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.
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.
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.
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.
To compile your returns we will need;
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.
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.
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.
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:
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.
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.
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.