Listing:  Listing #4287903 (the group). Company name and legal entity disclosed after a signed NDA.
Business Website:  Disclosed in the data room
Business Location:  United Kingdom, remotely operable team
Business Start Date:  2023, with scale stepping up after its first acquisition in late 2024
Business Model:  Tech-enabled business services and accountancy consolidation (services, retainers and platform subscriptions)
Industry:  Business services, accountancy and SME software
Percentage Being Sold:  100%
Revenue (TTM):  ~£3.08M
Profit (TTM):  ~£1.75M (~57% margin)
Annual History:  ~£0.46M (2023), ~£0.40M (2024), ~£0.68M (2025), stepping up to ~£3.08M on the TTM as the first acquisition consolidated. The step-change is a primary reconciliation item in diligence.
Asking Price:  £20,000,000
Implied Multiples:  about 11.4x trailing profit and about 6.5x trailing revenue
Completed Acquisition:  First practice acquired late 2024, funded from internal cashflow
Tag Line:  Founder-Led UK Accountancy Consolidation Platform

1.  Executive Summary

The Company is a UK technology-enabled business services group. It brings company formation, compliance, accounting, advisory work and a set of digital tools into a single operating environment, and it is building scale by acquiring UK accounting practices and integrating them onto that platform. The first acquisition, an established UK company-formation business, completed in late 2024 and was funded from the group's own cashflow rather than external debt.

On a trailing-twelve-month basis the group reports revenue of about £3.08M and profit of about £1.75M, a margin near 57%. That trailing figure reflects the business after its first acquisition was consolidated, and it is a marked step up from the standalone annual history, which showed revenue below £700k through 2025. A buyer should treat the reconciliation of that step-change, and confirmation that the trailing profit is recurring and normalised, as the central diligence task. The financial section sets out both the annual series and the trailing figures side by side so the shift is visible.

The strategy is a founder-led buy-and-build. The founder is a UK Chartered Accountant with a background in practice ownership and operational improvement, and the plan is to acquire sub-scale or underperforming practices, improve their margins, and fold them into a centralised model. Management's stated target is a first group of 75 acquisitions, each funded from internally generated cashflow rather than external borrowing, which is intended to reduce balance-sheet risk and dilution.

The business is offered as a 100% sale at an asking price of £20,000,000, which is about 11.4 times trailing profit and about 6.5 times trailing revenue. The seller will review all-cash and structured offers, and is open to a founder transition to hand the strategy over cleanly. Management also publishes a forward plan that points to around £27M of turnover by January 2027 and a headline valuation well above the current asking price. That plan is a set of projections contingent on executing the acquisition pipeline, and it is presented in Section 11 and weighed in the risk section rather than treated as current value.

2.  Company Overview and History

The Company was built to support entrepreneurs and smaller companies across the whole life of a business, from first incorporation through ongoing compliance and into growth. Rather than operate as a traditional accountancy firm, it positions itself as an operating environment for founders, combining the services a company needs with software that keeps those services organised in one place.

The group's recent history is defined by its move into acquisition. In late 2024 it acquired an established UK company-formation business and funded the purchase from its own cashflow. Management reports that the acquired business was integrated into the group operating model and that its margins improved after the acquisition. This first deal is the proof point for the wider strategy, and the group has stated that it is progressing a second acquisition on the same cashflow-funded basis.

The annual financial history shows a small business through 2023 to 2025, with revenue below £700k and profitability only emerging in the last of those years. The trailing-twelve-month position is materially larger, at about £3.08M of revenue, because it captures the consolidated group after that acquisition. The corporate structure, the statutory accounts for each entity and the detail of the acquisition are released in the data room.

3.  Products and Services

The group earns revenue in three ways, which management describes as a single client journey rather than three separate businesses. Clients typically arrive through a one-off service, move into a recurring retainer, and then adopt the software platform, so that the average revenue per client rises over time while the cost of winning that client stays low.

One-off services

These are the transactional and milestone services a company needs at particular points, such as UK and international company formation, VAT and tax registrations, business plans and pitch decks, nominee director and corporate shareholder services, and one-off advisory or restructuring work. They are profitable in their own right, but their main role is to bring clients into the group efficiently and then convert them into longer-term relationships.

Recurring retainers

These are the ongoing compliance and finance services delivered on monthly or annual retainers, including accounting and bookkeeping, payroll, VAT returns, company secretarial work, registered office handling and outsourced finance or CFO support. This is the most stable and predictable part of the revenue base and, in management's model, it is the cashflow that funds further acquisitions.

Platform subscriptions

The software platform is sold as a subscription and is intended to make the group an operating system for entrepreneurs rather than only a service provider. Its features include a networking and investor suite, a startup AI builder, legal and document builders, compliance dashboards and reminders, setup and growth workflows, financial reporting tools and a partner marketplace. Management's case is that platform adoption lets the group grow without adding headcount in proportion, and that subscription revenue improves the quality of earnings. The current scale of platform revenue and adoption is a diligence item, since it is the newest of the three streams.

