PRESIDENT’S PAGE
James Allen President, Partner, Head of Cambridge Corporate Team, Birketts LLP
Legal Excellence Awards 2025
It is with pleasure that I welcome you to this special edition of the Cambridgeshire Law Society magazine, celebrating the upcoming Legal Excellence Awards 2025. This annual event is an opportunity to recognise the outstanding talent, dedication, and achievements of legal professionals across our region.
Cambridgeshire is home to an exceptionally diverse legal community, from international firms to smaller specialist practices, from barristers' chambers to in-house legal teams. The breadth of expertise across the
county is truly remarkable, covering areas such as commercial law, family law, criminal defence, property, and many more. These awards allow us to shine a spotlight on the individuals and teams who go above and beyond in their commitment to excellence, client service, and the rule of law.
What makes our legal community so special is not only its depth of knowledge but also its willingness to adapt, innovate, and support one another. Whether advising local businesses, advocating for individuals in need, or shaping legal developments on a national scale, legal professionals in Cambridgeshire play a vital role in society. The Legal Excellence Awards provide us with a chance to reflect on
INFORMATION & EVENTS
OFFICERS
President
James Allen Birketts
Vice President
Fiona McLeman FM Family Law
Honorary Secretary
Anna Mortenson, Nichino Europe
Treasurer
Gary Hanson
COMMITTEE MEMBERS
Barristers Rep
Joshua Walters Fenners Chambers
Corporate Partnerships Officer:
John Wright
Corporate Sponsorship Officer
Fiona McLeman FM Family Law
Council Member
Michael Frape Ashtons Legal
CSR & Pro Bono Officer
Alex Curnow Mills & Reeve
Equality, Diversity & Inclusion Officer
Scott Smith Thomson Webb & Corfield
In House Lawyers Rep
Anna Mortenson Nichino Europe
Junior Lawyers Division Representative
Jonathan Dattani Ashtons Legal
LEA Officer
Raina Victor Endomag
L&D Officer
Chris Hoole Appleyard Lees IP
Parliamentary Liaison Officer
Chris Thomas Appleyard Lees IP
these contributions and to celebrate the dedication and skill that underpin the legal profession.
I encourage all members of the legal community to take part - whether by attending the event, or simply taking a moment to recognise the achievements of those around us. This is our opportunity to celebrate the best of what our profession has to offer and to inspire future generations of legal professionals.
On behalf of Cambridgeshire Law Society, I extend my congratulations to all nominees and look forward to a fantastic evening honouring the excellence that defines our legal community.
Patent Attorneys Rep
Kealan Fallon Appleyard Lees IP
PR & Social Media Officer
Josie Beal Birketts
Publications Editor
Kate Harris Birketts
Social Events Officer
Jonathan Dattani Ashtons Legal
Sole Practitioners and Small Firms Rep
Sophie Scotcher Myers Law
Administrator
Penelope Harrington
MEETINGS 2025
Wednesday 23 April
AGM & Committee Meeting
On Zoom 5.30pm
EVENTS 2025
Thursday 27 March
Legal Excellence Awards
King’s College, King’s Parade, Cambridge, CB2 1ST
Drinks reception from 6.30pm. Carriages 1.00am
Thursday 1st May
Legal Tech Talk & Networking
Cass Centre, Shaftesbury Rd, Cambridge CB2 8BS
Registration from 5.30pm, 6.00pm – 7.30pm
Thursday 12 June
Pride Workshop with Sew Positive
Cambridge Design Rooms, Unit 2, Gwydir Enterprise Centre, 23-25 Gwydir St, Cambridge CB1 2LG 6.00pm – 8.00pm
Wednesday 16 July
Garden Party
Trinity Hall, Trinity Lane, Cambridge, CB2 1TJ 6.00pm – 8.30pm
DIVERSITY MATTERS: BEING A PARENT AND A LAWYER
Scott Smith EDI Officer Senior Associate, Thomson Webb & Corfield LLP
Adeeper dive into these statistics finds that this percentage is lower for corporate lawyers than those in litigation, and that lawyers at the largest firms are less likely to have child caring responsibilities than those in smaller ones.
It’s perhaps not surprising that ambitious corporate lawyers renowned for their long hours and late nights are less likely to be juggling parenting responsibilities at the same time. However, with the rise of challenger law firms with alternative structures, a focus on flexible working and worklife balance as well as a couple of high profile cases of lawyers struggling to cope, it poses questions of whether the profession can do more to support lawyers who parent.
Armed with these questions, our EDI Officer, Scott Smith, invited local lawyers
Anna Mortenson, Charlotte Vallins, James Prothero, Michaela Henson and Pawel Piotrowicz for a panel discussion to highlight the real life experiences behind these statistics and find out whether the profession could be doing more to help parenting lawyers. Here’s what he found out…
It's a challenge!
The reality of balancing caring responsibilities around the demands of a career in law is that it can be tough sometimes, however, there is
THE PANEL
Michaela Henson Partner Howes Percival LLP
Based on the most recent SRA statistics, 35% of all solicitors have child caring responsibilities, with the CILEX Regulation Board and the Intellectual Property Regulation Board citing similar percentages amongst their memberships.
no need to struggle in silence. Having open and honest conversations about the challenges puts the topic on the agenda and encourages firms to think about the support they can offer. Reaching out to colleagues who already have children can also be a great way to get support and advice.
You can’t do it all
Parents can feel pressure to show up to work like they don’t have parenting responsibilities, or parent like they don’t have a demanding career, but trying to be everywhere at once is going to lead to burnout. Sometimes it’s not possible to make the school play, and sometimes missing that networking event is unavoidable, but either way that’s perfectly okay.
It takes a village
Juggling parenting responsibilities around a career in law relies on a support system, and there’s no shame in asking for help. It might be asking parents or friends to pick up and drop off kids from school or nursery, utilising paid care for working hours, or relying on school clubs a few days a week, but finding the right combination of support is going to help balance both sets of responsibilities.
No one-size-fits-all solutions
What works for one parent won’t necessarily work for another, but trusting lawyers with the flexibility
James Prothero Senior Associate Mills & Reeve LLP
Anna Mortenson General Legal Counsel Nichino Europe Co., Limited
they need is always going to help. Part time working might be an answer for one person, but may bring with it difficulties over boundary setting for another; working flexible hours might help parents be available for their children at key times during the work day, but the tradeoff of working late nights might not work for others. Whether it’s reduced hours, compressed hours, flexible working, working from home or something else, our panelists highlighted that the key is finding what works best for each individual.
Making progress
Between them, the panelists had a range of experiences and children of all ages, but one thing became clear as the discussion came to a close – things are getting better. Whilst those with older children spoke of struggling to manage childcare around rigid office hours in the past, those amongst our panel with younger children spoke of how flexible working, shared parental leave and working from home had been game changing and part of the “new normal”.
The Cambridgeshire Law Society
Diversity Network would like to extend a huge thank you to the panelists and to everyone who attended the panel discussion. If you have any ideas for future Diversity Network events or would like to get involved please contact our EDI Officer Scott Smith (ssmith@twclaw.co.uk).
