ALSO SPECIALISING IN THE SALE / HIRE & SERVICE OF CLEANING EQUIPMENT, E.G. STEAM CLEANERS, PRESSURE WASHERS, FLOOR SCRUBBERS / DRIERS, WAREHOUSE SWEEPERS, VACUUM CLEANERS, UPHOLSTERY & CARPET CLEANING EQUIPMENT, ETC. ETC.
OPERATING FROM INDUSTRIAL UNIT TYPE PREMISES BASED IN LINCOLNSHIRE AND SERVING AN AREA OF AN APPROXIMATE 40 MILE RADIUS.
The business operates from an Industrial Style Unit of approx. 7,000sq.ft. and some 2,000sq.ft. of which is surplus space and sub-let.
The sub-letting of the surplus 2,000sq.ft. is arranged by way of a license at a monthly rent of £815.50 plus VAT (i.e. £9,750 plus VAT per annum).
The business has developed a well founded customer base throughout the surrounding areas.
Account figures will be available for the inspection of bona fide parties subject to signing a Non-Disclosure Agreement. Trading Accounts for the year to 31st March 2016 show Gross Sales £807,536 (ex VAT) with a Gross Profit of £396,566 (49.11%). Operating Profit £102,944 after Directors Remuneration £24,000 Bad Debts £407, Amortisation £11,020 which with these add backs total £138,370.
The operation provides a very comprehensive customer service for the supply of Cleaning, Hygiene & Janitorial requirements together with Hire & Sale of cleaning equipment, e.g. steam cleaners, pressure washers, floor scrubbers, vacuum cleaners, etc.
Run by a working owner together with staff of machine salesman, two van sales drivers, warehouse and contract cleaner, two engineers and a part time office administrator.
The client base is within an approx. 40 mile radius of the premises.
The company is an independent trader (i.e. no Franchise payments) and a member of a private National buying group enabling best price terms to be achieved from suppliers.
The sale will include goodwill, lease of premises, fittings, fixtures, utensils, plant, rolling stock and equipment based on a price of:- £275,000 STOCK EXTRA AT VALUATION
The sale to be arranged by way of a Transfer of Shares in a Private Limited Company. The price subject to adjustment for outstanding debtors / creditors at the time of sale.
The lease of the premises is for a term of 5 years commencing March 2015 (drawn outside the Landlord & Tenant Act) at a rent of £32,500 per annum exclusive of rates and subject to review in March 2018. NB. (i) There is a ‘tenant only’ break subject to six month’s notice enabling a tenant to relocate if so desired. (ii) Current rent reduced by sub-let (see below). The sub-letting of the surplus 2,000sq.ft. is arranged by way of a license at a monthly rent of £815.50 plus VAT (i.e. £9,750 plus VAT per annum).
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