garywayne
Established Member
Can anyone tell me how I can find out the financial stability of a company. Free of charge, of coarse.
Company information?
- Thread starter garywayne
- Start date
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Why would you expect it to be free? I'd be suprised if you find anyone giving access to that kind of database foc. I believe you can buy a one off report from Dun & Bradstreet for (in the region) of £50 or cheaper if you have a client account with them. Mike
beech1948
Established Member
Garywayne,
You have a little bit of a problem. It's this.
1) Best and cheapest source of information is to get a copy of the last years published accounts from Companies House. Its quick and relatively cheap. All of the other places eg: Dun and Bradstreet use this data to set up their databases. Go to source. Its also good to find out names and addresses of directors. Of course the cheapest way is to ask the company for a copy of its accounts as published to CoHo.
2) For this year there will be nothing at Co Ho. So you need to use one or several of the following:-
a) Get a credit agency to give you a credit review of the company
b) Talk to someone at the company who might know whats going on or even telephone the Finance Director and ask and then get him/her to put it in writing. If 6 months of financial year has gone by then ask for 6 month update...a larger public company often produce one for the city.
c) Talk to one or more of their suppliers to ensure they are still being paid on time and have no outstanding debt issues.
Sorry its not as simple as you expected. If you need more advice or want to share specific problem privately them please send a pm.
regards
Alan Beech
Managing Director
Mind Strategy Ltd
You have a little bit of a problem. It's this.
1) Best and cheapest source of information is to get a copy of the last years published accounts from Companies House. Its quick and relatively cheap. All of the other places eg: Dun and Bradstreet use this data to set up their databases. Go to source. Its also good to find out names and addresses of directors. Of course the cheapest way is to ask the company for a copy of its accounts as published to CoHo.
2) For this year there will be nothing at Co Ho. So you need to use one or several of the following:-
a) Get a credit agency to give you a credit review of the company
b) Talk to someone at the company who might know whats going on or even telephone the Finance Director and ask and then get him/her to put it in writing. If 6 months of financial year has gone by then ask for 6 month update...a larger public company often produce one for the city.
c) Talk to one or more of their suppliers to ensure they are still being paid on time and have no outstanding debt issues.
Sorry its not as simple as you expected. If you need more advice or want to share specific problem privately them please send a pm.
regards
Alan Beech
Managing Director
Mind Strategy Ltd
paulm
IG paulm_outdoors
A Companies House search on the internet only costs a few quid Gary, less than a fiver I think, and while not necessarily current information would provide last filed accounts. You would need to have some degree of financial/accounting knowledge to interpret them though.
Here's the link if you want to have a go
http://wck2.companieshouse.gov.uk/638bc ... ompanyInfo
Happy to give you a view on the results if you want, but as Alan says a companies situation can of course have changed since the last accounts were filed so it's not that conclusive.
PM me if you need any help.
Cheers, Paul.
Here's the link if you want to have a go
http://wck2.companieshouse.gov.uk/638bc ... ompanyInfo
Happy to give you a view on the results if you want, but as Alan says a companies situation can of course have changed since the last accounts were filed so it's not that conclusive.
PM me if you need any help.
Cheers, Paul.
garywayne
Established Member
Mike.- Due to my personal financial disposition, whenever I seek information I see if it is possible to obtain it free of charge. Why pay for something when it can be got for nothing. Don't ask, don't get.
I would like to thank all of you for your information and advice.
My wife works for a large American firm that has recently requested for voluntary redundancies. I was hoping to find out, or, try to work out my wives future with that firm.
I would like to thank all of you for your information and advice.
My wife works for a large American firm that has recently requested for voluntary redundancies. I was hoping to find out, or, try to work out my wives future with that firm.
RogerS
Established Member
Gary - I very much doubt whether you would get the information that you need as it sounds like you need very current figures. I know that US companies are very focussed on quarterly figures and so I would be asking myself why they are seeking voluntary redundancies.
Is it a short term attempt to improve profitability and shore up the share price? US finances look distinctly iffy at the moment...$2 = £1??
