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267694 EdinburghIT AR 2024 WEB - Flipbook - Page 47


THE EDINBURGH INVESTMENT TRUST PLC / GOVERNANCE / 45
STATEMENT OF DIRECTORS’ RESPONSIBILITIES
IN RESPECT OF THE PREPARATION OF THE ANNUAL FINANCIAL REPORT
The Directors are responsible for preparing the annual
financial report and 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 they are
required to prepare the financial statements in accordance
with UK accounting standards, including FRS 102 The
Financial Reporting Standard applicable in the UK and
Republic of Ireland.
The Directors are responsible for the maintenance and
integrity of the corporate and financial information included
on the Company’s website, which is maintained by the
Company’s Manager. Legislation in the UK governing the
preparation and dissemination of financial statements may
differ from legislation in other jurisdictions.
RESPONSIBILITY STATEMENT OF THE DIRECTORS
IN RESPECT OF THE ANNUAL FINANCIAL REPORT
We confirm that to the best of our knowledge:
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 Company and
of its profit or loss for that period.
–
the financial statements, prepared in accordance with the
applicable set of accounting standards, give a true and
fair view of the assets, liabilities, financial position and
profit or loss of the Company; and
In preparing these financial statements, the Directors are
required to:
–
the Strategic Report includes a fair review of the
development and performance of the business and the
position of the Company, together with a description of
the principal risks and uncertainties that it faces.
–
select suitable accounting policies and then apply them
consistently;
–
make judgements and 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;
–
assess the Company’s ability to continue as a going
concern, disclosing, as applicable, matters related to
going concern; and
–
use the going concern basis of accounting unless they
either intend to liquidate the Company or to cease
operations, or have no realistic alternative but to do so.
The Directors are responsible for keeping adequate
accounting records that are sufficient to show and explain
the Company’s transactions and disclose with reasonable
accuracy at any time the financial position of the Company
and enable them to ensure that its financial statements
comply with the Companies Act 2006.
They are responsible for such internal controls as they
determine are necessary to enable the preparation of
financial statements that are free from material misstatement,
whether due to fraud or error, and have general responsibility
for taking such steps as are reasonably open to them to
safeguard the assets of the Company and to prevent and
detect fraud and other irregularities.
Under applicable law and regulations, the Directors are
also responsible for preparing a Strategic Report, Directors’
Report, Directors’ Remuneration Report and Corporate
Governance Statement that complies with that law and those
regulations.
We consider the annual financial report, taken as a whole,
is fair, balanced and understandable and provides the
information necessary for shareholders to assess the
Company’s position and performance, business model and
strategy.
Signed on behalf of the Board of Directors
ELISABETH STHEEMAN
CHAIR
24 MAY 2024