Pawel Piotrowicz Partner Venner Shipley LLP
Charlotte Vallins Partner Ashtons Legal LLP
THE VIEW FROM CHANCERY LANE
Michael Frape Law Society Council Member for Cambridgeshire and Peterborough, Chairman Ashtons Legal LLP
Law Society’s Corporate Strategy 2025-2028
The current three-year Corporate Strategy will be coming to an end in October and therefore TLS is in the midst of formulating its Corporate Strategy 2025-2028. TLS’s strategic goals over the period 2022-2025 have been the following:
l Promoting the value of the profession and providing a compelling member offer;
l Protecting the justice system and making sure it applies equally to everyone;
l Maximising our potential by growing our commercial reach by being efficient and sustainable;
l Being an employer of choice for people who want to make a difference.
During 2024, TLS has worked hard on developing its strategic goals for the next period as well as identifying key projects and programmes. The various component parts of the strategy have gone through a range of consultations with the Council, the membership and other stakeholders. And it was finally considered by the Council at a twoday Strategic Planning Event (SPE) in February.
The strategy is defined by a vision, which is to promote, protect and support solicitors, the rule of law and justice in England and Wales. Beneath that vision are five missions:
l Technology, the practice of law and the experience of consumers;
l Promoting economic growth of legal services with a focus on better regulation;
l Promoting access to justice and the rule of law in the UK and around the world;
l Supporting the profession on all aspects of Environmental, Social and Governance; and
l Championing our profession and the member experience.
TLS wants more solicitors to be involved in our work. The “Get Involved” Programme is its volunteering strategy to achieve that objective.
TLS has consulted solicitors about whether different aspects of those five missions should be a low or high priority. The feedback helps TLS prioritise different aspects of the missions. Part of the strategic planning process has included a consideration of the operating environment by way of a PESTLE analysis (Political, Economic, Social, Technological, Legal and Environmental factors). The legal profession does not operate in a vacuum and therefore a consideration of those factors was highly relevant to the Corporate Strategy 2025-2028.
The purpose of the SPE was to provide a forum for Council members to discuss and debate the new Corporate Strategy. The debates have been engaging, interesting and informative. There were panel sessions on the missions and the underlying goals, of which there are 21. We also reviewed the proposed workstreams supporting those goals, making revisions where appropriate. Flowing down from the Corporate Strategy will be a Business Plan for 2025-2026. Council and the Board will approve the Corporate Strategy in July for launch this November. The profession will be consulted on the Corporate Strategy over the next few months.
“GET INVOLVED” PROGRAMME
TLS wants more solicitors to be involved in our work. The “Get Involved” Programme is its volunteering strategy
to achieve that objective. Historically, members have got involved with TLS via networks, committees and Council. TLS now wishes to extend the opportunities to contribute to TLS’s work in a way which allows to volunteer more flexibly. Part of the means of delivering the programme is the creation of a Members Advisory Forum, which will be an online pool in which members will be able to identify volunteering opportunities such as working groups, panels, and focus groups. Information can be found on the TLS website.
PC FEE
Part of the SPE’s purpose was to approve TLS’s practice fee consultation, which will take place during April and May. After three years of quite high rises, it is anticipated that lower increases will be made over the next three years. Inflation is lower but our reserves are historically high and they will run down to six months over that period. This is good news for our member firms.
BICENTENARY YEAR
This year marks the Law Society’s bicentenary. There will be a programme of events to celebrate this important milestone in the history of the Law Society. There is plenty of information on the Law Society’s website including fascinating information on the history of the Society and important historical legal events.
President of the Law Society, Richard Atkinson, will be attending a bicentenary event in Cambridge on Wednesday 11 June 2025.
SRA
The announcement that the SRA’s CEO Paul Philip will retire from the SRA in the autumn is unsurprising given the judgement of the Axiom Ince report on the SRA’s performance, which was damning. I understand that the content of the report on the SSB collapse is likely to be equally damning.
WHAT IS AN IP STRATEGY AND HOW CAN IT HELP COMPANIES GROW?
Sian Billson Head of Life Sciences, Patents, Stratagem IPM
Awell
-planned Intellectual Property (IP) strategy plays a crucial role in helping innovative companies identify, manage, and align their IP with their business objectives. In doing so, companies can increase the value of their IP and strengthen their commercial position.
WHAT IS AN IP STRATEGY
An IP strategy is a structured plan that outlines how a company will manage and leverage its intellectual property to support business growth. It includes identifying, protecting, and commercialising IP assets, aligning IP with business objectives, and considering third-party rights and risks.
THE ROLE OF IP IN EARLY-STAGE COMPANIES
Early-stage companies are often built on innovative ideas, with seed funding providing the financial support needed for initial development. These earlystage innovative companies are founded on ideas, and these ideas are often protected by registered IP - patents, trade marks and designs and unregistered IPknow-how, trade secrets, and copyright.
Understanding what IP a company owns, or has access to, via licensing is critical. Investors will assess where the company’s value lies, what makes the company’s offering unique and how the company has built on its foundational IP before the next funding round. Building on existing IP assets and demonstrating growth and innovation helps increase investor confidence and company valuation.
A company’s business name is a valuable asset. While registering a trade mark may not be an immediate priority, checking its availability should be. Building a brand only to later discover that the name is too similar to an existing trade mark could result in costly rebranding and lost goodwill. Conducting clearance checks early on ensures that a company’s name is
Innovation is critical to local, national, and global prosperity and sits at the heart of the UK’s growth agenda. In their 2023 strategy report1, Cambridge Innovate outlined their goal for Cambridge to become the number one region globally for active patents per capita by 2035, rising from 13th place in 2023.
legally secure, allowing it to build brand recognition and value with confidence.
PATENT STRATEGY: MORE THAN JUST FILING APPLICATIONS
Many innovative companies originate from a foundational technology, or idea, protected via a patent which is either owned by the company or licensed from a university or research institution. Patents grant exclusive rights to the holder, preventing others from copying the invention. Companies also want to build a portfolio of patents protecting further developments.
However, securing a patent requires careful timing and planning:
MANAGING EARLY-STAGE DISCLOSURES
To obtain a patent, an invention must be novel, meaning it must not have been publicly disclosed before filing, and inventive. Non-confidential disclosures such as investor pitches, discussions with potential hires, website content, marketing materials, publications, press releases and LinkedIn posts should not be made without thinking about patentability.
Sometimes, not filing a patent is a better strategic decision. Patent applications are published after 18 months, disclosing technical details to competitors. In some cases, keeping an invention as a trade secret provides greater commercial advantage than publicly disclosing it through a patent.
A publication strategy should be part of every company’s IP plan.
ONGOING IP EDUCATION & PORTFOLIO GROWTH
As a company scales, new inventions and patentable technologies will emerge. Educating staff on identifying potentially patentable innovations and ensuring regular reviews of the IP
strategy helps capture valuable IP and avoid missed opportunities.
FREEDOM TO OPERATE: UNDERSTANDING THE COMPETITIVE LANDSCAPE
Understanding the competitive IP space is essential for managing legal risks and securing commercial success. A clear path to market requires companies to assess freedom to operate (FTO) at key project milestones, ensuring that thirdparty IP rights do not create obstacles to commercialisation. This proactive approach helps reduce legal and commercial risks, enabling smoother product launches.
Deciding when to conduct an FTO search is key; too early and the product/ process may still be evolving, making the search too broad, and too laterisks may only surface close to launch, potentially leading to costly delays.
