Companies with a smaller balance sheet, found early

Why earlier, factual visibility matters to turnaround advisers

The crowded part of the market starts at the formal notice. By then several advisers, creditors and claims firms have already written to the director, and the director has learnt to be wary. Turnaround advisers are generally better received when they arrive earlier, with a specific fact and a considered message, rather than after the publicity of a Gazette notice.

The value of an engagement is considerable. A Part 26A restructuring plan for a straightforward SME was estimated at £100,000 to £150,000 in the government's CIGA review interim report, as reported by Restructuring GlobalView. Most turnaround work is smaller than a formal plan, but the figure shows why a single well-timed instruction is worth a careful approach.

You can also choose where to focus. Turnaround advisers tend to have sector experience, and this page lets you filter by sector and region so each message can be specific and relevant.

What the signals mean

This page brings together dated facts from Companies House and other official public records. The first is that a company's latest filed accounts show a markedly smaller balance sheet than the year before. The second is that a formal process, such as administration, liquidation, a voluntary arrangement or receivership, has been recorded for the company. Each match shows the date of the fact, so you can refer to it accurately.

The records appear as the public sources are updated, and formal cases can take a few weeks to show up after the court or Gazette date. The accounts describe a past year, which may have ended well before the filing.

What these signals do not mean

A smaller balance sheet does not mean a company is in trouble. A dividend, or the sale of part of the business, can shrink net assets in a healthy way, so the signal is a prompt to ask, not a verdict. For companies with a recorded formal process, an insolvency practitioner has been appointed and decides what happens next, so the right contact is the practitioner, not the director. A match does not tell you that any sale, restructuring or rescue is available to you.

Because of this, keep the first contact neutral. Do not imply insolvency, and do not describe any arrangement as a rescue scheme. NewcoSignal provides data. It does not introduce directors to advisers, and it does not offer any rescue or advice service.

How to use it

• Set an alert. Save a search for the sectors and regions you advise and receive new matches by email.
• Filter by sector and size. Concentrate on the industries you know, and use company age to exclude dormant and very small companies.
• Reach by post or corporate email. A registered address is always available for a letter. Limited companies can be emailed as corporate subscribers if you identify yourself and offer an opt-out. Sole traders and ordinary partnerships need consent, and calls must be screened against the TPS and CTPS.
• Respect the profession's rules. Insolvency practitioners' codes restrict how appointments can be sought and marketed, including payments for introductions. NewcoSignal is a subscription data tool with no per-lead or success-fee pricing. Make sure your own outreach follows your regulator's rules and avoids anything that could read as harassment.

We do not provide email addresses or phone numbers. The public record holds a registered office and, usually, a named director. A short, discreet letter that names the filing and offers a conversation is a reasonable way to begin.