Any accountants here?
Discussion
After two and a half years of hard work I've been invited to become a shareholding director of the company I work for! 
I'm not going to be investing a huge amount - £5-10k - but this is obviously a gamble like buying any shares (though in this case I at least have some chance of influencing their value). So, I need to get the company accounts given the once over to make sure I'm not chucking my money away.
What kind of charges would I be looking at for getting a professional opinion on the accounts? The company's not very big and the accounts only run to about ten pages and it should all be fairly straighforward...
I'm not going to be investing a huge amount - £5-10k - but this is obviously a gamble like buying any shares (though in this case I at least have some chance of influencing their value). So, I need to get the company accounts given the once over to make sure I'm not chucking my money away. What kind of charges would I be looking at for getting a professional opinion on the accounts? The company's not very big and the accounts only run to about ten pages and it should all be fairly straighforward...
I'm an accountant (don't hold it against me - drive a TVR, therefore can't be boring!) but I'm employed, so would have to go through firm - PII cover etc, etc.
Accounts appraisal would not take long, therefore pretty cheap, assuming you don't want in depth analyses, just a feel for the Co's health.
Feel free to email me, or direct to my boss, and attach the accounts if you can get them in Word format or similar, will be happy to help: Boss email - [url]sandra@deacons.ndo.co.uk[/url]
Accounts appraisal would not take long, therefore pretty cheap, assuming you don't want in depth analyses, just a feel for the Co's health.
Feel free to email me, or direct to my boss, and attach the accounts if you can get them in Word format or similar, will be happy to help: Boss email - [url]sandra@deacons.ndo.co.uk[/url]
The MD's not in today so have to wait until I can talk to him tomorrow. Request a copy of the Articles of Association for the company as well. Covers all the procedures and rights for shareholders, including (for example) compulsory sale of shares if you leave the company, at a market price potentially externally determined.
So now you need a lawyer too...
So now you need a lawyer too...
I'm an accountant running my own practise so you could e-mail me if you want some assistance on this metter.
I'd advise you to check the company's status at Companies House too. You can check some basic details for free i.e. whether their main filing requirements (accounts, annual return etc) are up to date . Other information will require a fee (fairly nominal - usually less than £7.00).
I'd advise you to check the company's status at Companies House too. You can check some basic details for free i.e. whether their main filing requirements (accounts, annual return etc) are up to date . Other information will require a fee (fairly nominal - usually less than £7.00).
Judas
The articles point is valid, but unlikely, to be honest. As the company is small, those kind of tactics aren't normally known. The company will have many copies of the 'Memorandum and Articles of Association' and you can simply ask them for a copy - they can hardly refuse, and if they do - walk away! Normally not many pages to check through (although may look gobbledegook!) Most articles are never touched, and straight out of The Companies Act. You shouldn't need a lawyer for this!
Good point about checking at Companies House, though this only tells you if the accounts/Annual Return are late (free info). The website is [url]www.companieshouse.gov.uk[/url] - click on 'Company Information', and enter the name of the Co.
Together with your own knowledge of the firm, and an appraisal of the accounts, you can learn much about the company's health.
Hard copy is fine - can be faxed!
The articles point is valid, but unlikely, to be honest. As the company is small, those kind of tactics aren't normally known. The company will have many copies of the 'Memorandum and Articles of Association' and you can simply ask them for a copy - they can hardly refuse, and if they do - walk away! Normally not many pages to check through (although may look gobbledegook!) Most articles are never touched, and straight out of The Companies Act. You shouldn't need a lawyer for this!
Good point about checking at Companies House, though this only tells you if the accounts/Annual Return are late (free info). The website is [url]www.companieshouse.gov.uk[/url] - click on 'Company Information', and enter the name of the Co.
Together with your own knowledge of the firm, and an appraisal of the accounts, you can learn much about the company's health.
Hard copy is fine - can be faxed!
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