HO HO HO Welcome to the Christmas Edition of OnTrade Scotland Magazine
Christmas time, mistletoe and wine or at least that’s what we as an industry are hoping for.
This is a hugely important time for the industry and we are exited to see so many venues trying to offer an experience for customers.
We along with the industry, venues, trade bodies and opposition parties continue to call for Scottish Government to provide the industry with the rates support it desperately needs to allow the industry to get on its feet properly and help support the wider economy, THAT IS OUR CHRISTMAS WISH.
A massive thank you to all of our commercial partners and brands for their continued support over the last year and to all of the brands working with our Growth Program thank you for choosing to work with us to grow your brands engagement with the industry.
To everyone who engages with the title, our social and AT THE BAR we want to say a massive thank you, with almost 500,000 interactions last month across our platforms we are blown away.
From the next edition in Jan we evolve and with your continued support we aim to become the most engaged with title in the industry in the UK with OnTrade Magazine.
From myself, Hayley, Natalie, Fiona, Craig, Lisa and all of the team at TopGun Media Group we want to wish you all
A VERY MERRY CHRISTMAS & A HAPPY NEW YEAR
STAY FESTIVE
STAY COLLABORATIVE STAY AMAZING
Justin Wingate Director at TopGunMedia
Hayley Ewing Head of Events - events@topgunmedia.co.uk
Fiona Gauld Production - info@topgunmedia.co.uk
For press enquires or advertising opportunists please call or email: Email: info@topgunmedia.co.uk Telephone: 0141 556 4111
The New Show in Town
Yes They Have …..
Hotspot is Back With a Bang
Industry News
DIAGEO’S HOSPITALITY PROGRAMME LEARNING FOR LIFE LAUNCHES MORE COURSES ACROSS EVEN MORE CITIES IN GREAT BRITAIN
Newly launched programmes aim to support the industry by providing opportunities for individuals facing education and employment challenges.
Diageo’s award-winning business and hospitality skills programme, Learning for Life, delivered in partnership with Springboard, is expanding its reach across Great Britain. With 32 courses now available, the programme is building off its Scottish roots and strengthening its presence in the North and the Midlands, introducing new courses in Liverpool, Manchester, Birmingham, and Nottingham.
With nearly half of the hospitality sector experiencing staff shortages and vacancies remaining higher than prepandemic levels, Learning for Life is part of Diageo’s longterm commitment to support the sector from the bottom up – bridging the gap between opportunities and eager individuals that have faced barriers to education and employment. Through Learning for Life and other skills programmes, Diageo has a bold ambition to provide business and hospitality skills to 200,000 people globally, aiming to enhance diversity and inclusion by ensuring 50% of beneficiaries are women.
To date, 7,000 participants across Great Britain have graduated from the programme, with an average of 82%of participants moving into employment or further education. The scheme equips unemployed people with the education and skills needed to thrive in the dynamic industry, providing support to individuals struggling to enter the workforce, upskilling talent, and positioning hospitality as a long-term
career opportunity.
The courses cover essential training and are tailored to individual needs, ensuring inclusivity for all participants. The sessions are strategically located in areas with high unemployment rates, particularly in the North of England and London, which reports lower employment rates than last year.
By targeting these regions, the programme addresses the critical need for job opportunities and provides a pathway for sustainable employment in the hospitality industry.
Participants benefit from classroom-based learning, sectorspecific qualifications, hands-on training, and confidencebuilding activities like interview preparation.
Recognising the role of hospitality professionals as responsible drinking advocates, the programme includes Positive Drinking strategy and Alcohol-Free training. Earlier this year, two allfemale courses were delivered in Nottingham and Glasgow, reinforcing Diageo’s mission to champion gender diversity.
Gillian Dalziel, Programme Manager, Learning for Life, Diageo GB, says: “Our goal is to support a pipeline of passionate individuals wanting to break into the diverse world of hospitality. This initiative has provided a stepping stone to success in people’s career journeys. The programme helps instill lifelong confidence and break the cycle of barriers to employment. The enthusiasm and positive impact generated by the programme are overwhelming, and we aim to continue extending our support across the UK in accessible formats.”
SPREAD HOPE THIS CHRISTMAS WITH THE BEATSON BAUBLE APPEAL
This Christmas, Beatson Cancer Charity is inviting the community to help spread hope and comfort through the Beatson Bauble Appeal 2024.
