Company Minutes are a written document of discussions and agreements of a formal directors meeting. Limited Companies must keep records of these meetings.
The following should be included in the minutes of a meeting:
- Date, time and location
- Names of all directors present and any unable to attend
- Names of anyone else in attendance and their roles
- Name of the chairperson of the meeting
- Purpose of the meeting
- Actions or things to be considered
- Decisions of each director with regards to resolutions or other matters
- Signature of the chairperson or a director
Even if there is only one director in the company you must still document the first Minutes of the company. The Minutes detail management of the business and acknowledge the Articles of Association (the document detailing how your company is run).
We provide a copy of the initial Minutes in our formation packages.
A copy of the Minutes must be kept at the registered office address or SAIL address (single alternative inspection location) for 10 years.
If there is more than one director you may wish to discuss any matters relating to the business during a formal meeting for example:
- Share capital
- Accounting matters
- Sales and marketing
- The appointment of an accountant
- Proposals and strategies