KIRKLEES BUSINESS NEWS The business NEWS paper for Kirklees 23, April, 2013 INSIDE ● Full story - Page 8 Capital considerations Column - Page 4 An EXAMINER publication Excellent vision AN opticians group has won national honours. The Valli Group has been named winner of the Business Excellence category in the Optician Awards 2013. The group, which has six optical practices across Huddersfield and Calderdale, overcame strong competition to win the award, which was presented at a ceremony in Birmingham. Managing director Moin Valli, who founded the business with his wife Rachel, said: “We are absolutely delighted to win the award.” Property landmark A PROPERTY development and rental firm is celebrating 25 years in business. Towndoor Ltd, based at Meltham Mills, is looking forward to the next quarter century with confidence after successfully helping scores of firms to flourish over the years. The firm, which is marking its anniversary by flying special flags near its HQ building, provides commercial and industrial workspace for a wide variety of businesses. COLIN BARRATT examiner.co.uk The most trusted news brand in the business FTSE 100 - 5.97 6280.62 ADELE WHITFIELD Full interview - Page 3 ● Full story - Page 5 Shackletons settles down to more orders DEWSBURY furniture manufac- turer Shackletons is sitting com- fortably after showcasing its products at a key national show. Shackletons took its latest range of comfort furniture to the Bournemouth Care Show – and returned with a clutch of enquiries to herald a promising start to the financial year. Jason Bloom, national Sales manager, said: “There is no doubt we are operating in a challenging market, but the trend in our busi- ness has seen a sales increase of 40% this financial year with the Bournemouth Care Show indicat- ing we are on track to continue at this rate of growth.” He said care sector buyers were particularly interested in Shack- letons’ “absolute understanding and experience of what it takes to manufacture home-from-home furniture that is designed not just for older people but dementia suf- ferers, too”. He said: “Without comprom- ising on style or design, our per- son-centred approach is a winning formula when it comes to care homes looking to achieve a better quality of life for their residents. “Care home operators recognise quality of care is linked to better design within the care home envir- onment and we manufacture our fit-for-purpose furniture with those needs in mind.” Said Mr Bloom: “Although it is deemed as a challenging time for manufacturing, the care show illustrated there is demand for quality designed and manufac- tured furniture.” Shackletons has been making specialist furniture for more than 50 years and employs 65 people at its manufacturing and operations site on Weaving Lane, Dewsbury. It also has a retail site at Brad- ford Road in Batley. The company’s products include chairs, occasional chairs, dining sets, tables, beds and bedroom and dining cabinets. ■ TOP TEAM: Shackletons sales managers (from left) Lisa Gibbons, Jason Bloom, Sarah Thompson and Amanda Wells Boss sets out late pay woes to MPs A CONSTRUCTION company boss has taken his campaign against the “unscrupulous” payment practices of some major contractors to Parlia- ment. And he warned that the UK’s eco- nomic prospects were being harmed by payment policies which put the viabil- ity of small and medium-sized suppli- ers at risk. Steven Sutherland, chairman of Huddersfield-based glazing specialist Dortech yesterday gave evidence to an all-Party group of MPs at Westminster looking into issues of late payment. Mr Sutherland hit the headlines last December by “boycotting” one of Dortech’s biggest customers – and sacrificing millions of pounds in potential orders – in protest at pay- ment policies he says risk putting suppliers out of business. He was invited by Debbie Abra- hams, Labour MP for Oldham East and Saddleworth, to give evidence to the MPs on the problems facing sup- pliers when contractors failed to pay promptly or invoked “withholding” notices which can delay payments almost indefinitely. Mr Sutherland was joined by repres- entatives of other construction busi- nesses in giving evidence to the panel, which also heard from representatives of major contractors. Mr Sutherland outlined the scale of late payment and the impact it was having on firms such as Dortech, which has about 50 employees, as well as the effects of the Prompt Payment Code, which contractors are encour- aged to endorse. He said: “The big issue for me is that every £1 of taxpayers’ money the gov- ernment puts into construction gener- ates £2.80 for the UK economy – but if that money isn’t getting past the main contractors we will not see that growth. “You can only stimulate the eco- nomy if the main contractors on pro- jects release their funds to the supply chain. In some cases, particularly among the bigger contractors, that has not been happening. “The effects are becoming visible in the marketplace. Companies are going bust because they cannot afford to invest in jobs and training – and the calibre and quality of the buildings going up are shockingly poor because if firms cannot get cashflow, they are making cuts.” Mr Sutherland said the problem also affected public sector contracts, where Government agencies were sup- posed to adhere to the Prompt Pay- ment Code. He told MPs how withholding notices – intended to be used by con- struction contractors where there is a disagreement over the valuation of a sub-contractor’s work – were being used by some contractors as a way to reduce the value of bills and delay payment regardless of the quality of the work or pricing. Mr Sutherland stressed: “There are some very good contractors – other- wise we would have shut up shop. But if they have to complete with compan- ies that behave unscrupulously, how long will it be before they have to follow suit?” Mr Sutherland, who has previously raised the issue with the Department for Business Innovation and Skills, said the solution to the problem lay with government. He called for a system to monitor payment policies by contractors and exclude those not paying promptly from being considered for government contracts. Dortech has 20 years experience as a specialist glazing contractor – having manufactured more than £130m of windows, doors and curtain walling for schemes including schools, factor- ies, offices and buildings at Hudders- field University’s Queensgate campus. ■ PAY PROBE: Oldham East and Saddleworth MP Debbie Abrahams heard evidence on late payment issues from Dortech chairman Steven Sutherland Scaling the career ladder
Transcript
KIRKLEES BUSINESS NEWSThe business NEWSpaper for Kir k lees23, Apr i l , 2013
INSIDE
● Full story - Page 8
Capita l cons iderat ionsCo lumn - Page 4
An EXAMINER publication
ExcellentvisionAN opticians grouphas won nationalhonours. The ValliGroup has been namedwinner of the BusinessExcellence category inthe Optician Awards2013. The group, whichhas six opticalpractices acrossHuddersfield andCalderdale, overcamestrong competition towin the award, whichwas presented at aceremony inBirmingham. Managingdirector Moin Valli, whofounded the businesswith his wife Rachel,said: “We areabsolutely delighted towin the award.”
