Flemmings BPO Private Ltd (India) TRAINING TO BECOME A CHARTERED ACCOUNTANT OR CERTIFIED ACCOUNTANT WITH FLEMMINGS Presentation of ACCA Platinum Award by Mr Andrew Harding, Chief Executive of ACCA UK on 25 th July 2003 Tun Dr Mahathir Mohammad (Former Prime Minister of Malaysia) with Hitesh in 2008 Visit By Mr Mark Spofforth, President of the ICAEW on 14 th September 2012 Visit by Mr Martin Hagen, President of the ICAEW on 3 rd November 2009 Presentation of Croydon Business Award for Best Business for Training and Development by SLB Business Support on 1 st May 2013 Presentation of South London Business Award for Best Business for Training and Development on 4 th July 2013
Page No Contents Flemmings History Partners Award-Winning Training & Development Recruitment and Employment Criteria Our Clients Audit and Accounting Taxation Corporate Finance Financial Planning Property Services Business Development International Wealth Management Outsourcing & IT Projects Family Wealth Flemmings BPO Pvt Ltd (India Office) Contact Details
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Flemmings History 1 Founded in 1989, Flemmings has developed into a dy- namic and enterprising business. By listening to and understanding the needs of our clients, we continually strive to research and present innovative opportunities to help enhance their wealth. Through this, our busi- ness has developed, not only as a firm of Chartered Accountants, but as Financial Advisers, Property Con- sultants and Wealth Managers.
At Flemmings, we recognise the importance that cli- ents place on present and future financial security for their businesses and their families. With this as our an- chor, we have developed our business to ensure that our services nurture the financial aspirations of our cli- ents.
Our team of over fifty staff, which is selected against a strict criteria, are based in the UK and in Chennai, In- dia. As an authorised training organisation by the ICAEW and the ACCA, we ensure that our staff re- ceive the best training and experience to provide a high quality service to our clients. Hitesh C Shah FCA, DipFPS, CeMap Managing Partner
Hitesh qualified with Simmons Gainsford LLP in 1986 and after qualifying, Hitesh joined Smith and Williamson where he gained extensive experience in Corporate Finance. He was able to en- hance this experience further at BDO Binder Hamlyn, where he was able to demonstrate a very good understanding of Per- sonal Financial Planning.
Hitesh is the Cofounding Partner of Flemmings, and manages the Group overseeing its strategic growth & development.
Sailesh P Shah MA (Cantab), FCA, DipFPS, CeMap Audit and Tax Partner
After graduating from Cambridge University in 1983, he joined KPMG in London. He qualified as a Chartered Accountant in 1986 and continued his post qualification training in audit, ac- counting and tax with KPMG.
Sailesh is the other Cofounding Partner of Flemmings, and is currently the Audit, Accounting and Tax Partner.
Sumitra Shah BA (Hons), FCA Finance, Training and IT Partner
After graduating in Psychology from Warwick University, Sumi trained as a Chartered Accountant with BDO Binder Hamlyn. She then joined Lombard North Central plc where she gained extensive experience as a Group Management Accountant and later enriched an interest in IT as a Business Analyst.
She joined Flemmings in 1999, when the firm was on the spring board of an extensive expansion plan and is currently the Fi- nance, Training and IT Partner. Hitesh C Shah Managing Partner Sailesh P Shah Audit and Tax Partner Sumitra Shah Finance and IT Partner
Partners 2 At Flemmings we recognise that our staff are our main assets. We make every effort to ensure that they are trained to a very high professional standard to provide a highly skilled and professional service to our client.
Training & development is an integral part of Flemmings and our unique approach has been applauded and recognised on many occasions including our very recent achievements as the Best Business for Training & Development and finalist for Best Busi- ness in Customer Service at the Croydon Business Awards. We have also been recognised as the Best Business for Training & Development at the South London Business Awards 2013. In ad- dition, we were selected as finalist for the Independent Firm of the Year (South East England) and the Training Team of the Year (Whole of Britain) at the British Accountancy Awards 2013. For 2014, we have been shortlisted as finalists for Best Medium Sized Firm and Best Firm for Training & Development at both the Croy- don Business Awards and London Business Awards.
