New Anglia LEP Investment Appraisal Committee
Wednesday 27 January 2021
Teams Meeting
9am to 9:45am
Agenda
No.
Item
1.
Welcome
Main Agenda
2.
Apologies
3.
Declarations of Interest
Minutes of previous meetings - 21 October 2020 and 23 September 2020 (for
4.
reference).
5,
Horizon Paper and GPF repayments - Confidential
5a
Items for Approval
6,
Growing Places Fund - Loan application and Grant Thornton Report (appendix
6a
6a) - Confidential
Reporting: Growing Business Fund
7,
Growing Business Fund Programme Performance Report and SGS/GTI and
7a-e
Visitor Economy/Wider Economy grant award appendices
Reporting: Innovative Projects Fund
8,
Innovative Projects Fund Programme Performance Report
8a-b
Reporting: Resilience and Recovery Fund
9,
Resilience and Recovery Fund Programme Performance Report and
9a
project approvals appendix - confidential
Other
10.
Any Other Business
Committee Members
Cllr David Ellesmere
Ipswich Borough Council
Andrew Proctor
Norfolk County Council
Sandy Ruddock
Scarlett and Mustard
Alan Waters
Norwich City Council
Tim Whitley
BT
Dominic Keen
High Growth Robotics
Kathy Atkinson
Kettle Foods Ltd
Martin Williams
Williams Business Advisory
Exec Members
Rosanne Wijnberg
New Anglia LEP
Chris Dashper
New Anglia LEP
Iain Dunnett
New Anglia LEP
Date and time of next meeting: Wednesday 24 February 2021. 9am-9:45am
Venue: Teams Meeting
New Anglia Investment Appraisal Committee
Meeting Minutes (Unconfirmed)
23rd September 2020
Present:
Committee Members
David Ellesmere (DE)
Ipswich Borough Council
Andrew Proctor (AP)
Norfolk County Council
Dominic Keen (DK)
High Growth Robotics
Sandy Ruddock
Scarlett & Mustard
C-J Green (CJG)
Brave Goose
Alan Waters (AW)
Norwich City Council
Martin Williams (MW)
Independent IAC Member
In Attendance
Kathy Atkinson (KA)
Kettle Foods
Rosanne Wijnberg (RW)
New Anglia LEP
Chris Dashper (CD)
New Anglia LEP
Helen Wilton (HW)
New Anglia LEP
Iain Dunnett (ID)
New Anglia LEP
ACTIONS
Growing Places Fund - Investment Opportunity and business plan
To receive the financial due diligence report from Grant Thornton
ID
1
Welcome from the Chair
David Ellesmere (DE) welcomed everyone to the meeting.
2
Apologies
Apologies were received from Tim Whitley.
3
Declarations of Interest
Andrew Proctor (AP) declared an interest in Item 9, the Growing Placed Fund Investment, as it refers to
Norfolk County Council. It was agreed that this would be addressed last.
4
Minutes of previous meeting (26th August 2020)
The minutes of the previous meeting were approved by the committee.
5
Growing Places Fund Horizon Paper (Confidential)
Iain Dunnett (ID) highlighted key points from the Horizon paper.
The Committee agreed:
• To note the content of the reports
6
Growing Business Fund Programme Performance Report and SGS/GTI appendices
Chris Dashper (CD) reviewed the Project Performance Reports included in the meeting papers and noted
that that interest in the GBF was now picking up.
The Committee agreed:
• To note the content of the report
Page 1 of 2
7
Innovative Projects Fund Programme Performance Report
CD confirmed that TCHC’s VG Incubator has submitted its first claim and that claims for the remaining 10
projects are expected anytime between now and mid-October.
The Committee agreed:
• To note the content of the report
Resilience and Recovery Fund Programme Performance Report and project approvals
8
appendix
CD confirmed that 1-2 applications continue to be received every day and a full paper will go to the LEP
board in October.
The Committee agreed:
• To note the content of the report
9
Growing Places Fund - Investment Opportunity and business plan - Confidential
This item was addressed last on the agenda.
AP left the meeting
10
Growing Places Fund- L’Arche supplemental grant request - Confidential
11
Hydrogen East feasibility study- Confidential
12. AOB
None
Page 2 of 2
Growing Business Fund Performance Report - November 2020
Programme Overview - What is the Growing Business Fund?
Launched in April 2013, the Growing Business Fund provides grants for businesses to enable growth, an increase productivity and job creation.
Capital grants between £25,000 and £500,000 are provided at up to 20% of project costs for SMEs, with an enhanced rate for small businesses located in an Assisted Area (until 2021).
Funding for the Growing Business Fund is provided on an annual basis by the LEP's Growth Deal.
The fund is accessed through the New Anglia Growth Hub with Due Diligence undertaken by Finance East and agreed by a GBF panel which meets monthly as required .
What is the overall Programme Status?
Finance
Green
Since the autumn there has been an increase in the number of applications coming forward, these are now being progressed slowly to panel.
Outputs
Green
Based on grant approvals, the scheme started 2020/21 ahead of target.
Green
Delivery
Pipeline is greater than the funding remaining uncommitted. Regular panel meetings continue to approve applications
What are our key updates?
Participant SMEs of the Scale Up New Anglia programme are being offered a range of support including applications to GBF (where appropriate).
This is still the LEP flagship grant scheme attracting interest: despite COVID-19, we are seeing confidence in that some businesses submitting grant applications.
Many of the busiensses are proceeding with their growth plans especially those of a medium size with a healthy pipeline of larger grant applications
GBF has been really successful and grants cocntinue to be drawn down quickly, by January 2021- £2.8m committed of which £2,200,426 has been defrayed
The GBF pipeline contines to be buoyant with growth projects requesting support.
What is our financial position?