Each bauble hung symbolises a message of love, remembrance, or gratitude, creating a powerful display of support for cancer patients and their families during this meaningful time of year.
The Beatson Bauble Appeal is a chance to honour loved ones, thank Beatson’s dedicated team, or extend hope to those facing cancer. Donations directly fund vital services and resources that make a difference. Participating is simple, with options to give online, leave a dedication message, or text “BAUBLE” to 70580 to donate £10.
Every contribution has a tangible impact: £25 can provide a care package to help patients feel more comfortable; £50 funds a specialist podiatry session for someone dealing with chemotherapy side effects; £75 enables complementary therapies for three patients, while £100 provides MP3 players filled with relaxation techniques to ease anxiety for six patients.
With the Beatson Bauble Appeal, the charity aims to bring a festive season filled with hope, care, and compassion to those who need it most. Supporting the Bauble Appeal is a way to make this Christmas brighter and share kindness, strength, and solidarity with everyone impacted by cancer.
Brand News
PILOT MAKES FIRST STEPS INTO SPIRITS MARKET
Cult Leith brewery Pilot has created a new spirit from one of its biggest beers, Peach Melba Sour.
The new Peach Melba Spirit Drink is a distillation of Pilot’s best-selling beer, with peach and raspberry purees, additional sliced peaches and vanilla.
The product is the first venture into the spirits market for the brewery, best known for its avant-garde range of beer including Leith Lager, IPAndarin and Blønd.
The team at Pilot devised the concept and, with the help of the team at Holyrood Distillery, distilled the new Peach Melba Spirit Drink.
Matt Johnson from Pilot Beer, said: “We’ve been planning this for a while. We wanted to create something special and as Peach Melba Sour is one of our most popular beers, we thought it would be really interesting to spread our wings a bit and create a spirit that captures the essence of the original beer.
“We always like to surprise our customers with something new, so we gave the amazing team at Holyrood Distillery a shout as they have a very similar mindset to us. Like Pilot, they are based locally and are not afraid to experiment and explore new methods. The team at Holyrood has been incredible and this has been a real collaborative effort. Our background is obviously beer and we’re not moving away from that, but we wanted to try something a bit different.
“As we discovered, there’s a world of difference between creating beers and creating spirits and Holyrood’s level of expertise is phenomenal.
“The drink itself is a flavoursome, aromatic spirit drink with a huge hit of peach, raspberry and vanilla undertones and a whisper of new-make-ey character, bringing a subtle complexity to it.”
DIAGEO CREATES THE DIAGEO LUXURY GROUP TO UNITE ITS GLOBAL LUXURY SPIRITS
AND EXPERIENCES FOR THE FIRST TIME
into one portfolio including key luxury brands Brora and Port Ellen, iconic Scottish brand homes including Johnnie Walker Princes Street and luxury wine business Justerini & Brooks.
The new division will be responsible for chartering luxury strategy and accelerating the growth of brands that retail at $100 and above, in partnership with their respective brand stewards globally. This is the fastest growing price tier in international spirits since 2020, underpinned by long term consumer trends, like a growing interest from young and diverse consumers and the growing desire for intangible experiences in luxury.
Led by Julie Bramham, former Global Brand Director of Johnnie Walker, who is also responsible for shaping and delivering the marketing transformation agenda at Diageo, existing colleagues within marketing, sales and commercial teams have been aligned under new strategy and leadership, as the Diageo Luxury Group aims to become the number one luxury spirits company in the world[4].
The Diageo Luxury Group will focus on key influential cities around the world, Global Travel and the market of Great Britain, the home of Scotch Whisky. The news comes as Diageo Great Britain simultaneously launches the Diageo Luxury Company (DLC), a division within the home market. Operating within a broader price point of £30+, the DLC will focus on locally relevant luxury brand building and memorable consumer experiences, working with brands including Don Julio, Johnnie Walker, and Cîroc.
