Case Study – Legal Services Industry
A leading barristers’ chambers based in London.
Accounting Client
A leading barristers’ chambers based in London.
Accounting Problem
The chambers employed their own temporary bookkeeper and engaged the services of an accountant to submit the annual filings. There was, however, a gap in terms of regular advice, management accounts and cash-flow reporting.
Processes and procedures also needed reviewing and improving.
The chambers also needed recruitment support in sourcing a permanent bookkeeper for the longer term.
Accounting Solution
We allocated one of our senior accountants to work on-site between 2-4 days per month delivering on the following:
- Provide strategic input to the Chambers’ Manager in respect of the development and implementation of financial processes and procedures concerning the chambers accounting services.
- Provide professional guidance to the chambers’ accounts administrator.
- Provide assistance to the chambers’ manager in respect of the budget process.
- Prepare quarterly management accounts, including spend against budget.
- Prepare monthly cash flow reports and forecasts.
- Monitor the Chambers’ accounts assistant and reporting to chambers management as appropriate.
- Prepare the year-end accounts with full supporting schedules and assist the chambers’ auditors in respect of the annual accounts.
Using our sister company, Braant Recruitment, we later sourced a permanent bookkeeper.
Accounting Result
- Processes and procedures were streamlined which improved security and compliance.
- Delivery of a new management pack.
- Permanent bookkeeper sourced.
A full or bespoke accounting service
Our accounting services cover all the financial support your business will need.
Unlike many accounting firms, we offer a full bookkeeping service, as we believe this is the foundation of an effective accounts function.
Experienced chartered accountants at Braant Accountants, meanwhile, will handle your annual accounts and help keep you fully compliant with HMRC and Companies House.
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