Ltd Company Check with DataEco

 So why do we have Limited companies and what is the difference?

A ‘Ltd’ or ‘Limited’ company is setup to allow a set of liabilities and responsibilities of the organisation to be separated from an individual. There are 4 types of limited companies which are split across ‘Limited by Shares’ and ‘Limited by guarantee’.

Private Limited by Shares:

Limited by shares are companies that usually make profit. These companies are legally separate from the people who run it.

Private Limited by guarantee:

Limited by guarantee companies are usually not for profit. This company will have guarantors with a set guaranteed amount.

Private unlimited company:

A private unlimited company may or may not have shares capital but there is no limit to its members liability.

Public limited company:

A Public Limited Company or PLC for short, has a share capital and limits each member to an amount of unpaid on the shares. It may also offer its shares for sale on the stock exchange.

With these company types there is also a great perception that a company itself not the individuals who run them are solely accountable for any legal actions against them. Therefore, because the directors and owners cannot be made accountable, they often hide behind the company name when things go wrong.

Therefore, when you check ltd company you need to assess the financial risk of the business but also the credibility of the individuals who run it. Searching for true, accurate, and up-to-date data can sometimes be challenging? DataEco makes it easy, fast, and painless to get an accurate picture of the companies you are in bed with.

The data is acquired from regulatory sources and we up-date our Risk Index associated with a company on a daily basis. We take the financial ratios of a company and compare them to the average within their industry sector. We then increase index points for courts appearances, public notices and use sentiment analysis for social feeds to highlight the any stories of interest.

We also increase our index points for a company if a director has been with a previous company that has gone into administration or liquidation.

There is, however, a disqualified register of directors which is held by company’s house which shows which people are not allowed to run or own companies. We do use this data, but we find the people who do get disqualified are more like repeat offenders for smaller companies.

The Ltd Company Check is one of the capabilities we can do on the DataEco platform with just a few clicks. If we use the Full Search navigation, we can simply select the Risk Filter of ‘Medium’ or ‘High’ to highlight companies in your industry or Location that you are concerned about.