Annual Reports 2020
Section 172 statements and corporate governance arrangements for applicable Siemens UK entities
The Annual Report and Financial Statements set out below contain a strategic report, directors’ report and the financial statements for those entities listed for financial year ended 2020. These Annual Reports also include a section 172 statement and, where applicable, a statement of corporate governance arrangements.
The Companies Act 2006 (CA 2006) sets out a number of general duties which directors owe to the company. New legislation has been introduced requiring companies that meet the qualifying criteria to include a statement in the strategic report describing how the directors have had regard to the matters set out in section 172(1)(a) to (f) of the CA 2006 when performing their duty to promote the success of the company under section 172 of the CA 2006.
In addition, certain qualifying companies must provide a statement of their corporate governance arrangements in their directors’ report.