Location: Middlesex – 852

Headline Points:

1. Fee Income obtained from Internally prepared Management Accounts for the period 1^st April 2023 to 31^st January 2024 £1,025,000.  Work-In-Progress in the order of £240,000.00.

2. Fee Income for the Year Ended 31^st March 2023 £1,261,680.

3. Fee income for the Year Ended 31^st March 2022 £1,573,407.

4. Fee income for the Year Ended 31^st March 2021 c £1,208,520.

5. Current Work Types – circa figures / obtained from professional indemnity insurance proposal for 2023/2024:

          31%  Corporate & Commercial

          28%  Conveyancing – Residential

          12%  Conveyancing – Commercial

18%  Litigation (Commercial)

6%  Probate & Estate Administration

5%  Non-Litigious

Herewith Terms for the Sale/Merger/Take-over etc of Law Practice:

1. The vendors wish to complete any transaction by date of renewal of Professional Indemnity Insurance; i.e: 31^st March / 1^st April 2024.

2. Goodwill, Work-In-Progress, Debtors, Furniture, Fixtures, Fittings, Equipment and Library – Offer invited.

3. Offices are fully furnished and chattels are transferrable to the acquiring practice.

4.  The acquirer/merging entity of this business to be the Successor practice.

5.  Premises: Lease expires 31^st December 2024.

6.  The acquirer of this practice will be required to take-over the unexpired part of all on-going agreements relating to future payments for software licenses, equipment, furniture, fixtures, fittings, storage rental, PI insurance, library and any payments made for the running of the practice.

7.  Consultancy for the two partners:  On-going working status / arrangements and remuneration to be negotiated.

8. Employed members of staff:  To transfer to the Successor firm in accordance with TUPE Regulations, i.e: on the same terms and conditions they presently enjoy.

9. Money held in Office Bank Account and Office Debtors do not transfer to the acquirer.  Clients’ Accounts, both Current and Deposit will be reconciled and transferred to the acquirer.  Ongoing payments commencing the first day after date of transfer of the business will be discharged by the acquirer of the business.