LATEST ARTICLES

Leicester updates scaffolding and skip licensing rules

April Lara
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Leicester updates scaffolding and skip licensing rules

Leicester City Council has introduced new guidance outlining licensing requirements for scaffolding, skips, and hoarding on public highways. The updated policy aims to clarify regulations for contractors and ensure compliance with safety standards.

The changes require scaffolders to apply for a licence well in advance, except in emergencies. Applications must include detailed site plans and traffic management arrangements to demonstrate that safety risks have been properly assessed. Skips also need a licence, even if they are placed on the highway for a short time.

City officials emphasise that while many contractors operate responsibly, some fail to meet legal requirements. The council has made the guidance easily accessible to remove any excuses for non-compliance. Enforcement will be stricter, with breaches leading to action ranging from warnings to prosecution.

The policy update follows consultation with the scaffolding industry, which has welcomed the increased clarity.

Derby electric bus project scrapped as funds reallocated

April Lara
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Derby electric bus project scrapped as funds reallocated

Derby City Council has cancelled its £11.5 million electric rapid transit (eRT) project, citing post-pandemic economic challenges. The scheme, announced in 2020, aimed to introduce 12-metre electric buses to improve city centre connectivity, but was deemed financially unviable.

The project was initially part of a £161 million government-backed transport improvement package for Derby and Nottingham. Nearly £500,000 had been spent before its cancellation, with £11 million reallocated to other local transport initiatives with Department for Transport approval. Plans for new Park and Ride buses were also scrapped, freeing up an additional £6.4 million, which has been redirected to cycle routes and public realm improvements.

Council officials noted that while the eRT project had potential benefits, it would have required long-term revenue support, which was unavailable.

Nottingham Council approves cost-based leases for community centres

April Lara
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Nottingham Council approves cost-based leases for community centres

Nottingham City Council has approved plans to introduce cost-covering leases for community centres, replacing previously proposed market-rate rents. The move aims to keep centres open while improving the Council’s financial sustainability.

Under the new lease agreements, set to take effect by April 2026, community associations will take on responsibility for repairs, maintenance, and compliance. As third-sector organisations, they will have access to funding streams unavailable to the Council, helping cover operational costs.

The Council will support associations with training on grant applications, business planning, and procurement to ensure long-term viability.

Spring Statement 2025 – a defensive play or offensive push for growth?

Tess Egginton
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Spring Statement 2025 – a defensive play or offensive push for growth?
James Pinchbeck, partner at Streets Chartered Accountants, reflects on the Spring Statement. In delivering her first Spring Statement, Chancellor Rachel Reeves made it clear that this government intends to follow the principle of a single annual Budget, with major tax changes reserved for the Autumn. The Spring Statement, instead, is positioned as a fiscal checkpoint, a chance to update the nation on the economic outlook and to adjust financial levers as needed. For many businesses and individuals, the most immediate takeaway will be relief in that there were no further tax increases. That said, there was also no reversal of previous tax hikes, nor any uplifting announcements such as increases to the personal allowance or adjustments to frozen tax thresholds. Those hoping for fiscal giveaways will have found little to cheer about. As anticipated, the Chancellor’s focus was on tightening public spending. With the UK economic growth forecast for 2025 revised downward from 2% to just 1%, the pressure is on to rebalance the books. Lower than expected tax revenues and rising borrowing costs have left the Treasury with less fiscal headroom, prompting action. The Chancellor cited global geopolitical tensions and instability as major headwinds, but much of the UK’s stagnation has been homegrown with a combination of suppressed consumer confidence and cautious business investment. Households continue to grapple with the cost-of-living crisis, while employers face increased staffing costs, notably from the rise in National Insurance contributions from 6th April. Public sector reform, transformation or austerity 2.0? A key announcement was the creation of a £3.25bn Public Sector Transformation Fund, aimed at shrinking the size of the state and boosting productivity through AI and digital innovation. This includes structural changes such as the dissolution of NHS England, in an effort to cut costs and improve decision-making. There will also be further tightening of welfare budgets, with cuts to Universal Credit and other support mechanisms flagged as part of the savings drive. A defence led growth strategy? Perhaps the most headline grabbing shift is the government’s framing of defence spending as an economic growth strategy. With £400m earmarked for defence innovation, particularly in AI and drone technology and a commitment to increasing defence investment as a percentage of GDP, the Chancellor declared her ambition to make the UK a “defence industrial superpower.” To complement this, capital spending commitments will continue with a £2bn increase, alongside a renewed push to meet housing targets and accelerate homebuilding. Whether this marks a bold new direction for economic strategy or a reactive shift to global instability remains to be seen. What’s clear is that growth is now expected to come from defence procurement and infrastructure investment, rather than tax cuts or consumer led stimulus. As ever, the effectiveness of this strategy will depend not just on the vision, but the execution. Businesses, investors and households alike will be watching closely. For the devil in the detail and tax planning advice for 2025/26, including managing the increase in employer’s national insurance, there is still time to book for Streets Chartered Accountants’ post Spring Statement webinar which takes place from 11am until 12noon on Thursday 27th March. Watch live or on catch up! Register to join live and/or to receive a post broadcast recording to watch on catch up. https://www.streetsweb.co.uk/about/events/the-spring-statement-2025-what-will-it-mean-for-you/