Investors and applications for funding often require a company to have a clear understanding of the FTO position before committing to financial support.
CONCLUSION: WHY A STRONG IP STRATEGY IS ESSENTIAL
A structured IP strategy strengthens a company’s position ahead of funding rounds and market entry. Investors will look for:
l A well-developed and growing IP portfolio
l A clear risk management approach
l An IP strategy aligned with commercial growth
Due diligence becomes more rigorous beyond seed funding, and being able to demonstrate an evolving IP portfolio helps increase valuation and credibility. Seeking early advice from a patent attorney ensures that IP is not only protected but strategically leveraged for long-term business success.
1innovate-cambridge-strategy-2023.pdf
ROBERT DILLARSTONE
Last September, I clocked up 40 years at Greenwoods. My time at the firm has literally been my life's work. I came from a very working class background, failed the 11+ and went to a secondary modern school in Peterborough where little was expected academically, and where most of my contemporaries left at 16. I was in a small cohort of a dozen or so who went into sixth form and, of those, only me and two others headed off to university (this was 1980 when only about 7% of the population went to university). I read law at UCL. However, with my background, London was too big a shock to the system for me, so whilst most of my year stayed in London and went to Law College after graduating, I retreated back up north (yes, incredibly, Peterborough was considered the north to many in my year at UCL) and did my Law Society Finals at Nottingham Trent University (then Trent Poly), where I felt far more at home.
Having completed my Law Society Finals, I did what appeared to me at the time to be the most natural thing, which was to return home and start work, having secured Articles at Greenwoods. So, on 3 September 1984, I turned up for my first day as a fresh-faced 22 year-old with a full head of hair. The hair has now all but gone, and I'm around 10 kg heavier than I was then, but other than that, now aged 63, I am still pretty much the same energetic people-person as I was when I first walked through Greenwoods' doors.
Lessons from a lifetime in law
I am a massive history buff, so have had to fight my natural urge to explain at length what that life in a law firm was like in the 1980s (e.g. the ‘tech-iest’ bit of kit was the telex machine - Google it - and where, across the land, an NQ’s day of qualification as a fully-fledged solicitor was celebrated with them being given their own secretary and company car – I kid you not). A history lesson would interest some but not many, so I will move on.
I knew very early on during my articles what I wanted to do and what I didn't want to do. It has always been people, rather than things, that interest me. I knew that I was never going to join the ranks of corporate or property lawyers, and was always going to end up dealing with people and people-related issues. As it transpired, qualifying in 1986 coincided with the huge growth in employment law and so, in the summer of 1990, and having qualified into a general litigation team, I became Greenwoods' first employment lawyer. At the time, employment lawyers were a rarity and most firms didn't have one or, if they did, they had just one (think data privacy lawyers in today's legal market - it's similar).
With the help of my colleagues, including notably John Macaulay (my first recruit and who succeeded me as our Head of Employment), we set about building an enviable employment practice, which remains the case today (last year employment law accounted for a quarter of Greenwoods’ revenue).
In May 2009, I became our Managing Partner. Looking back, I had no real idea what the role involved nor what I was letting myself in for. However, I can look back now and say that my decision to accept the role has been one of the best of my career. I took the decision about 12 years ago to stop doing client work. It’s a trite saying, but this decision allowed me to work on the business rather than in the business. That decision has over the years turned Greenwoods into a very unusual – if not unique – firm in the marketplace in terms of how we run and organise ourselves. Since making these decisions, we opened in both Cambridge and London, and have grown significantly as a firm as a result. I no longer
consider myself a lawyer and describe myself a businessman who knows the law.
So, after 40 years, what lessons have I learned and what do I want to impart to the next generation of young and wouldbe lawyers? Before I focus on one in particular, some lessons have been said many times and are both true and wise, so I will mention two briefly now – show respect to people (including of course to lawyers on the other side of a transaction or dispute), and put a shift in. As a baby boomer, working hard was just what was expected. I am conscious that times have now changed, but no one can expect to reach their full potential without sustained hard graft.
I KNEW THAT I WAS NEVER GOING TO JOIN THE RANKS OF CORPORATE OR PROPERTY LAWYERS, AND WAS ALWAYS GOING TO END UP DEALING WITH PEOPLE AND PEOPLERELATED ISSUES.
However, the one learning which I will single out for the purposes of this article is to embrace change. Law and lawyers have been around since time began. As a general rule, lawyers do not adopt, or adapt to, change easily or quickly – ‘fastpaced’ and ‘agile’ are not words which often apply to lawyers and the legal sector when faced with, or adopting, change.
Stories from the corporate world of being in a pre-eminent position and then losing it through an inability to change are many and well known. Think Nokia, Woolworths, Blockbuster and Kodak to name but a few –all market leaders in their time. In terms of current examples, think about the change that John Lewis and the BBC are currently having to grapple with.
The law is no different. The sector I joined consisted of letters, phone calls and physical meetings. Then the Internet arrived and so did emails and, during Covid, Teams meetings. The degree of change involved
was huge. I resolved early in my career not to become a dinosaur, but to grasp and engage with change as it came along.
Young lawyers today face the same challenges about change, and I mention in particular two areas of change, firstly the structural changes that are now occurring in the sector and secondly – and inevitably – AI.
Many people reading this article will be in traditional partnerships, some of which will be very large. Their origins may date back to the 19th century or even before, and they may think that they will carry on this way for another 100–200 years. However, there is a structural revolution currently taking place in our sector and every firm, big or small, needs to engage with it and potentially change. Although the largest firms (including my own) remain LLPs, a majority of law firms in the UK by number are now limited companies and are owned, and invested in, in many different ways. In part, this is being driven by the increased level of capital expenditure now needed to run law firms. As a result, the traditional partnership model is less attractive to many. I am intrigued and excited to know what the sector will look like in 10 years’ time. Lawyers and firms who ignore this current revolution do so at their peril.
And then there is AI. Enough said. Over time, it will change fundamentally the way in which legal services are delivered. Young lawyers embarking on their legal careers currently have a fantastic opportunity to engage with this seismic change during its infancy and, again, law firms who ignore it to so at their peril.
So, whatever stage you are at in your legal career, don't be a dinosaur – embrace change.
Legal Excellence Awards 2025
KING’S COLLEGE, CAMBRIDGE, THURSDAY 27 MARCH 2025
Platinum Sponsor
DRINKS RECEPTION: 6.30pm
DINNER: 7.30pm
CARRIAGES: 1.00am
DRESS CODE: BLACK TIE
The Menu
Prosecco, Elusia, Extra Dry
Non-alcoholic
Cranberry Ginger Fizz and water
Starter
Guinea fowl, mushroom and chicken terrine, port, artichokes, chicory
Dolcelatte blue cheese panna cotta, grilled pear, pain d’épices bread, walnuts
Main
Slow cooked pork cheek & belly, sage mash, vichy cider carrots, kale, apple compote
Celeriac, kale & lentil pithivier, red cabbage, broccoli gratin, Madeira sauce
Dessert
Deconstructed Mont Blanc – Chocolate sponge, white chocolate créme, chestnut purée, oat crumble, chestnut tuile, vanilla meringue
Wine
White - Funkstille, Grüner Veltliner, 2022 (Austria)
Red - Baron De Badassière, Carignan, Cotes De Thau, 2020, (France)
Non-alcoholic
Sparkling Elderflower and water
At Rathbones Cambridge, we are delighted to continue supporting the work of the Cambridgeshire Law Society (CLS) as platinum sponsor of the awards dinner. Our office here opened in 2001, and the team work closely with many member firms of CLS, providing personal wealth management to private clients, including tax and pension planning and managing investments in bespoke strategies.
