accountanct firm ranking
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8/6/2019 Accountanct Firm Ranking
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THE LAST YEAR HAS BEEN EVEN TOUGHER ON THE NATIONS LEADING ACCOUNTANTS, DESPITE THE ECONOMY
EMERGING FROM RECESSION, WRITESPAUL GRANT
ACCOUNTANCYAGE.COM/FEATURES
If you thought that 2009 had been a toughyear for the UKs top accounting firms, itsgot nothing on 2010.
The picture emerging from the 2010Accountancy AgeTop 50 + 50 survey is thatthe going has become even harder over thelast 12 months, despite the UK economyemerging from recession.
Turnover for the largest 50 firms grew just 3%over the past year, and the situation
was even worse for the next 50practices in our survey (see page16). But even this nominal growthfigure fails to tell the whole story ofwhat has been an incredibly diffi-cult time for almost all firms.
Of the 29 firms that managed toregister any rise in turnover this year,only seven posted double-digitpercentage growth on the last twelvemonths. More worryingly, two firms sawrevenues stagnate while 17 experiencedfalls double the the number of firms thatregistered negative growth in 2009.
Among the Big Four the situation wasno better. Last years combined turnoverof 7.16bn was surpassed by just 1%,growing to 7.23bn, largely down to astrong performance by Ernst & Young. Thesmallest of the Big Four grew fee income bynearly 8% to 1.38bn.
By comparison, the countrys secondlargest firm, Deloitte, saw revenues slip backbelow the magic 2bn mark, down 2% to1.97bn, following big drops in its take fromtax and corporate finance services. The fallhas given leading firm PwC some breathingspace at the top of the table, much needed asPwC could only manage growth of 0.2% to2.25bn. KPMG could soon see E&Y snapping atits heels after dropping 1.6% to 1.63bn.
There were some positive stories to emerge from the Top 50.RSM Tenon, following the acquisition of Bentley Jennison, over-
took Baker Tilly and Smith & Williamson to place 7th in our table.Figures provided by the firm show a huge 49% growth in turnoverto 225m, although this is 6.5% lower than the combined totals ofthe two businesses from last years survey.
Moore Stephens in 11th position also saw strong growth, up10% to 139m. Impressive upswings in tax and audit morethan made up for some big falls in consultancy and corporatefinance fees.
Insolvency specialists Begbies Traynor (14th) also thrived as the
number of administrations skyrocketed over the last year, growinturnover by 13% to 70m. Reeves + Neylan also performadmirably, jumping five places in the table to 40th on 14.5growth and revenues of 14.8m.
Undoubtedly one of the biggest success stories from this yeaTop 50 is the continued rapid rise of London-based Frank HirtJust two years ago, the listed accounting company languished
number 56 in our table. Having broken inthe Top 50 last year following 12% growthhas now jumped again to 39th with a
impressive income rise of 31% to 15.6mThe firm has continued to capitalise oserving US financial services expats noworking in the City
There have also been some neentrants into the Top 50. After sever years of knocking on the door, S Accountancy has finally made it inthe big league, registering revenuof 12m, 9% up on last year. Turaround specialists MCR and tadvisers TaxAssist Accountants anew participants and have enterthe table at 27th and 34th respetively. Both posted strong doubldigit growth in their first appearanin the table. Others have hadmuch tougher time.
Haslers just managed to cling oto its Top 50 status. Last year, tfirm placed 38th in the table, bcould only manage 49th this yefollowing a 19% drop in revento 11.9m. Large falls in incomfrom tax and corporate finanwere to blame, while audit alsuffered.
Baker Tilly (8th) also suffered dropsthe same service lines, with revenues overall down 7%
190m, while Armstrong Watson (31st) saw falls of 8.5% to 17.3Across the service lines, the story was all too predictable. Fro
the figures provided by the firms, both consultancy and corporafinance saw overall drops down on average 0.6% and 6.8% respe
tively. Insolvency, unsurprisingly, saw an average boost of 6.7while audit held up well (3.8%) and tax was largely stagnant (0.4%
There is still hope among the firms, however. Most believe credfacilities have not worsened over the last year, few expect therebe a double-dip recession, and more than half expect partnershprofits to improve next year. Next weeks Budget could easchange those views, but for now the firms are cautiously optimistabout the future.
