what-should-i-include-in-the-opening-board-minutes | Capital Office

What to include in the opening board minutes of your new company

If you`ve just set up your business, you should hold a board meeting of the new limited company. It is generally considered best to do this within a month of forming the company. As in all meetings of the board, you should produce the minutes of the first meeting between the directors.

The first meeting of directors should allow those present to discuss new commitments referred to in the Memorandum and Articles of Association. While there will be some similarities, the issues discussed at the first meeting of the board will vary between different companies. The following list, however, contains a number of issues discussed at a typical first meeting of directors:

• Appointment of Chairman
• The details of the formation of the company
• Disclosure by directors of the Company of any interest in contracts
• Appoint auditors
• Appointment of bankers of the Company
• Specify the date of the accounts
• Details of the initial capital of the company and the registration of members
• Register with HMRC VAT, payroll, etc.
• Other items of interest to the company
• Arrangements for the next meeting of the directors

It is a legal requirement to record what was discussed at the meeting and it is required as a formal record written over time. This document is the first minutes of the directors meeting.
Although we must adapt our model of the meeting minutes to match the original contents of the first meeting of the board, you’ll have a good idea of the kind of things that should be included in the following documents for minutes.

Minutes of the first meeting of the board

A copy of the minutes will be distributed to each of the directors present at the same meeting. Depending on the precise content of the meeting, there may be documents that must be filed with Companies House.
You must be available for inspection at the registered office of the company (or single alternative inspection location if selected).

Going forward, you should also make arrangements for the regular meetings of directors and for writing files, which will be generated for each meeting.

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