All companies are required by law to keep and maintain certain records. Depending on the nature of the business, you will need to report to various government agencies about your business activities. All companies report annually to the Companies Office.
Company and Financial Records
The following company and financial records must be kept for 7 years:
- minutes of board and committee meetings
- written communications with shareholders, including emails
- resolutions
- certificates issued by directors
- copies of all financial statements
- a record of the assets and liabilities of the company
- copies of all financial statements
- a record of the assets and liabilities of the company
- bank statements showing money received and spent each day
- invoices for all the services you provided or goods you bought.
Share register
A company must maintain a share register that records:
- the shares issued by the company
- an alphabetical list of the shareholders’ names with their residential addresses or registered office, if they’re a company
- the number of shares each shareholder owns and,
- any restrictions or limitations on the transfer of shares and where to find the details.
You also need to keep a record for the last 10 years of:
- all shareholders
- details and dates of any repurchase or redemption of shares for each shareholder
- details and dates of any transfer of shares by each shareholder.
