Virgin Media 2007 Annual Report Download - page 151

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The Board of Directors and Shareholders
Virgin Media Investment Holdings Limited
We have audited the accompanying consolidated balance sheets of Virgin Media Investment
Holdings Limited and subsidiaries (the ‘‘Company’’) an indirect wholly-owned subsidiary of Virgin
Media Inc. (the ‘‘Parent’’) as of December 31, 2007 and 2006, and the related consolidated statements
of operations, shareholders’ equity, and cash flows for each of the three years in the period ended
December 31, 2007. Our audits also included the financial statement schedules listed in the Index at
Item 15(d). These financial statements and schedules are the responsibility of the Company’s
management. Our responsibility is to express an opinion on these financial statements and schedules
based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting
Oversight Board (United States). Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material misstatement. We
were not engaged to perform an audit of the Company’s internal control over financial reporting. Our
audit included consideration of internal control over financial reporting as a basis for designing audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion
on the effectiveness of the Company’s internal control over financial reporting. Accordingly we express
no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements, assessing the accounting principles used and significant
estimates made by management, and evaluating the overall financial statement presentation. We believe
that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects,
the consolidated financial position of Virgin Media Investments Holdings Limited and subsidiaries at
December 31, 2007 and 2006, and the consolidated results of their operations and their cash flows for
each of the three years in the period ended December 31, 2007, in conformity with U.S. generally
accepted accounting principles. Also, in our opinion, the related financial statement schedules, when
considered in relation to the basic financial statements taken as a whole, present fairly in all material
respects the information set forth therein.
As discussed in Note 2 to the consolidated financial statements, Virgin Media Inc. changed its
method of accounting for stock-based compensation expense as of January 1, 2006 to conform with the
provisions of Statement of Financial Accounting Standards No. 123(R), ‘‘Share-Based Payment’’;
changed its method of accounting for defined benefit pension and other postretirement plans as of
December 31, 2006 to conform with the provisions of Statement of Financial Accounting Standards
No. 158, ‘‘Employer’s Accounting for Defined Benefit Pension and Other Postretirement Plans’’; and
adopted Financial Accounting Standards Board Staff Position FAS 143-1 ‘‘Accounting for Electronic
Waste Obligations’’ as of December 12, 2006.
/s/ Ernst & Young LLP
London, England
February 29, 2008
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