PropertylandmarkA PROPERTYdevelopment and rentalfirm is celebrating 25years in business.Towndoor Ltd, based atMeltham Mills, islooking forward to thenext quarter centurywith confidence aftersuccessfully helpingscores of firms toflourish over the years.The firm, which ismarking its anniversaryby flying special flagsnear its HQ building,provides commercialand industrialworkspace for a widevariety of businesses.
COLIN BARRATT
exam
iner
.co.
uk Themosttrustednewsbrandin thebusiness
FTSE 100- 5 .976280.62
ADELE WHITFIELD
Fu l l i n te r v i ew - Page 3
● Full story - Page 5
Shackletons settles down to more ordersDEWSBURY furniture manufac-turer Shackletons is sitting com-fortably after showcasing itsproducts at a key national show.
Shackletons took its latest rangeof comfort furniture to theBournemouth Care Show – andreturned with a clutch of enquiriesto herald a promising start to thefinancial year.
Jason Bloom, national Salesmanager, said: “There is no doubtwe are operating in a challengingmarket, but the trend in our busi-ness has seen a sales increase of40% this financial year with theBournemouth Care Show indicat-ing we are on track to continue atthis rate of growth.”
He said care sector buyers wereparticularly interested in Shack-letons’ “absolute understandingand experience of what it takes tomanufacture home-from-homefurniture that is designed not justfor older people but dementia suf-ferers, too”.
He said: “Without comprom-ising on style or design, our per-son-centred approach is a winningformula when it comes to carehomes looking to achieve a betterquality of life for their residents.
“Care home operators recognisequality of care is linked to betterdesign within the care home envir-onment and we manufacture ourfit-for-purpose furniture with
those needs in mind.”Said Mr Bloom: “Although it is
deemed as a challenging time formanufacturing, the care showillustrated there is demand forquality designed and manufac-tured furniture.”
Shackletons has been makingspecialist furniture for more than50 years and employs 65 people atits manufacturing and operationssite on Weaving Lane, Dewsbury.
It also has a retail site at Brad-ford Road in Batley.
The company’s products includechairs, occasional chairs, diningsets, tables, beds and bedroom anddining cabinets.
■ TOP TEAM: Shackletons sales managers(from left) Lisa Gibbons, Jason Bloom, SarahThompson and Amanda Wells
Boss sets out latepay woes to MPsA CONSTRUCTION company bosshas taken his campaign against the“unscrupulous” payment practices ofsome major contractors to Parlia-ment.
And he warned that the UK’s eco-nomic prospects were being harmed bypayment policies which put the viabil-ity of small and medium-sized suppli-ers at risk.
Steven Sutherland, chairman ofHuddersfield-based glazing specialistDortech yesterday gave evidence to anall-Party group of MPs at Westminsterlooking into issues of late payment.
Mr Sutherland hit the headlines lastDecember by “boycotting” one ofDortech’s biggest customers – andsacrificing millions of pounds inpotential orders – in protest at pay-ment policies he says risk puttingsuppliers out of business.
He was invited by Debbie Abra-hams, Labour MP for Oldham Eastand Saddleworth, to give evidence tothe MPs on the problems facing sup-pliers when contractors failed to paypromptly or invoked “withholding”notices which can delay paymentsalmost indefinitely.
Mr Sutherland was joined by repres-entatives of other construction busi-nesses in giving evidence to the panel,which also heard from representativesof major contractors.
Mr Sutherland outlined the scale oflate payment and the impact it was
having on firms such as Dortech,which has about 50 employees, as wellas the effects of the Prompt PaymentCode, which contractors are encour-aged to endorse.
He said: “The big issue for me is thatevery £1 of taxpayers’ money the gov-ernment puts into construction gener-ates £2.80 for the UK economy – but ifthat money isn’t getting past the maincontractors we will not see thatgrowth.
“You can only stimulate the eco-nomy if the main contractors on pro-
jects release their funds to the supplychain. In some cases, particularlyamong the bigger contractors, that hasnot been happening.
“The effects are becoming visible inthe marketplace. Companies are goingbust because they cannot afford toinvest in jobs and training – and thecalibre and quality of the buildingsgoing up are shockingly poor becauseif firms cannot get cashflow, they aremaking cuts.”
Mr Sutherland said the problemalso affected public sector contracts,
where Government agencies were sup-posed to adhere to the Prompt Pay-ment Code.
He told MPs how withholdingnotices – intended to be used by con-struction contractors where there is adisagreement over the valuation of asub-contractor’s work – were beingused by some contractors as a way toreduce the value of bills and delaypayment regardless of the quality ofthe work or pricing.
Mr Sutherland stressed: “There aresome very good contractors – other-wise we would have shut up shop. Butif they have to complete with compan-ies that behave unscrupulously, howlong will it be before they have tofollow suit?”
Mr Sutherland, who has previouslyraised the issue with the Departmentfor Business Innovation and Skills,said the solution to the problem laywith government.
