C1C2C4C6Part 15Accounts and reports
Pt. 15 applied (with modifications) (6.4.2008) by The Partnerships (Accounts) Regulations 2008 (S.I. 2008/569), regs. 4, 7, Sch. Pt. 1
Pt. 15 applied (with modifications) (1.10.2009) by The Unregistered Companies Regulations 2009 (S.I. 2009/2436), regs. 3-5, Sch. 1 para. 16 (with transitional provisions and savings in regs. 7, 9, Sch. 2)
Pts. 1-39 (except for Pt. 7 and ss. 662-669), 45-47 extended (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), art. 5(1), Sch. 1 para. 2
C3Chapter 5Directors' report
Pt. 15 Ch. 5 applied (with modifications) (6.4.2008) by The Insurance Accounts Directive (Miscellaneous Insurance Undertakings) Regulations 2008 (S.I. 2008/565), reg. 3
Directors' report
C5C7415Duty to prepare directors' report
1
The directors of a company must prepare a directors' report for each financial year of the company.
F11A
Subsection (1) does not apply if the company qualifies as a micro-entity (see sections 384A and 384B).
2
For a financial year in which—
a
the company is a parent company, and
b
the directors of the company prepare group accounts,
the directors' report must be a consolidated report (a “group directors' report”) relating to the undertakings included in the consolidation.
3
A group directors' report may, where appropriate, give greater emphasis to the matters that are significant to the undertakings included in the consolidation, taken as a whole.
4
In the case of failure to comply with the requirement to prepare a directors' report, an offence is committed by every person who—
a
was a director of the company immediately before the end of the period for filing accounts and reports for the financial year in question, and
b
failed to take all reasonable steps for securing compliance with that requirement.
5
A person guilty of an offence under this section is liable—
a
on conviction on indictment, to a fine;
b
on summary conviction, to a fine not exceeding the statutory maximum.
Pt. 15 applied (with modifications) (6.4.2008) by The Bank Accounts Directive (Miscellaneous Banks) Regulations 2008 (S.I. 2008/567), reg. 4, Sch. para. 1 (with Sch. para. 11)