Here’s a brief roundup of what obligations are placed on the Directors of a limited company:

• Private limited companies need to have at least two 'officers' - a director and a company secretary. These can't be the same person, and if one officer fails to carry out his or her duties, both officers can be held responsible.
• Directors are responsible for sending Companies House the company's accounts and annual returns, as well as keeping it informed about changes to directors' names and addresses or the business address.
• Directors must make sure minutes of board meetings are kept, and ensure the company's 'statutory forms' are kept up to date (the statutory forms include details about the directors and company shares; there's a full list at the Companies House website).
• Directors must also make sure company records are available to the public or people entitled to see them, such as the shareholders.

There's also a good deal of information about this subject on the Internet. The Companies House website is a good place to start. It has a section fleshing out directors' obligations, particularly as regards holding meetings and keeping records.

If having read through these you still feel you need advice contact Woolley & Co on 01789 267377 or email info@business-lawfirm.co.uk.

And don’t forget - if you think your company may be in financial trouble, do make sure you read our previous article about directors’ responsibilities during those times, too.

1. Register and protect data - if you collect personal data (names and addresses) of customers or prospects – you MUST comply with the Data Protection Act and probably have to register - more

2. Don’t make false promises – it’s great to make your company sound as positive as possible in adverts, brochures and on your website – but if you over-step the mark you could land in deep water.

3. Protect your ideas – whether it’s your company name, a product design or a piece of marketing or customer management software you buy to help in your business – make sure you understand what you own and how to protect your rights – more

4. Use direct marketing, legally – how have you gathered your marketing lists? Do you have permission to mail, email or call your business prospects? Read more about Spam and Cold Commercial Emails here.

5. Consider access for customers – the terms of the Disability Discrimination Act mean that you must consider the ease of access to your business premises for disabled customers – and you must consider disabled web visitors too - more

7. Be wary of comparative adverts - be very, very careful when mentioning other people’s products and even trade names in adverts. The OFT will be after you!

8. Don’t give away your secrets – in your enthusiasm about a new product or service it’s tempting to tell a lot of people: your bank manager, a possible partner or supplier perhaps. But they may well just take your idea (or tell someone else about it) and there would be very little you could do. So, protect yourself with a confidentiality agreement – which Woolley & Co can draft for as little as £150 plus VAT.

9. Make contracts with marketing suppliers – if you are using a sales agent abroad or commissioning a website for example, make sure you have a contract and that you understand what the contract promises you. Without a contract you’ll have very little recourse if the website is delivered later than planned or if you find out that the sales agent is visiting your existing customers to sell a competitor’s product.

10. Get good advice – before you try ‘crazy’ marketing tactics – especially things like competitions and incentives. Make sure the lawyer you use takes time to really understand you and your business – then you can be sure you will get their best advice and the right results for your company.