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City region based developer nominated for major property group award

Awards

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14/10/2022

City region based developer nominated for major property group award

Later this autumn YM Liverpool, one of the city’s most established magazine publications, will be hosting its annual Property & Business Awards and Widnes-based enterprise Sourced Development Group are delighted to announce they are nominated in the Property Developer of the Year category. The premium gong of the evening will recognise the standout star of 2022, in recognition of the business whose innovation, architecture, and regeneration are changing the landscape of the city region.

Sourced Development Group feel it is the perfect time to celebrate their own achievements of 2022. Specialising in the commercial and residential development sectors, it is one of the most forward-thinking, progressive and reputable property investment, funding and development companies in the UK. Sourced also has an esteemed track record across the North West, with an award-winning portfolio across the city region of Liverpool, as well as its established bases in Manchester, including its current Regent Plaza 3-phase development.

Within Liverpool itself, Sourced Development Group’s hugely prestigious The 56 at Westminster Park, is due to be completed in January 2023 with planning permission for 614 apartments. The development is three months ahead of schedule and has already enjoyed a sold out success for its Phase 1, with Phase 2 recently launched, where a third of all units have already been sold, too. The popular boutique Derby Court development has proved to be a huge hit within the city’s creative hub, which is also sold out and completed in May of 2022. Sourced are also continuing to develop at Kingsway Square in the city, and are excited to continue the design of a new project at Carlton Court. This is a key site in terms of regenerating a location which has been vacant for many years, bringing much-needed residential and commercial units in a popular residential zone with a direct route to the city centre.

Joanne Waller, Managing Director of Sourced Development Group explains: “We are absolutely delighted to be nominated in the category for Property Developer of the Year. YM Liverpool has been established in the city since 1999, and is widely respected and has such a reach in terms of communicating with every stakeholder in the industry, including buyers and investors. It goes without saying that we are really looking forward to the Awards themselves, as they are a real celebration of our industry, our peers, and the city region itself.

For Sourced Development Group as a business, it also allows us to toast the properties we have completed and now class as sold out, our continuing projects which add value to the region, and new investments which are currently in our sights. As a privately owned business, this allows us to retain considerable control over every project we undertake from first design to end completion, and in 2022 we are particularly proud of our prestigious sites at, 56 at Westminster Park and Regent Plaza.

Liverpool city region has its own unique characteristics which we are hugely proud to be contributing towards, particularly in terms of its heritage, regeneration and cultural standing. As a team, we are committed to providing the very best in luxurious, premium-quality and appointed accommodation in a city which has so much to offer now, and with so many future plans for further developmental scope.

Winning this award from YM Liverpool would really mean such a lot to us as a team, in recognition not just of what we achieved so far but how, as a business, we managed to navigate the challenging trading conditions that the global pandemic created, and have come out the other side thriving and full of enthusiasm, as well as with a drive to continue doing what we do best.

Every category will be hotly contested on the evening, and it will be fantastic to toast the success of our key industry and everyone who works within it, at an occasion provided by YM Liverpool which is always stylish, elegant, and has at its heart a true recognition of everyone who contributes to such a vital sector within our of the local, regional and national economy.

We have so many exciting plans in place for 2023 and beyond – with our sales revenue having already topped £492,000,000 across our in-house projects, we look to another high-performing year.”

The YM Property & Business Awards take place on Wednesday 30th November 2022 at the Hilton Liverpool City Centre.

To find out more go to:

https://ymliverpool.com/ym-liverpool-property-business-awards

MANCHESTER’S FIRST SHOPIFY EVENT A SUCCESS

Business

Sam Allcock

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14/10/2022

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MANCHESTER’S FIRST SHOPIFY EVENT A SUCCESS

An event hosted by Manchester’s Rainy City Agency, focussing on the upcoming busy trading periods of Black Friday, Cyber Monday (BFCM) has delivered some great insights to its 200+ audience.

The evening, called “This is not a Zoom call: Time to Unmute”, provided an opportunity for Shopify merchants and entrepreneurs to network – the first time in Manchester – discuss preparations for BFCM and receive expert insights into making the most of the busy trading period.

The attendees, some of whom came from overseas, included a broad mix of eCommerce start-ups, those already utilising the Shopify platform and those considering migration over to the platform.

Attendees were provided with expert insight from a number of discussion panels giving access to experts from Shopify and covering topics like consumerism, social media usage and the importance of customer retention.

