Our accountancy team has decades of experience, with a particular emphasis on financial services and the Lloyd’s of London insurance market.
Most of our clients outsource their book-keeping needs and financial statement preparation to us. We are a leading provider of accounting and related services to limited liability members at Lloyd’s, having been instrumental in helping the market to create and implement these structures.
We have a complete understanding of the accounting requirements for all approved Lloyd’s vehicles including:
- Limited Liability Partnerships (LLPs)
- Scottish Limited Partnerships (SLPs)
We cover a wide variety of areas, including:
- Calendar year profit or loss of Lloyd’s syndicates
- Cost of capacity and any gains or losses arising on sales
- Movements in Funds at Lloyd’s (FAL) and any interest earned on cash balances or dividends received on investments
- Interest earned on any company/partnership bank accounts
- Distribution of Lloyd’s profits or collection of Lloyd’s losses
- Any other income and expenditure of the limited liability member
- For SLPs and LLPs, maintaining details of members’ loan accounts
- Preparation and submission of US Tax Expense Declaration Forms to Lloyd’s