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Preparation of Financial Forecasts

Our Legal Sector specialists will prepare your bespoke fianancial forecast using our own detailed forecasting model based upon utilisation and recovery levels of specific fee earners at specific times of the year; and debtor days and WIP days of departments.

This allows a more scientific approach to be taken in determining fee income and cash collection levels. It also allows an assessment of recoverable WIP to be made on a monthly basis, something that law firms should be monitoring and the banks are certainly interested in.

We prepare financial forecasts to help law firms with:

  • Raising finance
  • Setting targets and improving performance
  • Business planning and control
  • Lexcel
  • Submission to the SRA with applications to convert to a limited company or LLP or ABS.
Contact our Legal Sector Partner, Andy Poole, on 07828 857830 or andy.poole@armstrongwatson.co.uk to discuss how we can help you.

  Read more about the benefits of appointing Armstrong Watson

 

What is it?

Fully integrated three year cash flow, profit and loss and balance sheet forecasts together with a detailed assumptions document explaining the reasoning behind the figures.

Who is it for?

This service will benefit all law firms of any size in all locations.

What are the benefits for your firm?

  1. You will be forewarned and forearmed
  2. You will be able to scenario plan
  3. You will be able to make appropriate strategic decisions
  4. You will increase your opportunity to achieve your targets

What do I have to do?

You will need to provide information requested by us. Pre-agreed partners and staff will need to attend meetings and interviews.

What are the deliverables?

Presentation of draft forecast. Issue of final financial forecast.

What is the cost?

Two weeks

Our experience

Armstrong Watson prepares a vast number of financial forecasts for clients for a variety of reasons.

Your Key Contacts

Andy Poole

Corporate Finance Partner - Legal Sector

07828 857830

Email Andy

Douglas Russell

Partner

Email Douglas

Sally Jones

Accounting Director

Email Sally

Huw Nicholls

Audit & Assurance Director

07917 035854

Email Huw

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Armstrong Watson LLP is a limited liability partnership registered in England and Wales, number OC415608. The registered office is James Watson House, Montgomery Way, Rosehill, Carlisle, CA1 2UU where a list of members is kept. Armstrong Watson LLP is regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities. Unless otherwise indicated, either expressly or by the context, we use the word “partner” to describe a member of Armstrong Watson LLP or an employee of Armstrong Watson LLP in their capacity as such.

Armstrong Watson Audit Limited is registered to carry out audit work in the UK by the Institute of Chartered Accountants in England and Wales. Registered as a limited company in England and Wales, number 8800970. The registered office is James Watson House, Montgomery Way, Rosehill, Carlisle, CA1 2UU. Armstrong Watson Audit is a trading style of Armstrong Watson Audit Limited.

Armstrong Watson Financial Planning Limited is authorised and regulated by the Financial Conduct Authority. Firm reference number 542122. Registered as a limited company in England and Wales, number 7208672. The registered office is James Watson House, Montgomery Way, Rosehill, Carlisle, CA1 2UU. Armstrong Watson Financial Planning & Wealth Management is a trading style of Armstrong Watson Financial Planning Limited. Armstrong Watson Trustees Limited is a limited company registered in England and Wales, number 84495656. The registered office is James Watson House, Montgomery Way, Rosehill, Carlisle, CA1 2UU.

MyRetirement is a trading style of Armstrong Watson Financial Planning Limited.

Armstrong Watson is a trading style of Armstrong Watson LLP, Armstrong Watson Audit Limited and Armstrong Watson Financial Planning Limited.