Accountancy firm Bishop Fleming, which opened an office in Bath last December, is celebrating growing by 28% over the past year and taking on an additional 74 staff.
The expansion confirms its title as Britain’s fastest-growing Top 50 accountants. The firm now operates out of seven offices – having added Bath and Worcester during the year – has 25 partners – up from 17 previously – and employs 295 staff.
Growth of 28% in fee income was accompanied by investment of nearly £500,000 in offices and systems. Following its acquisition out of administration of Bath-based accountants Target last December, the firm initially moved into Target’s Lower Bristol Road base. Following a city-wide search for new premises it relocated to the next door office building in May. The firm now employs more than 50 people in Bath.
Bishop Fleming managing partner Matthew Lee said: “This growth reflects our adherence to a determined business pl
an, based on our commitment to serve owner-managed businesses in the South West and West Midlands.
“A key element of our recruitment over the past year has ensured that Bishop Fleming can match any ‘big four’ global firm in having recognised specialists in audit, international tax, VAT, and business advice. Owner-managed businesses now have access to every specialism that are usually associated with global accountancy firms.”
Acquisition of the Bath and Worcester offices made a partial contribution to the firm’s increased fee income, up from £9.5m to £13.2m, but will not take full effect until next year.
An extra £1m of income arose from organic growth among existing clients and new clients won by its core offices, including more than 100 academy schools.
Bishop Fleming is now the region’s market leader for charities, not-for-profit, and academy schools, and has the region’s largest business recovery team.
“We have also built leadership teams for such sectors as hotels & tourism, healthcare, manufacturing technology & innovation, new media, and grant services,” said Mr Lee.
“While continuing our core role as advisors to this region’s full spectrum of owner-managed companies, and the individuals who own those businesses, this focus on key sectors has been a major plank in our growth.
“But the biggest boost to our growth has been the expertise we offer on tax (including international tax), VAT, corporate finance, employee share schemes, business recovery, and our specialist services, including one of the region’s leading payroll operations and a full service IFA operation,” said Mr Lee.
Bishop Fleming was named as Britain's fastest-growing Top 50 accountancy firm by Accountancy Age earlier this year. Its office network now includes Bath, Bristol, Exeter, Plymouth, Torquay, Truro and Worcester.
