The Business Review and Directors Report - companies act 2006

[promostamper]

All company accounts, with reporting periods beginning on or after 1st October 2007, will have to include a Business Review.

The review must be a fair review of the company’s business within the particular reporting period and:

- has to be balanced

- must show a comprehensive analysis of the development of the business and performance

- a description of the principal risks

This fortunately does not include small company accounts.

[streetslocal]

Originally Posted by promostamper

All company accounts, with reporting periods beginning on or after 1st October 2007, will have to include a Business Review.

The review must be a fair review of the company’s business within the particular reporting period and:

- has to be balanced

- must show a comprehensive analysis of the development of the business and performance

- a description of the principal risks

This fortunately does not include small company accounts.

Yet more red tape for business owners

[JGOffshore]

This requirement does not apply to small companies.

For your information the definition of a Small Company is one which has:

1. an annual turnover of £6.5 million or less ;

2. total fixed and current assets on its balance sheet of £3.26 million or less; and

3. 50 employees or less.

I don't think that is going to apply to many (if any) of the businesses here!