Diageo Luxury Group is a new global division which unites Diageo’s luxury assets
THE NEW SHOW IN TOWN
This month we take a look at the new show in town giving customers a different experience every night of the week BARLINKY’S Glasgow
Berlinkys is a brand new, two storey live entertainment venue on Sauchiehall St in the heart of Glasgow City Centre. We showcase both local bands & talent as well as some of the best live acts from around the UK. On any given night you could see some dazzling aerial artists, comedy luminaries, contortionists & of course the famous Berlinkys show Team to name but a few. We’ve been trading in the city for over 25 years & pride ourselves on focusing our business from a customer’s perspective. We’re open from 12pm every day (12.30pm on a Sunday) serving some incredible brunch food as well as our delicious main menu full of gastro pub favourites. We have entertainment 7 days a week ranging from comedy, live music, quizzes & the infamous band-a-oke where you can get to live your rock star dreams with the Berlinkys house band behind you.
We’re offering something completely new to the market & providing more bang for your buck. Add to that a beautiful, comfortable & cosy interior, state of the art sound system & a bespoke lighting display & you’ve got a must see venue. Fitting everyone in! Like every new venue, the start is always the most difficult but we’re fortunate to have hit the ground running after having spent 18 months planning & fine
tuning all the details so it’s gone smoother than most new openings I’m happy to say. That being said, hospitality is still a challenging sector & we face the same issues as every other venue, particularly when it comes to staffing. Thankfully, with it being such a fun & unique place to the city, we’re getting plenty of applicants although there’s always room for more.
As I mentioned previously, hospitality is still a difficult sector. There’s any number of places that customers could choose to spend their money but none who offer what we do & we feel that people, rightly so, want an experience if they’re going to part with their hard earned cash.
Customers are a lot more discerning nowadays. Social Media has opened up the world to people from the comfort of their own home so expectation levels rise with that & it’s incumbent on us as operators to keep offering something new, fresh & exciting. We’d loved the building for years & when the opportunity arrived to buy it, it was too good an opportunity to turn down & put something so special into what is a fantastic space.
Check out berlinkys.com and keep an eye on our social media channels for all the latest news on acts & entertainment.
OH YES THEY HAVE...
It’s Panto season , oh yes it is ... With the time honoured tradition of panto at Christmas what better way to begin an experience either with the family or with friends than a fun night at the patio to get you in the festive mood and lift your spirits? We look at some of the options for you to get your TWANKY ON this year ….
WEANS IN THE WOOD(LANDS)
Join Oran Mor for Weans in the Wood(lands)... another hysterical, subversive Christmas panto full of laughs, boos and, of course, a pie!
26th Nov 2024 to 5th Jan 2025
Oran Mor
Oran Mor Byres Road, Glasgow West End G12 8QX
PETER
PANTO AND THE INCREDIBLE STINKERBELL
With plenty of swashbuckling shenanigans to be had, don’t miss this year’s Tron Pantomime... Peter Panto And The Incredible Stinkerbell!
22nd Nov 2024 to 5th Jan 2025
Tron Theatre
63 Trongate, Glasgow City Centre G1 5HB
PETER PAN
Join Peter Pan and the characters you know and love when this swashbuckling J M Barrie pantomime adventure, starring Elaine C Smith and Johnny Mac, comes to the King’s Theatre Glasgow!
23rd Nov 2024 to 5th Jan 2025
Kings Theatre Glasgow 297 Bath Street, Glasgow City Centre G2 4JN
BEAUTY AND THE BEASTIE
From the team that brought you the hilarious and much-revered adventure Treasure Island, this year’s panto at The Pavilion Theatre Glasgow will be Beauty And The Beastie!
28th Nov 2024 to 12th Jan 2025
The Pavilion Theatre Glasgow 121 Renfield Street, Glasgow City Centre G2 3AX
MAW GOOSE
From the Producers that brought you last year’s smash hit A Crackin’ Cinderella Story, Insideout Theatre Productions Ltd proudly presents Maw Goose at Websters Theatre!
29th Nov 2024 to 31st Dec 2024
Websters Theatre
416 Great Western Road, Glasgow West End G4 9HZ
ALADDIN
After the success of last year’s panto Cinderella, Theatre Presto return to the Scottish Mask and Puppet Centre in December with Aladdin!
14th Dec 2024 to 21st Dec 2024
Scottish Mask and Puppet Centre 8-10 Balcarres Avenue, Glasgow West End G12 0QF
WIZARD OF OZ - A PURE WICKED GLESGA PANTO
Join Dorothy, her wee dug Toto and bonkers Aunty Sandra as they embark on an unexpected journey from Glasgow to the land of Oz... via the yellow brick road of course!
