About this Practice

Location: 870 Devon

Headline Points:

Internally prepared Management Accounts. Period 1^st April 2024 to 30^th September 2024 (6-months): Total Income £120,685.
Period of accounts. Year Ended 31^st March 2024 (12-months): Sales, £242,577. Unbilled Work-In-Progress is in the order of £28,000.
Company to transfer to the Successor practice on a ‘cash-free, debt free’ basis.
Emphasis of Work Types – obtained from professional indemnity insurance proposal form 2024/2025:

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

Goodwill, Work-In-Progress, Furniture, Fixtures, Fittings, Equipment and Library – Offer invited.
Offices are fully furnished and chattels are transferrable to the acquiring practice.
The acquirer/merging entity of this business to be the Successor practice.
Office Premises: Full repairing business Lease to be available for up to 12 months if required – No Business rates, also a Licence for continued use of a nearby storage facility for closed matters.
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 other payments made for the running of the practice.
Consultancy for the out-going principal: Working status / arrangements and remuneration to be negotiated.
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.
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.

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