This concession was discontinued on 31/12/2011 and if any return accompanied by amalgamated accounts is received by CRO on or after 1 Jan 2012, same is liable to be rejected by CRO and individual accounts required before the return can be accepted for registration
WITH EFFECT FROM 31 DECEMBER 2011, THIS EXCEPTION IN RESPECT OF AMALGAMATED ACCOUNTS HAS BEEN DISCONTINUED AND CRO IS NOW GIVING NOTICE THAT AS OF THAT DATE, AMALGAMATED ACCOUNTS WILL NOT BE ACCEPTED IN ANY CIRCUMSTANCES.
Please note that this notice refers only to presenters lodging amalgamated accounts with CRO; ie filing the one / same set of accounts with more than one annual return. It has no impact on the existing requirements under the Companies Acts as to the minimum or maximum length of time that accounts can be prepared for. It simply confirms that, as and from 1 January 2012, an individual set of accounts is required to accompany each annual return that is received by the CRO.
As of January 2012, a separate set of accounts is required to be filed in respect of each financial year of a company. This is in order to ensure compliance with the 4th Company Law Directive 78/660/EEC of 25th July 1978 which contemplates individual sets of accounts for each financial year.
The effect of the foregoing is that each annual return received by CRO on or after 1 January 2012 is required to be accompanied by a set of accounts for a financial year ending not earlier than nine months before the effective date of the return, which set of accounts covers the period since the end of the period covered by the accounts that were annexed to the company's preceding annual return.
It should be noted that the foregoing equally applies from 1 January 2012 to dissolved companies being restored to the register, whether on Form H1/H1R/H1-OMC or via court application for restoration, where the restoration is pending as at 31 December 2011.