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CHRIS JOWETT Life on the home front
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COLIN BARRATT Budget box surprises Column - Page 4
An EXAMINER publication
KIRKLEES BUSINESS NEWS The business NEWSpaper for Kirklees
University praised for precision work HUDDERSFIELD University has been praised for its work with industry. The plaudits came at an event attended by 250 Yorkshire business leaders and academics aimed at making it easier for companies to use the expertise and resources of the region’s universities. Huddersfield University’s 12-year association with precision technology firm Taylor Hobson was highlighted at the event in Leeds, which was hosted by Rosie Winterton, regional minister for Yorkshire. Leicester-based Taylor Hobson has worked with academics at the university as part of efforts to maintain its position as a global leader in precision technology. Benefits of the partnership have included the development of 3D software for viewing microscopic surfaces and sponsorship of the Taylor Hobson Chair of Surface Metrology. The university facilities have also provided the firm with as test bed for new ideas as well as a source of potential skilled
employees. Ms Winterton said: “I was delighted to meet so many academics and business leaders who are working together on innovative and profitable projects and I am sure their success will inspire others.” Twelve of the minister’s specially recruited Business Ambassadors – selected to help other businesses learn from their experience – also attended the event, which was entitled The Business of Research: Yorkshire Universities solving business problems. The minister also launched a new report which outlines the crucial role of the region’s universities in encouraging economic growth. The report – The Role of Yorkshire’s Universities in driving the region’s economy – was commissioned by Lord Mandelson, the Secretary of State for Trade and Industry as part of ■ BACKING: Rosie Winterton with Huddersfield University’s Prof Paul Scott the government’s Going for Growth Yorkshire and the Humber, in collab- celebrates the strong track record of Initiative. It was researched and compiled by oration with regional development partnership between our universities and businesses supported by YorkYorkshire Universities, the association agency Yorkshire Forward. Said Ms Winterton: “The report shire Forward.” for the higher education sector in
Colne Valley firm targets overseas markets A COMPANY providing fuel-saving devices and flood detection equipment is forecasting a boost for its export sales. Marsden-based Andel Ltd is confident of landing new contracts after impressing potential clients at a special international Meet the Buyer event in Harrogate. The one-day Going Global event
was organised by regional development agency Yorkshire Forward and government export support arm UK Trade & Investment to put companies in contact with potential clients across a wide range of industry sectors. Award-winning Andel was among scores of Yorkshire firms involved. Managing director Ian Pogson said: “It is inconceivable that we could have
committed to the expense of a sales mission to Asia or South America in these times, so an initiative such as Going Global has made a real difference to Andel. “From being rather sceptical as to how Yorkshire Fo rward could bring serious buyers from around the world to our doorstep, I am really pleased to report that we made
four good, new contacts and I really expect to be doing business with two of them quite soon.” Almost 1,000 individual meetings were held between buyers and potential suppliers at Going Global. And all the international buyers – including Ford of Europe, Wal-Mart and Siemens Wind Power – said they would attend the event again.
INSIDE Charitable exercise HUMAN resources consultant Julie Sykes is undertaking an exhausting charity challenge. For Julie, who runs Shepley-based JCS HR, is two-thirds of the way through a major fundraising effort which sees her competing in two half-marathons and a gruelling coast-to-coast bike ride in a matter of just a few weeks.
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Change of owner A MAJOR retail park has changed hands in a £56m-plus deal. Junction 27 alongside the M62 at Birstall has been bought by the UK Commercial Property Trust from Henderson Global Investors for £56.63m.
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Branson hits out over BA proposals AIRLINE tycoon Sir Richard Branson accused Europe’s competition authorities of being “lazy” and “misguided” as he stepped up opposition to a planned alliance between British Airways and American Airlines. The Virgin Atlantic boss said the proposed venture – which would be in association with Spanish carrier Iberia as part of merger plans – should be blocked by Brussels. Sir Richard said he would consider some form of “legal process” if the European Commission rules against him. He said: “The way the commission is currently going about it is fundamentally flawed and misguided and – to be honest – it’s rather a lazy approach.” He added that the transatlantic joint
venture should be treated as a merger like the tie-up between BA and Iberia, which was formally agreed last week. The deal between the UK and Spanish carriers will create one of the world’s largest airline groups with 408 aircraft carrying more than 58m passengers a year. BA believes the three-way agreement will benefit consumers by improving connections and flight schedules, although Sir Richard has criticised the link-up as “bad for passengers, bad for competition and bad for the UK and US aviation industry”. Newspaper reports said legal restrictions such as the 25% foreign ownership limits on US carriers would probably rule out a formal tie-up between BA and AA.
It said the transatlantic deal between the three carriers would avoid such restrictions by sharing revenues on routes and jointly managing schedules, capacity and pricing, but no stakes in the businesses would be exchanged. The fact that there is no change to the ownership structure means the three-way deal is also not subject to the same European Commission regulatory approval as the BA-Iberia merger. BA’s tie-up with Iberia has also garnered its share of hostility from rivals. Virgin Atlantic said the deal would increase BA’s dominance at Heathrow Airport, while low-fare carrier Ryanair has likened the merger to “two drunks trying to prop each other up”.
Boost for retailer
■ ATTACK: Sir Richard Branson criticised the Commission as ‘lazy’
Pollster predicts bigger profits
Firms wary about future
POLLING firm YouGov posted a 42% fall in half-year profits – but predicted an upturn in performance from the UK general election. YouGov said the decline in pre-tax profits to £1.4m in the six months to January 31 came as good performances in the UK, Germany and US were offset by declines in the Middle East and under-performance in Scandinavia. The firm, which is set to provide daily polling as the general elections nears, said it now expected to benefit from new technology and forecast a stronger second half. YouGov said its first half results were in line with hopes in a challenging market.
BUSINESSES remain “wary” about the economic outlook despite increased levels of optimism for their own prospects, a survey said today. A poll of 200 companies by Lloyds TSB Corporate Markets showed that just over half expected their business activity to increase in the coming year – with only one in 20 predicting a slowdown. But fewer than three out of five firms were more optimistic about the economy than they were at the start of the year. Bigger firms were the least optimistic about their own prospects as well as the general economic outlook.
