PKF Francis Clark is hosting a seminar which brings together providers of business funding, including both debt and equity; business support agencies including grant specialists; our own corporate finance experts and business owners themselves to provide short, sharp presentations in order to assist business owners and managers in assessing which funding stream is right for them.

1. 1
Sharon Austen, Partner
Finance in the South
West 2018

2. www.website.com
Issues facing start up businesses
• Business structure: Sole trader
Partnership
Limited Company
• Red Tape: HMRC registration
Accounting systems
Pensions and Auto-
Enrolment
• Ongoing services: Payroll
Management accounts
Tax planning /
remuneration strategies

3. 3
Issues facing start up businesses
• Strategies for growth: Business plans
Cash flow projections
Acquisitions/disposals
of trade or assets
Grant funding
• Tax opportunities: R&D
Patent Box
Utilising taxable
losses due to CA’s
and investment

4. Funding and support – for
businesses < 2 years old
• 10 minute presentations on:
• Debt: The Bank
• Cloud accounting
• Start Up Loans
• SEIS/EIS
• Business support
• SME Perspective

5. Restricted - External
Select to continue >
Libby Smith, Barclays

6. Restricted - External
Approaching a bank if your business needs funding
 Know how much you need-don’t ask for what you think we will agree or
for the biggest figure you can think of as a contingency.
 Help us to understand how your previous experience could support your
application. You may be a start up but have you previously supported a
family business or can you demonstrate key skills from employment which
would give us confidence in you running the business.
 How will you afford the repayments including any future changes to the
business which mean you can afford them.
 Be prepared to put your personal stake into the arrangement. It is
common for a bank to look for an investment of 50% of the amount you
require . You don’t need to evidence the cash is available to demonstrate
this as you may have already invested the amount into your business.
 Forecast your finances.

7. Restricted - External
Approaching Your Bank for Funding 2
 Be prepared to share information about your personal financial standing.
A lender will want to know if you own property or other assets, if you have
savings or other finance.

8. Restricted - External
Be Honest
 You should present all of the information in an upfront and honest way,
including any irregularities or potential problems. If not they will be
discovered later on and may cause a delay in the process-or even stop it
altogether.
 Your integrity as the business owner and the integrity of the business is
an important part of the lenders decision. For example if you have been a
discharged bankrupt in the past, but declare it on your application and
provide an explanation, a bank may still proceed. If there is a discovery
later however, the application may be called into question.

9. Restricted - External
Not every business is right for bank borrowing
 Finance Platforms- We will refer you to other lenders who may be able to
assist
 Business Angels-These are wealthy individuals who invest their own
money. In return for funding they may not require a regular repayment as
they may take a stake in your business.
 Venture Capital- Companies with high growth potential requiring large
sums of money are referred to companies that specialise in this kind of
investment.
 Crowd Funding-This is an old idea bought up to date by the internet
allowing lots of individuals to give a small amount of money
 Grants and Awards-made by the government local authority or business
support organisations
 Community Development Finance Institutions- Now known as
Responsible Lenders like SWIG, Fredericks Foundation

10. Restricted - External
Our approach is built on forging long-lasting relationships. Through our dedicated and aligned
expertise, we provide innovative funding solutions and connect customers to our wider network
– making sure their business has every opportunity to enjoy the benefits we have to offer.
From idea to IPO, we can help energise your clients’ ambitions.
Focused business and personal banking support from
dedicated experts across eight UK regions.
Access to the right funding at the right time, including a
£200m venture debt fund.
Unique networking opportunities, with more than 80
events in 2016.
Internal Only

