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Author: ExoticGardener Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1083  
Subject: Overdue at Companies House, a problem? Date: 13/09/2004 10:03
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I've been thinking of using this company (NETWEAVER.COM) to host my Web site, but Companies House say their accounts have been overdue since 30th April.

Also, next to "Last Accounts Made Up To : 30/06/2002" it has "(TOTAL EXEMPTION FULL)" but I do not understand what this means.

I've already held off for 2 months. Given that I would have to pay for 12 months in advance, am I right in being concerned about their accounts?

http://ws6info.companieshouse.gov.uk/info/info.cgi?cname=NETWEAVER.COM%20LIMITED&cnumb=04168736&status=%20&id=1b54523e44e7eb7300d091dbac1d142b
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Author: RunTheNumbers Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 631 of 1083
Subject: Re: Overdue at Companies House, a problem? Date: 22/09/2004 16:12
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Hi ExoticGardener

but Companies House say their accounts have been overdue since 30th April.

A private company has 10 months to file accounts at Companies House. A failure to do so in most cases is not that serious provided they are filed promptly soon after. In this case a failure to file for nearly 5 months does suggest something more serious and you would be well to investigate further, perhaps asking them specifically why they have not filed.

"Last Accounts Made Up To : 30/06/2002" it has "(TOTAL EXEMPTION FULL)

Since 1994 certain small entities have been exempted from the need to have their annual accounts audited. They are also allowed to:

- File abbreviated accounts at Companies House;

- Prepare accounts that provide only limited directors' report and note disclosures;

- Take advantage of the exemption in FRS 1 from preparing a cash flow statement;

- Take advantage of the exemption from preparing group accounts.

A company qualifies as small if it fulfils any two of the following for the second consecutive year:

- Turnover not more than £5.6m

- Gross assets (meaning net assets before any liabilities) not more than £2.8m

- Employees not more than 50.

The "TOTAL EXEMPTION FULL" simply means that they qualify as a small company and therefore have not been audited (the "TOTAL EXEMPTION" bit), but the have still filed a full set of accounts (ie not abbreviated) (the "FULL" bit).

This is all a bit technical and I wouldn't worry too much about it.

The reality is that whoever is running the NETWEAVER.COM business may have set the company up to prevent any others setting up a company of a similar name, but then run the business as a sole trader, ie not through the company. The company then gets forgotten about and the filing deadline passes unnoticed. Quite simply the best way to go about finding further information is to approach them directly for an explanation, to ask for proof of financial solidity, and to obtain references from existing paying customers.

Hope this helps.

regards

RTN

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Author: madmadmax Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 650 of 1083
Subject: Re: Overdue at Companies House, a problem? Date: 04/10/2004 19:54
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That link does not work for me. Any idea why?

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