Page 39 - CTPA Annual Report 2011

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Charitable contributions
The Association has continued to support the
Look Good ...Feel Better Programme in the UK by providing
access to meeting facilities and administrative support to the
registered charity Cosmetic, Toiletry & Perfumery Foundation
(CTPF). In 2011, the CTPA’s Director of Commercial Affairs
also acted as Company Secretary to the CTPF. No charge is
made for these services.
Going concern
The Association has adequate financial resources and is well
placed to manage the business risks. Our planning process,
including financial projections, has taken into consideration
the current economic climate and its potential impact on the
various sources of income and planned expenditure. We have
a reasonable expectation that we have adequate resources to
continue in operational existence for the foreseeable future.
We believe that there are no material uncertainties that call
into doubt the Association's ability to continue. The accounts
have therefore been prepared on the basis that the Association
is a going concern.
Auditors
Insofar as each of the directors of the company at the date
of approval of this report is aware there is no relevant audit
information (information needed by the company’s auditors
in connection with preparing the audit report) of which the
company’s auditors are unaware. Each director has taken all
of the steps that he/she should have taken as a director in
order to make himself/herself aware of any relevant audit
information and to establish that the company’s auditors are
aware of that information.
Crowe Clark Whitehill LLP has expressed its willingness to
continue as auditor for the next financial year and a resolution
proposing their reappointment will be submitted to the
forthcoming Board Meeting.
By order of the Board
J Traylen, Secretary
27 March 2012
36.
Statement of Directors’
Responsibilities
The directors are responsible for preparing
the Annual Report and the financial
statements in accordance with applicable
law and United Kingdom Generally Accepted
Accounting Practice.
Company law requires the directors to
prepare financial statements for each
financial year which give a true and fair
view of the state of affairs of the company
at the end of the year and of the surplus or
deficit of the company for the 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;
• prepare the financial statements on
the going concern basis unless it is
inappropriate to assume that the
company will continue in business.
The directors are responsible for keeping
proper accounting records which disclose
with reasonable accuracy at any time the
financial position of the company and to
enable them to ensure that the financial
statements comply with the Companies Act
2006. The directors are also responsible for
safeguarding the assets of the company and
hence for taking reasonable steps for the
prevention and detection of fraud or other
irregularities.
The directors are responsible for the
maintenance and integrity of the corporate
and financial information included on the
company’s website.