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AUDIT SERVICES


AUDIT SERVICES Assurance and business advisory services

Our approach

We provide a range of assurance and business advisory services

We strongly believe that the audit, although a statutory requirement,

to a diverse client base ranging from small businesses and start

can add value to client organisations and assist management in their

ups to large medium sized companies. Our client portfolio includes

decision-making process. Our approach to the audit is to ensure that

businesses with turnovers ranging from £1 million to £120 million,

each project is well planned and produces no surprises.

both private and owned publicly listed businesses on the PLUS Market.

We are committed to providing the highest standards of service based on long-term, director-led client relationships. We strive to

We work for:

provide imaginative yet pragmatic advice and solutions, derived from

• small, medium and large private companies

a thorough understanding of our clients’ needs. This is made possible

• entrepreneurial and family enterprises

by the quality of our people and our depth of expertise at all levels.

Our assurance & business services include: • statutory audits

Reporting accountant

• transaction based support including due diligence • accounting advice

Where a company is seeking admission to PLUS, the reporting

• regulatory advice

accountant’s main responsibility is to carry out due diligence on

• valuations

the company’s financial position and report these findings to the

• business plans

Nominated Adviser (‘Nomad’).

• outsourced finance function The reporting accountant is independent of the company looking to list on PLUS and can therefore provide a thorough and impartial

Audit advisory

assessment of its financial condition. The work produced as a result of its deliberations usually comprises the Accountants’ Report

We are committed to providing an effective and where necessary,

(short form), the long form report and the working capital review.

a challenging audit. Ultimately, our audit approach is designed to

Each report is presented to the directors for comment before being

focus on the risks that may have material impact on the financial

finalised.

fundamentals as reflected in your financial statements. Good communication combined with honest exchange of views builds

• Short form report - is part of the admission document and sets

a stronger working relationship, brings fresh perspectives and the

out the historic financial information on the company. It includes

early identification to emerging issues. We aim to work with our

an opinion from the reporting accountant that the financial

clients to build an audit that works for the business whilst reflecting

information is true and fair for the purposes of the admission

the nature of the industry you operate in.

document . • Working capital review - looks at forward looking financials to

Auditing large groups to individual companies means our expertise is

ensure that the statement made by the directors in the admission

diverse, whether applying UK GAAP, IFRS and US GAAP we have the

document that the company has sufficient working capital after

technical expertise to assist in any assignment.

listing has been made after due and careful enquiry. • Financial reporting procedures – as part of the requirement for

Our audit services include:

PLUS listing a company needs to have adequate internal control

• statutory audit, whether under the Companies Act or other

procedures. Our dedicated team audit procedures and, where

legislation

appropriate, recommend practical suggestions in a formal report.

• interim audits • other statutory reports required from registered auditors under legislation • services as reporting accountants to PLUS Market • regulatory reports for professional bodies, such as The Law Society and The Financial Services Authority • industry specific documentary audits for many television and film documentary companies including Channel 4 and the BBC

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CORPORATE SERVICES Transaction based support: due diligence

Business valuations

We have worked closely with both corporate vendors and purchasers

Our established valuation approach incorporates the critical drivers of

for many years to meet the needs of banks and corporate acquirers

value including:

for authoritative due diligence and investigation services

• market conditions • industry dynamics

We provide the following due diligence services:

• the competitive environment

• financial due diligence

• key personnel

• financial Investigations

• minority holdings • share transfer restrictions

Financial due diligence

We work closely with each client to provide a bespoke service to meet your needs and your budget.

Our team has undertaken vendor due diligence as part of controlled processes. In addition to full due diligence investigations, our clients often use us for tailored work, including detailed tax due diligence.

Business plans We regularly help business managers with preparation of business

Financial investigations

plans. We provide added value beyond the traditional numbercrunching role performed by accountants.

We also carry out financial investigation work. We use our many years experience of financial investigation work to set the terms of

Our business plan services include:

the initial scope of work.