He called for a system to monitorpayment policies by contractors andexclude those not paying promptlyfrom being considered for governmentcontracts.
Dortech has 20 years experience as aspecialist glazing contractor – havingmanufactured more than £130m ofwindows, doors and curtain wallingfor schemes including schools, factor-ies, offices and buildings at Hudders-field University’s Queensgate campus.
■ PAY PROBE: Oldham East and Saddleworth MP Debbie Abrahams heardevidence on late payment issues from Dortech chairman Steven Sutherland
Scaling the career ladder
KIRKLEES BUSINESS NEWS national Page 2
SANDWICH chain Pret AManger has pledged tocreate at least 500 UKjobs this year after itsexpansion drive helpedannual sales leap by13% to £443m.
The company will hireabout 1,000 staffworldwide in 2013 as itlooks to expand itsportfolio of 323 stores by50 – with half of the newshops being pencilled infor the UK.
About 15 of the storeswill be based in London,with Leicester andPeterborough amongother towns underconsideration for theremaining 10.
Pret said its new UKjobs will be supported byextending its employmentprogramme for schoolleavers in September. Ithas so far hired nineschool leavers under thisscheme.
The sandwich chainhas 256 stores in the UK,where it has opened 19in the past year.
New jobspledge
GardenbloomsTHE maker offly-on-the-walldocumentaries including24 Hours In A&E andInside Claridge’s hasbeen snapped up by ITVfor at least £18m.
ITV’s deal forindependent producerThe Garden, which isbased in London, triggersa windfall for its foundersNick Curwin and MagnusTemple, who set it up thebusiness in 2010. Bothwill stay with thecompany.
Cable unveils newcode for ‘pubcos’THE Government has unveiled movesto help pubs struggling to pay rent orbeer prices – with the aim of savingthem thousands of pounds a year andstemming closures.
Ministers announced plans for a newcode of practice and the backing of a“powerful” adjudicator following com-plaints about a so-called “beer tie”under which landlords have to buysupplies from the companies whichown pubs, often at high prices.
The code would contain mandatoryrules for all companies owning morethan 500 pubs and would aim to stopabuses of the beer tie, which has beenpartly blamed for pub closures.
Under the proposals, the adjudicatorwould have the power to enforce thecode and deal with disputes throughsanctions and fines.
Business Secretary Vince Cable said:“We gave pub companies every chanceto get their house in order – but despite
four select committee reports overalmost a decade highlighting the prob-lems faced by publicans, it is clear thevoluntary approach isn’t working.
“Pubs are small businesses under agreat deal of pressure, many of whichhave had to close. Much of that pres-sure has come from the powerful pubcompanies and our plans are designedto re-balance this relationship.
“Pubs play a valuable role at theheart of our communities and weurgently need a change to help themsurvive and become profitable. Theseplans will do just that and could savepub tenants £100m per year by makingsure that pub companies charge theirtenants fair rents and beer prices.”
Mr Cable said: “It has been a hugeconcern of mine that pubs, often thehub of our communities, are closingdown at an alarming rate. What is alsoshocking is that the figures show thatalmost half of tied pubs earn less than
£15,000 a year and struggle to makeends meet because of rising beer pricesand rent.
“I have heard about a variety ofunfair practices such as large unjusti-fied increases in rent, and am clear thatthis sort of behaviour is not goodenough.
“These proposals will put a fairersystem in place and will make sure that
tied pubs are no worse off thanfree-of-tie pubs.”
Dave Mountford, of the GMBunion, said: “The test for tied tenants iswhether this code is drafted in such away that it will bring down rents to thesame level as free-of-tie pubs.
“GMB want to ensure that pubcosare not allowed to put up rents by thebackdoor by overcharging for productstenants are tied to buy from them.”
A Punch Taverns spokesman said:“We will be looking at the contents oftoday’s announcement in detail, but weremain confused by the Government’sattitude to pubs.
“This year’s Budget providedmuch-needed support to Britain’s pubs,but the Government is now proposing astate-backed pubs quango.
“A founding commitment of theCoalition was to reduce regulation, butministers now seem intent on wrappingBritain’s pubs in red tape.”
Betfair rejects approachGAMBLING website Betfair backedits “unique” business and prospectsafter rejecting a takeover approachworth £910m.
The bid proposal from CVC Cap-ital Partners, the buy-out groupbehind Formula 1 motor racing, wasrejected by Betfair on valuationgrounds.
CVC disclosed last week that it hasheld talks with other investors, includ-ing existing Betfair shareholder andentrepreneur Richard Koch, about apossible joint approach for the onlinebetting exchange.
The subsequent proposal fromCVC valued the company’s shares at
880p, compared with the 1300p seenon its stock market debut in 2010.
Betfair says it is going through oneof the “most exciting phases in itsdevelopment”, thanks to a newstrategy revealed in December and theappointment of a new managementteam led by chief executive BreonCorcoran.
Chairman Gerald Corbett said:“We have a unique business with amarket position, profitability, cashflow and prospects that this proposalfails to recognise.”
Betfair’s betting exchange works bymatching punters and allowing themto bet against each other.
Cold comfort for Reckitt salesCONSUMER goods group ReckittBenckiser reported a strong start to2013 after a heavy flu and coldsseason boosted demand for Strep-sils and Nurofen.
The group, which owns brandsincluding Harpic, Dettol and Durex,also made big strides in its rap-idly-expanding markets of India,Brazil and China – driving a 6% risein underlying revenues for the firstthree months of the year.
Total revenues improved by 7% to£2.5bn and Reckitt said it is confid-ent of achieving 5% to 6% growth forthe year despite “continued challen-ging market conditions”.