YouGov said it had increased operating profits in the UK by 51% to £1.2m in the first half and boosted margins as it reaped the rewards of an earlier restructuring. It reported “significant” new projects with a range of clients including Pfizer, Innocent Foods and Unilever. In its other global businesses, YouGov said margin improvements in Germany are expected to be maintained, while in the US it plans to grow its commercial research division. Business in the Middle East is set to grow in the second half after first-half revenues were hit.
Trevor Williams, chief economist at Lloyds TSB Corporate Markets, said: “It’s clear now that businesses really are becoming more optimistic about their prospects for the year ahead. “Although many firms are still cautious about the broader outlook for the economy, confidence levels are still above average.” He added: “Businesses’ confidence is a good barometer of what lies in store for the economy. “Given that optimism does seem to be returning, we can expect the recovery to continue throughout the first half of the year at least.”
SHARES in Argos owner Home Retail Group soared yesterday amid speculation of a potential bid from supermarket chain Asda. Home Retail, which also owns Homebase, rose by 5% or 6.67p to 294.2p after it was identified as a possible target in Asda’s expansion plans. The Leeds-based supermarket, which is owned by US food giant Wal-Mart and has a store at Brackenhall in Huddersfield, is reportedly weighing a large acquisition as it looks to close the gap between rival Tesco and boost its share of the general merchandise market. Asda is understood to have considered a number of other firms both on the high street and in out-of-town shopping parks, including Home Retail and budget clothing chain New Look. The firm said it would not comment on speculation. Asda has also launched the search for a new chief executive after announcing today that Andy Bond is to move to a part-time role as chairman. The group – the UK’s second biggest grocery chain – said it hoped to hire a new boss soon, but added that Mr Bond would remain as chief executive until a successor is appointed. Mr Bond has led Asda for the past five years and has had a 16-year career with the company.
SHARE PRICES NORTH AMERICAN American Express £28.60 +0.08 Gannett 1158.50 +1.95 Hess Corp £42.21 +0.12 Microsoft 1970.48 -1.95 Motors Liquidation 48.76 Wal-Mart Stores £35.54 -0.26 AEROSPACE & DEFENCE Avon Rbbr 85 BAE Systems 3703/4 +21/8 Rolls-Royce Gp 612 -4 1 VT Group 761 /2 +2 AIM Brady Plc 69 +1 Dawson Intl 21/4 AUTOMOBILES & PARTS GKN 1391/4 -17/8 BANKS Barclays 3645/8 +81/8 HSBC 6943/8 +33/4 Lloyds Banking Gp 641/2 +1/2 7 Ryl Scotland 44 /8 +1/4 Stan Chart 1772 -8 BEVERAGES Diageo 1140 SABMiller 1938 -19 CHEMICALS Croda 9921/2 +41/2 Elementis 98 563/4 -43/4 Johnsn Mat 1756 -17 CONSTRUCTION & MATERIALS Balfour Beatty 303 +23/8 Costain 241/2 -1/2 ELECTRICITY Drax Grp 3863/8 +13/4 Intl Power 3333/4 +27/8
Scottish & Sthrn 1119 Energy ELECTRONIC & ELECTRICAL EQUIPMENT Chloride 211 -51/4 Laird 1231/2 -1/4 EQUITY INVESTMENT INSTRUMENTS Alliance Trust 3491/4 +1/4 FIXED LINE TELECOM SERVICES BT Grp 1231/8 -1/4 Cable & Wireless 613/4 +1/2 Comm Cable & Wireless 93 +1/2 Wwide 1 Colt Telecom 130 /2 +1/2 KCOM 463/4 -1/4 Talktalk Telecom 1447/8 +3/8 FOOD & DRUG RETAILERS Morrison W 296 +7/8 Sainsbury 3465/8 +81/4 Tesco 4423/4 +21/2 FOOD PRODUCERS AB Food 9831/2 -21/2 Nth Foods 611/2 -1/4 3 Tate Lyle 465 /4 +23/4 Unilever 1961 +4 +3/4 Uniq 251/4 GAS, WATER & MULTIUTILITIES Centrica 3023/4 +1/2 National Grid 6561/2 -1/2 Pennon Grp 5391/2 +1/2 Severn 1233 +7 -1/2 United Utils 5701/2 GENERAL FINANCIAL 3i Group 290 -31/8 ICAP 3947/8 +35/8 1 London StockExch 756 /2 +9 +7/8 Man Group 2651/8
Provident Financial 895 +27 Schroders 1436 Schroders NV 1148 -5 GENERAL INDUSTRIALS Cooksn Grp 5921/2 -8 REXAM 3003/8 -3/4 Smiths Grp 1143 -12 GENERAL RETAILERS Ashley L 15 Carphone Whse 191 +71/4 DSG International 341/2 +3/8 1 Home Retail 294 /4 +133/4 1 Inchcape 31 /2 +1/4 Kingfisher 2321/2 +21/8 M&S 3753/4 +55/8 Mothercare 582 -8 Next £23 +3/8 WH Smith 4941/4 +33/4 HEALTH CARE EQUIPMENT & SERVICES Smith Nph 678 -2 HOUSEHOLD GOODS Aga Rangemaster 1083/4 +23/4 Barrat Dev 1243/4 -3/8 3 Persimmon 463 /4 -23/4 Reckitt Benckiser £357/8 Taylor Wimpey 387/8 +1/8 INDUSTRIAL ENGINEERING Charter 771 +21/2 Delta 1841/4 +1/2 1 IMI 668 /2 -3 1 Man Brnze 78 /4 INDUSTRIAL METALS Ferrexpo 358 -111/4 INDUSTRIAL TRANSPORTATION BBA Aviation 2051/8 +17/8 Forth Ports 1391 -25 LIFE INSURANCE
3891/4 911/4 1223/8 573 81 2043/4 MEDIA BSkyB 6121/2 Chrysalis 1041/2 D Mail Tst 5151/2 ITV 637/8 Johnston Press 321/2 Pearson 998 Reed Elsevier 526 STV Group 70 Trinity Mirror 1555/8 Utd Business 5531/2 UTV 1283/4 WPP 688 Yell Group 493/8 MINING Anglo American £291/2 Antofagasta 1045 BHP Billiton £223/4 Eurasian Natural 1221 Res Fresnillo 867 Kazakhmys 1577 Lonmin £211/8 Rio Tinto £393/8 VEDANTA £291/8 RESOURCES Xstrata 1282 MOBILE TELECOM SERVICES Inmarsat 7541/2 Vodafone Group 149 NONLIFE INSURANCE Admiral Grp 1342 RSA Insurance Gp 129 Aviva Lgl & Gen Old Mutual Prudential Resolution Standard Life
+11/4 +3/4 -1/2 -13/4 -1/8 +4 +1/4 +1/2 +1/8 +1/2 +1 +2 -13/8 +31/2 +13/4 -21/2 +27/8 -3/8 -17 -1/8 -17 -17 -14 -1/8 -17 -51/2 -1/8 -1
Local shares Carclo Chapelthorpe Marshalls National Grid Rensburg Sheppards Weir Gp
140 181/2 98 6561/2 874
-11/4 -1/2 -1
963
FTSE closed at
5777.6 Up 6.6 OIL & GAS PRODUCERS BG 1179 +81/2 BP 6411/8 3 Cairn Energy 425 /4 -4 Norsk Hdro 5111/8 Royal Dutch Shell A 19731/2 +81/2 Royal Dutch Shell B 1898 +11 Total £387/8 -3/8 Tullow Oil 1321 -1 OIL EQUIPMENT & SERVICES AMEC 833 -41/2 Petrofac 1221 -12 7 Wood Group 381 /8 -41/8 PERSONAL GOODS Burberry 699 +11/2 PHARMACEUTICALS & BIOTECHNOLOGY Astrazeneca £293/8 +1/8 Axis-Shield 3971/2 -4