Chats highlighted the need for merchants to take a 12 month approach to preparing for BFCM in order to best handle the typical seasonal rush. Most agreed that gathering customer first party data throughout the year definitely helped make the often hectic retail event more successful.

Rainy City Agency partners including Loyalty Lion, Gorgias and REVIEWS.io shared common experiences around BFCM campaigns saying that the best performing were those that used multiple channels to promote them including paid, owned and earned media. Messaging that was personalised towards consumers also worked well.

Rebecca Worsley, CEO and founder of Rainy City Agency commented: “Our first Shopify event was a great success. We brought together Shopify merchants from around the country, as well as from Europe, to discuss preparations for this important trading period.

Black Friday and Cyber Monday are testing times for many e-commerce businesses and merchants. The event aimed to give people more confidence around maximising the super sales peak and not being too daunted to take advantage. It’s all about preparing for the challenge.”

For further information on the agency, as well as any further events, visit or contact Rainy City Agency.

Leep Utilities strengthens team with two senior hires

Appointments

Sam Allcock

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14/10/2022

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Leep Utilities strengthens team with two senior hires

Manchester-based last mile multi-utility network owner and operator, Leep Utilities (Leep), has strengthened its team with the appointment of two directors.

Lee Kitchen joined the company as Chief Financial Officer, and Helen Bishop as Director of Customer Operations.

In his new role, Lee is responsible for managing Leep’s day to day finance function and to provide strategic and financial guidance to the company’s CEO and board. He also oversees its finance and IT departments.

He joined Leep from ENGIE, a French utilities multinational business where he held various senior roles over an eight-year tenure, most prominently as Finance Director for their District Heating & Cooling business.

On his appointment, Lee said: “I joined Leep Utilities because of the vision that the board shares for the business and, given my industry experience, I believe I can add real value in helping them achieve their ambition through a period of rapid growth. I really feel like I’ve joined at a great time. Leep have successfully navigated an unprecedented and unpredictable couple of years and have a host of exciting initiatives and projects they are working on – there’s lots to keep me busy and I’m thrilled to be here.”

After her eight-year tenure at Thames Water, Helen Bishop joins Leep as Director of Customer Operations and brings with her enviable experience and a proven track record in customer and direct communication and engagement strategy.

In her previous role, Helen designed and directed a customer behavioural change programme for Thames Water. She also oversaw the investment to transform Thames Water’s customer bill for 3.6million customers, which measured a tangible benefit through reducing customer contact and complaints.

Helen said: “I am a strategic leader who thrives in a pressurised and challenging environment and bring to Leep over 15 years’ experience of designing and delivering customer transformation in the travel and water sectors. I’m passionate about making a difference for both customers’ and people and am very much looking forward to doing the same here.”

Leep Utilities’ CEO Louise Manfredi said: “It goes without saying that we’re delighted to welcome Helen and Lee to our team. They are both proven leaders within the utilities sector and their experience will be invaluable as we enter what is a significant and ambitious growth phase for us.

“They’re very important additions to our senior leadership and its testament to the great work that we’re doing – and our plans for the future – that we’re able to attract such high-calibre colleagues. We’re absolutely delighted to have them both on board.”

HUGH JAMES STRENGTHENS UK PRESENCE, ACQUIRING LEADING MANCHESTER FIRM, POTTER REES DOLAN

Legal

Sam Allcock

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14/10/2022

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HUGH JAMES STRENGTHENS UK PRESENCE, ACQUIRING LEADING MANCHESTER FIRM, POTTER REES DOLAN

Top 100 UK law firm, Hugh James, is extending its service across the north of the UK through the acquisition of Potter Rees Dolan – a personal injury and clinical negligence firm, recognised in the Times Top 200 UK Law Firms and by the Legal 500 and the Chambers Guide as one of the best in the North-West.

Potter Rees Dolan is a national catastrophic personal injury and clinical negligence practice, with strong Court of Protection and Welfare Benefits departments. In the past year, it has secured settlements worth more than £125 million for its clients. The firm employs more than 65 staff, including 9 Partners.

