postedoverseas started this topic @ 16:03 on 30/06/2007
Hi all,
Is there a way that I can get hold of my competitors financial records for the previous few years. I have heard that if I write to the Company Secretary they must provide me with a company. Is this true.
If not are there any services that provide these records. i.e. Companies house provides company details on request for a small charge, is there a similar service for a companies Financial records?
Always, any suggestions welcome.
John
RE: Is there a way to get hold of a companies financial records?
Nick Dyer | 01/07/2007 09:54 AM
Hello John,
I'm not aware of the Company Secretary being required to issue copies of accounts to anyone asking for them, only for ensuring the copy is prepared and sent to Companies House.
If the competitor is a limited company and have recorded their financial information at Companies House then you can access it direct from Companies House but the information will be in the "raw" accounts.
Bear in mind that not all businesses have to file full sets of accounts. SME's qualifying with
* annual turnover must be £5.6 million or less
* balance sheet total must be £2.8 million or less
* average number of employees must be no more than 50
can submit abbreviated accounts. These accounts will provide you with little information and do not require a full audit.
Larger companies obviously have to submit audited accounts so their figures should be more reliable and extensive.
Depending on what you need, a Credit Report may be more suitable. A credit report can include details from the Profit and Loss, plus extracts from the Balance Sheet, Company details, Statistical analysis, Directors details, notifications of other directorships etc
Basically, a credit report will provide a lot more information, is cheaper and easier to follow than a companies house draft.
We are able to prepare credit reports for our clients if needed. Feel free to drop me a line and I can gladly quote a price for you.
Regards
Nick
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Low Cost Debt Collection, Credit Control and Litigation
RE: RE: Is there a way to get hold of a companies financial records?
James Smith | 02/07/2007 08:39 AM
Dont forget you can very simply download the last filed set of accounts from companies house for £1.
As above however if its a small company this wont show very much as it will be under the "FRSSE" (Financial Reporting Standard for Smaller Entities) which only requires a balance sheet and a few notes.
Regards,
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James Smith
Chartered Accountant
www.jamesesmith.co.uk
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Your indispensable guide to Small Business Bookkeeping, Self-Assessment & VAT
RE: Is there a way to get hold of a companies financial records?
dewalex | 10/04/2008 06:27 AM
Yes, company financial report is available if you request for it from the company, you can also get it from the company's end of the year annual financial report.
RE: RE: Is there a way to get hold of a companies financial records?
Peter W | 13/04/2008 08:41 AM
This doesn't work for small companies.
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www.brighton-accountants.com