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Form B1 filing with CRO

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  • 20-05-2007 10:55am
    #1
    Blowback
    Closed Accounts Posts: 28 ✭


    Hi,

    I have question regarding Form B1 filing with CRO.

    Situation is this, Limited compamy filed B1 with Abridged accounts etc. upto date with CRO. Now company no longer trades but is left with 1 asset (property).
    We are required to file Form B1 what accompany's form B1 now on filing as there are no transactions in the company or accounts to prepare?
    Mnay thanks for your help in the past.


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    #2
    MartMax
    Registered Users Posts: 1,667 ✭✭✭MartMax


    Hiya

    In normal cases, all B1 MUST be filed with a set of accounts, regardless of its trading position. Yes, the company need to prepare a set of accounts. If it avails audit exemption, it is easier. Otherwise, find an auditor to get it audited and prepared in format accepted by CRO.

    Marty


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    #3
    information
    Closed Accounts Posts: 362 ✭✭information


    Blowback wrote:
    Hi,

    I have question regarding Form B1 filing with CRO.

    Situation is this, Limited compamy filed B1 with Abridged accounts etc. upto date with CRO. Now company no longer trades but is left with 1 asset (property).
    We are required to file Form B1 what accompany's form B1 now on filing as there are no transactions in the company or accounts to prepare?
    Mnay thanks for your help in the past.

    Just do up a set of accounts for current financial year end with all 0 entries.
    Add them to previous years P&L and submit.


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    #4
    Blowback
    Closed Accounts Posts: 28 ✭Blowback


    Hi,

    That is great many thanks.

    Company is Audit empt.


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    #5
    deebm
    Closed Accounts Posts: 11 ✭deebm


    make sure the B1 is not late as if it becomes late you loose audit exemption.

    You can file a B73 with a current B1 which means you need no accounts for the current B1. You change the date from existing B1 date to later date maximum extension 6 months and new date then requires B1 and accounts.

    However the date of the accounts must be within 9 months of B1 date

    For eg. existing B1 date is 31.05.07 due for filing 28.06.07

    File B1 to 31.05.07 with B73 before 28.06.07 extending the ARD to 30.11.07

    Then file B1 to 30.11.07 prior to 28.12.07. the 2nd B1 will need accounts for period to 28.02.07 at earliest, so if your prior years accounts were to 31.12.05 you would now do accounts for 14 months to 28.02.07 not to 12 months to 31.12.06.

    Hope this makes sense. If not you probably need an accountant


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