UHI Perth principal revealed £1m debts in failed business just days before resignation
Air Service Training (Engineering) Limited was fully owned by UHI Perth. It trained thousands of pilots and aircraft engineers since it was established in 1931.
In one of her last acts as principal and chief executive of UHI Perth, Dr Margaret Cook provided a 'statement of affairs' estimating the debts in the business.
Dr Cook resigned with immediate effect from her post at UHI Perth last week.
It followed the revelation that the institution is battling a £2m deficit.
The statement of affairs is a document provided by a company director giving their estimation of assets and debts at the time of administration on April 10.
The document was provided by Dr Cook on May 8, and has now been lodged at Companies House.
She stepped down just six days later following calls for her to resign from the crisis-hit organisation.
The document shows current and former employees are owed around £417,000 in wages, holiday pay and pension payments.
More than £158,000 is owed to HMRC for VAT, national insurance, corporation tax and student loan repayments.
Debts listed as 'consumers claiming amounts paid in advance' – students and business who had paid for training – is another £486,000.
The total Air Service Training debts are estimated as £1,053,000.
Assets within the business expected to raise around £250,000. Assets include a cash balance of £133,000, trade debtors, machinery and vehicles.
Dr Cook resigned as a director in Air Service Training on May 13.
Since its formation, Air Service Training has trained more than 190,000 engineers and pilots from approximately 150 countries. The business had 28 members of staff when it went into administration.
Air Service Training was earmarked for £8m of Tay Cities Deal cash to create a national aviation academy.
Administrator Shona Campbell, of Henderson Loggie, recently said a closing date had been set for the business after dozens of enquiries. However, no offer emerged.
She said: 'Despite interest from 51 parties, no suitable offer was received for the purchase of the business as a whole.
'As a result, an online auction of Air Service Training (Engineering) Limited's physical assets is now live and will close at 11am on May 28.
'We remain committed to supporting students, ensuring they can complete their courses and receive certification for completed exams.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
NBC News
3 days ago
- NBC News
Apple scores big victory with ‘F1,' but AI is still a major problem in Cupertino
Apple had two major launches last month. They couldn't have been more different. First, Apple revealed some of the artificial intelligence advancements it had been working on in the past year when it released developer versions of its operating systems to muted applause at its annual developer's conference, WWDC. Then, at the end of the month, Apple hit the red carpet as its first true blockbuster movie, 'F1,' debuted to over $155 million — and glowing reviews — in its first weekend. While 'F1' was a victory lap for Apple, highlighting the strength of its long-term outlook, the growth of its services business and its ability to tap into culture, Wall Street's reaction to the company's AI announcements at WWDC suggest there's some trouble underneath the hood. 'F1' showed Apple at its best — in particular, its ability to invest in new, long-term projects. When Apple TV+ launched in 2019, it had only a handful of original shows and one movie, a film festival darling called 'Hala' that didn't even share its box office revenue. Despite Apple TV+ being written off as a costly side-project, Apple stuck with its plan over the years, expanding its staff and operation in Culver City, California. That allowed the company to build up Hollywood connections, especially for TV shows, and build an entertainment track record. Now, an Apple Original can lead the box office on a summer weekend, the prime season for blockbuster films. The success of 'F1' also highlights Apple's significant marketing machine and ability to get big-name talent to appear with its leadership. Apple pulled out all the stops to market the movie, including using its Wallet app to send a push notification with a discount for tickets to the film. To promote 'F1,' Cook appeared with movie star Brad Pitt at an Apple store in New York and posted a video with actual F1 racer Lewis Hamilton, who was one of the film's producers. Although Apple services chief Eddy Cue said in a recent interview that Apple needs the its film business to be profitable to 'continue to do great things,' 'F1″ isn't just about the bottom line for the company. Apple's Hollywood productions are perhaps the most prominent face of the company's services business, a profit engine that has been an investor favorite since the iPhone maker started highlighting the division in 2016. Films will only ever be a small fraction of the services unit, which also includes payments, iCloud subscriptions, magazine bundles, Apple Music, game bundles, warranties, fees related to digital payments and ad sales. Plus, even the biggest box office smashes would be small on Apple's scale — the company does over $1 billion in sales on average every day. But movies are the only services component that can get celebrities like Pitt or George Clooney to appear next to an Apple logo — and the success of 'F1' means that Apple could do more big popcorn films in the future. 