The Coventry & Warwickshire Local Enterprise Partnership was created in early 2011 and became incorporated in September 2012 as a company limited by guarantee. It has external support for all bookkeeping and management accounting services from its inception. The financial characteristics of CWLEP Ltd are as follows:-
- The company is not VAT registered.
- It does not operate a payroll at the moment and employs no staff.
- There is a single bank account (with HSBC).
- It has a petty cash float on an imprest system for minor office expenditure.
- The company secretary Roger Dowthwaite is in the process of being issued a company credit card for internet and telephone purchasing of minor expense items.
- The company currently pays suppliers by manual cheque, but wishes to pay by BACS in the future.
- All payments must be signed-off by two authorised signatories; there are currently four signatories, the company secretary, the Chairman and two executives.
- The company’s financial year end is 31 March.
- In the first six months of trading as a Company, 50 invoices totaling £130,000 were paid.
- In the year to 31 March 2014 the company paid 180 invoices totaling £670,000.
- The company expects these volumes to maybe double in 2014/15.
The company’s auditors are Dafferns LLP based in Coventry. Currently the company’s books are kept on a single spreadsheet that records all bank payments and receipts.
CWLEP Ltd now to wishes to move Bookkeeping and Accounting Services from its current provider and is issuing this ITT to encourage interested accounting firms to submit a tender to provide the following services :-
- Recording of all transactions and managing/reconciling bank statements.
- Preparation of payments ready for authorisation and sending payments to suppliers with appropriate remittance advices.
- Preparation of all sales invoices and sending to customers.
- Telephone support to manage all conversations with suppliers and customers.
- Preparation of monthly management accounts for the board of directors.
- Liaising with auditors appointed by the Company.
In the future the company may require:
- Assistance with VAT.
- Payroll services.
- The ability to remotely interrogate the accounting system. Including the ability to view online images of the prime documents such as suppliers invoices.
The company wishes to pay for these services monthly and contract for a two year period up to 31 March 2016.
Please provide a quotation along with a description of how the service would be provided and any matters you wish to draw to the company’s attention.
The closing date for responses is 30 June 2014 and should be addressed to:-
Mobile: 07768 688567