Our training ethos has been accredited by the ACCA Platinum Award. Additionally our office has been visited by four Presidents of the ICAEW in a decade.
Our work environment is very cosmopolitan and has a warm and friendly atmosphere. We have staff from many countries including Malaysia, Brunei, China, Hong Kong, India, Mauritius and Kenya. Even though the origin of our staff varies, we find that the culture and work ethos is similar and we find it rewarding when staff from these backgrounds choose Flemmings to achieve their career am- bitions.
All the staff we recruit will have met our strict criteria of a strong academic background and have undergone our recruitment proc- ess of first and second interviews which last a week.
Award-Winning Training & Development 3 President of ICAEW being welcomed by Hitesh & Sumi Shah 2009
Award-Winning Training & Development 4 President of ICAEW addressing staff at Flemmings 2002 President of ICAEW with Sailesh Shah2004 President of ICAEW with Hitesh, Sailesh & Sumi Shah 2012 Our recruits are in the main ACA trainees or ACCA af- filiates. The ACA trainees are usually graduates from UK universities such as LSE, Manchester and War- wick, with at least a strong 2:1. They are recruited on a four year contract and all training and study leave is paid for by the firm. The ACA trainees are sent to Kap- lan which is deemed to have the best tutors and suc- cess rates for this qualification.
Our ACCA affiliates will have completed all their ACCA papers with good first time passes and demonstrate a strong academic background. ACCA affiliates are re- cruited on a three year contract. Whilst we do not pro- vide any further study support during their contract we do believe that the ACCA affiliates get the same level of training and expertise to be on a par with the ACA members on qualification.
As a small to medium sized firm the training will be very individual, personal and partner-led. We recruit staff with a view to providing them with the best oppor- tunities to develop personally whilst they are training towards their professional qualification. We believe in training staff to be wealth managers and business ad- visors, not just accountants.
A fitting tribute to this ethos is when the skills of our qualified staff are recognised by larger organizations of the likes of KPMG, PWC and Deloitte. Many of our staff have returned back to their country of origin and now hold senior positions in large corporations. It is encouraging to know that their foundations were laid at Flemmings and that thereupon they have been able to embark on enterprising careers. A recruit would typically be placed in at least two of our departments where they would be trained by a senior. Whilst Partners do have an input in the day to day running of the firm, we like to give our staff re- sponsibility of managing a portfolio of clients and pro- jects, to provide them with the opportunity of develop- ing their time and management skills. We believe that by recruiting high calibre staff, it is important to con- stantly set them challenges and allow them to expand their skills and discover their abilities.
Since the firms inception, Flemmings has trained several international graduates who have all pro- gressed on to careers in larger firms or investment banks. To us, it is truly an achievement when the staff return to their country of origin and achieve high posi- tions as qualified business advisors. Particularly in growing economies where the vision is to achieve a knowledge-based service economy, the experience that a trainee would bring back from Flemmings would be invaluable.
