Carphone Warehouse 2005 Annual Report Download - page 37

www.cpwplc.com 33
Statement of Directors’ Responsibilities
United Kingdom company law requires the Directors to prepare financial
statements for each financial period which give a true and fair view of the
state of affairs of the Company and Group and of their profit or loss for that
period. In preparing those financial statements, the Directors are required to:
•Select suitable accounting policies and then apply them consistently;
•Make judgements and estimates that are reasonable and prudent;
•State whether applicable accounting standards have been followed; and
•Prepare the financial statements on the going concern basis unless it
is inappropriate to presume that the Group will continue in business.
The Directors are responsible for keeping proper accounting records which
disclose with reasonable accuracy at any time the financial position of the
Company and Group and enable them to ensure that the financial statements
comply with the Companies Act 1985. They are also responsible for taking
such steps as are reasonably open to them to safeguard the assets of the
Company and Group and to prevent and detect fraud and other irregularities.
Independent Auditors’ Report
Independent Auditors’ Report to the members of The Carphone
Warehouse Group PLC
We have audited the financial statements of The Carphone Warehouse
Group PLC for the period ended 2 April 2005 which comprise the profit
and loss account, the balance sheets, the cash flow statement, the
reconciliation of operating profit to net cash inflow from operating activities,
the statement of total recognised gains and losses, the statement of
accounting policies, and the related notes 1 to 32. These financial
statements have been prepared under the accounting policies set out
therein. We have also audited the information in the part of the Directors’
Remuneration Report that is described as having being audited.
This Report is made solely to the Company’s members, as a body, in
accordance with section 235 of the Companies Act 1985. Our audit work
has been undertaken so that we might state to the Company’s members
those matters we are required to state to them in an auditors’ report and
for no other purpose. To the fullest extent permitted by law, we do not
accept or assume responsibility to anyone other than the Company and the
Company’s members as a body, for our audit work, for this Report, or for
the opinions we have formed.
Respective responsibilities of Directors and Auditors
As described in the Statement of Directors’ Responsibilities, the Company’s
Directors are responsible for the preparation of the financial statements in
accordance with applicable United Kingdom law and accounting standards.
They are also responsible for the preparation of the other information
contained in the Annual Report including the Directors’ Remuneration
Report. Our responsibility is to audit the financial statements and the part
of the Directors’ Remuneration Report described as having been audited in
accordance with relevant United Kingdom legal and regulatory requirements
and auditing standards.
We report to you our opinion as to whether the financial statements give a
true and fair view and whether the financial statements and the part of the
Directors’ Remuneration Report described as having been audited have
been properly prepared in accordance with the Companies Act 1985. We
also report if, in our opinion, the Directors’ Report is not consistent with the
financial statements, if the Company has not kept proper accounting
records, if we have not received all the information and explanations we
require for our audit, or if information specified by law regarding Directors’
remuneration and transactions with the Company and other members of
the Group is not disclosed.
We review whether the corporate governance statement reflects the
Company’s compliance with the nine provisions of the July 2003 FRC
Combined Code specified for our review by the Listing Rules of the Financial
Services Authority, and we report if it does not. We are not required to
consider whether the Board’s statements on internal control cover all risks
and controls, or form an opinion on the effectiveness of the Group’s
corporate governance procedures or its risk and control procedures.
We read the Directors’ Report and the other information contained in the
Annual Report for the above period as described in the contents section
including the unaudited part of the Directors’ Remuneration Report for the
above period and consider the implications for our Report if we become
aware of any apparent misstatements.
Basis of audit opinion
We conducted our audit in accordance with United Kingdom auditing
standards issued by the Auditing Practices Board. An audit includes
examination, on a test basis, of evidence relevant to the amounts and
disclosures in the financial statements and the part of the Directors’
Remuneration Report described as having been audited. It also includes
an assessment of the significant estimates and judgements made by
the Directors in the preparation of the financial statements and of whether
the accounting policies are appropriate to the Company’s circumstances,
consistently applied and adequately disclosed.
We planned and performed our audit so as to obtain all the information and
explanations which we considered necessary in order to provide us with
sufficient evidence to give reasonable assurance that the financial statements
and the part of the Directors’ Remuneration Report described as having been
audited are free from material misstatement, whether caused by fraud or other
irregularity or error. In forming our opinion, we also evaluated the overall
adequacy of the presentation of information in the financial statements and the
part of the Directors’ Remuneration Report described as having been audited.
Opinion
In our opinion:
•the financial statements give a true and fair view of the state of affairs
of the Company and the Group as at 2 April 2005 and of the profit of
the Group for the period then ended; and
•the financial statements and the part of the Directors’ Remuneration Report
described as having been audited have been properly prepared in
accordance with the Companies Act 1985.
Deloitte & Touche LLP
Chartered Accountants and Registered Auditors
London
6 June 2005