b"Strategic report Governance Financial statementsStatement of Directors responsibilitiesThe Directors are responsible for preparing the Annual Report andDirectors responsibility statementtheaudited financial statements in accordance with applicable lawWe confirm that to the best of our knowledge:andregulations.the financial statements, prepared in accordance with the relevant Company law requires the Directors to prepare financial statements forfinancial reporting framework, give a true and fair view of the each financial period. Under that law the Directors are required toassets, liabilities, financial position of the Group and the Company prepare the Group financial statements in accordance withand loss of the Group and the undertakings included in the International Financial Reporting Standards (IFRSs) as adopted byconsolidation taken as a whole; the European Union and Article 4 of the International Accountingthe Strategic Report includes a fair review of the development and Standards (IAS) Regulation and have elected to prepare the Parentperformance of the business and the position of the Company and Company financial statements in accordance with United Kingdomthe undertakings included in the consolidation taken as a whole, Generally Accepted Accounting Practice (United Kingdom Accountingtogether with a description of the principal risks and uncertainties Standards and applicable law), including Financial Reporting Standardthat they face; and 101 Reduced Disclosure Framework. Under company law the Directorsthe Annual Report and financial statements, taken as a whole, are must not approve the financial statements unless they are satisfiedfair, balanced and understandable and provide the information that they give true and fair view of the state of affairs of the Group andnecessary for shareholders to assess the Companys and the the Company and of the profit or loss of the Group for that period. Group's position and the Group's performance, business model and strategy. In preparing the Group financial statements, International Accounting Standard 1 requires that the Directors: This responsibility statement was approved by the Board on 13 July 2020 and signed on its behalf by:properly select and apply accounting policies; present information, including accounting policies, in a manner that provides relevant, reliable, comparable and understandableDr Mark PaytonMartin Glanfieldinformation;Chief Executive OfficerChief Financial Officerprovide additional disclosures when compliance with the specific requirements in IFRSs is insufficient to enable users to understand the impact of particular transactions, other events and conditions on the entitys financial position and financial performance; and make an assessment of the Groups ability to continue as a goingconcern. In preparing the Company financial statements, the Directors 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 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 unlessit is inappropriate to presume that the Company will continuein business. The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Groups and the Companys transactions and disclose with reasonable accuracy at any time the financial key position of the Group and the Company, enabling them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.The Directors are responsible for the maintenance and integrity of the corporate and financial information included on the Groups website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.Mercia Asset Management PLC 59Annual Report and Accounts 2020"