GlaxoSmithK XD Shire 1443 REAL ESTATE Brit Land 481 DTZ Hldgs 791/2 Hamrsn 3943/8 Land Secs 678 SEGRO 3197/8 SOFTWARE ETC SERVICES Autonomy Corp 1840 Dimension Data 911/4 Invensys 3377/8 Logica 1371/8 Misys 2601/8 Sage Group 257 SUPPORT SERVICES Bunzl 758 Capita 7991/2 Davis Service 4331/8 Group De La Rue 926 Electrocomp 237 Experian 631 G4S 2673/8 Hays 114 Homeserve 1806 Menzies J 3571/4 Rentokil 1361/8 Smiths News 113 Wolseley 1560 IT HARDWARE ARM Hldgs 2343/4 Psion 82 Spirent Comms 1243/8 TOBACCO Br Am Tob £225/8 Imperial Tobacco £201/8 LEISURE & HOTELS
1 /2 -6
-4 +1/2 -47/8 -3 -23/8 -16 +1 -23/8 +1/2 +93/4 +63/4 +41/2 +31/2 -13/4 +9
Arriva Brit Airways Carnival Compass Grp easyJet Enterprise Inns FirstGroup Go-Ahead Greene King Intercontl Htls Ladbrokes Mitchells & Butlers Natl Express PartyGaming Rank Org Stagecoach Group TUI Travel Whitbread
722 2423/4 £261/2 5351/2 4753/8 129 3651/4 1401 460 1062 1621/4 3213/4 2361/4 3185/8 1171/4 1883/8 3037/8 1526
-8 -51/4 -41/2 +3/8 +43/4 -11/4 -4 +23/8 +3 +3/4 +43/4 +33/4 +3/4 -1/4 +21/2 +7/8 +8
FTSE 100
INDEX 5777.65
+6.67
FTSE 250
INDEX 10481.77
+18.49
-5 1
-1 /2 +12 +81/4 -1/8 -21/2 -1 -91/4 -1/2 -5/8 +1/4 +1/8
TOURIST RATES Tourists going abroad can expect the following rates for sterling: Australia...................... 1.57 dollars Bangladesh................. 100.66 taka Brazil.............................. 2.43 reals Canada....................... 1.48 dollars China ............................. 9.40 yuan Czech Republic ...... 26.20 korunas Denmark....................... 8.01 krone Euro............................... 1.08 euro Hong Kong................ 11.34 dollars Hungary................... 269.90 forints India.......................... 60.21 rupees Japan........................... 136.90 yen Mexico ....................... 16.74 pesos New Zealand .............. 2.01 dollars Norway ......................... 8.66 krone Pakistan.................. 122.12 rupees Philippines ................. 59.06 pesos South Africa................. 10.39 rand South Korea.............. 1496.00 won Sri Lanka ................ 165.47 rupees Sweden....................... 10.54 krona Switzerland.................. 1.56 francs Taiwan ...................... 42.43 dollars Turkey....................... 2.16 new lira USA ............................ 1.47 dollars
KIRKLEES BUSINESS NEWS ESTATE agent Chris Jowett is cautiously optimistic about the prospects for the local housing market. But Chris, who heads Jowett Chartered Surveyors in Huddersfield, says mortgage availability continues to hold back “latent demand” for potential buyers. “Viewings in the past two or three weeks have gone up considerably compared to where they were in January and February,” he says. “That has led to more sales – although we would like to see an improvement in the strike rate of viewings turning into sales. “But it is still difficult for first-time buyers unless they get financial help from their parents. One or two lenders are offering 95% mortgages, but most lenderes are seeking 20 or 30% deposits.” Chris set up his business almost a year ago – with the country in the grip of recession. But having weathered the storm, he is hoping to reap the rewards of the recovery to come. “The market is slightly better than it was 12 months ago when we first opened,” he says. “There is a lot of latent demand from people who have been wanting to move for three or four years, but who have not felt confident about putting their toe in the water and putting their property up for sale.” Chris has no doubt that some would-be house sellers have also been deterred by the hundreds of pounds they have to pay for Home Information Packs as well as worries about their jobs. Scrapping HIPs would provide a boost for the market, he says, but adds: “I think the market has bottomed out now. I don’t think prices have risen in the past 12 months, but they have stopped falling. “At the time of the recession in the early 1990s, we had a period of stability for three or four years before we noticed any real increases in house prices. That could happen again.” Chris has been a familiar figure in the local property market for many years. Before launching his own business, Chris ran the town centre branch of estate agency Brearley-Greens for almost 20 years – and is based in the same Market Street premises. During that first year, Chris was joined by sons Gareth and Rhys, who had both worked in the industry for more than three years in between graduate studies. While they have moved on to pursue further studies, Chris is joined by Luke Whittaker, a graduate in estate management from Shefield Hallam University, who is now training to become a chartered surveyor – in keeping with the professional ethos of the firm. Launching his own business, which covers
profile
Home truths from Chris areas including valuations, letting, new developments and residential sales, was the realisation of a long-held ambition for Chris, who started out on his career in 1978 by gaining a degree in estate management at Portsmouth Polytechnic. But he admits: “I wanted to be a professional footballer, rugby player or cricketer when I was young, but at the age of 16 I knew I would not be good enough. So, it was a question of what I did next. “My father had been involved in the building trade working for Bovis. There was a property connection there and it seemed a good idea to go to Portsmouth Polytechnic and study for the degree.” Chris, who had attended Whitcliffe Mount Grammar School, took up his first post as a graduate valuer in the Calderdale District Valuer’s Office in Halifax before he moved into private practice after qualifying as a chartered surveyor in 1981. He recalls: “I rented a cottage in Scholes and the rent was £6 a month. That was in the late 1970s. My father couldn’t believe it –