7th December 2024 - 5.30pm & 7.30pm
The Pyramid at Anderston 759 Argyle Street, Glasgow West End G3 8DS
THE WIZARD OF OZ PANTOMIME
The Theatre School of Scotland cannot wait to welcome the wonderful magic of Oz into this year’s panto production at the SEC Glasgow!
19th Dec 2024 to 23rd Dec 2024
SEC Centre, Scottish Event Campus Exhibition Way, Glasgow West End G3 8YW
ADULT PANTO: GAGGING FOR A BALL
Come and experience all your usual panto frolics with added naughtiness when Adult Panto returns to The Britannia Panopticon this December!
20th Dec 2024 to 21st Dec 2024
The Britannia Panopticon Music Hall 113-117 Trongate, Glasgow City Centre G1 5HD
Hopscotch Theatre Company and Glasgow Life present a fresh retelling of the classic tale Pinocchio where avatars and influencers pull the strings!
28th Nov 2024 to 20th Dec 2024
Various Locations Glasgow
WEEGIE HINK AE PANTO?
The Weegie boys are making themselves home at Oran Mor Glasgow this Christmas with an all new, whackier, funnier and Ruder show, that’s definitely not your average seasonal panto!
20th Dec 2024 to 21st Dec 2024
Oran Mor
Oran Mor Byres Road, Glasgow West End G12 8QX
HOPSCOTCH THEATRE AND GLASGOW LIFE PRESENT PINOCCHIO
BUCKFAST TONIC WINE IS A UNIQUE PRODUCT THAT CAPTIVATES THE SENSES WITH ITS DEEP FULL-BODIED VELVETY FLAVOUR AND LINGERING WARM VANILLA FINISH.
DATING BACK TO 1897, BUCKFAST TONIC WINE CONTINUES TO BE PRODUCED AT BUCKFAST ABBEY USING THE SECRET RECIPE.
BUCKFAST TONIC WINE CAN BE SAVOURED ON ITS OWN OR WITH ITS AROMATIC PROFILE LENDS ITSELF TO ENDLESS POSSIBILITIES.
Introducing buckfast and lemonade. THIS ready mixed, light and refreshing cocktail COMBINES OUR TRADITIONAL BUCKFAST TONIC WINE WITH LEMONADE AND IS available in 250ml cans.
perfect for summer garden parties, festival VIBES or SIMPLY adding a unique twist to your evening gatherings. BEST SERVED CHILLED.
ABERDEEN HOTSPOT IS BACK WITH A BANG IN BOOST FOR CITY’S NIGHTLIFE SCENE
One of Aberdeen’s most popular bars and live entertainment venues has burst back on to the city’s nightlife scene this summer following a £400k summer ‘glow-up’.
One of Aberdeen’s most popular bars and live entertainment venues has burst back on to the city’s nightlife scene this summer following a £400k summer ‘glow-up’.
Paramount Bar on Bon Accord Street has just revealed the city’s boldest and sexiest interior makeover, which includes sharks coming out of walls, strobe and neon lighting, animal print seating, double cubicle in the ladies and juicy lip urinals.
Paramount unveiled its eye-popping new look as part of an exclusive reopening party last weekend, welcoming hundreds of partygoers from across the city and beyond.
The iconic Charlie Sheen shot is also back by popular demand, along with mixology classes and resident DJ’s.
Paramount has made its name as one of the Aberdeen’s most exciting venues since crashing on to the city’s nighttime entertainment scene back in 2005.
It is hoped that Paramount’s latest transformation will give a much-needed boost to the city’s nightlife scene just in time to welcome university students for the start of the new year, as well as local partygoers.
General Manager of Paramount Bar, Chloe Morton, said:
“The waiting is finally over. We’re back with a bang and an eye-
popping new look at Paramount. This really is the boldest and sexiest interior design makeover Aberdeen has ever seen.
“We’ve got sharks coming out of walls, strobe lighting, neons, animal seats, disco people, double cubicle in the ladies and juicy lip urinals. There’s no place like it.
“The iconic Charlie Sheen shot is also back behind the bar, so we can’t wait to raise a glass and welcome back our local fans, as well as students arriving in the city for the start of the new university year.”
Paramount is now open Fridays from 5pm to 3am, Saturdays from 4pm to 3am, and Wednesdays and Thursdays from 5pm to 1am.