4.  Acquisition and Consolidation Strategy

The growth engine is the acquisition of UK accounting practices, funded from the group's own cashflow rather than from external borrowing. Management frames this as lower risk than a debt-driven roll-up, because it avoids balance-sheet debt and reduces dilution, at the cost of pacing acquisitions to the cash the group generates.

The stated acquisition criteria are an established client base, recurring fees of around £300k as the target size, strong compliance revenue, room to improve margins and operations, and a cultural fit with a platform-led model. Practices below £1M of turnover are described as trading at price-to-earnings multiples of roughly 0.8 to 1.4 times, which is the arbitrage the strategy relies on: buying small practices at low multiples, improving them, and holding them inside a group that management believes should be valued more highly.

The first acquisition is presented as evidence that the group can both buy and integrate. The near-term objective is a second acquisition on the same basis, and the longer-term objective is a first wave of 75 practices, with a pipeline management says extends beyond that. The pace, the funding and the integration record are the items a buyer would test, and they are addressed again in the risk section.

5.  Market and Customers

The UK accountancy and business-services market is large and highly fragmented, with a long tail of small, owner-operated practices. That fragmentation is the opportunity behind the strategy, because it creates a steady supply of sub-scale practices that can be bought at modest multiples and consolidated. Many of these practices have loyal, recurring client bases but limited technology and succession options, which is the gap the group aims to fill.

The end customers are entrepreneurs and small and medium-sized enterprises that need formation, compliance and finance support and, increasingly, software to manage it. Because much of the revenue is compliance-driven, it is recurring and non-discretionary, which supports predictability. Client concentration, retention by cohort and the split of revenue between the legacy business and acquired practices are set out in the data room.

6.  Financial Performance

The group is reported in pounds sterling. The most important feature of the numbers is the step-change between the 2025 annual figures and the trailing-twelve-month figures, which reflects the consolidation of the first acquisition and is the first thing a buyer should reconcile.

Across the annual history, revenue was about £0.46M in 2023 (a small loss), about £0.40M in 2024 (roughly £8k of profit, near 2%) and about £0.68M in 2025 (roughly £105k of profit, near 15%). On a trailing-twelve-month basis, revenue is about £3.08M and profit about £1.75M, a margin near 57%.

Figures are not yet independently audited. The trailing-twelve-month figure captures the consolidated group after the first acquisition, which is why it is several times the 2025 annual revenue. Full statutory accounts and a monthly breakdown that bridges the annual and trailing positions are released in the data room.

How to read the numbers

Two points matter for valuation. First, the trailing profit of about £1.75M sits on a margin near 57%, which is high for professional services and should be confirmed as sustainable rather than a product of acquisition accounting, timing or an under-invested cost base. Second, the annual series and the trailing figures describe businesses of very different sizes, so a buyer needs a clean monthly bridge from the standalone base to the consolidated group. Both items are standard to resolve in diligence, and the data room is structured to answer them.

Asking price and multiples

The asking price of £20,000,000 implies about 11.4 times the trailing profit and about 6.5 times the trailing revenue. Management argues that the platform and consolidation model justify a full multiple relative to a standalone practice. A buyer should form its own view on the multiple in light of the margin and reconciliation points above, and against the forward plan set out in Section 11.

7.  Revenue Streams and Unit Economics

The unit economics rest on moving a client along the journey from a single service to a retainer and then to a subscription. Because the one-off services double as the acquisition channel, the group adds recurring revenue without a separate marketing cost for each retainer, which is what supports the margin as clients mature. The retainer base then provides the predictable cashflow that funds acquisitions.

The acquisition side has its own economics. Buying practices at price-to-earnings multiples of roughly 0.8 to 1.4 times, then improving their margins and holding them within a larger group, is intended to create value on each deal. The realised improvement on the first acquisition, the true recurring share of group revenue, the current contribution of platform subscriptions and the blended retention rate are the metrics that turn this model from a narrative into evidence, and they are provided in the data room.

8.  Operations and Team

The strategy is led by the founder, a UK Chartered Accountant with experience in practice ownership, operational improvement and scaling. That background is the group's main execution advantage, because identifying underperforming practices and improving them is a specialist task. It is also the group's main dependency, since the acquisition thesis and the integration model currently rest heavily on one person.

Operationally, the group runs a centralised model into which acquired practices are integrated, supported by the software platform. For a buyer, the key questions are how much of the operation is documented and repeatable rather than held by the founder, and what transition or earn-out arrangement would keep the founder engaged through the next phase of acquisitions. The organisation chart, the integration playbook and any proposed transition terms are set out in the data room.

9.  Technology, Platform and Defensibility

The platform is what separates the group from a conventional accountancy roll-up. It combines client-facing tools, a startup AI builder, document and legal builders, compliance dashboards and reminders, reporting tools, and a partner marketplace, and it is the layer onto which acquired practices and their clients are migrated. Management's argument is that this software lets the group scale without adding staff in proportion to revenue and improves the quality of earnings as subscriptions grow.

The value of that argument depends on the platform's maturity and adoption, which is why it is a diligence priority. A buyer will want to see the current subscription revenue, active usage across the client base, the development roadmap and the ownership of the code and data. The technical and product due-diligence material is available in the data room.