■ HOME WIN: Chris Jowett is glad to have made his move
and I suppose that was my first and best property deal!” Chris joined the Halifax branch of Eddisons as assistant valuer. He stayed there for three years before being promoted in 1984 to run Eddisons’ Brighouse office dealing with residential sales, building society and bank valuations, as well as new build for developers. Within three years, he became an associate in Eddisons and was promoted again to work in the Huddersfield office alongside senior residential partner Douglas Hoyle. Following Mr Hoyle’s retirement in 1987, Chris took on the role of joint manager with Raymond Butterworth. Following Eddisons’ acquisition by the Leeds Permanent Building Society in the late 1980s, Chris was offered the chance to become a partner in Brearley-Greens and to set up and manage the new Huddersfield office in 1989. Now running his own business, Chris has witnessed big changes in the way the industry operates – not least the growth of the internet. “Potential buyers look at properties on the internet rather than walking around every estate agent in town as they used to,” he says. “The internet is one avenue by which to find a buyer or to sell a property, but personal contact – speaking to people and finding out exactly what they want – is an important avenue as well. “We are in a service industry it is important to give the client a confidential and trustworthys service. “People have always been able to sell houses privately. But people who do that are in the minority, As estate agents speak to estate agents, we can find out what is going on in the market and help our
Page 3 Chris Jowett
clients accordingly.” Some things never change, says Chris. House hunters are still concerned chiefly with location, location, location – properties near to good schools and convenient for shops and the commute to work. “Character houses in the right locations are what people are looking for,” he maintains. “They want something a little bit different. Insulation and energy-efficiency are also big plus points. “Makeover programmes have put the focus on design and builders have improved in terms of the design of new houses in the past 10 years. But I would prefer to see a but more individualism – instead of every bathroom
suite having to be white!” Away from the office, sport has played a big role for Chris. Until his mid-30s, he played rugby union for Cleckheaton, mainly at full-back. He also played cricket for Cleckheaton. Now working Saturdays makes it harder to get involved, although Chris plays a little golf and is a member of Fixby Golf Club. “I have had to put a lot into building up the business,” he adds. “But it has been well worth it. Things are working well and I am a lot more optimistic about the future for the market than I was 12 months ago when I set up on my own.”
HENRYK ZIENTEK
Role: Chartered surveyor Age: 53 Family: Married to Kim with children Gareth, Rhys, Megan and Gwen Holidays: Italy Car: Saab 9-3 First job: Newspaper round Best thing about job: The variety of the work and meeting many different people Worst thing about job: Seeing the disappointment of clients when a sale falls through Business tip: Polite persistence pays off in the end
Jowett Chartered Surveyors Work: Estate agency Sites: Market Street, Huddersfield Phone: 01484 536799 or 07943 657869 Email:chris@ experthome sales.co.uk
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KIRKLEES BUSIN
Cooler king holds court in Shepley A COMPANY providing water coolers has been booked for a court appearance! Honley-based Bronte Water Coolers Ltd has won a new four-year contract to supply HM Courts Service with mains-fed and bottled water coolers to every court building in northern England. The £400,000 deal will see the company deliver, install and maintain more than 600 machines to hundreds of court buildings. It comes at a time when the company has been hit by 24 months of “static growth” due to the recession. Managing director Tim Saville said: “This new contract has come at a perfect time for the company following a cold winter and news of job losses in industry on a daily basis. “For the first time in two years, we are showing real growth as this contract plus several other smaller ones has seen us increasing our workforce back to the high levels of 2007.” He added: “Bronte Water Coolers is the largest independent supplier of mains fed and bottled water coolers in the north of England – and we pride ourselves on our guaranteed next-day delivery service to all areas. It seems our reputation is now paying dividends.”
Upbeat indicators YORKSHIRE is showing signs of economic recovery, a survey has revealed. The report commissioned by regional development agency Yorkshire Forward and carried out by IFF Research showed that 74% of businesses said their performance was stable or improving over the past three months. A third of firms reported higher sales during the quarter with 22% noting a rise in the number of customers. Some 38% forecast an improvement in their businesses for the coming quarter and only 13% predict a worsening position. Some 35% of firms expect higher volumes with 33% expecting an increase in domestic orders.