Financials (£ million)
Year
2013 to 2016
2016/2017
2017/2018
2018/2019
2019/2020
2020/2021
Total
Profile Spend (£m)
£12.000
£3.536
£3.050
£5.096
£4.121
£2.790
£30.593
Actual Spend (£m)
£11.999
£3.001
£3.049
£4.764
£2.533
£1.267
£26.613
Remaining Spend (£m)
£0.001
£0.535
£0.001
£0.331
£1.588
£1.523
£3.979
2020/2021 Expenditure Profile
2
1
0
Q1-20/21
Q2-20/21
Q3-20/21
Q4-20/21
Quarterly Forecast
£0.698
£0.698
£0.698
£0.698
Quarterly Spend
£0.678
£0.117
£0.472
£0.000
Variance
£0.019
£0.581
£0.225
£0.698
What is our contribution to the Economic Strategy?
Actual to end of
Outputs April 2020 to March 2021
Target
Monthly Change
Shortfall
Notes
March 2021
Value of grants approved
£1,759,771
£1,589,744
£382,450
£170,027
Value of private sector match approved
£7,039,084
£10,980,207
£2,765,500
-£3,941,123
Number of New Jobs to be Created
88
102.5
29.5
-15
Value of grants claimed
£2,790,000
£1,266,932
£372,701
£1,523,068
Private sector match funding drawn down
£11,160,000
£8,139,664
£2,254,840
£3,020,336
Number of New Jobs Created
140
43.5
5.0
96
What is the project status?
The following table shows grants approved by sector since the start of the programme in 2013/14
Number of
Projects
Grants
Private
Total Project
Jobs to be
Sector
Approved
Approved
Match
Costs
Created
A- Agriculture, Forestry and Fishing
3
235899
1018543
1254442
58
B - Mining and Quarrying
1
100000
1654600
1754600
10
C - Manufacturing
138
15186237
95741810.31
110928047.3
1618.5
E - Water supply, sewerage, waste management and remediation activities
6
520000
2166000
2686000
38.5
F - Construction
22
2297336
13633863
15931199
236.5
G - Wholesale and retail trade; repair of motor vehicles and motorcycles
27
2909816
53119892
56029708
390
H - Transportation and Storage
9
915801
5235429
6151230
103
I - Accommodation and Food Service Activities
5
372000
2342138
2714138
45.5
J - Information and Communication
11
753200
3792342
4545542
76
K - Financial and Insurance Activities
1
30000
79425
109425
3
L - Real Estate Activities
26
3207666
20880393
24088059
313.6
M - Professional, Scientific and Technical Activities
1
20000
102191
122191
4
N - Administrative and Support Service Activities
1
31580
126320
157900
3.5
P - Education
8
502921
3159776
3662697
55.5
Q - Human Health and Social Work Activities
2
320000
4737413
5057413
32
R - Arts, Entertainment and Recreation
20
1660100
9434097
11094197
200
S - Other Service Activities
1
100000
232500
345000
10
Total
282
29,162,556
217,456,732
246,631,788
3,197.6
What are the next steps?
The LEP is working with delivery partners, to ensure that the scheme can be accessed by businesses to facilitate growth during the current COVID-19 Pandemic.
As we are nearing the end of the fund, we are closely monitoring the applications that are submitted to ensure they can complete on time, 31st March 2021
New Anglia LEP
Growing Business Fund
Grant Approvals - April 2020 to March 2021
Approval
Grant Business
Company Name
Reason for Support
Date
Awarded Size
May-20
A J Hodgson and Sons
£82,010 Small
Capital investment to support business growth
May-20
Mid Anglian Enterprise Agency Ltd (MENTA)
£49,390 Small
Capital investment to support business growth
May-20
Crowland Cranes Ltd
£384,900 Medium
Capital investment to support business growth
Jun-20
Primo Manufacturing Ltd
£120,000 Medium
Capital investment to support business growth
Jul-20
Freightforce Distribution Ltd
£248,809 Medium
Capital investment to support business growth
Sep-20
CTR Secure Services Ltd
£160,000 Small
Capital investment to support business growth
Sep-20
Polar Systems Ltd
£130,000 Medium
Capital investment to support business growth
Sep-20
Slic Sheet Metal Fabrication Ltd
£31,185 Small
Capital investment to support business growth
Oct-20
Armultra Ltd
£73,000 Medium
Capital investment to support business growth
Oct-20
AKS SkipHire Ltd
£66,000 Small
Capital investment to support business growth
Nov-20
Pink Office Ltd
£46,660 Small
Capital investment to support business growth
Nov-20
Olympic Construction (Norfolk) Ltd
£42,910 Small
Capital investment to support business growth
Nov-20
Wrightform Ltd
£25,620 Medium
Capital investment to support business growth
Total
£1,460,484
Small Grant Scheme
Grant Approvals April 2020 to March 2021
Date
Grant Business
Company Name
Reason for Support
Approved
Awarded Size
Apr-20
Genesis Sporthomes Ltd
£10,272
Micro
Capital investment to support business growth
Apr-20
James White Drinks Ltd (2)
£24,434
Small
Capital and revenue investment to suport business growth
Apr-20
Frugalpac Limited
£13,427
Small
Capital investment to support business growth
Apr-20
Xcell Misting Ltd
£7,200
Small
Capital investment to support business growth
May-20
Gnaw Chocolate Ltd (2)
£4,508
Small
Capital investment to support business growth
May-20
Electrical Installation and Appliance Testing (UK) Ltd
£5,538
Small
Capital investment to support business growth
May-20
ASAP Branding Ltd
£5,120
Micro
Capital and revenue investment to support business growth
Jun-20
CMI Print Services Ltd
£13,389
Small
Capital investment to support business growth
Jun-20
Smart Offices Ltd
£9,000
Small
Capital investment to support business growth
Jun-20
Total Site Services
£4,575
Micro
Capital investment to support business growth
Jun-20
Lifeline24 Ltd
£4,297
Small
Capital investment to support business growth
Jun-20
Spa Pavilion Ltd
£24,360
Small
Capital investment to support business growth
Jun-20
Brief Media Ltd.
