Location: East London – 908

Headline Points

General Overview:

• Established Limited law company available for take-over
• Main areas of expertise are Criminal Law; Conveyancing; Commercial Litigation and Landlord & Tenant
• Lexcel Accredited
• The transaction will be a sale of Company Shares
• Directors have given notice to terminate the Crime Contract with the Legal Aid Agency which is due to terminate in June 2026.  Steps are being taken to close concluded matters and transfer live cases to other firms holding a crime contract

Financial Overview (Indicative Summary)

• Year End is 31 January
• Fee income for the Year Ended 31 January 2026, c £150,000
• Fee income for the Year Ended 31 January 2025, c £184,000
• Fee income for the Year Ended 31 January 2024, c £294,000
• Work-in-Progress (WIP): circa £50,000 (as at 31 March 2026)
• Business to transfer on a ‘cash-free and debt-free’ basis, however, with the Bounce Bank Loan passing to the acquirer.  The present level of the Bounce Bank Loan is c £23,660 (as at 10 April 2026)
• Client accounts (current and deposit) will be reconciled and transferred in full to the successor practice.

Professional Indemnity Insurance

• Professional Indemnity Insurance is in place for the period 1 October 2025 to 30 September 2026
• Level of cover £3,000,000 any one claim
• Excess Payable £2,500 each and every claim
• Annual premium, including IPT: £ 6,962.55.  Paid in full for the year.
• There are no Notifications made by the company to its Indemnity Insurers, nor are there any Professional Negligence Claims against the Company nor are there any disciplinary findings, sanctions, or open SRA investigations.

Operations & Compliance

• Current live files: circa 60-70 files

Work mix:

• 50%  Criminal Legally Aided
• 20%  Residential Conveyancing
• 3%  Commercial Conveyancing
• 8%  Commercial litigation
• 8%  Landlord & Tenant – Litigious
• 4%  Employment – Litigious
• 1%  Employment – Non Litigious
• 2%  Immigration
• 3%  Matrimonial
• 1%  Debt Collection

Proposed Terms – Sale / Transfer etc to Successor Practice

Consideration:

• Acquirer to take-over the Bounce Bank Loan of £23,660 (as at 10 April 2026)

Structure:

• Transfer to a Successor Practice
• Business transferred on a cash-free, debt-free basis, however, with the acquirer to take-over the Bounce Back Loan

Consultancy:

• Outgoing directors available post sale of company shares to assist with the transfer of the business (transitional period).  Terms to be agreed

Bank Accounts:

• Office bank balances and office debtors do not transfer
• Client accounts to be fully reconciled and transferred
• All payments arising after the transfer date to be the responsibility of the acquiring practice

Compliance Conditions:

• Completion Conditions:
• Full financial reconciliation
• Settlement of all debts to the exclusion of the Bounce Bank Loan
• Client account reconciliation and transfer

Excellent opportunity to acquire a clean SRA regulated law company with Professional Indemnity Insurance in place.  Vendors seek quick transaction.