Tesco 2009 Annual Report Download - page 68

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66 FINANCIAL STATEMENTS
Tesco PLC Annual Report and Financial Statements 2009
Statement of Directors’ responsibilities
The Directors are required by the Companies Acts 1985 and 2006 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 of the Group for the financial year.
Under that law the Directors are required to prepare the Group financial
statements in accordance with International Financial Reporting Standards
(IFRS) as endorsed by the European Union (EU) and have elected to
prepare the Company financial statements in accordance with UK
Accounting Standards.
In preparing the Group and Company financial statements, the Directors
are required to:
select suitable accounting policies and apply them consistently;
make reasonable and prudent judgements and estimates;
for the Group financial statements, state whether they have been 
prepared in accordance with IFRS as endorsed by the EU;
for the Company financial statements state whether applicable UK 
Accounting Standards have been followed; and
prepare the financial statements on the going concern basis, unless 
it is inappropriate to presume that the Group and the Company will
continue in business.
The Directors confirm that they have complied with the above
requirements in preparing the financial statements.
The Directors are responsible for keeping proper accounting records which
disclose with reasonable accuracy at any time, the financial position of the
Company and Group, and which enable them to ensure that the financial
statements and the Directors’ Remuneration Report comply with the
Companies Acts 1985 and 2006, and as regards the Group financial
statements, Article 4 of the IAS Regulation.
The Business Review includes a fair review of the business and important
events impacting it, as well as a description of the principal risks and
uncertainties of the business.
The Directors are responsible for the maintenance and integrity of the
Annual Review and Summary Financial Statement and Annual Report
and Financial Statements published on the Group’s corporate website.
Legislation in the UK concerning the preparation and dissemination of
financial statements may differ from legislation in other jurisdictions.
The Directors have general responsibility for taking such steps as are
reasonably open to them to safeguard the assets of the Group and
of the Company and to prevent and detect fraud and other irregularities.