The following Corporate guidance note provides comprehensive and up to date legal information covering:
All companies (other than small companies) must prepare a strategic report for each financial year.
CA 2006, s 415 requires all companies also to prepare a directors’ report which contains other specified information. Both the strategic report and the directors’ report are integral parts of the annual report. See Practice Note: The directors' report for further information on the requirements for a directors' report.
The UK corporate reporting framework may be affected by Brexit. For further details of its impact, see Brexit—accounts and reports but note also the section Brexit-related disclosures below.
A company which is entitled to the small companies exemption in respect of any financial year is not required to prepare a strategic report for that year. For details of the small company qualification requirements see Practice Note: The small companies regime—When the small companies regime applies.
For a financial year in which the company is a parent company and the directors of the company prepare group accounts, the strategic report must be a consolidated report (a 'group strategic report') relating to the undertakings included in the consolidation. A group strategic report may, where appropriate, give greater emphasis to the matters that are significant to the undertakings included in the consolidation, taken as a whole.
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