External Audit Services

Gentoo Group Limited ("Gentoo", "The Group") are seeking to award a contract for the provision of External Audit Services. The Successful Supplier will be required to provide external audit, accountancy advisory and loan covenant compliance services to the Group. The Group includes the following entities all with a 31 March year end: • Gentoo Group Limited Parent housing association and registered provider of social housing. Parent company of all subsidiaries below. • Gentoo Homes Limited A private limited company providing development and open market sales. • Gentoo Developments Limited A private limited company with prior principal activities being open market sales. The company remains active to account for final costs. • Gentoo Genie Limited A private limited company also registered with the FCA administering home purchase plans. This company does not provide new home purchase plans and remains active to administer plans for c. 20 customers. • Genie Homeplan Limited A private limited company being a trust company holding the legal title for assets subject to Home Purchase Plans administered by Gentoo Genie Limited. To meet Group deadlines and filing requirements Group and subsidiary accounts are required to be signed prior to 27th September. This is except for Gentoo Genie which has a 27th July filing deadline to comply with FCA requirements. Annual loan covenant requirements are currently: • Six monthly Minimum Performance Level and Annual Income Test Statements for one funder due 14th April and 14th October. • Annual Statement for one funder due 27th September. This currently reports on three covenants (gearing, asset and interest cover) based on the annual audited financial statements. Gentoo Group Limited is the employing entity of c.1,000 employees. The Group operates both a Defined Benefit and Defined Contribution pension plan. Gentoo is a provider of social housing with the Regulator of Social Housing (RSH), which acts as its regulator. Its current principal activities comprise: • Ownership and management of over 29,000 units of housing stock comprising general needs, shared ownership and supported accommodation. • Development of new social housing. • An external maintenance programme. • Ownership and management of commercial and market rent properties accounted for as investment properties. The contract will be in place for a 36 month period, with the option to extend by 2 x 12 month periods, providing there is still a requirement / budget and the successful supplier is performing to a satisfactory standard. The duration will not exceed 60 months.