11. Restricted - External

12. Restricted - External
The risk of cyber fraud is greater than ever before, and when it hits a business, it hits hard. It’s
important to remember that most cyber fraud attacks depend on human interactions, and they can be
prevented by being aware of, and vigilant against, methods of fraud.
We have Digital Eagles across the country to help train business owners on digital and cyber security, and
host events and webinars to raise awareness for businesses and their staff. But there are common-sense
steps that your clients can take to keep their business safe, such as watching out for the likes of:
Invoice scams
It’s not hard for fraudsters to uncover invoice details
and pose as regular suppliers. If a
request comes through to change a supplier’s bank
details, it’s important that it’s checked with the payee
using their on-file details.
CEO spoofing
Fraudsters can convincingly fake emails, including
the sender address. A common scam
is to pose as a senior staff member and ask for an
urgent payment to be made. Any payment requests
that are outside of normal procedures should always
be checked, ideally in person or
by telephone.
General advice
• Never disclose security details, such as your PIN or
password
• Don’t assume an email or phone call is authentic
• Don’t be pressured into making a decision
• Trust your instincts. If it doesn’t feel right, stop and
check
• Be confident. Refuse unusual requests for personal
or financial information.
For more information on beating financial fraud,
search for ‘takefive-stopfraud’.

13. Restricted - External
Calls to 0800 numbers are free from UK land lines and personal mobiles, otherwise call charges may apply. Please check with your service provider. Calls to
03 numbers use free plan minutes if available; otherwise they cost the same as calls to 01/02 prefix numbers. To maintain a quality service we may monitor or record phone
calls.
Disclaimer
Barclays Bank PLC and its employees have made every attempt to ensure that the information contained in this document is accurate at the time of publication; no warranties or
undertakings of any kind, whether express or implied, regarding the accuracy or completeness of the information is given. Barclays accepts no liability for the impact of, or any
loss arising from, any decisions made based on information contained and views expressed in this document.
Copyright in this presentation is owned by Barclays (© Barclays Bank PLC, 2017). No part of this presentation may be reproduced in any manner without the prior written
permission of Barclays.
Barclays Asset Finance is a member of the Finance & Leasing Association (FLA).
Barclays and Barclaycard are trading names of Barclays Bank PLC. Barclays Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial
Conduct Authority and the Prudential Regulation Authority (Financial Services Register number: 122702). Registered in England. Registered no.1026167. Registered office: 1
Churchill Place, London E14 5HP. Barclays Bank PLC subscribes to the Lending Code.

14. Making Tax Digital & Cloud Accounting
Darren Jasper: Head of CloudSourcing Feb 2018

15. pkf-francisclark.co.uk
Contents
• Making Tax Digital: Past, Present & Future?
• What’s going on at PKF Francis Clark?
• Cloud Accounting
• What does it mean for you?
• Contact

16. pkf-francisclark.co.uk
• All businesses, including buy to let properties, with a
turnover >£10,000 to:
• Maintain their accounting records on digital software,
• Including taking pictures of receipts, and
• Filing of business tax and VAT returns at least
quarterly and directly through software
• From 5 April 2018.
• SCRAPPED 25 April 2017
MTD: Past

17. pkf-francisclark.co.uk
MTD: Present
• With effect from 1 April 2019
• VAT registered businesses with turnover >£85,000 must:
• Maintain their VAT records digitally, and
• File VAT returns directly through software.
• That’s it.

18. pkf-francisclark.co.uk
MTD: Future?
• No further MTD legislation until at least April 2020.
• Could it be that the original proposals are resurrected?
• Who knows!

19. pkf-francisclark.co.uk
..
• We are reviewing our client base with MTD in mind.
• We have and will continue to communicate what MTD
means for each client.
• We are reviewing our own systems and processes to
take advantage of technology to build closer
relationships with clients.
• Cloud accounting software is just one of those
technologies…
Making Tax DigitalMaking Tax Francis Clark Digital

20. pkf-francisclark.co.uk
Cloud Accounting
..

21. pkf-francisclark.co.uk
To Recap
• Ready for Making Tax Digital…
• Make business decisions based on real time information
• Dashboard summaries or management accounts
• Tax planning advice based on your actual results
• Save time and cost with automated bookkeeping:
• Automated entry of receipts and payments from
bank feeds or statement scanning
• Automated entry of invoice detail by scanning

22. pkf-francisclark.co.uk
• Protect your data: Secure hosted service provides
automatic, continual backups
• Share selected information anywhere, with anyone:
Bookkeeper, accountant, bank manager?
• Automate bookkeeping: By choosing to use bank
‘feeds’ and/or automation apps
• Low cost: Service not a product
• Most importantly: Work with us!