'Nothing breeds success or inspires future investment like a current success,' said Comscore senior media analyst Paul Dergarabedian. But if 'F1' is a sign that Apple's services business is in full throttle, the company's AI struggles are a 'check engine' light that won't turn off. Replacing Siri's engine At WWDC last month, Wall Street was eager to hear about the company's plans for Apple Intelligence, its suite of AI features that it first revealed in 2024. Apple Intelligence, which is a key tenet of the company's hardware products, had a rollout marred by delays and underwhelming features. Apple spent most of WWDC going over smaller machine learning features, but did not reveal what investors and consumers increasingly want: A sophisticated Siri that can converse fluidly and get stuff done, like making a restaurant reservation. In the age of OpenAI's ChatGPT, Anthropic's Claude and Google's Gemini, the expectation of AI assistants among consumers is growing beyond 'Siri, how's the weather?' The company had previewed a significantly improved Siri in the summer of 2024, but earlier this year, those features were delayed to sometime in 2026. At WWDC, Apple didn't offer any updates about the improved Siri beyond that the company was 'continuing its work to deliver' the features in the 'coming year.' Some observers reduced their expectations for Apple's AI after the conference. 'Current expectations for Apple Intelligence to kickstart a super upgrade cycle are too high, in our view,' wrote Jefferies analysts this week. Siri should be an example of how Apple's ability to improve products and projects over the long-term makes it tough to compete with. It beat nearly every other voice assistant to market when it first debuted on iPhones in 2011. Fourteen years later, Siri remains essentially the same one-off, rigid, question-and-answer system that struggles with open-ended questions and dates, even after the invention in recent years of sophisticated voice bots based on generative AI technology that can hold a conversation. Apple's strongest rivals, including Android parent Google, have done way more to integrate sophisticated AI assistants into their devices than Apple has. And Google doesn't have the same reflex against collecting data and cloud processing as privacy-obsessed Apple. Some analysts have said they believe Apple has a few years before the company's lack of competitive AI features will start to show up in device sales, given the company's large installed base and high customer loyalty. But Apple can't get lapped before it re-enters the race, and its former design guru Jony Ive is now working on new hardware with OpenAI, ramping up the pressure in Cupertino. 'The three-year problem, which is within an investment time frame, is that Android is racing ahead,' Needham senior internet analyst Laura Martin said on CNBC this week. Apple's services success with projects like 'F1' is an example of what the company can do when it sets clear goals in public and then executes them over extended time-frames. Its AI strategy could use a similar long-term plan, as customers and investors wonder when Apple will fully embrace the technology that has captivated Silicon Valley. Wall Street's anxiety over Apple's AI struggles was evident this week after Bloomberg reported that Apple was considering replacing Siri's engine with Anthropic or OpenAI's technology, as opposed to its own foundation models. The move, if it were to happen, would contradict one of Apple's most important strategies in the Cook era: Apple wants to own its core technologies, like the touchscreen, processor, modem and maps software, not buy them from suppliers. Using external technology would be an admission that Apple Foundation Models aren't good enough yet for what the company wants to do with Siri. 'They've fallen farther and farther behind, and they need to supercharge their generative AI efforts' Martin said. 'They can't do that internally.' Apple might even pay billions for the use of Anthropic's AI software, according to the Bloomberg report. If Apple were to pay for AI, it would be a reversal from current services deals, like the search deal with Alphabet where the Cupertino company gets paid $20 billion per year to push iPhone traffic to Google Search. The company didn't confirm the report and declined comment, but Wall Street welcomed the report and Apple shares rose. In the world of AI in Silicon Valley, signing bonuses for the kinds of engineers that can develop new models can range up to $100 million, according to OpenAI CEO Sam Altman. 'I can't see Apple doing that,' Martin said. Earlier this week, Meta CEO Mark Zuckerberg sent a memo bragging about hiring 11 AI experts from companies such as OpenAI, Anthropic, and Google's DeepMind. That came after Zuckerberg hired Scale AI CEO Alexandr Wang to lead a new AI division as part of a $14.3 billion deal. Meta's not the only company to spend hundreds of millions on AI celebrities to get them in the building. Google spent big to hire away the founders of Microsoft got its AI leader by striking a deal with Inflection and Amazon hired the executive team of Adept to bulk up its AI roster. Apple, on the other hand, hasn't announced any big AI hires in recent years. While Cook rubs shoulders with Pitt, the actual race may be passing Apple by.
