Dara Calleary (Mayo, Fianna Fail)
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A dormant club that is registered as a company under the Companies Act 2014 is required to submit an annual return to the Companies Registration Office, in accordance with section 343 of the Act. The annual return is made up of the B1 Annual Return form, the fee, the financial statements (where applicable) and the signature page.

A company may avail of a dormant company audit exemption if during the financial year in question it has no significant accounting transaction and its assets and liabilities comprise only permitted assets and liabilities (which are investments in shares of, and amounts due to or from, other group undertakings). The dormant company audit exemption is not subject to any company size criteria.

In addition, a dormant company that qualifies as a small company or micro company may also avail of certain exemptions and simplifications in the preparation of annual financial statements. A company qualifies as small company if it satisfies two of the following three conditions: a balance sheet total not exceeding €6m; turnover not exceeding €12m; Employees not exceeding 50. A company qualifies as a micro company if it satisfies two of the following three conditions: a balance sheet total not exceeding €350,000; turnover not exceeding €700,000; Employees not exceeding 10. Further information is available on the CRO website at cro.ie/en-ie/Annual-Return/Accounts-Requirements.