Kirklees Business News 23/04/13 by Huddersfield

FTSE 100

ADELE WHITFIELD Scaling the career ladder

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Full inter view - Page 3

COLIN BARRATT Capital considerations Column - Page 4

An EXAMINER publication

KIRKLEES BUSINESS NEWS The business NEWSpaper for Kirklees

Boss sets out late pay woes to MPs

A CONSTRUCTION company boss has taken his campaign against the “unscrupulous” payment practices of some major contractors to Parliament. And he warned that the UK’s economic prospects were being harmed by payment policies which put the viability of small and medium-sized suppliers at risk. Steven Sutherland, chairman of Huddersfield-based glazing specialist Dortech yesterday gave evidence to an all-Party group of MPs at Westminster looking into issues of late payment. Mr Sutherland hit the headlines last December by “boycotting” one of Dortech’s biggest customers – and sacrificing millions of pounds in potential orders – in protest at payment policies he says risk putting suppliers out of business. He was invited by Debbie Abrahams, Labour MP for Oldham East and Saddleworth, to give evidence to the MPs on the problems facing suppliers when contractors failed to pay promptly or invoked “withholding” notices which can delay payments almost indefinitely. Mr Sutherland was joined by representatives of other construction businesses in giving evidence to the panel, which also heard from representatives of major contractors. Mr Sutherland outlined the scale of late payment and the impact it was

■ PAY PROBE: Oldham East and Saddleworth MP Debbie Abrahams heard evidence on late payment issues from Dortech chairman Steven Sutherland

having on firms such as Dortech, which has about 50 employees, as well as the effects of the Prompt Payment Code, which contractors are encouraged to endorse. He said: “The big issue for me is that every £1 of taxpayers’ money the government puts into construction generates £2.80 for the UK economy – but if that money isn’t getting past the main contractors we will not see that growth. “You can only stimulate the economy if the main contractors on pro-

jects release their funds to the supply chain. In some cases, particularly among the bigger contractors, that has not been happening. “The effects are becoming visible in the marketplace. Companies are going bust because they cannot afford to invest in jobs and training – and the calibre and quality of the buildings going up are shockingly poor because if firms cannot get cashflow, they are making cuts.” Mr Sutherland said the problem also affected public sector contracts,

where Government agencies were supposed to adhere to the Prompt Payment Code. He told MPs how withholding notices – intended to be used by construction contractors where there is a disagreement over the valuation of a sub-contractor’s work – were being used by some contractors as a way to reduce the value of bills and delay payment regardless of the quality of the work or pricing. Mr Sutherland stressed: “There are some very good contractors – otherwise we would have shut up shop. But if they have to complete with companies that behave unscrupulously, how long will it be before they have to follow suit?” Mr Sutherland, who has previously raised the issue with the Department for Business Innovation and Skills, said the solution to the problem lay with government. He called for a system to monitor payment policies by contractors and exclude those not paying promptly from being considered for government contracts. Dortech has 20 years experience as a specialist glazing contractor – having manufactured more than £130m of windows, doors and curtain walling for schemes including schools, factories, offices and buildings at Huddersfield University’s Queensgate campus.

Shackletons settles down to more orders DEWSBURY furniture manufacturer Shackletons is sitting comfortably after showcasing its products at a key national show. Shackletons took its latest range of comfort furniture to the Bournemouth Care Show – and returned with a clutch of enquiries to herald a promising start to the financial year. Jason Bloom, national Sales manager, said: “There is no doubt we are operating in a challenging market, but the trend in our business has seen a sales increase of 40% this financial year with the Bournemouth Care Show indicating we are on track to continue at this rate of growth.”

He said care sector buyers were particularly interested in Shackletons’ “absolute understanding and experience of what it takes to manufacture home-from-home furniture that is designed not just for older people but dementia sufferers, too”. He said: “Without compromising on style or design, our person-centred approach is a winning formula when it comes to care homes looking to achieve a better quality of life for their residents. “Care home operators recognise quality of care is linked to better design within the care home environment and we manufacture our fit-for-purpose furniture with

those needs in mind.” Said Mr Bloom: “Although it is deemed as a challenging time for manufacturing, the care show illustrated there is demand for quality designed and manufactured furniture.” Shackletons has been making specialist furniture for more than 50 years and employs 65 people at its manufacturing and operations site on Weaving Lane, Dewsbury. It also has a retail site at Bradford Road in Batley. The company’s products include chairs, occasional chairs, dining sets, tables, beds and bedroom and dining cabinets.

■ TOP TEAM: Shackletons sales managers (from left) Lisa Gibbons, Jason Bloom, Sarah Thompson and Amanda Wells

INSIDE Excellent vision AN opticians group has won national honours. The Valli Group has been named winner of the Business Excellence category in the Optician Awards 2013. The group, which has six optical practices across Huddersfield and Calderdale, overcame strong competition to win the award, which was presented at a ceremony in Birmingham. Managing director Moin Valli, who founded the business with his wife Rachel, said: “We are absolutely delighted to win the award.”

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Property landmark A PROPERTY development and rental firm is celebrating 25 years in business. Towndoor Ltd, based at Meltham Mills, is looking forward to the next quarter century with confidence after successfully helping scores of firms to flourish over the years. The firm, which is marking its anniversary by flying special flags near its HQ building, provides commercial and industrial workspace for a wide variety of businesses.

