Small and Medium Company exemptions

Small company exemption

A company can avail of small company exemptions if two of the following criteria are satisfied in respect of the financial year in question:

  • The balance sheet total does not exceed €4.4 million
  • The turnover does not exceed €8.8 million
  • The average number of employees does not exceed 50

A small company is only required to file an abridged balance sheet and selected notes on the financial statements with the Companies Registration Office (CRO).

Medium company exemption

A company can avail of medium company exemptions if two of the following criteria are satisfied in respect of the financial year in question:

  • The balance sheet total does not exceed €7.62 million
  • The turnover does not exceed €15.24 million
  • The number of employees does not exceed 250

A medium company is only required to file an abridged profit and loss account, abridged balance sheet, selected notes on the financial statements and the directors report with the CRO.

Formacompany.ie Ltd
Blair House
Upper O’Connell Street
Ennis
Co Clare
Ireland