Accountancy Practice in London SOLD

Reference Number: HB0137

Location:

Turnover: £300k

Status: SOLD

Business overview

–        Outstanding opportunity to acquire a successful accountancy practice based in London.

–        Established in 2002, the practice has achieved steady year on year growth in its core accounting services, with Gross Recurring Fees (GRF) of £235k.

–        The practice has a unique service offering to a niche market.

–        The practice has an established client base of SME’s in London for its accounting services. At the same time the practice has a particular focus on  foreign start-up businesses, international joint ventures, European entrepreneurs as well as global scale operations and investors

–        The practice has a varied client base with c.170 clients requiring regular accounts, tax and company secretarial services, which account for around 80% of the revenue.

–        Over 80% of the revenue can be categorised as Gross Recurring Fees (GRF), the remainder being consultancy project work.

–        The client base is evenly spread with no one client representing more than 11% of the revenue.

–        The business employs a strong team of experienced individuals who can run projects day to day without direct input from the vendor.

–        This is an outstanding opportunity for a mid sized accountancy practice looking for a strategic acquisition to add to their portfolio. Significant synergy savings are possible for such buyers who already have a base in London/South East UK.

Products and Services

–        The practice offers high quality pro-active accounting and financial management services to corporate, SME and private individual clients.

–        The key to its success is its high level of client service underpinned by its systems and processes, which ensures that all clients are dealt with to the same high level.

–        The practice also offers use of an online accounting software package to its customers.

Employees:

–        1 director (vendor) + 1 senior accountant, 2 trainee accountants, 2 bookkeepers.

Premises:

–        The business operates from 1100 sq.ft offices owned by the vendor.

–        Market equivalent rent, rates and service charge: £43,700 per year.

Reason for sale:

–        The vendor wishes to leave accounting and pursue other business interests.

Financial overview

Year ending 30th September 2011

Total revenue:                         £300,000

Gross Recurring Fees:           £235,000

SOLD

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