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KIRKLEES BUSINESS NEWS

national

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Cable unveils new code for ‘pubcos’ THE Government has unveiled moves to help pubs struggling to pay rent or beer prices – with the aim of saving them thousands of pounds a year and stemming closures. Ministers announced plans for a new code of practice and the backing of a “powerful” adjudicator following complaints about a so-called “beer tie” under which landlords have to buy supplies from the companies which own pubs, often at high prices. The code would contain mandatory rules for all companies owning more than 500 pubs and would aim to stop abuses of the beer tie, which has been partly blamed for pub closures. Under the proposals, the adjudicator would have the power to enforce the code and deal with disputes through sanctions and fines. Business Secretary Vince Cable said: “We gave pub companies every chance to get their house in order – but despite

four select committee reports over almost a decade highlighting the problems faced by publicans, it is clear the voluntary approach isn’t working. “Pubs are small businesses under a great deal of pressure, many of which have had to close. Much of that pressure has come from the powerful pub companies and our plans are designed to re-balance this relationship. “Pubs play a valuable role at the heart of our communities and we urgently need a change to help them ■ LAST DROP: Pubs are closing at survive and become profitable. These an alarming rate, says Vince Cable plans will do just that and could save £15,000 a year and struggle to make pub tenants £100m per year by making ends meet because of rising beer prices sure that pub companies charge their and rent. tenants fair rents and beer prices.” “I have heard about a variety of Mr Cable said: “It has been a huge unfair practices such as large unjusticoncern of mine that pubs, often the fied increases in rent, and am clear that hub of our communities, are closing this sort of behaviour is not good down at an alarming rate. What is also enough. shocking is that the figures show that “These proposals will put a fairer almost half of tied pubs earn less than system in place and will make sure that

New jobs pledge

tied pubs are no worse off than free-of-tie pubs.” Dave Mountford, of the GMB union, said: “The test for tied tenants is whether this code is drafted in such a way that it will bring down rents to the same level as free-of-tie pubs. “GMB want to ensure that pubcos are not allowed to put up rents by the backdoor by overcharging for products tenants are tied to buy from them.” A Punch Taverns spokesman said: “We will be looking at the contents of today’s announcement in detail, but we remain confused by the Government’s attitude to pubs. “This year’s Budget provided much-needed support to Britain’s pubs, but the Government is now proposing a state-backed pubs quango. “A founding commitment of the Coalition was to reduce regulation, but ministers now seem intent on wrapping Britain’s pubs in red tape.”

Cold comfort for Reckitt sales

Betfair rejects approach

CONSUMER goods group Reckitt Benckiser reported a strong start to 2013 after a heavy flu and colds season boosted demand for Strepsils and Nurofen. The group, which owns brands including Harpic, Dettol and Durex, also made big strides in its rapidly-expanding markets of India, Brazil and China – driving a 6% rise in underlying revenues for the first three months of the year. Total revenues improved by 7% to £2.5bn and Reckitt said it is confident of achieving 5% to 6% growth for the year despite “continued challenging market conditions”. Reckitt benefited from a spate of

GAMBLING website Betfair backed its “unique” business and prospects after rejecting a takeover approach worth £910m. The bid proposal from CVC Capital Partners, the buy-out group behind Formula 1 motor racing, was rejected by Betfair on valuation grounds. CVC disclosed last week that it has held talks with other investors, including existing Betfair shareholder and entrepreneur Richard Koch, about a possible joint approach for the online betting exchange. The subsequent proposal from CVC valued the company’s shares at

flu and colds in the US, with successful launches of new products such as Strepsils lozenges for children and Nurofen heat patches. O t h e r i n n ova t i o n s s u ch a s Mucinex Fast Max and Sinus Max decongestants drove growth in the US, helping its European and North American division increase underlying sales by 3% amid sluggish consumer spending. Its Latin America and Asia Pacific region was the star performer once again, with growth of 11%. Re c k i t t , c o m p e t i n g a ga i n s t newly-introduced generic products, lifted underlying sales by 7% in Russia, the Middle East and Africa.

880p, compared with the 1300p seen on its stock market debut in 2010. Betfair says it is going through one of the “most exciting phases in its development”, thanks to a new strategy revealed in December and the appointment of a new management team led by chief executive Breon Corcoran. Chairman Gerald Corbett said: “We have a unique business with a market position, profitability, cash flow and prospects that this proposal fails to recognise.” Betfair’s betting exchange works by matching punters and allowing them to bet against each other.

SANDWICH chain Pret A Manger has pledged to create at least 500 UK jobs this year after its expansion drive helped annual sales leap by 13% to £443m. The company will hire about 1,000 staff worldwide in 2013 as it looks to expand its portfolio of 323 stores by 50 – with half of the new shops being pencilled in for the UK. About 15 of the stores will be based in London, with Leicester and Peterborough among other towns under consideration for the remaining 10. Pret said its new UK jobs will be supported by extending its employment programme for school leavers in September. It has so far hired nine school leavers under this scheme. The sandwich chain has 256 stores in the UK, where it has opened 19 in the past year.

Garden blooms THE maker of fly-on-the-wall documentaries including 24 Hours In A&E and Inside Claridge’s has been snapped up by ITV for at least £18m. ITV’s deal for independent producer The Garden, which is based in London, triggers a windfall for its founders Nick Curwin and Magnus Temple, who set it up the business in 2010. Both will stay with the company.

