Board Minutes – First Meeting Of The Board Of Directors 
Once a company has been incorporated, a board meeting with the directors of the new company should be held (even if there is only a sole director). This meeting should be held soon after the company has been incorporated and, in any event, best practice is that it should be held at least within 30 days of incorporation.
It is a legal requirement to record who is present at the meeting and what is discussed as well as keep and store the minutes of all board meetings for at least 10 years after the date of the board meeting. Copies of resolutions passed at these meetings must also be kept.
The purpose of this meeting is to officially discuss the business administration of the company as well as for each director to formally endorse the memorandum and articles of association of the company.
These template board minutes set out the basic administrative formalities that should be included, for example confirming the company name, registered office address, directors, share capital and people with significant control, accountants, auditors, accounting reference date etc. These details can be added to or reduced depending upon what is relevant for each individual company.
Considering the introduction of the Economic Crime & Corporate Transparency Act 2023 (ECCTA), additional requirements have been included, such as confirming that the company’s registered office address is “appropriate” and including a company email address. Further details regarding the ECCTA can be found here.
These minutes refer to HMRC registration for VAT, payroll and corporation tax purposes. Customers should seek relevant tax advice.
Optional phrases / clauses are enclosed in square brackets. These should be read carefully and selected to be compatible with one another. Unused options should be removed from the document.
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Board Minutes – First Meeting Of The Board Of Directors is part of Corporate Documents. Just £35.00 + VAT provides unlimited downloads from Corporate Documents for 1 year.