£3,900
Micro
Capital investment to support business growth
Jun-20
WhataHoot Ltd.
£24,044
Micro
Capital investment to support business growth
Jun-20
Rob Sambrook Photography
£1,026
Micro
Capital investment to support business growth
Jul-20
Norfolk Bluebell Wood Ltd
£2,440
Micro
Capital investment to support business growth
Jul-20
Tosier Chocolate Ltd (2)
£6,742
Micro
Capital investment to support business growth
Jul-20
Newmans Cleaning Services Ltd
£3,000
Micro
Capital investment to support business growth
Aug-20
Gutter Force Ltd (2)
£3,578
Micro
Capital investment to support business growth
Aug-20
Jake Austin Window Cleaning Services
£4,565
Micro
Capital investment to support business growth
Sep-20
Global Chair Components Ltd (2)
£25,000
Medium
Capital investment to support business growth
Sep-20
Robert Fuller t/a RFA Media
£1,585
Micro
Capital investment to support business growth
Sep-20
Titchmarsh & Goodwin Fine Furniture Ltd
£7,018
Small
Capital investment to support business growth
Sep-20
Marketplace Amp Ltd
£3,162
Micro
Capital and revenue investment to support business growth
Sep-20
Anglia Business Growth Consultants Ltd
£2,990
Micro
Capital investment to support business growth
Sep-20
Norwich Glass Company Ltd
£4,393
Small
Capital investment to support business growth
Sep-20
Fish Fabrications Ltd
£2,794
Micro
Capital investment to support business growth
Sep-20
One Traveller Ltd
£11,087
Small
Capital investment to support business growth
Sep-20
DJB Investments (UK) Ltd
£2,737
Small
Capital investment to support business growth
Oct-20
Kiezebrink UK Ltd (3)
£5,280
Medium
Capital investment to support business growth
Oct-20
TGA Trading Ltd (2)
£4,600
Micro
Capital investment to support business growth
Oct-20
A&T Optimus Ltd
£12,636
Micro
Capital investment to support business growth
Oct-20
Bacons Firewood
£2,610
Micro
Capital investment to support business growth
Oct-20
Banqueting Hire Service Ltd
£11,548
Small
Capital investment to support business growth
Oct-20
Gammax Independent Inspection Services Ltd
£4,173
Micro
Capital investment to support business growth
Oct-20
Smart Bookkeeping & Accounts Ltd
£3,600
Micro
Capital and revenue investment to support business growth
Oct-20
JHW Business Services Ltd
£2,107
Micro
Capital investment to support business growth
Oct-20
Felgains Ltd
£5,580
Small
Capital investment to support business growth
Oct-20
STC Solutions Ltd
£5,525
Micro
Capital investment to support business growth
Oct-20
Cubiqdesign Ltd
£16,433
Small
Capital investment to support business growth
Oct-20
Norfolk Coffee Co
£5,625
Micro
Capital investment to support business growth
Nov-20
Ipswich Glass Ltd
£25,000
Small
Capital investment to support business growth
Nov-20
Cousins of Emneth Ltd
£2,880
Small
Capital investment to support business growth
Nov-20
XL Scales Ltd
£6,118
Micro
Capital investment to support business growth
Nov-20
Chris Wood Light Ltd
£25,000
Micro
Capital investment to support business growth
Total SGS scheme
£374,896
New Anglia LEP
Growth Through Innovation
Grant Approvals - April 2020 to March 2021
Approval
Grant
Business
Company Name
Reason for Support
Date
Awarded
Size
May-20
Agricultural & Mechanical Services Ltd (AgriMech)
£22,500
Medium
Revenue investment to support R&D or Innovation
Jun-20
Geotekk Ltd
£21,487
Micro
Revenue investment to support R&D or Innovation
Jun-20
Offshore Digital Engineering Ltd
£17,100
Micro
Revenue investment to support R&D or Innovation
Jun-20
MBASO Ltd
£24,997
Small
Revenue investment to support R&D or Innovation
Jun-20
Spark EV Technology
£11,082
Micro
Revenue investment to support R&D or Innovation
Jun-20
Showbiz Software Limited
£20,925
Micro
Revenue investment to support R&D or Innovation
Jul-20
Developing Experts Ltd
£21,892
Small
Revenue investment to support R&D or Innovation
Jul-20
Siametric Systems Ltd
£16,848
Micro
Capital investment to support R&D or Innovation
Jul-20
Purple Line Ltd
£25,000
Small
Revenue investment to support R&D or Innovation
Jul-20
G-Lok Systems Ltd
£11,161
Micro
Revenue investment to support R&D or Innovation
Jul-20
Coracle Online Ltd
£22,500
Micro
Revenue investment to support R&D or Innovation
Aug-20
Captain Fawcett Ltd
£3,440
Micro
Revenue investment to support R&D or Innovation
Aug-20
James White Drinks Ltd
£13,860
Small
Revenue investment to support R&D or Innovation