23. pkf-francisclark.co.uk
Case Study
• Salon Management. Sales. Invoice Scanning.
Bookkeeping. Payroll. Forecasting. Financial Management.
• By using cloud software and working with FC:
• Outsourced business administration and the provision of
management accounts, leading to business restructuring
which included a salon move, obtaining bank finance and
revising staff remuneration.
• Spot the issues as they happen, and act upon them, fast.
• Elk Salon – Topsham, Exeter
• Cloud software used for:

24. pkf-francisclark.co.uk
Who to contact?
The Robot
CloudSourcing Champion
cloudaccounts.enquiries@pkf-francisclark.co.uk
Darren Jasper ACA CTA
Head of CloudSourcing
Darren.Jasper@pkf-francisclark.co.uk

25. Aaron Hamshire
www.swigfinance.co.uk
info@swigfinance.co.uk
01872 223 883

26. Who are we?
Trustees from Cornwall Council, Cornwall Chamber of
Commerce, Devon County Council, Gloucestershire
First LEP, Barclays and Lloyds banks.
Part of a national network of CDFIs
• Not for profit company
• Established 1989
• Based in Truro

27. WHAT DO WE DO?
Loans and support to SMEs with potential
but excluded from mainstream finance
• Lack of track record
• Lack of security
• Poor credit rating
• Not within credit policy of lender
• Not investment ready

29. START UP LOANS
• £500 to £25,000 per business owner for
businesses trading up to 2 years
• Includes purchase of businesses trading
over 2 years
• Fully funded business support
• 6% interest fixed; initial repayment
holidays; repayable up to 5 years

30. BUSINESS GROWTH LOANS
• £10,000 - £100,000 for growth
investment
• 8 – 12% interest fixed: repayable up to 5
years
• Initial repayment holidays
• No early repayment or late payment
charges

31. APPLCATION PROCESS
1. Initial enquiry over the phone
2. Complete simple online application
3. Provide information i.e. financials
4. Face-to-face meeting
5. Decision in 1-2 weeks
Application process supported by our local
Business Managers and advisors

32. Frost Builders (SW) Ltd
The St Agnes-based business, one of
the UK’s leading solar panel cleaning
companies, purchased new specialist
machinery with a growth loan from
SWIG Finance matched with BIG2
grant funding.
Est1985, focussed on high-end bespoke
domestic developments in the Roseland
area.
Finance was requested to help fund the
completion of pipeline orders which
totalled £1.7M.

33. www.swigfinance.co.uk
info@swigfinance.co.uk
01872 223 883
Thank you for listening

34. 34
Adam Kefford: Tax Director
FISW 2018: SEIS/EIS

35. www.website.com
Introduction
• Equity investments
• Data
• Eligible companies
• Example
• Tax relief for investors

36. Equity Investments
• Cash invested into a company in the form of subscribing for shares
• Most commonly, shares are either ordinary or preference shares
• Often considered where debt cannot be obtained (or only offered on
unattractive terms)
• Gives the investor an equity stake in the business
• Tax incentives on offer for certain investments in ordinary shares

37. Equity Incentive Schemes
• Offer tax incentives to investors to encourage investment into
financially risky companies including start up or relatively new
businesses
• Two main equity incentive schemes:
• The Enterprise Investment Scheme (EIS) - Introduced in 1994 to
help smaller, high-risk trading companies to raise finance by offering
a range of tax reliefs to investors who purchase new full-risk ordinary
shares in those companies.
• The Seed Enterprise Investment Scheme (SEIS) - Introduced in
2012 to recognise the particular difficulties which very early stage
companies face in attracting investment by offering a tax relief at a
higher rate than that offered by EIS

