Company Turnover Reports

[NWPW]

Hi All,

Sorry if this is the wrong thread for this discussion.

I have been invited to invest in a company who offer delivery services. They have shown me there figures etc in a presentation and all looks well.

What I would like to know is there somewhere I can order there audited accounts to prove there figures in terms of revenue and profit?

I will be getting all this from them but I would like to know if I can order this before I receive theres and to also be sure they are genuine figures.

If anyone knows where this can ordered/how much it costs please let me know.

Thanks,

Pauly

 

[Zeno]

Assuming it is a small company and is entitled to file accounts as such, you will not be able to obtain this information from the abbreviated accounts submitted to Companies House.

You should also bear in mind that if it is a small company then it is highly unlikely that it the accounts will have been audited.

See here for thresholds etc - http://www.businesslink.gov.uk/bdotg/action/ruDetail?type=REGUPDATE&itemId=1080485954

 

[Bob]

You also need to make sure that there is a shareholders agreement in place as a minority shareholding can otherwise be worthless

 

[Wild Goose]

What I would like to know is there somewhere I can order there audited accounts to prove there figures in terms of revenue and profit?

The only people who get to see the full-blown accounts, aside from the directors, are the accountants and the Inspector of Taxes. Those accounts may or may not be audited, dependant upon the company's size.

You'll just have to ask the directors for one of their copies.

I will be getting all this from them but I would like to know if I can order this before I receive theres and to also be sure they are genuine figures.

If anyone knows where this can ordered/how much it costs please let me know.

You could get a copy of the abbreviated accounts from Webcheck at Companies' House (google "webcheck"). If there's been any funny business alterations to the full-blown accounts to "dress-up" the company then you should be able to spot the differences between the balance sheets: the profits should match, for example. If you're not sure what to look for, an accountant can tell in an instant.

Worth doing for £1, and it's instant. It's not unheard of for companies to restate their accounts to impress prospective purchasers. Reducing depreciation rates, for example, could make the profits appear higher than they really are.