ABSTRACT
An equipment hire or rental concern, like any other, usually has limited liability status, with either private or publicly quoted shares (PLC), depending upon its ability to secure a quotation on the Stock Exchange. A limited company, irrespective of its size, must file its annual financial accounts with the Registrar of Companies. To ensure that these give a true and fair view of the company’s trading position, they are subjected to an annual audit by an independent firm of approved professional accountants. If the enterprise, on the other hand, is a subsidiary or department of a parent company, its trading position need only be included generally in the controlling company’s consolidated accounts.
