Carphone Warehouse 2013 Annual Report Download - page 51
Download and view the complete annual report
Please find page 51 of the 2013 Carphone Warehouse annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.ANNUAL REPORT 2013 CARPHONE WAREHOUSE GROUP PLC 49
BUSINESS REVIEW GOVERNANCE FINANCIAL STATEMENTS
INDEPENDENT AUDITORS’ REPORT
We have audited the financial statements of Carphone Warehouse
Group plc for the year ended 31 March 2013 which comprise the
Consolidated Income Statement, the Consolidated Statement of
Comprehensive Income, the Consolidated Statement of Changes
inEquity, the Consolidated Balance Sheet, the Consolidated Cash
Flow Statement, the notes to the Consolidated Financial Statements
1 to 22, the Company Balance Sheet and the notes 1 to 11 ofthe
Company Financial Statements. The financial reporting framework
that has been applied in the preparation of the Group financial
statements is applicable law and IFRS. The financial reporting
framework that has been applied in the preparation of the Company
financial statements is applicable law and UK GAAP.
This report is made solely to the Company’s members, as a body,
inaccordance with Chapter 3 of Part 16 of the Companies Act 2006.
Our audit work has been undertaken so that we might state to the
Company’s members those matters we are required to state tothem
in an auditors’ report and for no other purpose. Tothe fullest extent
permitted by law, we do not accept or assume responsibility to
anyone other than the Company and the Company’s members
asabody, for our audit work, for this report, or for the opinions
wehave formed.
RESPECTIVE RESPONSIBILITIES OF DIRECTORS AND AUDITORS
As explained more fully in the Statement of Directors’ Responsibilities,
the directors are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view.
Our responsibility is to audit and express an opinion on thefinancial
statements in accordance with applicable law andInternational
Standards on Auditing (UK and Ireland). Thosestandards require
usto comply with the Auditing Practices Board’s Ethical Standards
forAuditors.
SCOPE OF THE AUDIT OF THE FINANCIAL STATEMENTS
An audit involves obtaining evidence about the amounts and
disclosures in the financial statements sufficient to give reasonable
assurance that the financial statements are free from material
misstatement, whether caused by fraud or error. This includes
anassessment of: whether the accounting policies are appropriate
tothe Group’s and the Company’s circumstances and have been
consistently applied and adequately disclosed; the reasonableness
ofsignificant accounting estimates made by the directors; and
theoverall presentation of the financial statements. In addition,
weread all the financial and non-financial information in the
annual report to identify material inconsistencies with the audited
financialstatements. If we become aware of any apparent material
misstatements or inconsistencies we consider the implications
forour report.
OPINION ON FINANCIAL STATEMENTS
In our opinion:
— the financial statements give a true and fair view of the state
ofthe Group’s and of the Company’s affairs as at 31 March 2013
and of the Group’s profit for the year then ended;
— the Group financial statements have been properly prepared
inaccordance with IFRS;
— the Company financial statements have been properly
prepared in accordance with UK GAAP; and
— the financial statements have been prepared in accordance
withthe requirements of the Companies Act 2006 and,
asregards the Group financial statements, Article 4 of
theIASRegulation.
OPINION ON OTHER MATTERS PRESCRIBED
BY THE COMPANIES ACT 2006
In our opinion:
— the part of the Remuneration Report to be audited has
beenproperly prepared in accordance with the Companies
Act2006; and
— the information given in the Directors’ Report for the financial
year for which the financial statements are prepared is
consistent with the financial statements.
MATTERS ON WHICH WE ARE REQUIRED
TO REPORT BYEXCEPTION
We have nothing to report in respect of the following matters
wherethe Companies Act 2006 requires us to report to you if,
inouropinion:
— adequate accounting records have not been kept by the
Company, or returns adequate for our audit have not been
received from branches not visited by us; or
— the Company financial statements and the part of the
Remuneration Report to be audited are not in agreement
withthe accounting records and returns; or
— certain disclosures of directors’ remuneration specified
bylaware not made; or
— we have not received all the information and explanations
werequire for our audit.
OTHER MATTERS
Although not required to do so, the directors have voluntarily
chosen to make a corporate governance statement detailing the
extent of their compliance with the UK Corporate Governance
Code. We reviewed:
— the directors’ statement, contained on page 29 of the Business
Review, in relation to going concern;
— the part of the report on Corporate Governance relating
totheCompany’s compliance with the nine provisions of the
UKCorporate Governance Code specified for our review; and
— certain elements of the Remuneration Report.
John Adam (Senior Statutory Auditor)
for and on behalf of Deloitte LLP
Chartered Accountants and Statutory Auditors
London, United Kingdom
25 June 2013