Marks and Spencer 2009 Annual Report Download - page 80

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76 Marks and Spencer Group plc Annual report and financial statements 2009 Directors’ report
Directors’ responsibilities
The directors are responsible for preparing the Annual Report,
the Remuneration report and the financial statements in accordance
with applicable law and regulations. Company law requires the
directors to prepare financial statements for each financial year.
Under that law the directors have prepared the Group and Company
financial statements in accordance with International Financial
Reporting Standards (IFRSs) as adopted by the EU. The financial
statements are required by law to give a true and fair view of the
state of affairs of the Company and the Group and of the profit of
the Company and Group for that period.
In preparing those financial statements, the directors are
required to:
– select suitable accounting policies and then apply them
consistently;
– make judgements and estimates that are reasonable and prudent;
– state that the financial statements comply with IFRSs as adopted
by the EU; and
– prepare the financial statements on the going concern basis,
unless it is inappropriate to presume that the Group will continue
in business, in which case there should be supporting assumptions
or qualifications as necessary.
The directors are responsible for keeping proper accounting records
that disclose with reasonable accuracy at any time the financial
position of the Company and the Group and to enable them to
ensure that the financial statements and the Remuneration report
comply with the Companies Acts and, as regards the Group financial
statements, Article 4 of the IAS Regulation. They are also responsible
for safeguarding the assets of the Company and the Group and
hence for taking reasonable steps for the prevention and detection
of fraud and other irregularities.
The directors are responsible for the maintenance and integrity
of the Company’s website. Legislation in the UK governing the
preparation and dissemination of financial statements may differ
from legislation in other jurisdictions. The directors confirm that,
to the best of their knowledge:
– the Group and Company financial statements, which have been
prepared in accordance with IFRSs as adopted by the EU, give
a true and fair view of the assets, liabilities, financial position and
profit of the Group and the Company; and
– the Business review contained in this report includes a fair
review of the development and performance of the business
and the position of the Group and the Company, together with
a description of the principal risks and uncertainties that it faces.
Disclosure of information to auditor
Each director confirms that, so far as he/(she) is aware, there is
no relevant audit information of which the Company’s auditors
are unaware and that each director has taken all the steps that
he/(she) ought to have taken as a director to make himself/(herself)
aware of any relevant audit information and to ensure that the
Company’s auditors are aware of that information.
Index to principal Directors’ report disclosures
The Directors’ report is set out on pages 1-76. Reference to
information that fulfils the Business review can be found on page 72.
Other disclosures required in the Directors’ report can be found on
the following pages:
Information Page Number(s)
Appointment and retirement of directors 74
Board of directors 74
Charitable donations 75
Creditor payment policy 75
Directors’ conflicts of interest 74
Directors’ indemnities 74
Directors’ responsibilities 76
Disclosure of information to auditor 76
Employee involvement 74
Employees with disabilities 75
Equal opportunities 74
Essential contracts or arrangements 75
Going concern 75
Interests in voting rights 73
Market value of properties 75
Political donations 75
Post balance sheet events 75
Powers in relation to the Company issuing or
buying back its own shares 72
Principal activities 72
Profit and dividends 72
Restrictions on transfer of securities 72
Rights and obligations attaching to shares 72
Share capital 72
Significant agreements – change of control 73
Variation of rights 72
By order of the Board
Graham Oakley, Group Secretary
London
18 May 2009
Other disclosures
continued