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Al newsletter summer 2018

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Al newsletter summer 2018

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Here is an e-copy of our Summer Newsletter. The World Cup is still on but we don’t want to tempt providence by saying anything else! We hope you enjoy it and have a go at the crossword. If you would like a hard copy of the newsletter in future, do please let us know

Here is an e-copy of our Summer Newsletter. The World Cup is still on but we don’t want to tempt providence by saying anything else! We hope you enjoy it and have a go at the crossword. If you would like a hard copy of the newsletter in future, do please let us know

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Al newsletter summer 2018

  1. 1. QUOTES OF THE QUARTER “ SUMMER2018 PROFESSIONAL ACCOUNTANTS PROVIDING PROFESSIONAL TRAINING Grab a cup and take time out to take account of what is going on… time“DON’T THEY REALISE IT’S ALL OVER….. OR IS IT?” As I write this, England are basking in the afterglow of a 6-1 result against Panama (and a scary 2-1 win against Tunisia), with Belgium lined up on Thursday. By the time you read this Newsletter it will probably be all over. A team is only as good as its last game – or even the one it is currently playing. A remarkable number of games are won or lost in the dying minutes of injury time. Until the final whistle, there is always hope and it’s never too late to try something different. Good teams learn from the mistakes of their previous games. Better teams learn from the mistakes earlier in the same game – and do something about it. Constant review, reflection and compensating action is key. The same is the case in one’s studies. A set of bad marks in a progress test is a chance to learn and improve, avoiding the same mistake again. A poor appraisal is a chance to reflect on what, why and how and to really get it nailed the next time. Much better to make mistakes when learning than later on, when your PI policy might be on the line. Don’t get down, get better! Every week is a learning opportunity, not just for clocking 37.5 hours. At the end of each week (each day?), students should reflect on what they have learned and how they can apply this now and to next week and the week after. They should not just be “producing”, they should be developing their “production capability”. Our job (and yours!) is to help them do that – to help them win not just next week, but this week too. So, has each line manager scheduled time to provide that feedback and learning to ensure that this week is a win and not just the hope of a win next week? P.S. Many thanks to those who sent in their predictions for the World Cup results. There is clearly more interest in football than in accounting!?! Notes from the Directors Spotlight on Apprenticeships 2 Making More of Me! Profit and Loss Account Balance Sheet On the Recruitment Front 5 News from ALHQ The Cat’s Clause 6 Small Talk Staff Spotlight The Rumour Room ICAEW South West News 7 Crossword Answers The SWAT Column How did that word… Notes to the Accounts Employer Spotlight 8 Simon’s Cryptic Crossword Ask Us Next Issue www.accountancylearning.co.uk • E: study@accountancylearning.co.uk Southernhay Lodge, Barnfield Crescent, Exeter EX1 1QT T: 01392 311930 @AccountancyL AccountancyLearning If you want something you never had, you must be willing to do something you’ve never done Benjamin Franklin Success is not final, failure is not fatal. It is the courage to continue that counts. Winston Churchill Life is ten percent what happens to you and ninety percent how you respond to it. Charles Swindoll The Accountancy Learning Team: Left to right: : Eleanor, Chrissy, Ruth, Annie, Simon, Kate, Jenna, Antonio, Robert, Prue, Amber, Dale AAT News and Updates 3 Student Spotlight Business Focus 4 Did You Know...