Charity raffle in aid of the Red Hen Project Raffle Tickets £10 for a strip of 5 Pay by cash, card or scan the QR code
Terms and conditions apply
The Raffle Prizes
Prize Draw £300
John Lewis Voucher Cambridgeshire Law Society
Half a Case of Birketts LLP
Ayala Champagne
£150 John Lewis Voucher FM Family Law
£100 CambsCuisine Voucher EBCam
£100 PAUS. Voucher Ensors
Flint Vineyards Charmat The Clarke Edward Sparkling Rose Gift Box Partnership
Fortnum and Mason Errington Legal Spring Hamper
Case of Fine Wine HCR Hewitsons
Magnum of Rathbones
Chapel Down Wine
Marks and Spencer Hamper Woodfines
Norfolk Gin Ashtons Legal LLP
Hamper of Cadburys FHM Forensic Accounting Easter Eggs
As part of the team that opened the office in 2001, and subsequently heading it up since 2015, I was enthusiastic about the opportunity to support the Law Society to meet our aim of being collaborative with our professional partners. A great deal has changed in the last 10 years within the Cambridge business landscape, and the energy Michael Frape has injected into the Society makes it a more vibrant community. At Rathbones we are proud to have been part of that journey, engaged with your members and doing the right thing for our clients.
My growing team has a focus on being responsible and entrepreneurial in building enduring value for the trusted partners we work with. Through all we do, with the client at the very centre, we endeavour to be professional and high performing in all our actions as a wealth manager.
Mark Winchester, Head of Cambridge, Rathbones
CHARITY PARTNER
Legal Excellence Awards 2025 SPONSORS
Barclays are delighted to be sponsoring The Cambridgeshire Legal Excellence Awards for another year. Graham Martin, Professionals Relationship Director, at Barclays Corporate Banking for over 20 years, has supported the awards for several years. “It’s a great evening to acknowledge and celebrate the achievements of Individuals and Firms. The Professionals sector continues to be a key industry focus, with strong long-standing relationships across the sector.” says Graham.
We wish all Nominee’s the best of luck on the night, for what will again be a memorable evening of celebrations.
Supporting businesses turning over £6.5m pa, Barclays Corporate Banking has the banking excellence you’d expect with the data and insights you don’t.
We look beyond banking to help you see what really matters. Through our dedicated sector and regional specialists.
We can provide you with innovative financing solutions that help you achieve
At Appleyard Lees, we are proud to sponsor the Equality, Diversity & Inclusion Initiative of the Year award, which recognizes the outstanding contributions of individuals, teams, and firms pioneering efforts in EDI within the legal sector. Our firm is committed to fostering an inclusive culture and we believe that true innovation is driven by diverse perspectives, and that inclusivity fuels creativity and growth.
a more expansive, better-connected future for your business. See things differently with Big Picture Banking at Barclays.
Visit barclayscorporate.com
As a leading intellectual property law firm, Appleyard Lees serves a wide variety of clients, from global corporations to start-ups. Our own commitment to inclusion is reflected in the diverse team we’ve built, where each individual is valued for their unique skills and background. We recognise that a strong, diverse workforce is key to delivering the best client service and we continue to strive for progress in this area through mentorship programs, outreach initiatives, and a culture of support.
We are honoured to support and celebrate the efforts of those making a tangible impact in advancing EDI in the legal field.
Legal Excellence Awards 2025 SPONSORS
We are delighted to support the Legal Excellence Awards for another year, it is a fantastic event showcasing the best legal talent in Cambridgeshire. It is a great opportunity for the legal community to come together.
Our roots are in Cambridge, we work for both private practice firms and businesses at different stages of their corporate life cycle looking to hire an in-house lawyer.
The values of the CLS are very much aligned with ours and we enjoy supporting the society all year round at various events and seminars that benefit the local legal community. We also fully support and welcome the societies focus on the importance of diversity and inclusion.
For over 12 years Errington Legal has been assisting national and international law firms and businesses to grow and achieve their goals by introducing leading lawyers and legal professionals.
FM Family Law is thrilled to be a sponsor of Cambridge Law Society’s 2025 Legal Excellence Awards - a night to celebrate the best of the legal community in Cambridge and the highlight of the year for our professional community.
As one of the youngest law firms in Cambridge, we are particularly happy to be sponsoring the prestigious award for ‘Lifetime Achievement’ which celebrates the experience, dedication and talents of one member who has set the bar high for excellence and made an enduring impact in their legal field and in our community.
At the heart of these awards is ‘Legal Excellence’. As the boutique divorce and family law firm in Cambridge, FM Family Law is proud to be associated with the ongoing drive for excellence and to be part of the incredible legal community in Cambridge - one that is so rich in history, diverse in talent and specialisms and so vibrant and dynamic in its future.
EBCam Ltd is a trusted expert in employee benefits and independent financial advice, based in Cambridge, UK.
Our process begins with listening - taking the time to understand our clients’ needs, goals, and preferences before providing tailored recommendations. As a fully independent firm, we are not affiliated with any provider, giving us the freedom to explore the entire market and deliver the best solutions for our clients.
Our Corporate Employee Benefits team helps companies navigate a wide range of pension and employee benefit options, from private medical insurance to comprehensive flexible benefits finding best value and aiding in the communication to employees. Within our Financial Planning team, we assist individuals
in achieving their personal financial goals and aspirations, empowering them to build a strong financial future.
This marks the 3rd year of our sponsorship, and it is always a pleasure to celebrate the incredible talent in and around Cambridge at this enjoyable event.
Legal Excellence Awards 2025 SPONSORS
Handelsbanken offers a wide range of banking products and services for Corporate and Private customers.
Our award winning service offering is based on having a dedicated Cambridge based team of account managers and support team who take a long term approach to relationships with our customers and local professionals.
Decision making is delegated to the local office which includes 95% of lending decisions, as well as pricing and all aspects of management,
Established in 1938 and led by a team of 44 partners, Price Bailey is an award-winning accountancy practice, whose growth is accredited to the quality, tailored services it provides its clients. Price Bailey operates across 12 offices throughout London, East Anglia and internationally.
In addition to traditional accounting services, Price Bailey has a range of specialist expertise including corporate finance, tax consultancy, and strategic planning which provide a comprehensive business offering. Price Bailey’s first-rate personable service, creates strong relationships and helps great businesses and individuals alike. The firm’s diverse industry knowledge enables it to deliver sector-specific insights that drive value for clients in their respective fields.
Price Bailey is proud to sponsor the 'Litigation Team of the Year' award at the 2025 Legal Excellence Awards and would like to recognise the active and dynamic litigation landscape throughout the region.
Price Bailey congratulates all the nominees for their dedication to achieving excellence in the legal profession.
adapting strategy to suit the local market place. Handelsbanken have supported CLS for some years and we are delighted to sponsor the Property Law Team Award, as a bank that works closely with property lawyers across the region, we know the value of having a strong legal partner. Those who go above and beyond deserve to be recognised.
