Obtaining Profit/Loss statement of a Limited Company

[lippa]

How can I get access to the past Profit?Loss statements of a public (Ltd) company?

[Skyline D]

Not as simple a question as it sounds. It depends what you actually mean? A "public" company is NOT a "Ltd" company. They are two different things.

All companies are required to file annual accounts with Companies House. A "private limited company" (Ltd), if it is defined as "small" doesn't have to file a Profit & Loss statement, just a balance sheet, so the short answer if it's one of those is, you can't.

A "medium" sized company has to publish a statutory P&L starting with "Gross Profit" (so it doesn't have to disclose its turnover). A "large" company has to disclose turnover and cost of sales.

A "public company" (plc) is the same as a large Ltd one.

In all cases however what they publish if at all is a statutory format P&L account which won't tell you much really. Just sales, cost of sales, other income (in total), interest and tax. No companies are required to publish their detailed expense accounts.

[lippa]

Thanks for that - I got my terms mixed up - it is a limited company with about 80 employees. So not sure where that fits in with the size of the company.

I am hoping to access the records of the company I work for, as I am a profit share and am hoping to find out whether or not I have been getting my full entitlement. I can ask to see the statements but would rather not rock the boat. So uf I can do it in an alternate way I would prefer that.

How would I be able to get the records from Companies House?

[Skyline D]

There are three tests to decide the "size" of a company. Number of employees IS one of them and 80 would make it medium (over 50, less than 250). The other tests relate to Turnover and Asset value though. I'd be surprised if an 80 employee firm wasn't turning over in excess of �5.6m in which case it WILL be a medium firm but it's possible of course.

You can go to Companies House website, search the name of the company on their "Webcheck" service and then order a copy of the accounts by e-mail for the princely sum of �1.

www.companieshouse.gov.uk

[tamborine]

google

http://www.checksure.biz/?gclid=CO3myter0psCFZ kA4wodVHg6Jg

[lippa]

Thanks very much, T/O is just under 4 million so medium it is. Thanks for your help.

[Skyline D]

If Turnover is under �4m it's probably small, not medium but it will depend on asset size. OVER �5.6m is the test for Medium status.

At the end of the day, pay your �1 at Companies House and find out. It will tell you before you buy what format of accounts it is. If it's 'Abbreviated Small' there isn't a profit and loss account included (though you could work out a bottom line figure from the movement in reserves).