  2. 2. 2 Notes from the Directors Spotlight on Apprenticeships Part 1 In the last newsletter we explained some of the skills, knowledge and behaviours that apprentices are required to develop over the period of their apprenticeship – and on which they will be assessed in their End Point Assessment. Goal 7: Communication: “Works both independently and as part of a team within the organisation’s standards; competently demonstrates an ability to communicate both in writing and orally at all levels, using a range of tools and demonstrating strong interpersonal skills and cultural awareness when dealing with internal and external customers. Demonstrates the ability to communicate financial information in a way that non-finance staff can interpret and understand” Crikey, that’s a tall order! I know I am old and grumpy but there are a lot of kids leaving school who do not have the greatest command of the English language or how to spell it. To them, Grammar is simply the person who is married to Grampar!?! Lots of our learners, when asked why they want to be an accountant, say it’s because they were good at Maths at school. Over the period of their training, they realise that the job of the accountant is to translate the numbers that are in a set of accounts into words that their clients will understand. The more practice they can get in the office in drafting professional correspondence, the better. Goal 15: Productivity: “Organises work effectively and achieves required results within deadlines. Performs professionally in pressurised situations and escalates appropriately where necessary.” I know hundreds of accountants around the country. The ones who are most successful aren’t necessarily the most technically able – they are the ones who are the most organised. They make sure that they and their team know how many chargeable hours they need to achieve and with what recovery rate and they make the time to ensure everybody meets these targets. Does your apprentice; and do they have time to spare to offer their help and energy to take on additional tasks? Making More of Me! Traction by Gino Wickman “This book is a must for any business owner and their management team. TRACTION provides a powerful, practical, and simple system for running your business.” DAN SULLIVAN President and founder, The Strategic Coach All entrepreneurs and business leaders face similar frustrations—personnel conflict, profit woes, and inadequate growth. Decisions never seem to get made, or, once made, fail to be properly implemented. But there is a solution. It’s not complicated or theoretical. The Entrepreneurial Operating System® is a practical method for achieving the business success you have always envisioned. More than 2,000 companies have discovered what EOS can do. In Traction, you’ll learn the secrets of strengthening the six key components of your business. You’ll discover simple yet powerful ways to run your company that will give you and your leadership team more focus, more growth, and more enjoyment. Successful companies are applying Traction every day to run profitable, frustration- free businesses—and you can too. A terrific book – Dan Sullivan’s quote sums it up perfectly. Having read (and started implementing it), we are now listening to it a second time! P.S. ‘Audible’ in the car works a treat on those long journeys as well as the daily commute! These are also things that you will benefit from them developing and applying in their day to day work. In fact, the apprentice’s line manager will be asked to “sign off” each goal in their portfolio to confirm that they are satisfied that the apprentice has displayed these competences at work. Here are a couple more of the skills and behaviours that your apprentices should be developing at Level 3:
  3. 3. 3 PROFIT AND LOSS ACCOUNT AAT NEWS AND UPDATES Spotlight on Apprenticeships Part 2 Here are a couple more of the skills and behaviours that your apprentices should be developing at Level 4: Goal 3: Leadership “Proactively manage their own development and is committed to the job and their profession” Leadership sounds a strange title to give this goal as it is more about directing one’s own development than that of others. Nonetheless, the goal is a valid one. You don’t want your apprentices to think that they are simply employed for the purpose of you providing them with a qualification. Do they “own” their qualification, their training? Are they hungry for it? Do they wait for you to tell them what to do or do they tell you that they are ready to take on more work and more responsibility? Do they go that extra mile? Do they keep you up-to-date on the progress of their studies and discuss the next steps? Are they able to evaluate their own performance and have they taken steps to improve, or maintain it? Goal 12: Professional Scepticism “Demonstrates an attitude that includes a questioning mind, being alert to conditions that may indicate possible misstatement of financial information due to error or fraud” When your apprentice completes a piece of work or a set of draft accounts with supporting file, have they performed some form of analytical review / reality check to confirm that the figures all make sense. Do they set an expectation of what the figures should be, before they produce them, so they can properly compare the actual results with their expectation, rather than base their expectations on the actual results? Are they able to ask probing questions? Are they able to assess the risk of (and reasons for) potential errors? Is there a reason why someone would want to manipulate the figures? P.S. None of these goals are relevant only to apprentices. They are relevant to all of your technical staff. Think about adapting some of them into your appraisal process. STUDENT SPOTLIGHT ...on EMMA COLES “When I was 17 years old, I went to an Accountancy firm for 2 weeks work experience. I hated every minute! I thought being sat down in front of computer all day just wasn’t for me. After finishing my diploma in Business Studies, I went and worked in business starting at the bottom, answering the phone and taking bookings. I worked in every department, including sales, to then end up in the finance department. I loved it, computers weren’t boring after all. I wanted to learn more, so I started Level 2 AAT with Accountancy Learning. After finishing my Level 2, I decided I needed to go travelling before I settled down in my career choice. Eight months later I return to the UK to find a job in practice, as I found I really did like working with numbers after all! I have completed Level 3 and am now onto Level 4. I have found studying hard work, trying to find the energy and time hasn’t been easy, but after completing the first exam of Personal Tax, I am now motivated to get my head down and crack on with the rest. I am very excited for the future; with MTD (Making Tax Digital) starting in April 2019, I have been very involved at work with encouraging our clients to move to the cloud and making sure they are ready for the changes ahead.” Editor’s note: Yes – Emma is the daughter of Trudi Coles, the ICAEW Regional Executive, South West!
