Meet the supplier: Accounts and Legal Consultants Limited
Helping you spend more time running your business, say hello to the Camden accountancy business targeted at "entrepreneurial clients"
Name: Chris Conway
Company: Accounts and Legal Consultants Limited
Address: Grand Union House, 20 Kentish Town Road, London, NW1 9NX
Key services: Accounting, tax, business advisory and legal services
Founded in: 2013
Who are you?
Accounts and Legal is a firm of accountants and business advisers, founded to provide insightful and commercially sound support and advice to entrepreneurial clients.
From start-ups who need a trusted source of knowledge when getting going to established businesses who feel under-serviced the traditional accounting model, Accounts and Legal are here to support your growth ambitions.
Tell us about your firm. What makes you different from the rest?
We pride ourselves on being able to help clients deliver on their ambitions as well as stay on the right side of their compliance obligations.
We believe accountants should do more than just prepare year end accounts and tax returns, they should understand their client and provide advice, opinion and direction when necessary.
Accounts and Legal deliver compliance services in parallel with impactful and actionable commercial advice.
Who are the key members of your team?
Managing director Chris Conway has led the firm since November 2015. Having spent 10 years at a ‘Top 20’ accountancy firm, Conway knows how the established model operates and has sought to leverage technology and particularly cloud solutions such as Xero (we are a platinum Xero partner), to improve the efficiency and simplicity of client systems whilst allowing clients access to better information from which to make vital business decisions.
Action point: Search shared workspaces and assess if it could be worth co-working with other start-ups (external site, opens in new tab)
Louis Lines is the firm’s business consultant, helping clients deal with issues from raising money to enhancing their marketing strategy. He is the firm’s ‘Mr Fix -IT’ having worked across the spectrum of industry from the trades to banking and having completed an MBA at University of Manchester. He is well positioned to be the sounding board clients need when a challenge or opportunity presents itself.
Oweiebi Soroh is one of the firm’s client managers, running a portfolio of clients supported by a team of accountants. Oweiebi is ACCA qualified and has an MBA and is responsible for delivering high quality, timely financial reports and returns to clients. He is the technical lead of his London team and also completes system implementation and efficiency review projects for clients.
What size of business do you work with best?
We offer bespoke accounting and tax solutions to clients, from brand new start-ups to established enterprise, however our sweet spot is generally an existing business looking to innovate with up a turnover of between £1m to £5m and aspirations for much more.
What services do they use you for most?
Compliance is a big part of our service offering, including statutory accounts, corporation tax returns, VAT services, and self assessment tax returns. In addition to this, key commercial services such as management account packs, financial projections and business plans are an ever increasing part of our fee income
How much of what you do could businesses do for themselves?
Although much of what we do for clients they could do for themselves, what most of our clients recognise is that their time is better spent doing what they know – running their business. By using Accounts and Legal, clients free up time to concentrate on growing their business.
Not only that but, as a result of being close to the numbers, we are then able to provide invaluable insight and support to the business when required.
Give us three common problems/scenarios that your firm solves – and what you do:
- We ensure that our clients are compliance with their statutory filing and HMRC obligations.
- We improve clients access to reliable financial information from which they can make informed business decisions.
- We provide a trusted source of answers to general business questions. We provide unlimited access to our experts for questions that arise from running a business.
Tell us about one of your clients and what you’ve done for them:
We were contacted by a creative agency who had a long standing VAT problem which previous accountants had been unable to resolve, together with outstanding accounts and VAT returns. We unpicked the VAT problem over the course of several months and resolved the issue with HMRC.
Having taken care of the urgent deadlines we then turned our focus to the ambitions of the entrepreneurs. They had structured the business as an LLP, landing them with a substantial income tax bill despite the fact the majority of the profits were being reinvested into the business.
Furthermore, they wanted a structure that allowed them to bring new talent in, incentivised by running their own business, but using their brand. We devised a new franchise type structure to meet their requirements. They have since opened two new franchises and are actively seeking more, both in the UK and overseas.
Are you expensive? Tell us more about your pricing structure.
Our fees are tailored to an individual client’s business thereby ensuring that you only pay for what you need. Fees are agreed in advance and charged on a monthly basis, as your accountant we understand the importance of cash flow so avoiding a big end of year accounting bill is another way we support our clients.
We are not the cheapest service but neither do we charge ‘Big Four’ rates – our prices allow us to deliver on what we promise.
How long have you been based in North London?
We have always been based in Camden, but have an ambitious growth plan of our own. Our second office just opened in Brighton and we have new locations planned for the future.
What business resources in North London would you recommend?
North London is almost overrun with resources but identifying good ones can be a challenge. Of course the London Chamber of Commerce is a good resource and it runs good networking events.
What are the top reasons for a start-up business to set up in London?
- Largest concentration of people and businesses in the country
- International destination and business center
- Diverse array of expertise available to support growth
- Access to funding opportunities
- Great place to live and work
If you’re setting up a business in North London, or thinking about starting a business in North London, read our dedicated guide here.