17 JUNE 20
TOP 50 + 50 : 1
TOP 50
TOP OF THE PILE
TURN OVER FOR THE TOP 50 TABLE. +50 ON PAGE
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8/6/2019 Accountanct Firm Ranking
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ACCOUNTANCYAGE.COM/FEATURES
TOP 50 +
ACCOUNTANCYAGE.COM/FEATURESUNE 2010
4 :
PwC
Deloitte
KPMG ()
Ernst & Young
Grant Thornton UK ()
BDO
RSM Tenon Group ( #)
Baker Tilly
Smith & Williamson
PKF (UK)
Moore Stephens UK
Mazars ()
Vantis
Begbies Traynor ()
Haines Watts Group
Saffery Champness ( )
Horwath Clark WhitehillUHY Hacker Young Group
Kingston Smith
MacIntyre Hudson
Chantrey Vellacott DFK ()
Wilkins Kennedy
Menzies
Johnston Carmichael ()
Rawlinson & Hunter (*)
HW Fisher & Company
MCR ()
Buzzacott
DTE Group (*)
Littlejohn
Armstrong Watson
Francis Clark
Streets
TaxAssist Accountants
Duncan & Toplis
Price Bailey
haysmacintyre
Frank Hirth ()
Cooper Parry
Reeves + Neylan
Hazlewoods
Larking Gowen
Shipleys
Lovewell BlakeTarget Chartered Accountants
Scott-Moncrieff
Mercer & Hole
SJD Accountancy
Haslers
Anderson Anderson & Brown
come figure estimated by Accountancy Age. Figures provided are an estimate by the firm. Consultancy figures are the overall figures for Advisory practice. # Turnover based on analyst expectation for the year ending 30.06.10, adjusted for 12 months effect of RSMBJ acquisition. Figures include the Guernsey office but not the Geneva office.
ANK 2010 (2009)
UK FEEINCOME
(m)%
CHANGEOPERATINGPROFIT (m)
%CHANG E YEAR END
UKOFFICES
NO. OFPARTNERS
FEES PERPARTNER
()
NO. OFPROFES-SIONALSTAFF
AVG SALARYOF STAFF () % MALE % FEMALE STATUS
INCOME(m)
%CHANGE
INCOME(m)
%CHANGE
INCOME(m)
%CHANGE
INCOME(m)
%CHANGE
INCOME(m)
%CHANGE N
OP 50 TABLE
1)
2)
3)
4)
5)
6)
9)
7)
8)
(10)
(11)
(12)
(13)
(15)
(16)
(17)
(18)(19)
(20)
(21)
(23)
(22)
(24)
(25)
(26)
(27)
(-)
(28)
(31)
(30)
(29)
(32)
(33)
(-)
(36)
(37)
(34)
(47)
(35)
(45)
(42)
(43)
(39)
(40)
(41)
(44)
(46)
(52)
(38)
(48)
2,248.00
1,969.00
1,630.00
1,383.00
381.00
335.10
225.00
190.00
175.10
140.40
138.80
103.80
89.60
70.00
55.70
52.10
47.0045.36
43.50
31.20
27.60
27.45
26.60
26.40
23.38
22.90
21.00
20.81
18.38
18.30
17.30
16.87
16.40
16.25
15.81
15.70
15.70
15.60
14.90
14.75
14.21
13.60
13.40
13.20
12.80
12.70
12.10
12.00
11.90
11.72
0.2
-2.0
-1.6
7.9
0.7
-5.0
49.0
-7.0
-3.3
-1.0
10.0
1.8
-3.0
13.0
-4.3
1.3
1.31.0
4.8
1.0
4.2
0.3
2.7
8.0
2.1
1.8
20.7
9.1
2.1
-1.0
-8.5
2.3
0.0
15.0
7.3
7.0
-3.7
31.0
-4.9
14.5
4.2
2.3
-5.6
-6.4
-7.0
-3.0
0.0
9.0
-18.8
0.2
682.0
382.0
61.8
11.1
13.5
8.6
20.9
4.0
4.3
4.0
5.0
3.0
-1.3
-9.7
-16.5
25.6
4.8
18.0
9.0
48.3
9.0
10.0
30/06/09
31/05/09
30/09/09
03/07/09
30/06/10
03/07/09
30/06/10
31/03/10
30/04/10
31/03/10
31/12/09
31/08/10
30/04/09
30/04/10
31/03/10
31/03/10
31/03/1030/04/10
30/04/10
31/03/10
30/06/10
30/04/10
30/04/10
31/05/10
31/03/10
30/04/09
30/06/10
30/09/09
30/04/10
31/05/10
31/03/10
31/03/10
30/06/10
31/12/09
31/03/10
31/03/10
31/03/10
30/06/10
30/04/10
31/05/09
30/04/10
31/03/10
30/04/10
30/09/09
31/03/10
30/04/10
