Tesco 2003 Annual Report Download - page 24

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22 TESCO PLC
directors’ responsibilities for the preparation
of the financial statements
The Directors are required by the Companies Act 1985 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 as at the end of the financial year and of the profit
or loss for the financial year.
The Directors consider that in preparing the financial
statements on pages 24 to 53 the company and Group have
used appropriate accounting policies, consistently applied
and supported by reasonable and prudent judgements and
estimates, and that all accounting standards which they
consider to be applicable have been followed.
The Directors have responsibility for ensuring that the
company and Group keep accounting records which disclose,
with reasonable accuracy, the financial position of the company
and Group and which enable them to ensure that the
financial statements comply with the Companies Act 1985.
The Directors have general responsibility 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.