Page 51 - DWF Annual Report 2017
P. 51
Members’ Responsibilities Statement
The Members are responsible Under Company law as applied The Members are responsible
for preparing the Annual Report to Limited Liability Partnerships, for keeping adequate accounting
and the financial statements in the Members must not approve records that disclose with
accordance with applicable law the financial statements unless reasonable accuracy at any time
and regulations. they are satisfied that they give a the financial position of the Limited
true and fair view of the state of Liability Partnership and enable
The Limited Liability Partnerships affairs of the Group and Limited them to ensure that the financial
(Accounts & Audit) (Application of Liability Partnership and of the statements comply with the
Companies Act 2006) Regulations profit or loss of the Group for that Companies Act 2006, as applicable
2008 require the Members to year. In preparing these financial to Limited Liability Partnerships,
prepare financial statements for statements, the Members are and in accordance with the
each financial year. required to: requirements of the Statement of
Recommended Practice Accounting
Under that law the Members • select suitable accounting policies by Limited Liability Partnership
have elected to prepare the and then apply them consistently; (issued July 2014).
financial statements in accordance
with United Kingdom Generally • make judgements and accounting They are also responsible for
Accepted Accounting Practice estimates that are reasonable safeguarding the assets of the
(United Kingdom Accounting and prudent; Limited Liability Partnership and
Standards and Applicable Law), hence for taking reasonable steps
including FRS 102 “The Financial • state whether applicable UK for the prevention and detection of
Reporting Standard applicable in the Accounting Standards have fraud and other irregularities. These
UK and Republic of Ireland”. been followed, subject to any responsibilities are exercised by the
material departures disclosed Board on behalf of the Members.
and explained in the financial
statements; and
• prepare the financial statements
on the going concern basis
unless it is inappropriate to
presume that the Partnership
will continue in business.
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