01 — Tell us about the company

A conversation, then a look at the numbers. We ask for the latest accounts or management figures, a list of creditors, details of any secured lending, and whatever correspondence has come in from HMRC, enforcement agents or solicitors.

We also ask up front about personal guarantees, director’s loan accounts, and anything that has left the company in the last couple of years. Not to be awkward — these determine whether a transaction is possible, and finding them out late is what kills deals.

No charge, no obligation. If the answer is that you need a licensed insolvency practitioner instead of us, you will be told that here, before any fee is mentioned.

02 — We come back with terms

Where the company fits an acquirer’s criteria, we go to them and come back to you in writing: what they will pay, how it is structured, what our fee is, and what completion needs. Usually within a few working days of having complete information.

Nothing is committed at this stage.

03 — Documentation

Consideration is agreed and a share purchase agreement is drawn up. Have your own solicitor look at it — we act as your intermediary, not your legal adviser, and we will always tell you to get the documents reviewed.

04 — Completion

Stock transfer forms signed, you resign, the incoming director is appointed, registers written up and filings made at Companies House. The company’s books, records and system access hand over.

Getting the records across complete matters. If the company is ever looked at afterwards, that is the first thing anyone asks for, and it is the easiest thing to get right.

How long it takes

Where the information is complete and there is no petition outstanding, two to three weeks from first contact is normal. Most of the timetable depends on how quickly documents can be produced at your end, not ours.