W&S Wheawill & Sudworth “TAX STRATEGIES FOR ALL SEASONS” Get some innovative thinking and ideas to help your business:
➣ Remuneration planning for family companies ➣ Incentivising key employees ➣ New structures for professional partnerships ➣ Tax breaks for capital and R&D investment ➣ CGT mitigation on company sales Contact Colin Barratt or Andrew Rainbow for further details Wheawill & Sudworth Chartered Accountants, Business & Tax Advisers, Registered Auditors 35 Westgate, Huddersfield, HD1 1PA Tel 01484 423691 Fax 01484 518803 W www.wheawills.co.uk
■ WET SALES: Tim Saville, managing director of Honley-based Bronte Water Coolers
Budget surprise N my previous article, I looked at the IBudget impact that a possible scrapping in the of the Annual Investment Allowance
might have on the taxation of business profits. Instead of scrapping the allowance, the Chancellor has doubled the amount on which businesses of all size can claim a 100% tax write-off on most capital expenditure from £50,000 to £100,000. The increase took effect from April 1, 2010, for a business within the charge to corporation tax and from April 6, 2010, for a business within the charge to income tax. Many business year ends will span the date of change, so a pro rata calculation of their maximum entitlement will be required. For a company with a calendar year end, the maximum AIA for the year ended December 31, 2010, will be £87,500 (3/12 x £50,000 plus 9/12 x £100,000). A restriction will be set so that only £50,000 of that available amount can be used for expenditure incurred before April 1, 2010, (for corporation tax) or April 6, 2010, (for income tax). The availability of additional capital allowances will be attractive to plant-intensive businesses where the current AIA is insufficient. It will also be welcome to related business situations such as a group of companies where one AIA has to be shared between all companies. Another surprising Budget announcement was the increase in the amount of the most valuable capital gains tax relief available – Entrepreneurs’ Relief. Under this relief, individual’s qualifying gains are taxed at an effective rate of 10%. The limit, which is a lifetime limit, has increased from £1m of qualifying gains to £2m for disposals on or after
TAX TALK Colin Barratt
April 6, 2010. Gains in excess of these limits are taxed at a standard rate of 18%. 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. Relief will also be available if a company has ceased trading within a period of three years prior to its sale, as long as the above conditions were met in a period of 12 months prior to cessation. The increase in the limit of Entrepreneurs’ Relief is a welcome move, but to secure the maximum relief it is essential that all of the qualifying conditions are met. It may be necessary for those owning 5% of a company’s shares to become a director of the company in order to avoid losing out on a maximum of £160,000 tax relief (£2m x 18% – 10%).
Colin Barratt is tax partner at Wheawill and Sudworth chartered accountants, Huddersfield
Yorshire leads for new media YORKSHIRE is leading the way in driving forward the national digital and new media industry, latest figures reveal. A report commissioned by the digital and new media team at regional development agency Yorkshire Forward shows that employment in the sector has grown by 16% between 1998 and 2008 – higher than any other UK region. Jim Farmery, assistant director of business at Yorkshire Forward, said: “Digital and new media is a developing sector with huge potential for job creation and inward investment, which is why it has been identified as a priority sector by Yorkshire Forward. “Yorkshire and Humber has a thriving digital community – thanks in part to Yorkshire Forward’s commitment to the sector – and its continued growth and development will play a large part in furthering the region’s reputation as a leading centre of excellence in the digital and new media industries.” More than 113,000 people are now employed by Yorkshire and Humber’s 15,000 digital and new media businesses – many of them in Kirklees – along with 20,000 freelance workers. The sector covers web design and creative, film, TV, games, music, video, electronics, animation, e-learning, enterprise software, and IT solutions and services. Yorkshire and Humber is the only region to have experienced growth in the digital and new media industries higher than the national average for all industries. Mr Farmery said: “Digital and new media is a rapidly-growing industry and we’re proud that our region is already home to businesses including O2, Tunstall Telecom, BBC, ITV, Pace Micro Technology and Filtronic, as well as providing a base for more than 10% of the UK’s game development talent, regularly working on big contracts with companies like Microsoft, Sony and Sega.”
Making the connection BUSINESS people will be making the right connections at a networking event this week. The Lockwood-based Mid Yorkshire Chamber of Commerce is hosting a Connections Count business buffet on Thursday at the Cedar Court Hotel, Ainley Top. The networking event, running from noon to 2.30pm, allows each company attending one minute to present its products and services – then follow up potential leads over a light lunch. A chamber spokeswoman said: “Connecting our members is one of our key priorities.”
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Network prepared to play bigger role INSOLVENCY practitioners have relaunched a network to bring together professionals across the Yorkshire region – as latest figures suggest business failures have yet to peak. The R3 Yorkshire New Professionals Network has been set up by insolvency trade body R3 to provide professionals from trainee to manager level accountants, lawyers, surveyors and specialist financiers who operate in the Yorkshire insolvency market with an informal forum to discuss developments in the sector and their implications. Johnny Abraham, network head and restructuring manager at Begbies Traynor, said: “The insolvency regime is evolving all the time and the Yorkshire New Professionals Network is designed to help a new generation of professionals to share
■ HELP: Johnny Abraham, who heads the R3 Yorkshire New Professionals Network
b e s t p r a c t i c e a n d s t ay f u l ly up-to-date with the latest changes so that they can provide clients with the best advice and the best results. “It also gives attendees the oppor-
tunity to meet with their peers in the industry during the early stages of their career and build strong business relationships, strengthening the future of the business community in Yorkshire.” A launch event was hosted by Bibby Financial Services. The move comes after reports showed that just 2% of R3 members in the region were confident about the economic outlook for the first quarter of the year. The majority of them believed that the full impact of the recession has yet to be felt. During the last recession, the peak for liquidations was 1992, over a year after the recession had officially ended – and R3 expects that this lag will again be repeated this time round.
