Rockwell Solutions Limited creates packaging film for food products. Their objective is to be recognised as the global leader in the development and supply of lidding technologies. The company strives for best practice through continuous improvement in every area of their business in order to ensure they meet the needs and demands of the food supplier as well as the consumer. The client has just invested £5m in a new extrusion machine and also undertook research and development to improve the packaging with environmental issues in mind.
Rockwell asked us to assist them in ensuring they could access funding, as well as making the best use of reliefs (mainly tax and patent box reliefs) available to them.
Our manufacturing and engineering team helped them prepare regular management accounts which enabled them to monitor the cash position of the business and comply with bank requirements. We worked together to ensure the funding they claimed did not adversely affect the R&D and Patent Box relief available and we prepared regular reports to support grant funding claims, plus preparing both R&D and Patent Box relief claims as part of the annual tax returns.
To date the company has successfully claimed all available grant income in the appropriate timescales and they have continued to work with the bank and demonstrate they have the cash flow capacity to manage the borrowings for the major piece of machinery. The company has received a significant R&D credit relief and also Patent Box relief, which will increase significantly in the future.