The following statement, which
should be read in conjunction with
the independent auditor’s statement
of its responsibilities set out on the
following pages, is made with a view
to distinguishing for shareholders
the respective responsibilities of the
Directors and of the independent
auditor in relation to the accounts.
The Directors are responsible for
preparing the Annual Report and
Accounts, including the Strategic
Report, the Directors’ Report and the
financial statements in accordance
with applicable law and regulations.
Company law requires the Directors
to prepare financial statements for
each financial year. Under that law
the Directors have elected to prepare
the financial statements in accordance
with United Kingdom Generally
Accepted Accounting Practice (United
Kingdom Accounting Standards and
applicable law). Under company law
the Directors must not approve the
financial statements unless they are
satisfied that they give a true and fair
view of the state of affairs of the Group
and the Company and of the profit
or loss of the Group for that period.
In preparing these financial
statements, the Directors
are required to:
• properly select and apply
accounting policies;
• make judgments and
accounting estimates that are
reasonable and prudent;
• state whether applicable UK
Accounting Standards have been
followed, subject to any material
departures disclosed and explained
in the financial statements; and
• prepare the financial statements on
the going concern basis unless it is
inappropriate to presume that the
company will continue in business.
The Directors confirm that
they have complied with
the above requirements in
preparing the accounts.
The Directors are responsible for
keeping adequate accounting records
that are sufficient to show and explain
the Group’s and the Company’s
transactions and disclose with
reasonable accuracy at any time the
financial position of the Group and the
Company and enable them to ensure
that the financial statements comply
with the Companies Act 2006. They
are also responsible for safeguarding
the assets of the Company and
hence for taking reasonable steps
for the prevention and detection
of fraud and other irregularities.
The Directors, having prepared the
accounts, are required to provide
the independent auditor with
such information and explanation
as the auditor thinks necessary
for the performance of its duty.
The Directors have responsibility for
the maintenance and integrity of
the Company’s website. Information
published on the internet is accessible
in many countries with different
legal requirements. Legislation in
the United Kingdom governing
the preparation and dissemination
of accounts may differ from
legislation in other jurisdictions.
The Directors of the Company and
their functions are listed on page 40
of the Annual Report and Accounts.
51
Annual Report 2015
Directors’ Responsibilities Statement