Accounting & Taxation
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Annual Accounts

All businessess, Limited Liability companies and sole traders must prepare annual accounts. The Annual accounts should be used as a major part of the ongoing expansion of a business.

At William Halpin & Co we guarantee that ALL accounts are completed within 3 months of the respective year end. Annual Accounts prepared just to comply with the Tax filing deadline after year end do not help with business planning as they are almost 6 months too late, in our opinion.

There are strict deadlines for Companies Corporation Tax Returns (Form CT 1) and Companies Registration Office Returns (B 1).

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Audit Exemption

The most critical issue with CRO financial statements is that the Companies first annual Return Form B1 must be submitted to CRO within 6 months of Incorporation and the second return within 18 months of incorporation.

If the submission deadline is missed, then a Statutory Audit must be done for the 2 following years.

William Halpin & Co, are Statutory Auditors and can carry out the Audit engagement under terms agreed with the client.

Suffice to say that Audit Exemption should be preserved if at all possible.

During the course of an unavoidable Audit we will be working closely with the company directors. At the end of the audit we will be issuing recommendations to rectify any issues that arose during the course of the audit. Similarly, we aim to get the company accounts completed as close to the year end as possible. This means that the results as shown on the accounts are timely and accurate and will be more meaningful to the directors.

If you are a Director of a Community organisation whose legal format is a Company Limited by guarantee and you are looking for advice we will be glad to meet you or your committee at a suitable time.