Financial statement

egizz983 · 10-10-2023 11:25am #1

Hello have a question on how to prepare financial statement for annual returns when company is not trading and have no financial information at all ?

SureYWouldntYa · 10-10-2023 3:17pm

If there is no activity and no bank account opened then it is just a nil set of accounts, prepared with the disclosures in line with FRS 105. Only possible activity is the share capital owed by the director to the company.

egizz983 · 12-10-2023 8:04pm

when filling B1 form its asks me financial statement though i called few companies around they want 600+vat just to file B1

SureYWouldntYa · 13-10-2023 9:47am

https://www.boards.ie/discussion/comment/121230087#Comment_121230087

Yes that's the going rate and you have to provide financial statements with a B1 (other than the first B1 due after six months) even if they are nil. While there might not appear to be much work involved in preparing a set of nil accounts there is a lot of admin work that goes into onboarding a new client (AML, due diligence etc) that means it's not as simple as it might seem

Alan_007_ · 13-10-2023 4:39pm

To add to the previous comment, if you file your annual return late then your next two years' accounts will need to be audited. So if you're under pressure for time then €600 now is the cheapest option.

egizz983 · 13-10-2023 5:50pm

https://www.boards.ie/discussion/comment/121231458#Comment_121231458

yes i have financial statement as well the problem i am not sure about the dates as it gives me errors when filling

i have financial statement for 2022 as 2023 is not yet passed company was also incorporated 2022 so i am not sure what this form wants financial state for 2022 or for 2023 .

SureYWouldntYa · 13-10-2023 11:17pm

Just enter the actual financial year end, and so long as it's within 9 months of the ARD you will be fine

Financial statement

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