directors' report
Under Section 23A and 235 Companies Act 1985, for each financial year the directors are obliged to prepare a directors' report, usually contained in the statutory accounts, containing a review of the business, stating whether dividends are to be paid, and if so how much, or how much is to be carried to reserves. Details of the directors holding office during the year and a number of other matters (Schedule 7 Companies Act 1985) must also be set out. It is to be approved, signed and laid before the AGM and filed at the Companies Registry.

Easyform Glossary of Law Terms. — UK law terms.


directors' report
Part of the annual report of a company. A report by the company directors giving a fair review of the development of the business and its subsidiary undertakings during the financial year and of their position at the end of it, the amount of any dividend recommended, the names of the directors, the principal activities of the company and its subsidiaries and certain other disclosures required by the Companies Act 1985. All limited companies must prepare a directors' report for each financial year (section 234, Companies Act 1985).

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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