81,955 ... £000 - does this mean £81m ?

[Daz]

I have downloaded one of my competitors full accounts documents from companies house.

First question is.. do you have to submit non-abbreviated accounts if you're over a certain turnover?

Second question... does this mean £81m in the profit and loss account?


2009 2008
£000 £000

81,955 76,174 (turnover)


...at first i thought it was just £81k... but the competitor has 240+ stores throughout the UK, so it's got to be £81,955,000 right?

 

[Deleted member 53208]

I think it's 81 million as well, and yes you have to post full accounts if you make more than £56,000000, have more than 50 emoloyees or have a balance sheet total of over 2,800,000.

Hope this helps

 

[mike.davis]

If they turnover £80 million and you have to come on a business forum to ask how to read accounts, I don't really think your competition to them

 

[IANL]

I have downloaded one of my competitors full accounts documents from companies house.

First question is.. do you have to submit non-abbreviated accounts if you're over a certain turnover?

Second question... does this mean £81m in the profit and loss account?


2009 2008
£000 £000

81,955 76,174 (turnover)


...at first i thought it was just £81k... but the competitor has 240+ stores throughout the UK, so it's got to be £81,955,000 right?

Yes as it is saying how many £ 000's it is 81,955,(000) ( Nearly £82 million)

and no you cannot file abbreviated accounts when certain caps are breached.

This might be useful
http://www.businesslink.gov.uk/bdotg/action/detail?itemId=1073791915&type=RESOURCES

 

[LicensedToTrade]

If they turnover £80 million and you have to come on a business forum to ask how to read accounts, I don't really think your competition to them

Not entirely true. There are many large chains out there that win and lose locally. For example a plumbers' merchant with 250 stores will have the purchasing power and central support that comes with such a large organisation but aside from other national chains that compete with them they will have as much of a fight locally at each and every store.

My personal experience is that the most popular merchant in a particular locality is often the local independant who only has one store. Local competition can be as tough to break and a national competitor. It won't matter if you have a store in hull, leeds, chelmsford etc etc. The plumbers' that live and work in Bristol will only care about the merchants in Bristol.

 

[Daz]

If they turnover £80 million and you have to come on a business forum to ask how to read accounts, I don't really think your competition to them

Turnover 2009 = £81m
Profit 2009 = £1.2m


Not much competition eh

 

[LicensedToTrade]

Turnover 2009 = £81m
Profit 2009 = £1.2m


Not much competition eh

Without looking at the full accounts I couldn't possibly comment, but don't just look at the profit as a proportion of the turnover and come to the conclusion that they aren't serious competition.

For a start, what industry are you in? How much capex have they spent on growth and improvement of their existing sites? How much WC is tied up in stock? How do these sales and profit figures compare vs LYTD?

There are plenty of 250 branch operations out there that would see profits of £1.2mn in 2009 as an overwhelming success.

 

[Daz]

Aye joking aside they are a huge operation and i'm no competition to them...

However, it's not to say i wont be eventually ;-)

 

[LicensedToTrade]

What industry are you in by the way?