Keep unsold assets visible in the post-trading plan
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Trading can end while some assets remain unsold, retained or awaiting an authorised decision. Keep those items visible in the post-trading plan. Their presence may affect storage, accounts, access and the advice needed to complete the wider closure.
Start by establishing the actual status of each item with the responsible person. A proposed sale, an accepted instruction and a completed transaction are different states. Avoid recording expected proceeds as though the money has already arrived.
Give every unresolved asset a business owner
A residual-asset note can be short, but it should connect the item to its remaining tasks:
| Entry | What to establish |
|---|---|
| Asset identity and location | Which physical item the record describes |
| Ownership and authority | Evidence held and any question for an adviser |
| Current status | Retained, offered, awaiting instruction or another confirmed position |
| Continuing commitments | Storage, access or other arrangements still applying |
| Next decision | Who can make it and what evidence they need |
| Wider closure effect | Which accounts or adviser task depends on the outcome |
Do not use this note to set a price or assume a legal distribution route. Those decisions need their own authority and appropriate advice.
Separate the sale decision from the tasks around it
In a fictional closure, a machine remains at a storage location while the owner considers an offer. The asset is still unresolved even if the workshop has been handed back. The business needs to know who controls access, what the storage arrangement requires and who will update the accountant when the position changes.
The aftercare budget should show continuing costs on an appropriately advised basis. Keep uncertainty visible rather than assuming the offer will fund every remaining commitment.
Use the closure authority map if the person entitled to approve the next step is unclear. The former site manager's knowledge of the machine does not automatically give them authority to accept an offer.
Keep the instruction current
Discuss the confirmed remaining scope with UK Auction Group. Give the relevant asset reference, current location and known constraints. Confirm any change to an existing instruction through the agreed channel.
If another adviser needs sale evidence, identify what they require and who will provide it. A general message that the auction is finished may leave them unable to distinguish sold items, outstanding receipts and assets still held.
The administrative calendar can record the follow-up, with dates confirmed by the responsible advisers. The equipment's final departure and the entity's formal closure are separate questions.
At each review, update the next action and its owner. When the asset's position is resolved, record the evidence and notify the people whose work depended on it. That closes a specific dependency instead of allowing the item to disappear from the plan once normal trading has stopped.
Sources
This guide is general information and education only. Legal, tax, employment and safety decisions may need a qualified adviser who knows your situation. Read the disclaimer.