Local authority-owned law firm LGSS Law Ltd has reported a return to profit in 2019/20.
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The company – which is jointly owned by Cambridgeshire County Council, Northamptonshire County Council and Central Bedfordshire Council – made a profit of £349,612 in the last financial year.
Having spent 2019/20 reviewing its practices and processes, the firm was able to increase turnover by 8.3% and reduce its operating costs by 9.7%. It also reduced the amount owed to its creditors by £2,628,000.
In addition, a new Non-Executive Chairman was appointed in April 2019, a new Non-Executive Director was appointed in July 2019, and the Interim Executive Director was made permanent in her role in August 2019.
The Covid-19 pandemic saw the firm’s workload increase in March 2020 and throughout the lockdown, and early indications are that 2020/21 will be another positive year for the firm.
LGSS Law Ltd began trading as a private law firm in April 2015 and is wholly owned by the public sector.
As a partnership between Cambridgeshire County Council, Northamptonshire County Council and Central Bedfordshire Council, its core business is the provision of legal services to local authorities.
Over recent years its client base has grown and widened to include more than 100 organisations across the public and not-for-profit sectors including Local Authorities, Clinical Commissioning Groups, Foundation Trusts, Charities and Fire Services.
Professor Stephen Mayson, Non-Executive Chairman of LGSS Law Ltd said: “LGSS Law has faced a challenging couple of years. With the support of shareholders and the commitment of our staff, the new board has been able to focus on the core purpose and performance of the business - delivering timely and effective legal services to the public sector. Under the leadership of the Executive Director, Debbie Carter-Hughes, the company has achieved a significant turn-around and is now well-placed for further development and success.”
Cambridgeshire County Council has a track record of high achievement and a reputation for continuous performance improvements across all its services.