Fawcetts are registered auditors under the Companies Act and have a large and highly experienced audit team able to deal with large companies and specialist audits for charities and independent schools.
In order to obtain and retain this registration, we have to demonstrate our ongoing commitment to exacting quality and technical standards. The audits we prepare adhere to all professional standards issued by the Auditing Standards Board, the Financial Reporting Council and the Institute of Chartered Accountants in England and Wales and as part of our membership of the UK200Group we have annual independent file reviews, assuring a further check for meeting quality standards.
Currently the turnover threshold for companies requiring a statutory audit is in many cases 10.2m, however some companies whose turnover is under the statutory threshold require an audit to help them comply with tax or banking obligations, or simply to act as a financial health check and flag up any potential issues or areas for improvement.
Our audits fulfil all professional guidelines and are undertaken in a thorough but discreet manner.
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The cash flow difficulties that late payments cause small businesses are well known. However, the cost of recovering late payments is less well publicised, despite being a major and growing expense – coming in at around £9,000 last year for an average business.
Research by Bacs Payment Schemes found that the cost of recovering late payments has increased considerably in recent months. Collecting money owed to them collectively cost small businesses £6.7 billion in 2018, having risen from £2.6 billion in 2017. The figures comprise costs such as staff time and interest on borrowing taken out to make up for the shortfall caused by late payments.
Small businesses’ efforts to tackle the problem could be beginning to pay off – with the total value of late payments falling from £14 billion in 2017 to £13 billion in 2018.
Paul Horlock, Chief Executive of Pay.UK of which Bacs is a part, said: “When smaller companies do well, so does UK plc; as the backbone of the whole economy, the significance of SMEs cannot be overstated.”
Link: UK small businesses face average £9,000 bill to recover late payments
"Fawcetts take a very professional approach via every point of contact. The management team would not hesitate to recommend the services of the Fawcetts team to any business regardless of size and industry"
G Blamire - Salisbury
"Through personal experience i have experienced that the size and scale of a business is immaterial to Fawcetts - the commitment is always the same and they really make you feel as though you and your business matters."
Lou Whiting - Salisbury
"James has always gone beyond the traditional approach of just accounting for what we have already done and continues to help us develop our company in testing times."
Steve Rawlins - Gosport
"Fawcetts provide excellent support tailored to our business needs. They are always available for advice and have a reassuring and professional approach that makes you feel as though you are their only client."
Brian Keane - Stockbridge
"I have been very impressed by the service and support I have received and I'm looking forward to working with Fawcetts to grow Travel Waves Marketing to the leading Marketing Services Company here in the South West."
Claire Riches - New Forest
"We have been very impressed with the excellent high level of professional service and care that Custom Property Care Ltd have received from Fawcetts Accountants. They have dealt with all our needs efficiently and to a very high standard"
Kelly B - Salisbury
"A breath of fresh air' - Straight forward, understandable, approachable, informative, good value accounting. Xero accounting is so quick & simple to use!! Thank you. I enjoy my side of the deal now!"
Sue S. Devizes
"They are a modern and forward thinking company who love working with small businesses and start-ups; helping them grow online by offering relevant services along with pro-active advice."
Jack McConnell - Bath
"James has been a huge help to me as I look to incorporate Creativemint, talking me through all the options, offering advice and helping me to feel relaxed and happy about the transition and services I will need."
Miles Murray - Salisbury
"Nick has been a great help year on year providing my business with efficient services and ever useful and practical advice."
Mrs Zanne St John Marchmont
"We have found Nick to have an exceptional ability to grasp the issues we have as a law firm operating internationally. He helped us to manage our set-up and has guided us as we grow, and is considered to be one of our most trusted advisors."
Andy Leppard - Somerset
"We would have no hesitation in recommending Fawcett's for any accounting requirements and we look forward to many more years working together with them."
Jeremy Chalke - Salisbury
"I chose Fawcetts due to their excellent reputation. Whilst there are a number miles between my work base and my accountant; distance has never been as issue as they are always very responsive."
Julian Bennett - Bournemouth