CRO 2023 Annual Report

The Companies Registration Office has issued its annual report for 2023 and we have highlighted some of the main points from the report below.

Re-open of the office

  • The question of whether the office will re-open is still being kept under review however the CRO have cited that 96% of submissions were submitted electronically in 2023

Enforcement

  • Enforcement proceedings against companies with late annual returns recommenced in 2023 however it has been paused since January 2024 and is due to be re-commenced in 2024

PPSN for Directors

  • The requirement for directors to disclose their PPSN on certain filings was the biggest development for companies in 2023

Companies on the Register

  • 306,599 companies were in existence on the register at the end of 2023 with 519,048 submissions
  • 88% of the companies are Private limited by shares companies

Sec 343 Court Applications

  • 1,299 notices from companies to the District / High Court were received
  • 1,280 letters of acknowledgement/No Objection were issued
  • The CRO lodged objections in relation to 5 applications
  • 3 applications were refused by the Courts and 115 applications were adjourned to 2024

Unregistered Auditors

  • No reports of unregistered auditors attempting to file false auditors’ reports
  • 19 instances where auditors notified the CRO that their Auditors Registration Number (ARN) was used to file auditors’ reports without permission

Complaints & Requests for Info

  • 15 Official complaints received
  • 6 FOI and 5 GDPR requests

Company Incorporations

  • 22,384 new companies incorporated an increase of 950 new companies (+4.5%) compared to 2022
  • 2021 was the highest year for incorporations with 25,468 new companies

External Companies

  • 192 new external company registrations in 2023 41 from EEA companies and 151 from non-EEA companies
  • 3,337 external companies on the register at the end of 2023

Re-registrations

  • 393 companies re-registered as another company type in 2023 which is an increase on 361 in 2022

Change of Company Name

  • 2,230 company change of name were approved

Notification That Proper Bools Were Not Kept

  • 3 notices from auditors were received in 2023

Liquidations

  • 1,753 Member, 591 Creditors and 45 Court Liquidations were registered in 2023

Receiverships

  • 116 receivers appointed in 2023

Register of Restricted and Disqualified Persons

  • 5,229 persons on the Register of Disqualified Persons
  • 600 on the Register of Restricted Persons

Involuntary Strike Off

  • No companies had been struck off involuntarily in 2023

Voluntary strike Off

  • 6,227 companies were struck off voluntarily in 2023 which is a decrease on the figure of 6,376 in 2022

Restoration to the Register

  • 62 companies were restored to the register which is a decrease on the 96 restored in 2022
  • 38 by the High Court and 24 by companies within 12 months

Business Names

  • 19,752 new business names were registered in 2023

Limited Partnerships

  • 147 Limited Partnerships were registered in 2023 a decrease on the number registered in 2022 (182)

Income and Expenditure

  • €18.7 million was received by CRO in 2023 with €7.6m expenditure
  • €8.2m in late filing fees and €9.1m in submission fee

 

NB: The content of this article is provided for information purposes only and does not constitute legal or other advice.

 

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