10.  Growth Opportunities for a Buyer

The business is offered part-way through a defined expansion, which leaves several clear levers for a buyer.

• Accelerate the acquisition pipeline.  The model is paced to internal cashflow. A buyer with access to capital could acquire practices faster than cashflow alone allows, while keeping the same disciplined criteria and integration model.

• Deepen platform adoption.  Migrating acquired practices and their clients onto the subscription platform raises revenue per client and improves earnings quality. Systematically converting the existing service base is a near-term lever that does not depend on new acquisitions.

• Improve acquired-practice margins.  The thesis is buying at low multiples and improving operations. A buyer that can bring procurement, shared services or automation to the group can widen margins across the acquired base.

• Cross-sell across the journey.  Moving one-off clients into retainers and retainer clients into subscriptions increases lifetime value from the existing base without new client-acquisition cost.

• Institutionalise the model.  Reducing dependence on the founder by documenting the integration playbook and building a deal and integration team turns a founder-led approach into a repeatable engine, which also supports the valuation a future buyer would pay.

11.  Financial Outlook and Projections

Management publishes a forward plan that is separate from the current results and should be read as a set of projections, not as present value. The plan targets a first wave of 75 acquired practices and around £27M of turnover by January 2027. Applying a ten-times earnings multiple, which management describes as an industry benchmark for profitable, recurring-revenue services businesses with a platform element, it points to a headline valuation of about £108M at that future point.

These figures are the seller's own forecast and carry the usual caveats, with two specific ones here. First, the projections depend on completing roughly 75 acquisitions and integrating them within a compressed window, each funded from cashflow. Second, in the financial model provided to us the forward projection cells did not resolve to values, so the forward figures should be treated as directional management targets to be tested in diligence rather than as calculated outputs. The current asking price of £20M is anchored to trailing performance, not to this forward plan.

The forward plan is management's stated ambition. FIH.com has not independently verified these projections. They are provided so buyers understand the strategy and its intended trajectory, and they are addressed in the risk section that follows.

12.  Known Risk Items

These items are stated plainly because diligence will focus on them.

• Step-change between history and trailing figures.  Annual revenue was below £700k through 2025, while the trailing figure is about £3.08M. A buyer must reconcile this bridge, confirm the timing and completeness of the first-acquisition consolidation, and satisfy itself that the trailing profit is recurring and normalised.

• Margin sustainability.  A trailing margin near 57% is high for professional services. Diligence should confirm it reflects sustainable operations rather than acquisition accounting, one-off items or deferred investment in the cost base.

• Forecast is ambitious and unverified.  The £27M turnover and £108M valuation targets require around 75 acquisitions in a short period. The forward cells in the supplied model did not compute, so the projections are directional. The plan should be pressure-tested before any weight is placed on it.

• Key-person dependence.  The strategy and its execution rest heavily on the founder. Retention, transition and, if relevant, an earn-out are central to protecting value, and the depth of the wider team needs to be established.

• Roll-up and integration risk.  Acquiring and integrating many practices carries operational, cultural and client-retention risk, and each deal depends on continued cashflow. A slowdown in cash generation slows the whole plan.

• Full valuation.  At £20M the asking price is about 11.4 times trailing profit. That is a full multiple that assumes the platform and consolidation story continues, so the price should be weighed against the reconciliation and margin points above.

• Platform maturity and regulation.  The current contribution of platform subscriptions needs to be verified, since it is the newest revenue stream. As an accountancy group, the business also carries regulatory, data-protection and client-confidentiality obligations that form part of diligence.

13.  The Transaction

The business is offered as a 100% sale of the group at an asking price of £20,000,000. The seller will review both all-cash and structured offers, and is open to a founder transition and, if a buyer wishes, an earn-out to keep the founder engaged through the next phase of acquisitions. Transition and any earn-out terms are agreed through FIH.com.

At the asking price, the trailing figures imply about 6.5 times revenue of £3.08M and about 11.4 times profit of £1.75M. The first practice was acquired in late 2024 and funded from cashflow. The offer is a 100% sale of the group, on an all-cash or structured basis, agreed through FIH.com.

Multiples are calculated on trailing-twelve-month figures. Forward projections are management targets and are not relied on in the asking price.

The post-NDA data room contains the statutory accounts for each entity, a monthly breakdown that bridges the annual and trailing positions, the first-acquisition detail and post-acquisition performance, the acquisition pipeline and criteria, platform revenue and usage data, the organisation chart and integration playbook, and the forward model. Included in the sale are the operating group and its entities, the brand, the platform and its code and data, the client relationships and the acquisition strategy, with a founder transition to be agreed. Real identifying details beyond this memorandum are disclosed after a signed non-disclosure agreement.

14.  Reason for Sale

The reason for sale and the founder's objectives on a full exit are discussed directly with qualified buyers through FIH.com and confirmed after a signed non-disclosure agreement. The founder is willing to support a transition so that the strategy, the integration model and the client relationships transfer in good order.