Board Minutes – Approval of Statutory Accounts

IN LIGHT OF THE ECONOMIC CRIME & CORPORATE TRANSPARENCY ACT 2023, THIS TEMPLATE IS CURRENTLY UNDER REVIEW. 

Every company, whether trading or not, must keep accounting records. The directors are responsible for preparing the accounts for each financial year.

As there is no longer any statutory obligation on private companies to lay their accounts before members at a general meeting, these board minutes can be used for the board to approve the company’s annual accounts and reports for the most recent financial period without calling an AGM.

What these board minutes do

These minutes provide a formal record of the board’s approval of the annual statutory accounts and accompanying reports for the relevant financial year.

When these minutes are typically used

• when the directors are approving the annual accounts for the most recent financial period; and
• where the company does not need (or does not intend) to approve the accounts at a general meeting.

Board Minutes – Approval of Statutory Accounts is part of Corporate. Just £38.50 + VAT provides unlimited downloads from Corporate for 1 year.