A warning for directors HEN the Corporate Manslaughter and CorW porate Homicide Act 2007 was finally implemented, many company directors may have
breathed a sigh of relief. Despite calls for corporate accountability at board level, the Act was designed to prosecute organisations and not individual directors. Although companies could be fined and have publicity orders imposed on them, individual directors could not be sent to prison. The first corporate manslaughter case is currently going through the courts, but has been delayed until October, 2010, due to the ill health of the company’s managing director. The case involves the death of a worker, who was killed when an excavation he was working in collapsed. What may have been missed with this focus on corporate manslaughter is that the managing director is charged with manslaughter by gross negligence and also a health and safety offence in his own personal capacity. He faces possible imprisonment or substantial fines should he be convicted. Company directors need to be aware of their potential individual liabilities should accidents occur as a consequence of their decisions or negligence. Decisions regarding expenditure on health and safety training, maintenance and repair of equipment and actions to support a good health and safety culture within an organisation should all be carefully considered. A lack of knowledge or lack of awareness of health and safety legislation cannot be used as a defence. The current Government are still uncertain about the merits of imposing positive statutory duties on directors
RISKY BUSINESS
Page 5
£90m capital fund is now on stream KIRKLEES companies are among hundreds of firms across Yorkshire to get the inside information on a new £90m venture capital and funding loan. More than 1,000 business leaders and financial intermediaries across the region have attended briefing events held by Finance Yorkshire to spotlight the new fund. A team including Yorkshire Forward delegates and Finance Yorkshire fund managers and board members who toured the region have received a positive response from corporate financiers, advisers, accountants and solicitors. The fund will provide seedcorn, loan and equity linked investments ranging from £15,000 to £2m to help small and medium businesses meet the gaps in funding they need for growth and development. Jonathan Dixon, acting chief executive of Finance Yorkshire, said: “The events have provided great opportunities to have dialogue with financial intermediaries and local business leaders. Having face-to-face contact with the people we will work
with over the next few years means we are already building knowledge of business trends in the area and of the SMEs we can invest in. “This will make for a smoother and quicker process for all involved. We now look forward to immersing our time into investing our money in the region’s promising businesses.” The project is supported financially by the European Union. It has attracted £30m investment from the European Regional Development Fund. Ring 0845 6490000 or visit www.finance-yorkshire.com
Mark Dalton
to ensure good health and safety management. Opponents to further legislation claim there is guidance available for directors on health and safety management and – as we can see in the case above – existing legislation is already in place for directors to be prosecuted. The government is likely to consider both legislative and non-legislative options in the future. As prosecutions under the CMCHA and other health and safety legislation can have severe consequences for organisations as a whole – and for directors at a personal level – health and safety management should appear as a regular agenda item at board level meetings. Wilby Risk Management recommend that companies appoint a named director with health and safety responsibilities to champion a positive health and safety culture and protect the employees and directors alike. Where a company lacks sufficient competence in house, assistance should be sought from trade bodies, consultants or similar organisations.
Mark Dalton is associate director at Wilby Ltd
a FOR FURTHER INFORMATION CALL US ON
01484 452620 WWW.HUDDERSFIELD-PRINTING.COM
5 Upperhead Row, Huddersfield HD1 2JL
KIRKLEES BUSINESS NEWS
property
Trust pays £56m for retail location
A MAJOR retail park has changed hands in a £56m-plus deal. Junction 27 alongside the M62 at Birstall has been bought by the UK Commercial Property Trust – the country’s biggest commercial property investment trust – from Henderson Global Investors for £56.63m. Junction 27 has eight retail units and 540 parking spaces covering 122,376sq ft. First developed in 1999, its anchor tenants include DSG Retail trading as Currys, Comet Group Plc, Homestyle trading as Harveys, CSL Lounge Suites Ltd trading as CSL, Furniture Village Plc, Barker & Stonehouse Ltd, A Share and Sons trading as SCS and TGI Fridays Ltd. The current gross annual rent receivable in respect of the properties is about £3.7m a year. Juntion 27 is the second significant purchase by the UKCPT in recent weeks. The trust recently announced the purchase of three shopping centres in Shrewsbury for £61m. Earlier this year, the UKCPT raised about £150m through a stock market placing to fund new acquisitions. As a consequence of the capital raising, the assets under management of the trust have grown to about £920m. Robert Boag, manager of the UKCPT, said: “This purchase represents a significant investment which is funded by the equity raised by the trust earlier this year. “The latest acquisition increases the portfolio
■ STORE LAYOUT: Junction 27 at Birstall is set to bring rewards for its new owners
asset base and the UKCPT’s exposure to retail warehousing that offers medium to long term growth prospects. We see numerous asset man-
industrial complex
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
modern industrial unit
4 RANGE LANE Halifax, HX3 6DL
● 1,314sqm (14,149sqft) 4 RANGE LANE Halifax, HX3 6DL FORMER HOSTEL PREMISES ● Main road frontage 395m2 (4,250ft2) Site Area 0.13 Hectares (0.33 Acres) ● Good loading ■ Vacant possession ■ Suitable for refurbishment for alternative occupational residential ● 3 Phase electricity uses or possible complete redevelopment, subject to planning ● consent Will split
● 199.36m² (2,146ft²) 4 RANGE LANE Halifax, HX3 6DL ● Popular Leeds Road Corridor FORMER HOSTEL PREMISES
4 RANGE LANE Halifax, HX3 6DL FORMER HOSTEL PREMISES
2) location 395m2 (4,250ft Site Area 0.13 Hectares (0.33 Acres) ● Close to M62 Motorway ■ Vacant possession ■ Suitable for refurbishment for ● Good loading alternative occupational residential uses or ● possible complete 600 sqft starter units redevelopment, subject to planning consent available
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
office / leisure premises
4 RANGE LANE Halifax, HX3 6DL
first floor offices
4 RANGE LANE Halifax, HX3 6DL
COLNE ROAD, HUDDERSFIELD, HD1 3ER FORMER HOSTEL PREMISES
COLNE VALE BUSINESS PARK,PREMISES MILNSBRIDGE, HD3 4NY FORMER HOSTEL
NEW STREET,HOSTEL HUDDERSFIELD, HD1 2AX FORMER PREMISES
LOCKWOOD HUDDERSFIELD, FORMERROAD, HOSTEL PREMISESHD1 3TG
● 89.96m² (968ft²) ■ Vacant possession
● 444.37sqm (4,783sqft) ■ Vacant possession
● 413.52sqm (4,447sqft) ■ Vacant possession
● 193.6m² (2,084ft²) ■ Vacant possession
To Let £7,250 p/a
395m2 (4,250ft2) Site Area 0.13 Hectares (0.33 Acres)
■ Suitable for refurbishment Popular industrial location
for ● alternative occupational residential ● Outskirts town centre uses orofpossible complete redevelopment, subject to ● Max. eaves 5.5m planning consent ● Rateable value £5,300
To Let Rent On Application
395m2 (4,250ft2) Site Area 0.13 Hectares (0.33 Acres)
Suitable for 3■Phase Electricity
refurbishment for ● alternative occupational residential ● Popular Industrial Location uses or possible complete redevelopment, ● Good Access for Loadingsubject to planning consent ● 666sqft Also Available
single storey industrial
GEORGE STREET, MILNSBRIDGE, HD3 4JD To Let
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
● 1677.25sqm [18,054 4 RANGE LANE Halifax, sqft] HX3 6DL FORMER HOSTEL PREMISES
● Popular Industrial Location 2) 395m2 (4,250ft Site Area 0.13 Hectares (0.33 Acres) ● Secure Yard ■ Vacant possession ■ Suitable for refurbishment for ● Flexible Terms alternative occupational residential uses or ● possible complete Also units of 37,889, 13,188 redevelopment, subject to planning consent & 5830sqft
TAKE-UP of industrial and distribution space across Yorkshire rose by 7% last year, according to a new report. Figures from commercial property consultancy Lambert Smith Hampton showed that total take-up across the region reached 8.1m sq ft. in 2009. The agency’s National Industrial and Distribution Report 2010 revealed that the “big shed” sector accounted for just under 2m sq ft of transactions during 2009 – with Wakefield Europort clocking up one of the largest deals of the year. However, the increase in total take-up is still below the national average – and West Yorkshire’s supply of modern, small to medium-sized units remains restricted. Rob Whatmuff, head of industrial and logistics agency for LSH in Yorkshire, said: “The potential shortage of good-quality accommodation across West Yorkshire, in all size sectors, but particularly the small to medium sectors, will lead to increased rental levels in the immediate future.” But he added: “The amount of speculative development which has taken place in previous years has left South Yorkshire with a significant oversupply of larger distribution units, unlike West Yorkshire which has limited options in comparison.”
