08 Mar The Top Ten Findings After A Company Search Report
What is a Company Search Report
A company search report is a basic tool for the inspection of a company’s records which is thoroughly analyzed and strictly verified.
Why does one need a Company Search Report
The stakeholders or the interested parties need a company search report for the following reasons:
- To check if the company exists or if it is a fake.
- To verify the financials before investing.
- To check the who’s who of the company and therefore the reliability.
What fundamental things a company search report should contain
As an investor or an interested stakeholder it is required that they get the following vital information to make smart choices:
Company Name
Company Number
Company Type
Date of Incorporation
Status
Website
Company Address
Latest Accounts
Confirmation Statement Date
Accounts Type
Credit Score
Company financial details
Company Directors financial details
Directors Details
Ownership of the company
Mortgages/charges
Filing Documents
Share details
Annual Reports
What are the main findings from a company search report
With the onset of company search reports, understanding the data has become easier. Unlike the old days, you don’t need a team for collection, analysis, and reporting of the company data to make informed decisions.
Here are ten inferences from the company search report:
- From the company search report, you can verify if the company exists in the registered address or if it is a phony company trying to dupe you.
- The report gives you an idea of the financials of the company.
- The report gives you an idea of the financials of the directors.
- The report helps the stakeholders assess how the directors have performed their duty to promote the success of the company.
- The annual company report also contains the annual quantity of greenhouse gas emissions from activities for which the company is responsible.
- You can infer share capital, who have the voting rights, the disclosure of major shareholders, directors’ responsibilities statement and the auditor’s independence statement.
- The report will have the financial statement from which you can infer and predict the future of the company and its financials.
- The reports will give an idea of the trends and factors likely to affect the future development, performance or position of the business.
- One can also analyze the development and performance of the business in the financial year and of its position at the end of the year. This will help investors make decisions and plan their financials.
- An idea about how the company’s shares are doing. Also in the annual company reports you get an explanation of how the directors have assessed the prospects of the
company, over what period they have done so and why they consider that period to be appropriate; and whether they have a reasonable expectation that the company will be able to continue in operation and meet its liabilities as they fall due over the period of their assessment, drawing attention to any qualifications or assumptions as necessary. This will help individuals on the reliability and credibility of the company.
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