Annual Accounts-how long after being filed will they show online at Companies House?

[*Lexxy*]

i'm looking on WebCheck at Companies House into a company that shows their last annual accounts were filed for the period to 31.03.08. the period to 31.03.09 is now overdue & should have been filed by 31.01.10.

could they have actually filed their accounts, but it's just not showing yet? or is this information pretty much 'live'?

i have a sneaking suspicion that they're about to go bust, but perhaps my spidey senses are just wrong!

(i've had a recent credit report on them but the info is too old to be reliable. based on their recent payment history with us, i've put them on a pro-forma account now anyway).

 

[Geoff T]

I'd allow only 7 days for that kind of info me dear...

Proforma - I'm SOOO proud!!!

proper like - no old stuff?

 

[Zeno]

It should only be a couple of days. For a wee while (sometimes a few hours) the documents show as filed but unavailable.

 

[*Lexxy*]

Geoff - absolutely 'all proper'! i take my lessons from The Master you know

hmmm, so for a supposedly busy company with no cashflow issues whatsoever, new contracts coming in left right & centre - why on earth wouldn't they get their accounts filed on time?!

i hate to see any company fail, but the way the MD works on this particular venture (all his best financial plans are from some guy called pinnocchio ), you really couldn't expect anything else...

 

[Geoff T]

It should only be a couple of days. For a wee while (sometimes a few hours) the documents show as filed but unavailable.

Zeno - I was allowing for info-buyers...

What do you think on that basis - rather than the "horse's mouth" as a back-stay...

 

[Zeno]

hmmm, so for a supposedly busy company with no cashflow issues whatsoever, new contracts coming in left right & centre - why on earth wouldn't they get their accounts filed on time?!

You really can't read too much into the late filing of accounts. Some companies even deliberately file late to their own ends.

 

[Geoff T]

You really can't read too much into the late filing of accounts. Some companies even deliberately file late to their own ends.

True - like to avoid showing the profit margins have gone through the floor, net profit did same, they are 'a skint', payment profile is worse...

Late filing is a BIG warning sign in my game - and I warn clients accordingly (if they've nothing to worry about, there's no reason not to file IMO)

Are there good reasons for doing it in your experience - out of curiosity?

 

[Geoff T]

Geoff - absolutely 'all proper'! i take my lessons from The Master you know

'The Master' - good guy as I recall, needs to get Lizzy back for his avatar though IMHO

Good on you me dear

i hate to see any company fail, but the way the MD works on this particular venture (all his best financial plans are from some guy called pinnocchio ), you really couldn't expect anything else...

said it before, saying it again... SOOOO proud!

hmmm, so for a supposedly busy company with no cashflow issues whatsoever, new contracts coming in left right & centre - why on earth wouldn't they get their accounts filed on time?!

As above (with my post), and waiting on the Master Zeno

 

[*Lexxy*]

i couldn't think of any reason for late filing other than your figures are abysmal & nobody will give you any credit when they are available.

i'm interested in why it could be seen as a benefit to a company?

as a side note on this one, this company made a couple of enquiries with us earlier in the week for jobs that would have been around £5k in total. i told them their account is now pro-forma & why, they've come back today & said for us not to bother getting back to them with any prices...

 

[Zeno]

Are there good reasons for doing it in your experience - out of curiosity?

As an accountant, no. This is the price of limited liabilty and the veil of incorporation.

A common one is where the company is a subsidiary of a group with a different year end that does not want certain results or actions to become known at earlier date of filing.

 

[Zeno]

Just to add, there are also the more mudane reasons:-

1. Can't be arsed doing them/getting them done

2. Problems with current/previous accountants

3. Lack of agreement with the directors/shareholders

 

[Geoff T]

As an accountant, no. This is the price of limited liabilty and the veil of incorporation.

A common one is where the company is a subsidiary of a group with a different year end that does not want certain results or actions to become known at earlier date of filing.

Proves both me - and my profession - correct in our assumption then...

And *Lexxy* too, for that matter...

Err on the side of caution works...

 

[Zeno]

Proves both me - and my profession - correct in our assumption then...

And *Lexxy* too, for that matter...

Err on the side of caution works...

The example does not necessarily mean that the company are trying to hide negative results or actions but this will of course be the usual position.

I suppose it comes down to if you perceive the benefits of whatever it is you are trying to delay becoming public knowledge (to an extent when talking about small company abbrievated accounts) being greater than the damage to your filing history/reputation and resulting credit rating.

 

[yorkshirejames]

There is no advantage toward filing earlier though.

I mean, the confidentiality issue would suggest that the later accounts appear online (provided they are just in time) the better.

 

[Zeno]

There is no advantage toward filing earlier though.

I mean, the confidentiality issue would suggest that the later accounts appear online (provided they are just in time) the better.

In the world of the big boys there is. League tables are published (and some sad individuals whom I am pleased to say I am not one of this time actually read them) that show PLCs year ends and the date their accounts were filed. It is a bit a competition between the Final Four.

 

[David Griffiths]

If last year's accounts weren't very good, there may be an advantage in filing improved figures this year to help the credit rating. So early filing would be better.

 

[yorkshirejames]

If last year's accounts weren't very good, there may be an advantage in filing improved figures this year to help the credit rating. So early filing would be better.

Good point Sir.