Section 1274 of Companies Act 2014 states that for an ULC, other than a Designated ULC, the financial statements of the company do not need to be filed with the CRO.
A ULC that is a parent of any an undertaking which was at that time limited is considered a designated ULC as stated by S. 1274(a)(iii) of the Companies Act 2014. Which means that financial statements should be filed with the CRO however, s. 1274(2)(2) states that this requirement to furnish financial statements in this instance shall come into operation on 1 January 2022. Therefore, the ULC Parent company will not be required to file financial statements with the CRO where there is a limited subsidiary until its accounting period begins on or after 1 January 2022 (so to prolong this it may make sense to change current year end to 30 Dec 2021).Where it does require to file accounts, the financial statements will need to be filed with the CRO. with the B1.
If the ULC has a wholly owned ULC subsidiary (assuming no Limited subsidiaries), then it would not on the face of it be considered a Designated ULC as per S1274 of the Companies Act 2014 which means that financial statements for this company would not need to be filed with the CRO. Instead the B1 is filed with no financial statements. If the Parent is audited then a Section 1277(1) auditors report will need to be included with the B1
In all of our responses we are assuming the ULC meets the conditions for a ULC such that it is not a designated ULC itself (ULC is not a sub of a limited co. where )