Chesterfield packaging manufacturer reports “substantial sales growth” in 2024

Tess Egginton
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0
Chesterfield packaging manufacturer reports “substantial sales growth” in 2024

Robinson, the custom manufacturer of plastic and paperboard packaging, has reported “strong progress” for 2024, in its audited results for the year.

Revenue at the firm jumped 14% to £56.4m, up from £49.7m in 2023, while underlying operating profit increased to £3.2m, from £2.2m.

The business, meanwhile, posted a loss before tax of £3.8m, expanding from £0.7m in 2023, as a result of non-cash and non-Company costs of £3.7m related to the buy-out of the defined benefit pension scheme and a non-cash impairment charge of £1.7m related to start up issues at the company’s Denmark operation. Interventions, however, are delivering improvements and expected to return the operation to profitability in 2025.

Alan Raleigh, Chairman, said: “I am pleased to report strong progress in 2024. Our results build on the positive momentum experienced in the second half of 2023, with substantial sales growth of 14% to £56.4 million, gross margin increasing to 20% and a 45% increase in underlying operating profit to £3.2 million.

“This confirms that our strategy of partnering with major FMCG brand owners, investing in new technology, driving efficiencies, and supplying sustainable packaging is delivering the anticipated results.

“Our excellent customer relationships have created a very strong sales pipeline for 2025, and as our customers respond to new market opportunities, we see additional growth potential in future years. As we grow revenue and underlying volumes, we will continue to drive improved efficiency and profitability across our operations.

“The underlying performance of the business gives the Board confidence to recommend an increase in the final dividend to 3.5p per share. This brings the total dividend declared for 2024 to 6.0p (2023: 5.5p).

“Progress has also been made on the buy-out of the defined benefit pension scheme, but the closure of the scheme has resulted in a non-cash and non-Company cost of £3.7m included in our income statement (required by accounting standards despite no impact on shareholders’ funds).

“The disposal of surplus properties, with some sales expected to complete in 2025, will further improve our financial leverage and ability to support attractive growth projects.

“Finally, despite strong progress in H2 2024, there is a non-cash impairment charge of £1.7m related to the Denmark operation due to start up issues earlier in the year associated with processing post-consumer recycled resin, demand variability and a longer learning curve than anticipated on the large project implemented there.

“Pleasingly, interventions during the second half of 2024 are already delivering improvements and are expected to return that operation to profitability in 2025.

“In combination, these other items have resulted in a Group loss before tax of £3.8m (2023: loss before tax £0.7m).

“Despite these non-recurring items, the combination of volume and revenue growth, efficiency and profitability gains, improved financial leverage and new leadership, gives the Board confidence that we are well placed to compete and win.

“As such, we expect underlying operating profit for the 2025 financial year to be ahead of 2024, and ahead of current market expectations. We remain committed to delivering above-market profitable growth and our target of 6-8% underlying operating margin.”

Former bank and bar in Daventry could be converted into apartments

April Lara
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Former bank and bar in Daventry could be converted into apartments

If planning approval is granted, a former Halifax bank and the adjacent Retro Bar in Daventry could be redeveloped into nine apartments. The site, located at the corner of High Street and New Street, is owned by Achrom Limited, which has submitted a proposal to convert the upper floors into residential units while retaining the former bank’s ground floor for commercial use.

