The sole practitioner is looking to conduct a sale of the business and assets due to retirement. The Business principally operates from 2 leasehold properties which are both based in high street locations.
The assets available for sale include; Work in Progress of c.£83k in respect of 189 active files, a Will Bank and LPAs of approximately 3.5k, debtors and fixtures and fittings.
Turnover per the draft unaudited financial statements for the year ended 30 April 2021 was c.£376.6k with a net profit of c.£10.7k, and unaudited statutory accounts show turnover of c.£592.5k with a net profit of c.£11k for the year ended 30 April 2020.
The Business has 8 employees across the 2 offices on various contractual arrangements.
To protect the Company’s goodwill and trade, it is proposed that any sale will need to be completed within a relatively short timescale and, as such, this opportunity is only likely to be available for a short period of time.
Following receipt of expressions of interest, and a signed Non-Disclosure Agreement, brief sales particulars will be provided via a data room. Offers for the purchase of the business and/or its assets as a going concern, by way of sealed bids, need to be sent to PKF Smith Cooper by 12 noon on 20 October 2021, together with evidence of funding.
When submitting your offer, please provide contact details of your solicitors and evidence of funding to expedite matters.
If you are interested in pursuing this opportunity further, please contact one of the following for additional information: