Company Accounts and B1 Annual Return

If you are a sole trader, partnership, or a limited company in Ireland you are required to submit a set of company accounts accompanied by a completed form B1 to the Companies Registrations Office (CRO) at your financial year-end.

Your year-end accounts (also referred to as company accounts, financial accounts, and annual returns) should include your company’s financial statements – profit and loss, balance sheet, and notes to the account.

At Greavy & Co our expert team provides a friendly, reliable, and stress-free annual returns service with flexible appointment times and online consultations.

Year End Financial Accounts Testimonial

Our Year End Accounting Service

Outsourcing the preparation and submission of your annual return to a reputable accounting firm will alleviate the stress and worry that accompanies preparing and submitting financial paperwork for your business accurately and on time.

We are here to help you with any aspect of your year end company accounts requirements (unaudited).

Compliance with annual reporting requirements is very important in Ireland and can carry fines and penalties if your accounts are late or incomplete.

Our service will give you the peace of mind that your returns have been taken care of by a team of professionals, enabling you to start prepping your business for a profitable year ahead.

What is the Form B1 Return?

B1 is a document that must accompany your completed company accounts as part of your year-end returns. Form B1 contains details relating to your company registration and incorporation such as – your company registration number, registered address, directors and company secretary details, and details on shares and share transfers over the previous 12 months.

Year End Accounts Checklist

Your submitted annual returns are basically a summary of your business’s performance over the previous financial year and will include a profit and loss statement, balance sheet, and notes to the accounts.

Each set of returns must begin on the day immediately following the last date of the previous set of submitted returns.

What do accountants need for year end?

To compile your returns we will need;

  • business bank statements
  • expenses/ purchases for the business for the year
  • sales invoices/income for the year
  • record of any other business income

To submit your returns we will also need to complete a Form B1. To complete this we will need the signature of a company director and the company secretary.

Why choose us for your Year End Returns?

Outsourcing the preparation of your company annual returns to Greavy & Co will provide great relief from what is a typically time-consuming and stressful exercise for many business owners and company directors.

Our accounting services are for sole traders, partnerships, and limited companies in Dublin and throughout Ireland.

  • Take advantage of our broad market experience to ensure you make the right decisions for your business
  • Use us to achieve efficiencies within your existing finance team or outsource the entire process to us
  • Flexible packages enable you to choose a full (year-round) or partial (year-end) accounts preparation service – whichever is best for your business
  • Benefit from our years of experience and rest assured that all documents will be submitted accurately and on time.
  • Minimise disruption by partnering with a provider who puts your business first

If you need help switching accountants we can take care of the process for you.

Call now on 01 604 0011 for a free consultation.

Your Year End Accounts Questions Answered

  • Do all businesses need to submit year end accounts?
  • What is your financial year end?
  • Can I change my financial year?
  • Year End filing deadlines Ireland
Do all businesses need to submit year end accounts?

Yes, once you have taken the steps to incorporate a company you are obliged to submit an annual return to the CRO. Even if your company is not yet trading, is dormant, is not making a profit, or is non-revenue-generating you must still complete an annual return within your year end filing deadlines.

However you can turn this process into much more than just a box-ticking exercise. Use this data to:

  • Conduct a business strategy audit: Take stock of how far your business has come and plan where to go next.
  • Apply for funding: Submit a funding application as an individual or company director
What is your financial year end?

A financial year refers to a business accounting period of exactly 12 months with an allowed deviation of no more or no less than seven days (+/- 7 days) since your last reporting year ended.

Most Irish companies have year ends on 31 December. However, your financial year end does not need to coincide with the calendar year end. Your company directors (for limited companies) usually decide on a year end date. Tax reporting and other compliance deadlines will usually influence this date.

If you are a start-up business your year end must be within 18 months of your date of incorporation.

Can I change my financial year?

Yes, under normal circumstances, you are permitted to change your year end once every 5 years.

You may change the date for the current or a previous financial year – provided that the filing deadline has not passed. No financial year is permitted to be more than 18 months so your new date will have to take account of these restrictions.

You will need to submit a Form B83 with the relevant application fee if you wish to request a change to the financial year for your company.

Year End filing deadlines Ireland

How long after year end are company accounts due?

The CRO will send an email reminder 6 weeks before your returns are due. Watch out for this email and do not forget the date. Missed filing dates carry heft fines and penalties

Bear in mind that compiling your accounts can be a time-consuming process so make sure to give your accountant plenty of notice.