The plans include four one-bedroom and five two-bedroom flats, replacing the 17-room HMO setup. To improve the exterior, proposed changes to the building include reopening blocked windows, installing new doors, and repairing or replacing broken windows. Due to its central location and access to local amenities, the development will not include on-site parking.

The project aims to bring the long-vacant building back into use, addressing concerns over its deteriorating condition and its impact on the town’s appearance. The proposal is open for public consultation, with a final decision expected by the end of April.

Kettering hospital secures £713k for solar panel installation

April Lara
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Kettering hospital secures £713k for solar panel installation

Kettering General Hospital (KGH) has received £713,000 in funding to install over 1,000 rooftop solar panels, which is expected to reduce energy costs by approximately £150,000 annually.

The investment is part of the initial phase of nationwide funding from Great British Energy, the Labour government’s new state-owned energy company. It is separate from KGH’s planned £57 million energy centre project and the hospital’s scheduled rebuild between 2032 and 2034.

The hospital estimates savings of around £3 million from the solar panels. Nationally, the programme is projected to save the NHS £8.6 million per year and up to £260 million over the panels’ lifespan.

Sales soar at Next

Tess Egginton
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0
Sales soar at Next
Enderby retailer Next has seen profit and sales soar in the year to January 2025. The company saw total group sales of £6.3bn, up from £5.8bn in the year prior. Meanwhile, pre-tax profits passed £1bn, growing from £918m. Maintaining this momentum, full price sales in the first eight weeks of the year have been ahead of Next’s expectations, seeing the business upgrade its financial guidance for the year to January 2026. The firm has now put full price sales guidance for the first half to be up 6.5% (from 3.5%), resulting in sales for the full year being up 5% (from 3.5%). Moreover, pre-tax profit guidance has increased by £20m to £1.066bn, up 5.4%.

Microlise delivers record performance

Tess Egginton
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0
Microlise delivers record performance

Microlise Group, a provider of transport management software to fleet operators, has hailed “strong” results for 2024, delivering a record performance.

Revenue at the Nottingham-based firm grew to £79.5m, according to audited results, increasing from £71.7m in 2023. Meanwhile, adjusted profits increased 16% to £6.5m.

A cyber incident cost the business £4.4m, though this is expected to be covered in full by cyber security insurance.

The year further saw over 375 new customers, including companies such as GSF, Woolies, STAF and FSSI, and 52 contracts were renewed, including JCB, Bidfood, Sainsbury’s and Cemex.

Microlise also experienced strong international growth with new direct customers secured in Australia, New Zealand and France.

Nadeem Raza, CEO of Microlise, said: “Microlise delivered record performance in FY24, exceeding market expectations in cash levels and adjusted EBITDA which is reflective of our comprehensive growth strategy and continually improving customer offerings. We have continued to secure major customer contracts and have renewed our longstanding partnerships with longstanding customers such as JCB.

“Toward the end of the year, the hard work of the Microlise team and our previous commitment to cyber security ensured that we successfully navigated a cyber security incident, loosing no customers and we have continued to build and convert our new business pipeline.  

“We remain focused on improving our customer offering and expanding our international business in key geographies such as Australia, New Zealand and France. Our strong pipeline, paired with our growing international footprint gives us much to look forward to in 2025 and I would like to thank everyone at Microlise for their hard work in the period.”

Nottingham City Council puts focus on long-term financial stability

Tess Egginton
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0
Nottingham City Council puts focus on long-term financial stability
Nottingham City Council’s Corporate Scrutiny Committee met yesterday (26 March) to review progress on the Council’s multi-year Improvement Plan. The Council reported that most of its eleven key programs are currently on-track. This positive news comes alongside its recent approval of the five-year Council Plan and confirmation of the Council’s current financial stability. While making strides forward, it has been highlighted that the Council needs to keep working on two specific areas: ensuring ongoing financial sustainability (Programme 4) and strengthening financial management (Programme 5). The Council claims to have already taken “strong steps” to address these through its finance improvement plan, for example now having healthy reserve funds, an improving financial performance, and its 2024/25 general fund spending anticipated to be very close to its budget. Looking ahead, the Council has significantly reduced its budget gap for 2025/26 to approximately £20.79 million – an improvement from the £41 million gap faced in 2024/25, and this gap is expected to shrink further. The Council added: “With our finances now stable, we’re focusing on achieving full financial sustainability. This will involve successfully implementing our planned transformation program, with a key goal of having a completely balanced budget by 2027/28.”
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