The Independent
5 days ago
- The Independent
Basing decisions on simulation data is good for business
COMSOL is a Business Reporter client Simulation apps are changing the game in business management, putting the power of predictive modelling at decision-makers' fingertips. Success in today's marketplace comes down to developing innovative products and processes that are reliable and launch at the right time. To accelerate development efforts in R&D, engineers turn to computer modelling and simulation. The world is ruled by laws of physics and mathematical equations, so with the data generated from computational models, engineers can get accurate previews of real-world outcomes before committing to a project plan or design. It makes a lot of sense for R&D departments to lean on physics, chemistry and maths to make decisions, but managers and stakeholders outside this realm have a lot to gain from the data as well. Multiphysics simulation adds realism to any scenario The benefits of performance previews transcend industries and product offerings. Working at a simulation software company, I have had a front-row seat to the many ways modelling and simulation have enabled users to speed up innovation and reduce overall costs. For example, there was the loudspeaker engineer who talked about turning an idea in his head into a viable product that would both perform well and look good, and he credited simulation with turbocharging the design iteration process. Simulation data is only as useful as it is realistic, though, and sometimes the spec changes at a rapid pace. The way simulation has largely been used in R&D to account for this real-world complexity requires training on how to use the software of choice. Today, however, engineers are putting simulation into the hands of far more people throughout the organisation and even in places that were previously completely unthinkable. How? By building easy-to-use apps based on their computational models, customised to suit specific business needs. Making decisions with simulation data Let's imagine a company that produces luxury cars. Today's consumers expect a lot more from their ride than safely going from point A to point B – one of those things being sound quality. While market research can guide you to this realisation, acting on it requires more than just sourcing a luxury loudspeaker and putting it into the car. There are many factors that affect sound quality inside a car cabin: the way sound bounces off the interior might go from acoustic bliss to tinny tunes if the car door design changes or the customer chooses a different type of trim. By using multiphysics modelling, you can accurately visualise how different designs will sound in specific car cabins and optimise designs and configurations before going to production. One supplier of audio technology for car manufacturers built its own custom simulation apps to quickly and easily visualise how its loudspeakers would sound inside the car environment, design changes and all. Next, let's consider an inventory example. On the surface, it is just a numbers game, but in reality, physics and chemistry also have a hand in the pot. Food expires at different rates depending on various factors such as storage conditions. In the global food supply chain, cold rooms are used for storing fresh produce between picking and shipping. The problem is that refrigerated space is often scarce and occupied by crops that are past their peak while new shipments sit around waiting for refrigeration. Engineers from an organisation in Switzerland knew that multiphysics simulation could be used to predict how many days are left before a particular fruit expires by accounting for overall size, peel thickness, air flow, temperature and humidity. In their pursuit of solving the refrigerated food storage problem in developing countries, the engineers joined a multinational consortium of food supply stakeholders to build a mobile app powered by multiphysics simulation with an interface customised for cold room managers and farmers. It worked: In August 2022, the company rolled out its app to 17 cold rooms serving more than 300 farmers, who reported a 20 per cent increase in income and 20 per cent reduction in post-harvest food losses. Now, consider a construction company. Building more structures leads to more revenue, but hiring enough contractors for the job and motivating them to work quickly does not guarantee a greater profit. Choices made at the construction site determine how fast concrete will harden and ultimately how strong and durable it will be. Without predictive analysis, picking the best concrete mix and deciding when to remove the supporting framework involves mostly intuition and conjecture. One of the world's largest suppliers of cement, aggregates and precast concrete rolled out an app to take away the guesswork for contractors. The simulation app incorporates information such as onsite weather conditions, both current and in the forecast, to provide a more accurate estimate of how fast the concrete will cure. These are just a few examples of how simulation helps inform business decisions, but the number of possible use cases is endless. Simulation data belongs anywhere decisions are made. When organisations build and distribute their own custom apps, everyone in the workforce will be able to make decisions based on forecasts that account for real-world complexities and the underlying laws of physics – without having to first learn how to use simulation software. The world is ever changing, and simulation apps help companies and teams of all kinds keep pace.