38. Amount of funds raised through EIS (1993/94 to 2015/16)

39. Industry sector – EIS funds (1993/94 to 2015/16)

40. EIS funds raised by region (2013/14 to 2015/16)

41. SEIS funds raised by region (2013/14 to 2015/16)

42. Eligible companies – who can apply?
You may be able to apply if your company :
• Has a permanent base in the UK
• Carries out a trade that qualifies
• Is not listed on a recognised stock exchange
• Meets the qualifying conditions for the scheme opted for
(stated on the next slide)
• Demonstrate and use the funds raised are used for a
qualifying purpose
Most trades will qualify, including any
research and development that will lead
to a qualifying trade.
However your company may not qualify
if your trade includes things like:
• Coal or steel production
• Farming or marketing gardening
• Leasing activities
• Legal or financial services
• Property development
• Running a hotel
• Running a nursing home
• Generation of electricity, heat, gas or
fuel

43. Eligible companies – who can apply?
Enterprise Investment Scheme (EIS) Seed Enterprise Investment Scheme (SEIS)
Trading for Typically applies to companies younger than 7
years old (increased to 10 years for knowledge
intensive)
Less than 2 years
Gross Assets
of
No more than £15 million before the issue No more than £200,000 before the issue
Number of
Employees
Fewer than 250 employees (or 500 employees if
you meet certain conditions)
Fewer than 25 employees
Maximum
amount that
can be raised
Can raise no more than £5m in any 12 month
period – includes any venture capital schemes and
other state aid investments e.g. certain grants
Up to £150k can be raised through the issue of SEIS
shares – limit reduced by any other State Aid received
in the 3 years preceding the issue of SEIS shares
Cash use Cash has to be used for the purposes of a
qualifying trade and spent within 2 years
Cash has to be used for the purposes of a qualifying
trade and spent within 3 years of the share issue
Other
conditions
Individual investors cannot be connected with the
company
Individual investors cannot be connected with the
company

44. ABC Limited
ABC Limited was incorporated 12 months ago and has been trading
since. They have £145,000 worth of gross assets and 20
employees. They are planning to raise £1m and will use the cash
raised to invest in new capital equipment and marketing efforts
within 6 months. They haven’t benefitted from venture capital
investment schemes or State Aid investments in the past.
Which investment incentive scheme could ABC Limited use?

45. ABC Limited (continued)
Answer: SEIS and EIS
Approach:
1. Commercial decision – do you want to proceed with an equity offering? Could
debt be an option?
2. If equity – consider SEIS/EIS qualifying offering.
3. Review of company activities / plans to determine eligibility status.
4. Apply for Advanced Assurance from HMRC (6-8 weeks typically).
5. Confirm SEIS/EIS status with potential investors, raise funds and issue shares.
6. Complete SEIS1 and EIS1 forms culminating with issue of SEIS and EIS
certificates to investors.

46. Tax relief for investors
Relief SEIS EIS
Income tax relief 50% (max inv. £100k) 30% (max inv. £2.0m)
CGT exemption Yes – after 3 years Yes – typically 3 years
from date of issue
CGT deferral No Yes
IT loss relief Yes - potentially Yes - potentially
BPR Yes Yes
The above are subject to various investor conditions and rely on continual
qualification in the period after the issue of shares.

47. Joe Pearce
Head of Business Support
Accelerating Growth:
Business Support for High-tech High Growth

50. • “High-tech, high growth” gateway policy
• Virtual, hot desk and office & lab space
Impact in 2017
• Total turnover >£11.5 M
• Total staff > 220, 50% growth on 2016
• Investment raised >£4.4M
2018 Developments
• Incubation focus in Science Park Centre
• 2 new “grow-on” buildings to open Q4 2018
• More than double the population
• Enhancing facilities and services
Exeter Science Park

51. SETsquared Exeter
• Student Entrepreneurship
– Societies
– Degree courses
• Experts in Residence
– Sam Mickleburgh
– David Solomides
• Funding Partnerships
– Impact Lab
– SpaceTech
• Community Engagement
– Castle Demos
– Startup Weekend

52. Innovation
Public – Private
Collaboration
Deployment in
Commercial Market
Private
Research &
Invention
Mainly Public
Knowledge
Development
Technology
Development
Business Development
Universities and R&D
Departments
INNOVATION PHASE Industry
Impact Lab