WHITACRE STREET, HUDDERSFIELD, HD2 1LY To Let £10,000 p/a
single storey industrial
4 RANGE LANE Halifax, HX3 6DL
Demand for industry sites
modern industrial unit
MANCHESTER ROAD, HUDDERSFIELD, HD4 5TA To Let £32,500 p/a MAY SELL
4 RANGE LANE Halifax, HX3 6DL FORMER HOSTEL PREMISES
agement opportunities to improve income and deliver a strong income return in both Shrewsbury and Junction 27.”
Page 6
To Let £17,500 p/a
395m2 (4,250ft2) Site Area 0.13 Hectares (0.33 Acres)
Suitable for refurbishment for ● Prominent location alternative occupational residential uses or possible complete ● Grade II listed building subject to redevelopment, planning consent ● Main commercial area of Huddersfield ■
office suites
4 RANGE LANE Halifax, HX3 6DL
To Let £25,000 p/a
395m2 (4,250ft2) Site Area 0.13 Hectares (0.33 Acres)
for refurbishment for alternative occupational residential ● Fully Inclusive Rent uses or possible complete redevelopment, subject to ● Computer Cabling planning consent ● Car Parking
●
■ Suitable Self Contained
office suites
4 RANGE LANE Halifax, HX3 6DL
7 ST GEORGES SQUARE, HUDDERSFIELD, FORMER HOSTEL PREMISES HD1 1LA
CLOTH HALL STREET, HUDDERSFIELD, FORMER HOSTEL PREMISESHD1 2EG
● 67.07m² - 275.17m² (722ft² - 2,962ft²) ■ Vacant possession
● 98.62 - 198.53sqm (1,061 - 2,037sqft) ■ Vacant possession
To Let Rents on Application
395m2 (4,250ft2) Site Area 0.13 Hectares (0.33 Acres)
■ Suitable for refurbishment for ● Attractive Grade occupational II Listed Building residential alternative uses or possible complete ● Prominent location redevelopment, subject to planning consent ● Opposite Railway Station
To Let From £9,000 p/a
395m2 (4,250ft2) Site Area 0.13 Hectares (0.33 Acres)
■ Suitable for refurbishment for ● Recently refurbished alternative occupational residential ● Good usesQuality or possible complete redevelopment, subject to ● Open Plan planning consent ● Self contained
T. 01484 530361 www.bramleys.com
■ industrial LAND ■ offices OFFICES INDUSTRIAL ■ retail INVESTMENT ■ investment RETAIL ■ land
Industrial
To LeT
Offices
To LeT
To LeT - immediatley available
Manor House, Manor Street, Dewsbury
Crystal Works, Union Road, Heckmondwike
359 m2 (3,867 sq ft) Good quality office space situated within Dewsbury town centre with secure on site parking - flexible terms
576 m2 (6,200 sq ft) High quality modern industrial/warehouse unit only a short distance from main A62 Leeds Road.
Colneside Business Park Milnsbridge Unit M4 1, 595 m2 (17,166 sq ft)
To LeT/MAY SeLL
High quality warehouse/industrial unit including internally built offices with excellent on site loading also available from 5,000 sq ft up to 40,910 sq ft
Henrietta Street, Batley
To LeT - immediatley available
Well located town centre former solicitors office immediately available for occupation
173 m2 (1,749 sq ft)
To LeT Comercial/Retail
To LeT/MAY SeLL ReNT SLASHeD To oNLY £2 PeR SQ FT
Unit 17 Flush Mills, Heckmondwike 4,329 m2 (46,600 sq ft) High quality recently refurbished lofty warehouse/industrial unit benefitting from excellent on site loading and only a short distance from A62 Leeds Road.
Colne Road, Huddersfield
Joint Agent
For more information contact Alec Michael on 07717 870 320 or email alec@michaelsteel.co.uk
Huddersfield Road, Mirfield 669 m2 (7,200 sq ft)
90 m2 (970 sq ft) Modern trade warehouse/starter unit on outer ring road adjacent Just Tyres and Plumb Centre just off Chapel Hill.
ReNT DRAMATICALLY ReDUCeD
tel: 01484 530361 www.bramleys.com
Large open plan showroom/retail space adjacent The Bathroom Shop, Speight’s Lighting & Oxfam with large car park.
KIRKLEES BUSINESS NEWS Mark Jenkins & Robert Churchouse
Yorkshire BS YORKSHIRE Building Society has appointed former Chelsea Building Society director Mark Jenkins to its general management team. Mr Jenkins (pictured), 47, joined Chelsea Building Society in October, 2009, as strategy and planning director and played a key role in the merger process of the Chelsea and the Yorkshire. Before that, he was at Nationwide Building Society for 15 years where he held a variety of positions, including managing director of Nationwide Life and Unit Trust Managers, divisional director commercial, responsible for Nationwide’s £21bn commercial mortgage book and finance director at a number of the building society’s subsidiaries. Earlier, the Yorkshire, which has its roots in Huddersfield, named Robin Churchouse as its new finance director. Mr Churchouse, 44, will take up the post on June 1 in succession to Andrew Gosling, who is retiring as finance director after nine years in the role. Mr Churchouse joined the Bradford-based society in July, 2004, as head of finance after gaining wide experience with a number of financial services organisations. He was appointed general manager for risk and planning in 2006. Iain Cornish, chief executive of the Yorkshire, said: “Robin has made a significant contribution to managing the risks and planning the society’s future strategy during a period of great change for the organisation. “His knowledge of the society and experience in finance, risk management and strategic planning equip him to be an excellent finance director.”
