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Venture Chartered Accountants

Legal

     

Name of   Firm 

Venture   House Business Service Limited trading as Venture Chartered Accountants

 

Legal   Form


Limited   Company No. 11529576

Registered   Address Venture House, Calne Road, Lyneham, Chippenham, SN15 4PP

 

Professional   Body


Venture   House Business Service Limited is registered  to carry on audit work in   the UK by the Institute of Chartered Accountants in England and Wales.    Details about our audit registration can be viewed at www.auditregister.org.uk under reference number   C006577453.

 

VAT   Number 304   4527 31

 

General   Terms and Conditions


4.0   TERMS OF BUSINESS
4.1 Professional rules and practice guidelines

4.1.1   We will observe the by-laws, regulations and ethical guidelines of the   Institute of Chartered Accountants in England and Wales and accept   instructions to act for you on the basis that we will act in accordance with   those guidelines.  In particular you give us authority to correct HM   Revenue & Customs errors.  Copies of these requirements are available   for your inspection in our offices.  We confirm that we are Registered   Auditors eligible to conduct audits under the Companies Act 1989.

4.1.2   We confirm that we will carry out all work with reference to Audit Practices   Board Ethical Standards and that these matters have been addressed in   preparing this engagement letter.

4.2   Commissions or other benefits

4.2.1   In some circumstances, commissions or other benefits may become payable to us   in respect of introductions to other professionals or transactions we arrange   for you, in which case you will be notified in writing of the amount, the   terms of payment and receipt of any such commissions or benefits.  The   fees that would otherwise be payable by you as described above will not be   abated by such amounts.  You consent to such commission or other   benefits being retained by us without our being liable to account to you for   any such amounts.

4.3   Retention of records

4.3.1   During the course of our work we will collect information from you and others   acting on your behalf and will return any original documents to you following   preparation and audit of your accounts and tax return.  You should   retain company records for 6 years following the end of the accounting year   (and directors’ personal tax records for 6 years from the 31 January   following the end of the tax year. This period can be extended if HM Revenue   & Customs enquire into your tax return.

4.3.2   Whilst certain documents may legally belong to you, unless you tell us not   to, we intend to destroy correspondence and other papers that we store which   are more than seven years old, other than documents which we think may be of   continuing significance.  You must tell us if you require retention of   any document.

4.4   Conflicts of interest and independence

4.4.1   You agree that we may reserve the right to act during this engagement for   other clients whose interests are or may be adverse to yours, subject to 4.5   below.  We confirm that we will notify you immediately should we become   aware of any conflict of interest to which we are subject in relation to the   company.

4.5   Confidentiality

4.5.1   We confirm that where you give us confidential information we shall at all   times keep it confidential, except as required by law or as provided for in   regulatory, ethical or other professional pronouncements applicable to our  engagement.

  1. You agree that it will be  sufficient compliance with our duty of confidence for us to take such  steps as we in good faith think fit to preserve confidential information   both during and after termination of this engagement.

4.6   Data Protection Act 1998

4.6.1   To enable to discharge the services agreed under this engagement, and for   other related purposes including updating and enhancing client records,   analysis for management purposes and statutory returns, crime prevention and   legal and regulatory compliance, we may obtain, use, process and disclose   personal data about [you] [the] [business] [company,] [partnership] [its   officers] [and employees].  You have a right of access, under the data   protection legislation, to the personal data that we hold about you.    For the purposes of the Data Protection Act 1998, the Data Controller   in relation to personal data supplied about you is Christopher Baylis.

4.7   Quality control

4.7.1   As part of our ongoing commitment to providing a quality service, our files   are periodically subject to an independent regulatory or quality control   review.  Our reviewers are highly experienced and professional people   and, of course, are bound by the same requirements for confidentiality as our   partners and staff.

4.7.2   We confirm that we will carry out all work with reference to Audit Practices   Board Ethical Standards and that these matters have been addressed in   preparing this engagement letter.

4.8   Help us give you the best service

4.8.1   We wish to provide a high quality of service at all times.  If at any   time you would like to discuss with us how our service could be improved or   if you are dissatisfied with the service you are receiving please let us know   by contacting the director handling your affairs.

4.8.2   We undertake to look into any complaint carefully and promptly and to do all   we can to explain the position to you.  If we have given you a less than   satisfactory service we undertake to do everything reasonable to put it   right.  If you are still not satisfied you may of course refer the   matter to our Institute.

4.9   Contracts (Rights of Third Parties) Act 1999

4.9.1 A   person who is not a party to this Agreement shall have no right under the   Contracts (Rights of Third Parties) Act 1999 to enforce any term of this   Agreement.  This clause does not affect any right or remedy of any   person, which exists or is available otherwise than pursuant to that Act.

  1. The advice, which we give  you, is for your sole use and does not constitute advice to any third   party to whom you may communicate it.  We accept no responsibility  to third parties for any aspect of our professional services or work        that is made available to them.

4.10   Limitation of liability

4.10.1   We will provide our professional services outlined in this letter with   reasonable care and skill.  However, we will not be responsible for any   losses, penalties, surcharges, interest or additional tax liabilities arising   from the supply by you or others of incorrect or incomplete information, or   your or others’ failure to supply any appropriate information or your failure   to act on our advice or respond promptly to communications from us or the tax   authorities.

