Independent
Auditors’ Report to theMembers of British Greyhound Racing Fund Limited
We have audited the financial statements of British Greyhound Racing Fund Limited for the year ended 31March 2012, set out on pages 9 to 18. The financial reporting framework that has been applied in their preparation is applicable law and United KingdomAccounting Standards (United KingdomGenerally Accepted Accounting Practice).
This report ismade 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’smembers those matters we are required to state to themin an Auditors’ 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’smembers as a body, for our audit work, for this report, or for the opinions we have formed.
of Directors and Auditors As explainedmore 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. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board’s Ethical Standards for Auditors.
Respective Responsibilities
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 frommaterialmisstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the company’s circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimatesmade by the directors; and the overall presentation of the financial statements. In addition, we read all the financial and non-financial information in the Directors’ report to identifymaterial inconsistencies with the audited financial statements. If we become aware of any apparentmaterialmisstatements or inconsistencies we consider the implications for our report.
Scope of the Audit
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