SHARE PRICES NORTH AMERICAN American Express £43.58 -0.48 Gannett 1349.67 +12.45 Hess Corp £44.26 +0.51 Microsoft £20.15 +0.65 Motors Liquidation 49.14 Wal-Mart Stores £50.86 -0.44 AEROSPACE & DEFENCE Avon Rbbr 369 -12 -67/8 BAE Systems 3731/4 Rolls-Royce 1113 -10 AIM Brady Plc 73 +11/2 AUTOMOBILES & PARTS GKN 2541/2 -13/4 BANKS Barclays 2891/2 +31/8 HSBC 6791/4 Lloyds Banking Gp 491/8 +15/8 Ryl Scotland 2861/4 +53/4 Stan Chart 1608 +10 BEVERAGES Diageo 1965 -10 SABMiller £335/8 -1/4 CHEMICALS Croda £253/8 -1/8 Elementis 98 2421/2 -5 3 Johnsn Mat £23 /8 -1/2 CONSTRUCTION & MATERIALS Balfour Beatty 2485/8 +2 Costain 279 -5 ELECTRICITY

Drax Gp 613 +31/2 SSE 1531 -1 ELECTRONIC & ELECTRICAL EQUIPMENT Laird 1997/8 +17/8 EQUITY INVESTMENT INSTRUMENTS Alliance Trust 4301/4 +1/4 FIXED LINE TELECOM SERVICES BT Grp 2765/8 -1 Cable & Wireless 417/8 +1/4 Comm Colt Group 1211/4 -31/4 KCOM 831/4 +13/8 Talktalk Telecom 252 +2 FOOD & DRUG RETAILERS Morrison W 2831/4 +21/8 Sainsbury 380 +21/4 1 Tesco 368 /8 +51/8 FOOD PRODUCERS AB Food 1850 +3 Tate Lyle 853 +151/2 Unilever £275/8 -1/8 GAS, WATER & MULTIUTILITIES Centrica 3851/8 +25/8 National Grid 7971/2 +2 1 Pennon Grp 661 /2 +6 Severn 1788 -7 United Utils 742 -1/2 GENERAL FINANCIAL 3i Group 323 +23/4 ICAP 2803/4 -53/8 London StockExch 1295 -1 1 Man Group 106 /8 -5/8 Provident Financial 1563

-1/8 Schroders £211/2 Schroders NV 1725 +4 GENERAL INDUSTRIALS REXAM 5121/2 -1/2 Smiths Grp 1210 -19 GENERAL RETAILERS Ashley L 285/8 -1/8 Carphone Whse 1941/2 -3 Dixons Retail 37 +13/4 Home Retail 1531/8 +1/4 Inchcape 4931/8 -47/8 Kingfisher 2911/2 +31/4 M&S 4001/8 +17/8 Mothercare 3001/2 +2 Next £43 -1/4 WH Smith 736 +6 HEALTH CARE EQUIPMENT & SERVICES Smith Nph 719 -1 HOUSEHOLD GOODS Aga Rangemaster 781/8 +1/8 Barrat Dev 3033/4 +51/4 Persimmon 1055 -75 Reckitt Benckiser £461/2 -5/8 Taylor Wimpey 91 +7/8 INDUSTRIAL ENGINEERING IMI 1164 -10 INDUSTRIAL METALS Ferrexpo 162 -45/8 INDUSTRIAL TRANSPORTATION BBA Aviation 2461/2 -13/4 LIFE INSURANCE Aviva 2951/4 -1/4

1695/8 1983/4 1032 249 3387/8 MEDIA BSkyB 836 D Mail Tst 6911/2 3 /8 HIBU ITV 1241/4 Johnston Press 15 Pearson 1124 Reed Elsevier 7611/2 STV Group 1331/2 Trinity Mirror 931/4 Utd Business 6711/2 UTV 161 WPP 1034 MINING Anglo American 15921/2 Antofagasta 8921/2 BHP Billiton 17621/2 Eurasian Natural 2841/8 Res Fresnillo 1116 Kazakhmys 3535/8 Lonmin 2571/8 Rio Tinto £287/8 VEDANTA 1128 RESOURCES Xstrata 937 MOBILE TELECOM SERVICES Inmarsat 697 Vodafone Group 1943/4 NONLIFE INSURANCE Lgl & Gen Old Mutual Prudential Resolution Standard Life

+3/4 -11/8 -4 -25/8 +45/8 1

-3 /2 +11/8 -1/2 +4 -1 +11/4 +11/2 +21/2 -13 -4 -10 -20 -67/8 -1 -321/8 -93/4 -3/8 -23 -20 +8 +11/2

Local shares Carclo Marshalls National Grid Weir Gp

370 1271/4 7971/2 £203/4

-4 -1 +2 -5/8

FTSE closed at

6280.62 Down 5.97 Admiral Grp 1327 -4 RSA Insurance Gp 1093/8 +11/4 OIL & GAS PRODUCERS BG 10301/2 -71/2 BP 4465/8 Cairn Energy 2791/4 -55/8 Royal Dutch Shell A £21 +1/8 1 Royal Dutch Shell B £21 /2 Total £305/8 +1/4 Tullow Oil 1046 -2 OIL EQUIPMENT & SERVICES AMEC 9651/2 -34 Petrofac 1267 -35 Wood Gp(J) 7891/2 -14 PERSONAL GOODS

Burberry Gp 1279 -20 PHARMACEUTICALS & BIOTECHNOLOGY 1 Astrazeneca £33 /2 GlaxoSmithK 2 Shire 1982 +15 REAL ESTATE Brit Land 581 +81/2 Hamrsn 513 -1 Intu Properties 3431/8 -1/2 Land Secs 870 +7 SEGRO 2557/8 +2 SOFTWARE ETC SERVICES Invensys 346 -11/4 Sage Group 3365/8 -4 SUPPORT SERVICES Berendsen 760 +6 Bunzl 1247 -9 Capita 8511/2 -11/2 De La Rue 9171/2 -5 Electrocomp 2283/4 -1/2 Experian 1110 -9 G4S 306 +41/8 Hays 903/8 -1/2 Homeserve 1925/8 +3/4 Menzies J 672 3 Rentokil 94 /8 Smiths News 181 +1 Wolseley £307/8 -1/2 IT HARDWARE ARM Hldgs 869 -31/2 Spirent Comms 1223/8 +3/8 TOBACCO Br Am Tob £35 -1/4 Imperial Tobacco £221/2

