Limited company with late filing fee

babystrawberry

Just wondering has anyone come across this before/experience with similar issue?

Limited company that was active between Feb-Aug 2008. It was then unregistered from the Revenue in Aug 2008. Has been sitting dormant since then with an annual return submitted each year.
There are no creditors to this company.

It has now been filed with late filing fee for annual return not being received (responsible person completed B1 online and sent on signature page, however did not use registered post and has no proof of sending; CRO claim they have not received it).

Subsequently, company now has to submit audited accounts with late filing fee as well as completing the B1 form.

Should this company not pay the late filing fee and not submit the audited accounts; what would the potential outcome be? Could the director/secretary of the company be brought to court.

Please not that this was a very small company and was just set up to allow me contract into a company to work and pay myself from it.

I am just wondering has anyone come across this type of thing before? I am aware no one can actually tell me what to do in the situation.

Andre Salmon

If you don't file the annual return the CRO will eventually strike it off.
The directors of the company will still be linked to the struck off company
The ODCE, Office of the Director of Corporate Enforcement may pursue the directors through the courts.
Once that happens you are disqualified from being a director for 3-5 years.

Its probably in your interest to submit audited accounts.
As the company isn't trading it shouldn't cost too much.

babystrawberry

OK, thanks Andre for that. I was hoping it wouldnt cost too much but I am getting quotes in the region of 600-800 euros for preparing audited accounts.
Thanks again

Andre Salmon

That seems a bit steep for a non trading company, keep shopping around and you might get a better quote

Alan Shore

Clearly neither of you understand the level on information that an auditor has to prepare to complete an audit file.

Audit file are subject to monitoring by the relevant institute and personally I'm not interested in putting a practice at risk for that fee. You need to pay the fee and file the audited accounts and the apply to have the company struck off.

http://www.odce.ie/en/court_insolvencies_article.aspx?article=e548b76a-39d9-494b-b84d-1f087bd91938

dbran

Much more recent examples here.

http://www.odce.ie/en/court_disqualifications.aspx

Andre Salmon

I am aware of audit requirements.
I would not expect a non trading company as described above to need significant audit work performed.

babystrawberry

Alan Shore wrote: »

Clearly neither of you understand the level on information that an auditor has to prepare to complete an audit file.

Audit file are subject to monitoring by the relevant institute and personally I'm not interested in putting a practice at risk for that fee. You need to pay the fee and file the audited accounts and the apply to have the company struck off.

http://www.odce.ie/en/court_insolvencies_article.aspx?article=e548b76a-39d9-494b-b84d-1f087bd91938

No problem Alan, I wasnt personally asking for a quote from yourself. I am looking for advice on the matter.

babystrawberry

dbran wrote: »

Much more recent examples here.

http://www.odce.ie/en/court_disqualifications.aspx

Thanks dbran. In relation to that list of companies being disqualified, is that because they did not pay filing fees/submit audited accounts? The responsible people have been disqualified. WOuld tey ave been brougt to court if the had no creditors to the company or would te have received another fine?

dbran

I believe it would only arise if the company owed money to someone or if there was some wrong doing done by the directors in abandoning the company and not filing the returns. In that case, if it is reported to the ODCE by the injured party they may decide to prosecute.

If the company is dormant as you say then the chances of a prosecution are remote but not impossible.