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Version Superseded: 21/07/1993
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Companies Act 1985, Section 231 is up to date with all changes known to be in force on or before 23 August 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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(1)The information specified in Schedule 5 shall be given in notes to a company’s annual accounts.
(2)Where the company is not required to prepare group accounts, the information specified in Part I of that Schedule shall be given; and where the company is required to prepare group accounts, the information specified in Part II of that Schedule shall be given.
(3)The information required by Schedule 5 need not be disclosed with respect to an undertaking which—
(a)is established under the law of a country outside the United Kingdom, or
(b)carries on business outside the United Kingdom.
if in the opinion of the directors of the company the disclosure would be seriously prejudicial to the business of that undertaking, or to the business of the company or any of its subsidiary undertakings, and the Secretary of State agrees that the information need not be disclosed.
This subsection does not apply in relation to the information required under paragraph 5(2), 6 or 20 of that Schedule.
(4)Where advantage is taken of subsection (3), that fact shall be stated in a note to the company’s annual accounts.
(5)If the directors of the company are of the opinion that the number of undertakings in respect of which the company is required to disclose information under any provision of Schedule 5 to this Act is such that compliance with that provision would result in information of excessive length being given, the information need only be given in respect of—
(a)the undertakings whose results or financial position, in the opinion of the directors, principally affected the figures shown in the company’s annual accounts, and
(b)undertakings excluded from consolidation under section 229(3) or (4).
This subsection does not apply in relation to the information required under paragraph 10 or 29 of that Schedule.
(6)If advantage is taken of subsection (5)—
(a)there shall be included in the notes to the company’s annual accounts a statement that the information is given only with respect to such undertakings as are mentioned in that subsection, and
(b)the full information (both that which is disclosed in the notes to the accounts and that which is not) shall be annexed to the company’s next annual return.
For this purpose the “next annual return” means that next delivered to the registrar after the accounts in question have been approved under section 233.
(7)If a company fails to comply with subsection (6)(b), the company and every officer of it who is in default is liable to a fine and, for continued contravention, to a daily default fine.]
Textual Amendments
F1New s. 231 inserted (subject to the savings and transitional provisions in S.I. 1990/355, arts. 6–9, Sch. 2), by Companies Act 1989 (c. 40, SIF 27), ss. 1, 6(1), 213(2) as part of the text inserted in place of ss. 221–261 (as mentioned in s. 1(a) of the 1989 Act)
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