Aug-20
Ensemble Architecture Ltd
£9,409
Small
Revenue investment to support R&D or Innovation
Aug-20
Thyngs Limited
£25,000
Micro
Revenue investment to support R&D or Innovation
Aug-20
Pharmweigh Limited
£14,388
Micro
Revenue investment to support R&D or Innovation
Aug-20
RATS Marine Limited
£22,500
Micro
Revenue investment to support R&D or Innovation
Aug-20
Evans (Instruments) Limited
£3,094
Micro
Revenue investment to support R&D or Innovation
Aug-20
Just Another Label Ltd
£3,150
Small
Revenue investment to support R&D or Innovation
Sep-20
Ansible Motion Limited
£14,999
Small
Revenue investment to support R&D or Innovation
Oct-20
Exo Environmental Ltd
£21,220
Micro
Revenue investment to support R&D or Innovation
Oct-20
Merxin Ltd
£25,000
Micro
Revenue investment to support R&D or Innovation
Oct-20
Blue Novation Ltd
4,035.00
Small
Revenue investment to support R&D or Innovation
Nov-20
Olthem Payments Ltd
£8,325
Micro
Revenue investment to support R&D or Innovation
Nov-20
Master Henry Ltd
£19,310
Micro
Revenue investment to support R&D or Innovation
Total for GTI scheme
£403,222
New Anglia Visitor Economy Grant (VEG)
Grant Approvals April 2020 to March 2021 (scheme started in September 2020)
Date
Grant
Business
Company Name
Reason for Support
Approved
Awarded
Size
Sept-20
Aldeburgh Food and Drink Festival CIC
£2,846.00
Micro
Revenue investment to support business growth
Sept-20
The Mindful Cook
£2,977.00
Micro
Revenue investment to support business growth
Sept-20
Starlight Concerts Live (Entertainment) Ltd
£3,000.00
Micro
Revenue investment to support business growth
Sept-20
Kerry Ellis t/as Epic Event Hire
£2,999.00
Micro
Revenue investment to support business growth
Sept-20
Shaunandmartin Ltd t/as The Virginia Court Hotel
£2,022.00
Micro
Revenue investment to support business growth
Sept-20
S Lay & N Roe t/as Hay Hay
£2,900.00
Micro
Revenue investment to support business growth
Sept-20
Andrew Patton t/as Cycle Breaks, Suffolk Cycle Breaks & Walking Breaks
£2,665.83
Micro
Revenue investment to support business growth
Sept-20
Turner-Mann Enterprises Ltd
£3,000.00
Micro
Revenue investment to support business growth
Sept-20
BritPark Leisure Limited t/as Play2day
£2,795.00
Small
Revenue investment to support business growth
Sept-20
Justine Paul t/as Suffolk Market Events
£3,000.00
Micro
Revenue investment to support business growth
Sept-20
H. E. Hipperson Limited
£2,749.59
Micro
Revenue investment to support business growth
Sept-20
Peter Williamson t/as The Old Penny Arcade
£2,446.56
Micro
Revenue investment to support business growth
Sept-20
House of Mutt LLP
£2,897.92
Small
Revenue investment to support business growth
Sept-20
Reubjon Ltd t/as Farmer Freds
£2,565.00
Small
Revenue investment to support business growth
Oct-20
Woodbridge Tide Mill Charitable Trust t/as Woodbridge Tide Mill Museum
£1,536.77
Small
Revenue investment to support business growth
Oct-20
Jason Elmer t/as Fresh Look Catering
£1,516.99
Micro
Revenue investment to support business growth
Oct-20
Ringshall Grange
£3,000.00
Small
Revenue investment to support business growth
Oct-20
Hilltop Experiences t/as Hilltop Outdoor Centre
£2,670.00
Small
Revenue investment to support business growth
Oct-20
Bury St Edmunds Association of Registered Tour Guides
£2,900.00
Micro
Revenue investment to support business growth
Oct-20
Stephan Genovese T/as The Pitstop
£3,000.00
Micro
Revenue investment to support business growth
Oct-20
Fat Teds Events Ltd
£2,856.80
Micro
Revenue investment to support business growth
Oct-20
Woodbridge Riverside Trust
£2,902.80
Small
Revenue investment to support business growth
Oct-20
Explore 4X4
£2,839.00
Micro
Revenue investment to support business growth
Oct-20
Lal Bagan Ltd T/as Tamarind
£2,999.00
Micro
Revenue investment to support business growth
Oct-20
St EdmundsBury Cathedral Enterprises Limited
£2,000.00
Small
Revenue investment to support business growth
Oct-20
Anglian Chauffeur Service
£1,677.00
Micro
Revenue investment to support business growth
Oct-20
River Cruise Resturants T/as Lady Florence River Cruise Resturants
£1,680.00
Small
Revenue investment to support business growth
Oct-20
Fired Up Food Limited
£3,000.00
Small
Revenue investment to support business growth
Oct-20
Toby Jug Management Services Ltd trading as The Garden House.
