Factsheet – Sole Directors

This month Simply-docs looks at the role of a Sole Director and has created a Factsheet on Sole Directors which examines the additional issues that need to be considered when a business is run by a sole director.

Private companies with only one director are very common; frequently the sole director is also the sole shareholder (known as an ‘owner managed business’). The huge advantage of being a sole director lies in the flexibility with which business matters can be handled. There are a few things to look out for, however, and our Factsheet covers the following areas:

• First meeting of the sole director
• Conflicts of interest
• Executing documents
• Employers’ liability insurance
• Appointing an additional director
• Salary and dividends

To accompany the Factsheet, we have two new resolutions for use by sole directors; ‘Sole Director Appointing an Additional Director’ and ‘First Resolutions of a Sole Director (Minutes)’.

Company Secretary Factsheets are easy to use, step-by-step guides to the tasks commonly performed by the company secretary, or the individual acting in that role.