The Independent
5 days ago
- The Independent
Winning the future of work: why capability beats concept
SThree is a Business Reporter client There have been issues with skills gaps in the booming STEM industry for some time now. The pace of change and society's acute reliance on the sector's breakthroughs – from the green transition to AI to biotech innovations – has meant that the demand from companies to 'find talent' has skyrocketed. But, meanwhile, the supply of that talent is struggling to keep pace. It's not a comfortable situation for companies to be in. They have strong potential and ideas, through which they're trying to gain a competitive edge, but they can't find the right people to help them realise their ambitions. Indeed, according to our own global research, even top-performing countries are facing structural challenges – whether that's a shortage of engineering graduates, a lack of gender diversity or an overreliance on outdated sourcing models. The UK, for example, ranks eighth globally for its foundational and specialised education, yet it lags in innovation output – a clear sign that education alone isn't enough to drive growth, and that without targeted investment in workforce capability, even the strongest academic ecosystems risk underdelivering. These issues are not unique to the UK – it's a phenomenon being experienced at a global level. But what we've found in our role as an international STEM workforce consultancy is that the most successful businesses think in ecosystems. They're not simply filling vacancies; they're investing in the resilience and agility of their future workforce. That means thinking outside the box. It means recognising that your next high-impact performer may not come from a traditional background or follow a conventional career path. They may be a sector switcher, a self-taught developer or someone whose unique perspective proves to be the business's hidden advantage. And it means shifting from reactive recruitment to proactive workforce planning, identifying adjacent skillsets, investing in internal upskilling and building diverse teams equipped for complex, ever-evolving challenges. From our work with industry leaders, we've seen a consistent pattern among the organisations staying ahead of the curve. They decentralise hiring, moving beyond local markets, tapping into remote and international talent pools rather than restricting themselves to a narrow geography. For companies such as this, hybrid work isn't just a job perk or a benefit for incoming employees – it's a structural enabler for accessing hard-to-find skills and diversifying talent sources. Industry leaders co-create the pipeline, build strategic partnerships with universities and training providers, support non-traditional pathways such as bootcamps and apprenticeships and adopt skills-based hiring models. They don't wait for government policy to fix the system; they actively shape it themselves. And they plan for potential. They use data and workforce intelligence to anticipate emerging needs and act early, planning for the skills they'll need next, not just the roles they have now. Strategising like this to close skills gaps is a job for the whole company – it's far from simply an HR issue. It should be a business-critical priority that demands board-level ownership, strategic investment, leadership accountability and a long-term vision that spans regions and sectors. After all, breakthrough technologies are reshaping our economy, society and world of work. There are big wins to be had in this period of unprecedented and extraordinary technological promise across STEM industries. But this race to innovate is no longer just a battle of ideas – it's a battle for capability. The question is no longer how, or who, to hire, but how to build a lasting, adaptable team. Because in the end, it won't be the boldest vision or the brightest idea that wins. It will be the organisation that builds the capability to deliver, time and time again. SThree partners with forward-looking organisations to build the resilient, skilled STEM workforces needed to thrive in a changing world. If you're ready to stop chasing talent and start shaping capability, get in touch. Let's outpace tomorrow, together. Timo Lehne is CEO of Global STEM Workforce Consultancy SThree plc. Appointed CEO in April 2022, he previously led SThree's largest region, DACH (Germany, Austria and Switzerland). Timo began his career with SThree in 2006 as a sales consultant and rapidly progressed through leadership roles. He holds a degree in International Economics and brings nearly two decades of experience in STEM workforce solutions.