£3,000.00
Micro
Revenue investment to support business growth
Oct-20
Mark Jolly Promotions Limited
£2,994.00
Micro
Revenue investment to support business growth
Oct-20
Art Safari Limited t/as Art Safari/Art Safari Editions/Close Encounters Travel
£2,499.00
Micro
Revenue investment to support business growth
Oct-20
Copdock Kennels
£2,785.00
Micro
Revenue investment to support business growth
Oct-20
Labyrinth Norwich Limited
£3,000.00
Micro
Revenue investment to support business growth
Total VEG scheme £87,720.26
New Anglia Wider Economy Grant (WEG)
Grant Approvals April 2020 to March 2021 (scheme started in September 2020)
Date
Grant
Business
Company Name
Reason for Support
Approved
Awarded
Size
Sep-20
Cheddar Creative Limited
£2,899.00
Micro
Revenue investment to support business growth
Sep-20
Farrow Associates
£2,898.00
Micro
Revenue investment to support business growth
Sep-20
Haven Port Yacht Club
£1,932.00
Micro
Revenue investment to support business growth
Sept-20
The Willmaker Group Limited
£2,997.00
Micro
Revenue investment to support business growth
Sept-20
EggCup Web Design Limited
£2,545.00
Micro
Revenue investment to support business growth
Sept-20
Nigel Keeble
£1,028.82
Micro
Revenue investment to support business growth
Sept-20
Paul Nixon Photography
£2,955.00
Micro
Revenue investment to support business growth
Sept-20
Debenvale
£3,000.00
Small
Revenue investment to support business growth
Sept-20
Box River Studios
£2,865.83
Micro
Revenue investment to support business growth
Sept-20
PX2
£2,895.33
Micro
Revenue investment to support business growth
Sept-20
Grant Nurden
£2,347.00
Micro
Revenue investment to support business growth
Sept-20
The Marketing Copywriter
£1,829.00
Micro
Revenue investment to support business growth
Sept-20
Building Partnerships Limited
£1,722.68
Micro
Revenue investment to support business growth
Sept-20
Production Services Entertainment Limited
£2,874.58
Micro
Revenue investment to support business growth
Sept-20
Hot Gossip (East Anglia) Limited t/as Hot Gossip Media
£2,930.00
Micro
Revenue investment to support business growth
Sept-20
Aylsham Community Gym (2) - Annette Marsh
£2,299.00
Micro
Revenue investment to support business growth
Sept-20
Herring Bone Design Limited
£2,928.00
Micro
Revenue investment to support business growth
Sept-20
East Coast Accounting Limited
£2,708.27
Micro
Revenue investment to support business growth
Sept-20
Morton's Event Hire Ltd
£3,000.00
Micro
Revenue investment to support business growth
Sept-20
Imogen Clarke t/as Inspire Personal Training Studio
£2,997.99
Micro
Revenue investment to support business growth
Oct-20
David Palmer (Birds i Images)
£2,923.64
Micro
Revenue investment to support business growth
Oct-20
Elizabeth Cullen
£2,466.98
Micro
Revenue investment to support business growth
Oct-20
Lisa Mason School of Dance
£2,981.01
Mirco
Revenue investment to support business growth
Oct-20
Angela Rowe School Of Dance
£2,832.00
Mirco
Revenue investment to support business growth
Oct-20
Active Fakenham Limited
£3,000.00
Mirco
Revenue investment to support business growth
Oct-20
Tracey Curl ta Norwich Hypnotherapy
£1,396.00
Micro
Revenue investment to support business growth
Oct-20
Liam Bailey Limited
£2,976.00
Micro
Revenue investment to support business growth
Oct-20
Nick Webster
£2,698.00
Micro
Revenue investment to support business growth
Oct-20
GLF Steel Limited
£2,933.00
Micro
Revenue investment to support business growth
Oct-20
Money Properties Limited
£2,254.86
Micro
Revenue investment to support business growth
Oct-20
Simply C Photography
£3,000.00
Micro
Revenue investment to support business growth
Oct-20
Clarick Cleaning Limited
£2,929.97
Small
Revenue investment to support business growth
Oct-20
Paul Nixon Photography (2)
£2,955.00
Micro
Revenue investment to support business growth
Oct-20
Mrs Lindsay Want-Beal Trading as Xtrahead
£2,865.00
Micro
Revenue investment to support business growth
Oct-20
Pierrot Limited Trading as Pierrot Stationers
£2,526.00
Micro
Revenue investment to support business growth
Oct-20
Find A Job (East Anglia) Limited
£2,689.86
Small
Revenue investment to support business growth
Oct-20
Simon Greene Associates Limited
£3,000.00
Micro
Revenue investment to support business growth
Total WEG scheme £98,079.82
Innovative Projects Fund - 2018 Projects Call
Programme Overview - What is the Innovative Projects Fund
The Innovative Projects Fund is a revenue grant programme that provides funding towards innovative projects to support the delivery of the themes and activities identified in the
Economic and Local Industrial Strategies. The first call of the Innovative Projects Fund was made in October 2018 with a remit to facilitate innovative projects supporting economic
growth and the delivery of the Economic Strategy utilising revenue from the Enterprise Zone Pot C.
What is the Overall Programme Status?
Overall:
Green
7 out of the 7 projects have Offer Letters.
Delivery:
Green
7 out of 7 projects are now in their delivery phase. The Ipswich Cornhill Project has been completed.
Spend:
Green
Profiled Spend to the end of 2020/21 Quarter 3 is £267,057. Actual Spend to date is £224,758.97 (41.62%).
Outputs:
Green
No accumulated outputs were forecast by the end of Quarter 3.
What are our Key Updates?
•There are 7 projects under the 2018 call of the Innovative Projects Fund with a combined allocation and commitment of £539,531.
•The value of claims for the first year (2019/20) was 140,001.15.
•Profiled Spend to the end of Quarter 3 2020/21 was £267,057. Actual Spend to date is £224,758.97 (41.62%).
•The profiled spend for Quarter 3 was £69,105.24, actual spend for the quarter was £23,719.
•£84,757.82 has been claimed so far in this financial year. The total project spend to date is £476,299.14
•Public match funding of £138,704 and Private match funding of £112,836 has been recorded.
What is our Financial Position?
Financials (£ million)
Forecast
Actual
Forecast
Actual
Actual
Actual
Actual
Forecast
Financial Year
2019/20
2019/20
2020/21
Q1-20/21
Q2-20/21
Q3-20/21
Q4-20/21
2021/22
Brought Forward
0.000
0.400
0.400
0.391
0.339
0.203
LEP Allocation
0.540
0.540
0.000
0.000
0.000
0.000
0.000
Spend [Act/Fcst]
0.170
0.140
0.197
0.009
0.052
0.024
0.203
Committed
0.170
0.000
0.197
0.188
0.136
0.112
0.203
Carried forward
0.369
0.400
0.203
0.391
0.339
0.315
0.000
2020/21 Expenditure
600,000.00
500,000.00
400,000.00
300,000.00
200,000.00
100,000.00
-
2019/20
Q1-20/21
Q2-20/21
Q3-20/21
Q4-20/21
2021/2022
Axis Title
Qtrly Forecast
Qtrly Claims
Available IPF
What is our contribution to the Economic Strategy?
