Statement of Directors’ Responsibilities
The Directors are responsible under Sections 150 (1),
The Directors have taken reasonable measures to
&151of the Companies Act No. 07 of 2007, to ensure
safeguard the assets of the Group and, in that context,
compliance with the requirements set out therein to
have instituted appropriate systems of internal
prepare Financial Statements for each financial year
control with a view to preventing and detecting fraud
giving a true and fair view of the state of affairs of the
and other irregularities. As required by Section 56
Company as at the end of the financial year and of the
(2) of the Companies Act, the Board of Directors has
profit of the Company for the financial year.
authorised distribution of the dividend now proposed, being satisfied based on information available to it
The Directors are also responsible, under Section
that the Company would satisfy the solvency test
148, for ensuring that proper accounting records are
after such distribution in accordance with Section 57
kept to enable for determination of financial position
of the Companies Act, and have sought in respect of
with reasonable accuracy, preparation of Financial
the dividend now proposed, a certificate of solvency
Statements and audit of such statements to be
from the Auditors.
carried out readily and properly. The Auditor General who was empowered to audit The Board accepts responsibility for the integrity and
the Ceylon Fertilizer Co. Ltd., under the provisions
objectivity of the Financial Statements presented.
of Nineteenth amendment
The Directors confirm that in preparing the Financial
of Democratic Socialist Republic of Sri Lanka, was
Statements, appropriate accounting policies have
provided with every opportunity to undertake
been selected and applied consistently while
the inspections they considered appropriate to
reasonable and prudent judgments have been made
enable them to form their opinion on the Financial
so that the form and substance of transactions are
Statements.
properly reflected. They also confirm that the Financial Statements have been prepared and presented in accordance with the Sri Lanka Accounting Standards - SLFRS and
to the
constitution
Compliance Report The Directors confirm that to the best of their knowledge, all statutory payments relating to
Companies Act No. 07 of 2007.
employees and the Government that were due in
Further, the Financial Statements provide the
have been paid or where relevant, provided for.
respect of the Company as at the Balance Sheet date
information required by the Companies Act. The Directors are of the opinion, based on their knowledge of the Company, key operations and
Amarananda Abeygunasekara
specific inquiries that adequate resources exist to
Chairman
support the Company on a going concern basis over
On behalf of the Board of Directors
the next year. These Financial Statements have been
Ceylon Fertilizer Co Ltd.
prepared on that basis.
23th October 2018
CEYLON FERTILIZER COMPANY LIMITED
Annual Report 2018
71