For more information on Paramount Bar, go to www. paramountbar.co.uk, www.instagram.com/paramount_bar and www.facebook.com/ParamountBarAberdeen
Paramount Bar is owned and operated by Signature, a leading Scottish hospitality group made up of over 20 bars, restaurants, hotels and a brewery, with venues located throughout Glasgow, Edinburgh, St Andrews, Bridge of Allan and Edinburgh, including Paramount Bar and The Spiritualist in Aberdeen. For more information on Signature Group, go to https://signaturepubs.co.uk
DISCOVER THE NEW ART OF COFFEE WITH BLUEWATER’S GROUNDBREAKING CAFÉ STATION: PROVIDING BARISTA
ARTISTS ELEVATED CONTROL OF TASTE AND AROMA
Bluewater, Sweden’s pioneering global water purification and beverage brand, is thrilled to announce the UK launch of its groundbreaking Café Station. It provides barista artists unmatched mastery of the taste and alluring aromas of each cup brewed in their specialty coffee kitchens and delivering unmatched consistency in every cup.
Innovated by product designers and water scientists together with baristas at the Bluewater Innovation Lab in Stockholm, Sweden, the state-of-the-art Café Station completely transforms the coffee brewing experience. Baristas are empowered with extraordinarily consistent water quality and Bluewater’s unique Liquid Rock® mineral dosing system to create coffee masterpieces that tantalize the senses like never before.
Because water lies at the heart of every standout cup of coffee, the Bluewater Café Station redefines the bean-to-cup journey by perfectly calibrating the mineral composition of water to match the unique profile of the coffee bean being used. This allows barista artists to unlock and amplify the intricate flavours and aromas of their speciality beans to deliver a consistently sublime brew.
“Tap water quality is often overlooked, yet it plays a crucial role in the brewing process,” says Maximillian Lundin, coffee division manager at Bluewater. “The Café Station solution not only purifies water of all known cancer-linked contaminants such as PFAS and other chemicals but physically enhances it with the unique Bluewater Liquid Rock mineralizing technology,
providing baristas a reliable ‘best friend’ in their pursuit of the perfect brew.”
With its advanced tech and user-friendly design, the Bluewater Café Station is a surgically precise tool allowing baristas to unlock the full potential of elite coffee beans beyond mere precision brewing. Leveraging artistry and science in equal measure, the Bluewater Cafe Station empowers the barista to elevate their craft by enabling them to tailor their water’s mineral balance to perfectly harmonize with each bean’s distinctive profile.
From the vibrant florals of Ethiopian Heirlooms to the delicate complexities of Panama Geisha, the Bluewater Cafe Station allows baristas to highlight and showcase every nuanced note, whether fragrant floral, bright fruitiness, or chocolatey undertones. Designed for those who appreciate both tradition and innovation, the system ensures that each brew tells the bean’s story, delivering an unparalleled experience with every cup.
“The Bluewater Café Station allows baristas to super-power their craft like never before,” Lundin says.
COCA-COLA BRINGS FESTIVE CHEER WITH RETURN OF THE WORLD NEEDS MORE SANTAS CHRISTMAS ADVERT
Coca-ColaTM is continuing to build excitement ahead of the festive season with the return of its iconic The World Needs More Santas Christmas ad to the nation’s screens.
The advert aims to remind everyone that one act of Christmas kindness can spark the ‘inner Santa’ in each of us, supported by video-on-demand, cinema, and out-of-home advertising. The ad features a cover of Anyone Can Be Santa by British singersongwriter Celeste.
Soft drinks remain a staple of Christmas occasions in the ontrade and the Coca-ColaTM range is at the forefront of this –including Coca-Cola Original Taste, the no.1 soft drink in GB[1], Diet Coke, the number one zero sugar cola in the on-trade[2],
and Coca-Cola Zero Sugar, the fastest growing cola in GB[3]. Rob Yeomans, vice-president, commercial development at CocaCola Europacific Partners (CCEP) GB, said: “Coca-Cola has been bringing people together at Christmas for more than 130 years, and this year is no different. As the biggest soft drinks brand in GB[4], Coca-Cola has become a festive staple thanks to its iconic and eagerly awaited Christmas campaigns, famous CocaCola truck and POS kits, making it a must-stock for venues this season.”
IT'S ALL ABOUT THE MONEY!
How to save tax and maximise cash flow, for the next generation or positioning to sell.
