The Directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the Directors to prepare financial statements for each financial 12 month period. Under that law, the Directors have prepared the Group financial statements and Company financial statements, in each case, in accordance with International Financial Reporting Standards (IFRSs) as adopted by the European Union. 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 Company and of the profit or loss of the Group and the Company for that period. In preparing these financial statements, the Directors are required to:
- select suitable accounting policies and then apply them consistently;
- state whether applicable IFRSs as adopted by the European Union have been followed for the Group financial statements and IFRSs as adopted by the European Union have been followed for the Company financial statements, subject to any material departures disclosed and explained in the financial statements;
- make judgements and accounting estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group and the Company will continue in business.
The Directors are also responsible for safeguarding the assets of the Group and the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Group 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 and the Directors’ Remuneration Report comply with the Companies Act 2006, and, as regards the Group financial statements, Article 4 of the IAS Regulation.
The Directors are responsible for the maintenance and integrity of the Company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Each of the Directors, whose names and functions are listed below confirms that, to the best of their knowledge:
- the Annual Report, taken as a whole, is fair, balanced and understandable and provides the information necessary for shareholders to assess the Group and the Company’s position and performance, business model and strategy;
- the Group financial statements which have been prepared in accordance with IFRS as adopted by the EU, give a true and fair view of the assets, liabilities, financial position and profit of the Group; and
- the Strategic Report, contained on pages 1 to 37 includes a fair review of the development and performance of the business and the position of the Group, together with a description of the principle risk and uncertainties that it faces.
The Directors of the Company who were in office during the year and up to the date of signing the financial statements were:
|Steve Morgan (i)||Chairman|
|John Tutte||Executive Chairman|
|Matthew Pratt||Chief Operating Officer|
|Barbara Richmond||Group Finance Director|
|Debbie Hewitt (ii)||Senior Independent Director and Non-Executive Director|
|Nick Hewson||Senior Independent Director and Non-Executive Director|
|Sir Michael Lyons||Non-Executive Director|
|Vanda Murray||Non-Executive Director|
(i) Steve Morgan stepped down as Chairman on 31 March 2019.
(ii) Debbie Hewitt stepped down as Senior Independent Director and Non-Executive Director on 7 November 2018.
By order of the Board
4 September 2019
St. David’s Park