Reckitt benefited from a spate of
flu and colds in the US, with suc-cessful launches of new productssuch as Strepsils lozenges for chil-dren and Nurofen heat patches.
Other innovat ions such asMucinex Fast Max and Sinus Maxdecongestants drove growth in theUS, helping its European and NorthAmerican division increase underly-ing sales by 3% amid sluggish con-sumer spending.
Its Latin America and Asia Pacificregion was the star performer onceagain, with growth of 11%.
Reckit t , competing againstnewly-introduced generic products,lifted underlying sales by 7% in Rus-sia, the Middle East and Africa.
■ LAST DROP: Pubs are closing atan alarming rate, says Vince Cable
KIRKLEES BUSINESS NEWS profile Page 3
AdeleWhitfield
EatonSmith
HENRYK ZIENTEK
Role: PartnerAge: 40Family: Partner Andrew andchildren Harvey, 10, andOlivia, sevenCar: Toyota VersoHolidays: Family holidays inCornwallFirst job: Working as a wait-ress at the Kaye Arms,Grange MoorBest thing about job:Meeting new people andhelping them on the journeyfrom start to finish and seeingthem make progressWorst thing about job:Time-consuming administrat-ive procedures that you haveto complete before you canget on and do the job!Business tip: Listen to yourclients. Hear what they haveto say then give them youropinion
IT’S never easy getting tothe top of your profession.
But Adele Whitfield hasworked particularly hard toforge a successful careerin the law.
The Highburton motherof two joined Huddersfieldsolicitors as a secretary –but progressed throughhard work anddetermination to becomefirst a legal executive andthen an associate. Nowshe is the firm’s newestpartner.
Adele, who hails fromFenay Bridge, attendedKing James’ Schoolbefore taking her A-levelsat Greenhead College.While she was keen on acareer in the law, sheadmits that lack ofconfidence held her backto some extent.
She says: “I alwayswanted to do something inthe law, but it was one ofthose situations where Inever felt I would be goodenough to be a solicitor.
“I took my A-levels anddecided to join up with theInstitute of LegalExecutives.
“I did a one-yearfull-time course at acollege in Sheffield. Tocomplete the course, I hadto work in a solicitors’office.
“I couldn’t get a job as atrainee legal executive atthat time, but my dadknew DavidBlakeborough, one of thepartners at Eaton Smithand I went for a week’swork experience.
“When a secretarialposition became available,I was offered it.”
Adele found herselfworking for partner JudithSchofield, who decidedthat Adele would be betterassisting her in afee-earning capacity.Adele qualified as a fellowof the Institute of LegalExecutives in 2001.
Later, Adele decided toundertake a conversioncourse to finally realiseher ambition by qualifyingas a solicitor.
“I had two youngchildren by that time, so itwas quite hard work,” shesays. “I still had my job todo during the day, whichmeant studying at home inthe evenings.”
Adele qualified in 2007and was made anassociate in 2009 beforebeing appointed a partnerthis year.
“I found the examsmuch easier doing theconversion coursebecause I had been in alegal environment for solong,” she says.
Adele specialises inpersonal injury workalongside Judith Schofieldand department headAnne Pendlebury.
Says Adele: “Youimagine doing the excitingthings like criminal orfamily law – somethingthat has a bit of glamourto it!
“But I have always beeninterested in medicalmatters. Now I’m so gladthat I chose personalinjury work. It is such a
rewarding aspect of thejob to be able to helppeople.
“It is not just aboutgetting peoplecompensation. The mostimportant thing is that youare helping people alongthe way.”
Adele understandspublic cynicism aboutsome organisationsoperating in the sphere ofpersonal injury, but says:“For many people,sustaining a serious injurycan be life-changing. It isall about helping them getthe treatment they needfor their injuries and the
interim payments to helpthem pay their bills.
“Some people seem tothink PI lawyers are onlyinterested in the money.Unlike a lot of ‘factoryfirms’ we aim to give apersonal service.
“People who have beeninjured ring up the claimscompanies advertising ontelevision, but they couldcontact a local firm ofsolicitors to see someoneface-to-face.”
Eaton Smith has set upa new personal injury“shop” – YES PI – toprovide a more visiblepresence on the high
street.“The idea is that people
can see we are there,”says Adele, who workedwith Anne Pendlebury toset up the premises nextdoor to Eaton Smith’sexisting High Streetoffices.
“People can see we arethere. They may not needus now, but they might inthe future.”
Adele is now involved inmarketing YES PI, a“sideline” that she enjoys.“It is something completelydifferent,” she says. “Ihave been involved inareas such as websitedevelopment. It’sinteresting to look atdifferent ways ofexpanding brandawareness.”
Adele’s role as a PIlawyer covers everythingfrom trips and slips to roadaccidents and workplaceincidents.
The size of the caseloadcan reflect wider trends. “Afew years ago, when theeconomy was taking adownturn, there was a bitof a lull in employmentclaims. People did notwant to rock the boat atwork because they werefrightened of losing theirjobs,” says Adele.“However, claims areslowly creeping up again.”
Adele takes particularinterest in chronic paincases, saying: “Whenpeople have been injured,they don’t always recoverand they remain in pain.They never really getbetter and in those cases,it is all about how tomanage the pain.
”We work withrehabilitation providersand others in terms oftreatment.”
She says: “We try tothink about how the clientsfeel in their situation andthat helps us empathisemore with that they aregoing through.”
Adele says EatonSmith’s reputation has ledto it gaining clients as farafield as London andBrighton, saying: “I don’teven see some of ourclients. We do businessover the telephone. Peoplein London particularly areused to doing everythingover the phone and neverseeing anyone in apersonal capacity.