TOURIST RATES

LEISURE & HOTELS Bwin.Party Digital Carnival Compass Grp easyJet Enterprise Inns FirstGroup Go-Ahead Gp Greene King Intercontl Htls Intl Cons Airl Ladbrokes Mitchells & Butlers Natl Express Rank Org Stagecoach Group TUI Travel Whitbread

1341/4 £225/8 8161/2 1124 1021/2 2121/2 1529 6691/2 1850 2563/8 1863/8 3181/4 1961/2 1643/8 2975/8 3043/4 £243/8

-13/4 -3/8 -71/2 +15 -1/4 +11/4 +10 +3 -16 +41/8 -15/8 +21/4 -11/4 +51/4 +3/4 +1 -1/8

FTSE 100

INDEX 6280.62

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FTSE 250

INDEX 13591.49

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Tourists going abroad can expect the following rates for sterling: Australia...................... 1.40 dollars Bangladesh................. 111.88 taka Brazil.............................. 2.73 reals Canada....................... 1.49 dollars China ............................. 8.40 yuan Czech Republic ...... 27.68 korunas Denmark....................... 8.26 krone Euro................................ 1.11 euro Hong Kong................ 11.21 dollars Hungary................... 311.09 forints India.......................... 72.58 rupees Japan........................... 144.52 yen Mexico ....................... 16.61 pesos New Zealand .............. 1.68 dollars Norway ......................... 8.44 krone Pakistan.................. 140.91 rupees Philippines ................. 53.61 pesos South Africa................. 13.17 rand South Korea.............. 1483.00 won Sri Lanka ................ 181.43 rupees Sweden......................... 9.48 krona Switzerland.................. 1.35 francs Taiwan ...................... 39.61 dollars Turkey....................... 2.60 new lira USA ............................ 1.45 dollars

KIRKLEES BUSINESS NEWS IT’S never easy getting to the top of your profession. But Adele Whitfield has worked particularly hard to forge a successful career in the law. The Highburton mother of two joined Huddersfield solicitors as a secretary – but progressed through hard work and determination to become first a legal executive and then an associate. Now she is the firm’s newest partner. Adele, who hails from Fenay Bridge, attended King James’ School before taking her A-levels at Greenhead College. While she was keen on a career in the law, she admits that lack of confidence held her back to some extent. She says: “I always wanted to do something in the law, but it was one of those situations where I never felt I would be good enough to be a solicitor. “I took my A-levels and decided to join up with the Institute of Legal Executives. “I did a one-year full-time course at a college in Sheffield. To complete the course, I had to work in a solicitors’ office. “I couldn’t get a job as a trainee legal executive at that time, but my dad knew David Blakeborough, one of the partners at Eaton Smith and I went for a week’s work experience. “When a secretarial position became available, I was offered it.” Adele found herself working for partner Judith Schofield, who decided that Adele would be better assisting her in a fee-earning capacity. Adele qualified as a fellow of the Institute of Legal Executives in 2001. Later, Adele decided to undertake a conversion course to finally realise her ambition by qualifying as a solicitor. “I had two young children by that time, so it was quite hard work,” she says. “I still had my job to do during the day, which meant studying at home in the evenings.” Adele qualified in 2007 and was made an associate in 2009 before being appointed a partner this year. “I found the exams much easier doing the conversion course because I had been in a legal environment for so long,” she says. Adele specialises in personal injury work alongside Judith Schofield and department head Anne Pendlebury. Says Adele: “You imagine doing the exciting things like criminal or family law – something that has a bit of glamour to it! “But I have always been interested in medical matters. Now I’m so glad that I chose personal injury work. It is such a

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Just the job for Adele rewarding aspect of the job to be able to help people. “It is not just about getting people compensation. The most important thing is that you are helping people along the way.” Adele understands public cynicism about some organisations operating in the sphere of personal injury, but says: “For many people, sustaining a serious injury can be life-changing. It is all about helping them get the treatment they need for their injuries and the

interim payments to help them pay their bills. “Some people seem to think PI lawyers are only interested in the money. Unlike a lot of ‘factory firms’ we aim to give a personal service. “People who have been injured ring up the claims companies advertising on television, but they could contact a local firm of solicitors to see someone face-to-face.” Eaton Smith has set up a new personal injury “shop” – YES PI – to provide a more visible presence on the high

■ AMBITIONS: Adele Whitfield, of Eaton Smith, always wanted to pursue a career involving the law

Adele Whitfield

street. “The idea is that people can see we are there,” says Adele, who worked with Anne Pendlebury to set up the premises next door to Eaton Smith’s existing High Street offices. “People can see we are there. They may not need us now, but they might in the future.” Adele is now involved in marketing YES PI, a “sideline” that she enjoys. “It is something completely different,” she says. “I have been involved in areas such as website development. It’s interesting to look at different ways of expanding brand awareness.” Adele’s role as a PI lawyer covers everything from trips and slips to road accidents and workplace incidents. The size of the caseload can reflect wider trends. “A few years ago, when the economy was taking a downturn, there was a bit of a lull in employment claims. People did not want to rock the boat at work because they were frightened of losing their jobs,” says Adele. “However, claims are slowly creeping up again.” Adele takes particular interest in chronic pain cases, saying: “When people have been injured, they don’t always recover and they remain in pain. They never really get better and in those cases, it is all about how to manage the pain. ”We work with rehabilitation providers and others in terms of treatment.”