This latest investment is a significant move for Hugh James. Expansion into the North-West was identified in the firm’s strategy 5 years ago. Since then, the Welsh-headquartered firm has rolled out a series of transformation plans, expanding its London presence through new hires; opening offices in Southampton and Plymouth; and reconfiguring its award-winning Cardiff HQ following the introduction of ‘hybrid-working.’ Expanding its presence across the north of England is the next step for the firm, as it seeks to extend the depth and breadth of its expertise to support growing client demand.

Potter Rees Dolan identified Hugh James as the ideal successor-firm which would present PRD’s Manchester offices as part of a national practice. Hugh Potter and Helen Dolan were keen to secure new owners who shared their vision and values and who would continue to nurture the business, which was established 24 years ago and has become a market leader with a very strong financial base

Helen and Hugh will continue to lead and manage the office in Manchester, working with the wider Hugh James management team, to ensure a smooth transition and seamless client service.

Commenting on the acquisition, Alun Jones, Managing Partner at Hugh James, said today:

“This is an exciting development for us. Potter Rees Dolan is a well-established and very well-run Manchester firm, employing a great team of people. Our work aligns closely with theirs and together we’ll be able to provide an even better service to clients across England and Wales. It’s an honour that Hugh and Helen have chosen to pass the mantle onto us. They’ve built a very successful business over the years and I look forward to working with them as we enter this new chapter.”

Speaking of the deal, Hugh Potter and Helen Dolan added:

“Hugh James has an excellent reputation. We share the same commitment to placing client care front and centre and we are confident we have also secured a really bright future for our staff. What stood out for us was that, while Hugh James is an ambitious business, it remains firmly rooted in community. We’ve been impressed by the approach the Partnership has taken in carefully building its London presence and we are confident that the same will be applied to develop the business in Manchester.”

For now, Potter Rees Dolan will continue to exist with its own refreshed brand, to allow for a longer-term progression into the Hugh James identity. Over time, new departments will be introduced into the Manchester office, from across the firm’s Private Client and Business Service areas of work.

NQ64 Retro Arcade Bar is upping their game this Autumn

Entertainment

Sam Allcock

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14/10/2022

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NQ64 Retro Arcade Bar is upping their game this Autumn

When it comes to nostalgia, retro arcade games, and game-themed cocktails, no one does it better than NQ64. With nine bars across the UK and more expansion in the pipeline, NQ64 is always looking for new ways to ‘level up’ their unique arcade bar experience.

This week NQ64 are launching seven new game-inspired cocktails, to their menu, including their very first non-alcoholic additions. The new drinks will make their debut at their arcade bars this Wednesday (12^th October), replacing five of their pre-existing cocktails, you can expect to see a menu full of flavour, fun and nostalgic vibes.

A huge part of NQ64’s team training focuses on developing cocktail skills; the team are always striving to create the perfect drinks to accompany their arcade games. Through regularly interacting with customers directly, nobody has a better understanding of what NQ64’s audience are looking for when it comes their drinks than the on-site teams. So, when it came to the development of their new cocktail menu, getting the whole team from every venue involved was a no brainer.

An internal competition took place at each of the bars back in August where staff had the opportunity to create and develop their own game-inspired drinks before presenting them in the finals at NQ64 Birmingham, where each drink was judged. The cocktails presented at this competition led the direction of the new menu, with the final drinks chosen created directly from the team.

Cocktails inspired by the retro arcade games, which will be on offer at each of the venues include:

Super Coco Ball: A Rum based drink with Brandy, Cacao, Banana, Hazelnut and a Coco Pop milk blend [Based off Super Monkey Ball game]
Mr Stay Puft: A Marshmallow espresso Martini, with Vodka, Espresso, Marshmallow and Chocolate [Based on the Ghostbusters character]
Mega Daisy: A Gin spritz with Aperol, Triple Sec, Elderflower, Lychee and Prosecco [Based on Daisy from the Mario franchise]
Final Fantarita: A Sour cherry margarita with Tequila, Sour Cherry and topped with Fanta [Based on Final Fantasy game]
Lake Springfield: A Sour Apple Whiskey drink with JD Apple, Midori, Toxic Waste Cordial and Apple [Based on The Simpsons]
No Uka Uka (non-alcoholic): An alcohol-free cocktail with Caleño (non-alcoholic spirit) Refresher Syrup, Guava, Pineapple and Lime [Based on Crash Bandicoot game]
Driver Spritz (non-alcoholic): An alcohol-free cocktail with Crodino, Candied Strawberry, Lemon and Soda [Based on Driver game]

James Taylor, NQ64 Drinks Development and Training Manager, told us: “At NQ64 we are always looking for inspiration when it comes to our venues, whether this is through finding new arcade games or developing our bar menus. With drinks being such a huge part of the NQ64 experience, we always like to keep the menu fresh with new and exciting twists on game inspired cocktails, using fun and unique ingredients that result in a delicious taste.”

