news


Tillery Valley secures £1.6m meal contract


Abertillery-based food production company Tillery Valley has secured a multi-year contract worth more than £1.6m with ICare Group, one of the UK’s leading independent providers of health and social care services. The ICare group will deliver


frozen and hot prepared meals provided by Tillery Valley to individuals in their homes across the UK under its community meals service. Work on the contract will begin later this month. Tillery Valley, established in


1984, supplies prepared meals to the healthcare and education sector and local authorities throughout the UK. The firm also provides a


home delivery service, a bespoke service for the care home sector and a tailored catering service for large events. The firm’s production site


in Abertillery has the capacity to produce one million meals a week. Lancashire based ICare group


provides an extensive range of healthcare and support services for people in the community across the UK, including home delivery of nutritious meals tailored to specific preferences and dietary requirements. Site director at Tillery Valley, Phil Hall said: “We are delighted to have secured this significant contract with ICare to provide meals for individuals in their homes across the UK.”


Mark Crook


Firm secures £4m for SME funding


Following a successful 2011 Newport- based Henry Howard Finance has secured an extra £4m in funding, allowing it to significantly increase its lending capacity. In the last financial year, Henry


Howard Finance leant more than £30m to SMEs and hopes to increase this to £40m in the forthcoming year. This announcement comes


following research by the Federation of Small Businesses that has shown that the number of small businesses using a bank overdraft or loan has fallen in the last two years. The FSB has found that only one


Jeff Dunlop, operations manager, and Gary Landon Jones, shift manager, both of Tillery Valley


Easing the burden


Blaenavon-based accountants Troubleshooters has launched a new service called The Accounts Department, which is aimed at helping businesses of all sizes. The venture has already attracted its first client, RWA


Compliance Services Limited, which is one of the UK’s market leading financial services compliance consultancies, and which has recently moved its operations function to Blaenavon. The Accounts Department service provides financial


administration support to businesses of all sizes from sole traders to multi-director companies. Records can be delivered or collected monthly and processed


giving business owners access to up-to-date financial information. The agreed monthly fee can incorporate the annual accounts and tax return completion so there are no large bills at the end of the year. RWA operations director Tom Wood said: “Over the last 12


months we have shown a significant amount of growth and having someone available to us who can help manage payroll, cash flow forecasts, VAT returns and production of management accounts has allowed us to concentrate on servicing our client base and we are anticipating our strong growth to continue in 2012 as a result. “We see many benefits to operating from a town like Blaenavon


and, even though we have a nationwide presence, we are very keen to use local suppliers and support the local economy.” Troubleshooters owner Ryan Redman said: “SMEs have been


struggling for the last couple of years, but we are finding more and more are asking us for help and advice so that they can concentrate on service, sales and marketing.”


6 THEbusiness QUARTER


in three small businesses are using an overdraft facility, one in ten has been able to secure a bank loan and one in three business owners have resorted to using their own savings to fund their business.


Mark Crook, managing director


of Henry Howard Finance, said: “We are really pleased to have secured this extra £4m and are excited about the increased lending capacity that it has given us. Despite a real push by the government to encourage high street banks to lend more, it is clear that they have, in fact, shrunk their lending this year.


“As well as continuing to work


with equipment suppliers, our newest offering, Henry Howard Direct, will allow us to work in partnership with small businesses that need finance, hopefully enabling them to strengthen their organisation.” Henry Howard Finance specialises


in business leasing ranging up to £100,000. Agreements are FLA regulated and are of a fixed rate and fixed term.


Society named one of the best – again


Newport-based Monmouthshire Building Society has been named as a runner-up in the ‘Best Regional Building Society’ award category at the Mortgage Finance Gazette Awards in London. The awards acknowledge


the achievements of people and organisations within the UK mortgage lending industry. Last year it was awarded the title


of ‘Best Regional Building Society 2011’ which is presented to the mutual lender which offered the most consistently competitive mortgage rates over the past year. In 2012, MBS was honoured


in the same category as runner- up, demonstrating that for two consecutive years it has been recognised for the quality of its lending


and the overall competitiveness of its mortgage product range. Andrew Lewis, chief executive of


the society, said: “A key part of the society’s business ethos has been to boost aspirations for home ownership within the local communities in which we operate. As a regional building society, we aim to be a vibrant and supportive contributor to both the local economy, and our local customer base.” The Newport-based mutual society


announced another excellent set of annual results, in which its assets grew to a record £742m, up from £692m the previous year. In the 12 months to April 30,


2011, the society experienced growth of 7.2 per cent, while profit after tax exceeded £2.4m.


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