LHH is an award-winning, recruitment and executive search consultancy. We’ve appeared in the Sunday Times '100 Best Companies to Work For' for four consecutive years.
From our Cambridge office, we work across the legal sector supporting both the In-House and Private Practice markets.
LHH offers an end-to-end solution to support both clients and candidates as a trusted recruitment partner. We aim to uphold our vision of offering a quality consultative service, with a focus on high levels of customer service and building long-term relationships around mutual trust and understanding throughout the recruitment process.
LHH is delighted to have supported the Cambridgeshire Law Society and Legal Excellence Awards for the past five years, celebrating the outstanding talent and achievements within the region’s legal community. This year, we are honoured to present the In-House Team of the Year Award, recognising the crucial role that in-house legal teams play in driving success and innovation. At LHH, we are passionate about championing excellence in the Cambridgeshire legal market, and we look forward to celebrating the dedication, expertise, and impact of legal professionals across the region.
Chris Ewles Senior Business Manager chris.ewles@LHH.com
07902 701 818
Legal Excellence Awards 2025 SPONSORS
Birketts proudly sponsors the Cambridgeshire Legal Excellence Awards in recognition of the valuable contribution the county’s legal sector makes to the region.
With a heritage spanning 160 years, we have more than 700 lawyers and legal professionals based in Bristol, Cambridge, Chelmsford, Ipswich, London, Norwich and Sevenoaks. We advise businesses, government and public sector organisations and individuals in the UK and internationally across multiple sectors.
We have deep sector expertise, spanning agribusiness; charities, not-for-profit and ecclesiastical; education; energy and infrastructure; financial institutions; food and beverages; healthcare; hospitality, leisure and retail; housebuilders; motor; private wealth; public sector; shipping, logistics and trade; social housing; and technology. With our ambition to succeed comes a strong desire to make a positive contribution to the communities we serve. Diversity plays an integral part in all that we do, with female partners comprising 41% of our partnership, up 14% since 2020, with ambitions to increase this to 45% by 2026 and 50% by 2030.
www.birketts.co.uk/
Maximising Marketing Success With ReviewSolicitors
ReviewSolicitors empowers law firms to showcase their feedback to help them stand out in a competitive market.
Reviews can even become part of your firm’s marketing strategy:
1. Google’s search engine is influenced by recent activity and relevant information. Previous clients may leave a review stating that you’re an ‘amazing family law solicitor’, which is what another client may search
BPP University Law School is delighted to be sponsoring the Cambridge Law Society Legal Excellence Awards: Trainee of the Year
We are aware of the challenges faced by the next generation of solicitors in a post-pandemic world – not just in relation to the SQE centralised assessments, but also because of a rapidly changing workplace and profession. So, any trainee who was nominated for this award should be congratulated and take it as a huge vote of confidence in themselves as future lawyers. As a leading law school with SQE pass rates 20% above the national pass rate, we pride ourselves in the quality of the training and careers advice which we offer future solicitors. The winner will have displayed a similar level of excellence – in securing their training contract, in standing out against the competition for this award, and, ultimately, to have created such an impression in the local legal community that they have been deemed a worthy winner.
BPP University runs Law Conversion, SQE and BTC programmes at its centres in Cambridge, London, Birmingham, Bristol, Leeds, Manchester and online.
for! Reviews therefore improve your firm’s SEO and online visibility.
2. Ensure that your firm acknowledges and responds to both positive and negative reviews; address any concerns, and show that you care about your clients' experiences.
3. Incorporate great reviews on social media effectively - highlight exceptional client reviews to celebrate outstanding service. Post them on Linkedin, X, and Facebookanywhere that a client may find you.
ReviewSolicitors shares great reviews on social media, you should too!
To find out more about ReviewSolicitors, contact Adam Today.
adam.hall@reviewsolicitors.com www.reviewsolicitors.co.uk/
Legal Excellence Awards 2025 SPONSORS
We are delighted to be sponsoring the 'Outstanding Support Staff Member of the Year' award in partnership with the Cambridgeshire Law Society.
At Ensors, we deeply value the role that support staff play in the success of any organisation, particularly within the legal and accounting professions. While much of the focus often goes to the fee earners, these unsung heroes behind the scenes are critical to ensuring smooth dayto-day operations and excellent client care.
This award is an opportunity to recognize those who consistently go above and beyond, showing exceptional skill, dedication, and commitment to excellence in their roles.
It is an honour to sponsor an award that not only celebrates individual achievement but also underscores the importance of teamwork, professionalism, and the essential contributions that support staff make to the legal industry. We look forward to celebrating this year's winner and continuing to support the fantastic work being done by these invaluable team members.”
HCR Hewitsons is an awardwinning, full-service Top 60 UK law firm with over 850 staff across ten locations. The firm provides a comprehensive range of legal services to organisations, business leaders and individuals.
Our nationally renowned sector teams combine industry insight and expertise, providing marketleading legal services across various disciplines to clients in Cambridgeshire and across England and Wales. We support local businesses, communities and charities, having organised and taken part in numerous initiatives. Our innovative Impact55 supports start-ups and our Chariots of Fire event has raised over
Fenners is proud to sponsor the ‘rising star’ award this year as we believe in the importance of a strong local legal community and encouraging growth from the bottom to the top.
£1.5m for local charities since 1992.
A cornerstone of our ethos is our Passion for People, which informs everything we do. That’s why we’re sponsoring the Senior Lawyer of the Year award, recognising the significant contribution senior lawyers bring. This includes their legal knowledge, mentoring and training, as well as the strong client relationships they build and maintain. We believe this is something which should be recognised and celebrated.
Counsel at Fenners not only accept traditional instructions from solicitors but, since 2004, can now be instructed directly under the Direct Access scheme. In addition, Chambers offers a dedicated ADR service including Private FDRs and Early Neutral Evaluation alongside more traditional mediation and arbitration.
AT ENSORS, WE DEEPLY VALUE THE ROLE THAT SUPPORT STAFF PLAY IN THE SUCCESS OF ANY ORGANISATION, PARTICULARLY WITHIN THE LEGAL AND ACCOUNTING PROFESSIONS.
Fenners Chambers was founded in 1973 with six barristers. 52 years later, Fenners has 56 barristers practising from the “Stone House” at 3 Madingley Road in Cambridge. Fenners is ranked as a leading set in both the Legal 500 and Chambers UK and has specialist Counsel in all legal areas including family, crime, property, commercial probate, personal injury, employment, employment and public law.
Fenners Chambers is run by a dedicated and experienced clerking team headed up by Paul Green who has more than 40 years’ experience as a senior clerk.
FENNERS IS RANKED AS A LEADING SET IN BOTH THE LEGAL 500 AND CHAMBERS UK
The President’s Nominated Charity
The Red Hen Project: Empowering Families, Transforming Local Children’s Lives
Sarah Crick, CEO, The Red Hen Project
Raising a child is one of life’s greatest joys, but also one of its toughest challenges. For many families, it’s a constant balancing act – ensuring children have food on the table, a warm home, and the emotional support they need to thrive. But what happens when that balance is impossible to maintain? When crisis strikes, and there is no safety net?
