415 Duty to prepare directors' report
415 Duty to prepare directors' report
Companies Act 2006 | Legislation

(1)     The directors of a company must prepare a directors' report for each financial year of the company.

[(1A)     Subsection (1) does not apply if the company qualifies as a micro-entity (see sections 384A and 384B).]

(2)     For a financial year in which—

(a)     the company is a parent company, and

(b)     the directors of the company prepare group accounts,

the directors' report must be a consolidated report (a “group directors' report”) relating to the undertakings included in the consolidation.

(3)     A group directors' report may, where appropriate, give greater emphasis to the matters that are significant to the undertakings included in the consolidation, taken as a whole.