She says: “We try to think about how the clients feel in their situation and that helps us empathise more with that they are going through.” Adele says Eaton Smith’s reputation has led to it gaining clients as far afield as London and Brighton, saying: “I don’t even see some of our clients. We do business over the telephone. People in London particularly are used to doing everything over the phone and never seeing anyone in a personal capacity. “Of course, we want our local clients to come and see us – or we can go to see them! You get a better feel for how an injury can effect their lives if you can see things for yourself.” Adele, 40, says she enjoys spending time with her children, Harvey, 10, and seven-year-old Olivia. “I work full-time, so we spend quality time together at weekends,” she says. “I enjoy taking them to and from their various activities. I enjoy going to the cinema and I love cooking. I am always trying out new recipes.” She remains grateful for the opportunity that came her way when she took up the offer of a week’s work experience at Eaton Smith. “It’s a fantastic firm to work for,” says Adele. “They have given me so much support and so many opportunities throughout my time here. I couldn’t have asked for anything more. I have been very lucky in that sense.”

HENRYK ZIENTEK

Role: Partner Age: 40 Family: Partner Andrew and children Harvey, 10, and Olivia, seven Car: Toyota Verso Holidays: Family holidays in Cornwall First job: Working as a waitress at the Kaye Arms, Grange Moor Best thing about job: Meeting new people and helping them on the journey from start to finish and seeing them make progress Worst thing about job: Time-consuming administrative procedures that you have to complete before you can get on and do the job! Business tip: Listen to your clients. Hear what they have to say then give them your opinion

Eaton Smith Work: Legal services Site: Huddersfield Phone: 01484 821348 Email: adelewhitfield @yespi.co.uk Web: www.yespi.co.uk

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Call for entries KIRKLEES firms using IT in innovative ways have been urged to enter a national competition. The 2013 BCS and Computing UK IT Industry Awards is open for entries – and this year includes a new category for the most outstanding use of IT in the games, television, film, music or other creative industry. The annual awards showcase and celebrate best practice, innovation and excellence in the IT sector. Entrants can be organisations or individuals involved in IT across the public, not-for-profit and commercial sectors. In total, there are 25 categories focusing on the contribution of individuals, projects, organisations and technologies. Go to www.bcs.org/industryawards

Independent ﬁnancial planning services for companies and individuals Eastwood & Partners (Financial Services) Ltd

Pennine House, Lowfields Close, Lowfields Business Park, Elland HX5 9DA 01422 377737 www.eastwoodfinancial.co.uk Authorised and Regulated by the Financial Services Authority

KIRKLEES BUSIN

Absent friends? IVING and working longer – your L staff are at the heart of your business, offering valuable resources and

expertise. But people today are three times more likely to suffer a long-term absence than die during their working lives, while one in five will develop a long-standing illness before they retire. This makes dealing with long-term illness and injury, and incurring the associated costs, a very real prospect for employers. The true cost of absence is more than you might think. Unplanned absence costs UK businesses up to 16% of payroll. Absence drives risk in your business – it is volatile and could cause legal problems if handled incorrectly. And 19% of employers say managing sickness absence has a considerable effect on other duties. Employees are also often under-prepared in dealing with the financial difficulties that may occur as a result of long-term illness or injury, with most believing that the State or their employer will provide in times of need. However, the truth can be very different. While the State provides a welcome safety net, it only goes so far and usually falls well below the average UK salary. Once company sick pay ends, the average family’s savings will generally last for less than two months. Receiving little or no income for a prolonged period can also have implications on their long-term

FINANCIAL FOCUS Karen Wynard

wealth. Individuals, for example, may be unable to contribute sufficiently towards their retirement, therefore the impact of being unable to work due to injury or illness during the course of their working life may be felt later in life. Group Income Protection is one solution to the potential problems faced by both employers and employees arising from long-term absence. This not only provides a valuable financial lifeline for your staff if they are unable to work, but can also help to protect your business from the financial impact and uncertainty of prolonged staff absence as follows – by enabling you to monitor the cost of absence in your business, by enabling you to assess the return on your benefits spend and as this is a visible and valuable employee benefit, it can help you to recruit and retain staff. Due to the inclusion of return to work

planning, absence management support and other assistance tools within the policies offered by many leading providers, these can help reduce the time you need to spend in addressing long-term absence and leave you free to focus on running your business. Each provider appreciates there is no “one size fits all” solution to absence management, therefore a Group Income Protection Scheme can be tailored to meet your specific needs. This ensures that you rather than the insurer determine the level of benefits payable, the period of time the employee needs to be absent before any benefit is payable and how long you wish for the benefit to be payable. We will be holding a seminar on Thursday, May 16, at our Elland office where we plan to address the issues raised in this article in further detail. Contact theresa@eastwoodfinancial.co.uk.