31/03/10
30/04/10
31/12/09
31/03/10
41
23
22
21
29
14
50
28
10
23
37
18
19
47
49
10
819
6
10
9
11
7
10
2
2
2
1
6
1
14
7
8
185
11
6
1
1
4
4
3
9
4
5
4
2
4
7
1
1
858
681
569
515
225
201
253
117
214
94
161
106
143
94
103
61
6992
61
50
51
47
36
45
14
28
13
20
28
31
34
19
185
27
21
23
13
21
25
22
21
20
21
11
19
20
1
13
12
2,620,000
2,891,000
2,860,000
2,685,000
1,700,000
1,400,000
900,000
1,633,000
818,000
1,490,000
862,000
979,000
600,000
745,000
541,000
850,000
680,000494,000
713,000
624,000
541,000
584,000
739,000
587,000
1,671,000
818,000
1,610,000
1,041,000
650,000
600,000
500,000
863,000
88,000
586,000
750,000
700,000
1,200,000
709,000
590,000
646,000
648,000
670,000
573,000
1,164,000
668,000
610,000
12,000,000
915,000
977,000
13,306
9,563
7,520
7,052
2,780
1,724
2,106
1,609
792
1,355
1,061
1,060
507
578
309
391450
347
301
232
240
263
255
202
132
162
108
250
185
94
550
198
144
111
90
140
150
128
204
94
124
122
143
89
50
64
125
45,736
40,000
42,285
36,975
36,530
39,000
32,000
33,000
28,000
42,000
40,000
41,370
36,000
87.0
86.0
86.0
85.0
85.0
89.7
89.0
86.0
83.0
91.0
91.0
90.6
89.5
89.0
79.0
85.090.0
88.0
86.0
86.0
89.4
94.7
95.0
96.0
84.6
90.0
83.0
84.0
88.6
84.0
85.0
96.0
96.0
78.0
69.0
96.0
92.0
91.0
86.0
95.0
82.0
89.5
70.0
100.0
69.0
75.0
13.0
14.0
14.0
15.0
15.0
10.3
11.0
14.0
17.0
9.0
9.0
9.4
10.5
11.0
21.0
15.010.0
12.0
14.0
14.0
10.6
5.3
5.0
4.0
15.4
10.0
17.0
16.0
11.4
16.0
15.0
4.0
4.0
22.0
31.0
4.0
8.0
9.0
14.0
5.0
18.0
10.5
30.0
0.0
31.0
25.0
LLP
LLP
LLP
LLP
LLP
LLP
PLC
LLP
LTD
LLP
LLP
LLP
PLC
PLC
Pship
Pship
LLPLLP
LLP
LLP
LLP
Pship
LLP
Pship
Pship
Pship
Pship
LLP
Pship
LLP
Pship
Pship
LLP
PLC
Pship
LLP
Pship
PLC
LLP
LLP
LLP
Pship
LLP
Pship
LTD
Pship
Pship
Pship
Pship
LLP
861.0
567.0
485.7
134.0
99.1
70.0
94.0
21.9
59.0
63.1
68.9
26.6
17.5
28.122.1
23.1
12.0
15.8
12.1
8.2
10.5
8.6
9.9
5.8
8.0
4.7
4.8
6.4
7.7
7.3
6.9
3.3
12.0
3.5
5.4
-1.0
7.0
4.6
-4.8
-7.0
62.0
-8.0
-18.0
-1.0
13.0
5.2
-0.4
5.0
6.08.0
3.3
7.0
1.4
2.0
7.1
-0.3
4.7
0.0
5.8
3.0
-6.3
29.0
4.7
5.5
-5.0
-4.0
-0.3
9.0
-7.9
3.0
650.0
459.0
375.0
92.5
90.1
56.0
53.0
32.4
33.7
24.7
21.3
20.6
13.5
12.99.8
5.3
7.8
5.4
6.3
9.8
3.3
5.4
3.4
4.4
2.7
3.4
4.8
2.8
3.2
2.6
2.6
5.9
6.5
4.3
-4.0
-7.0
-11.9
-5.3
-8.0
30.0
-4.0
-4.0
5.0
14.0
-17.4
-4.9
2.0
0.0-12.0
3.3
7.0
-3.6
12.5
10.6
-5.2
5.9
5.0
5.8
10.0
-6.4
20.0
10.5
0.0
-10.0
-4.0
-4.2
-23.5
6.0
737.0
406.0
765.2
23.3
12.3
2.4
0.51.8
6.3
1.5
3.3
5.2
1.8
0.2
2.3
2.3
3.6
0.9
2.9
1.8
0.7
1.6
0.2
0.2
5.0
3.0
0.4
2.0
-21.0
-31.7
-62.023.0
27.6
0.0
-2.1
0.0
15.9
-51.5
-5.5
0.0
5.9
0.0
-5.5
13.0
-3.4
78.8
0.0
7.1
160.0
92.0
50.0
32.0
10.0
15.2
13.5
13.6
27.8
0.36.5
3.9
6.0
2.0
17.5
0.6
0.1
2.1
0.6
0.8
3.4
0.6
1.7
0.9
50.0
22.1
16.0
3.0
-16.0
-4.0
5.0
11.5
0.05.0
2.3
5.0
5.8
-21.4
8.0
-10.1
-1.7
14.3
3.0
0.0
6.2
50.0
283.0
253.0
43.5
31.1
10.0
12.0
5.0
9.2
3.9
2.0
1.2
1.11.1
1.8
0.3
0.4
0.5
0.8
0.0
0.4
0.8
0.9
0.4
1.4
0.2
0.1
0.2
0.2
0.4
1.7
-9.0
-19.0
-1.1
-41.0
64.0
-25.0
-18.0
-18.0
-15.0
-14.8
-32.0
-22.0-40.0
6.7
-63.0
10.0
-37.0
9.5