“Of course, we want ourlocal clients to come andsee us – or we can go tosee them! You get a betterfeel for how an injury caneffect their lives if you cansee things for yourself.”
Adele, 40, says sheenjoys spending time withher children, Harvey, 10,and seven-year-old Olivia.“I work full-time, so wespend quality timetogether at weekends,”she says. “I enjoy takingthem to and from theirvarious activities. I enjoygoing to the cinema and Ilove cooking. I am alwaystrying out new recipes.”
She remains grateful forthe opportunity that cameher way when she took upthe offer of a week’s workexperience at EatonSmith. “It’s a fantastic firmto work for,” says Adele.“They have given me somuch support and somany opportunitiesthroughout my time here. Icouldn’t have asked foranything more. I havebeen very lucky in thatsense.”
■ AMBITIONS: Adele Whitfield, of Eaton Smith,always wanted to pursue a career involving the law
LOOKING TO BUY OR SELL A BUSINESS?Use our knowledge and experienceto guide you through the process:
➢ Valuation advice
➢ Negotiating the deal
➢ Raising finance
➢ Due diligence
➢ Tax mitigation ideas
➢ Getting the job done
Our independent and partner-drivenapproach ensures clients receiveadvice they can rely on and trust.
To discuss your plans in confidence pleasecontact David Butterworth
Colin Barratt is tax partner at Wheawill and Sudworth chartered accountants, Huddersfield
Karen Wynard is head of corporate services at Eastwood &Partners (Financial Services) Ltd
FINANCIALFOCUSKaren Wynard
Absent friends?
Tackling the issues about tax relief
ONE of the main issues surroundingthe sale of a business is the amount
of Capital Gains Tax payable on its dis-posal.
Generally, gains are subject to CGT at 18%or 28% depending on whether the individual isa basic or higher rate taxpayer.
But for qualifying gains, Entrepreneurs’Relief is available which taxes these gains at alower rate of 10%. For disposals made on orafter April 6, 2011, this rate is applicable togains up to a total of £10m.
Qualifying gains include the disposal of thewhole or part of a business carried on by anindividual or partnership member or shares inan unquoted trading company.
In the vast majority of cases, most saleablebusinesses are carried on via a limited com-pany and Entrepreneurs’ Relief will be avail-able on the sale of the shares in an individual’spersonal company, if throughout a period of12 months prior to the disposal the companycarried on a qualifying trade and the indi-vidual owned at least 5% of the ordinary sharecapital and voting rights and they were anofficer or employee of the company. Problemscan arise where, for instance, the exercise ofshare options dilutes a shareholding below the5% limit. Where practical, action needs to betaken for those directors/employees affectedto ensure that they have this minimum share-holding 12 months before disposal.
In the case of husband and wife sharehold-ers this could be achieved by transferringordinary shares to the minority shareholding
spouse giving them the required 5%.Such inter-spouse transfers are exempt from
CGT.For shareholders letting property to their
personal trading company or a partner to atrading partnership, Entrepreneurs’ Relief isrestricted to the extent that any rent is paid.
This restriction applies for those in receiptof rent on or after April 6, 2008.
Consideration needs to be given as towhether rents should cease in order to securesome measure of Entrepreneurs’ Relief againstthe individual’s need for rental income to payinterest on any mortgage taken out to buy theproperty.
The entitlement to Entrepreneurs’ Reliefcould also be jeopardised if a trading companyholds substantial investment assets or under-takes substantial non business activities.
Consideration and timely planning needs tobe given to demerging non-businessassets/activities in order to protect the com-pany’s status as a trading company.
If Entrepreneurs’ Relief is not secured andgains on the disposal of the shares are taxed atrates applying to non-business assets thepotential loss of tax could be as high as £1.8m(£10,000,000 x 28-10%), possibly rising to£3.6m for husband and wife shareholders.
The current rate of Entrepreneurs’ Reliefremains valuable in mitigating a businessowner’s CGT liability and proactive steps mayneed to be taken at least 12 months before thebusiness is sold to secure the relief.
LIVING and working longer – yourstaff are at the heart of your busi-
ness, offering valuable resources andexpertise.
But people today are three times more likelyto suffer a long-term absence than die duringtheir working lives, while one in five willdevelop a long-standing illness before theyretire. This makes dealing with long-termillness and injury, and incurring the associatedcosts, a very real prospect for employers.
The true cost of absence is more than youmight think. Unplanned absence costs UKbusinesses up to 16% of payroll. Absencedrives risk in your business – it is volatile andcould cause legal problems if handled incor-rectly. And 19% of employers say managingsickness absence has a considerable effect onother duties.
Employees are also often under-prepared indealing with the financial difficulties that mayoccur as a result of long-term illness or injury,with most believing that the State or theiremployer will provide in times of need.
However, the truth can be very different.While the State provides a welcome safety
net, it only goes so far and usually falls wellbelow the average UK salary. Once companysick pay ends, the average family’s savings willgenerally last for less than two months. Receiv-ing little or no income for a prolonged periodcan also have implications on their long-term
wealth.Individuals, for example, may be unable to
contribute sufficiently towards their retire-ment, therefore the impact of being unable towork due to injury or illness during the courseof their working life may be felt later in life.
Group Income Protection is one solution tothe potential problems faced by both employ-ers and employees arising from long-termabsence. This not only provides a valuablefinancial lifeline for your staff if they areunable to work, but can also help to protectyour business from the financial impact anduncertainty of prolonged staff absence asfollows – by enabling you to monitor the costof absence in your business, by enabling you toassess the return on your benefits spend and asthis is a visible and valuable employee benefit,it can help you to recruit and retain staff.
