Large Property Group needs Bookkeeper/Qualified Accountant
4988
$$
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- Proposals: 25
- Remote
- #32358
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41142352713336631659228822047086965430578872293588381986583
Description
Experience Level: Intermediate
Hi Guys,
This is going to be a hard job to explain so if you need any clarification, please do ask. I am a director (along with members of my family) of a large property company. I need bookkeeping/VAT returns and the statutory audit (if you can do them). If you cant sign audits, please ensure that you mention that in your bid - and please dont attempt to tell me you can, if you cant. That will result in me cancelling our arrangement. If you do tell me, I can make alterative arrangements with the statutory audits with several qualified accountants that I know.
I am a fully qualified UK Chartered Accountant, registered auditor and CTA. I do not want to do the accounts myself as I mainly dont have the time - with a growing family - and I also would prefer if my name wasn't on the financial assurance. It just looks better when we provide the group accounts to joint ventures etc.
I was paying in the region of £300-400k with E&Y. I always knew it was high but thats what you pay for them to audit the companies. As it turns out, they have revalued their work and they are quoting around £600k for this financial year. As you will read, the work is no way £600k's worth of transactions. It is their incredible charge out rates. I would know, up until 4 years ago, I used to be a partner for one of the top 4!
The group is arranged as such (I have not named the companies at this stage). Company A owns 100% of all the subsidiaries. NB: TO = Turnover before expenses:
- Company A (Ultimate Parent Company - Holding Company). Approx £26m in cash in various high interest accounts.
- Company B (Property Consulting/Joint Ventures) TO = £215k
- Company C (Pure Rental company, facilitates the letting of the groups properties which were recently revalued and are worth approx £11.2m as at 31 March 2010) = TO £789k
- Company D (Property Admin. Dealing with planning applications/EPC's etc for clients) = TO £45k
- Company E (Charitable trust with the beneficiaries being the directors children/spouses and immediate family)
There are 3 directors and 2 admin staff in the company. The directors draw minimal salaries (£6,475 a year) and prefer to take bi-annual dividends. The admin staff are currently paid £32k a year which is all paid through the PAYE system (which I subcontract to a separate company).
Average number of transactions:
- Company A (30-40 contra's on the companies bank accounts for the treasury reserve transfers). Only requires recording the interest received on the balance as it is automatically re-invested. Salaries and dividends are also paid from here.
- Company B approx 10 transactions a month in the region of £1-3k each. VAT registered.
- Company C aprrox 200 transactions a month. Incoming rentals from tenants, then expenses relating the rentals - service charges etc. VAT registered.
- Company D approx 50 transactions a month. Mainly invoices raised by the company to clients.
- Company E. Trust accounts. Prepared by me.
What I need from yourselves:
- Monthly management accounts for each company. I will give you an excel cash book at the end of business each month and I need outputs sent to me by the 15th of the following month. Quarterly VAT returns.
- Year end audit for the subsidiaries along with the parent. Please note that this is definitely an audit and as such you will need to verify that you can audit as part of your bid. As I mentioned earlier, if you cant, please bid anyway for the bookkeeping side. Current accounting date is 31 March 2010 - i.e. the audit is now due.
- Possibly visit our offices (Located in the Green Park area of Central London) once or twice a year - more if you are auditing the companies - to verify transactions and validity of the documents. They will be scanned to you if you require them on a monthly basis.
Please bid and let me know your costs - either per hour or all inclusive. Also, feel free to ask questions on the board as I have probably missed some info out, but can readily answer any questions.
Cheers,
Mark
This is going to be a hard job to explain so if you need any clarification, please do ask. I am a director (along with members of my family) of a large property company. I need bookkeeping/VAT returns and the statutory audit (if you can do them). If you cant sign audits, please ensure that you mention that in your bid - and please dont attempt to tell me you can, if you cant. That will result in me cancelling our arrangement. If you do tell me, I can make alterative arrangements with the statutory audits with several qualified accountants that I know.
I am a fully qualified UK Chartered Accountant, registered auditor and CTA. I do not want to do the accounts myself as I mainly dont have the time - with a growing family - and I also would prefer if my name wasn't on the financial assurance. It just looks better when we provide the group accounts to joint ventures etc.
I was paying in the region of £300-400k with E&Y. I always knew it was high but thats what you pay for them to audit the companies. As it turns out, they have revalued their work and they are quoting around £600k for this financial year. As you will read, the work is no way £600k's worth of transactions. It is their incredible charge out rates. I would know, up until 4 years ago, I used to be a partner for one of the top 4!
The group is arranged as such (I have not named the companies at this stage). Company A owns 100% of all the subsidiaries. NB: TO = Turnover before expenses:
- Company A (Ultimate Parent Company - Holding Company). Approx £26m in cash in various high interest accounts.
- Company B (Property Consulting/Joint Ventures) TO = £215k
- Company C (Pure Rental company, facilitates the letting of the groups properties which were recently revalued and are worth approx £11.2m as at 31 March 2010) = TO £789k
- Company D (Property Admin. Dealing with planning applications/EPC's etc for clients) = TO £45k
- Company E (Charitable trust with the beneficiaries being the directors children/spouses and immediate family)
There are 3 directors and 2 admin staff in the company. The directors draw minimal salaries (£6,475 a year) and prefer to take bi-annual dividends. The admin staff are currently paid £32k a year which is all paid through the PAYE system (which I subcontract to a separate company).
Average number of transactions:
- Company A (30-40 contra's on the companies bank accounts for the treasury reserve transfers). Only requires recording the interest received on the balance as it is automatically re-invested. Salaries and dividends are also paid from here.
- Company B approx 10 transactions a month in the region of £1-3k each. VAT registered.
- Company C aprrox 200 transactions a month. Incoming rentals from tenants, then expenses relating the rentals - service charges etc. VAT registered.
- Company D approx 50 transactions a month. Mainly invoices raised by the company to clients.
- Company E. Trust accounts. Prepared by me.
What I need from yourselves:
- Monthly management accounts for each company. I will give you an excel cash book at the end of business each month and I need outputs sent to me by the 15th of the following month. Quarterly VAT returns.
- Year end audit for the subsidiaries along with the parent. Please note that this is definitely an audit and as such you will need to verify that you can audit as part of your bid. As I mentioned earlier, if you cant, please bid anyway for the bookkeeping side. Current accounting date is 31 March 2010 - i.e. the audit is now due.
- Possibly visit our offices (Located in the Green Park area of Central London) once or twice a year - more if you are auditing the companies - to verify transactions and validity of the documents. They will be scanned to you if you require them on a monthly basis.
Please bid and let me know your costs - either per hour or all inclusive. Also, feel free to ask questions on the board as I have probably missed some info out, but can readily answer any questions.
Cheers,
Mark
Mark S.
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