We welcome back George Lafferty, Insolvency Practitioner, from McLaren Insolvency Practitioners Ltd, who addresses some issues often asked about by operators and discusses sensible options.
So we know it’s not all about the money, but it plays a very important part of the daily operation of all most businesses and certainly licensed trade businesses. There are a whole host of other considerations but if a business is consistency not making money it will fail so at the end of the day, it really is – at least in part – about the money!
As Insolvency Practitioners we have an obligation, when faced with a company in an insolvency situation, to look at how, and why, money has been taken out of a business. Because we are often not called in until the business is at the stage of insolvency, it can be too late for us to do anything to save the business. Sometimes it can trade out of insolvency, but a far better approach is for operators to speak to us at an early stage. Sometimes operators will come to us, on their own, through a referral from a colleague or friend, via their solicitor or accountant, as part of a business review or as soon as issues arise. We always welcome that as it allows us to work with the business’ solicitors, accountants, business advisers and the operator him or herself to try to find options for the business.
Joanna Millar is an experienced corporate and licensing solicitor. She has often given advice at the On Trade Scotland ‘At The Bar’ events that there can be various options a business operator may not have thought about. Consulting advisers such as McLaren Insolvency need not
be a death knell but could be the saving grace of a business. Joanna says: “Taking advice at any stage of a business’ progress is always a good idea. It need not cost a lot and often first meetings are free. If a business is struggling, there can be a number of reasons for that. Sometimes part of a business may need to close or just move in a different direction but, with good advice that can be achieved. We work with the operator, their accountants and business advisers. George and I have seen many businesses who have taken advice from us thrive and go on to greater things. It’s about taking the first step and asking for some help and guidance. That makes all the difference.”
When considering how to take money out of a business, note that a director of a limited company can also be an employee. This makes sense if the company is a ‘for profit’ trading company and the director is doing a day job, full or part time, in the business. If the director has income from other sources, tax advice from a suitably qualified tax adviser should be taken as tax free allowances and the lower tax bands may already have been eaten up by that primary income. In that case it may make sense to make the director a shareholder so they can benefit from dividend payments instead. That can easily be done even if the operator does not want the director to have voting rights. Shares can be issued with different rights added to them or excluded.
That gives flexibility for the operator and allows them to incentivise staff to stay but also commit to the business.
If the business is not a company, it can be a partnership (unregistered - but it is sensible to have a written partnership agreement in place) or an LLP (limited liability partnership which is formally registered with Companies House). Partnerships in Scotland have their own ‘legal personality’ and exists apart from the individual partners, so can employ people too. That means if a director or partner is also an employee, the business must be registered as an employer and use Pay As You Earn (PAYE) to pay the partners and directors, as with other employees.
When using PAYE to pay yourself as a director consider the following:
• Tax-free Personal Allowance: The first £12,570 paid to an individual is tax-free for the 2024/25 tax year;
• Wages are a tax-deductible business expense, so the company won’t pay Corporation Tax on salaries;
Salary amount: salary should be proportional to the size of the company and the role within it.
DIVIDEND AND MEMBER PAYMENTS:
If a company has sufficient profit after accounting for all business costs and taxes, director shareholders can be paid a dividend on top of a director’s salary. The percentage of company profits a shareholder is entitled to depends on the shareholding. For example, if 50% of the company’s shares, the entitlement is up to 50% of the profits.
How dividends are issued depends on the rules and restrictions set out in the company’s articles of association. Operators should check the articles in the first instance. If in a partnership, this will be governed by the constitution (if an LLP) or the partnership agreement (if there is one, in a general partnership).
INTERIM DIVIDENDS:
In general, the directors will declare (approve) ‘interim dividends’ at a board meeting or by passing a written board resolution. Interim dividends are those paid throughout the financial year, usually on a monthly or quarterly basis. The procedure is usually different for final dividends, which are those issued at the end of the financial year after the annual accounts have been approved. Normally, directors recommend the final dividends. These are often issued over and above interim dividends and are the point at which any shareholders whose dividend relies on the company having made a specific target profit or as an alternative to bonus payments will receive their dividends.
There must be enough money to pay the dividends. ‘Unlawful dividends’ are where money is taken from a limited company when there are insufficient profits to cover this. Shareholders in receipt of an unlawful dividend may be asked to repay this money to the company if they were aware the company could not afford to make this distribution. This can include the correct paperwork and evidence not being retained.