  4. 4. 4 BUSINESS FOCUS Could Communication Skills Win the World Cup? Whether you’re excited about a month of football, or busy avoiding it, the communication skills of managers, captains and players will be a major part of a team’s success, and those skills are just as important in business. Bringing in players from different clubs is a challenge for any manager as they form a squad. In an interview for the Independent before the team left for Russia, England Manager, Gareth Southgate talked about “The togetherness of the group and a closer connection on the pitch as well as away from it”. This is the same for any organisation which is much stronger when everyone works together, but that’s easier said than done. Leading the England squad is Harry Kane and according to Southgate; “Harry is a meticulous professional. One of the most important things for a captain is that they set the standard every day”. However, he added; “England won’t become a top team by just having a good captain with good values. That has to spread right throughout the group.” Good practice and communication starts at the top of an organisation with senior management setting the standard every day. Just like managers in a company, Football coaches have to understand individual differences, whilst balancing the needs of individuals, the team and their own. Communication is often taken for granted and people don’t always stop to think about what they’re communicating. Be spoken or written, or through body language and facial expressions, everyday social exchanges are shaped by numerous factors, such as personality and environment. The behaviour we exhibit, our actions, or lack of them, speak volumes. When we’re under pressure, communication can be one of the first things to go. Recognising the value of two-way communication Gareth Southgate said of his team; “ We’re asking them to open up quite a bit on their own feelings about things. We asked them to open tactical discussions and they know that they can have an input.” Good communication is a skill that can be developed and is an important factor in creating a more effective and cohesive team whether it’s in the office or on the pitch. It isn’t just about organising your team, pointing out problems and giving instructions. It’s about building people up as well. Legendary manager Alex Ferguson explained how powerful encouragement can be: “Few people get better with criticism; most respond to encouragement instead. I tried to give encouragement when I could. For a player, for any human being, there is nothing better than hearing “Well done.” Those are the two best words ever invented.” Sir Alex knew how positive communication motivates players on the pitch. How true that is in business as well. PROFIT AND LOSS ACCOUNT Did you know... A FEW INTERESTING FACTS FOR FOOTY FANS: • The largest Football tournament saw no less than 5,098 teams. They competed in 1999 for the second Bangkok League Seven-a-Side Competition. Over 35,000 players participated. • Football goalies didn’t have to wear different coloured shirts from their teammates until 1913. • Worldwide, there are 27 professional football clubs that take a Beatles song as their nickname; Villarreal in Spain being the most famous (the Yellow Submarines). • It is said that British referee Ken Aston actually got the idea of the red and yellow card while being stuck in traffic by a traffic signal. It was then he got the idea of assigning a yellow card to caution players and a red card to send them off. • The maximum number of goals scored by one player in a single Football match was 16. It was scored by Stephan Stanis (France) playing for Racing Club de Lens in December 1942. JOKE OF THE QUARTER Flying Bottles At a local derby between Arsenal and Spurs last season, a spectator suddenly found himself in the thick of dozens of flying bottles. “There’s nothing to worry about, lad,” said the elderly chap standing next to him... “It’s like the bombs during the war. You won’t get hit unless the bottle’s got your name on it.” “That’s just what I’m worried about...,” said the fan,”...my name’s Johnny Walker.” Teabag What’s the difference between England and a teabag? The teabag stays in the cup for longer! One line howlers… • It was really difficult for us, playing in the midday sun with that three o’clock kick-off. DAVID BECKHAM • I’d be surprised if all 22 players are on the field at the end of the game - one’s already been sent off. JIMMY GREAVES • I can see the carrot at the end of the tunnel’. STUART PEARCE Alastair has over 25 years’ experience as a speaker and TV Presenter. As a communications expert he delivers a range of keynote speeches as well as leading insightful, interactive and inspiring workshops in confident communication. More information available at www.presentyourself.co.uk
