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Outsourced Finance Director Managed Service (LSHW.002.2025)

Life Sciences Hub Wales Ltd

This public procurement record has 8 releases in its history.

TenderCancellation

15 Jul 2025 at 15:39

UK12 - Procurement Termination Notice
TenderUpdate

03 Jul 2025 at 14:21

UK4 - Tender Notice
TenderUpdate

30 Jun 2025 at 15:10

UK4 - Tender Notice
TenderUpdate

30 Jun 2025 at 14:45

UK4 - Tender Notice
TenderUpdate

26 Jun 2025 at 14:54

UK4 - Tender Notice
TenderUpdate

25 Jun 2025 at 10:14

UK4 - Tender Notice
TenderUpdate

24 Jun 2025 at 11:35

UK4 - Tender Notice
Tender

20 Jun 2025 at 15:55

UK4 - Tender Notice
Summary of the contracting process

Life Sciences Hub Wales Ltd, located in Cardiff, had initiated a procurement process for an Outsourced Finance Director Managed Service under the title "Outsourced Finance Director Managed Service (LSHW.002.2025)." This process was categorised under services in the finance sector, specifically focusing on corporate finance, accounting, and financial consultancy. The public authority was operating under Welsh devolved regulations and sought a qualified service to replace its outgoing Director of Finance and Resources. The tender was at the 'completed' stage as of 15th July 2025, following its cancellation due to insufficient competitive and compliant responses to ensure value for money.

This procurement presented a valuable opportunity for businesses specialising in interim finance management, particularly those adept at offering high-level financial consultancy, financial transaction processing, and corporate finance services. Businesses eligible to participate were expected to have staff qualified to ACA, ACCA, or an equivalent standard, and hold certifications such as Cyber Essentials Plus or ISO27001. The service was intended to be engaged for a contract period starting 14th July 2025, with a potential extension, accommodating small and medium enterprises (SMEs) and voluntary community and social enterprises (VCSEs). Companies with a solid background in the compliance landscape, data protection, and UK GDPR processes would have been well-suited to compete for this opportunity, offering a platform for business growth through collaboration with a key public sector client.

How relevant is this notice?

Notice Information

Notice Title

Outsourced Finance Director Managed Service (LSHW.002.2025)

Notice Description

Life Sciences Hub Wales seeks the provision of a suitably qualified, capable and experienced Outsourced Finance Director Managed Service to act as interim replacement for its outgoing Director of Finance and Resources. The current Finance team at Life Sciences Hub Wales, sans the Director of Finance and Resources, is comprised of a part-time Finance Manager (0.6FTE, reporting to the Director of Finance and Resources) and an outsourced bookkeeper (circa 7 hours per week, reporting to the Finance Manager). The Director of Finance and Resources is a member of the Life Sciences Hub Wales Senior Leadership Team, reporting directly to the CEO; the Outsourced Finance Director Managed Service representative(s) would also report directly to the CEO. It is envisioned that 3-4 days per calendar month of Outsourced Finance Director Managed Service provision would satisfy the requirement of the service. The required Outsourced Finance Director Managed Service provider would act as a replacement to the current Director of Finance and Resources, addressing and successfully completing the key financial and accounting activities currently undertaken within the role. Full details of the requirement are provided in the Invitation to Tender document uploaded to Sell2Wales.

Lot Information

Lot 1

Renewal: At the sole discretion of Life Sciences Hub Wales the contract may be extended by a further 6-months, giving a latest possible date of expiry of 31st July 2026.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-055126
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/040117-2025
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
UK12 - Procurement Termination Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Below threshold - open competition
Tender Suitability
SME, VCSE
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

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

CPV Codes

66122000 - Corporate finance and venture capital services

66170000 - Financial consultancy, financial transaction processing and clearing-house services

79200000 - Accounting, auditing and fiscal services

Notice Value(s)

Tender Value
£48,000 Under £100K
Lots Value
£48,000 Under £100K
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
15 Jul 20251 years ago
Submission Deadline
4 Jul 2025Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
14 Jul 2025 - 31 Jan 2026 6-12 months
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Complete
Awards Status
Cancelled
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
Life Sciences Hub Wales Ltd
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
CARDIFF
Postcode
CF10 4PL
Postcode Area
Cardiff
Country
Wales
Major Region (ITL 1)
TLL Wales
Basic Region (ITL 2)
TLL5 South East Wales
Small Region (ITL 3)
TLL52 Cardiff and Vale of Glamorgan
Delivery Location
TLL22 Cardiff and Vale of Glamorgan
Local Authority
Cardiff
Electoral Ward
Butetown
Westminster Constituency
Cardiff South and Penarth

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

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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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