The following statements, which should be read in conjunction with the statement of auditors’ responsibilities included in the independent auditors’ reports, are made to help shareholders distinguish the respective responsibilities of the Directors and the auditors in relation to the financial statements for 2008.
The Directors are responsible for preparing the Annual Report and Accounts 2008 and Summary Financial Report 2008. The Directors are required by company law to prepare financial statements for each financial year, giving a true and fair view of the state of affairs of the Company and of the Group at the end of the financial year, and of the profit or loss of the Company and the Group for the financial year. The financial statements of the Group must be prepared in accordance with International Financial Reporting Standards issued by the International Accounting Standards Board, as adopted for use in the European Union, the Companies Acts 1985 and 2006, the Disclosure and Transparency Rules (DTR) issued by the Financial Services Authority and Article 4 of the IAS Regulation. The Directors have elected to prepare the Company’s financial statements on the same basis.
The Directors consider that, in preparing the financial statements on a going concern basis, the Company has used appropriate accounting policies, that these have been consistently applied and supported by reasonable and prudent judgements and estimates, and that all applicable accounting standards have been followed.
The Directors have responsibility for ensuring the maintenance of proper accounting records that disclose, with reasonable accuracy at any time, the financial position of the Company and the Group and to enable them to ensure that the financial statements and the Directors’ remuneration report comply with the Companies Acts 1985 and 2006, the DTR and, as regards the Group financial statements, Article 4 of the IAS Regulation. They are also responsible for safeguarding the assets of the Company and the Group and for taking reasonable steps to prevent and detect fraud and other irregularities.
The Directors are responsible for the maintenance and integrity of the Group’s website. Legislation in the UK governing the preparation and dissemination of financial statements differs from legislation in other jurisdictions.
Directors’ responsibility statement
We confirm to the best of our knowledge that:
- the financial statements, prepared in accordance with International Financial Reporting Standards as adopted by the EU, give a true and fair view of the assets, liabilities, financial position and profit of the Company and the undertakings included in the consolidation taken as a whole; and
- the Business review, which is incorporated into the Directors’ report, includes the information required by DTR 4.1.8 and DTR 4.1.9, namely a fair review of the development and performance of the business and the position of the Company and the undertakings included in the consolidation taken as a whole, together with a description of the principal risks and uncertainties they face.
By order of the Board
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Gerry Grimstone
Chairman
12 March 2009 |
David Nish
Group Finance Director
12 March 2009 |
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