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Preparing Your Business For Sale
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For a straightforward discussion about your business for sale please call 01264 891035 or complete the Enquiry Form to the right.
The main items required to prepare your business or company for sale are as follows: 1. Company or Business Accounts. 3 years full financial statements, including the latest financial year 2. Management Accounts e.g. Sage, Intuit Quickbooks, Xero reports or similar, for the current financial year-to-date, P & L and Balance Sheet. 3. A list of assets, fixtures, fittings and equipment. As up to date as possible and with full descriptions, particularly of machinery, test or calibration equipment etc. 4. Staffing details (be careful with GDPR requirements though - a brief listing of roles, hours and salaries is sufficient at this stage - specify any self-employed or subcontractors) The above is not an exhaustive list, and a more comprehensive checklist is provided at the foot of this page. Preparation is key to a successful business sale or exit strategy. Part of this process is ensuring you and your business are well-documented and well-presented. Our service takes you through the various stages of preparing you and your company and to present a serious and credible selling proposition, and to keep it up to date and fresh throughout the sale process. As a starting point you should have good quality records of financial and commercial data applicable to your company, and maintain this up to date. This applies to accounting data - both historical Financial Statements (or Accounts) and ongoing management figures. Forecasts are helpful as well. Since the advent of MTD (Making Tax Digital) almost all businesses use a management accounting software package such as Sage, Intuit Quickbooks, Xero or Kashflow. These are especially useful for providing prospective buyers with a current snapshot of your business's financial performance. Together with the last 3 (or even 5) year's worth of accounts these help to present the buyer with a good illustration of your company's track record. However every company has far more documented information available and a Checklist is available which will cover the requirements for most types of business for sale. As part of our service, confidentially, and free of charge we will assist you in preparing for sale and in providing a market valuation. Please get in touch via the Contact Form to the right or call 01264 891035. |
Make an Enquiry
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Basic Information Request
The above can be sent via the Contact Form
- Ownership structure (including subsidiaries and holding company)
- List of all directors and shareholders
- Last three years full financial statements (accounts)
- Last financial year monthly management accounts (P&L/income statement and balance sheet)
- Current year monthly management accounts (P&L/income statement and balance sheet)
- Current year forecast and future years (if available)
- Current balance sheet
- List of current mortgages, charges and debentures
- List of personal guarantees
- Summary of any debt (with related security), overdrafts, leases, hire purchase including amount outstanding, debt provider, and period left to run.
- List of current employees (anonymous) covering role, year’s service, annual salary & benefits provided
- List of top 20 customers (by annual sales) (can be anonymous)
- List of top 20 products/services (by annual sales)
The above can be sent via the Contact Form
Downloadable Checklist
| checklist_-_business_preparation_for_valuation_and_sale.pdf |