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The Impact Of New Legislation On UK Financial Statements

With effect on financial statements commencing the 1st January 2016 onwards, statutory instrument 2015/980 is changing the format of UK accounts.

Let’s look at the main changes for small companies:

  • Small company accounting sizes have raised substantially. This also applies to audit exemption levels.
  • Small Company accounts disclosure requirements are simplified significantly.
  • Abbreviated accounts are abolished although small companies will be able to prepare ‘abridged’ accounts for shareholders and for filing at Companies House. There is no change to the exemptions previously existing for filing accounts in Companies House.

The new size limits for small companies are as follows:

  • Turnover less than £10.2m
  • Gross balance sheet total less than £5.1m
  • Less than 50 employees

Details of some of the disclosure requirements removed Read more

Posted on June 20, 2017 by Cooney Carey


Changes To Companies Registration Office Filings

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Effective from 1st June 2017, Companies Registration Office (CRO) are changing the method by which they will accept submissions of certain documents submitted to the public record. From that date, mandatory electronic filing will apply to the following submissions to be made to the CRO:-

Form B1 – Annual return including financial statements and electronic payment

Form B2 – Change of registered office

Form B10 – Change of director and/or secretary, or in their particulars

Form B73 – Nomination of new annual return date

From 1st June 2017, CRO will not accept versions of the above documentation that are submitted in non-electronic format.

Should you have any queries in relation to the above, please do not hesitate to contact Mary Flanagan of Cooney Carey Consulting for assistance.

What Questions Do You Have?

We are happy to help. Please post your comment below or call Mary Flanagan on 01 677 9000. Alternatively, send us an email: info@cooneycarey.ie

To keep in touch, connect with our friendly team on LinkedIn.

If this article helped you, please share it with other businesses.

Posted on May 10, 2017 by Cooney Carey


Paperless Litigation – A Welcome Development

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The Supreme Court has just run the first paperless litigation case in Ireland.  The appeal case of Lanigan v Barry in June 2016 was conducted using the eCourt App, using documents that were scanned and uploaded to tablets instead of the usual lever arch folders of paper documents.

The eCourt App was developed by Irish technology company eCúirt Teoranta.  The system allows for pleadings and other court documents to be scanned and uploaded to tablets, where they can be searched electronically and private annotations can be made.

It was reported that the paperless hearing took place “without a glitch”.  This is despite the fact that the Four Courts in Dublin does not Read more

Posted on May 6, 2017 by Cooney Carey


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