53. ARCHITECTURE
Design architecture to fit
business needs
DATA MINING
Extract new value
from large, complex
data sets
REALTIME
ANALYTICS
Process events from
sensors and other
streaming data
ADMIN &
MANAGE
Deploy and manage
big data installations
and services
TIME SERIES
Consume and
process large
volumes of
information
DATA
VISUALISATION
Present information
using dashboards
and reports
BUILD
ANALYTICAL
APPLICATIONS
Create applications
to create
information from
data and integrate
with other services
NEW INSIGHTS
NEW VALUE
BETTER OUTCOMES
Data Sciences

54. The Impact lab will work across the Heart of South West LEP Smart
Specialisation Sectors:
• Environmental Sciences
• Health & Social Care
• Agricultural Sciences
• Marine
• Aerospace & Advanced Engineering
• Nuclear
& provide matched grants to support product development and business
growth
Clearly Defined Sectors

55. “Working with the University of Exeter through the SETsquared
team at the Science Park Centre has enabled Custodian
Solutions to access support and opportunities that have helped
our businesses grow, enabled our development and helped us
attract clients and investment opportunities”
Joel Stobart
CTO
Custodian Solutions Ltd

56. Joe Pearce
Head of Business Support
Joe.pearce@setsquared.co.uk
Many thanks

57. Gustare Honey Ltd
Finance in South West 2018
We’refarmorethanwhat’sinthejar!
JasonHayward-Jones
Co-founder,Director&CEO

58. We’re far more than what’sin the jar!

59. Who Are We?
Gustare Honey is a premium quality honey
brand for the global food market.
Our USPs: We are on mega health & wellbeing
trend, we have a disruptive & innovative route
to market, & complementary superfood
products.
We solve service & delivery problems for
HORECA clients.
We’re far more than what’s in the jar!

60. What Do We Do?
Luxury food & health markets in UK & Europe;
premium distributors, shops & multiples.
HORECA buffet condiment market globally via
leading international hotel chains.
Demand: each hotel uses $20,000 condiments
per year.
Supply: via dispensers with collaboration from
local condiment suppliers.
Dispensers are a disruptive route to market.

61. Dispenser – Disruptive Problem Solver
HORECA Food Service Buffets
Saves up to 60% costs compared with jar &
sachet portion control.
Minimizes waste at the buffet & table.
Reduces theft from buffets.
Hygienic dispensing action & cartridge reloading.
Ease of use for both customers & staff.
Condiment supply & service.

62. TractionTraction
Currently selling branded products in Australasia,EU & USA.
Distribution to over 300 independent health stores & multiples;
Ocado, TJX, Marshalls.
Dispensers rolling out to international hotel chainsin Australasia.
Joint Venture partner & distributors secured in North America for
dispensers & condiments.
HORECA distributors secured in China& UK.

63. TractionTraction – Branded Products

64. Traction - Dispensers @ HiltonHotel Sydney

65. Our FinancialJourney SoFar
Founders Investment
Round 1
• SEISInvestors UK
• Private HNW Investors AUS
Round 2
• Venture Capital Investors
• EIS Investors UK
Growth from Revenue

66. Expert Advice – Why Do We Need It?
FMCG Sector & PKF Francis Clark
• 3/5/10 year strategy.
• Comfort.
• Workload.
• Complex accounting & tax issues.
• Looking from the outside in.

67. Lessons Learnt
Headwinds& inertia from an entrenched food industry; odds stacked
againsta start-up brand,
Brandresonates beyond the jar.
R&Dtakes along time & costs a lot.
Diversification is alwayssensible.
Innovation is welcomed by clients & differentiates products &
company in the industry.
Disruption key to break out of an entrenched market.

68. The Next Steps
New honey product offerings; a large range of active Manuka& mono-
floral honey types currently in demand & short supply globally.
Disruptive route to market; dispensers for international hotel chains&
other HORECA outlets globally. Proprietary range of premium
condiments.
Complimentary superfood products for HORECA clients globally.
Use our R & D to grow the business!

