Ryanair 2006 Annual Report Download - page 26

Statement of Directors’ Responsibilities in respect of
the Annual Report and the Financial Statements
The directors are responsible for preparing the Annual Report and the group and
parent company financial statements, in accordance with applicable law and
regulations.
Statement of Directors’ Responsibilities & Independent
Auditors’ Report to the Members of Ryanair Holdings plc
26
ANNUAL REPORT & FINANCIAL STATEMENTS 2006
Company law requires the directors to prepare group and
company financial statements for each financial year. Under
Company law, the directors are required to prepare the group
financial statements in accordance with IFRSs as adopted by the
EU and have elected to prepare the company financial
statements in accordance with IFRSs as adopted by the EU and
as applied in accordance with the provisions of the Companies
Acts 1963 to 2005.
The financial statements are required by law and IFRSs as
adopted by the EU to present fairly the financial position of the
company and the group and the performance of the group. The
Companies Acts 1963 to 2005 provide in relation to financial
statements that references in the relevant part of these Acts to
financial statements giving a true and fair view are references
to their achieving a fair presentation.
In preparing each of the group and company financial
statements, the directors are required to:
• Select suitable accounting policiesand then apply them
consistently;
• Make judgement and 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 business.
The directors are responsible for keeping proper books of
account that 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 Acts
1963 to 2005. They are responsible for taking such steps as are
reasonably open to them to safeguard the assets of the group
and to prevent and detect fraud and other irregularities.
Under Company law and the requirements of the Listing Rules
issued by the Irish Stock Exchange, the directors are also
responsible for preparing a Directors’ Report and reports
relating to directors’ remuneration and corporate governance
that comply with that law and those Rules.
The directors are responsible for the maintenance of integrity
of the corporate and financial information included on the
group’s website. Legislation in the Republic of Ireland
governing the preparation and dissemination of financial
statements may differ from legislation in other jurisdictions.
On behalf of the board
D. Bonderman M. O’Leary
Chairman Chief Executive
Independent Auditors’ Report to the Members of
Ryanair Holdings plc
We have audited the group and company financial statements of Ryanair Holdings plc for the year ended March 31, 2006 which
comprise the Consolidated Income Statement, the Consolidated and Company Balance Sheets, the Consolidated and Company Cash
Flow Statements, the Consolidated Statement of Recognised Income and Expense, the Company Statement of Changes in
Shareholders’ Equity and the related notes. These financial statements have been prepared under the accounting policies set out
therein.
This report is made solely to the company’s members, as a body, in accordance with Section 193 of the Companies Act, 1990. Our audit
work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an
auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone
other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.