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.
