Limited Company Accounts Audit

speedyj

Hi,

I formed a Limited Company in 2009 around building a web business that didn't work out. I did my own accounts in TAS Books Basics and filed on-time for 2009, 2010.

I stopped operating the website and incurring expenses in 2011, i.e. I only have approximately 12 accounting entries for 2011. Through my own fault I'm now late with the 2011 returns (NARD was in Sept 2012) and therefore need the accounts audited. Once I've sorted this out I plan to get the company closed down.

Can anyone recommend where I could get this done at reasonable cost?

Thanks,
Jack

Bray Header

speedyj wrote: »

Hi,

I formed a Limited Company in 2009 around building a web business that didn't work out. I did my own accounts in TAS Books Basics and filed on-time for 2009, 2010.

I stopped operating the website and incurring expenses in 2011, i.e. I only have approximately 12 accounting entries for 2011. Through my own fault I'm now late with the 2011 returns (NARD was in Sept 2012) and therefore need the accounts audited. Once I've sorted this out I plan to get the company closed down.

Can anyone recommend where I could get this done at reasonable cost?

Thanks,
Jack

Hi mate,

Shouldn't be a big deal. Call your local accountant, and get onto the CRO. Your accountant will probably only take a couple of hours to audit you (maybe 100 euro), and you will fill out some CRO forms, should be straightforward, as long as you stopped incurring expenses and generating revenue.

PS - for future reference, any new venture like this, you should start as a sole trader or partnership, then when you start generating real revenue, avail of the protections of a limited company

speedyj

Bray Header wrote: »

PS - for future reference, any new venture like this, you should start as a sole trader or partnership, then when you start generating real revenue, avail of the protections of a limited company

That is excellent advice IMO, thanks!

Alan Shore

@brayhead do you know of auditors doing audits for €100? The level of file preparation that is required even in a small case like is very substantial. Expect a fee of €750 -€1000 plus VAT.

capefear

I agree with Alan, I have been getting quotes from Auditors over the years for what would seem as very easy straightforward Audits and the cheapest you are looking at is €1000 which would include VAT and then add on the CRO late fees on top of that. If you do get someone to do it for less than this and I've seen a lot of silly money been quoted on gumtree.ie for all types of Accounting services please be carefully that the person you use is legit because ultimately as a director the buck stops with you.

seco

I am a practicing accountant. pm your contact details to me and I will give you a quote and explain the basis for it.