annington annual rep 2019-web - Page 45



Independent auditor’s report to the member of Annington Limited
Independent auditor’s report to the member of Annington Limited
INDEPENDENT AUDITOR’S REPORT TO
THE MEMBER OF ANNINGTON LIMITED
REPORT ON THE AUDIT OF THE
FINANCIAL STATEMENTS
Opinion
In our opinion:
the financial statements of Annington
Limited (the ‘parent company’) and
its subsidiaries (the ‘group’) give a
true and fair view of the state of the
group’s and of the parent company’s
affairs as at 31 March 2019 and of the
group’s profit for the year then ended;
the group financial statements
have been properly prepared in
accordance with International
Financial Reporting Standards (IFRSs)
as adopted by the European Union;
the parent company financial
statements have been properly
prepared in accordance with IFRSs
as adopted by the European Union
and as applied in accordance with
the provisions of the Companies Act
2006; and
the financial statements have been
prepared in accordance with the
requirements of the Companies Act
2006.
The financial reporting framework that
has been applied in their preparation is
applicable law and IFRSs as adopted by
the European Union and, as regards the
parent company financial statements,
as applied in accordance with the
provisions of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance
with International Standards on Auditing
(UK) (ISAs (UK)) and applicable law. Our
responsibilities under those standards
are further described in the auditor’s
responsibilities for the audit of the
financial statements section of
our report.
We are independent of the group and
the parent company in accordance with
the ethical requirements that are relevant
to our audit of the financial statements in
the UK, including the Financial Reporting
Council’s (the ‘FRC’s’) Ethical Standard,
and we have fulfilled our other ethical
responsibilities in accordance with these
requirements. We believe that the audit
evidence we have obtained is sufficient
and appropriate to provide a basis for
our opinion.
We have audited the financial
statements which comprise:
the consolidated income statement;
the consolidated statement of
comprehensive income;
the consolidated and parent company
balance sheets;
the consolidated and parent company
statements of changes in equity;
the consolidated and parent cash flow
statement; and
the related notes 1 to 33 and a to j.
44 | Annington Limited Annual Report & Accounts 2019
Conclusions relating to going concern
We are required by ISAs (UK) to report in
respect of the following matters where:
the directors’ use of the going
concern basis of accounting
in preparation of the financial
statements is not appropriate; or
the directors have not disclosed in
the financial statements any identified
material uncertainties that may cast
significant doubt about the company’s
ability to continue to adopt the
going concern basis of accounting
for a period of at least twelve months
from the date when the financial
statements are authorised for issue.
We have nothing to report in respect
of these matters.
Other information
The directors are responsible for the
other information. The other information
comprises the information included
in the annual report, other than the
financial statements and our auditor’s
report thereon. Our opinion on the
financial statements does not cover the
other information and, except to the
extent otherwise explicitly stated in our
report, we do not express any form of
assurance conclusion thereon.
In connection with our audit of the
financial statements, our responsibility
is to read the other information and, in
doing so, consider whether the other
information is materially inconsistent
with the financial statements or our
knowledge obtained in the audit or
otherwise appears to be materially
misstated. If we identify such material
inconsistencies or apparent material
misstatements, we are required to
determine whether there is a material
misstatement in the financial statements
or a material misstatement of the other
information. If, based on the work we
have performed, we conclude that there
is a material misstatement of this other
information, we are required to report
that fact.
We have nothing to report in respect
of these matters.
Responsibilities of directors
As explained more fully in the directors’
responsibilities statement, the directors
are responsible for the preparation of
the financial statements and for being
satisfied that they give a true and fair
view, and for such internal control as
the directors determine is necessary
to enable the preparation of financial
statements that are free from material
misstatement, whether due to fraud or
error.
In preparing the financial statements, the
directors are responsible for assessing
the group’s and the parent company’s
ability to continue as a going concern,
disclosing, as applicable, matters related
to going concern and using the going
concern basis of accounting unless the
directors either intend to liquidate the
group or the parent company or to
cease operations, or have no realistic
alternative but to do so.
Auditor’s responsibilities for the audit
of the financial statements
Our objectives are to obtain reasonable
assurance about whether the financial
statements as a whole are free from
material misstatement, whether due to
fraud or error, and to issue an auditor’s
report that includes our opinion.
Reasonable assurance is a high level
of assurance, but is not a guarantee
that an audit conducted in accordance
with ISAs (UK) will always detect a
material misstatement when it exists.
Matters on which we are required to
report by exception
Misstatements can arise from fraud
or error and are considered material
if, individually or in the aggregate,
they could reasonably be expected
to influence the economic decisions
of users taken on the basis of these
financial statements.
Under the Companies Act 2006 we
are required to report in respect of the
following matters if, in our opinion:
A further description of our
responsibilities for the audit of the
financial statements is located on the
FRC’s website at: www.frc.org.uk/
auditorsresponsibilities. This description
forms part of our auditor’s report.
adequate accounting records have
not been kept by the parent company,
or returns adequate for our audit have
not been received from branches not
visited by us; or
the parent company financial
statements are not in agreement with
the accounting records and returns; or
certain disclosures of directors’
remuneration specified by law are not
made; or
REPORT ON OTHER LEGAL AND
REGULATORY REQUIREMENTS
Opinions on other matters prescribed
by the Companies Act 2006
In our opinion, based on the work
undertaken in the course of the audit:
the information given in the strategic
report and the directors’ report for the
financial year for which the financial
statements are prepared is consistent
with the financial statements; and
the strategic report and the directors’
report have been prepared in
accordance with applicable legal
requirements.
In the light of the knowledge and
understanding of the group and of the
parent company and their environment
obtained in the course of the audit,
we have not identified any material
misstatements in the strategic report or
the directors’ report.
we have not received all the
information and explanations we
require for our audit.
We have nothing to report in respect
of these matters.
Use of our report
This report is made solely to the
company’s members, as a body, in
accordance 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
to them in an auditor’s 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.
Richard Howe FCA
(Senior statutory auditor)
For and on behalf of Deloitte LLP
Statutory Auditor
London, United Kingdom
16 August 2019
Annington Limited Annual Report & Accounts 2019 | 45

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