Public sector wind-downs

Winding down a public sector organisation is a complex process. For those within the organisation, the responsibilities and practicalities involved are likely to be new and challenging.

That’s why working with professionals who understand the issues involved, and will provide expert advice and practical support, is essential. As a leading South West firm of chartered accountants, Milsted Langdon is experienced in working with public bodies and has particular expertise in the sensitive area of change management.

Our work in this specialist area includes assisting Somerset Training and Enterprise Council in the lead up to its liquidation, acting as liquidator and advising on its absorption into the now-defunct Learning and Skills Council.

 We can also assist in the specialist field of transferring work and responsibilities from an organisation being wound down to a successor body.

We offer expert, objective accountancy, tax and commercial advice and services and will work with the organisation and other professional advisers to develop a comprehensive wind-down strategy designed to streamline the process and bring it to a timely and cost-effective conclusion.

Communication is key at what is likely to be a difficult time and we make it our priority to always be accessible to offer guidance on the process. Our services include:

• calculating and paying redundancy costs and other liabilities arising on cessation, including those resulting from the application of TUPE Regulations on the transfer of staff from predecessor organisations on secondment or otherwise
• the appropriate use of golden handcuffs to retain key staff during a structured wind down
• cash flow forecasts and funding requirements
• negotiations with landlords
• asset inventories and valuations
• disposal of assets
• liabilities arising on the cancellation of contracts with suppliers
• distribution of surplus funds
• retention of business and financial records.

To find out how we can help you, please contact us.