Group Chief Executive Officer’s and Group Chief Financial Officer’s Responsibility Statement

The Consolidated Financial Statements of Sunshine Holdings PLC have been prepared in accordance with the Sri Lanka Financial Reporting Standards (SLFRS) issued by the Institute of Chartered Accountants of Sri Lanka, the Companies Act No. 07 of 2007, the Sri Lanka Accounting and Auditing Standards Act No. 15 of 1995, and the Listing Rules of the Colombo Stock Exchange. The accounting policies applied in preparing the Consolidated Financial Statements are appropriate and consistently followed by the Company. Any material departures are disclosed and explained in the notes to the Consolidated Financial Statements. There are no deviations from the prescribed accounting standards. Comparative information has been reclassified as necessary to align with the current presentation.

Significant accounting policies and estimates, which involve substantial judgment and complexity, have been discussed with our External Auditors and the Audit Committee. The Board of Directors, the Audit Committee, and the Group Chief Financial Officer take responsibility for the integrity and objectivity of these Consolidated Financial Statements. Estimates and judgments were made prudently and reasonably to ensure that the Consolidated Financial Statements accurately reflect the transactions and present the Company’s financial position fairly. To support this, the Company has implemented a robust internal control system and maintains thorough accounting records to safeguard assets and prevent fraud and other irregularities, which are continuously reviewed and updated.

Our Subsidiaries’ Internal Auditors conduct periodic audits to provide reasonable assurance that the Company’s policies and procedures are consistently followed. Nonetheless, inherent limitations exist in any system of internal controls and accounting.

Messrs. KPMG, Chartered Accountants, audited the Company’s Consolidated Financial Statements, and their report can be found on pages 87 to 91 of this Annual Report. The Audit Committee regularly meets with the internal audit team and the External Auditors to review audit plans, evaluate their performance, and discuss reports on internal controls and financial reporting issues. To maintain complete independence, the External Auditors and Internal Auditors have unrestricted access to the Audit Committee for discussing significant matters.

The Audit Committee pre-approves all audit and non-audit services provided by our External Auditors, KPMG, to ensure their independence is not compromised. We confirm that the Company complies with all applicable laws, regulations, and guidelines and that there are no material litigations pending against the Company, other than those disclosed in the Financial Statements within this Annual Report.

S Sathasivam
Executive Director/Group Chief Executive Officer

Aruna Deepthikumara
Executive Director/ Group Chief Financial Officer

30 May 2024