Insights

What Size is my Company/Group of Companies?

The Act has introduced “qualifying conditions” to determine whether a company or a group of companies is dormant, small, medium or large.  There are two categories of large company (or group of companies), which can be thought of as “large” and “XL”.

The table below sets out the qualifying conditions for each company/group size.  In order to qualify as a dormant company/group, both conditions in the table below must be met.  In order to qualify as a small or medium company/group, two of the three conditions listed below must be met for the specified timeline.  In order to qualify as a large or “XL” company/group, both conditions listed below must be met for the specified timeline.

QUALIFYING CONDITIONS DETERMINING COMPANY/GROUP 'SIZE'
SIZE QUALIFYING CONDITIONS QUALIFYING TIMELINE
Dormant
  • No “significant accounting transactions”
  • Assets and liabilities only comprise “permitted assets and liabilities”
  • The current financial year only.
Small
  • Balance Sheet not to exceed €4,400,000
  • Turnover not to exceed €8,800,000
  • Average number of employees not to exceed 50
  • The immediately preceding financial year and the current financial year.
Medium
  • Balance Sheet not to exceed €10,000,000
  • Turnover not to exceed €20,000,000
  • Average number of employees not to exceed 250
  • The immediately preceding financial year and the current financial year.
Large
  • Balance Sheet must exceed €12,500,000
  • Turnover must exceed €25,000,000
  • The immediately preceding financial year and the current financial year.
“XL”
  • Balance Sheet must exceed €25,000,000
  • Turnover must exceed €50,000,000
  • The immediately preceding financial year and the current financial year.

For further information regarding company/group size and the implications arising as a result of a company’s size please contact Paige Keating at cosec@reddycharlton.ie.


Keywords: Publication, Company Secretarial, Paige Keating

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