August 05, 2017
In the United Kingdom, a company name search can mean one of two things:
1. Searching for the availability of a limited by shares company name (the most popular business structure in the UK) - checking to see if a proposed company name can be used. This is can be done here.
2. Searching for a company with the aim of getting background information on it.
In this post we’re going to look at number two of these scenarios; Company searches UK with the aim of getting background information on it.
But before we we look at the ‘how’ of search company, first we’re going to look at exactly why you should want to complete a company name search. Let’s get started.
A company name search can provide you with the following UK company information (in the form of a company credit report - more on this later):
General information, including:
Date of of company incorporation
Registered office address - the official address for the company
SIC (Standard industry classification) code - a code that outline the industry that a company operates in
Confirmation statement made-up-to date - formerly known as the annual return
Annual accounts made-up-to date
Credit risk overview, including:
Credit risk score - a rating out of 100
Credit limit - amount that could be lent safely
County court judgements
Financial overview, including:
Directors - the person or people who run the company (as well as completing a company name search, you can also complete a director search to get more information on a director)
Shareholders - the person or people who own the company
Company accounts, including:
Salaries and dividends
So why would you want to complete a company name search? Put simply - you would do this to see if the company you’re completing a company search on is safe to enter into a business relationship with. This could be because:
● You’re about to place a large order with a company (and so part with a significant amount of cash)
● You’re about to accept a large order from a company (and so take time and money delivering your service)
● You’re about to go into partnership with a company (and so align your business with another)
In all these situations, by completing a company name search and also a director search, and analysing all the information available to you (including the company accounts information) you can assess the dangers of getting involved with a company. For example, it would be unwise to accept a large order from a company with a poor credit limit and whose company accounts do not look sound.
As we’ve already touched on, it’s also a good idea to look at company director information, as this will give you an indication of the types of the company the individual you’re dealing with has been involved with.
A UK company director search would typically provide you with the following director information:
● Director name
● Service address - the official address for the director (not necessarily the residential address)
● Date of birth
● Director ID number
● A list of all the companies that the individual is a director of
● A list of all the companies that the individual was a director of
Now that’s what a company name search and director name search can tell you, but how do you complete one?
Company search providers (also known as company credit report providers) create company credit reports and company director reports that provide all the information that we’ve touched on for a small fee. Normally all you need to do is type the name of the company or director that you’re interested in - you can then purchase the company credit report (or in some cases view a free version of the report, with some information held back until you pick up the paid-for version).
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