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AUDITORS' REPORT
INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF HOLSTEIN UK
We have audited the fi nancial statements of Holstein UK for the year ended 31 March 2009 on pages 10 to 21. These fi nancial
statements have been prepared under the accounting policies set out on page 13.
This report is made solely to the charity’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 charity’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 charity and the charity’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 trustees who are also the directors of Holstein UK for the pur-
poses of company law are responsible for the preparation of the Directors’ Report and the fi nancial statements in accordance
with applicable law and United Kingdom Accounting Standards. (United Kingdom Generally Accepted Accounting Practice).
Our responsibility is to audit the fi nancial statements in accordance with relevant legal and regulatory requirements and Interna-
tional Standards on Auditing (UK and Ireland).
We report to you our opinion as to whether the fi nancial statements give a true and fair view and are properly prepared in accor-
dance with the Companies Act 1985. We also report to you, if in our opinion, the Trustees’ Report is consistent with the fi nancial
statements, if the charity has not kept proper accounting records, if we have not received all the information and explanations we
require for our audit, or if information specifi ed by law regarding trustees’ remuneration and transactions is not disclosed.
We read the Directors’ Report and consider the implications for our report if we become aware of any apparent misstatements
within it.
BASIS OF AUDIT OPINION
We conducted our audit in accordance with International Standards on Auditing (UK and Ireland) issued by the Auditing Prac-
tices Board. An audit includes examination, on a test basis, of evidence relevant to the amounts and disclosures in the fi nancial
statements. It also includes an assessment of the signifi cant estimates and judgements made by the directors in the preparation
of the fi nancial statements, and of whether the accounting policies are appropriate to the charity’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 suffi cient evidence to give reasonable assurance that the fi nancial statements are free from material misstate-
ment, 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 fi nancial statements.
OPINION
In our opinion the fi nancial statements
• give a true and fair view, in accordance with United Kingdom generally Accepted Accounting Practice of the state of
the charity’s affairs as at 31st March 2009 and of its incoming resources and application of resources, including its in
come and expenditure, in the year then ended; and
• have been properly prepared in accordance with the (Companies Act 1985).
• The information given in the director’s report is consistent with the Financial Statements.

MERCER & HOLE
Chartered Accountants and Registered Auditors
Gloucester House
72 London Road
St Albans
Herts AL1 1NS
ANNUAL REPORT 9
2008-2009 Annual Report.indd 11 22/09/2009 16:19:52
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