For too many families we support, this is the reality. Cambridge is the most unequal city in England, with an 11-year gap in life expectancy between areas like Newnham and the communities we serve. In a city known for its worldclass education and innovation, there are families struggling to afford school shoes, put meals on the table, or even keep a roof over their heads. The contrast is stark.
That’s where The Red Hen Project steps in. We are more than just a charity – we are a support system, an advocate, and a source of hope for families in crisis. We work with families facing poverty, housing instability, mental health struggles, and domestic violence, offering not just immediate relief but the tools to build a brighter future.
Our skilled family workers visit families in their homes, offering practical help tailored to their unique circumstances. Whether it’s navigating complex housing issues, ensuring children have access to education, or connecting parents with mental health resources, we stand beside them every step of the way. We don’t just provide help in the moment – we empower families to regain control and confidence, breaking free from cycles of hardship and trauma.
Take, for example, a mother we recently worked with. She had fled domestic violence with her young children, finding herself alone, without support, and struggling to cope. Her children were anxious, their school attendance was slipping, and she felt trapped. Through one-on-one support,
we helped her access safe housing, secured food and essential supplies, and worked with the school to ensure her children had the support they needed. More than that, we gave her the confidence to rebuild her life. Today, her children are thriving in school, and she has started a new job.
Stories like hers are why we do what we do. Because when we help parents, we help children. We create stability, build resilience, and give families the chance to look to the future with hope rather than fear.
But we can’t do it alone. We rely on the generosity of people like you. Every donation, every act of support, fuels our ability to make a difference. Your contribution doesn’t just fund services – it changes lives. It keeps a child in school, ensures a struggling parent gets the mental health support they need, and helps families move from merely surviving to truly thriving.
Imagine being in a situation where you feel completely alone, with no idea where to turn. Now imagine someone stepping in, offering not just immediate help but the guidance and belief that things can get better. That’s what your support enables us to do.
If you believe that every child deserves a safe, stable, and happy childhood, we urge you to take action. Whether through a donation, volunteering, or simply spreading the word, you can be part of the change.
Together, we can close the gap. We can ensure that every child, no matter their circumstances, has the support they need to build a brighter future.
To learn more, donate, or get involved, visit www.redhenproject.org or contact
jen@redhenproject.org
Stamp Duty Land Tax Deadline: Why Ordering Conveyancing Searches Early is Crucial
With the 1st April 2025 changes to Stamp Duty Land Tax (SDLT) fast approaching, conveyancers are bracing for a surge in property transactions. Historically, SDLT amendments have triggered a sharp increase in market activity as homebuyers rush to complete before new rates take effect. Ensuring transactions progress efficiently will be key for conveyancers to manage client expectations and maintain service standards.
One of the most significant risks in this period is the potential for bottlenecks in the search process, leading to avoidable delays. By proactively ordering searches early, conveyancers can reduce risks, manage caseloads effectively, and protect transaction timelines.
Why timing matters
Property searches, including the CON29DW, local authority checks, and environmental risk analysis, are essential components of due diligence in conveyancing.
As demand spikes, search turnaround times can be affected, particularly for more complex cases requiring additional investigation.
Proactive search ordering: the key to risk management
A structured approach to search ordering can greatly reduce transaction uncertainty. By securing conveyancing searches early, conveyancers can:
✓ Maintain transaction momentum – conducting searches early helps identify issues that could otherwise stall the process closer to the SDLT deadline.
✓ Avoid unnecessary risk – delays in obtaining search results can leave less time to resolve concerns.
✓ Enhance client confidence – proactive case management reassures buyers, reinforcing a conveyancer's role as a trusted adviser.
Nicholas Hill, Customer Service Manager at Geodesys, highlights the importance of preparation:
"Search turnaround times are a critical consideration in conveyancing. However, as key deadlines draw near, the likelihood of delays can rise. We recommend that conveyancers communicate with their search provider
ensuring the correct searches are ordered for their transactions. This approach helps protect homebuyers from unexpected setbacks and facilitates a smoother process."
How Geodesys supports conveyancers during peak demand
With nearly 30 years of experience in the land and property search market. Our efficient processes, expert account managers, dedicated in-house customer support and reliable turnaround times make ordering searches straightforward and stress-free.
We’re also proud to be the home of the CON29DW in the Anglian Water region, offering some of the fastest turnaround times in the industry. In January our average turnaround time for a CON29DW was just 8 hours. This means you can trust us to deliver the information you need, when you need it, helping transactions move forward smoothly.
Plan ahead to stay ahead
With the SDLT deadline fast approaching, conveyancers must balance rising workloads with maintaining efficiency. Securing searches early is a simple yet effective way to reduce the risk of last-minute delays, helping transactions progress smoothly even under heightened pressure. By leveraging the expertise and efficiency of a trusted search provider, solicitors can navigate the SDLT changes with confidence.
Order your searches with Geodesys today and stay one step ahead of the 1st April changes.
For more information on how Geodesys can support your conveyancing needs, visit www.geodesys.com
LAW SOCIETY SLAMS SRA PROPOSALS TO REMOVE CLIENT ACCOUNTS
The Law Society of England and Wales has today warned against the Solicitors Regulation Authority’s (SRA) proposal to move away from client accounts to third-party managed accounts. This forms part of the Law Society’s response to the SRA’s consultation on client money in legal services, which was launched following the collapse of the firm of Axiom Ince.
The consultation is in three parts and considers possible changes to how solicitors hold client money, how client money is handled, and issues surrounding the SRA Compensation Fund.
Law Society president Richard Atkinson said: “Our members remain strongly opposed to any changes to client accounts which have been used for decades by law firms with millions of successful transactions conducted each year.
“They are fundamental to the efficient and effective delivery of most legal services. Both the client account and Compensation Fund are crucial
safeguards for the consumer whose losses might otherwise go unaddressed. Furthermore, the Compensation Fund is unique to solicitors, differentiating the profession from unregulated providers of legal services.
“Proportionate safeguards might mitigate risks to consumers, however, restricting or banning law firms’ ability to hold client funds would significantly damage the quality of services provided to the public.
“Removing client accounts may have huge ramifications for the quality of legal services including higher costs, delays and reduced access to justice.
“The SRA’s analysis of the perceived problems lacks evidence to support the radical reforms that the consultation proposes, and the changes suggested fail to address key practical difficulties.
“Shifting to third-party managed accounts would not eliminate the risk of fraud or cybercrime. Solicitors
would still need to conduct extensive money laundering checks under AML regulations and could face criminal prosecution for failing to do so.”
The Law Society urged the SRA to instead focus on improving its processes for identifying, monitoring and managing potential risks to consumers. It has also recommended the SRA reintroduce mandatory annual accountant’s reports, strengthen their authorisation processes, and increase their scrutiny of non-legal personnel.
Law Society president Richard Atkinson rejected the SRA’s proposed change to the Compensation Fund contributions from a 50:50 split to 70:30 for individuals and firms respectively in 2025-26.
“The existing arrangements for the Compensation Fund, imperfect as they may be, should be maintained until the SRA has properly considered the alternatives and has evidence to demonstrate that they would be better than the status quo.”
A FUNDAMENTALLY DISHONEST CLAIMANT
SUMMARY
This case concerns a fundamentally dishonest claimant. The judge held that the experts in the case were reliant on self-reporting by the claimant, who the judge found to be wholly unreliable, as to the extent to which the alleged injuries suffered had impacted her life.
