13 | Lloyds Bank plc Annual Report and Accounts 2024 |
Directors’ report continued
Statement of directors’ responsibilities
The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law, the directors are required to
prepare the Bank’s and the Group’s financial statements in accordance with international accounting standards in conformity with the
requirements of the Companies Act 2006. Under company law, the directors must not approve the financial statements unless they are
satisfied that they give a true and fair view of the state of affairs of the Bank and the Group, and of the profit or loss of the Bank and the Group
for that period. In preparing these financial statements, the directors are required to properly select and apply accounting policies; present
information, including accounting policies, in a manner that provides relevant, reliable, comparable and understandable information; provide
additional disclosures when compliance with the specific requirements in international accounting standards in conformity with the
requirements of the Companies Act 2006 are insufficient to enable users to understand the impact of particular transactions, other events and
conditions on the entity’s financial position and financial performance; and make an assessment of the Bank’s ability to continue as a going
concern.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Bank’s transactions and
disclose with reasonable accuracy at any time the financial position of the Bank and the Group, and enable them to ensure that the financial
statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Bank and the Group, and hence
for taking reasonable steps for the prevention and detection of fraud and other irregularities. A copy of the financial statements is placed on
the website www.lloydsbankinggroup.com/investors/financial-downloads.html. The directors are responsible for the maintenance and
integrity of all information relating to the Bank on that website. Legislation in the UK governing the preparation and dissemination of financial
statements may differ from legislation in other jurisdictions.
Each of the current directors who are in office as at the date of this report, and whose names and functions are listed on page 14 of this annual
report, confirm that, to the best of his or her knowledge:
• The Bank’s and the Group’s financial statements, which have been prepared in accordance with international accounting standards in
conformity with the requirements of the Companies Act 2006 give a true and fair view of the assets, liabilities, financial position and profit
or loss of the Bank and the Group
• The management report contained in the strategic report and the directors’ report includes a fair review of the development and
performance of the business and the position of the Bank and the Group together with a description of the principal risks and uncertainties
they face
• The Annual Report and Accounts, taken as a whole, are fair, balanced and understandable and provides the information necessary for
shareholders to assess the Bank’s and the Group’s position, performance, business model and strategy. The directors have also separately
reviewed and approved the strategic report
Independent auditor and audit information
Each person who is a director at the date of approval of this report confirms that, so far as the director is aware, there is no relevant audit
information of which the Bank’s auditor is unaware and each director has taken all the steps that he or she ought to have taken as a director to
make himself or herself aware of any relevant audit information and to establish that the Bank’s auditor is aware of that information. This
confirmation is given and should be interpreted in accordance with the provisions of the Companies Act 2006.
On behalf of the Board
Kate Cheetham
Company Secretary
27 February 2025
Lloyds Bank plc
Registered in England & Wales
Company Number 2065
