Companies urged to publish up-to-date financial information
Companies should consider the possible impact that filing accounts covering their performance during the recession may have on their credit ratings.
A raft of accounts is expected to be submitted to Companies House in September, largely from those firms with a year end of 31 December.
The information in the accounts for 2009 may show drops in turnover or profits as a result of the recession, which, in turn, may adversely affect their ability to secure a positive credit rating.
Businesses are being encouraged to publish more recent figures if their current position has improved or is stronger.
Fabrice Desnos, chief executive of insurers Euler Hermes UK, said that insurers and credit rating agencies will be scrutinising 2009 accounts, but that companies whose performances have rebounded should make this clear.
He said: “If they feel the information they are publishing in Companies House will reflect negatively on them and they have a better story to tell I can only encourage them to contact credit insurers.
“Every piece of information you publish is important. If you think it’s going to be detrimental you need a strategy to proactively explain that it’s better than it looks in your numbers.”