Ignition Credit

Business & Personal Asset Finance in Cornwall

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Ignition helps China Fleet Country Club invest in Solar Energy

23rd June 2022 By Katy Baker

One of the South West’s leading country clubs, China Fleet in Saltash, has invested in a Solar Photovoltaic (PV) system worth over £100,000, supplied by ZLC Energy in Liskeard, and financed through Truro-based asset finance provider, Ignition.

The China Fleet Country Club was established more than 30 years ago to provide rest and recreation facilities for Royal Navy and Royal Marine personnel and their families, and has since evolved into a contemporary family-friendly facility that is also open to members of the local community.  It comprises a championship golf course, a leisure complex, health and beauty suite, apartments, café and restaurant, and hosts conferences and events.

The impressive 165kWp array of solar panels has been installed on the roof of the main building by renewable energy installers, ZLC Energy Ltd.  It will save 95,000kg of carbon per year and will provide 16% of the Club’s energy requirements.

According to China Fleet Country Club Managing Director, Dean Bennett, the installation falls in line with the Club’s commitment to sustainability, as well as helping to reduce energy costs in the long term:

“As a company we are aiming for net zero carbon use by 2030.  The installation of the solar array will help us achieve this, and has the added benefit of substantially reducing our energy costs.  Thanks to Ignition, the outlay for the equipment and installation will be paid back gradually over 4.5 years, but with current rising energy costs we anticipate seeing a return on our investment much sooner than that – possibly within just two years.  We have definitely taken the plunge at the right time!”

He continues: “I’m particularly pleased that we have managed to take this step thanks to collaboration with two fellow Cornish companies, Ignition and ZLC Energy.  We have worked with each of them over a number of years, and would highly recommend them both for providing excellent customer service and understanding the complex needs of their customers.”

Matthew Shepherd, Managing Director at ZLC comments:

“This was a fairly complicated installation due to the challenges posed by the Club’s slate roof, but our team managed to complete the project in time, to budget, and safely. We were on site for six weeks, but were able to work discreetly with minimal disruption to the Club and its members.  We’re looking forward to working with China Fleet on their plans for further sustainable projects.”

Eleanor Smith, Business Development Manager at Ignition comments:

“It’s been a pleasure to work with China Fleet Country Club to help them realise their ambitions for environmental sustainability.  By offering specialist financial solutions for a range of renewable energy assets, we can ensure that being more sustainable is not just aspirational but also a beneficial business strategy.”

Filed Under: News Tagged With: ignition

Asset Finance Boosts Recycling Business

31st May 2022 By Katy Baker

Penzance-based waste management and recycling company, Bostraze Recycling, has boosted its business by acquiring 20 new skips, with help from asset finance provider, Ignition.

Bostraze Recycling was launched as a new venture by the Menear family in November 2019, and has since experienced rapid growth, now with a team of 11 employees and offering a range of waste management services across West Cornwall from commercial and holiday home waste collections, to skip hire, to recycled aggregates.

Ignition is a leading provider of vehicle and asset finance for UK SMEs, based in Truro, and has been helping Bostraze Recycling to grow by providing funds for various assets since its launch, including shredders, diggers, HGVs, pickup trucks and plant equipment. The 20 new skips were ordered last month on a Finance Lease agreement, meaning that the cost is spread by regular repayments over a set period of time.

Danny Menear comments: “As a family we’ve been in the construction business for many years, owning and running the building and groundworks specialist company, MPL Contractors.  At MPL we began to find it more convenient to move and dispose of our own waste, and the idea to set up Bostraze Recycling was born.

“Since the company was created, demand for waste management has continued to rise in the local area.  The construction industry is very buoyant due to an increase in home building and renovations, and demand for holiday home waste services is also growing now that tourism is returning after Covid-19.  Recycling is set to remain a crucial industry, so we anticipate further growth in the years ahead.”

Ross Hyde, Relationship Manager at Ignition, comments: “Bostraze Recycling was an exciting opportunity for the Menear family to enter at an optimal time. It continues to be a privilege to help Danny and his team maximise their opportunities and grow the business further. Their success is great for the local economy and we look forward to witnessing the continued growth of the business in the years ahead.”

Delivery of new skips for Bostraze Recycling

Filed Under: News

£70k Boost for The Rum & Crab Shack

18th May 2022 By Katy Baker

St Ives’ popular seafood restaurant and bar, The Rum & Crab Shack, has invested £70k in a full kitchen refurbishment, with help from Truro-based asset finance provider, Ignition.

The Rum & Crab Shack has enjoyed pride of place on the harbour-front since it was established in 2012 and has become a favourite for locals and visitors alike with its unique blend of cocktails, seafood and ocean views.

The complete refurbishment of its kitchen has included modernising all fixtures, fittings and equipment, such as fridges, freezers, cookers and grills, as well as improved ventilation and better use of space.  The customer toilets have also been relocated and refurbished as part of the project, and the dining area has been extended with more covers added.

The Rum & Crab Shack Director, Neythan Hayes, comments:

“We’ve been keen to overhaul the kitchen for some time, to improve the working environment for our staff in the long term, but knew it would need considerable investment.  Ignition’s finance package offered competitive rates and has enabled us to spread the cost over a number of months, making the finance much more manageable. This is particularly helpful in the current climate, as rising inflation is pushing up wholesale costs and the entire hospitality industry is feeling the squeeze.

