I have been looking this up on the web and I think what is required is that
1. You have made a check list of all the essential equipment required for the passage you intend to make, i.e. life jackets, flares, radio, charts, etc, etc.
2. That you have them on board.
3. You have made a log with weather forecast, tidal information and route plan of where you going ETA's etc included.
4. Risk mitigation i.e. escape plan to nearest safe haven if things get nasty, back up engine, paddles, bailer and so on.
5. You dont need to file it each time, but you should be able to provide it if you're rescued as it could be used in court. Without it you could be considered negligent!
As skipper you have a duty of care to all on board to ensure adequate precautions have been made to maintain their safety.
Gordon H