I will be writing to the vendors accountants.
Apart from asking for a) certified accounts for say last 3 years and b) copies of vat forms 100 in support of a) is there any other information that would be needed to come to a decision about the desirability-or otherwise-of buying the business?
Many thanks
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Erm, due diligence?
I was acting for a client buying a business I would want to do a proper due diligence exercise. I would regard this as essential if the business was incorporated.
Due diligence
The business is operated by a sole trader
I am not sure how much due diligence can be undertaken?
Starter for 10
You could start a list with these potential problems:
Employees transferring under TUPELeased property with potential dilapidations or onerous conditionsPlant and equipment without good title including leased assets that have been capitalisedCondition and completeness of stockCondition and completeness of fixed assetsBreaches of planning, environmental, H&S legislationDependence on key suppliers for business continuitySuppliers with special conditions, e.g. deposits for energy supplyCustomer contractsLiability for past sales, product liability