Registered address for a business

Discussion in 'Growing and Managing a Business' started by andym9, May 9, 2010.

  1. andym9

    andym9
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    Hi ,
    I am not a business-minded person , so please forgive me if this question sounds naive.
    I have a relative who runs a small plant hire/farm machinery business from home, and he is forever shouting out how well he is doing and how much money he is making (which , knowing him, is a slight exaggeration of the real facts).
    Sometime during the past week or two , I have noticed the registered address of his business on his website has changed from that of his home to a different one ,although the contact phone number remains that of his home.. With a little help from google street view I tracked this address down to being that of a local building society. Under what circumstances would this be seen to happen?
    Is his business in trouble or is it likely it is his mortgage that has been defaulted on?
    It would be helpful if anyone can put me in the picture as i would like to be here as a sympathetic ear for him , but don't want to go wading in making assumptions?
    Many thanks for any advice
     
  2. GekiDan

    GekiDan
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    Welcome to BAF, andym9, and thanks for posting your queries here,
    Just a quick question first, have you already tried to ask to your relative, personally, why is the address different?
     
  3. andym9

    andym9
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    Thanks for the welcome.
    No I havent approached him as yet , he is the type that would never admit to friends/family that anything was wrong , and the type that would maybe take offence that anyone would question the state of his business.I was just concerned , as I have heard he has recently sold some of his plant equipment , either enforced or for other reasons.
     
  4. seanstevens

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    In reality your registered address can be anything and most small companies will try to avoid it being the trading address or home address of the owner. The reason is that it goes on the credit files and you do not want everyone seeing that address. A lot of people change the registered address to that of their accountants, solicitors or even pay a small yearly fee to have a new "dummy".

    Not knowing what services the building society offer, it could be as innocent as one of the services they offer. I cannot be 100% sure obviously, but if it was anything more sinister. Building societies are not known for taking over companies. If it was a charge over assets or a mortgage, they would have no reason or legal need to move the registered to their own.
     
  5. Fergal

    Fergal
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    Welcome to Business Advice Forum andym9. What country is the business located in?
     
  6. andym9

    andym9
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    Sean , thanks for the information , appreciated.

    Fergal , the business is in England
     
  7. seanstevens

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    Feel free to drop me a PM with the company name.. I will see if there is anything on record at the credit agencies.
     
  8. seanstevens

    seanstevens
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    Information sent; on the surface does not appear to be anything to worry about at this stage.
     
  9. GekiDan

    GekiDan
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    Are you related to any credit agencies in England?
     
  10. seanstevens

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    I've spent the last 15 years in the credit industry and have many contacts in the agencies. Part of the services I offer are credit reports and credit management services.
     
  11. andym9

    andym9
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    Sean , thanks for taking the time to help out , appreciated .
     
  12. Fergal

    Fergal
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    andym9 I'm delighted to hear that you received the help you required from our business forum (thanks Sean) and I hope that we will see some more posts from you. Please be sure to let us know if there is anything else we can help you with.
     

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