Due to the inclusion of return to work
planning, absence management support andother assistance tools within the policiesoffered by many leading providers, these canhelp reduce the time you need to spend inaddressing long-term absence and leave youfree to focus on running your business.
Each provider appreciates there is no “onesize fits all” solution to absence management,therefore a Group Income Protection Schemecan be tailored to meet your specific needs.This ensures that you rather than the insurerdetermine the level of benefits payable, theperiod of time the employee needs to be absentbefore any benefit is payable and how long youwish for the benefit to be payable.
We will be holding a seminar on Thursday,May 16, at our Elland office where we plan toaddress the issues raised in this article infurther detail.
Call for entriesKIRKLEES firms using IT in innovativeways have been urged to enter a nationalcompetition.The 2013 BCS and Computing UK ITIndustry Awards is open for entries –and this year includes a new categoryfor the most outstanding use of IT in thegames, television, film, music or othercreative industry.The annual awards showcase andcelebrate best practice, innovation andexcellence in the IT sector. Entrants canbe organisations or individuals involvedin IT across the public, not-for-profit andcommercial sectors. In total, there are 25categories focusing on the contributionof individuals, projects, organisationsand technologies.Go to www.bcs.org/industryawards
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KIRKLEES BUSINESS NEWS property Page 5
Celebrating 25 successful yearsA PROPERTY development and rental com-pany is celebrating 25 years in business – andTowndoor Ltd, based at Meltham Mills, islooking forward to the next quarter centurywith confidence after helping scores of firms toflourish over the years.
The firm, which is marking its anniversary byflying special flags near its headquarters build-ing, provides commercial and industrial work-space for a wide variety of businesses.
It has a property portfolio comprising morethan 40 acres of land and more than 80 office,warehouse and workshop units togetherproviding in excess of 1m sq ft of floorspace.
The privately-owned and family-run firmwas founded in 1988 by Stuart and LucyBamforth – after the Bamforth group’s dis-mantling division was engaged to remove theformer David Brown Tractors assembly plantat Meltham Mills for then owner J I CaseLtd.
Half of the factory was sold to Bamforth inthe name of Towndoor Ltd – and within fouryears the whole of this huge site had beendeveloped into an industrial estate fully occu-pied by 38 individual companies togetherproviding 400-plus jobs.
A second site was bought at Netherton fromAllied Breweries to be known as CroslandRoad Industrial Estate. It was quickly renov-ated and fully let to nine companies. A third sitewas acquired in 1993, again owned by Case andknown as S Block.
In March, 1999, Towndoor bought an areaof land formerly used for storage and as a scrapyard. Towndoor developed the site – to beknown as Bent Ley Industrial Estate – toprovide four new build units, which werecompleted in 2008 and fully let.
Towndoor operations director Dan Bam-forth said the key to success had been Town-door’s efforts to work in partnership withbusinesses and provide a range of properties tosuit all requirements – from large industrialunits to small lock-ups, garages, yards andoffice suites.
In line with the family’s plans to expand thebusiness, Towndoor is due to take ownership ofa fifth multi-let site near Leeds city centre
within the next few weeks, which will push thetotal number of units nearer 90. New tenants toadd to the company’s already diverse range ofclients include Cartridge Express, a flooringcompany and a cafe.
The company has added to its client list inrecent months.
Online footwear retailer Shoeshoebedo Ltdis taking an 18,032sq ft property at Towndoor’sflagship Meltham Mills site on a six-year leasefrom next month.
In addition, Taylor Computer Solutions Ltdhas leased a 1,300 sq ft unit at Meltham Mills –reflecting a rise in demand for smaller units.
Matthew Taylor, of Taylor Computer Solu-tions, said: “I am a new ‘resident’ at MelthamMills and I have nothing but praise for Dan andhis team. I was very impressed with Town-door’s efficiency and the speed in which theyprogressed my new tenancy.”
Recent developments at Towndoor includethe appointment of Nick Charlton – who has a20-year association with the company and theBamforth family – to a property and architec-tural services role.
Towndoor has also started work on twoluxury apartments and a rooftop garden at aredundant office and former mill at the Cros-land Road site. The proposed development,which follows a change in planning laws and afall in demand for semi-rural office space,includes a 3,000 sq ft Astroturf rooftop terracewhich will command spectacular views across
Magdale.Said Dan: “We are planning quite a few
exciting things for the next 12 to 24 months.”
