Difference Between Filed and Certified Accounts

loveandlight

Does anyone know the difference (if any) between a set of filed accounts and a set of certifed accounts?

I am in the process of applying for a small business loan to buy a business from a company that is limited. I am just buying the business assets, not the company itself. The lenders requirement is that I supply three year set of filed accounts. The sellers have given me three year set of accounts with their accountant having certified them to be true copies. True copies of what? I was expecting the accounts to be signed by the seller but they aren't. Do they need to be signed? Any input would be very much welcomed as this is all new to me! Thanks.

Bean_Counter

I would take filed accounts to be ones that have been filed at Companies House, complete with signatures and company registration number. This of course assumes that they are a registered company.

From your description, they are merely certifying that accounts are true copies. It could well be that they are a sole trader / partnership and not needing to file Companies House accounts.

I would imagine that since the accounts are certified by an accountant (hopefully a registered one) then that would be OK for the lender. Best thing to do is to check if they are a registered company or not and then advise the lender accordingly when sending them the accounts.

loveandlight

Many thanks for your very helpful reply Bean Counter. The seller is a limited company so I have amended my first post to mention that bit. None of the accounts they have given me have been signed by the Directors ( there are two of them). Just their accountant has signed to say they are true copies but IMO this is still not good enough, because the accountant is merely saying they are true copies of the original and the originals may not have been the filed ones IYSWIM.

I think I will write to them tonight and tell them I need copies of accounts for the past three years showing the directors signatures on them.

Debt_Free_Chick

loveandlight wrote: »

I think I will write to them tonight and tell them I need copies of accounts for the past three years showing the directors signatures on them.

And the signature on the Auditor's report.

It could be that they are being a little lazy. Rather than photocopy the actual signed accounts (as filed) they have simply printed off the final file saved on the PC.

Have you looked at the record on Companies House? Click on Webcheck

If you then click on Order Information About this Company, you can get a copy of the last filed accounts for £1.00. Not exactly what you want, but it may give you some comfort ..... and something to be going on with.