LEARNING POINTS
Learning points for experts:
l The medical and psychological experts in a personal injury case will often need to rely largely on the selfreport of the claimant,
l If an expert’s report is built on a false factual basis (e.g. the client is found to be wholly unreliable), the expert evidence can be rejected
l Consequently, the credibility of the injured person is of central importance.
Learning points for instructing parties:
l The rule determined by the Supreme Court on uncontroverted evidence in Tui v Griffiths does not apply in certain circumstances. Seven circumstances are cited in the judgment including where the report is founded on a false basis.
THE CASE
The claimant was seeking damages for soft tissue and psychological injuries she claimed to have suffered while a passenger in 3 separate car accidents between 2015 and 2016. She also claimed to have suffered tinnitus as a result of the second and third accidents.
EXPERT EVIDENCE IN GENERAL
The judge noted that these types of soft tissue and psychological injuries are rarely susceptible to objective proof, and that a medical expert must instead rely almost exclusively on examination and the history provided by the apparently injured party. As Mr Justice Martin Spenser had noted in Molodi v CVMS [2018]EWHC 1288 (QB) if the history is not materially accurate, then the medical opinion expressed must be unreliable.
Key to any history is the impact of the injury on the person’s life, with an injury that prevents or limits pursuit of a loved pastime likely to be seen as more serious that one that does not. Therefore, the judge noted, the credibility of the apparently injured person is of central importance. The
judge noted that the factors referred to by Mr Justice Spenser in Molodi as likely to be present in a genuine claim, concern credibility, including: seeking medical assistance and acting in accordance with medical advice.
THE EXPERT EVIDENCE IN THE CASE
The claimant instructed Mr Farhan, who dealt with shoulder and back issues, and Dr Whittington, who dealt with the psychological injury. She also saw experts in tinnitus and rheumatology, and a pain consultant.
Mr Farham found some generalised restriction of the claimant’s cervical spine and, based on the claimant’s accounts of the psychological impact, referred to her a psychologist after concluding that the psychological reactions to the accident overshadowed her physical injuries.
Dr Whittington diagnosed mixed anxiety and depressive disorder (‘MADD’), body dysmorphic disorder (‘BDD) and bulimia, attributing them to the accident. He relied on the claimant’s account that before the accident she had “attended the gym 6 times per week, twice daily and regularly competed in fitness events” but after the accident “she was unable to exercise”.
The experts did not provide oral evidence.
THE CLAIMANT’S EVIDENCE
The claimant had held a number of roles in legal firms. In crossexamination, the claimant accepted that in her Linkedin profile and CV she held herself out to be far more qualified than she actually was, leading her, the judge determined, to preemptively resign from a role ahead of a disciplinary meeting about her qualifications.
The judge determined that the claimant was “a wholly unreliable witness who gave evidence without any regard for the truth guided only by what she perceived to be her own interests. She made things up when asked difficult questions and on occasion gave patently false answers.”
DOCUMENTARY EVIDENCE
The court considered documentary evidence on the number of times the
claimant accessed the gym after the accidents and Facebook posts showing that she had competed in several strenuous runs and hikes in 2017 and 2018, which were inconsistent with the self-reporting of the impact of her life.
FINDINGS OF FACT
The judge made several findings of fact including:
l The Claimant deliberately lied about her academic achievements on her CV and Linkedin profile.
l She deliberately lied about her professional status.
l She made up a story about being effectively blackmailed by a witness in the case who she maintained had threatened to share an intimate video of the 2 of them with the Claimant’s long-term boyfriend.
l She deliberately failed to give Dr Whittington the full story of her recovery from any injury sustained in the accidents by failing to mention the fact that she had completed an ascent of Ben Nevis and the Yorkshire 3 Peaks.
l The claimant is a generally dishonest person.
TUI v GRIFFITHS
Counsel for the claimant submitted that the defendant’s had to “undermine the factual substratum of the claimant’s uncontroverted evidence” and that the points ought to have been raised in questions to experts.
The Supreme Court held in Tui v Griffiths [2023] UKSC 48 that generally, if a conclusion expressed in an expert report was to be challenged, the expert should be given an opportunity to respond to the challenge. However, this rule would not apply in certain circumstances including where the report is founded on a false basis.
The judge found that he was entitled to reject the expert evidence in this case because it was built on a false factual basis, i.e. the claimant’s untrue history.
FINDINGS IN RESPECT OF INJURIES SUFFERED
The judge dismissed all parts of each claim, rejecting the claimants account of the injuries in its entirety as the entire case was based on her credibility.
USER SEAN MOSBY
BUSINESS VALUATION MYTHS: WHAT LAWYERS REALLY MUST KNOW ABOUT BUSINESS VALUATION
At FHM Forensic Accountants we are engaged to value businesses of all shapes and sizes. Formal business valuation reports may be required in financial disputes and matrimonial matters. They are also obtained by business owners to assist in strategic and succession planning and for tax planning. Typically we undertake 50 to 60 business valuations each year and in addition are instructed to critique valuations prepared by accountants and other experts.
In this article we seek to debunk common myths about business valuation and to share insight on the key drivers of business value.
❚ MYTH 1: BUSINESSES ARE WORTH A MULTIPLE OF PROFIT
I There are a number of reasons why a business cannot be valued simply by applying a multiple to the profit including:
• Two businesses generating the same profits may have very different asset bases eg cash reserves, property ownership, debt etc
• Two businesses may be reporting the same profits but have very different prospects for future trading
• Reported profit can be manipulated and before applying a multiple the valuer must assess the appropriate measurement of profit
• Businesses may report losses and yet still have a value
• The buyer of a business is not paying for historical profits, they are motivated by their assessment of future cash flows
❚ MYTH 2: BUSINESS VALUE IS DETERMINED BY REVENUE
A common myth amongst entrepreneurs is that a business’s value is determined by applying a multiple to revenue. Revenue is a factor but two businesses generating the same turnover may have very different values. Valuation considers the profit generated from turnover, the cashflows, sustainability of the trading performance and the potential for future growth.
There are certain businesses such as accountancy practices, law firms and opticians where a multiple of turnover may be a starting point in a valuation by a consolidator who is looking to bolt-on revenue.
❚ MYTH 3:BUSINESS BUYERS PAY FOR GREAT POTENTIAL
Business owners can make wild claims about the great potential of their business. Unfortunately business buyers are highly sceptical about such claims. The obvious next questions is why the seller is not exploiting that potential themselves. Business potential is relevant in marketing your business but it is unlikely to result in a premium price.
❚ MYTH 4:THERE IS A FIXED FIGURE FOR THE VALUE OF A BUSINESS
Business owners often expect the business value to be a concrete figure. In reality valuation is subjective and dynamic. The valuer will set out the purpose of their valuation, the methodology and the assumptions they have used. The value given is a snapshot at a point in time. Regular updates to business valuations are needed whether the valuation is for
litigation or commercial planning.
❚ MYTH 5:VALUATION IS JUST ABOUT THE NUMBERS
Whilst robust financial analysis is key to the valuation process, we also consider qualitative matters such as intellectual property, the management team, customer loyalty and business pipeline.