As well as their new drinks menu, NQ64 will also be launching up to four new arcade games across each of their sites this November, adding even more entertainment to their already retro packed arcade bars.

With Christmas also just around the corner, they have launched their very first Christmas party bookings, where you can button bash the night away with friends, family or colleagues during the festive season. Taking bookings from groups of any size, you can pre-order drinks and token packages in advance. To find out more and book your NQ64 Festive fun visit: https://nq64.co.uk/christmas/

NQ64 Manchester Peter Street: 23 Peter St (next to Albert’s Schloss), Manchester, M2 5QR

Peter Street Opening Hours:

Monday – Friday: 4pm – 2am
Saturday – Sunday: 12pm – 3am

NQ64 Manchester NQ: 9 Short St, Manchester M4 1AA

Northern Quarter Opening Hours:

Monday- Friday: 4pm- 2am
Saturday & Sunday: 12pm-2am

Website: https://nq64.co.uk

Instagram: @nq64mcr

Facebook: @nq64mcr

Issued by Twist Marketing on behalf of NQ64.

Media Contacts: Sophie Gwilt – sophie@twistmarketing.co.uk | 07867 122 873

Lender Liaison is Crucial in Current Climate, says Manchester based Bruton Knowles

Finance

Sam Allcock

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14/10/2022

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Lender Liaison is Crucial in Current Climate, says Manchester based Bruton Knowles

Bruton Knowles’ National Valuation Team – located across 11 offices across England and Wales, including in Manchester – is seeing an increase in client enquiries resulting from the recent volatility following the Government’s tax-cutting mini budget which caused Sterling to slide.

This comes amidst news that the UK economy shrank rather than flatlined in August, which is yet another sign of these unpredictable times, indicating the economy is in for a rocky ride over the months ahead.

Experts at Bruton Knowles – a leading independent chartered surveying firm with a base at Stamford House on Northenden Road in Sale M33 2DH – have been on hand to give careful and considered advice to clients as they seek to secure loans before any further interest rate hikes.

Putting these sorts of deals in place early is an important move, as Ian Pitt, Partner and Head of Bruton Knowles’ National Valuation Team, explains:

“This is very much a watch this space situation. It’s difficult make any professional judgements at a time when the situation is evolving so quickly. That said, we do believe in the short-term, tying in any outstanding financial commitments as soon as possible will be key for our clients.

“This will help them maintain some sort of equilibrium during this period of uncertainty. In addition, it will also ensure their project pipelines continue to progress, something that is more important now than ever before, given recent supply chain disruptions.

“Over the longer-term, we envisage that this perfect economic storm – caused by political uncertainty, the crashing Pound causing further inflation and exacerbating the cost-of-living crisis, Ukraine, Covid and Brexit – has the potential to bring property markets to a standstill. Interventions must strike the right balance to instil confidence across markets and the media.

“The challenge for the Government over the coming weeks will be whether to stick or twist on its proposals, particularly in light of the Bank of England’s temporary bond-buying interventions to stabilise investments and pension schemes.

“So far, ministers seem relatively steadfast in the approach, maintaining that reductions in public spending are not an option to balance the books, despite the huge cash injection to help people and businesses manage their spiralling energy bills.

“Interestingly, and notwithstanding early pressure from the International Monetary Fund for Government to reflect on the measures announced, it has, in recent days, acknowledged that the mini-budget will eventually boost Britain’s economic performance in comparison to other G7 countries.

“The downside, of course, is that Government’s interventions are contributing to ever-present inflationary pressures. Perhaps this is the lesser of two evils, and as a necessary adverse reaction to offset some of the bigger economic challenges the country is currently grappling with.

“Nonetheless, the pausing or withdrawal of some financial deals in response to rising inflation is a concern. Finding the right offer at present is no doubt proving more challenging, but we would advise our clients to keep talking to their lenders as the marketplace evolves.

“Every day there is a new development which is impacting on market sentiment. Although this continues to cause some unease, it is hoped the bringing forwards of a more detailed analysis by fiscal watchdog, the Office for Budget Responsibility, will stabilise the situation.