-75.0
233.3
12.0
69.0
-29.0
8.2
-50.0
-50.0
-11.8
-63.6
-18.0
PARTNERS AUDIT/ACCOUNTING
TAX CONSULTANCY INSOLVENCYCORPORATEFINANCE
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8/6/2019 Accountanct Firm Ranking
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RANK 2010 (2009)
UK FEEINCOME
(m)
+50 TABLE
ACCOUNTANCYAGE.COM/FEATUR17 JUNE 2010
16 : TOP 50 + 50
While the Top 50 accountancy firms havebeen struggling to cope with the tougheconomic conditions, things are even worsefor the firms below them. Our second annual+50 table shows that growth for those firmsranked from 51 to 100 has virtually ground to
a halt. The average growth rate for those that responded to thesurvey was just 0.3%. Just 21 firms managed to record revenue risesover the last twelve months while 23 saw their income fall.
Many expect little to change in the coming months. When asked fortheir outlook on the next twelve months, most believed the economicsituation remained challenging with others saying they expectanother tough year ahead. As a result, most anticipate the number ofprofessional and support staff to remain broadly the same during thenext twelve months. However, only two respondents actually expecttheir revenue figures to fall, while 24 hope to see some growth.
The situation may also be worse than the table shows. There area few new faces in the +50 and several of those that featured lastyear declined to complete the survey. Some were quite open intheir reason for not participating their results had been very poorand they didnt want to make their figures public.
By contrast, the new members of the +50 recorded some of themost impressive figures.
ASE only just failed to make the Top 50 as a new entrant, ranking51st with growth of 17% and revenues of 11.1m. Moore andSmalley debut in 59th position with revenues of 10.2m andgrowth of 2% while Montpelier Chartered Accountants make theirmark in 62nd position, growing 13% to 9.7m. A massive incomerise of 29% meant that Cumbrian accountants Lamont Pridmorealso sneaked into the +50 table at 97 with revenues of 2.1m.
Others havent been so fortunate this year. Rothman Pantall,based in the South of England, dropped 10 places to 67th afterturnover fell 14.5% to 8.8m. Big falls in its tax and consultancylines were at the heart of the problem.
Critchleys fell six places to 74th after bringing in 7.4m, 9%below its 2009 figures. Jeffreys Henry also slid down the table to80th place. Its 5.5m fee income was 10% lower than last year.
Given the economic pressure heaped on the firms and theirsmaller size, other issues such as the environment and diversity have
taken a back seat for now. Only five of the +50 admitted to having adedicated diversity director at the firm, while just 12 have a companywide policy on reducing their corporate carbon footprint.
Another tough year ahead is predicted, and while many in our+50 table will be hoping to move up into the big league, most willsimply be happy to keep their heads above water.
