SCHEDULE 7MATTERS TO BE DEALT WITH IN DIRECTORS’ REPORT
PART 1MATTERS OF A GENERAL NATURE
Charitable donations5
1
If—
a
the company (not being the wholly-owned subsidiary of a company incorporated in the United Kingdom) has in the financial year given money for charitable purposes, and
b
the money given exceeded £2000 in amount,
the directors’ report for the year must contain, in the case of each of the purposes for which money has been given, a statement of the amount of money given for that purpose.
2
If—
a
at the end of the financial year the company has subsidiaries which have, in that year, given money for charitable purposes, and
b
it is not itself the wholly owned subsidiary of a company incorporated in the United Kingdom,
sub-paragraph (1) does not apply to the company.
But, if the amount given in that year for charitable purposes by the company and the subsidiaries between them exceeds £2000, the directors’ report for the year must contain, in the case of each of the purposes for which money has been given by the company and the subsidiaries between them, a statement of the amount of money given for that purpose.
3
Money given for charitable purposes to a person who, when it was given, was ordinarily resident outside the United Kingdom is to be left out of account for the purposes of this paragraph.
4
For the purposes of this paragraph, “charitable purposes” means purposes which are exclusively charitable, and as respects Scotland a purpose is charitable if it is listed in section 7(2) of the Charities and Trustee Investment (Scotland) Act 200530.