RECORDING AND TRANSPARENCY:
Shareholders declare the dividends by passing an Ordinary Resolution at a general meeting or by written resolution. It is where these resolutions and formal processes are not followed that issues occur and that is where Joanna can help. Joanna’s view is: “If a company decides to pay dividends and has the funds to do so, this process can still cause issues if not properly documented. If the company later becomes insolvent, if it wants to sell or needs investment (investors or buyers will want to know decisions have not only been made but are transparent and properly recorded) or if the company is applying for any grants, loans or awards there can often be a fairly rigorous due diligence process. Being able to show proper records can help smooth all of these processes. There is also an obligation on directors to ensure that decisions are properly taken and recorded. In a recent case, the courts were very critical of badly drafted minutes and records, or indeed having none at all.”
DIRECTORS AND PERSONAL LIABILITY:
Proper records and transparent decision making protects directors who could find themselves personally liable for debts and liabilities otherwise. ‘Misfeasance’ is a claim against a company director for breaching their fiduciary duty (their responsibilities) including to act in the company’s best interests. Misfeasance claims can be brought by liquidators against Directors personally, incurring the liability and costs personably which no director wants, and can result in a director being disqualified by the Insolvency Service.
• Misapplication of company assets: A director transfers company assets to themselves or a third party, such as selling company property to a family member at a low price
• Incorrect preference payments: A director pays specific creditors without proper justification, especially if they are friends, associates, or entities where the director has a personal interest
• Failure to monitor the company’s financial situation: A director doesn’t monitor the company’s finances or take action to address problems
Wrongful trading: A company continues to trade even though it’s aware of imminent insolvency
• Failure to maintain proper accounts: A director keeps financial records in an improper or negligent manner The Litigation funding market and solicitors being prepared to sign Conditional Fee Agreements on a nowin no fee basis has increased the level of Liquidator actions against Directors who might previously have defended their position with an action not being pursued due to a lack of funding. Such decisions are less likely with Directors being faced with attempting to settle or facing the potential of a lengthy court process and the associated costs of defence.
In future articles we will look at taking a director’s loan and how to award employees, but if there are subjects you would like us to cover, or to discuss your business in confidence, contact George Lafferty, McLaren Insolvency Practitioners Ltd, 250 West George Street Glasgow G2 4QY; tel: 020 3746 8897; email: george.lafferty@mclarenglasgow.co.uk
GLASGOW’S 2024 CHRISTMAS LIGHTS SWITCH-ON
On Sunday 17 November, Glasgow’s Christmas lights switch-on joyfully marked the start of the festive season for many.
Entry gates to George Square, in Cochrane Street and George Street, opened to ticket holders at 5pm before musical acts and theatre stars made everyone smile with an evening of lively performances.
The event was hosted by Clyde 1 presenters George Bowie and Cassi Gillespie, started at 5.30pm when On Repeat – an uplifting girl group tribute band – took to the stage. Guaranteed to get the party started, they kickstarted a wonderful occasion with their rendition of recent chart toppers.
The merriment continued – oh yes it did – with an appearance by the Pavilion Theatre’s Beauty and the Beastie panto stars, and the wonderful Soul Nation Choir who filled the Square with song.
Ahead of the big switch on at 7pm, Scottish singer-songwriting sensation Nathan Evans took to the stage with musical duo SAINT PHNX in an exciting collaboration. The artist rose to fame when his catchy sea shanty Wellerman went viral in 2020. Nathan Evans and SAINT PHNX have recently been seen in sold-out shows in Glasgow and London.
The crowd can look forward to an energetic, fresh folk-pop sound, which blends Nathan Evans’ storytelling with the Glasgow-based brothers Stevie and Alan Jukes, pop/rockinfluenced melodies. Their newest release ‘Home’ will form part of the set.
The 10,600 people who secured free tickets in this year’s ballot
were asked to dress appropriately for the conditions. With Glasgow’s Christmas lights switch-on drawing thousands of visitors to the city centre, road closures and parking restrictions were in place.
Glasgow’s Lord Provost, Jacqueline McLaren, said: “The Christmas lights switch-on is a highlight in Glasgow’s cultural calendar. The entertainment at this year’s event is certain to lift the spirit, get us singing and make us smile. Then, when the lights burst on, we know Christmas is on its way.
