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This
statement, which should be read in conjunction with the Auditor’s
Report, is made with a view to setting out the responsibilities of
the Directors with respect to the financial statements.
In
accordance with the provisions of the Allied Matter Act, 1990, the
Directors are responsible for the preparation of annual financial
statements, which give a true and fair view of the financial
position of the company and of the profit or loss for the financial
year.
The
Directors responsibilities also include ensuring that:
a) appropriate internal controls
are established both to safeguard the assets of the company and to
prevent and detect fraud and other irregularities;
b) the company keeps accounting records which disclose with
reasonable accuracy the financial position of the company and which
ensure that the financial statements comply with the requirements of
the Companies and allied Matters Act 1990;
c) the company has used suitable accounting policies,
consistently applied and supported by reasonable and prudent
judgements and estimates, and that all applicable accounting
standards have been followed.
It is also the responsibility of the Directors to be
satisfied that it is appropriate for the financial statements to be
prepared on a going-concern basis unless it is presumed that the
company will not continue in business.
The
Directors hereby present to the Members of the Company their report
together with the audited financial statements for the year ended
31st December 2003. |