+50
BEST OFTHE RESTITS BEEN A HARD YEAR FOR THE +50 FIRMS, WITH MANY
STRUGGLING TO GROW AND MOST ARENT EXPECTING
IMPROVEMENT ANY TIME SOON, WRITES PAUL GRANT
51 (-)52 (50)
53 (49)
54 (53)
55 (54)
56 (51)
57 (55)
58 (60)
59 (-)
60 (58)
61 (56)
62 (-)
63 (61)
64 (62)
65 (65)
66 (59)
67 (57)
68 (64)
69 (67)
70 (66)
71 (69)
72 (72)
72 (70)
74 (68)
75 (73)
76 (71)
77 (75)
78 (74)
79 (77)
80 (76)
81 (80)
82 (78)
83 (79)
84 (81)
85 (-)
86 (83)
87 (82)
88 (88)
89 (85)
90 (89)
91 (-)
92 (90)
93 (91)
94 (93)
95 (92)96 (95)
97 (-)
98 (96)
99 (98)
100 (99)
%CHANGE YEAR END
NO. OF PARTNER(FEES PER
PARTNER ())
* Income figure estimated by Accountancy Age. Partners and directors included in fees per partner calculation. IOM is not part of the UK but is part of the British Isles
ASESimmons GainsfordBarnes Roffe
Bishop Fleming
Beever and Struthers
Hillier Hopkins
Henderson LoggieSilver Levene
Moore and Smalley
James Cowper
Campbell Dallas
MontpelierThomas Westcott
Barber Harrison and Platt
Forrester Boyd
French DuncanRothman Pantall
Spofforths
Brebners
Berg Kaprow Lewis
Scrutton Bland (*)Dains ()
Mitchell Charlesworth
Critchleys Accountants
Whittingham Riddell (*)Goodman Jones
Chiene & Tait
Rayner Essex
Martin Greene Ravden
Jeffreys HenryHarris Lipman
Creaseys (*)
Bird Luckin
Adler Shine (*)
Wingrave YeatsTaylor Cocks
Broomfield & Alexander
Moore Thompson
EQ Chartered AccountantsRaffingers Stuart
Bennett Brooks & Co
SMP Accounting and Tax()
Hartley Fowler
HWB
Lambert ChapmanWellden Turnbull
Lamont Pridmore
Begbies Chettle Agar
TWP AccountingDunkley & Co
11.1010.95
10.83
10.81
10.80
10.5410.40
10.30
10.20
10.03
9.909.71
9.30
9.24
9.10
8.908.81
8.80
8.10
7.957.94
7.59
7.59
7.40
7.117.10
6.20
6.12
5.80
5.545.26
5.19
4.90
4.704.50
4.33
3.90
3.78
3.603.56
3.50
3.33
3.223.19
3.102.67
2.10
1.821.60
1.50
17.00.7
-5.5
3.4
6.9
-1.93.0
9.6
2.0
1.0
-1.012.9
1.0
2.0
5.1
-3.0-14.5
1.1
-1.2
-5.40
4.1
-3.5
-9.0
0-2.7
-4.6
5.6
-3.3
-10.09.5
0
-3.9
0-8.5
7.0
-5.8
2.1
-6.5-3.0
7.6
-8.1
-4.7-0.6
-6.04.4
28.7
-6.60.0
0.0
31/12/0931/03/10
31/12/09
30/04/10
30/09/09
31/03/1030/11/09
31/05/09
31/03/10
30/04/10
31/05/1031/12/09
30/04/10
31/12/09
02/04/10
30/04/1031/03/10
31/12/09
05/04/10
31/03/1031/03/10
31/03/10
30/04/09
31/05/10
31/03/1031/05/09
30/09/09
30/09/09
31/03/10
30/04/1031/03/10
30/04/10
30/09/09
31/03/0930/06/09
31/12/09
31/03/10
31/12/09
31/03/1031/12/09
31/08/09
31/12/09
31/03/1031/05/09
30/06/0930/06/09
31/03/10
31/03/1031/03/10
30/04/10
5 (2,220,00017 (644,000
17 (660,000
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26 (415,000
22 (479,00020 (520,000
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17 (600,000
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17 (582,00021 (460,000
17 (540,000
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20 (400,000
19 (426,000
13 (612,00012 (661,000
10 (698,000
16 (470,000
12 (616,000
13 (546,00015 (474,000
7 (886,000
11 (556,000
14 (414,000
8 (693,00010 (526,000
9 (576,000
15 (327,000
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9 (482,000
7 (557,000
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6 (576,000
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3 (700,000
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