Published date: 17 April 2018

Awarded contract - This means that the contract has been awarded to a supplier.


Closing: 5 April 2018

Contract summary

Industry

  • Insurance and pension services - 66500000

Location of contract

London

Value of contract

£20,000

Procurement reference

PS18091

Published date

17 April 2018

Closing date

5 April 2018

Contract start date

17 April 2018

Contract end date

25 May 2018

Contract type

Service contract

Procedure type

Other: ITQ

Contract is suitable for SMEs?

Yes

Contract is suitable for VCSEs?

No

Description

CLOSING TIME FOR BIDS IS 05/04/2018 14:00 HOURS. DO NOT APPLY DIRECTLY TO THE BUYER. To express your interest in this opportunity email ExpressionOfInterest@crowncommercial.gov.uk.
In accordance with International Financial Reporting Standards (IFRS) as adapted and interpreted by the HM Treasury Financial Reporting Manual (FReM) , BEIS prepares consolidated annual financial statements. During this process, BEIS collects financial and non-financial information that is subject to judgements, estimates and assumptions, which in some cases, are based upon professional's valuation and/or assessment. Defined benefit pension schemes are such an area as they require an actuarial valuation to prepare pension accounting disclosures in accordance with IFRS standard IAS 19 Employee Benefits.
•Objectives:
Accounting for pension costs - IAS 19 disclosures for:
•17/18 IAS 19 disclosures, including movements in the Statement of Comprehensive Net Expenditure, year-end position in the Statement of Financial Position and other disclosures required under the standard
•16/17 IAS 19 disclosures as above (as comparatives in the 2017-18 accounts)
•1 April 16 Statement of Financial Position value (as the opening for assets and liabilities for 2017-18 accounts)
Scope:
In preparing the disclosures, the steps below will be expected to be carried out by the actuary:
•Provide terms of reference document which describes the scope of work to be performed by the firm
•Collection of the data necessary for the calculations from the scheme administrator and fund managers
•Advice on the assumptions appropriate to the DSRL section's circumstances and market conditions at the 31 Mar 2018 and earlier years, including brief discussions with BEIS and its auditors.
•Provision of the financial disclosures required for the BEIS departmental accounts under IAS 19 for the years ended 31 March 17.
•Calculation of the Statement of Comprehensive Income and Expense charge for the FY17/18 and FY16/17, and the Statement of Financial Position pension balances as at 31 Mar 2018, 31 Mar 2017 and 1 April 2016 under IAS 19.
•Provision of the financial disclosures required for the BEIS departmental accounts
•Preparation of a formal report, including the disclosures and supporting descriptions for BEIS and its auditors, liaising with the auditors to answer their queries and helping understand the figures.
•The IAS 19 report needs to be competed and delivered to the department for its accounts as at 31 March 2018 by 18th May 2018.

Terms and Conditions
Bidders are to note that any requested modifications to the Contracting Authority Terms and Conditions on the grounds of statutory and legal matters only, shall be raised as a formal clarification during the permitted clarification period.

More information

Previous notice about this procurement

Accounting for pension costs - IAS 19 disclosures

  • Opportunity
  • Published 26 March 2018

Attachments

Additional text

As part of the strategic alliance between UK Shared Business Services Ltd (UK SBS) and Crown Commercial Service (CCS), UK SBS can use the CCS eSourcing Suite for future procurements.

If you have not yet registered on the eSourcing Suite, this can be done online at https://gpsesourcing.cabinetoffice.gov.uk by following the link 'Register for CCS eSourcing'. Please note that, to register, you must have a valid DUNS number (as provided by Dun and Bradstreet) for the organisation which you are registering, who will be entering into a contract if invited to do so.
Once you have registered on the eSourcing Suite, a registered user can express an interest for a specific procurement. This is done by emailing expressionofinterest@crowncommercial.gov.uk. Your email must clearly state: the name and reference for the procurement you wish to register for; the name of the registered Bidder; and the name and contact details for the registered individual sending the email. Crown Commercial Service will process the email and then enable the Bidder to access the procurement online via the e-Sourcing Suite. The registered user will receive a notification email to alert them once this has been done. The Sourcing documents can then be accessed on the eSourcing Suite at: https://gpsesourcing.cabinetoffice.gov.uk using the instructions detailed in the specification documents within Contracts Finder. As a user of the e-Sourcing Suite you will have access to Emptoris email messaging service which facilitates all messages sent to you and from you in relation to any specific RFX event. Please note it is your responsibility to access these emails on a regular basis to ensure you have sight of all relevant information. For technical assistance on use of the e-Sourcing Suite please contact Crown Commercial Service Helpdesk : Telephone: 0345 010 3503 Training documents to support Bidders utilise Emptoris CCS eSourcing are available in the Contracts Finder Tender documents section.

Award information

Awarded date

11 April 2018

Contract start date

12 April 2018

Contract end date

25 May 2018

Total value of contract

£10,365

This contract was awarded to 1 supplier.

BARNETT WADDINGHAM LLP

Address

Cheapside House
EC2V 6BW
GB

Reference

Companies House number: 0

Value of contract

£10,365

Supplier is SME?

No

Supplier is VCSE?

No

About the buyer

Address

Polaris House, North Star Avenue
SWINDON
SN21FF
England

Email

professionalservices@uksbs.co.uk