Karen Wynard is head of corporate services at Eastwood & Partners (Financial Services) Ltd

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NE of the main issues surrounding O the sale of a business is the amount of Capital Gains Tax payable on its dis-

posal. Generally, gains are subject to CGT at 18% or 28% depending on whether the individual is a basic or higher rate taxpayer. But for qualifying gains, Entrepreneurs’ Relief is available which taxes these gains at a lower rate of 10%. For disposals made on or after April 6, 2011, this rate is applicable to gains up to a total of £10m. Qualifying gains include the disposal of the whole or part of a business carried on by an individual or partnership member or shares in an unquoted trading company. In the vast majority of cases, most saleable businesses are carried on via a limited company and Entrepreneurs’ Relief will be available on the sale of the shares in an individual’s personal company, if throughout a period of 12 months prior to the disposal the company carried on a qualifying trade and the individual owned at least 5% of the ordinary share capital and voting rights and they were an officer or employee of the company. Problems can arise where, for instance, the exercise of share options dilutes a shareholding below the 5% limit. Where practical, action needs to be taken for those directors/employees affected to ensure that they have this minimum shareholding 12 months before disposal. In the case of husband and wife shareholders this could be achieved by transferring ordinary shares to the minority shareholding

spouse giving them the required 5%. Such inter-spouse transfers are exempt from CGT. For shareholders letting property to their personal trading company or a partner to a trading partnership, Entrepreneurs’ Relief is restricted to the extent that any rent is paid. This restriction applies for those in receipt of rent on or after April 6, 2008. Consideration needs to be given as to whether rents should cease in order to secure some measure of Entrepreneurs’ Relief against the individual’s need for rental income to pay interest on any mortgage taken out to buy the property. The entitlement to Entrepreneurs’ Relief could also be jeopardised if a trading company holds substantial investment assets or undertakes substantial non business activities. Consideration and timely planning needs to be given to demerging non-business assets/activities in order to protect the company’s status as a trading company. If Entrepreneurs’ Relief is not secured and gains on the disposal of the shares are taxed at rates applying to non-business assets the potential loss of tax could be as high as £1.8m (£10,000,000 x 28-10%), possibly rising to £3.6m for husband and wife shareholders. The current rate of Entrepreneurs’ Relief remains valuable in mitigating a business owner’s CGT liability and proactive steps may need to be taken at least 12 months before the business is sold to secure the relief.

Colin Barratt is tax partner at Wheawill and Sudworth chartered accountants, Huddersfield

NESS NEWS

property

Page 5

Celebrating 25 successful years A PROPERTY development and rental company is celebrating 25 years in business – and Towndoor Ltd, based at Meltham Mills, is looking forward to the next quarter century with confidence after helping scores of firms to flourish over the years. The firm, which is marking its anniversary by flying special flags near its headquarters building, provides commercial and industrial workspace for a wide variety of businesses. It has a property portfolio comprising more than 40 acres of land and more than 80 office, warehouse and workshop units together providing in excess of 1m sq ft of floorspace. The privately-owned and family-run firm was founded in 1988 by Stuart and Lucy Bamforth – after the Bamforth group’s dismantling division was engaged to remove the former David Brown Tractors assembly plant at Meltham Mills for then owner J I Case Ltd. Half of the factory was sold to Bamforth in the name of Towndoor Ltd – and within four years the whole of this huge site had been developed into an industrial estate fully occupied by 38 individual companies together providing 400-plus jobs. A second site was bought at Netherton from Allied Breweries to be known as Crosland Road Industrial Estate. It was quickly renovated and fully let to nine companies. A third site was acquired in 1993, again owned by Case and known as S Block.

■ FLYING COLOURS: Dan Bamforth and Nick Charlton, of Towndoor Ltd

In March, 1999, Towndoor bought an area of land formerly used for storage and as a scrap yard. Towndoor developed the site – to be known as Bent Ley Industrial Estate – to provide four new build units, which were completed in 2008 and fully let. Towndoor operations director Dan Bamforth said the key to success had been Towndoor’s efforts to work in partnership with businesses and provide a range of properties to suit all requirements – from large industrial units to small lock-ups, garages, yards and office suites. In line with the family’s plans to expand the business, Towndoor is due to take ownership of a fifth multi-let site near Leeds city centre

Modern Industrial Complex

BROOKFOOT MILL, ELLAND ROAD, BRIGHOUSE, HD6 2RW Rents on application

4 RANGE LANE Halifax, HX3 6DL FORMER HOSTEL PREMISES

395m2 (4,250ft2) Site Area 0.13 Hectares (0.33 Acres) ■ Vacant possession ■ Suitable for refurbishment for alternative occupational residential uses or possible complete redevelopment, subject to planning consent

● Warehouse 89,191sqft

4 RANGE LANE Halifax, HX3 6DL 9,217sqft ● Showroom FORMER HOSTEL PREMISES 2) accommodation ● Office 395m2 (4,250ft

Site Area 0.13 Hectares (0.33 Acres) ■ Vacant32,790sqft possession ■ Suitable for refurbishment for alternative occupational residential ● Available to let in sections uses or possible complete redevelopment, subject to ● consent EPC Ratings: C & E planning

Shop/Offices

4 RANGE LANE Halifax, HX3 6DL FORMER HOSTEL PREMISES

LORD STREET, HUDDERSFIELD, HD1 1QA £22,000 p/a ● 123.93sqm (1,334sqft)

4 RANGE LANE ● Extensive Halifax, HX3 6DLfrontage FORMER HOSTEL PREMISES ● Level access

395m2 (4,250ft2) Site Area Hectares (0.33 Acres) ● 0.13 Landmark building ■ Vacant possession ■ Suitable for refurbishment ● Newly refurbished for alternative occupational residential Could complete sub-divide uses or ● possible redevelopment, subject to ● consent EPC Rating F planning

Commercial Building

VICTORIA STREET, HOLMFIRTH, HD9 7DF £265,000 / May Let

4 RANGE LANE Halifax, HX3 6DL FORMER HOSTEL PREMISES

● 267.74 sqm (2882 sqft)