  1. You agree to hold harmless  and indemnify us, our directors and staff, against any misrepresentation (intentional or unintentional) supplied to us orally or in writing in  connection with this agreement.

4.11   Fees

4.11.1   When not working to a fixed fee, our fees are computed on the basis of the   time spent on your affairs by the principals and staff and on the levels of   skill and responsibility involved. Our fees will be billed monthly and will   be due on presentation.

4.11.2   If it is necessary to carry out work outside the responsibilities outlined in   this letter we will advise you in advance.  This will involve additional   fees.  Accordingly we would like to point out that it is in your   interest to ensure that your records etc., are completed to the agreed stage.

  1. We reserve the right to  charge interest at the rate for the time being applicable under the Late  Payment of Commercial Debts (Interest) Act 1998 in the case of overdue  accounts.  We also reserve the right to terminate our engagement        and cease acting if payment of any fees billed is unduly delayed.  However, it is not our intention to use these rights in a way  which is unfair or unreasonable.  

4.12   Applicable law

4.12.1   This engagement letter shall be governed by, and construed in accordance   with, English law.  The Courts of England shall have exclusive   jurisdiction in relation to any claim, dispute or difference concerning the   engagement letter and any matter arising from it.  Each party   irrevocably waives any right it may have to object to any action being   brought in those courts, to claim that the action has been brought in any   inconvenient forum, or to claim that those Courts do not have jurisdiction.

4.13   Communicating with you

4.13.1   We will communicate with the directors in relation to the company’s auditing,   accounting and tax affairs having agreed with you that they will represent  the company.

  1. E-mail may be used to  enable us to communicate with you.  As with other means of delivery  this carries with it the risk of inadvertent misdirection or        non-delivery.  It is the responsibility of the recipient to carry out a virus check on attachments received.
  2. Internet communications  are capable of data corruption, we do not accept any responsibility for  changes made to such communications after their despatch.  It may  therefore be inappropriate to rely on advice contained in an e-mail   without obtaining written confirmation of it.  We do not accept  responsibility for any errors or problems that may arise through the use  of internet communication and all risks connected with sending  commercially sensitive information relating to the company are borne by  you.  If you do not accept this risk, you should notify us in  writing that e-mail is not an acceptable means of communication.

4.14   Money Laundering

4.14.1   In common with all accountancy and legal practices the firm is required by   the Proceeds of Crime Act 2003 and the Money Laundering Regulations 2003 to:

  1. Maintain identification  procedures for all new clients;
  2. Maintain records of  identification evidence;
  3. Report, in accordance with  the relevant legislation and regulations.

4.15 Investment  advice

  1. If during the provision of  professional services to you, you need advice on investments, we may  have to refer you to someone who is authorised by the Financial Services  Authority, as we are not. However, as we are licensed by the Institute of Chartered Accountants in England and Wales, we may be able to provide  certain investment services that are complementary to, or arise out of,        the professional services we are providing to you. In the unlikely event that we cannot meet our liabilities to you, you may be able to claim  compensation under the Chartered Accountants’ Compensation Scheme in respect of exempt regulated activities undertaken.
  2. This firm is not   authorised by the Financial Services Authority. However, we are included   on the register maintained by the Financial Services Authority so that        we can carry on insurance mediation activity, which is broadly the advising on, selling and administration of insurance contracts. This part of our business, including arrangements for complaints or redress  if something goes wrong, is regulated by The Institute of Chartered   Accountants in England and Wales. The register can be accessed via the  Financial Services Authority website at www.fsa.gov.uk/register, under “EPF search”.

 

Professional   Liability Insurance


In   accordance with the disclosure requirements of the Provision of Services   Regulations 2009, our professional indemnity insurers are Maven   of 

The AON   Centre, The Leadenhall Building, 122 Leadenhall Street, London, EC3V 4AN

The   territorial coverage is worldwide excluding professional business carried out   from an office in the United States of America or Canada and excludes any   action for a claim brought in any court in the United States of America or   Canada

 

Other   Activities undertaken and conflicts on interest


If a   conflict of interest should arise, either between two or more of our clients,   or in the provision of multiple services to a single client, we will take   such steps as are necessary to deal with the conflict. In resolving the   conflict, we would be guided by the Code of Ethics of The Institute of   Chartered Accountants in England and Wales which can be viewed at   www.icaew.com/regulations/ethics, Code of Ethics section 220

 

Applicable   professional rules


For   audit work, this is the Audit Regulations and Guidance which can be found at   www.icaew.com/auditnews. There are also the International Standards on   Auditing (UK and Ireland) at www.frc.org.uk/apb/publications/isa.cfm.

For all   members this would be the Institute’s Code of Ethics which can be found at   www.icaew.com/regulations.

For   auditors there are also the APB Ethical Standards at   www.frc.org.uk/apb/publications/ethical.cfm.



Copyright © 2022 Venture Chartered Accountants - All Rights Reserved.  Venture House Business Service Limited trading as Venture Chartered Accountants .  Limited Company No. 11529576  Registered Address Venture House, Calne Road, Lyneham, Chippenham, Wiltshire, SN15 4PP 

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