@timsrunworld I count cars and their colour and try to calculate the %age of each colour. I know it’s boring but it… https://t.co/AxTZuqS1NY

New governance reporting requirements

The Companies (Miscellaneous Reporting) Regulations 2018 have now become effective and the new regulations will apply for financial years starting on or after 1st January 2019.
There are three main elements to the additional reporting:
  • all private companies and unlisted plcs with more than 250 employees must explain in the Annual Report how during the year directors have engaged with employees and had regard to their interests
  • all large private companies and unlisted plcs must explain in their Strategic Report and publish on their website how the directors have ensured compliance with Section 172 of the Companies Act. They must also state how the directors have had regard to fostering relationships with other stakeholders.
  • all very large private companies and unlisted plcs must disclose in the Directors' Report and on their website their governance arrangements including which formal code they have followed, how they have applied the code and the reasons for any departures from the code.
Note that a 'large' company is one that satisfies any two of: an annual turnover exceeding 36 million, a balance sheet total exceeding 18 million and more than 250 employees. 
A 'very large' company is one that is not already subject to a corporate governance disclosure requirement and satisfies at  least one of: an annual turnover exceeding 200 million and/or a balance sheet total of more than 2billion, and more than 2,000 employees.