Page 58 - Aidlink AR 2021

DIRECTORS’ REPORT
For the financial year ended 31 December 2021 Continued
in unrestricted reserves at end of 2022. These funds will enable the company to meet its obligations under its agreement with Irish Aid in 2023 and beyond and to support other partners and projects.
ACCOUNTING RECORDS
The Directors acknowledge their responsibilities under Section 281 to 285 of the Companies Act 2014 to keep adequate accounting records for the company.
In order to comply with the requirements of the Act, appropriate personnel are employed. The accounting records of the company are kept at the registered office and principal place of business, Terenure Enterprise Centre, 17 Rathfarnham Road, Dublin 6W, D6W X921.
STATEMENT OF DIRECTORS’ RESPONSIBILITIES
The Directors are responsible for preparing the Directors’ Report and the financial statements in accordance with the Companies Act 2014 and the applicable regulations.
Irish company law requires the Directors to prepare financial statements giving an accurate and fair view of the state of affairs of the company and the net income or expenditure of Aidlink for each financial year. Under that law,
the Directors have elected to prepare the financial statements
in accordance with FRS 102: the Financial Reporting Standard applicable to the UK and Republic of Ireland (‘relevant financial reporting framework’). Under company law, the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the assets, liabilities and financial position as at the financial year end date and of the net income or expenditure of the company for the financial year and otherwise comply with the Companies Act 2014.
In preparing these financial statements the Directors are required to:
• Select suitable accounting
policies for the company financial statements and then apply them consistently;
• Make judgments and accounting estimates that are reasonable and prudent;
• State whether the financial statements have been prepared per the applicable accounting standards, identify those standards, and note the effect and the reasons for any material departure from those standards; and
• Prepare the financial statements on the going concern basis unless it is inappropriate to presume that Aidlink will continue in business.
The Directors are responsible for keeping adequate accounting
records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2014. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of f raud and other irregularities.
The Directors are responsible for
the maintenance and integrity of the corporate and financial information included on the Aidlink’s website. Legislation in Ireland governing
the preparation and dissemination of financial statements may
differ f rom legislation in other jurisdictions.
GOING CONCERN
The company’s activities as well
as the related funding issues are
set out elsewhere in this Directors’ Report. In particular, the new funding arrangements with Irish
Aid require a commitment from Aidlink to meet expenditure from
its own resources to fulfil the funding conditions agreed with
Irish Aid. The Directors are satisfied that Aidlink will be able to meet
the requirements of Irish Aid. In addition, they have concluded that they have a reasonable expectation that the company has adequate resources to continue its operational activities for the foreseeable
future, being a period of twelve
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