Virgin Media 2009 Annual Report Download - page 98

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The Board of Directors and Shareholders
Virgin Media Inc.
We have audited the accompanying consolidated balance sheets of Virgin Media Inc. and
subsidiaries (the ‘‘Company’’) as of December 31, 2009 and 2008, and the related consolidated
statements of operations, shareholders’ equity, and cash flows for each of the three years in the period
ended December 31, 2009. Our audits also included the financial statement schedule listed in the Index
at Item15 (a). These financial statements and schedule are the responsibility of the Company’s
management. Our responsibility is to express an opinion on these financial statements and schedule
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. An
audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the
financial statements. An audit also includes assessing the accounting principles used and significant
estimates made by management, as well as 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 Inc. and subsidiaries at December 31, 2009 and
2008, and the consolidated results of their operations and their cash flows for each of the three years in
the period ended December 31, 2009, in conformity with U.S. generally accepted accounting principles.
Also, in our opinion, the related financial statement schedule, when considered in relation to the basic
financial statements taken as a whole, presents fairly, in all material respects the information set forth
therein.
As discussed in Note 2 to the consolidated financial statements, the Company changed its method
of accounting for its convertible debt with the adoption of the guidance originally issued in FASB staff
position APB14-1 ‘‘Accounting for Convertible Debt Instruments that may be Settled in Cash upon
Conversion (Including Partial Cash Settlement’’ (codified in FASB ASC Topic 470, Debt) effective
January 1, 2009.
We also have audited, in accordance with the standards of the Public Company Accounting
Oversight Board (United States), Virgin Media Inc. and subsidiaries’ internal control over financial
reporting as of December 31, 2009, based on criteria established in Internal Control-Integrated
Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission and our
report dated February 26, 2010 expressed an unqualified opinion thereon.
/s/ Ernst & Young LLP
London, England
February 26, 2010,
F-2