Wondering who you should appoint as your company directors and what they'll need to be responsible for once your company is formed? Here are some answers.
All private limited companies must have at least one director. Public limited companies must have at least two directors.
What does a company director do?
A company director's job is to manage the overall running of the business and its finances. Your director or directors will be responsible for overseeing the management of the company and ensuring all its legal and tax obligations are in check.
Company appointments and directors
A director is a person chosen to control or oversee the affairs of your company, promoting your business success.
Directors must:
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Produce proper accounts and send all required documents to Companies House including the annual return and annual accounts.
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Ensure compliance with the law and regulatory requirements associated with your business, including health and safety, employment law and tax.
Directors must not:
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Be disqualified from acting as a company director of any other company.
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Be an undischarged bankrupt.
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Be under the age of 16.
Company appointments and the secretary
While you are not required to appoint a company secretary, it’s worth considering this role while making your company appointments.
A company secretary is appointed by the directors of your company and usually undertakes all administration for your company, freeing you up to concentrate on running the business.
A company secretary:
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Can also be a director of the company.
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Does not need to be a full time employee and can have other roles.
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Does not need qualifications in private limited company, but for public limited companies they must be formally qualified according to the terms of the Companies Act 2006.
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Must not be the company's auditor.
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Must not be an undischarged bankrupt.
This article was updated on 13th June 2017.