FOREIGN SUBSIDIARIES - CASE STUDIES
BREVIDEX UK -OFFICE FURNITURE UK SUBSIDIARY
Background
Brevidex is in the wholesale furniture business and has been a Frenger client for around six years
Frenger's role
The company completely out-sourced their UK financial and administrative function to Frenger.
We were invited to create a subsidiary of this French company in the UK and also source a warehouse.
• Our premises acted as the registered office of the client.
• The finance and admin role includes:
• payment of suppliers
• payment of salaries
• PAYE
• sales invoice processing
• banking receipts
• credit control
• book-keeping and preparation of monthly profit and loss account.
• the accounts were produced in French and sent to the French head office for consolidation by the parent company. Frenger liaised with UK auditors and also handled VAT.
• As the company developed, the client decided to carry out its own data processing in its own offices. Frenger trained the staff on behalf of the client..
Conclusion
Growth of the client company has been fairly modest and there is currently no intention to administer the UK subsidiary in any different way.
Should business grow, then Frenger will be able to provide more sophisticated services in the area of financial analysis and reporting and any additional
physical presence with third parties that may be required.
TOP
BACK
