---
title: "Audit and Tax Advisory Services for The North East Fund"
ocid: "ocds-b5fd17-a2c5c0fa-3712-4dfc-962b-8241ab3f813c"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-a2c5c0fa-3712-4dfc-962b-8241ab3f813c"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-a2c5c0fa-3712-4dfc-962b-8241ab3f813c.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-a2c5c0fa-3712-4dfc-962b-8241ab3f813c.json"
source: "Contracts Finder"
current_stage: "Award"
buyer: "THE NORTH EAST FUND LIMITED"
published: "2021-03-05"
---

# Audit and Tax Advisory Services for The North East Fund

Buyer: THE NORTH EAST FUND LIMITED  
Current stage: Award  
OCID: ocds-b5fd17-a2c5c0fa-3712-4dfc-962b-8241ab3f813c

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## Summary

The North East Fund Limited, located in Newcastle upon Tyne, is currently in the award stage of the procurement process for Audit and Tax Advisory Services. This contract is for an initial period of four years, commencing on 8th February 2021 and potentially extending until 7th February 2025. The procurement method employed is an open procedure. The contract entails auditing the accounts for the financial years ending 31st March 2021, as well as providing corporation tax and other tax advisory services. The deadline for tender submissions was at noon on 20th January 2021.

This tender presents significant opportunities for accountancy and audit firms, particularly those registered with the Financial Reporting Council (FRC). As the North East Fund focuses on supporting SMEs in the region, firms with expertise in venture capital, tax advisory, and auditing services will find this contract particularly relevant. The successful firm will enhance its portfolio and potentially secure a stable revenue stream over the four-year duration, along with the possibility of annual re-appointments based on performance.

## Notice

The North East Fund is inviting firms to tender to act as its auditor and to provide tax advice and support. The contract will be for an initial period of four years (subject to annual re-appointment by the company), beginning in February 2021 and will require the successful tenderer to audit the accounts of the company for the financial year ending 31 March 2021 and to audit the three subsequent years' accounts and provide corporation tax and potentially other tax and advisory services. The North East Fund is the holding fund manager for a venture capital and loan programme which invests in SMEs based in the North East of England. It is the principal investor and a limited partner in five funds which are set up as limited partnerships and which are managed by independent, FCA authorised fund management companies: Maven Capital Partners; Mercia Asset Management; NEL Fund Managers and Northstar Ventures. The North East Fund began operating in March 2018 and to date its sub-funds have invested c.PS50m in 265 companies and are expected to invest a further PS70m in c.300 more companies in the period to March 2023 - with the potential to continue investing until 2025. The realisation phase of the five sub-funds will continue at least until 2028, with the potential to be extended to 2032 - to allow time for the loans and investments made to be repaid and realised. Further information regarding the size and structure of TNEFL and its sub-funds is set out in the Invitation to Tender document. TNEFL has decided not to re-appoint its current auditor and so is inviting FRC registered audit practice firms to tender to act as its auditor and also to provide tax advice and support, including preparation and submission of annual corporation tax computation and return. The successful firm will be required to complete the audit for TNEFL's current financial year (ending 31 March 2021) which, due to obligations in the company's funding agreements, must be completed at the latest by mid-September 2021. The appointment as auditor will take effect from completion of the tender process in January / February 2021 and will be for a period of four years, subject to annual re-appointment. The closing date for tender submissions is 12 noon on Wednesday 20th January 2021. The Invitation to Tender document includes details of: what to include in your tender; how to submit it and how to ask any questions you may have regarding the process.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Contracts Finder |
| Latest notice | https://www.contractsfinder.service.gov.uk/Notice/c4b18ac6-95e2-4075-a58d-3a6a281014c3 |
| Notice type | Award Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Open |
| Procurement method details | Open procedure (below threshold) |
| Tender suitability | SME |
| Awardee scale | SME |
| All stages | Tender, Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 5 Mar 2021 |
| Submission deadline | 20 Jan 2021 |
| Future notice date | Not specified |
| Award date | 27 Jan 2021 |
| Contract period | 8 Feb 2021 - 7 Feb 2025 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £1 |
| Lots value | Not specified |
| Awards value | £44,400 |
| Contracts value | Not specified |

## Status

| Field | Value |
| --- | --- |
| Tender status | Complete |
| Lots status | Not specified |
| Awards status | Active |
| Contracts status | Not specified |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | THE NORTH EAST FUND LIMITED |
| Locality | NEWCASTLE UPON TYNE |
| Post town | Newcastle upon Tyne |
| Postcode | NE1 6PA |
| Country | England |
| ITL 1 | TLC North East (England) |
| ITL 2 | TLC4 Northumberland, Durham and Tyne & Wear |
| ITL 3 | TLC43 Tyneside |
| Local authority | Newcastle upon Tyne |
| Electoral ward | Monument |
| Westminster constituency | Newcastle upon Tyne Central and West |
| Delivery location | Not specified |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | ARMSTRONG WATSON |

## CPV Codes

### Divisions

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

### Codes

- 79200000 - Accounting, auditing and fiscal services

## Release History

- 5 Mar 2021 at 15:01 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/c4b18ac6-95e2-4075-a58d-3a6a281014c3
- 22 Dec 2020 at 16:54 - Tender - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/f15c567e-09da-410d-baf9-6616113b4f50

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/c4b18ac6-95e2-4075-a58d-3a6a281014c3
  5th March 2021 - Awarded contract notice on Contracts Finder
- https://www.contractsfinder.service.gov.uk/Notice/f15c567e-09da-410d-baf9-6616113b4f50
  22nd December 2020 - Opportunity notice on Contracts Finder
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/32ccb040-03e4-4b0b-8640-6b35f5d03cd9

## Notice URLs

- https://www.northeastfund.org/contract-opportunity-audit-tax-services/

## Provenance

This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-b5fd17-a2c5c0fa-3712-4dfc-962b-8241ab3f813c. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-a2c5c0fa-3712-4dfc-962b-8241ab3f813c.json.