We have for sale a shareholding in a wholesale tractor and machinery sales business, comprising 40% of the overall shares. We are acting on behalf of the Liquidators of another Company that owns the shareholding.
The balance sheet for April 2024 is as follows:
|
Account
|
£
|
|
Fixed Assets
|
24,229.68
|
|
Current Assets
|
743,312.97
|
|
Provision for bad debts*
|
(250,000.00)
|
|
Total Current Assets
|
493,312.97
|
|
Creditors
|
202,397.14
|
|
Net Current Assets (Liabilities)
|
290,915.83
|
|
Total Assets less Current Liabilities
|
315,145.51
|
*It should be noted that the Liquidators of the Company owning the shareholding dispute this provision for bad debts
Unfortunately, the business relied on a relationship with one main customer that has turned sour, and there is a significant book debt currently in the hands of solicitors.
The parent company has effectively ceased trading and is not doing any other business bar trying to recover the debt. Therefore it’s primary asset is the book debt of circa £750,000.
We consider this an opportunity to acquire a shareholding with the potential for a substantial dividend once the book debt is resolved. We understand that the parent company has appointed specialists seeking it’s recovery.
The deadline for expressions of interest is 12pm on Monday 1st July 2024. | 