69. Investment
Capitalraising: £440,000 for 20% equity
UK EIS Approved
Timing: Feb./Mar. 2018.
Existing investors: Founders: £120,000
Round 1: £300,000
Use of Proceeds:
50% working capital. 25% salesagents in key markets. 25% marketing
initiatives.

70. Headwinds!
If youfind yourself battling against the
headwinds of market & competition,
turnaround & you will be in front with
the wind behind you!

71. Gustare…...to taste & enjoy!

72. Thank you.

74. 74
Sharon Austen, Partner
Finance in the South
West 2018

75. Summary
• The South West is a great place to
do business and has great
businesses
• The South West full of
entrepreneurial spirit (businesses
and funding options)
• Funding and business support
here…
• http://www.pkf-francisclark.co.uk/news-
views/blog
• Factsheet
• Thank you

76. Thank you to….
And more, including our SME Perspective
presenter

77. Thank you to….
And now to Lunch/
Networking...

78. (c) copyright PKF Francis Clark, 2018
You shall not copy, make available, retransmit, reproduce, sell, disseminate, separate, licence, distribute, store electronically, publish, broadcast or otherwise
circulate either within your business or for public or commercial purposes any of (or any part of) these materials and / or any services provided by PKF Francis
Clark in any format whatsoever unless you have obtained prior written consent from PKF Francis Clark to do so and entered into a licence.
To the maximum extent permitted by applicable law PKF Francis Clark excludes all representations, warranties and conditions (including, without limitation,
the conditions implied by law) in respect of these materials and /or any services provided by PKF Francis Clark.
These materials and /or any services provided by PKF Francis Clark are designed solely for the benefit of delegates of PKF Francis Clark.
The content of these materials and / or any services provided by PKF Francis Clark does not constitute advice and whilst PKF Francis Clark endeavours to
ensure that the materials and / or any services provided by PKF Francis Clark are correct, we do not warrant the completeness or accuracy of the materials
and /or any services provided by PKF Francis Clark; nor do we commit to ensuring that these materials and / or any services provided by PKF Francis Clark
are up-to-date or error or omission-free.
Where indicated, these materials are subject to Crown copyright protection. Re-use of any such Crown copyright-protected material is subject to current law
and related regulations on the re-use of Crown copyright extracts in England and Wales.
These materials and / or any services provided by PKF Francis Clark are subject to our terms and conditions of business as amended from time to time, a
copy of which is available on request.
Our liability is limited and to the maximum extent permitted under applicable law PKF Francis Clark will not be liable for any direct, indirect or consequential
loss or damage arising in connection with these materials and / or any services provided by PKF Francis Clark, whether arising in tort, contract, or otherwise,
including, without limitation, any loss of profit, contracts, business, goodwill, data, income or revenue. Please note however, that our liability for fraud, for
death or personal injury caused by our negligence, or for any other liability is not excluded or limited.
PKF Francis Clark is a trading name of Francis Clark LLP. Francis Clark LLP is a limited liability partnership, registered in England and Wales with registered
number OC349116. The registered office is Sigma House, Oak View Close, Edginswell Park, Torquay TQ2 7FF where a list of members is available for
inspection and at www.pkf-francisclark.co.uk. The term ‘Partner’ is used to refer to a member of Francis Clark LLP or to an employee. Registered to carry on
audit work in the UK and Ireland, regulated for a range of investment business activities and licensed to carry out reserved legal activity of non-contentious
probate in England and Wales by the Institute of Chartered Accountants in England and Wales. Partners acting as insolvency practitioners are licensed in the
UK by the Institute of Chartered Accountants in England and Wales. A partner appointed as Administrator or Administrative Receiver acts only as agent of the
insolvent entity and without personal liability. Francis Clark LLP is a member firm of the PKF International Limited network of legally independent firms and
does not accept responsibility or liability for the actions or inactions on the part of any other individual member firm or firms.
Disclaimer & copyright
pkf-francisclark.co.uk