  5. 5. HOLIDAYS FOR STAFF ARE NO HOLIDAY FOR YOU! The wedding season is now upon us, and for at least the last year, the Bride to be has been busily planning venues, searching for the perfect florist, band and wedding dress. But how much of their time is spent browsing online or discussing details with their colleagues during work hours? A clear policy for online activities should be seen, understood and agreed by employees. Banning wedding discussions altogether may dampen the office atmosphere, so why not add an extra ten minutes on to your weekly team meeting dedicated to a wedding catch up? Then the Best Man, Maid of Honour and Chief Bridesmaid are organising the stag and hen weekend to which an email lands in your employees’ inbox and half the team are invited. They all leave on a Friday and with a bit of luck stagger in on Monday rather the worse for wear, and that’s before the wedding. How does the business manage multiple requests for this time off? What about the one employee that got left in Dublin last seen singing ‘The Final Countdown’? Then you may be thrown with the bride and/or groom requesting two weeks or more off for their beloved honeymoon. Managing these holiday requests whilst ensuring your business has adequate staff cover is enough to make you want to take a holiday yourself! The running of your business is your priority, so if an employee wedding may be on the horizon, a discussion of your requirements before all the party planning gets started could save you from a HR headache. For more information, please email debra@hrdept.co.uk 5 BALANCE SHEET HR Dept – Somerset Tel: 0845 634 9164 E-mail: hrteam@hrdept.co.uk Cranmer House, 38 Priory Avenue Taunton, Somerset, TA1 1YA HR Dept – Exeter Tel: 01392 349560 E-mail: exeter@hrdept.co.uk Basepoint Business Centre Yeoford Way, Marsh Barton Exeter EX2 8LB NEWS FROM ALHQ Just a few changes this month – Emma Grant has moved to pastures new and Sandra Matthews has, in her words ‘hung up her boots’ and is already enjoying a happy retirement. In the meantime, a very big welcome to Marc Oelofse who joined us on 1st June as a full time AAT Tutor! You can read more about us all on The Team page of our website! Marc Rainbow Run... Eight of us from ALHQ (yes, including Simon!) took part in the Children’s Hospice South West’s Rainbow Run on Saturday 9 June, and as can be seen from the before and after photos, they throw powder paint at you during the run!! As well as raising £1,155 via our Just Giving page, AL team member Dale Austin came 1st (out of more than 1,400 runners!) A huge thank you to everyone who donated to this wonderful cause, and to family, friends and supporters who joined us on the day. We WON for the 2nd year running!!! The AL Team are over the moon to have won the AATs ‘crème de la crème’ Champion Award (awarded to the training provider that demon- strates excellence in all areas)!
  6. 6. 6 BALANCE SHEET THE RUMOUR ROOM… It isn’t just Basil Brush that says Boom Boom!! Under Regulation 26 of MLR17 (Money Laundering Regulations), from 26th June 2018, ICAEW must approve all newly appointed beneficial owners, officers and managers (BOOMs) in ICAEW supervised firms. Those already on their records as at this date do not need to apply for approval as it will be automatic, assuming they have no unspent criminal conviction. However, ICAEW recommend that DBS checks are undertaken for all BOOMs prior to 26.6.18 And here’s some more footy trivia for you … Baby Boom: The 2006 World cup made Germany experience a baby boom, as just 9 months after the World Cup, birth rate in Germany shot to an amazing 30% higher in comparison to the year before during the same period! Pele: In 1967, the two factions involved in the Nigerian Civil War agreed to a 48-hour ceasefire so they could watch Pelé play an exhibition game in Lagos. Fog: We’re all used to the fog in the UK, but there was a match between two Scottish sides that was a little unusual… The fog was so heavy that it became increasingly difficult for the players to see the ball, partners and rivals. At some point, the referee thought there seemed to be ‘rather a lot of players’ on the field, so he ran to the benches and found that they were empty! The arbitrator immediately interrupted the game - it turned out there were thirty players on the field at the same time! Moon: Neil Armstrong originally wanted to take a football to the moon - but NASA deemed it to be un-American. Messi: It’s well known that Lionel Messi had a medical condition that could have ended his footballing career. Nobody really wanted to take up a player who could potentially die in a football match. But Messi’s family convinced CarlesRexach,(thenBarcelona’s sporting director) to give the young player a chance in the youth team. After watching Messi play for a few seconds, Rexach recognized the talent of this terrific footballer and wanted to sign him immediately, but he had neither a formal contract or a piece of paper with him - all he had was his napkin, so he used this to draft a formal contract to sign him. Anfield Sam! A cat which ran on to the pitch during Liverpool’s Premier League home game against Tottenham Hotspur (2012) became an instant Twitter star! The grey and white tabby wandered across the turf before being scooped up by a steward. Within minutes the cat was an internet sensation with at least three spoof Twitter accounts claiming to be the Premier League’s new star. The cat’s owner was unknown, but staff at Anfield knew it as Sam. Liverpool FC said it bore an uncanny resemblance to Moglet, an THE CAT’S CLAUSE STAFF SPOTLIGHT ... on PETE FREEMAN Pete joined the Accountancy Learning team in 2016 and first got to know us as a student. He is a big fan of the Devon countryside (and cider), and feels at home having grown up in Bath. He completed his Professional Diploma in Accounting with us and is now in the midst of studying ACCA. He loves giving his students helpful advice that he knows that he would have found helpful if in the same situation. Finding out that his students have passed an exam is definitely one of the highlights of the job. He lives in Totnes and enjoys the small town feel as well as swimming in the River Dart! His cats love the wildlife in the area as much as he does, but unfortunately they sometimes take it home with them Likes: I like cooking from around the globe, cycling, walking, travelling the world (all between studying of course!) Dislikes: : I am fairly patient and don’t have too many dislikes. If I were to pick one it would be having to stay indoors for too long. Most embarrassing moment: There are too many to pick from here, but one of them was when I was staying at one of my friend’s houses in Bristol after a night out. I was trying to leave the next morning (everyone else was still sleeping) and managed to lock myself in the porch. Knocking on the door wasn’t enough to wake anyone in the house up. However, the Google Streetview car came past and for a few years I found my fame with an ‘angry Pete’ photo on the internet for that street on StreetView. abandoned cat which became the club’s unofficial mascot in the 80s. Moglet was adopted by the club’s ground staff after being left outside the stadium gates and was considered a lucky omen by both players and staff. SMALL TALK