“All eyes will be on this independent assessment, now due on 31^st October, which many hope will demonstrate the extent to which Government’s support package will maintain the long-term competitiveness of UK PLC.”

Bruton Knowles offers a one-stop-shop for clients, with its four National Teams – Valuation, Commercial, Utilities & Infrastructure and Building Consultancy – providing a point of contact to deliver an entire project to the exacting standards required. It works on behalf of a significant number of public and private sector organisations, on both a retained and a project basis, and is seen as a trusted partner in delivering high-quality surveying advice.

Bruton Knowles has extensive expertise and in-depth market knowledge of local and national property markets throughout the UK. Using its team of motivated resourceful surveyors, and methodologies approved by the Royal Institution of Chartered Surveyors (RICS), the firm provides the best commercial property advice. www.brutonknowles.co.uk.

AMBULANCE STRIKE: GMB REVEALS BALLOT DATES FOR ALMOST 20,000 WORKERS ACROSS TRUSTS IN ENGLAND AND WALES

Health
News

Sam Allcock

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14/10/2022

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AMBULANCE STRIKE: GMB REVEALS BALLOT DATES FOR ALMOST 20,000 WORKERS ACROSS TRUSTS IN ENGLAND AND WALES

Cuts and shortages mean GMB members feel they are unable to deliver safe standards of patient care

GMB Union has announced industrial action ballot dates for more than 15,000 ambulance workers across 11 trusts in England and Wales for strike action.

Ambulance workers from London, East of England, East and West Midlands, North East, Yorkshire, North West, South Central, South East Coast, South West and Wales Ambulance trusts will take part in the strike vote.

Thousands more NHS workers will also be balloted across other NHS trusts, with more votes set to follow.

The ballot opens on 24 October and closes on 29 November, and any potential strike action could take place before Christmas.

The strike ballots follow consultative votes across all the trusts in which workers voted strongly in favour of strike action.

Workers are angry over the Government’s imposed 4 per cent pay award, which leaves them facing yet another massive real terms pay cut.

Rachel Harrison, GMB National Officer, said:

“Ambulance workers have just had enough.

“They’ve not been on strike in decades, but they are at the end of what they can take.

“Pay has been systematically slashed for more than ten years and we now face the worst cost of living crush in a generation.

“Meanwhile vacancies are at record highs and we have the worst A&E delays ever – and it’s not even the winter flu season yet.

“But this is about more than pay and conditions. Cuts and shortages mean GMB members feel they are unable to deliver safe standards of patient care.

“Things can’t go on like this – something has to give.”

SCHOOLS URGED TO MAKE BIDS FOR £25,000 FUNDING FROM MANCHESTER AIRPORT AHEAD OF UPCOMING DEADLINE

Charity

Sam Allcock

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14/10/2022

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SCHOOLS URGED TO MAKE BIDS FOR £25,000 FUNDING FROM MANCHESTER AIRPORT AHEAD OF UPCOMING DEADLINE

Manchester Airport’s Community Trust Fund is running a 25^th Anniversary Eco-Garden competition, with up to £40,000 to give away to local schools
Schools invited to bid for £25,000 of funding for a garden or play area, with 2^nd place prize of £10,000 and 3^rd place prize of £5,000 also on offer
Applications must be made by Friday 28^th October via www.manchesterairport.co.uk/community
Time is running out for Primary schools near Manchester Airport to submit applications to a one-off £25,000 fund to mark the airport Community Trust Fund’s 25^th anniversary.

One local primary school will receive the top prize for a new eco-friendly garden or outdoor learning area, whilst a runner-up and third-placed school will receive £10,000 and £5,000 respectively.

Primary schools within the Community Trust Fund’s catchment area – which encompasses roughly a 10-mile radius of the airport, including parts of Trafford, Manchester, Stockport, Tameside and Cheshire – are being invited to submit a proposal for outlining how they would spend the funds, with a deadline for entries of Friday 28^th October.

Six finalist schools will be selected, with pupils asked to prepare a pitch to the trustees, which will be delivered at a grand final event under the wings of the Concorde, at the airport’s Runway Visitor Park, to decide the winners.

