Constance Hotels, Resorts and Golf | Annual Report 2023

120

Corporate Governance

Constance Hotels Services Limited

Annual Report 2023

121

Corporate Governance

Constance Hotels Services Limited

Annual Report 2023

Statement of Directors’ Responsibilities In Respect of Financial Statements

Other Statutory Disclosures (Pursuant to section 221 of the Companies Act 2001)

Directors of Subsidiary Companies (as at 31 December 2023)

The Directors acknowledge their responsibilities for:

i. Adequate accounting records and maintenance of effective internal control systems; ii. The preparation of financial statements which fairly present the state of affairs of the Company as at the end of the financial year and the results of its operations and cash flows for that period and which comply with International Financial Reporting Standards (IFRS); iii. The selection of appropriate accounting policies supported by reasonable and prudent judgements.

The External Auditors are responsible for reporting on whether the financial statements are fairly presented. The Directors report that:

Directors

Ariatoll

Services Ltd

Beauport

Industries Limited

Constance Hospitality Management Limited

Constance Hospitality Training Centre Ltd

Constance Hotels International Services Limited Constance Hotels Investment Limited Constance

Industries Limited Halaveli

Development Ltd

Hotels Constance (UK) Ltd LRM

Company Ltd Moofushi

Development Ltd

Mourouk Ebony

Management Ltd White Sand

Paradise Ltd

The Waterfront Pvt Ltd

i. Adequate accounting records and an effective system of internal controls and risk management have been maintained; ii. Appropriate accounting policies supported by reasonable and prudent judgements and estimates have been used consistently; iii. International Financial Reporting Standards have been adhered to. Any departure in the interest of fair presentation has been disclosed, explained and quantified; iv. The Code of Corporate Governance has been adhered to in all material aspects and reasons provided for non-compliance.

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Jitendra BISSESSUR Kevin CHAN TOO

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Ganeshanlall CHEENEEBASH Vincent DE MARASSE ENOUF

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George J. DUMBELL

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Ezra S. JHUBOO

Jayeen S. Georges JHUBOO

Kian Serge S JHUBOO

Approved by the Board of Directors on and signed on its behalf by:

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Tangi LEGRAND

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Liong Kian LI KWOK CHEONG Tat Kien LI KWOK CHEONG

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Andrew MILTON Clément D. REY

George J. Dumbell (s) Chairman

Clément D. Rey (s) Executive Director Constance Group Chief Executive Officer

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Glenny SAVY

Rod THORRINGTON Jean-Jacques VALLET

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28 March 2024

DONATIONS There were no political donation made for both 2023 and 2022. For other disclosures on donations, please refer to page 55.

AUDITORS’ REMUNERATION The fees paid to the auditors (exclusive of VAT) were:

THE GROUP

THE HOLDING COMPANY

2023 MUR’000

2022 MUR’000

2023 MUR’000

2022 MUR’000

Audit fees paid to: Ernst & Young

6,192

1,750

5,925

1,750

895

-

Other firms

822

-

Fees for other services paid to: Ernst & Young

452 681

150

102

- -

-

Other firms

1,265

Fees for other services relate to accounting, consultancy and taxation services.

George J. Dumbell (s) Chairman

Clément D. Rey (s) Executive Director Constance Group Chief Executive Officer

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