Minerva Equity Limited - 31 March 2019 Final 19.08.2019 - Flipbook - Page 22
Minerva Equity Limited (formerly DMWSL 881 Limited)
Independent auditors’ report to the members of Minerva Equity
Limited (formerly DMWSL 881 Limited)
Report on the audit of the financial statements
Opinion
In our opinion, Minerva Equity Limited (formerly DMWSL 881 Limited)’s group financial statements
and company financial statements (the “financial statements”):
•
give a true and fair view of the state of the group’s and of the company’s affairs as at 31
March 2019 and of the group’s loss and cash flows for the 53-week period (the “period”) then ended;
•
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice (United Kingdom Accounting Standards, comprising FRS 102 “The Financial
Reporting Standard applicable in the UK and Republic of Ireland”, and applicable law); and
•
have been prepared in accordance with the requirements of the Companies Act 2006.
We have audited the financial statements, included within the Annual report and financial statements
(the “Annual Report”), which comprise: the consolidated and company balance sheets as at 31 March
2019; the consolidated profit and loss account, consolidated statement of comprehensive income, the
consolidated statement of cash flows, and the consolidated and company statements of changes in
equity for the 53 week period then ended; and the notes to the financial statements, which include a
description of the significant accounting policies.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (“ISAs (UK)”) and
applicable law. Our responsibilities under ISAs (UK) are further described in the Auditors’ responsibilities for
the audit of the financial statements section of our report. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our opinion.
Independence
We remained independent of the group in accordance with the ethical requirements that are relevant to
our audit of the financial statements in the UK, which includes the FRC’s Ethical Standard, and we have fulfilled
our other ethical responsibilities in accordance with these requirements.
Conclusions relating to going concern
ISAs (UK) require us to report to you when:
•
the directors’ use of the going concern basis of accounting in the 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 group’s and 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 the above matters.
However, because not all future events or conditions can be predicted, this statement is not a guarantee as
to the group’s and company’s ability to continue as a going concern. For example, the terms on which the
United Kingdom may withdraw from the European Union are not clear, and it is difficult to evaluate all of the
potential implications on the group’s trade, customers, suppliers and the wider economy.
Reporting on other information
The other information comprises all of the information in the Annual Report other than the financial
statements and our auditors’ report thereon. The directors are responsible for the other information. Our
opinion on the financial statements does not cover the other information and, accordingly, we do not
express an audit opinion or, except to the extent otherwise explicitly stated in this report, any form of
assurance thereon.
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