He continues: “We definitely went ahead at the right time, before the Easter holidays and the start of the busy summer season, and we’re already seeing the benefits.  Our customers are enjoying the same views, vibes and delicious food and drink that they have come to love, but behind the scenes our employees are working in a cooler kitchen with more space and much better equipment.  We really value our staff: it’s important to us that as well as providing a great customer experience, The Rum and Crab Shack is also a great place to work.”

Graham Mines, Relationship Manager at Ignition, comments: “We were happy to help The Rum and Crab Shack with this venture.  It’s great to be able to support a successful local business and I’m sure they will enjoy the benefits of their investment for many years to come.”

The Rum and Crab Shack is home to the iconic Dead Man’s Fingers spiced rum and Stargazy Cosmic Caramel liqueur.  The team are currently recruiting ahead of the busy summer season and are asking for interested candidates to get in touch.

Stuart McGuire (left) and Neythan Hayes (right) from The Rum & Crab Shack, with Graham Mines from Ignition (centre)
The newly refurbished kitchen

Filed Under: News

Machinery Helps Meet Demand

28th March 2022 By Katy Baker

Brookland Sand & Aggregates Ltd has purchased a suite of six machines worth £1.5m, with help from the Truro-based vehicle and asset finance provider, Ignition.

Brookland is an independent family business working out of Littlejohn’s Pit near St Austell, which recycles and processes china clay waste into high quality sustainable secondary sand and aggregates. Formed 12 years ago by parent company, Norman Cleave Plant Hire, the company produces granite aggregates and sands suitable for roads, paths and driveways and for general building use. It also supplies producers of ready-mix concrete.

Since its inception, the company has expanded rapidly and has been awarded a number of substantial contracts.  In order to keep up with this increasing demand, it has invested in a suite of used machinery over the last six weeks, including two cone crushers, a jaw crusher, an excavator and a loading shovel, worth around £1.5m.  All have been obtained on a Hire Purchase finance agreement arranged by Ignition, meaning that the purchase cost is spread by regular repayments over a set period of time.

According to Finance Manager, David Mitchell, the new machinery is already helping to boost productivity:

“Demand for our products has soared in recent years.  This is partly due to an increase in road construction, building and home improvements across Cornwall, but also thanks to our reputation for providing excellent quality products at a good price and with exceptional aftersales.

“In the early days, we used to process around 1,500 tonnes of waste on a busy day.  Now we regularly process 8,000 tonnes per day, and obviously need reliable machinery to support this.

“The machines and equipment have been purchased second-hand and have been re-purposed so that they are perfect for our needs.  We’re already benefiting from our investment and are grateful to Ignition for helping us secure them.”

Nicola Hambly, Associate Director at Ignition, comments: “Brookland Sand & Aggregates is an excellent example of a successful local business taking the opportunity to increase production to meet industry demand. It’s been a pleasure working with the team, and we’re looking forward to supporting them further as the company continues to grow.”

Marshall Cleave, Nicola Hambly and David Mitchell with some of the new machinery

Filed Under: News

Spring Statement Review

24th March 2022 By Katy Baker

Yesterday, Rishi Sunak presented his Spring Statement, outlining how he will support the economy against a backdrop of rising inflation and a squeeze on the cost of living.

Businesses and households across the country will benefit from a 5p/litre cut in fuel duty to take the pressure off rocketing petrol and diesel prices – a welcome move, particularly for the many companies that depend on the transportation of their goods and services.  A number of additional measures may help to ease the burden on SMEs as they recover from the effects of the pandemic and grapple with rising prices:

  • Increased Employment Allowance

The Employment Allowance, which gives relief on employer National Insurance contributions for smaller businesses, will rise in April from £4,000 to £5,000.

  • Green Reliefs for Business Rates

The Chancellor is bringing forward the introduction of targeted business rates exemptions for eligible plant and machinery used in onsite renewable energy generation and storage, and a 100% relief for eligible low-carbon heat networks. These measures will now take effect from April 2022, a year earlier than previously planned.

  • Retail and Hospitality Business Rates

The previously announced business rates discount scheme for retail, hospitality and leisure, providing 50% relief on rates, will start in April as planned, giving these sectors a welcome boost.   

  • Annual Investment Allowance

It was confirmed that the temporary Annual Investment Allowance providing tax relief for plant and machinery investments up to £1m will continue to 31 March 2023, to further stimulate business investment and help businesses grow.

  • Help to Grow: Digital

The government is also helping firms to adopt new digital technologies, with Help to Grow: Digital, offering eligible SMEs a 50% discount on approved software worth up to £5,000.

In these challenging times, SMEs may find it helpful to explore their financing options and consider measures to help with cashflow management.  Ignition is on hand to assist with this. Contact us to discuss how we can help keep your business moving forward.

Filed Under: News

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About Ignition Credit

Registered Office
Sterling House,
Green Court,
Truro Business Park,
Threemilestone,
Cornwall,
TR4 9LF

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E&OE Company Registration Number: 4315993 | VAT Registration Number: 864 5933 85 | Authorised and regulated by the Financial Conduct Authority FRN 679018
IGNITION CREDIT PLC IS AN AUTHORISED CREDIT BROKER AND LENDER I Registered Office: Sterling House, Green Court, Truro Business Park, Threemilestone, Truro, Cornwall, TR4 9LF

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