Award-Winning Training & Development 5 Staff in the training room ready to commence Internal Training Khaliz Arriffin and Nurthaqina Hatim completed their ICAEW training and have returned to Malaysia Mr Michael Groom National President of ICAEW Visit by ICAEW President, Mr Martin Hagen, 3 rd November 2009
Recruitment and Employment Criteria 6 Suhaina, Ronald, Haqqa and Siti engaging in a discussion in the Board Sumi Shah, Khaliz Arriffin and Nuthaqina Hatim Malaysia Intake Criteria ACA Trainees ACCA Affiliates (Graduate and Professional Stage) SPM 9 As 9 As University At least a CGPA of 3.30 but preferably 3.60 and above from a good university At least a CGPA of 3.30 but preferably 3.60 and above from a good university Professional Stage: Good first time passes for all papers Preferable Universities Universiti Malaya, University Kebangsaan Malaysia, Universiti Sains Malaysia, Univer- siti Teknologi Petronas, Multimedia Univer- sity Malaysia, University of Nottingham Ma- laysia, Universiti Teknologi MARA Universiti Malaya, University Kebangsaan Malaysia, Universiti Sains Malaysia, Univer- siti Teknologi Petronas, Multimedia Univer- sity Malaysia, University of Nottingham Ma- laysia, Universiti Teknologi MARA Contract Details Length of Con- tract 4 Years 3 Years Study Leave Provi- sion Yes N/A Tuition College Kaplan Financial N/A UK Intake Criteria ACA Trainees ACCA Affiliates (Graduate and Professional Stage) A-Levels 3 As 3 As University At least a strong 2:1 but preferably 1st Class Honours from a good UK/EC univer- sity At least a strong 2:1 but preferably 1st Class Honours from a good UK/EC univer- sity and good first time passes for all papers Professional Stage: Good first time passes for all papers Preferable Universities Oxford, Cambridge, London School of Eco- nomics, Warwick, Manchester, Southamp- ton, Imperial College, University College London, Durham & Kings College. Oxford, Cambridge, London School of Eco- nomics, Warwick, Manchester, Southamp- ton, Imperial College, University College London, Durham & Kings College. The way we service our clients is unique in that we recognise that their busi- ness aspirations are inextricably linked with their personal aspirations.
We recognise that our clients devote a lot of effort in their business to provide future personal financial security for themselves and their dependants.
With this in mind we always strive to ensure that whatever business planning advice we give to our client, it is complimentary to their personal financial well being.
Our clients cover a wide range of sectors. The following list is not exhaustive as our high calibre team of staff are always adaptable to new sectors.
Our Clients 7 Doctors Family-run Businesses Limited Companies Dentists Manufacturers Partnerships Pharmacists IT Consultants LLP Opticians Property Investors Trusts Barristers Retail Entrepreneurs Sole Traders Solicitors High Net Worth Individuals
Audit and Accounting 8 Nurul Amani Khairuddin BSc (Hons), ACA Trainee Sai Premkumar ACA (ICAI), MBA Norfauzana Azizi BSc (Hons), ACA Trainee Hanish Shah FCCA, Manager, UK Kee Shu Phang BA (Hons), ACA Trainee Our Audit and Accounting division undertakes the preparation of ac- counts for self employed individuals, partnerships and companies.
Our comprehensive service includes: Audit of accounts Preparation of Statutory accounts Preparation of Management accounts Book keeping VAT Computation Advice on accountancy systems Payroll services Preparation of Trust accounts Preparation of Pension Scheme accounts
By undertaking the role of our clients accounts department, we help improve management efficiency by delivering necessary and valuable information at the right time, solving problems and avoiding risks. Our personalised approach ensures that we are able to identify and manage all areas of business opportunities and threats, not just com- pliance issues related with audit. Vedant Shah ACCA Affiliate Kunal Shah BSc (Hons), ACA Trainee Wei Hao MSc, ACCA Member As tax advisors we take a practical and long term approach, planning well in advance to maximise benefit and minimise risk wherever possible. Compliance is just the first step; we chal- lenge prevailing tax wisdom constantly, seeking innovative so- lutions to the most complex tax problems.
We specialise across a range of industries allowing us to dem- onstrate expertise and exercise innovative strategies for plan- ning of: Personal taxation issues Corporation taxation issues Exit strategies Inheritance Tax mitigation
We also provide advice to decipher complex VAT issues as well as handle any tax investigations by presenting the most effec- tive strategy to manage the process.
Taxation 9 Atikah Abdul Halim BA (Hons), ACA Trainee Mona Dhowtall BSc (Hons), ACA Finalist Muhaimin Hussain BSc (Hons), ACCA Affiliate Taxation is a highly complex area and always evolving. Our specialist tax team provides services for: Small businesses Private individuals Company Directors Partners Personal: We look after our clients in respect of their personal affairs by providing mortgage services for both residential properties and buy-to-let investment properties.