4 RANGE LANE ● Currently a Restaurant with Halifax, HX3 6DL FORMERLiving HOSTEL PREMISES Accommodation 395m2 (4,250ft2) Site Area Hectares (0.33 Acres) ● 0.13 Prominent position ■ Vacant possession ■ Suitable for refurbishment for ● Freehold with vacant alternative occupational residential uses or possible complete possession redevelopment, subject to ● consent EPC Asset Rating D planning

within the next few weeks, which will push the total number of units nearer 90. New tenants to add to the company’s already diverse range of clients include Cartridge Express, a flooring company and a cafe. The company has added to its client list in recent months. Online footwear retailer Shoeshoebedo Ltd is taking an 18,032sq ft property at Towndoor’s flagship Meltham Mills site on a six-year lease from next month. In addition, Taylor Computer Solutions Ltd has leased a 1,300 sq ft unit at Meltham Mills – reflecting a rise in demand for smaller units. Matthew Taylor, of Taylor Computer Solutions, said: “I am a new ‘resident’ at Meltham Mills and I have nothing but praise for Dan and his team. I was very impressed with Towndoor’s efficiency and the speed in which they progressed my new tenancy.” Recent developments at Towndoor include the appointment of Nick Charlton – who has a 20-year association with the company and the Bamforth family – to a property and architectural services role. Towndoor has also started work on two luxury apartments and a rooftop garden at a redundant office and former mill at the Crosland Road site. The proposed development, which follows a change in planning laws and a fall in demand for semi-rural office space, includes a 3,000 sq ft Astroturf rooftop terrace which will command spectacular views across

Magdale. Said Dan: “We are planning quite a few exciting things for the next 12 to 24 months.”

FOR SALE

Bridge Tavern

Holmbridge, Holmfirth 1 3 storey public house of 4,220 sq ft 1 Car park and land of 1.36 Acres 1 Suitable for conversion/development (STP)

Prominent Retail Shop

WESTBOURNE ROAD, HUDDERSFIELD, HD1 4LF £13,500 p/a

4 RANGE LANE Halifax, HX3 6DL FORMER HOSTEL PREMISES

● 82.68sqm (890sqft)

4 RANGE LANE suburban location ● Popular Halifax, HX3 6DL FORMER HOSTEL PREMISES ● Excellent display frontage

395m2 (4,250ft2) ● 0.13 Prominent corner position Site Area Hectares (0.33 Acres) ■ Vacant possession ● Suitable for a variety for of retail for refurbishment ■ Suitable alternative occupational residential uses complete uses or possible redevelopment, subject to ● consent EPC Rating: C planning

Industrial Unit

4 RANGE LANE Halifax, HX3 6DL FORMER HOSTEL PREMISES

LUCK LANE, HUDDERSFIELD, HD1 4QT REDUCED RENT £14,000 p/a

● 274.78 sqm (2,957 sqft)

4 RANGE LANE Halifax, HX3 headroom 6DL ● Good FORMER HOSTEL PREMISES 2) 395m2 (4,250ft ● 2 x inspection pits

Site Area 0.13 Hectares (0.33 Acres) ■ Vacant possession ● Loading doors ■ Suitable for refurbishment for alternative occupational residential ● Off road car parking available uses or possible complete redevelopment, subject to ● consent EPC Rating :D planning

Commercial Building

4 RANGE LANE Halifax, HX3 6DL FORMER HOSTEL PREMISES

■ industrial LAND

■ offices OFFICES

■ retail

INDUSTRIAL

■ investment

INVESTMENT

■ land MARKET STREET, HUDDERSFIELD, HD3 4HZ £80,000

● 56.67sqm (610sqft)

4 RANGE LANE Halifax, HX3 6DL ● Village centre position FORMER HOSTEL PREMISES 2) 395m2 (4,250ft ● Extensive upper floors

Site Area 0.13 Hectares (0.33 Acres) ■ Vacant possession ● Could convert flat over, ■ Suitable for refurbishment for alternative occupational residential subjectcomplete to planning consents uses or possible redevelopment, subject to ● consent EPC Rating F planning

T. 01484 530361 www.bramleys.com

RETAIL

Thinking of expanding? See how we measure up. One of the Northâ&#x20AC;&#x2122;s leading privately owned commercial and industrial property providers. A family business you can trust. Exceptional portfolio across 4 estates, Towndoor has over 80 units to let ranging from 400 to 40,500 sq.ft. Warehouses, lock-ups, trade counters, luxury ofďŹ ces and storage space. Flexible deals offered. Our tailored no fuss approach means we can offer you the perfect property deal.

Talk to our team and register your interest today: Tel: 01484 850015 Email: enquiries@towndoor.co.uk Website: www.towndoor.co.uk

Established 1988 We are proud to celebrate 25 years in acquiring, developing and letting commercial and industrial property in strategic locations throughout West Yorkshire.

P Block - 9,200 sq.ft. standalone unit Meltham Mills, Holmﬁrth HD9 4DS • Gated plot with private yard and parking • 3 phase electricity supply • Electric loading door • Immaculate inside

Unit O3 - 15,231 sq.ft. S Meltham Mills, Holmﬁrth HD9 4DS • 3 phase electricity supply • Electric loading door • Sprinkler system throughout • 3.75m to underside of eaves

• Modern ofﬁces

• Inclusive of onsite CCTV and automated gates

• Flexible deals offered £3.00 per sq.ft

• Flexible deals offered from just £1.00 per sq.ft

Unit N5 - 10,322 sq.ft. Meltham Mills,Holmﬁrth HD9 4DS • Single Span unit • 3 phase electricity supply • Electric loading door • Mezzanine ﬂoor

Unit J2 - 2,938 sq.ft. Meltham Mills, Holmﬁrth HD9 4DS • Inexpensive storage or workshop space • 3 phase electricity supply • Electric loading door

