Companies Act 2006

Companies Act 2006 - S.172 Disclosures

Section 172 of the Companies Act 2006 sets out a number of general duties that directors owe to a company. These include a general duty requiring directors to act in a way in which they consider, in good faith, will promote the success of the company for the benefit of shareholders as a whole. Certain companies which qualify as "large companies" under the Companies Act 2006 are required to include a statement in the Strategic Report within their annual financial statements to help stakeholders better understand and explain how directors have had regard to the matters set out in section 172(1). Copies of the annual financial statements including these statements are available below: