As you may be aware we have recently opened an Office in Aberystwyth and are opening another in Shrewsbury in June 2023. We hope this will give you, and all of our Clients greater accessibility, to our Services.
As part of the changes we are making, in common with many other law firms we are moving from a Partnership to a Limited Company, effective as of the 1st June 2023.
Below is an explanation of what this conversion means to our clients.
What is our new name?
We are retaining our name Richard George and Jenkins but as from 1st June 2023 our trading name will be Richard George & Jenkins Limited, registered at Companies House under the number 14500107.
Why are we converting to a Company?
The change will allow Richard George & Jenkins to trade with limited liability and to work within a simple, modern corporate structure. In England and Wales a Company is governed by the Companies Act and is a corporate body which has Directors and Shareholders rather than Partners. The Company itself is liable for any debts of the business and not the individual Directors. Conversion to a Company is a means of providing a more corporate structure to the way in which we operate our business and deliver our services. This conversion ensures that we can operate in a modern and efficient way.
Will the fact that we are a Company affect our clients?
No. We will continue to provide a high quality service to all our Clients. Our team structures and quality control systems remain the same. The conversion does not, in any way, affect the day to day running of the firm and we are still regulated and adhere to the code of conduct of the Solicitors Regulation Authority. A corporate platform will, however, allow us to take greater advantage of the Legal Services Act 2007 so that we will be able to offer our Clients a more diverse range of business services.
If you are a current client has the Solicitor dealing with your case changed?
No, if you have an ongoing matter with us the same Solicitor will still be dealing with your matter. It is very much business as usual and no internal restructuring has taken place.
What do you need to do if you have an ongoing matter?
Nothing. Provided you continue to want us to act for you then you will be deemed to have consented to the transfer of this matter to Richard George & Jenkins Limited.
Do we still have professional indemnity insurance?
Yes, in fact the minimum cap on our liability has increased from £2m to £3m (Please note: this cap can be increased if it is necessary to facilitate a matter).
What have we done with the data previously held by the Partnership?
Any data you provided to the previous Partnership has been transferred to the Company on conversion. Unless you tell us you no longer wish us to hold your data, you are deemed to have consented to this transfer.
Does it impact on our bank account and how invoices rendered in the name of the Partnership are settled?
Yes. The bank account details have changed. Please contact the office for details for any payments made after this announcement.
However, if you have recently paid into the previous account do not worry as we will retain our previous accounts until we are confident that there is no longer a risk of people using the old account.
If your matter was closed pre conversion but the Partnership was holding documents for you what will happen?
Any deeds, wills, original items and other hard and soft copy documents will be transferred to the new Company. The Company has assumed responsibility for all such Property held in the Partnerships archive or at its premises. If you would like to retrieve your documents let us know, otherwise our continued storage of your property will be deemed to constitute your consent to this change in responsibility.