Award

External Audit Services

GENTOO GROUP

This public procurement record has 1 release in its history.

Award

07 Feb 2023 at 15:42

Award Notice
Summary of the contracting process

The Gentoo Group is seeking to award a contract for External Audit Services, including accountancy advisory and loan covenant compliance services. The contract will cover various entities within the Gentoo Group with different filing deadlines, annual loan covenant requirements, and a 36-month duration extendable up to 60 months. The buying organisation, Gentoo Group, is a regional authority operating in the housing and community amenities sector based in Sunderland, United Kingdom.

This tender, awarded to Beever and Struthers, offers business growth opportunities for companies providing financial auditing services. The procurement process has been completed with a focus on quality (70%) and price (30%). Businesses well-suited to compete in this tender are those with expertise in financial auditing services and experience in providing external audit, accountancy advisory, and loan covenant compliance services to organisations similar to the Gentoo Group.

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Notice Information

Notice Title

External Audit Services

Notice Description

External Audit services to include, accountancy advisory and loan covenant compliance services

Lot Information

Lot 1

Gentoo Group Limited ("Gentoo", "The Group") are seeking to award a contract for the provision of External Audit Services. The Successful Supplier will be required to provide external audit, accountancy advisory and loan covenant compliance services to the Group. The Group includes the following entities all with a 31 March year end: * Gentoo Group Limited Parent housing association and registered provider of social housing. Parent company of all subsidiaries below. * Gentoo Homes Limited A private limited company providing development and open market sales. * Gentoo Developments Limited A private limited company with prior principal activities being open market sales. The company remains active to account for final costs. * Gentoo Genie Limited A private limited company also registered with the FCA administering home purchase plans. This company does not provide new home purchase plans and remains active to administer plans for c. 20 customers. * Genie Homeplan Limited A private limited company being a trust company holding the legal title for assets subject to Home Purchase Plans administered by Gentoo Genie Limited. To meet Group deadlines and filing requirements Group and subsidiary accounts are required to be signed prior to 27th September. This is except for Gentoo Genie which has a 27th July filing deadline to comply with FCA requirements. Annual loan covenant requirements are currently: * Six monthly Minimum Performance Level and Annual Income Test Statements for one funder due 14th April and 14th October. * Annual Statement for one funder due 27th September. This currently reports on three covenants (gearing, asset and interest cover) based on the annual audited financial statements. Gentoo Group Limited is the employing entity of c.1,000 employees. The Group operates both a Defined Benefit and Defined Contribution pension plan. Gentoo is a provider of social housing with the Regulator of Social Housing (RSH), which acts as its regulator. Its current principal activities comprise: * Ownership and management of over 29,000 units of housing stock comprising general needs, shared ownership and supported accommodation. * Development of new social housing. * An external maintenance programme. * Ownership and management of commercial and market rent properties accounted for as investment properties. The contract will be in place for a 36 month period, with the option to extend by 2 x 12 month periods, providing there is still a requirement / budget and the successful supplier is performing to a satisfactory standard. The duration will not exceed 60 months.

Options: 36 month contract with option for 2 x 12 month extensions - maximum term of contract 60 months

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-03a396
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/003749-2023
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

79 - Business services: law, marketing, consulting, recruitment, printing and security

CPV Codes

79212100 - Financial auditing services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£394,062 £100K-£500K

Notice Dates

Publication Date
7 Feb 20233 years ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
3 Feb 20233 years ago
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Cancelled
Awards Status
Active
Contracts Status
Active

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
GENTOO GROUP
Contact Name
Not specified
Contact Email
katie.spraggon@gentoogroup.com
Contact Phone
Not specified

Buyer Location

Locality
SUNDERLAND
Postcode
SR3 3XR
Post Town
Sunderland
Country
England
Major Region (ITL 1)
TLC North East (England)
Basic Region (ITL 2)
TLC4 Northumberland, Durham and Tyne & Wear
Small Region (ITL 3)
TLC44 Sunderland
Delivery Location
TLC23 Sunderland
Local Authority
Sunderland
Electoral Ward
Doxford
Westminster Constituency
Houghton and Sunderland South

Supplier Information

Number of Suppliers
1
Supplier Name

BEEVER AND STRUTHERS

Further Information

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

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