Partners and its Alchemy Special Opportunities Fund IV which has £937m of fully committed capital. Chris Coley said: “honey is a business with a clear purpose and a huge amount of ambition so it’s exciting to be able to lead the company’s expansion throughout Yorkshire and the Midlands. “I’ve been tasked with maintaining honey’s momentum as we simultaneously build and sell our homes whilst finding and securing further residential development opportunities.” honey currently employs 52 people across both office and site-based roles and, once the Leeds office opens, will have capacity for 84 office-based people. Chief Executive, Mark Mitchell, said: “Chris joins us at a time when we want to accelerate our growth plans and, along with our senior management team, he has overall responsibility for their delivery. “Now we have two operating regions, and will soon have offices in both Leeds and Sheffield, we have the platform required to deliver ongoing sustainable profitable growth.”