Accounts appraisal

[Atomic Ads]

I'm looking at entering a franchise type arrangement with a London company. As part of my research I have DL'd their accounts available from Companies House (3 years) but I don't have the necessary knowledge to read them critically.

Who would be the best person to show them to for a proper appraisal?

 

[Gouldie0]

I'm looking at entering a franchise type arrangement with a London company. As part of my research I have DL'd their accounts available from Companies House (3 years) but I don't have the necessary knowledge to read them critically.

Who would be the best person to show them to for a proper appraisal?

Hi,

If you're entering a franchise style agreement, I suggest you request copies of the previous statutory accounts directly. The information held at Companies House is minimal (as these are the requirements) and won't give you all of the information you require.

Kind Regards

Neil

 

[Mike Lewis]

Who would be the best person to show them to for a proper appraisal?

An accountant.

Given that you are thinking of setting up a business, you will need to speak to an accountant in any case. He or she would be the best person to advise you on your franchisor's accounts.

Good luck with your endeavours, and welcome to the forum.

 

[Scottish Business Owner]

Hi,

I would agree with both posts above but I would also suggest that you credit check the company concenred initially as well. Like Neil says if a company is only filing abbreviated accounts you wont get much from them. A credit check will uncover a bit more detail as to who the directors are, what their history has been like with regards to previous companies and also whether the company has any CCJ's or the like on it's file.

If you PM me the details of the company you want checked i'd be more than happy to run them through our credit checking system and give you some pointers as to where to go next. I still think you should also speak with an accountant but perhaps it will help you to ask more probing questions.