No. The Transparency Code for Smaller Authorities include sections on Data Protection and Commercial Confidentiality. It's worth reading the whole text to understand the context, but for brevity:
"The Government believes that local transparency can be implemented in a way that complies with the Data Protection Act 1998."
"The Data Protection Act 1998 also does not automatically prohibit information being published naming the suppliers with whom the authority has contracts, including sole traders, because of the public interest in accountability and transparency in the spending of public money."
"The Government has not seen any evidence that publishing details about contracts entered into by smaller authorities would prejudice procurement exercises or the interests of commercial organisations, or breach commercial confidentiality..."
Some councils have endeavoured to keep secret the salary of the clerk, but in a small council with only one paid member of staff, this will be shown as a separate item on the Annual Return. I have always taken the view that it's not our money we're spending, so we should provide the public with the same information we provide to the members of the council.