- Original Poster
- #1
I wonder if anyone can help me with this, I know you can order company accounts online and see abreviated accounts but these don't actually give a great view into how the business is performing. for instance my abbreviated accounts look like my company has a lot of liabilities which is some case is true but this is actually my directors loan account so although the business net worth is very low on paper we actually make a really healthy profit. Is there anyway to check this online for other businesses?
one of our competitors who is local I have snooped on slightly online, their company net worth went from 46'000 to minus 26'000 in one year, it now says the company dissolution first gazette (could this just be because they haven't submitted their accounts?) they are overdue, this company owns another company (think there may be some vat dodging going on as a few companies seem to trade in the same area) this also has a negative net worth and has not submitted accounts.
upon looking up the director he does have a few companies but very recently when i was notified of the dissolution (im not sure what this means) via email as i have it set up for notification on this business. Hes has registered another company almost exactly the same name but with an extra added letter to the initials in the title, and this has a different address. I think they may be moving to another industrial unit which would make sense as the rent on the one they had and the area was overkill for our business if you ask me.
The reason i ask is this person appears to be doing very very well, 100k in luxury cars, very nice home, always on holiday to exotic places and it just doesn't add up at all. I know roughly his overheads and his margin and I don't understand how this is possible at all. I know don't be nosey it's none of your busines etc but i know this stuff all gets run through the company (we used to have the same accountant) I think i might be missing some trick here. There is also another local compny that seems to rise from the ashes every few years after masses of debt but again luxury cars, big houses etc.
if anyone could give me some insight that would be great. These are people who either I know personally or friends do and i can assure you the cash is coming from nowhere else such as rich family members etc.
one of our competitors who is local I have snooped on slightly online, their company net worth went from 46'000 to minus 26'000 in one year, it now says the company dissolution first gazette (could this just be because they haven't submitted their accounts?) they are overdue, this company owns another company (think there may be some vat dodging going on as a few companies seem to trade in the same area) this also has a negative net worth and has not submitted accounts.
upon looking up the director he does have a few companies but very recently when i was notified of the dissolution (im not sure what this means) via email as i have it set up for notification on this business. Hes has registered another company almost exactly the same name but with an extra added letter to the initials in the title, and this has a different address. I think they may be moving to another industrial unit which would make sense as the rent on the one they had and the area was overkill for our business if you ask me.
The reason i ask is this person appears to be doing very very well, 100k in luxury cars, very nice home, always on holiday to exotic places and it just doesn't add up at all. I know roughly his overheads and his margin and I don't understand how this is possible at all. I know don't be nosey it's none of your busines etc but i know this stuff all gets run through the company (we used to have the same accountant) I think i might be missing some trick here. There is also another local compny that seems to rise from the ashes every few years after masses of debt but again luxury cars, big houses etc.
if anyone could give me some insight that would be great. These are people who either I know personally or friends do and i can assure you the cash is coming from nowhere else such as rich family members etc.
