Statement of Directors' Responsibilities

2003

Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that year.  In preparing those financial statements, the directors are required to

• select suitable accounting policies and then apply them consistently;

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• make judgements and estimates that are reasonable and prudent;

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• state whether applicable accounting standards have been followed; and

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• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company and the group will continue in business.

The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 1994.  They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The board of directors confirm that in their opinion

 

(a) the financial statements give a true and fair view of the state of affairs of the company and the group at 30 September 2003 and of the profit and cash flows of the group for the year then ended;

 

(b) at the date of this statement there are reasonable grounds to believe that the company and the group will be able to pay its debts as and when these fall due

(c) the financial statements are drawn up in accordance with applicable accounting standards.

This statement is made in accordance with a resolution of the directors.

 

 

Signed at Lusaka on

 

 

Director