  7. 7. 7 BALANCE SHEET ICAEW South West News At the ICAEW South West AGM in May, Martin Williams, FD of Rittal UK & Ireland, was anointed as President for the coming year. Martin’s theme for his year is to focus on how the District Society, and wider ICAEW community, can help promote the South West as a place to live and work. We have companies across the region leading the world in defence, aerospace and maritime technologies, supported by training from our highly regarded, local universities. His aim for the year is to link ICAEW members into the work being done by organisations such as Local Enterprise Partnerships and the Mayflower 400 project, in order to support the promotion of the South West as a vibrant and exciting place for people to live and build fulfilling, long term careers. Martin grew up in Devon, went to University here, but then moved away to work and has only recently returned – realising that he needn’t have left in the first place! CROSSWORD ANSWERS (Last Issue) ACROSS: 1. Lincoln Green 5. April Fool’s Day 8. Gander 9. Maundy Money 11. Grand National 12. Hay 13. Neap Tide 15. Easter Egg 17. Silage 18. Boat Race 19. Spring Lamb 20. April Showers DOWN: 2. Equinox 3. Lambert Simnel 4. King Alfred 6. March Hare 7. John Thaw 10. Elephant Grass 14. Lent 16. Snowdrop Many congratulations to Jackie and Della from Bush & Co who won the bottle of bubbly! See page 8 for this quarter’s crossword. Hat Trick: The term first appeared in 1858 in cricket, to describe H. H. Stephenson’s taking of three wickets with three consecutive deliveries. Fans held a collection for Stephenson, and presented him with a hat bought with the proceeds. ‘Trick’, may well have come from the sudden popularity of stage conjurers’ ‘Hat Tricks’, which immediately preceded the first use of the term on the cricket field. The term was also appropriated for the political stage, where Victorian MPs were said to have ‘done a hat trick’ whenever they reserved their seat in the House of Commons by leaving their top hat on it! The term was eventually adopted by many other sports including association football, hockey, water polo and team handball. THE SWAT COLUMN FRS 102 Firms are starting to start to see their second set of FRS 102 S1A accounts for clients and should review them carefully to ensure they properly deal with these common issues: Accounting Policies These should be reviewed to ensure they have been updated for FRS 102 and do not contain text relating to the FRSSE. Any policies that are not relevant (because the area is not material) should be removed. Revalued Assets There is still much confusion about revaluing assets and firms should review this area carefully. In summary, investment properties are revalued through the profit and loss account (and would end up in the profit and loss reserve) but other properties are revalued through Other Comprehensive Income (and the gain would end up in a revaluation reserve). Deferred tax would follow the gain, and so for investment properties would be part of the tax charge for the year. Related Parties Many firms are continuing use the old FRSSE rules for this area and so are disclosing too much. Firms might be arguing that this disclosure is to ensure the accounts give a true and fair view, but this is often not documented on the file. Truth and Fairness Section 1A is clear that directors must ensure accounts give a true and fair view before signing them, and that blindly following S1A might not be sufficient. Firms should therefore ensure they look at each set of S1A accounts and consider if extra disclosure is needed. This might lead to extra related party disclosure as above, but could also involve disclosure of dividends, material uncertainties relating to going concern or indeed extra disclosure on any area. Some firms have adopted the approach of a SOCIE or SOIRE on all sets of accounts to provide more information. However even with this, there should be some consideration of whether other information is needed. Abridged, Filleted or FRS 105 From discussions with firms, very few of them are bothering with Abridged accounts, as it does little to reduce disclosure and they might not be true and fair if certain items are removed. In contrast, most firms are using s.444 to remove the directors’ report and profit and loss account before filing. Interestingly, a good proportion of firms are now offering FRS 105 to their clients, if they qualify, and they do not drop their fees for this as the client will still need extra management information. However, this option does minimise the information on the public record. Whatever option is adopted for filing, this should be discussed with and agreed by the client, rather than the firm enforcing their own preferred approach. David Norris BA FCA Training Director, SWAT UK Limited 0845 450 555 How did that word come about?
