Location: South East England – 901

South East – 901

 Headline Points

• Alternative Business Structure (ABS) law company available for sale.
• Sale of company Shares – due to retirement.

 Financial

• Turnover for the Year Ended 31^st January 2025, £144,658.
• Turnover for the Year Ended 31^st January 2024, £142,677.
• Business to transfer on a cash-free, debt-free basis with no liabilities passing to the acquirer of Company Shares.

Breakdown of current work type:

• 100% Leasehold reform work.

Professional Indemnity Insurance:

• Professional Indemnity Insurance is in place for the period 01 April 2025 to 31 March 2026 (inclusive).
• Professional Indemnity cover:  £3,000,000.  Any one claim.
• Excess:  £5,000.  Each and Every Claim.
• Annual premium, including IPT and policy fee: £8,970.  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.

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

1. In the event the acquirer wishes to undertake a different category of work post-acquisition of Shares in the company, the existing owner requires the acquirer to complete the on-going files in the business. It is envisaged all on-going files will be completed within 6 – 9 months from date of acquisition/transfer of company shares.

2. Goodwill, Debtors, Work-In-Progress – Offer invited.
– There is a company vehicle which is fully paid for and will not transfer to the acquirer of the Company Shares.

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

4. Office Premises: Do not transfer to the acquirer on sale of Company Shares.

5. The acquiring practice to assume the unexpired portion of all ongoing agreements, including software licences, and other operational contracts.

6. Consultancy is available to assist with a smooth transition: On-going working status / arrangements and remuneration to be negotiated.

7. Bank Accounts:
• Office bank balances 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.

Excellent opportunity!