• advice regarding the content of a business plan • assistance on the preparation of a business plan based on provided information

Valuations

• production of a set of illustrative financial projections • independent validation of a business plan

Value is a core consideration for any business. Knowing the value of an asset, a company, a competitor or a target creates new business opportunities and is a key driver of wealth creation.

Business plan validation

Valuation services are required at every stage of a business life cycle

Many spreadsheets contain errors and apply assumptions which are

and our team undertakes engagements for a number of different

inconsistent with other data. The success of capital transactions is

purposes, including:

often crucially dependent on robust financial projections.

• buying and selling a business

Financial institutions and regulators often require independent

• transferring shares

assurance regarding the robustness of financial projections and we

• financing

have experienced staff who can provide this assurance.

• corporate restructuring • related party transactions • accounting and tax purposes • dispute resolution • share option schemes

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Our approach

Payroll

We have developed a methodology which is scalable depending on

Our payroll bureau offers a confidential service aimed at reducing

the level of assurance required. This may include:

the administrative burden on clients. With HM Revenue & Customs (HMRC) approved software and professionally qualified staff we are

• business plan narrative consistent with underlying projections

able to assist all our clients needs from hiring staff to filing statutory

• compilation of the financial projections on the basis of the

returns.

principal assumptions • key formulae and calculations in the model are logical and prepared on a consistent basis

VAT returns

• key risk areas which might prevent the projections being achieved • reasonableness of the principal assumptions

Our team can assist you by preparing monthly or quarterly VAT

• independent verification of the assumptions

returns. We also work closely with our VAT advisory team which

• sensitivity of the projections to changes in assumptions

provides specialist advice on VAT issues and problems.

• comparison of results from an independent financial model

Outsourced finance function

Company secretarial consultancy The administration in operating a company is more extensive than

We understand the pressures management is under, and for this

it may first appear. Our team has a wide range of commercial and

reason we have developed systems for taking away the burden of

corporate experience and can provide a professional and efficient

compliance chores, leaving you to deal with what counts: core,

service in the following areas:

revenue-generating activities. Company secretarial services We can provide a complete outsourced accounting and back office

• acting as corporate company secretary

service to business start-ups or more specific services to established

• company formations for private and public companies and LLPs

companies and partnerships. Our dedicated team will work with you

including the provision of ready made companies, electronic

to ensure your requirements are met, enabling you to focus on your

formations, same day and postal formations

core business issues.

• providing a registered office • acting as share registrars

Core services include:

• share issues and transfers

• accounting services • payroll • VAT returns • company secretarial consultancy

• maintenance of statutory books • preparation of documents and attendance at board and general meetings • preparation of meeting minutes and resolutions • updating memorandum and articles of association • company searches

Accounting services

• dissolution services • group re-organisations

Our team provides expert assistance and support on all aspects of accounting and management reporting. Our portfolio ranges from

• changes in share capital including purchase of own shares and multi share classes

owner managed businesses to subsidiaries of overseas companies. Using the latest technology we are able to offer an electronic We work in partnership with you to produce management

company formation service for limited companies. New companies

information that best suits the needs of your business and your

can be formed within 24 hours. We can take care of complex share

management team.

structures and by linking into our corporate tax team we can provide advice on the tax implications of transactions including stamp duty

Specifically, we can assist in the following areas:

and VAT.

• preparation of management accounts and reports • preparation and assistance with day to day bookkeeping and compliance • setting up and installing of accounting systems • preparation of budgets and cash flow forecasts

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INTERNATIONAL China For the past four years Silver Levene has developed a specialist division dedicated to supporting Chinese companies already established in the UK, as well as China based firms seeking to enter the UK market. The China team has a range of professional knowledge and language skills (Mandarin and Cantonese) which are invaluable to the firm and we are engaged in a range of exciting projects reflecting the huge growth in the Chinese economy. We provide the following services to our Chinese clients: • statutory audit, • services as reporting accountants to PLUS and AIM Markets

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SILVER LEVENE | 37 WARREN STREET | LONDON W1T 6AD T. +44 (0)20 7383 3200 | F. +44 (0)20 7383 4168 | wwww.silverlevene.co.uk

Silber Levene  

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