No, Section 325 of CA 2014 as amended by Section 41 of Companies (Accounting) Act 2017 specifically exempts a company that qualifies for the micro companies regime from the requirement to prepare a directors’ report as long as the company discloses the requirements of Section 328 of CA 2014 (which deals with the disclosure requirements where there is an acquisition or disposal of the company’s own shares i.e. where at any time in the year, shares in the company are held by the company itself or are held or acquired by any subsidiary undertaking of the company – requirement to disclose number & nominal value of any shares held at the start and end of the period together with the consideration paid to include a reconciliation of the movements in the period, a reason for the acquisition and the % of called up share capital held at start and end of the period) in the notes to the financial statements.