What sort of package terms do they offer to those who take VR?
Don't forget that if they give your wife a 'contract' to sign that outlines their severance package then she can go for advice to a solicitor or lawyer who specialises in employment law and give the bill to the company.
How easy would it be for your wife to get another job in the UK? Would she like to work somewhere else? Has she been hankering to move? This could be the catalyst.
It can be very unsettling but equally I've always adopted the view that as one door closes another one opens. We live in changing times and if you can, embrace it.
Best of luck to you both
Is it a short term attempt to improve profitability and shore up the share price? US finances look distinctly iffy at the moment...$2 = £1??
What sort of package terms do they offer to those who take VR?
Don't forget that if they give your wife a 'contract' to sign that outlines their severance package then she can go for advice to a solicitor or lawyer who specialises in employment law and give the bill to the company.
How easy would it be for your wife to get another job in the UK? Would she like to work somewhere else? Has she been hankering to move? This could be the catalyst.
It can be very unsettling but equally I've always adopted the view that as one door closes another one opens. We live in changing times and if you can, embrace it.
Best of luck to you both
garywayne
Established Member
Cheers Roger. I just thought I would see if I could glean some information.
Thank you all for your help and support.
Thank you all for your help and support.
Gary Just a thought but a large US company will probably have a share price which will be an indicator of their current condition. Similarly market reports focussing on market value etc might also hint at the sort of information you're after
Cheers Mike
Cheers Mike
beech1948
Established Member
Garywayne,
I think Roger Sinden nailed the answer.
I have been made redundant twice by US companies so I have some experience.
Usually this happens because they are not making the profits they need to satisfy their shareholders in the view of the company bosses. That means that their internal costs need to be controlled and staff are the highest costs. I also believe that ALL companies carry at least 10% overstaffing if not 20%. So they will be cutting costs ( staff are a cost) to cope with smaller than expected revenue/profit.
As Roger said it is a time of change. You can either bemoan that or embrace that. I would advise getting your wife into a (better) new job, take the package and put it in the bank.
regards
Alan
I think Roger Sinden nailed the answer.
I have been made redundant twice by US companies so I have some experience.
Usually this happens because they are not making the profits they need to satisfy their shareholders in the view of the company bosses. That means that their internal costs need to be controlled and staff are the highest costs. I also believe that ALL companies carry at least 10% overstaffing if not 20%. So they will be cutting costs ( staff are a cost) to cope with smaller than expected revenue/profit.
As Roger said it is a time of change. You can either bemoan that or embrace that. I would advise getting your wife into a (better) new job, take the package and put it in the bank.
regards
Alan
garywayne
Established Member
Thanks Mike, I'll check the markets.
Four years ago the firm sold shares to employees. Two years ago they did the same. This started to make me a bit sus.
Alan. Thanks for the benefit of your experiences. I shall have a chat with the wife tonight and see if we can both obtain alternative employment.
Four years ago the firm sold shares to employees. Two years ago they did the same. This started to make me a bit sus.
Alan. Thanks for the benefit of your experiences. I shall have a chat with the wife tonight and see if we can both obtain alternative employment.
the_g_ster
Established Member
The rules governing US companies are different to those in the UK. The Uk is more strict with accounts required to be filed at companies house on an annual basis and maybe even an audit if the company is large enough. Oddly the US is more relaxed UNLESS the company is a listed company on a trading market, in which case it is governed by the SEC and the requirements of US GAAP and Sarbannes Oxley. (To stop the Enrons etc).
You can obtain accounts for the UK subsidiary, but these may not tell you alot. Alternatively you could find out more about the parent and see if it is listed, in which case you will be able to get a copy from them, by a simple email as they could send you pdfs.
Feel free to PM me with any questions.
You can obtain accounts for the UK subsidiary, but these may not tell you alot. Alternatively you could find out more about the parent and see if it is listed, in which case you will be able to get a copy from them, by a simple email as they could send you pdfs.
Feel free to PM me with any questions.