Movers and shakers
Ice cream firm is a hot winner
AN ice cream maker had added to its clutch of cool awards. Denby Dale-based Yummy Yorkshire has been named as the latest winner of the Business of the Month Award run by Huddersfield law firm Eaton Smith. Yummy Yorkshire was launched in 2007 by husband and wife team, Jeremy and Louise Holmes, who began making and selling ice cream at Delph House Farm. They also went on to open an ice cream and coffee parlour. The firm makes its ice cream using fresh milk and cream from the farm’s herd of Friesian Holsteins and creates ice creams combining modern exotic flavours with traditional values. Among the flavours, Lou’s Liquorice
ice cream was a winner at the 2009 deliciouslyorkshire Awards and got three gold stars at the 2009 Guild of Fine Food Great Taste Awards. Jeremy and Louise received the Business of the Month Award from David Blakeborough at Eaton Smith’s High Street offices. Louise said: “We work hard to make Yummy Yorkshire a success and the feedback from our customers and recognition like this makes it all worthwhile.” The award is run by Eaton Smith with Mid Yorkshire Chamber of Commerce and Business Link Yorkshire for firms in Kirklees, Calderdale and Wakefield. For details, contact Ian Greenwood on 01484 821389.
Matthew’s a coffee champion!
David Mils
Harratts Volvo MOTOR group Harratts has appointed David Mills as general manager of its Harratts Volvo dealership in Huddersfield. Mr Mills, who is also general manager at the Harratts Mitsubishi outlet in Darton, joins the Bradley dealership amid signs that the motor group is weathering the worst downturn in the motor industry for many years. Harratts, the UK’s second largest Volvo seller, recently revealed that it had doubled Volvo’s average sales increase across the UK – posting 12% growth throughout 2009. The latest sales figures from the Huddersfield dealership suggest 2010 could be another recession-busting year. Shaun Harratt, managing director of Harratts, said: “David is a gifted general manager with a proven track record in successfully overseeing and growing dealerships. “He joins the dealership with a wealth of experience and expertise that will ensure we build on the dealership’s success. “We are also delighted with the latest sales figures from Volvo Huddersfield that show a doubling in car sales from this time last year – something we are witnessing across our group.”
Richard Noon
Ask Research RICHARD Noon has been joined Huddersfield-based Ask Research. Mr Noon joins the team at the Media Centre as a research associate from Zussi Research, the consumer research arm of online publisher Associated Northcliffe Digital, where he headed the organisation. His appointment strengthens Ask’s current online research capability as the company looks to invest in new technologies and diversify with new on-line research methodologies for 2010.
Page 8
■ TASTE TEST: Matthew Roberts (centre), of Caffe Ritazza in Huddersfield, with Tony Keating (left), chief executive of SSP UK, and Graziano Moroni, SSP UK national coffee champion A HUDDERSFIELD man has been hailed as Britain’s coffee king. Matthew Roberts of Caffè Ritazza, based at the town’s railway station, was crowned UK Barista Champion at the 2010 SSP UK National Barista Championships. The competition, held in London, was staged by travel caterer SSP UK to recognise and celebrate the improving quality of coffee supplied to cafes and restaurants based at railway stations, bus stations and airports. Matthew was among eight fianlists seeking to impress a panel of expert judges by producing four espresso, four cappuccinos and a signature drink to industry expert standards within 15 minutes. Each beverage was marked on technical ability, presentation, consistency and taste. After wowing the audience with his
flawless delivery and drinks, quiet confidence and Northern charm, Matthew’s creativity and knowledge shone through when he presented his speciality coffee, the Chilli Mocha. He collected his prize of a weekend away and £500 spending money from SSP UK chief executive Tony Keating. Said Matthew: “I’m so happy to have won the title. I am passionate about what I do and it is a great achievement to be recognised for this. “I feel a great sense of pride and am looking forward to representing Huddersfield and the UK in the Caffè Ritazza World Championships and representing SSP UK in the national UK Barista Championships 2011.” Chief organiser and SSP UK national coffee champion Graziano Moroni said: “The skills that Matthew has displayed from start to finish have been exceptional.”
■ RECIPE: David Blakeborough (centre), presents the award to Louise and Jeremy Holmes watched by Carolyn Atkinson, of Sheards; and Alan Care, of Business Link
Julie’s triple challenge HUMAN resources consultant Julie Sykes is getting the run around! For Julie, who runs Shepley-based JCS HR, is two-thirds of the way through an exhausting charity fundraising effort – competing in two half-marathons and a gruelling coast-to-coast bike ride in the space of less than a month. Julie (pictured right) has already completed the Liverpool half-marathon and last week took part in the coast-to-coast challenge from Whitehaven to Sunderland. She completes her “treble” on April 25 by running in the Sheffield half-marathon. Said Julie: “I have previously run several half-marathons, four London marathons and completed a 500km bike ride through Poland in aid of various national charities. “But last year I worked with Skipton-based Craven Domestic Violence Service in a professional capacity and was incredibly impressed with the work they do to support victims and survivors of domestic abuse. “If I can help them to continue with their work by raising funds through sponsorship, then all that exercise is definitely worthwhile!” Chris Knowles-Fitton, chairman of the charity’s managing committee, said: “Julie was very professional and knowledgeable in her dealings with us and we were extremely pleased with the work she undertook on our behalf. “We are delighted that she was so impressed with the value and importance of our work that she wants to raise funds on our behalf. We wish her every success.” Julie is no stranger to fundraising. Her exploits in the London Marathon four times raised thousands of pounds for the Anthony Nolan Trust. She has also completed a 500km cycle ride through Poland as well as competing in several half-marathons. A member of the Denby Dale Travellers running club, Julie, lives at Shepley. Supporters can still sponsor Julie by visiting http://www.jcs-hr.co.uk/contact.php