Quarter/ year:
3 (Oct - Dec) 2020
Programme Target
Outputs - cumulative from April 1st 2019 to 31st Dec 2020 (Quarter 3)
Actual to date
to 2021
Number of Direct Full-Time Jobs Created
1
65
High Value Jobs created
1
59
Number of Jobs Safeguarded
10
60
Number of businesses created
0
12
Number of Businesses Supported (at least 12 hrs of support)
25
94
Number of Learners
0
49
Number of businesses created
0
41
Number of part time jobs created
4
0
What is the Project Delivery Status?
Building Supply Chains - NCC: This full grant award has now been paid to this project. The project has been suspended during the COVID Restrictions and delay of the offshore
Vattenfall development. The project has so far, provided 25 businesses with at least 10 hours of support each. Public match funding of £5,298.39 and private match funding of
£20,220.35 has been spent to date. The project is now being brought back under a new name ‘Gearing Up to Grow’ led by a partnership of NCC and EEEGR.
The Ipswich Cornhill Action Plan- Ipswich Central: A claim of £23,712.05 was submitted late for Quarter 3 and a further claim of £2,032.95 was paid in Quarter 4. This project has
been completed. The project attracted £57,391.41 in Public Match Funding and £34,301.74 in Private Match funding. It created 62 new events in the Cornhill, increased dwell time by
9.75% and created a 27.75% increase in visits to the area.
Growing the Year-Round Economy - Visit East of England: A 4th claim was paid in quarter 3 totalling £16,844.28. Two data stewards and administrator are now facilitated in an
office with the Affinity Agency who are developing the website. This gives them instant access to developers and client manager and help speed their work. The accommodation
booking API is now functional and VEE is working with partners ‘Staylists’ to encourage more accommodation venues to sign up.
The Catapult - The Catapult Network: The Catapult - The Catapult Network: The new post holder, Andy Holyland based at Orbis Energy in Lowestoft started on 1st January 2020. 3
claims have been paid to date totalling £20,814. The same total of Private Match has been recorded. A 4th Claim is expected in the second week of January 2021 for £6,875.
Norfolk & Suffolk Offshore Wind Competitiveness Positioning Programme - GYBC: A first claim has been received evidencing total expenditure of £108,437. £32,422 has been
paid to GYBC. The claim highights Local Authority match funding of £27,499 and other public match of (Pot B)
£48,514.
Fit for Nuclear - West Suffolk College: The project started in 2020. However, due to COVID and Sizewell still awaiting the Final Investment Decision (FID) this project has not
progressed as well as hoped. The project lead (WS College) has indicated that they are confident that there will be an announcement on Sizewell in March/April 2021 and Sizewell will
get its FID. Phil is confident the flood gates will then open for companies who will want to prepare themselves for the new build.
Creating Creative Capital - NUA: This project was re-approved by the IAC in October 2019. The project has submitted a signed offer letter and has claimed £20,000 to kick start the
project. This project is being paid in stages. The next payment of £70,000 is expected to be paid in April 2021. A monitoring report has been recieved for the first quarter.
What are the Next Steps?
The Programmes Case Worker for the IPF Programme is working with Project Leaders of the 2018 project call to ensure claims and associated monitoring reports are received for
Quarter 4 of 2020/21.
Innovative Projects Fund - 2019 Projects Call
Programme Overview - What is the Innovative Projects Fund
The Innovative Projects Fund is a revenue grant programme that provides funding towards innovative projects to support the delivery of the themes and activities identified in the
Economic and Local Industrial Strategies. The second call of the Innovative Projects Fund was made in October 2019 with a remit to facilitate innovative projects supporting
economic growth and the delivery of the Economic Strategy utilising revenue from the Enterprise Zone Pot C.
What is the Overall Programme Status?
15 out of the 18 projects have Offer Letters. 2 projects are finalising details prior to Offer Letter stage and the 3rd (SCC Transport
Overall:
Green
Innovation Hub) is yet to return a re-profile sheet.
Delivery:
Green
15 out of 18 projects are now in their delivery phase.
Profiled Grant Spend to the end of Quarter 3 (2020/21) was £462,836. Actual Spend to the end of Quarter 3 was £164,954.73. Additional
Spend:
Amber
payments were made the first week of quarter 4 bringing total grant claims to £174,186.59. The majority of projects have started delivery in
this quarter therefore accelerated spend is expected.
Outputs:
Green
No accumulated outputs were forecast by the end of Quarter 3.
What are our Key Updates?
•18 projects have a combined allocation of £1,522,372.
•15 projects now have their Grant Offer Letters and have commenced.
•£174,186.59 has been claimed so far in this financial year.
•Private match funding of £26,450 and public match funding of £128,962.67 has been recorded.
What is our Financial Position?
Financials (£ million)
Forecast
Forecast
Actual
Forecast
Actual
Forecast
Actual
Forecast
Actual
Financial Year
2020/21
Q1-20/21
Q1-20/21
Q2-20/21
Q2-20/21
Q3-20/21
Q3-20/21
Q4-20/21
Q4-20/21
Brought Forward
1.522
1.522
1.522
1.522
1.306
1.507
1.357
LEP Allocation
1.522
0.000
0.000
0.000
0.000
0.000
0.000
Spend [Act/Fcst]
0.000
0.000
0.000
0.217
0.016
0.246
0.149
0.009
Committed
1.522
1.522
1.522
1.306
1.507
1.060
1.357
Carried forward
1.522
1.522
1.522
1.306
1.507
1.060
1.357
Expenditure
2,000,000.00
1,500,000.00
1,000,000.00
500,000.00
-
Q1-20/21
Q2-20/21
Q3-20/21
Q4-20/21
2021/2022
Axis Title
Qtrly Forecast
Qtrly Claims
Available IPF
What is our contribution to the Economic Strategy?