■ FLYING COLOURS: Dan Bamforth andNick Charlton, of Towndoor Ltd
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T. 01484 530361 www.bramleys.com
4 RANGE LANEHalifax, HX3 6DLFORMER HOSTEL PREMISES395m2 (4,250ft2)Site Area 0.13 Hectares (0.33 Acres)■ Vacant possession■ Suitable for refurbishment foralternative occupational residentialuses or possible completeredevelopment, subject toplanning consent
4 RANGE LANEHalifax, HX3 6DLFORMER HOSTEL PREMISES395m2 (4,250ft2)Site Area 0.13 Hectares (0.33 Acres)■ Vacant possession■ Suitable for refurbishment foralternative occupational residentialuses or possible completeredevelopment, subject toplanning consent
4 RANGE LANEHalifax, HX3 6DLFORMER HOSTEL PREMISES395m2 (4,250ft2)Site Area 0.13 Hectares (0.33 Acres)■ Vacant possession■ Suitable for refurbishment foralternative occupational residentialuses or possible completeredevelopment, subject toplanning consent
4 RANGE LANEHalifax, HX3 6DLFORMER HOSTEL PREMISES395m2 (4,250ft2)Site Area 0.13 Hectares (0.33 Acres)■ Vacant possession■ Suitable for refurbishment foralternative occupational residentialuses or possible completeredevelopment, subject toplanning consent
4 RANGE LANEHalifax, HX3 6DLFORMER HOSTEL PREMISES395m2 (4,250ft2)Site Area 0.13 Hectares (0.33 Acres)■ Vacant possession■ Suitable for refurbishment foralternative occupational residentialuses or possible completeredevelopment, subject toplanning consent
4 RANGE LANEHalifax, HX3 6DLFORMER HOSTEL PREMISES395m2 (4,250ft2)Site Area 0.13 Hectares (0.33 Acres)■ Vacant possession■ Suitable for refurbishment foralternative occupational residentialuses or possible completeredevelopment, subject toplanning consent
4 RANGE LANEHalifax, HX3 6DLFORMER HOSTEL PREMISES395m2 (4,250ft2)Site Area 0.13 Hectares (0.33 Acres)■ Vacant possession■ Suitable for refurbishment foralternative occupational residentialuses or possible completeredevelopment, subject toplanning consent
4 RANGE LANEHalifax, HX3 6DLFORMER HOSTEL PREMISES395m2 (4,250ft2)Site Area 0.13 Hectares (0.33 Acres)■ Vacant possession■ Suitable for refurbishment foralternative occupational residentialuses or possible completeredevelopment, subject toplanning consent
4 RANGE LANEHalifax, HX3 6DLFORMER HOSTEL PREMISES395m2 (4,250ft2)Site Area 0.13 Hectares (0.33 Acres)■ Vacant possession■ Suitable for refurbishment foralternative occupational residentialuses or possible completeredevelopment, subject toplanning consent
4 RANGE LANEHalifax, HX3 6DLFORMER HOSTEL PREMISES395m2 (4,250ft2)Site Area 0.13 Hectares (0.33 Acres)■ Vacant possession■ Suitable for refurbishment foralternative occupational residentialuses or possible completeredevelopment, subject toplanning consent
4 RANGE LANEHalifax, HX3 6DLFORMER HOSTEL PREMISES395m2 (4,250ft2)Site Area 0.13 Hectares (0.33 Acres)■ Vacant possession■ Suitable for refurbishment foralternative occupational residentialuses or possible completeredevelopment, subject toplanning consent
4 RANGE LANEHalifax, HX3 6DLFORMER HOSTEL PREMISES395m2 (4,250ft2)Site Area 0.13 Hectares (0.33 Acres)■ Vacant possession■ Suitable for refurbishment foralternative occupational residentialuses or possible completeredevelopment, subject toplanning consent
■ industrial
■ offices
■ retail
■ investment
■ land
WESTBOURNE ROAD,HUDDERSFIELD,
HD1 4LF£13,500 p/a
● 82.68sqm (890sqft)● Popular suburban location
● Excellent display frontage
● Prominent corner position
● Suitable for a variety of retail
uses
● EPC Rating: C
Prominent Retail ShopBROOKFOOT MILL,
ELLAND ROAD,BRIGHOUSE, HD6 2RW
Rents on application
● Warehouse 89,191sqft
● Showroom 9,217sqft
● Office accommodation
32,790sqft
● Available to let in sections
● EPC Ratings: C & E
Modern Industrial Complex
MARKET STREET,HUDDERSFIELD,
HD3 4HZ£80,000
● 56.67sqm (610sqft)
● Village centre position
● Extensive upper floors
● Could convert flat over,
subject to planning consents
● EPC Rating F
Commercial Building
LORD STREET,HUDDERSFIELD,
HD1 1QA£22,000 p/a
● 123.93sqm (1,334sqft)● Extensive frontage
● Level access
● Landmark building
● Newly refurbished
● Could sub-divide
● EPC Rating F
Shop/Offices
VICTORIA STREET,HOLMFIRTH,
HD9 7DF£265,000 / May Let
● 267.74 sqm (2882 sqft)● Currently a Restaurant with
Living Accommodation
● Prominent position
● Freehold with vacant
possession
● EPC Asset Rating D
Commercial Building
LUCK LANE,HUDDERSFIELD,
HD1 4QTREDUCED RENT -
£14,000 p/a● 274.78 sqm (2,957 sqft)
● Good headroom
● 2 x inspection pits
● Loading doors
● Off road car parking available
● EPC Rating :D
Industrial Unit
FOR SALEBridge TavernHolmbridge, Holmfirth1 3 storey public house of 4,220 sq ft1 Car park and land of 1.36 Acres1 Suitable for conversion/development (STP)
Thinking of expanding?See howwemeasure up.
One of the North’s leading
privately owned commercial
and industrial property providers.
A family business you can trust.
Exceptional portfolio across 4 estates,
Towndoor has over 80 units to let ranging
from 400 to 40,500 sq.ft.
Warehouses, lock-ups, trade counters, luxury offices and storage space.
Flexible deals offered.Our tailored no fuss approach means
We are proud to celebrate 25 years in acquiring,developing and letting commercialand industrial property in strategic locations throughout West Yorkshire.
Unit N5 - 10,322 sq.ft.MelthamMills,HolmfirthHD94DS
Unit J2 - 2,938 sq.ft.Meltham Mills,Holmfirth HD9 4DS
Unit O3 - 15,231 sq.ft.Meltham Mills,Holmfirth HD9 4DS
P Block - 9,200 sq.ft.standalone unitMeltham Mills,Holmfirth HD9 4DS
BarclaysBARCLAYS has appointedNigel Mochrie as the newarea business manager forWest Yorkshire covering theSME sector.
