check to see if company exists

S

sydthebeat

Registered User
Messages
1,598
hopefully this is the right forum , if not sorry...


Is there any facility to check if a company still exists??

also, what does 'limited' actually mean... does it mean the assets of a company are covered to a certainvalue or what??

thanks...
 
sydthebeat said:
hopefully this is the right forum , if not sorry...


Is there any facility to check if a company still exists??

also, what does 'limited' actually mean... does it mean the assets of a company are covered to a certainvalue or what??

thanks...
Click to expand...

OK - these are very basic but hugely important questions.

If you are having any dealings with people/partnerships/limited companies it is important that you know precisely who and what you are dealing with. If the relationship gets into difficulties, you need to know the legal entity that you are dealing with. So, say you are dealing with John Smith trading as JSL - you are dealing with an individual. if you are dealing with John Smith who represents JSL Limited then you are dealing with JSL Limited. This is a limited liability company - if you need to sue them, you sue the company and not the directors. If you get a judgment against the company, and the company has no assets, you are unlikely to recover any money.

As other poster said, log onto cro.ie and you can do a company search there.

mf
 
Limited means that the company is only liable to its creditors up to the value of the assets it holds. The directors cannot usually be made personally liable for the debts of the company (excpet in circumstances of fraud etc)
 
thanks mf1 and havealaugh... exactly what i needed...

the company i was looking for exists there alright... how do i find out what its value is, ie what its 'limited' to....

AFAIK its only a one person outfit, so i wouldnt assume any kind of shareholders, investors etc....

is there a minimum asset youneed in order to be classified as 'limited'...

thanks again
 
If I understand you correctly, what you are actually trying to find out is the financial state of the company. You can do a paid search on the company and apply for a copy of their last set of accounts. It is a very bad sign if their accounts have not been filed by the due date.

If you have real concerns about a company you are doing business with ( and rumour and bounced cheques are again very bad signs) you can decide not to deal with them or only deal with them on a cash basis.

mf
 
mf1 said:
If I understand you correctly, what you are actually trying to find out is the financial state of the company. You can do a paid search on the company and apply for a copy of their last set of accounts. It is a very bad sign if their accounts have not been filed by the due date.

If you have real concerns about a company you are doing business with ( and rumour and bounced cheques are again very bad signs) you can decide not to deal with them or only deal with them on a cash basis.

mf
Click to expand...

mf, to be honest, I have been asked to do work for a client, with my payment to come from any future legal action against a company....

now, i have a strong gut feeling that this company is worth nothing... as i said above, its only a one person company. I do not want to do work in which i might never get paid, nor do i want my fee dragged through courts as i personally have nothing against this comapny....

the problem is, if i refuse i will be seen as being uncooperative in bringing the issue to a completion and this doesnt bode well for my reputation.

sticky one!

edit: and yes, bounched cheques and unpaid bills are a reality with this company....
 
"the problem is, if i refuse i will be seen as being uncooperative in bringing the issue to a completion and this doesnt bode well for my reputation.

sticky one!"

Aaaaaaaah! Indeed.

I long ago made a decision that I would not fund other peoples cases/foibles. So, if someone wants me to do something, they ( no-one else) are responsible for my fee. If there is any element of contingency about it, I weigh it up and decide whether for whatever reasons, I am willing to work with more than a risk of not being paid. I've won some and yup, I've lost some.

In the current climate, it gets ever more complex. You have my sympathy.

mf
 
You can download their last accounts from the Companies Registration Office. Also, if you download the last Annual Return, you will see who the Directors and Shareholders are.

The Accounts could be very basic, if they have availed of the Audit Exemption and also bear in mind that depending on the date of the last Annual Return, (Accounts will usually be 9 months older than Return) could also be now quite old, so the financial circumstances could well have changed between then and now.

I would be very weary of taking on this type of work, usually a load of time clocked up for no fee. Could you not sign up your client on a time basis?
 
You must log in or register to reply here.
Back
Top