Directors’ responsibility statement

 

The directors are responsible for the preparation and fair presentation of the Company (separate) and Group (consolidated) annual financial statements of Pick n Pay Holdings Limited, comprising the directors’ report, the statements of financial position at 29 February 2012, the statements of comprehensive income, the changes in equity and cash flows for the year then ended, and the notes to the financial statements which include a summary of significant accounting policies and other explanatory notes, in accordance with International Financial Reporting Standards, and the requirements of the Companies Act of South Africa.

The directors are also responsible for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and for maintaining adequate accounting records and an effective system of risk management, as well as the preparation of the supplementary schedules included in these financial statements.

The directors have made an assessment of the ability of the Company and its subsidiaries to continue as a going concern and have no reason to believe that the businesses will not be going concerns in the year ahead.

The auditor is responsible for reporting on whether the Company and Group annual financial statements are fairly presented in accordance with the applicable financial reporting framework.

APPROVAL OF ANNUAL FINANCIAL STATEMENTS

The Company and Group annual financial statements of Pick n Pay Holdings Limited, as identified above, were approved by the Board of directors on 10 May 2012 and signed on their behalf by:

Raymond Ackerman
Chairman

Gareth Ackerman
Director