His regionalresponsibilities take inHuddersfield, Dewsbury,Brighouse, Wakefield,Halifax and Pontefract.
Mr Mochrie (pictured) hasa wealth of experience in corporate and SMEmarkets across Yorkshire. Previous rolesinclude responsibility for business customersacross North Yorkshire as a senior partner forYorkshire Bank.
He said: “I am really looking forward toconsistently putting customers and clients’interests at the heart of everything that we do –striving to improve the service that we provideand making responsible decisions in how wemanage our business.
“This will involve playing an even broader rolein the communities in which we live and workthrough community investment and the directefforts of our colleagues.”
Direct route for JohnA HUDDERSFIELDbusinessman has beenshortlisted for a coveted award.
John Andrew, founder andchairman of golf retailer DirectGolf UK, is one of 11 businesspeople from across Yorkshire tobecome a finalist in Ernst &Young’s Entrepreneur Of TheYear awards programme 2013.
They will compete with 32others from across the North ofEngland at a regional awardsevent on June 25 inManchester.
From there, regional winnerswill vie for the title, Ernst &Young UK Overall EntrepreneurOf The Year 2013 and achance to represent their
country at a global awardsceremony in Monte Carlo nextyear.
Mr Andrew, a qualified PGAprofessional, set up Direct GolfUK in 1991 and 22 years onretains full ownership of thebusiness. In that time, he hastaken the Leeds Road-basedfirm from one store inHuddersfield to 21 storesacross the UK with more than300 staff and a 75,000sq ftwarehouse.
Since 2010, Direct Golf UKhas added nine new retailoutlets. During that time, it hasposted consecutiveyear-on-year growth and liftedturnover by more than 70%.
Dedicated to the export driveEXPORTERS in Kirklees have been urgedto join a new body dedicated to boostingtheir success in overseas markets.
The We Are International ExportNetwork brings together successfulexporters from a wide range of sectors.
It is part of the We Are Internationalcampaign, an initiative set up by the LocalEnterprise Partnership, government exportsupport arm UKTI and ChamberInternational to provide a £2.6m boost tothe economy of the Leeds City Region –
which includes Kirklees – by providingmore support for companies to dobusiness overseas.
Boosting export rates is a key element ofthe Leeds City Region “City Deal” agreedwith government last year.
The Deal sets an ambitious target ofeliminating the City Region’s £1bn tradedeficit and achieving a growing surplus of£1.6bn by 2018.
Leeds City Region chairman NeilMcLean said: “What’s unique about the We
are International campaign is that it’sprimarily about connecting new or aspiringexporters with companies that have beenthere and done it already.”
He said: “We have some fantastic exportsuccess stories in this City Region and Ihope that as many companies as possiblewill take advantage of the Export Networkto learn about the practicalities of enteringnew markets, and develop new businessconnections.”
Go to www.weareinternational.co.uk.
Opticians groupcatches the eyeA HUDDERSFIELD-based opticiansgroup has won national honours.
The Valli Group has been named winnerof the Business Excellence category in theOptician Awards 2013.
The group, which has six optical prac-tices across Huddersfield and Calderdale,overcame strong competition to win theaward, which was presented at a ceremonyin Birmingham.
Managing director Moin Valli said: “Weare absolutely delighted to win the award.Our fantastic team really deserves it andthis award is recognition of their hardwork.
“Our goal is to position the Valli Groupas the leading independent opticians acrossWest Yorkshire and eventually beyond,offering professional eye care and out-standing service in our local communities.
“We’re working hard to achieve thisthrough the acquisition of further practices,growth of current practices, business devel-opment, extensive financial investment inour staff development and training.
“We were shortlisted along with someother fantastic optician businesses so I’mvery humbled to win and honoured to berecognised by industry peers.”
The success comes just five months afterMoin was named Young Business Person ofthe Year in the Examiner BusinessAwards.
Moin, 35, and his wife Rachel, foundedthe Valli Group in 2005. it now has six
independent optical practices with a teamof 25 staff. It also has a domiciliary busi-ness, which provides eye care to elderly anddisabled patients unable to visit their localpractice and a corporate eye care business
to look after corporate clients.The Valli Group has invested heavily in
technology, optical equipment and refur-bishment spending almost £400,000 in thelast six years.
■ WINNERS: Moin and Rachel Valli, of The Valli Group Opticians, and their award
Firms keep thecyclists goingCYCLISTS raising cash for good causes will be keptfed and watered thanks to two Huddersfieldcompanies.
Dalton-based catering supplier Total Foodservicehas donated 900 flapjacks to keep fundraisersfuelled during the 240-mile Pedal for Pounds bikeride. And bottled water firm Shepley Spring will keepthe riders hydrated by donating bottles of its IceValley water.
Some 290 cyclists will take part in the Pink LinkP4P4 Tour of Yorkshire, stopping off in Hull,Scarborough and Harrogate, to raise money for theYorkshire Air Ambulance and Huddersfield Town’sacademy.
The flapjacks have been produced byLeeds-based Exquisite Handmade Cakes and jointlydonated in conjunction with Total Foodservice.
P4P4 is the fourth instalment of Town’s annualbike rides and will raise funds for the lifesavingYorkshire Air Ambulance charity and theHuddersfield Town Academy.
The ride starts on Wednesday, May 1, inHuddersfield with cyclists riding to Hull,Scarborough, Harrogate and back to Huddersfield intime for the club’s last home League fixture againstBarnsley on Saturday, May 4.
■ IN THE SWING: JohnAndrew, Direct Golf UK
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