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Today’s news in brief – 5/3/2024

Companies House has implemented new measures under the Economic Crime and Corporate Transparency Act 2023, enhancing data quality and combatting register misuse. Changes include increased powers to query information, checks on company names, rules for registered office addresses, mandatory registered email, and a lawful purpose confirmation during incorporation. Companies House gains authority to remove inaccurate data and share information with government departments. Criminal offences and civil penalties complement the reforms. The CEO highlights a focus on preventing misuse of individuals’ information and expresses intent to prioritise legitimate businesses while implementing the changes, minimising disruptions.

Dow Schofield Watts has relocated its London office to 44 Maiden Lane, Strand, London, accommodating a growing team of nine. The expansion includes the promotion of Phil Hodgson to associate director and new hires Alex Bull, Peter Sexton, and Chris Dougan. Hodgson, with five years in DSW’s corporate finance team, contributed significantly to transaction delivery and business growth. The new team members bring diverse skills and sector focus. The Covent Garden relocation aligns with DSW’s mid-market expansion plans, providing improved facilities for the growing team and supporting the firm’s strategic goals.

FRP’s Restructuring Advisory team has concluded the sale of AMTE Power Plc, a UK battery cell manufacturer, to LionVolt Ltd. Facing financial pressures and delays in securing rescue funds, AMTE Power sought administration. LionVolt, a Dutch battery technology firm, acquires AMTE Power’s business and assets, repurposing the Thurso production facility for its innovative batteries. The transaction, led by FRP’s multidisciplinary team, preserves 20 jobs in Thurso. The remaining 15 staff in Milton, England, were made redundant. LionVolt’s focus on ‘3D’ solid-state batteries aligns with AMTE Power’s role in eco-vehicle technology, ensuring a continuation of battery cell manufacturing in Scotland.

Somerset-based accountancy firm Lentells has appointed Jodie Farkas to its board of directors, bringing the total to ten across three sites. Farkas, based in the Taunton office, manages her portfolio of clients and engages with the firm’s audit clients. Having trained and qualified as a chartered accountant within Lentells, Farkas expresses delight in contributing to the firm’s management and future decisions. Adrian Stallard, director of Lentells Taunton office, recognizes Farkas’s commitment and professionalism, stating her promotion is a natural progression, adding value to the board.

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