Case Study: Solicitors

Specialist SRA Accountant Goringe Accountants helps criminal law firm grow through incorporation, acquisition and expert accounting.

Albin and Co Solicitors – Specialists in Criminal, Family and Mental Health Law – was set up by Chris Albin in 2007. Albin and Co is proud of its reputation for integrity, high standards of advocacy, professionalism and expertise.

Chris had big plans for the practice, including incorporation to a limited company and acquisition. Back in 2006 Chris’s wife Sally met Nicky Goringe Larkin, Founder and Director of Goringe Accountants – who specialise as an SRA Accountant for Solicitors. At the end of 2012 Chris and Sally were discussing his hiring another accounting firm, so she suggested he get in touch with Nicky.

I liked that fact that Nicky understood our business challenges,

says Chris.

In our initial meetings she promised a hands-on approach and that’s certainly been true. As soon as we appointed Goringe Accountants, the team was incredibly responsive to our needs — and my frequent questions.

Chris’s main objective was to appoint a pro-active financial partner. As the practice is partly funded by legal aid, strict record-keeping, reporting and monthly submissions are critical.

If we miss a deadline, we lose that month’s funding, so it’s vital our accounting firm stays on top of things.

Accounts Manager, Sarah Lawrence looks after the account day-to-day (which includes supporting and liasing with AC Solicitors’ internal bookkeeper), Elliot Hobden handles payroll and Nicky is on hand for any queries and to offer business advice.

With Nicky, Sarah and Elliot working on things and overseeing our internal resource I can breathe easy and concentrate on running the business,

says Chris.

I can (and do) pick up the phone with questions on a regular basis and they always have the answer. I no longer feel alone. They’re on my side and will always find me a solution.

Sarah picks up the story:

There have been some steep learning curves for us. AC Solicitors uses Quill — a specialist accounting software for solicitors and other legal practices. I had to get up to speed with the software quickly and identify, understand and then provide guidance to the new bookkeeper on the processes and procedures required for the legal aid submissions

In addition to overseeing a tight bookkeeping ship and staying on top of legal submissions, Goringe Accountants has also achieved some substantial tax savings. Chris adds:

They save us money — and with all the processes they’re helping us to put in place, we can already see that they’re saving us time. This is all over the space of just under 11 months. I’m extremely impressed.

The Solicitors’ Regulation Authority (SRA) sets standards in the profession and requires annual audits.

Nicky comments:

We’ll be delivering the SRA audit early in 2014. Auditing is a new area for us and we’ll soon be launching a new department to service all our clients’ auditing needs.

Chris concludes:

We’ve just opened up a branch in Swindon and we plan to increase our family work. As well as making sure we’re as tax-efficient as possible, I’m hoping Goringe Accountants will help us continue to grow the business.