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GLOSSARY

Strategic Report definition

Published by a LexisNexis Corporate expert

What does Strategic Report mean?

A narrative report required under CA 2006, ss 414A-414E for financial years ending on or after 30 September 2013, for companies not subject to the small companies regime. Previously referred to as the Business Review. 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.

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Limited liability partnerships—application of Companies Act 2006 to LLPs—checklist

Limited liability partnerships—application of Companies Act 2006 to LLPs—checklist The majority of law applicable to limited liability partnerships (LLPs) is actually modified company law rather than partnership law. The Limited Liability Partnerships (Application of Companies Act 2006) Regulations 2009, SI 2009/1804 (2009 Regulations) apply many parts of the Companies Act 2006 (CA 2006), with appropriate modifications, to LLPs. The 2009 Regulations also apply Parts 1, 2, 3 and 5 of the Companies (Cross-Border Mergers) Regulations 2007, SI 2007/2974 to LLPs. The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, SI 2008/1911 (2008 Regulations) apply parts of CA 2006 in relation to accounts and audit to LLPs with appropriate modifications. This Checklist sets out those provisions of CA 2006 that are applied to LLPs pursuant to these regulations. Companies Act 2006 (CA 2006), section Statutory instrument applying CA 2006 provision Subject Part 2—Company formation CA 2006, s 12A 2009 Regulations, SI 2009/1804, reg 3A (link accessible within SI 2009/1804, reg 4) (inserted by SI 2016/340, reg 5 and SI...

UK and EU mandatory environmental reporting—which entities are caught?—checklist

UK and EU mandatory environmental reporting—which entities are caught?—checklist This Checklist summarises which companies and limited liability partnerships (LLPs) are subject to the principal UK and EU mandatory environmental reporting requirements. It provides a high level summary of, and includes links to the sources for, the relevant reporting requirements. For a more detailed summary of the relevant mandatory reporting requirements, see Practice Notes: CSR, ESG and human rights reporting and initiatives and EU mandatory corporate sustainability reporting. For a summary of the voluntary reporting requirements to which many companies and LLPs choose to adhere, see Practice Notes: TCFD recommendations and other ESG reporting frameworks, standards and benchmarks and Investor group guidance on environmental, social and governance (ESG) issues. UK requirements Requirement Scope Source Strategic report to contain description of principal risks and uncertainties. All companies (other than micro and small companies).Traded LLPs and banking LLPs. Companies Act 2006 (CA 2006), CA 2006, s 414C(2)(b)Applied to traded LLPs and banking LLPs by Limited Liability Partnerships (Accounts and Audit) (Application of Companies...

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Directors’ remuneration—quoted and unquoted traded companies

Directors’ remuneration—quoted and unquoted traded companies This Practice Note outlines the regulatory framework for remuneration of directors of quoted and unquoted traded companies against the current backdrop of increased shareholder activism and media attention on executive pay packages. It summarises the statutory directors' remuneration reporting regime for quoted companies and unquoted traded companies and notes relevant provisions of the Companies Act 2006 (CA 2006), the UK Listing Rules, the UK Corporate Governance Code (UKCG Code) of the Financial Reporting Council (FRC) and best practice guidelines relating to executive remuneration. Directors’ remuneration—law, regulation and best practice Legislation The CA 2006 and the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, SI 2008/410 (2008 Regulations) impose requirements on the directors of a quoted company and unquoted traded company to disclose prescribed details of directors' remuneration in a remuneration report to be prepared annually. CA 2006 defines a quoted company as a UK company whose equity share capital: • has been included in the Official...

EU Accounting Directive—summary of main provisions

EU Accounting Directive—summary of main provisions STOP PRESS: This Practice Note is currently under review in light of major changes to non-financial reporting rules proposed by the Commission pursuant to the omnibus simplification package of 26 February 2025 This Practice Note provides an overview of the main provisions of the EU Accounting Directive (2013/34/EU). Background The EU Accounting Directive, Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, amending Directive 2006/43/EC of the European Parliament and of the Council and repealing Council Directives 78/660/EEC and 83/349/EEC (the Accounting Directive) set out a new regime for the form and content of annual financial statements, and had the fundamental objective of modernising and streamlining reporting requirements for the smallest entities (the ‘think small first’ approach). The Accounting Directive was subsequently amended by the Non-Financial Reporting Directive 2014/95/EU of the European Parliament and of the Council of 22 October 2014 as...

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Resolution—receiving accounts and reports

Resolution—receiving accounts and reports Ordinary resolutions: [To consider and, if thought fit, approve the following resolutions that will be proposed as ordinary resolutions:] 1 To receive the audited accounts for the financial year ended [insert date], together with the directors’ report, the auditor’s report and the strategic report.

Board briefing note—environmental reporting—quoted companies

Board briefing note—environmental reporting—quoted companies Memorandum prepared by [Name of Firm] For the directors of [insert company name] (the Company) advising on annual environmental reporting 1 Scope This memorandum summarises the main environmental disclosures that the Company is required to include in its annual reports and accounts. It discusses the UK Listing Rule and Companies Act 2006 (CA 2006) requirements to include climate-related disclosures aligned with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), the requirement to report on greenhouse gas (GHG) emissions, energy use and energy efficiency actions under the Streamlined Energy and Carbon Reporting (SECR) regime and other environmental legislation[, and relevant principles and provisions from the UK Corporate Governance Code (UKCG Code)]. It also includes practical tips for companies in preparing environmental disclosures. As a listed company, the Company is subject to ongoing disclosure obligations under the UK Listing Rules, the Disclosure Guidance and Transparency Rules and the Market Abuse Regulation, which may involve the disclosure of environmental matters. These disclosure obligations...

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