During the financial year, the company’s bank accounts were blocked, and the directors confirm that both bank accounts were closed at the year end. Consequently, the company was unable to obtain complete bank statements or related documentation for the period.
Potential Omissions and Misstatements
Because the accounts were closed and full banking records could not be obtained, certain transactions—such as bank charges, interest, deposits, or withdrawals—may not be accurately reflected in these Financial Statements. The directors have relied on partial information (e.g., sales and purchase invoices, available payment receipts) to compile the financial data.
Effect on the True and Fair View
Due to the absence of complete banking records, the directors cannot verify the accuracy of all potential transactions. Therefore, these Financial Statements may not present a true and fair view of the company’s financial performance and position. Any discrepancies identified after additional information becomes available could result in material adjustments in subsequent periods.
Directors’ Efforts and Acknowledgment
The directors confirm they have made every reasonable effort to secure the missing information. However, the closure of the bank accounts has severely limited access to detailed records. They acknowledge that ultimate responsibility for the preparation of these Financial Statements lies with them, and any inaccuracies arising from incomplete data remain their liability.