❚ MYTH 6:START-UPS CAN’T BE VALUED
Valuing start-up businesses is complex and particularly subjective but there are a number of appropriate methodologies that be adopted. When valuing businesses such as start-ups it may be appropriate to adopt more than one methodology.
❚ MYTH7: A COMPANY WITH NO ASSETS HAS NO VALUE
A company with minimal net assets (or even net liabilities) on the balance sheet may indicate minimal market value. However there are also situations where companies with minimal net assets have substantial value. It is possible a business is generating significant profits for the business owners but these are extracted each year so the retained reserves are minimal. The valuation will be based on the expected future maintainable profits for the owners.
❚ MYTH 8: A 25% SHAREHOLDING IS WORTH 25% OF THE VALUE OF THE
WHOLE BUSINESS
In terms of business valuation, a quarter of the cake is not necessarily worth a quarter of the whole cake.
The concept of the minority discount comes up regularly in the valuation of private companies including in divorce cases and shareholder disputes. When valuing shareholdings of less than 50%, the application of a minority discount can have a very significant impact on the valuation.
For example, say the valuation of the mythical company Fruit Cake Ltd is £10 million. Mr Raisin, a shareholder, has a 25% shareholding and so it might be assumed that his 25% shareholding is worth £2.5 million. However, if a minority discount is applied - and adopting the figures in the ACCA Technical Guidance 167 - a discount of 45% to 55% may be applied. For example, using a 50% discount reduces the value of Mr Raisin’s shareholding from £2.5 million to £1.25 million. A minority discount reflects the probable reduction in the value of a minority shareholding due to the lack of control (influence) and marketability.
❚ MYTH 9:A BUSINESS BROKER CAN PROVIDE A RELIABLE VALUATION
Business owners are frequently offered free market appraisals of their business. Such valuations are prepared with the objective of convincing you to appoint them to sell your business. Typically the valuations are not prepared with the requisite level of financial analysis and scrutiny. Business owners who require a market appraisal should invest some time and money in engaging an independent business valuer.
❚ MYTH 10:WHY ARE WE DEBUNKING THE MYTHS?
Inaccurate valuations and flawed valuation methodologies lead to unrealistic expectations, poor strategic planning and protracted disputes. Business owners should view business valuation as a key tool in managing their business and maximizing shareholder wealth. CONTACT DETAILS fiona@fhmforensic.co.uk +44 (0)7770 642491 www.fhmforensic.co.uk
ONLINE WILLS MORE LIKELY TO INCLUDE A CHARITABLE GIFT
Legacy Futures has released key findings from its 2024 research into online wills. The study, conducted as part of Legacy Futures’ Digital Legacy Insights programme, looked at online wills from a consumer perspective to shed light on the motivations and behaviours of those choosing to create wills online, as well as the role charities play in the space.
Almost one in ten wills made are now made online, a figure that is set to grow over the next few years as online channels become increasingly viewed as a more convenient and affordable way to make a will. For a large number of charities, online wills are being used to attract and engage would-be donors, providing an effective, scalable and measurable way to generate legacy gifts.
The research brought to light opportunities and challenges associated with the increasing popularity of online wills.
KEY FINDINGS
Nearly one in ten (9% of) people who have created a will have done so online, and one in five who have yet to make a will plan to do so online.
Wills made online are more likely to include a charitable gift.
Online will makers are more likely to be younger, have a higher household income, be working, single and have children than the average will maker; however, a significant proportion are aged 65+.
Charities’ association with online will providers and products lend credibility and trust, serving to endorse them.
KEY CHALLENGES
Confusion exists around the role of the charity in the online will making process, with some people unsure whether they are ‘supporting’ the charity just by using the service, or believing the service is part of the charity’s provision.
Many consumers assume that all online will products are broadly the same. When carrying out research
to decide which provider to use, their focus is more likely to be on ensuring the company is reputable and that the process of making the will is smooth rather than the finer details and terms and conditions of the individual product and whether it fits their requirements and circumstances.
The research also found that a consumer’s journey to making an online will is not linear; long time lags were reported between the initial consideration (to leave a legacy gift) and the action (to commit to the gift in a will).
As consumers go through the online will making process, moving from consideration to execution, the visibility of the charity often reduces, with the online will provider becoming more prominent.
Anna Turner, head of research and insight at Legacy Futures, said:
“These findings provide valuable insight into how consumers are using online wills and highlight their growing significance in legacy fundraising. As more people opt for digital will creation and providers enhance their offerings, this trend is set to continue, shaping the future of charitable giving through online wills. This is potentially very exciting for charities, for whom the trend presents further opportunities to garner legacy supporters.
“With younger people being increasingly digital first and more likely to turn to the internet for advice and conduct their financial affairs
online, it is likely that a significant proportion of new people entering the will making market will gravitate towards an online option.”
CONSIDERATIONS FOR CHARITIES
The research flagged areas for charities to be aware of when forming online will partnerships and promoting this service.
Clarity and transparency: charities need to be clear about their offering, why they are offering it and their role in the process, so consumers understand their motivations and how to support them. Optimising the potential for gifts: given that online wills are attracting a larger proportion of younger consumers, charities need to consider how to effectively steward supporters over a longer period.
Managing risk: as consumers are more likely to trust an online will provider due to its association with a charity, charities must make sure that they understand the finer details of each of the products and that their chosen partners are offering quality, ethical and compliant products.
DOWNLOAD THE PUBLIC BRIEFING
The Digital Legacy Insights 2024 public briefing can be viewed here. The full research findings are available to programme members only.
LEAVE YOUR LEGACY TODAY, FOR THEIR TOMORROW
SSAFA, the Armed Forces charity exists so that no one in our Armed Forces is left to battle life’s darkest problems on their own. Together, with the help of our volunteers and supporters, we are close at hand for any member of our Armed Forces family in their time of need. We provide welfare and wellbeing support to serving personnel, veterans, and their families across the UK and abroad. All tailored to individual needs, helping people get their lives back on track. We do not judge – we offer a helping hand and a listening ear, for as long as we are needed.
SSAFA relies on the generosity of our supporters to provide our vital services. With a gift in your Will, you could help us be there for future generations of the Armed Forces family.
Gary is a veteran of the Scots Guards. He is also a triple amputee.
His life – and his family’s – changed forever when he lost three limbs in a devastating explosion while serving in Afghanistan. The years in between and the road to recovery have been long and challenging, but SSAFA was there for him and his family.
From adapting their family home to accommodate Gary’s needs, to providing logistical and financial support during many medical operations, SSAFA has been there whenever and however he and his family needed us.
Not everyone that SSAFA supports has the challenges Gary lives with, and we do not know how our Armed Forces will be needed in the years ahead. But one thing we do know, with a gift in your Will; you will help us be there for our Armed Forces family in the future, providing welfare and wellbeing
support to those who need us so that they never battle alone.
Last year, due to the kind generosity of supporter donations, including those who left a legacy to SSAFA with a gift in their Will, the charity was able to support an incredible 54,000 people from the Armed Forces community. Each person helped had their own unique challenges and battles.
You can help us face the uncertainty in the years ahead with confidence and change so many lives. By leaving a gift in your Will to SSAFA, your kindness can ensure that they never battle alone.
With a gift in your Will, you will stand alongside our future Armed Forces, always and forever.
To find out more, visit ssafa.org.uk/gifts-in-wills.
