Companies Act — changes to the reporting regime
The Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013, which came into effect on 1 October 2013, change the current narrative reporting framework under the Companies Act 2006. Under the new framework, companies will prepare a ‘strategic report’, which will be a separate part of the annual report and not simply a section of the directors’ report.
For all companies, the strategic report must contain a fair review of the company’s business and a description of the principal risks and uncertainties facing the company. The review must be a balanced and comprehensive analysis of both the development and performance of the company’s business during the financial year, and the position of the company’s business at the end of that year, consistent with the size and complexity of the business.
Some disclosures that were required under the previous ‘business review’ regime are no longer required — the requirements to disclose the principal activities of the group, the policy and practice on payment of creditors, charitable donations over £2,000 and the difference between the market value and balance sheet value of land…
If you are registered and logged in to the site, click on the link below to read the rest of the Walker Morris briefing. If not, please register or sign in with your details below.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Walker Morris
News from The Lawyer
Briefings from Walker Morris
A number of market features gives rise to an adverse effect on competition, says CMA.
The FBI ’Darkode’ arrests are just the tip of the iceberg. This briefing highlights risks to you in five key areas.
Analysis from The Lawyer
Which firms are cutting it in this era of slimline rosters, and who are the GC new brooms making clean sweeps? The Lawyer can reveal all
The law school war shows no signs of ending. But we have, perhaps, reached the end of the beginning.