Board Members' Responsibilities
Statement of the responsibilities of the Board for the annual report and financial statements
Board members’ responsibilities
The Board members are responsible for preparing the report of the Board and the financial statements in accordance with applicable law and regulations.
Co-operative and Community Benefit Society law and social housing legislation require the board members to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
In preparing these financial statements, the board members are required to:
- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards and the Statement of Recommended Practice: Accounting by registered social housing providers 2014 have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and association will continue in business.
The board members are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and Association’s transactions and disclose with reasonable accuracy at any time the financial position of the Group and Association and enable them to ensure that the financial statements comply with the Co-operative and Community Benefit Societies Act 2014, the Co-operative and Community Benefit Societies (Group Accounts) Regulations 1969, the Housing and Regeneration Act 2008 and the Accounting Direction for Private Registered Providers of Social Housing 2015. They are also responsible for safeguarding the assets of the Group and Association and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Board is responsible for ensuring that the Report of the Board is prepared in accordance with the Statement of Recommended Practice: Accounting by registered social housing providers 2014.
The financial statements are published on the Group and Association’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements, which may vary from legislation in other jurisdictions. The maintenance and integrity of the Group and Association’s website is the responsibility of the board members. The board members' responsibility also extends to the ongoing integrity of the financial statements contained therein.
External auditors
BDO LLP was appointed as auditor during the year. BDO is willing to continue in office and the Audit and Risk Committee will make a recommendation to the Board regarding the continuation of BDO LLP in post as Auditor for the forthcoming year. BDO has provided services in relation to the annual audit of the Group and taxation advice in the year.
Statement of Compliance
In preparing this Operating and Financial Review and Board Report, the Board has followed the principles set out in the SORP 2014 update.
The Operating and Financial Review and Board Report was approved by the Board on 20 July 2021 and signed on its behalf by:
Sally Veitch Chair