Entries can be submitted by visiting www.manchesterairport.co.uk/community/working-in-our-community/eco-garden/. Schools should offer a breakdown of how they would spend the funds and a covering letter outlining the difference this would make, also specifying how they would use the project to promote environmental awareness among pupils, whilst enriching the environment and improving biodiversity.

The application will include producing a short video of no more than 3 minutes, presented by pupils, summarising the eco-garden proposal and the benefits it will bring.

Selected finalist schools will be contacted by 21^st November and will be asked to prepare a 10-minute presentation for the trustees, to be given at the grand final on Tuesday 6^th December.

Chris Woodroofe, Managing Director at Manchester Airport, said: “This competition provides a unique opportunity for primary schools in our area to develop an area of their campus that is in need of renovation. Outdoor learning is an important part of primary education and this funding will support projects that will provide a real legacy for pupils. That is why I would encourage schools to get their applications in before the deadline.

“We are proud of the work that the Community Trust Fund has done over the past 25 years and that work will continue. We are committed to ensuring that our neighbouring communities share in the benefits of having a major international airport on their doorstep.”

The Community Trust Fund is overseen by the airport and managed by a committee of independent trustees, formed of local councillors from the six local authority areas which fall within the fund’s catchment area. It provides cash either as a contribution to, or to meet the full cost of, not-for-profit initiatives.

Trustees meet on a quarterly basis to consider pledges up to £3,000, with applications welcomed from community groups or charities based within 10 miles of Manchester Airport. Since its establishment in December 1997, has invested more than £3.5m into worthwhile causes – with some organisations having benefitted from multiple donations in that time.

Friends of Heaton Norris Park, in Stockport, received £2,000 for play equipment in 2012, then were granted around £1,200 for a safety gate in 2016 and received their most recent donation earlier this year, of £1,300 towards a steel framed picnic table, which will be installed this month.

Group organiser Agnes Pimblett explained; “The grants we received have benefitted the local community enormously and continue to do so.

“We would not have had our play equipment without the grant which continues to benefit park users, but also the mother and toddler groups that use the pavilion. The apparatus is played on daily and has stood the test of time.

“We are lucky in our park, as we have the Cheshire Wildlife based with us, and they recently had an open day to show children and adults the wonderful wildlife in their local park and how to protect it.

“Local enthusiasm for preserving wildlife and wanting to know and do more was so infectious and the children had a wonderful day and learned such a lot.

“It is so important for children, in particular, to take some ownership over their environment and a feeling of being able to contribute, especially in this climate when so many things have been out on their control. What better way to do this than to take part in a competition that will involve so much learning about their environment, and will see them develop their own eco-garden where they will have a voice as to how this is created?”

Another Stockport-based group, Friends of Romiley Park, echoed these sentiments. The group was set up in 2005 and has received four donations for planting and landscaping, railing and picnic tables, totalling around £6,150. Beds that were planted in 2006 with Community Trust Fund grants are still in situ and flourishing.

Alan Smith, the group’s secretary, said: “The benefits of gardens and green spaces to both mental and physical health are massive, and our park is a great example. If schools in my area are considering entering the eco-garden competition, I would encourage them to go for it.”

The 25^th Anniversary Eco-Garden competition is running in parallel with the regular quarterly meetings, where new applications for funding will continue to be considered. Information on how to apply for a Community Trust Fund grant, and the full criteria, can be found here.

For more details on the Community Trust Fund, or the 25th Anniversary Eco-Garden competition, please contact the team by email – trust.fund@manairport.co.uk.

New energy saving super-magnet gets first test run

Tech

Sam Allcock

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14/10/2022

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New energy saving super-magnet gets first test run

Testing has begun at Diamond Light Source, the UK’s national synchrotron facility, for an energy-saving super-magnet, designed and built by the Science and Technology Facilities Council (STFC) for our next generation of particle accelerator.

Particle accelerators are responsible for some of our greatest scientific breakthroughs in history, such as the discovery of the Higgs boson at CERN’s Large Hadron Collider.

The world needs these powerful and highly complex machines to enable research essential for developing important green technologies, such as better solar cells and more efficient batteries.

Beaming at the speed of light

One particle accelerator can use thousands of high-power, tuneable electromagnets to bend and focus a beam through the machine, close to the speed of light. However, these consume vast amounts of electricity to operate and cool.

Designed by scientists and engineers at STFC’s Daresbury Laboratory, at Sci-Tech Daresbury, the Zero Power Tuneable Optics magnet (ZEPTO) is a permanent, tuneable magnet that consumes zero electrical power.