Corporate: Lead Advisory services by focusing on improving clients prof- itability and long term growth opportunities ties. Specialising in areas such as pharmacies, surgeries and nursing homes.
Finance: Preparation of business plans Negotiation of finance for businesses Raising of finance for property related deals Debt re-structuring to reduce costs
Acquisitions, Mergers and Disposals: Valuations Project management and liaising with banks, solicitors and valuers.
Corporate Finance At Flemmings we like to see our clients grow and we play a crucial role in facilitating the financial side of any expansion plans. Since we are involved in the preparation of accounts for our clients we are much more likely to be aware of the best action to take when it comes to raising finance for their busi- ness. We will assess the best form of financial strategy to take up to suit their plans, be it a bank loan or overdraft, private equity or capital input from personal resources. 10 Faqihuddin Mustaffa BA (Hons), ACA Finalist Amar Shah BSc (Hons), ACA Trainee At Flemmings we recognise there is a link between our clients business and their personal finances. The awareness of our clients business enables us to give high quality financial ad- vice which is specific to the clients circumstances.
Our role is to ensure that our clients have the long term finan- cial security they desire. Our clients can therefore devote their time to grow and develop their businesses fully.
As independent financial advisors, we carry out extensive mar- ket research before making any recommendations to clients. Because we have an overview of our clients business and their financial position, it is natural to make recommendations that suit the clients requirements.
Services and Products that we offer: Life Assurance and Critical illness protection Pensions, retirement and inheritance tax planning Savings Investments Mortgages School fees planning General Insurance Tax efficient investments such as ISAs and VCTs
Financial Planning 11 Anjali Shah BSc (Hons), ACA Mitesh Gosrani ACCA Gaurav Chavda BSc (Hons), ACA Trainee Suhaina Mohammed BA (Hons), ACA Trainee Hasnun Ahmad Yusof BA (Hons), ACA Trainee At Flemmings we recognise that our high net worth clients have an interest in property investment. To meet this aspiration we have sourced, researched and launched several property invest- ment opportunities.
Examples of such investments are shown in the table below:
Property Services As part of our service, we source and arrange the finance, and manage the borrowings for the duration of the investment. Our property services department is also able to provide a port- folio management service and advice on acquisitions and dis- posals of property, as well as: Search Finance Insurance Valuations Rating Landlords & Tenants Type Transaction Amount Commercial Office, retail, leisure, industrial, retail warehouse, healthcare 157 million Residential Buy to Let investments, Devel- opments 17 million Nimish Shah BSc (Hons), ACMA Manager 12 Arjuna Mahendra ACCA Affiliate By their very nature, property investments tend to be for the long term and require financing.
Business Development Zunurain Usman BA (Acc), ACA Trainee Dipesh Galaiya ASc (Hons), ACA, CertPFS Manager
The Business Development team is evolving continually to meet the sophisticated needs of clients.
Our role is to provide solutions to the complex financial and tax issues that clients face, some of which have been described below: The range of services provided includes:
Tax Planning advising clients on matters relating to Income Tax, Capital Gains Tax and Corporation Tax.
Inheritance Tax and Estate Planning having built their businesses and personal wealth over the years, clients are faced with challenges such as succession planning, estate planning for their wealth and plan- ning for the significant Inheritance Tax liabilities. We assist clients in assessing their needs and the issues they face, evaluate various strategies to build be- spoke solutions to meet their needs.
Enterprise Investment Schemes assisting clients to acquire new businesses using tax efficient strate- gies like the Enterprise Investment Scheme which of- fers attractive tax breaks to investors. Our role is to advise clients on the complex rules that govern such schemes and liaising with HM Revenue and Customs to seek their approvals.
Corporate Finance assist clients in raising equity and debt capital to help grow their businesses or en- hance their investment returns. 13 The International Department specialises in 'Wealth Management' for medium to high net worth clients. The client bank comprises of non-UK residents as well as UK residents looking to benefit from offshore planning and management of assets.
