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Directors’ report The Directors present their report and the financial statements for the year ended 31 March 2021. Directors’ responsibilities statement The Directors are responsible for preparing the Strategic report, the Directors’ report and the financial statements in accordance with applicable law and regulations. Company law requires the Directors to prepare accounts for each financial year. Under that law, the Directors have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’. Under company law the Directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the Group and of the profit or loss of the Group for the financial year. In preparing these accounts, the Directors are required to: — select suitable accounting policies and then apply them consistently; — make judgments and accounting estimates that are reasonable and prudent; — state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the accounts; and — prepare the accounts on the going concern basis unless it is inappropriate to presume that the Company and Group will continue in business. The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company’s transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and enable them to ensure that the accounts comply with the Companies Act 2006. 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 corporate and financial information included on the Company’s website. Legislation in the United Kingdom governing the preparation and dissemination of accounts may differ from legislation in other jurisdictions.
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The Howard de Walden Estate Annual Report 2021
Disclosure of information to the auditor In the case of each person who was a Director at the time this report was approved: — so far as that Director was aware there was no relevant audit information of which the Group’s auditor was unaware; and — that Director had taken all steps that the Director ought to have taken as a Director to make himself or herself aware of any relevant audit information and to establish that the Group’s auditor was aware of that information. This confirmation is given and should be interpreted in accordance with the provisions of s418 of the Companies Act 2006. Auditor A resolution to reappoint the auditor, Nexia Smith & Williamson, will be proposed at the next AGM. Company’s registered number The Company’s registered number is 06439246. Dividends During the year, the Group paid dividends of £25,500,000 (2020: £37,230,000) to ordinary shareholders and £nil (2020: £nil) to ‘A’ shareholders. Going concern The Directors have considered the significant impact COVID-19 has had in applying the going concern basis of preparation of the financial statements. More detail can be found in note 2 to the accounts. Section 172 In compliance with Section 172 requirements, a statement can be found on pages 46 and 47 of the Strategic report which includes details of the Directors’ regard for employee engagement and business relationships.
