Is there a website to check a company is legit

  erkmatrix 13:20 31 Mar 2004
Locked

Just wondering if there was a website that you can go to and check to see if a ltd company is legit and to find their details and that if they have a website, I seem to recall that there was but can't remember the address.

Phil

Companies House

Main Page click here

Web search of companies click here

  Stuartli 14:48 31 Mar 2004

Smiffy99 is quite correct - in fact it's the method used by the majority of businesses to check up beforehand on other companies they deal with for the first time.

  erkmatrix 14:56 31 Mar 2004

Cheers I've tryed it and the company seems to check out OK, must remember the site for the future.

  Stuartli 15:57 31 Mar 2004

You can also try click here - you will have to register free - for a range of services that can prove very valuable, including checking your credit files, companies' details, vehicle checks, whether you are at risk of anyone taking over your identity etc.

  Forum Editor 18:31 31 Mar 2004

that just because a company is listed at companies house it doesn't mean it's 'safe' in terms of financial stability etc. It simply means it's registered. There's a register of those people disqualified from holding company directorships, but if you want to know about the creditworthiness of a company you'll need to look elswewhere.

Absolutely - anyone can buy an "Off the shelf" company for as little as £100 or so and so long as there are 2 directors it will be "legit".

However, the companies house website provides the ability to order financial accounts and reports of company activity, including any mortgages or charges against the company assets. From this information you may be able to ascertain the standing of the company and whether you consider them to be a good risk in terms of doing business.

Caveat - Remember Enron!!

  spuds 22:51 31 Mar 2004

If you want to check out a company on-line Equifax click here now offer a facility for this purpose.

  Forum Editor 23:13 31 Mar 2004

is that having a web site is no guarantee that a company is a good trading risk, so don't rely on that as any form of benchmark.

In addition, you shouldn't rely on any figures you get from companies house as being the definitive answer. That isn't the fault of companies house, it's simply that they can only supply you with figures that have been lodged with them - and there's nothing to indicate whether a company is going to remain in business or not.

To be honest it's only worthwhile going to all this trouble if you're:

a) Thinking of opening a trade account, and allowing a company to buy from you on credit.

OR

b) Considering investing in a company.

Otherwise you may just as well rely on your personal judgment. Companies can become insolvent very rapidly once their revenues fall, and a business that looked perfectly OK when the last set of accounts was filed at companies house may suddenly go under when the cash flow situation takes a turn for the worse. It's true that there are sometimes advance indicators, but these can often be hard to spot unless you have the expertise to do it.

  Stuartli 14:18 01 Apr 2004

Through the link I provided earlier you can buy copies of companies' financial reports etc for a small fee; probably similar to the link provided by spuds.

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