The First Board Meeting

Having sorted out the quorum requirement to have a valid board meeting, I could now hold the first board meeting.  This is standard practice and confirms the steps taken during the incorporation and prepares the ground for some of the subsequent steps, such as opening a bank account.

The resolutions were as follows:

  1. Steve Sampson was appointed chairman of the board until decided otherwise.
  2. The company was incorporated on [x].
  3. Steve Sampson was appointed the sole director of the company and authorised to act as managing director.
  4. As permitted by the Companies Act no Company Secretary was appointed.
  5. The director was requested to make the appropriate entries in the register of directors.
  6. The share capital of 5 ordinary shares of £1 each were allotted 4 to Steve Sampson and 1 to [x].
  7. The director was requested to issue share certificates recording the shares issued and to record them in the register of shareholders.
  8. The Registered Office of the Company is established at [x].
  9. The director was requested to open a bank account with [x].
  10. The director was authorised to reimburse the pre-incorporation expenditure of £[x].  This is to be done by the establishment of a director’s loan account.
  11. The director was requested to register the company for tax purposes.
  12. The accounting reference date was fixed as 30 November.  The first accounting period will end on 30 November 2013.
  13. Steve Sampson notified the company that he owned 4 shares in the company’s capital.
  14. Steve Sampson be authorised to enter into contracts in the name of the company.