Full-year - Chime Communications PLC

Statement of Directors’ responsibilitiesStatement of Directors’ responsibilitiesThe Directors are responsible for preparingthe Annual Report, Directors’ RemunerationReport and the financial statementsin accordance with applicable lawand regulations.Company law requires the Directors toprepare financial statements for eachfinancial year. The Directors are required bythe IAS Regulation to prepare the Groupfinancial statements under IFRSs (IFRSs) asadopted by the European Union. The Groupfinancial statements are also required by lawto be properly prepared in accordance withthe Companies Act 1985 and Article 4 of theIAS Regulation.International Accounting Standard 1 requiresthat IFRS financial statements present fairlyfor each financial year the Company’sfinancial position, financial performance andcash flows. This requires the faithfulrepresentation of the effects of transactions,other events and conditions in accordancewith the definitions and recognition criteriafor assets, liabilities, income and expensesset out in the International AccountingStandards Board’s ‘Framework for thepreparation and presentation of financialstatements’. In virtually all circumstances,a fair presentation will be achieved bycompliance with all applicable IFRSs.However, Directors are also required to:• properly select and apply accountingpolicies;• present information, including accountingpolicies, in a manner that provides relevant,reliable, comparable and understandableinformation; and• provide additional disclosures whencompliance with the specific requirementsin IFRSs are insufficient to enable usersto understand the impact of particulartransactions, other events and conditionson the entity’s financial position andfinancial performance.The Directors have elected to prepare theparent company financial statements inaccordance with United Kingdom GenerallyAccepted Accounting Practice (UnitedKingdom Accounting Standards andapplicable law). The parent companyfinancial statements are required by law togive a true and fair view of the state of affairsof the Company. In preparing these financialstatements, the Directors are required to:• select suitable accounting policies and thenapply them consistently;• make judgments and estimates that arereasonable and prudent;• state whether applicable UK AccountingStandards have been followed, subject toany material departures disclosed andexplained in the financial statements; and• prepare the financial statements on thegoing concern basis unless it isinappropriate to presume that theCompany will continue in business.The Directors are responsible for keepingproper accounting records that disclose withreasonable accuracy at any time the financialposition of the Company and enable them toensure that the parent company financialstatements comply with the Companies Act1985. They are also responsible forsafeguarding the assets of the Company andhence for taking reasonable steps for theprevention and detection of fraud and otherirregularities.The Directors are responsible for themaintenance and integrity of the corporateand financial information included on theCompany’s website. Legislation in the UnitedKingdom governing the preparation anddissemination of financial statements maydiffer from legislation in other jurisdictions.48Chime Communications plc