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Financial Statements for Second and Subsequent B1 Annual Return to CRO

We understand that starting a business can be challenging. Our fees are affordable and come with excellent customer service.

Overview

Welcome to Chern & Co , your comprehensive solution for Financial Statement preparation and submission to the Companies Registration Office (CRO) in Ireland. Our services are tailored to ensure your business complies with all regulatory requirements, whether you are a small enterprise or a large corporation.

Who is this Service for?

Financial Statements are the mandatory document which every company should submit to CRO along with the Annual Return.

  1. Companies with audit exemption may submit unaudited statements, while larger companies or those failing to submit Annual Return to CRO on time must submit audited statements.
  2. It is important to start the preparations immediately after the end of the financial year. That means starting to collect and save all the necessary commercial documentation that the accountant team would request.

What You Get When Opt for Financial Statements Preparation for Second and Subsequent B1 Annual Return to CRO:

B1 Annual Return Filing: Efficient filing of your Annual Return to CRO, including a €20 CRO fee.
Customised Financial Statements: Preparation of financial statements starting at €450, with pricing varying based on the complexity and number  of transactions.
Financial Documentation Management and comprehensive documentation support: Assistance in gathering and organising necessary financial documents, including income and expense records, bank statements, asset and liability information, payroll records, tax documentation
Audit Exemption and Audited Statement Assistance: Expertise in handling both unaudited statements for companies with audit exemptions and audited statements for larger companies or those late in submitting their Annual Return.
Additional Services: Additionally, you can opt for assistance with depreciation schedules, legal and compliance documents, notifications of business activity changes, and miscellaneous document management.

Why Choose Chern & Co

Expertise: Our team of seasoned accountants specialises in adhering to and navigating Irish financial regulations, ensuring meticulous compliance and accuracy.
Timeliness: We emphasise the importance of starting preparations early. We start immediately as per request or 1-2 months before the due date.
Persolase approach: Services are tailored to your company’s specific needs, from simple to complex financial scenarios.
Transparency: Clear breakdown of costs with no hidden fees, ensuring you understand every aspect of the billing.

How to Get Started?

To facilitate the smooth completion of your financial statements, kindly provide the outlined documentation at your earliest convenience. 

  • Detailed records of all income sources.
  • Comprehensive breakdown of business expenses.
  • Copies of all relevant bank statements for the financial year.
  • Documentation related to assets, such as property, investments, or equipment.
  • Details on any outstanding loans or liabilities.
  • Records of employee salaries, taxes, and other related payroll information.
  • Relevant tax filings and documentation.
  • Any correspondence with tax authorities.
  • Information on asset depreciation, if applicable.
  • Any legal agreements or contracts relevant to the financial statements.
  • Compliance-related documents.
  • Notification of any significant changes in business operations during the fiscal year.
  •  Any other documents that may be pertinent to the financial statements.
  • Please identify all the transactions with related parties.

Timely provision of these materials will greatly assist in the efficient and accurate completion of your financial statements.

How Much Does it Cost to Prepare Financial Statements for Second and Subsequent B1 Annual Return to CRO

The cost of financial statements preparation starts at 450 EUR and may and may increase depending on the amount or volume of primary documentation involved. for the reporting period. Details are provided below:

  • For companies with zero transactions during the reporting period: €450
  • Micro & Small Business: Up to 50 transactions per month – €550
  • Medium-Sized Business: Up to 150 transactions per month – €750
  • Intermediate-Sized Business: Up to 500 transactions per month – €1000
  • Large Business: Over 500 transactions per month – Cost determined based on the specific case.

Please note all prices are subject to an additional 23% VAT.

Contact us today to ensure your company’s financial compliance and peace of mind.

Financial Statements for Second and Subsequent B1 Annual Return to CRO

What’s Included:

  • Expert preparation of financial statements for second and subsequent B1 annual return filings with the CRO
  • Ensuring compliance and accuracy for your company’s records

What You Need To Know

Frequently Asked Questions

Setting up a company in Ireland carries plenty of benefits. These are the smooth process of annual returns submission, low Ireland corporate tax rate (lowest in the EU), official documentation in English, access to the European market, the brilliant reputation of Ireland as a business-friendly country, availability of progressive and educated workforce.

It takes just a few hours to fill in and prepare necessary company documents and forms. Once documents are submitted to the CRO, it usually takes 3-5 days to issue a company registration number. Due to the impact of Covid-19, the Companies Registration Office may process applications for up to 2 weeks.

Yes, there is no need to physically come to Ireland to set up a company. Certainly, you are more than welcome to visit the country. It’s beautiful! Forms are uploaded digitally using scanned pdf files of original signatures. Please note, CRO does not accept digital signatures done by typing a name or drawing a signature.

A company is a legal entity separate and distinct from those who own or run it. In order to incorporate a company a Form A1 shall be filled in and submitted together with a Constitution to the Registrar of Companies with scanned signed originals. Anyone can register a company themselves. However, it is advised to use a professional to ensure compliance with the Companies Act 2014. Each company must have a director and a secretary, must carry business in the state and have a registered office address in Ireland.

Limited company is a separate entity from a legal person. Ltd companies are limited by shares. If business is liquidated, the company’s liabilities are treated separately to those of its shareholders and directors, in a way, protecting them from debt and financial losses of the business itself. Partnerships, on the other hand, have limited and unlimited partners who are treated as legal persons. Unlimited partners are responsible for all debt and liabilities accrued by the business.

A company can be closed or wound up by a process called Voluntary Strike-Off. This is a quick and easy way to dissolve the company without any consequences for the founders and directors. Both trading and non-trading companies can be closed. The main criteria for eligibility would be no debts and no assets above €150. If this condition is not met, the company shall be liquidated or will be struck off the register by CRO by a process called Involuntary Strike Off with possibility of fine. Book in a free consultation to discuss winding up of your company.

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Chern & Co team offers Registered Office Address, Business Address, Company Secretary, Nominee Director, Nominee Shareholder and other professional services to international customers who need to set up a branch or present in the European Union.

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Chern & Co Ltd
18 Mallow Street Upper
Limerick
V94 N12Y

Office Hours

Monday to Friday
9 am – 5 pm

Company Registration: 604324

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