  8. 8. 8 NOTES TO THE ACCOUNTS Clues ‘Football World Cup!’ Across: 1. This Jamie will hope to cook up a treat of a different sort for England 3. Will he “part the red sea” to allow Nigeria to march through to the finals? 5. O Roland! You think you’re the best but are you confused? 7. This Harry may be good but he is not Abel 9. A Royal Academician followed by him stands before a castle in Scotland – and then plays for England! 10. Yes yes! You’re on the wrong route for the Ivory Coast 11. You would hardly describe him as a tidy football player 13. This player should give his team’s attack some bite! 15. One of the senior Brazilian players – even though he sounds like he’s not! 17. Drone scatters the hens after a biblical river to play for England 18. His German namesake sunk the English in Mexico in 1970 19. This manager sounds like he could entrance you – but not in the north! Down: 2. He’s a rogue – but a bit mixed up 3. Like Van Gogh, this player sounds like he might have limited liability in Brussels 4. Will he play in a pyramid formation? 6. It sounds like this Spanish player lives in a nice house 8. Has this Belgian the potential to cause harm in the garden? 12. You could have a nice cup of coffee with this Spanish player 14. This bee flying around all of Kent spends most of his time in a Palace 16. This player towers over the opposition in Spain! Email your solution to study@accountancy learning.co.uk by 20 July 2018. There’s a bottle of Champagne in it for the first correct solution! Winner and the solution in the next issue. As the archetypal entrepreneur in this nation of shopkeepers, here is his business, in his words: “My first plan as an espresso business was to build mobile coffee bikes ‘Bikecaffe’ and station one in the business district of Exeter. I liked the idea of a very simple and lean profit and loss business with a good cash flow on a day to day basis. Having outgrown the bikes (mainly because of needing a bigger espresso machine), I founded Timber coffee in a, yep you guessed it, a timber cabin! The premise is exactly the same - it’s a grab and go or stand and sip coffee bar with 90% of my customers being from the professional district of the city. This always seemed a good idea to me (as I didn’t fancy working every weekend like most coffee shops must), as my customers are all shut! So by being very small, with low overheads I can service this captive market. I used to look at sandwich shops in office districts and see that they could operate a successful business and be shut by 3pm! More time to go surfing! So I simply adapted this idea to my love of making coffee. So I suppose it all came from my love of coffee in all its forms and glory and having such a close personal relationship with my customers, which is very important to me. I serve every cup and we chat both business and sillyness as we go! Coming from a retail background I was horrified at the idea of buying for example £30,000 worth of stock up front and then hopefully selling it at full price! With Timber Coffee I can just order coffee beans from the local roasters as and when I need them. Also, working with a product that I love means that, on the whole, coming into work is a pleasure and is very sociable. On any given day we will have a taxi driver, a surveyor, a builder, an accountant and hugely wealthy property developers all standing together first thing in the morning enjoying a fresh brew.” We have included with this newsletter an update on how to make the most of the learning that takes place during the working week, to meet the 20% rule for apprentices. ASK US… EMPLOYER SPOTLIGHT Coffee al fresco! Matt Whitaker supplies us, our students and our neighbours on Barnfield Crescent, with coffee, cake and counselling, as well as probing current affairs analysis!

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