Why keep guessing, when you can have the direct link to the document. :)
Here's the link:
http://www.iod.com/Home/MainWebSite/Resources/Document/corp_gov_guidance_and_principles_for_unlisted_companies_in_the_uk_final_1011.pdf
The 14 Principles in the document are really all about control, control, control, but then like the old saying, "If you think like a hammer, everything starts to look like a nail" ... in the case of directors, people who naturally seek power over others to control them (for their gain), then in their case, every answer has to in their mind include them increasing their control over everyone else.
As for this bit ... "it is important to recognise that the company is not an extension of the personal property of the owner."
Yeah right, good luck trying to convince some bosses of that one. I've worked for a number of bosses who had this exact attitude and they begrudged every penny spent even if it would earn them very good money they still resisted, unless of course they could turn it around into becoming their idea. But then that's also a good warning sign of a Passive–Aggressive Narcissist mind game pattern of behaviour, where they endlessly fear dependence on others and do all they can to seek to control and obstruct the success of others and don't even want to believe they need others yet ironically they end up undermining their chances of people wanting to invest their ideas into their company. At which point I would expect some employees get that sinking feeling, as they recognise this pattern of behaviour in their boss.
(The bosses fear dependence on others as they fear ever having anyone with power and influence over them ever again the way they suffered excessive control as a child, but unlike the Aggressive Narcissists (outright bullies), the Passive–Aggressive Narcissists bully by sulking, undermining and mind games as they don't want direct confrontations, so a lot of what they do is hidden by them).
Ultimately though its all about control, control, control. At which point its time to find a new job :) … (and a better boss . ;)