The range of services provided includes:
Banking Facilitating account opening with international banks and manage- ment of the accounts.
Insurance Advice on and arrangement of various insurance cover such as Life, Critical Illness and Endowments for savings.
Investments Advice, planning and effecting investments across the different as- sets classes i.e. cash, bonds, equities and property.
Taxation of Trusts and Offshore Companies International tax planning including non-domiciliary and use of structures such as offshore companies and trusts.
International Wealth Management The concept of Wealth Management can be summarised as follows:
Wealth Creation
Wealth Enhancement and Preservation
Wealth Distribution Suman Mukherjee BSc (Econ), ACA Ashraf Salim BSc (Hons), ACA Finalist Farquar Haqqani BSc (Hons), ACA Trainee Ilman Zainuddin BSc (Hons) ACA Trainee 14 Long Lot Liaw, Ronald BA (Hons), ACA Trainee
Outsourcing & IT Projects Kamil Ibrahim BSc (Hons), ACA Trainee Outsourcing We work closely with our India team to: Develop the marketing strategy and promote the operations for Flemmings BPO India. Manage client relationships to ensure that the work delivered by our India team is at a quality and standard that our clients require.
IT Projects As part of our IT services we undertake specific projects both within Flemmings and for our external clients based on their re- quirements. These services aim to increase operational efficiency both within Flemmings and for clients businesses, through the op- timum use of IT resources.
We assist clients with streamlining their systems; including provid- ing advice in relation to their IT systems, setting up the practice management systems and database management services. Research on the sector specific IT systems Preparing recommendations and proposals Planning, initial implementation, testing and follow up Our team specialises in providing outsourcing and IT services to clients to increase their op- erational efficiency and to minimise costs. Our operations in Chennai, India provides a valu- able support function to the teams based in the UK. The bulk of the data processing is carried out by our India team, allowing the UK team to promote value-added services. 15
Family Wealth Siti Farhatul BA (Hons), ACA Trainee Audit & Accounting Maintaining of accounting records Preparation of management accounts Preparation of cash flow forecasts Preparation of annual statutory accounts Audit 16 Banking Treasury management Review of Borrowing Negotiating terms with Banks At Flemmings we also help and manage family based businesses and private wealth.
The following services are provided by us: Every family, looking at the next generation, hopes to confer ad- vantages that are more than just material and financialto incul- cate character and leadership, to inspire creativity and enterprise, to help all family members find and follow their individual callings, and to avoid the financial depend- ency and loss of initiative that can all too often be an unwanted con- sequence of financial success. Yet many families never succeed in realizing that vision, much less sustaining it for three, four, or five generations and beyond. Tax & Financial Planning Succession planning Drawing up wills and reviewing with family
Flemmings BPO Pvt Ltd (India Office) J. Balasubramanian ACA CEO Chennai Office President of ICAEW , Martin Hagen with J Balasubramanian 2009 J. Balasubramanian trained to become a Chartered Ac- countant with Flemmings. After completing his training with us, he went back to Chennai, India and set up Flemmings BPO Private Limited which deal with the outsourcing of work from UK and Africa. India Office He has a team of 20 staff that work under him and are currently providing the following ser- vices for outsourcing: Book Keeping VAT Returns Preparation of Management Accounts Payroll Preparation of Statutory Accounts Preparation of Trust Accounts Preparation of Tax Returns 17 Contact Details Training Partner Sumi Shah Telephone : +44 (0)20 8665 7050 Fax : +44 (0)20 8665 6601 Email : recruitment@flemmings.co.uk sumi@flemmings.co.uk Website : www.flemmings.co.uk 76 Canterbury Road, Croydon, Surrey, CR0 3HA Tel: 020 8665 7050 Fax: 020 8665 6601 Email: info@flemmings.co.uk Website: www.flemmings.co.uk Best Business For Training & Development Best Medium Sized Business