ZEPTO offers the same flexibility as an electromagnet but does not require power to produce a magnetic field, which could save dramatically on the cost and scale of future particle accelerators.

The Diamond test

Energy consumption, and the associated financial and environmental cost, are key challenges faced when building a next generation particle accelerator.

ZEPTO’s successful commissioning at Diamond kicks off a year-long demonstrator to confirm that it is as reliable and robust as a conventional electromagnet.

During the test, one magnet is expected to save an estimated 136 kg CO2 compared with a conventional electromagnet, with the carbon payback anticipated to be within a year of operation.

Technology for future accelerators

Professor Jim Clarke, Director of STFC’s Accelerator Science and Technology Centre, who led the design and development of the ZEPTO magnet, said:

“The development of the ZEPTO magnet confirms STFC’s ability to design and build the brand new technologies required to build the world’s next generations of research facilities more affordably and sustainably.

I’m so proud to see it installed and running successfully for the first time on an operational facility, this is a significant step in the development for this innovative magnet.”

Making particle accelerators more sustainable

The ZEPTO magnet, developed under STFC’s Proof of Concept Fund, is part of STFC’s growing Sustainable Accelerators Programme and is just one demonstration of STFC’s commitment to making accelerators more sustainable.

Professor Clarke added:

“It’s hugely exciting to be applying our expertise to make particle accelerators more environmentally and financially sustainable, for the benefit of our environment and economy.

This important project is just one example of how accelerator scientists, engineers and technicians at STFC are supporting STFC’s aim to be net-zero by 2040.”

Business and Divorce: Dividing Company Assets in the UK

Thought Leaders

Sam Allcock

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14/10/2022

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Business and Divorce: Dividing Company Assets in the UK

Experiencing a divorce when there’s a business involved raises many questions. For example, you may wonder if you are able to keep control of your business following a divorce, or how much you will have to pay a spouse so they are no longer a part of the company. You may also question how much you are entitled to if you let your partner keep the business. We examine the various ways in which businesses are divided to help put you in the know.

The basic financial principles of divorce

Courts in the UK will begin by aiming for a 50/50 split of all financial assets. However, several other determining factors will then be brought in to the equation that will affect this weighting. For instance, children whose financial welfare needs to be considered, whether or not either party has medical problems, how long the partnership lasted and what each party has access to financially.

Will I lose my business?

It is not the primary aim of the UK courts to sell businesses in divorces, in most cases they will look to keep the business with its owner, for example, offsetting its value against other matrimonial assets. However, it is possible especially if there is no way to divide assets. In these cases, the courts will attempt to apply financial settlement terms that enable periodical payments so the party holding on to the business has time to raise the necessary funds together to buy the other party out.

How are the assets divided?

The guiding principle of a 50/50 split is a starting point for the courts, regardless of who set up or runs the business. This is usually because a business is considered to be an income for the family unit, and it is often the case that the spouse who was not involved in the business was contributing in different ways to the marriage, for example, running the household, thus allowing the business to run effectively.

*Note that in Scotland, the rules are slightly different in that companies that were set up before you were married are not considered in a divorce.

Transferring the business

Divorcing spouses understandably do not want to work at the same company together, so, when they cannot agree between themselves, it’s logical to the courts that a division of some sorts needs to occur. If a company’s incorporation policies allow for a transfer of ownership, the court can order this, thus giving one party sole ownership and resulting in a clean break order. This transfer is enabled through one party buying out the other’s shares.

If this is not possible, then a new shareholder agreement can be compiled detailing how the business will be managed following the divorce, but it can cause significant problems in the effective running of a business.

Valuing the company

Knowing the value of your business is essential as this detail is required when you complete your disclosure statement at the beginning divorce proceedings. Often, couples will agree on the valuation but if not, you can hire a professional for an accurate value. Contributing factors include whether there are any pension schemes attached to the business, what assets the business has, how the company is structured, and the liquidity of the business’ assets. A forensic accountant will look through all the financial information relating to the company, including accounts, balance sheets, annual returns and P&L accounts and forecasts.

Conclusion

While considering the various aspects of divorce and business, you will also need to ensure it stays running. If, like most businesses, yours requires both parties to consent to decisions, this can make things very difficult. Your first port of call therefore needs to be with a qualified family lawyer.

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