• Inclusive of onsite CCTV

• Inclusive of onsite CCTV and automated gates

• Flexible deals offered £2.50 per sq.ft

• Flexible deals offered £2.00 per sq.ft

Talk to our team and register your interest today: Tel: 01484 850015 Email: enquiries@towndoor.co.uk Website: www.towndoor.co.uk

From just £1.00 per sq.ft

KIRKLEES BUSINESS NEWS Nigel Mochrie

Barclays BARCLAYS has appointed Nigel Mochrie as the new area business manager for West Yorkshire covering the SME sector. His regional responsibilities take in Huddersfield, Dewsbury, Brighouse, Wakefield, Halifax and Pontefract. Mr Mochrie (pictured) has a wealth of experience in corporate and SME markets across Yorkshire. Previous roles include responsibility for business customers across North Yorkshire as a senior partner for Yorkshire Bank. He said: “I am really looking forward to consistently putting customers and clients’ interests at the heart of everything that we do – striving to improve the service that we provide and making responsible decisions in how we manage our business. “This will involve playing an even broader role in the communities in which we live and work through community investment and the direct efforts of our colleagues.”

Firms keep the cyclists going CYCLISTS raising cash for good causes will be kept fed and watered thanks to two Huddersfield companies. Dalton-based catering supplier Total Foodservice has donated 900 flapjacks to keep fundraisers fuelled during the 240-mile Pedal for Pounds bike ride. And bottled water firm Shepley Spring will keep the riders hydrated by donating bottles of its Ice Valley water. Some 290 cyclists will take part in the Pink Link P4P4 Tour of Yorkshire, stopping off in Hull, Scarborough and Harrogate, to raise money for the Yorkshire Air Ambulance and Huddersfield Town’s academy. The flapjacks have been produced by Leeds-based Exquisite Handmade Cakes and jointly donated in conjunction with Total Foodservice. P4P4 is the fourth instalment of Town’s annual bike rides and will raise funds for the lifesaving Yorkshire Air Ambulance charity and the Huddersfield Town Academy. The ride starts on Wednesday, May 1, in Huddersfield with cyclists riding to Hull, Scarborough, Harrogate and back to Huddersfield in time for the club’s last home League fixture against Barnsley on Saturday, May 4.

Movers and shakers

Opticians group catches the eye A HUDDERSFIELD-based opticians group has won national honours. The Valli Group has been named winner of the Business Excellence category in the Optician Awards 2013. The group, which has six optical practices across Huddersfield and Calderdale, overcame strong competition to win the award, which was presented at a ceremony in Birmingham. Managing director Moin Valli said: “We are absolutely delighted to win the award. Our fantastic team really deserves it and this award is recognition of their hard work. “Our goal is to position the Valli Group as the leading independent opticians across West Yorkshire and eventually beyond, offering professional eye care and outstanding service in our local communities. “We’re working hard to achieve this through the acquisition of further practices, growth of current practices, business development, extensive financial investment in our staff development and training. “We were shortlisted along with some other fantastic optician businesses so I’m very humbled to win and honoured to be recognised by industry peers.” The success comes just five months after Moin was named Young Business Person of the Year in the Examiner Business Awards. Moin, 35, and his wife Rachel, founded the Valli Group in 2005. it now has six

■ WINNERS: Moin and Rachel Valli, of The Valli Group Opticians, and their award

independent optical practices with a team of 25 staff. It also has a domiciliary business, which provides eye care to elderly and disabled patients unable to visit their local practice and a corporate eye care business

to look after corporate clients. The Valli Group has invested heavily in technology, optical equipment and refurbishment spending almost £400,000 in the last six years.

Dedicated to the export drive EXPORTERS in Kirklees have been urged to join a new body dedicated to boosting their success in overseas markets. The We Are International Export Network brings together successful exporters from a wide range of sectors. It is part of the We Are International campaign, an initiative set up by the Local Enterprise Partnership, government export support arm UKTI and Chamber International to provide a £2.6m boost to the economy of the Leeds City Region –

which includes Kirklees – by providing more support for companies to do business overseas. Boosting export rates is a key element of the Leeds City Region “City Deal” agreed with government last year. The Deal sets an ambitious target of eliminating the City Region’s £1bn trade deficit and achieving a growing surplus of £1.6bn by 2018. Leeds City Region chairman Neil McLean said: “What’s unique about the We

are International campaign is that it’s primarily about connecting new or aspiring exporters with companies that have been there and done it already.” He said: “We have some fantastic export success stories in this City Region and I hope that as many companies as possible will take advantage of the Export Network to learn about the practicalities of entering new markets, and develop new business connections.” Go to www.weareinternational.co.uk.

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A HUDDERSFIELD businessman has been shortlisted for a coveted award. John Andrew, founder and chairman of golf retailer Direct Golf UK, is one of 11 business people from across Yorkshire to become a finalist in Ernst & Young’s Entrepreneur Of The Year awards programme 2013. They will compete with 32 others from across the North of England at a regional awards event on June 25 in Manchester. From there, regional winners will vie for the title, Ernst & Young UK Overall Entrepreneur Of The Year 2013 and a chance to represent their

country at a global awards ceremony in Monte Carlo next year. Mr Andrew, a qualified PGA professional, set up Direct Golf UK in 1991 and 22 years on retains full ownership of the business. In that time, he has taken the Leeds Road-based firm from one store in Huddersfield to 21 stores across the UK with more than 300 staff and a 75,000sq ft warehouse. Since 2010, Direct Golf UK has added nine new retail outlets. During that time, it has posted consecutive year-on-year growth and lifted turnover by more than 70%.

■ IN THE SWING: John Andrew, Direct Golf UK