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John Lewis Partnership plc Annual Report and Accounts 2014


INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF JOHN LEWIS PARTNERSHIP PLC CONTINUED


Going concern


The Directors have voluntarily complied with Listing Rule 9.8.6(R)(3) of the Financial Conduct Authority and provided a statement in relation to going concern, set out on page 78, required for companies with a premium listing on the London Stock Exchange.


The Directors have requested that we review the statement on going concern as if the Parent Company were a premium listed company. We have nothing to report having performed our review.


As noted in the Directors’ statement, the Directors have concluded that it is appropriate to prepare the financial statements using the going concern basis of accounting. The going concern basis presumes that the Partnership and Parent Company have adequate resources to remain in operation, and that the Directors intend them to do so, for at least one year from the date the financial statements were signed.


As part of our audit we have concluded that the Directors’ use of the going concern basis is appropriate.


However, because not all future events or conditions can be predicted, these statements are not a guarantee as to the Partnership’s and Parent Company’s ability to continue as a going concern.


Opinion on other matter prescribed by the Companies Act


2006 In our opinion the information given in the Strategic Report and Directors’ Report for the financial year for which the financial statements are prepared is consistent with the financial statements.


Other matters on which we are


required to report by exception Adequacy of accounting records and information and explanations received Under the Companies Act 2006 we are required to report to you if, in our opinion:


– We have not received all the information and explanations we require for our audit; or


– 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.


We have no exceptions to report arising from this responsibility.


Directors’ remuneration


Under the Companies Act 2006 we are required to report to you if, in our opinion, certain disclosures of Directors’ remuneration specified by law are not made. We have no exceptions to report arising from this responsibility.


Corporate governance statement


The directors have chosen to voluntarily comply with the UK Corporate Governance Code (“the Code”) as if the Parent Company were a premium listed company. On page 121 of the Annual Report, as required by the Code Provision C.1.1, the Directors state that they consider the Annual Report taken as a whole to be fair, balanced and understandable and provides the information necessary for members to assess the Partnership’s and Parent Company’s performance, business model and strategy. On pages 70 to 73, as required by C.3.8 of the Code, the Audit and Risk Committee has set out the significant issues that it considered in relation to the financial statements, and how they were addressed. Under ISAs (UK & Ireland) we are required to report to you if, in our opinion:


– The statement given by the directors is materially inconsistent with our knowledge of the Partnership and Parent Company acquired in the course of performing our audit; or


– The section of the Annual Report describing the work of the Audit and Risk Committee does not appropriately address matters communicated by us to the Audit and Risk Committee.


We have no exceptions to report arising from this responsibility.


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