Quarter/ year:
3 (Oct - Dec) 2020
Programme
Outputs - cumulative from April 1st 2019 to 31st Dec 2020 (Quarter 3)
Actual to date
Target to 2022
Number of Direct Full-Time Jobs Created
1
High Value Jobs created
1
Number of Jobs Safeguarded
Number of businesses created
Number of Businesses Supported (at least 12 hrs of support)
Number of Learners
49
Number of businesses created
No of Businesses Engaged
5
Number of part time jobs created
4
What is the Project Delivery Status?
See Appendix A for roject delivery status.
What are the Next Steps?
The Programmes Case Worker for the IPF Programme is working with Project Leaders of the 2019 project call to ensure claims and associated monitoring reports are received for
Quarter 4 of 2020/21.
Appendix 1 - Innovative Projects Fund - Q3 2020-21 Programme Performance Report
Below is an update on all Innovative Projects Fund ‘2019 Call’ Projects, reflecting the
‘Project Delivery Status’ section of the Programme Performance Report.
Ref
Status
Project Name & Project Update
Offer
Letter
Signed &
Returned?
IPF-19-1
GREEN
NCW - Collaboration: Place: Change
Y
Percentage of grant Claimed: 10.43%
The National Writing Centre has submitted its first claim for £7,564.93. The
project has created 2 P/T posts and has so far achieved 15 leadership
qualification /learner outputs.
IPF-19-2
AMBER
East Suffolk - East Suffolk Smart Towns.
Y
Percentage of grant Claimed: 0%
In early November, the East Suffolk Team launched their pilot Digital Advice
Service. The pilot will enable an insight for the larger
‘springboard’
programme that forms part of the Innovative Projects Bid for East Suffolk
Smart Towns. This pilot programme will run for approx. 3 months, support
200 businesses and also have a small grant scheme attached. It is primarily
being marketed to consumer facing business such as retail, salons, indie
pubs/restaurants and food/drink/consumer product makers.
The project has not made a claim yet.
IPF-19-3
RED
UEA - Sunrise Coast - Seed corn.
N
Percentage of grant Claimed: 0%
The project has been completed (prior to signing the Offer Letter). The
project should have created two new, fixed term, part time, positions within
the UEA. However, the project timeframe was constricted due to the late
release of the UKRI Strength in Places programme guidance and earlier
submission requirement. The UEA took the decision to hire consultants to
undertake delivery. That said, the eventual total project value was closer to
£32 million (original estimate £20million) and if successful will lead to the
direct creation of 21 jobs for the region as part of the programme and with
the potential to support the creation of many thousands of additional high
value jobs. We are awaiting a project expenditure breakdown to assess
whether we can support the project given its different profile and output.
IPF-19-4
GREEN
SCC - Culture Drives Growth
Y
Percentage of grant Claimed: 11.11%
The New Anglia LEP Culture Board has Commissioned Tom Fleming Creative
Consultancy to deliver the development of the Cultural Strategy.
A claim for £1,666.66 has been submitted and paid.
IPF-19-5
GREEN
Y
Netmatters - SCION Project
Percentage of grant Claimed: 44.25%
The project is the furthest along and has now submitted 2 claims to the
value of £44,250. The value of Match Funding to date is £51,000 and it has
created 19 learner positions/opportunities.
IPF-19-6
RED
South Norfolk DC - SETI
N
Percentage of grant Claimed: 0%
Awaiting match funding confirmation before proceeding to Offer Letter
Stage.
IPF-19-7
AMBER
Innovation Labs Stowmarket
Y
Percentage of grant Claimed: 0%
Awaiting a first claim from this project. The project has advertised the
availability of subsidised space and training at the hub.
IPF-19-8
AMBER
CNTC - NAAME
Y
Percentage of grant Claimed: 0%
Led by Broadland District Council - the project is underway, and the first
claim is now due.
IPF-19-9
RED
NCC - Norwich Good Economy Project
N
Percentage of grant Claimed: 0%
Awaiting confirmation of the funding package and then this project will be
sent an Offer Letter.
IPF-19-10
RED
SCC - Innovation Hub within Transport Strategy
N
Percentage of grant Claimed: 0%
Awaiting information from Suzanne Buck.
IPF-19-11
GREEN
TCHC - VG Incubator
Y
Percentage of grant Claimed: 42.14%
This project is progressing well. There were a few teething problems that
have now been ironed out. There are 28 students on the programme at
present. The target for the project is 80. The project is receiving very
good feedback - notably one team of students will be meeting with games
giant ‘Ubisoft’ to discuss their Indie game.
IPF-19-12
GREEN
NCC - Innovate UK Mentoring Project
Y
Percentage of grant Claimed: 52.88%
This project will submit its first claim come the end of January. An upfront
payment was made in December talling £50,760. The project is progressing
well. A panel of businesspeople with Innovative grant success have been
enlisted to support forthcoming Innovate UK applicants.
IPF-19-13
AMBER
Coderus - LOCKE
Y
Percentage of grant Claimed: 0%
This is a private sector led project that expressed a wish to delay the
project by 6 months due to COVID. The Growth Hub is now in touch with
Coderus regarding starting the IPF project.
