Today’s news in brief – 24/3/2025
Simmons Gainsford has appointed former PwC senior audit partner Andrew Hill to its audit team. Hill brings over 36 years of experience in financial services, retail businesses, and auditing. His expertise in IFRS, FRS 102, and controls assessments will enhance the firm’s London-based audit practice. Simmons Gainsford, founded in 1948, operates offices in Central London, East Sussex, and Gibraltar. Hill expressed enthusiasm for the firm’s growth plans under the Sumer Group, highlighting his interest in supporting SMEs and entrepreneurial businesses. He praised the firm’s client-focused approach and the welcoming culture experienced during his interview process.
The Financial Reporting Council (FRC) has moved its London office from Moorgate to Harbour Exchange in Canary Wharf. This follows the opening of its Birmingham office, which now hosts 10% of its workforce. The relocation aligns with the FRC’s recently published three-year strategy, aiming to enhance audit firm supervision and support smaller firms through its Scalebox initiative. Additionally, the FRC will focus on improving SME audit market functionality. Stakeholders are advised to update their records with the new address. The council emphasized its commitment to maintaining uninterrupted services during the transition.
Hazlewoods Corporate Finance has supported Kids Planet in acquiring Perfect Start Day Nurseries, comprising eight nurseries across Surrey, West Sussex, and Kent. Founded in 2008, Kids Planet now operates over 230 sites, continuing its mission of providing high-quality early years education. Hazlewoods provided financial and tax due diligence, along with acquisition advisory services. Kids Planet CFO Colin Anderton praised Hazlewoods for its responsive support and strategic insights. Hazlewoods director Rob Burns commended the collaboration and highlighted the acquisition’s potential to expand Kids Planet’s presence in Southeast England.
Allica Bank has doubled its accountancy partnerships team to 16 members within a year, responding to increasing demand from accountants seeking business advice. A survey by Allica found that 36% of accountants are asked for business advice daily, with over half believing their clients lack sufficient banking support. Only 3% felt clients received adequate assistance from their banks. The expanded partnership aims to bridge this gap, offering tailored financial support to SMEs. Allica Bank head of partnerships Sophie Hossack emphasized the team’s dedication to empowering accountants and businesses, citing the bank’s lending of over £3bn in 2024.
