Abridged accounts are a simplified set of financial statements that qualifying small Irish companies can file with the CRO instead of full accounts. They include a balance sheet and limited notes but omit the profit and loss account, meaning the public cannot see your revenue or profit figures.
What Are Abridged Accounts?
Abridged accounts are permitted under Section 352 of the Companies Act 2014. They allow small companies to file less financial detail on the public register. The key difference from full accounts:
- Included: Balance sheet, limited notes, directors' report summary
- Excluded: Profit and loss account, full directors' report, cash flow statement
This means competitors, suppliers, and the general public cannot see your turnover, profit, or detailed expenses — only your assets and liabilities.
Who Can File Abridged Accounts?
A company qualifies as "small" if it meets at least 2 of the following 3 criteriain the current and preceding financial year:
| Criterion | Small Company Threshold | Micro Company Threshold |
|---|---|---|
| Turnover | ≤ €15 million | ≤ €900,000 |
| Balance sheet total | ≤ €7.5 million | ≤ €450,000 |
| Average employees | ≤ 50 | ≤ 10 |
Micro companies can file even simpler "micro accounts" under Section 280D.
Who Cannot File Abridged Accounts?
- PLCs (public limited companies)
- Companies that are part of a group required to prepare group accounts
- Companies that hold a banking, insurance, or MiFID licence
- Companies that have lost their audit exemption due to late filing
What Can the Public See on the CRO Register?
When you search a company on Businesses.ie or on CORE, abridged accounts will show:
- Total assets and total liabilities (from the balance sheet)
- Share capital and reserves
- Whether the company claimed audit exemption
Revenue, profit/loss, and detailed expenses are not visible in abridged filings. Only the company itself, Revenue, and auditors have access to the full figures.
How to File Abridged Accounts
- Prepare financial statements in abridged format (your accountant will know the required layout)
- Include a statement that the directors have relied on the small company exemption
- All directors must approve and sign the balance sheet
- Attach the abridged accounts to the B1 annual return on CORE
- File within 56 days of the ARD
Abridged vs. Full Accounts: Key Differences
| Feature | Abridged | Full |
|---|---|---|
| Balance sheet | Yes | Yes |
| Profit & loss | No | Yes |
| Cash flow statement | No | Yes |
| Full directors' report | No | Yes |
| Revenue visible publicly | No | Yes |
| Audit required | Only if exemption lost | Yes (if above thresholds) |
Summary
Abridged accounts let qualifying small companies (turnover ≤ €15m, balance sheet ≤ €7.5m, employees ≤ 50 — meet 2 of 3) file a balance sheet without revealing profit and loss figures. They are filed with the B1 annual return via CORE. Companies that file late or exceed the thresholds must file full accounts instead.