Regulation of Limited Liability Companies
The Companies Acts 1963-2012 impose a number of regulations on limited liability companies to file returns and other required documents with the Companies Registration Office within strict deadlines. We provide a full range of Company Secretarial Services to ensure you comply with these regulations.
To avoid penalties and possible termination of your company due to missed deadlines, secure our services to provide a full range of Post Registration and Company Secretarial Services that meet these requirements.
Notification of filing requirements and deadlines
- If we have registered your limited company, O’Mahony Donnelly will contact you to discuss any filing requirements and if you will require any of our post registration services.
Annual General Meeting
- Section 148(1) of the Companies Act requires that the directors of a limited company hold a general meeting within 18 months after the incorporation of the limited company and at least once in every calendar year thereafter. The annual accounts of the company are presented at the annual general meeting.
- We will prepare minutes of the limited company’s annual general meeting and other documentation of any other resolutions made at the annual general meeting.
1st Annual Return
- This is due within 6 months and 28 days after incorporation but does not contain any financial information, which attaches to the 2nd Annual Return 12 months later.
2nd Annual Return
Preparation and submission of Annual Return, along with required documents, such as:
Companies are required to keep proper books of account which give a true and fair view of the company’s financial affairs. Companies are also required to disclose details of their accounts at the Annual General Meeting (AGM) and to attach a copy of those accounts to the annual return filed with the CRO. In addition, they are required to observe certain standards in the preparation of accounts, following specimen formats and disclosing certain information by way of notes to the accounts. (Source: Companies Registration Office)
- Auditor’s Report
An Auditor’s Report is required unless the limited company is eligible to avail of an audit exemption.
- A missed deadline will result in late filing penalty and loss of audit exemption availability and may ultimately result in prosecution of company directors and strike off of the limited company.A company may be struck off the register and dissolved for failure to file an annual return. If a company is struck off, the assets of the company become vested in the Minister for Finance, and if the business continues to trade, the owners will no longer enjoy the benefit of limited liability and so are personally responsible for any debts incurred so long as the company remains dissolved. Any person, who was a director of a company at the date of sending to that company of a strike off notice due to the non-filing of annual returns, may be disqualified from acting as director by the High Court, where the company is struck off leaving outstanding liabilities. Such order may be made by the Court on the application of the Office of the Director of Corporate Enforcement. (Source: Companies Registration Office)
Mortgages & Charges
- Details of certain mortgages or charges created by a company must be delivered to the CRO and registered within 21 days of creation of the charge. Failure to register the charge within 21 days of its creation has the effect of making the charge void against a liquidator of the company and any creditor of the company.
We will prepare and file the documentation required for:
- Address Change
- Officer Change
- Name Change
- Change to Type of Limited Company
- Register Location
- Share Capital Change
- Changes to Memorandum of Association & Articles of Association
Regulation of Termination of Limited Company
We will advise on the consequences of the various ways to terminate your limited company. The method used will impact on the liabilities of the company and its officers.
- Voluntary Strike Off
- Reinstatement of Struck Off Companies