IPF-19-14
GREEN
Catapult - F4ORE
Y
Percentage of grant Claimed: 17.13%
The project has made a first claim and identified the 10 businesses to start
the Fit 4 Offshore qualification. The project has benefited from addition
NSF grant funding too to increase the number of businesses by 5.
IPF-19-15
GREEN
BCKLWN - GAME ON
Y
Percentage of grant Claimed: 7.03%
The project has made a first claim. The core team has been hired and pre-
production work has commenced. Production should start in December
/January. The project manager has noted efficiency has improved since
remote working became the norm. The second claim has been submitted.
IPF-19-16
GREEN
First Light Lowestoft
Y
Percentage of grant Claimed: 2.76%
The project has made a first claim. A comprehensive communications plan
has been created. The project has been marketing and delivering comms
for the Fiery Sun Winter Solstice event which will be produced on the
weekend of the 12th December to be streamed over the solstice weekend
on the 19/20/21st December.
IPF-19-17
AMBER
NCC - Celebrating Culture
Y
Percentage of grant Claimed: 0%
Awaiting first claim due end of January.
IPF-19-18
AMBER
ICM - Ipswich Cornhill
Y
Percentage of grant Claimed: 0%
Awaiting first claim.
Business Resilience and Recovery Programme
Programme Overview - What is the Business Resilience and Recovery Programme.
The Business Resilience and Recovery Scheme provides support to businesses in Norfolk and Suffolk that have been affected by the Covid-19 Coronavirus and are looking at ways to
recover and strengthen their business performance. Companies applying under the scheme can apply for a 50% grant towards capital costs involved in initial resilience and future
recovery of their business. A grant of £25,000 up to a maximum of £50,000 is available to support projects.
Figures reflect the period to 08/01/2020.
What is the Overall Programme Status?
The Business Resilience and Recovery scheme has supported 112 businesses to date.
105 businesses have received their first payments and
Overall:
Green
41 have had their final payments.
The first tranche of funding for the programme (from the LGF) is now fully committed. Expenditure of the LGF was due by the end of the calendar
Delivery:
Green
year (LGF - £3,500,000). The programme has now started allocating funds from the Get Building Fund allocation (£2,623,680).
£ 4,315,098 has been awarded to 112 projects, representing 70.47% of the total programme budget. £2,714,020 has been paid out to 105
Spend:
Green
businesses (41 of which have had their final payments).
£ 4,315,098 has been awarded to 112 projects. The has enabled 112 businesses and their associated supply chains to start the journey to
Outputs:
Green
recover from the consequences of COVID-19 restrictions. 182 FTEs have been created and 2532.5 FTEs have been safeguarded.
What are our Key Updates?
•The Business Resilience and Recovery Scheme was launched on Monday 4th May and the scheme has proved popular with several enquiries already being handled, developed and
progressed through the Growth Hub.
•112 businesses have now been supported, the most recent being 'An Accounting Gem', awarded £25,501.
•Total R&R grant value awarded to date is £4,315,098 with a total projects value of £10,938,322.09. Private match of £6,623,674.09 has been committed. £2,714,020 has been paid
out to 105 businesses (41 of which have had their final payments).
•Investment in these 112 businesses will create 182 FTEs and safeguard 2532.5.
•Of the 112 businesses supported, 70 are in Norfolk (£2,641,507) and 42 are in Suffolk (£1,673,591).
What is our Financial Position?
Financials (£ million)
Forecast
Actual
Actual
Actual
Actual
Financial Year
2020/21
Qtr 1 2020/21
Qtr 2 2021/22
Qtr 3 2021/22
Qtr 4 2021/22
Brought Forward
0
0
LEP Allocation
£3,500,000.00
£3,500,000.00
£2,709,864.00
£3,144,185.00
Spend [Act/Fcst]
£3,500,000.00
£290,639.00
£1,047,528.00
£1,375,853.00
Committed
£3,500,000.00
£790,136.00
£2,189,359.00
£1,335,603.00
Carried forward
£3,500,000.00
£2,709,864.00
£520,505.00
£1,808,582.00
This figure combines the balance of the
LGF (£520,505) and the additional
Business Resilience and Recovery Programme
£2,623,680 from the Get Building Fund
£4,000,000.00
£3,000,000.00
£2,000,000.00
£1,000,000.00
£0.00
Q1-20/21
Q2-20/21
Q3-20/21
Q4-20/21
Axis Title
Qtrly awarded
Qtrly Claims
R&R Budget Allocated
What is our contribution to the Economic Strategy?
Quarter/ year:
Outputs - cumulative from April 1st to 09/11/2020
Actual Qtr 1
Actual Qtr 2
Actual Qtr 3
Actual Qtr 4
Total
Number of Direct Full-Time Jobs Created
10
40
132
182
Number of Direct Full-Time Jobs Safeguarded
706
1,180
647
2532.5
Private Match (£)
£1,221,274.00
£3,431,035.00
£1,971,365.00
£6,623,674.00
Public Match (£)
£0.00
£0.00
£0.00
£0.00
Commercial Floor Space (SqM)
TBC
TBC
TBC
What is the Project Delivery Status?
LGF Committed = £3,504,706 (Allocating grant awards in full to one fund means that the total exceeds £3,500,000 LGF allocation slightly).
•90 businesses supported in total
•55 businesses in Norfolk (£2,075,176)
•35 businesses in Suffolk (£1,429,530)
Getting Building Fund Committed - £810,392
•22 businesses supported in total
•15 businesses in Norfolk (£566,331)
•7 businesses in Suffolk (£244,061)
What are the Next Steps?
Qtr 4 - The Growth Hub will continue to signpost, develop and progress R&R applications to the Finance East's Due Diligence Team. Regular Team meetings are held to review
processes and suggest improvements to the scheme and its wider dissemination and take up.