“The occasion brings communities from across Glasgow together for a magical evening of festive joy. And it is only the start of a holiday season that offers a multitude of activities for everyone, from the Winterfests at George Square and St Enoch Square to the beloved annual Santa Dash and Style Mile Carnival.”
George Bowie added: “It always feels so special to host Glasgow’s Christmas lights switch-on and this year is no different with a brilliant line-up of acts to entertain the 10,000-strong festive crowd. I can’t wait.”
Bowie@Breakfast co-host Cassi Gillespie said: “I love Glasgow’s Christmas lights switch-on every year. That is when I feel the countdown to Christmas really starts and with all the activities and performances we have planned this year in George Square, it will be impossible not to feel festive!”
ENERGY MARKET VOLATILITY INCREASES FOR FESTIVE PERIOD
Acombination of factors has driven a significant spike in energy prices mid-November.
1. Colder Temperatures Across Northern Europe
A substantial drop in temperatures is expected to accelerate the depletion of gas reserves, increasing pressure on supply levels as winter sets in.
2. OMV and Gazprom Dispute
Austrian gas supplier OMV has secured a €230 million award against Gazprom over supply interruptions in 2022. OMV has announced that it will withhold payment for current gas supplies to recover the awarded amount. This move has raised concerns about potential disruptions to gas supplies for Central European states, particularly as colder weather heightens demand.
As is the case when gas supplies are more directly impacted by events than electricity, gas commodity costs are pulling away. It has been the case that in recent months electricity contract costs have edged down while gas rates have increased.
Cost Outlook
In the current circumstances, both will rise and gas more quickly. Therefore, anyone currently in renewal is recommended to consider renewing on the current rates, as any further delay may mean fixing when prices are significantly higher.
Mark McCormack, Nationwide Energy’s Scottish consultant can explain the key features of different supplier contracts alongside a market review, and updates on available prices. He can also support any operators struggling to pay current rates or are at risk of default.
NI WHOLESALER SET TO REVOLUTIONISE CUSTOMER EXPERIENCE
Recognising time pressure as a key challenge for its customers, Coleraine-based wholesaler Lynas Foodservice is revolutionising how customers can place orders to ensure it is faster and more accurate than ever before.
“We know our customers are all struggling with time so we are launching Order Your Way with one goal – to make our customers’ lives easier,” said Andrew Lynas, group managing director, Lynas Foodservice.
“We know how every minute counts in a busy kitchen and business and with Order Your Way, customers can order how they want, when they want, 24 hours a day, 7 days a week. Customers can choose how and when to send their order. This could be by email or a WhatsApp message. They can send us a photo of a handwritten list on a notepad or the whiteboard in the kitchen. They can send us an Excel file, Word document, note or pdf – we will even be taking orders by WhatsApp voicenote in the coming months! And, of course, orders can also be placed on the website or by talking to our sales team on the telephone and on a dedicated app. It’s about what works best for the customer and crucially, saves them valuable time.”
Lynas Foodservice is working with specialist platform Choco AI to utilise artificial intelligence behind the scenes to streamline order processes to ensure accuracy and drive time efficiency.
It transforms all emails, messages, images and voicemails into integrated orders, capturing and processing in real time into the Lynas ERP.
Andrew continued: “This is a simple but substantial move for us to both evolve our offer and our customer service, but also really make a difference to customers day to day. We believe this will drive the whole UK and Ireland foodservice sector forward.”
Based in Coleraine, Northern Ireland, Lynas Foodservice was established more than 70 years ago. Still run by the same family, the wholesaler is now the largest family-operated foodservice company in Ireland and has now expanded into Scotland.
Lynas supplies more than 5,000 customers across UK and Ireland with more than 5,000 essential catering products. The family-operated company employs more than 700 staff, all passionate about delivering the best quality products and the best service, which is reflected with the launch of Order Your Way.
Since our humble beginnings nearly 70 years ago when the Company was founded by Bobby Lynas, Lynas Foodservice has been dedicated to one word, Service.
The aim is simple, to serve our customer with the best product and the best service we can provide.
We deliver to over 5,000 independant and chain customers every week throughout Ireland and Scotland. Our customers come from right across the catering spectrum so with our extensive range we will have the right product to suit your needs and your business.
Contact us today to find out more and arrange a visit with one of our experienced team.
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