Elpitiya Plantations Plc Annual Report 2010/11 - Colombo Stock ...

Statement of Directors’ Responsibilities
The Companies Act No. 7 of 2007 requires the Directors of the
Company to be responsible for the preparation and presentation
of the financial statements to the shareholders in accordance
with the relevant provisions of the Companies Act No.7 of 2007
and the Sri Lanka Accounting and Auditing Standards Act No
15 of 1995 and the Listing Rules of the Colombo Stock
Exchange.
The Directors confirm that the financial statements of the
Company for the year ended 31st March 2011 incorporated in
this report have been prepared in accordance with the
Companies Act No. 7 of 2007, Sri Lanka Accounting and
Auditing Standards Act No 15 of 1995 and the Listing Rules of
the Colombo Stock Exchange.
In the preparation of the financial statements, the Directors have
selected the appropriate accounting policies and have applied
them consistently. Any material departures from accounting
policies have been disclosed and explained in the financial
statements.
The Directors have adopted the going concern basis in preparing
the financial statements. The Directors having considered the
Company’s business plans, and a review of its current and future
operations, are of the view that the Company has adequate
resources to continue in operation.
The Directors accept the responsibility to ensure that the
Company maintains adequate and accurate records which
reflect the true financial position of the Company.
The Directors have taken reasonable steps to safeguard the
assets of the Company. The Directors have instituted appropriate
systems of internal controls in order to prevent and detect fraud
and other irregularities.
The Directors have provided the Auditors with every opportunity
to carry out any reviews and tests that they consider appropriate
and necessary for the performance of their responsibilities.
The Directors confirm to the best of their knowledge that all
taxes, levies and financial obligations of the Company have been
either duly paid or adequately provided for in the financial
statements.
By Order of the Board,
Sgd.
AITKEN SPENCE CORPORATE FINANCE (PVT) LTD
Secretaries
Colombo
23 rd August 2011
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Elpitiya Plantations Plc Annual Report 2010/11