Annual Report 2015
Independent Auditor’s Report
We have audited the financial
statements of South Staffordshire Plc
for the year ended 31 March 2015
which comprise the consolidated
profit and loss account, the
consolidated and individual Company
balance sheets, the consolidated
statement of total recognised
gains and losses, the reconciliation
of movements in consolidated
shareholders’ funds, the consolidated
cash flow statement, notes to the
consolidated cash flow statement,
and the related notes 1 to 32. The
financial reporting framework that
has been applied in their preparation
is applicable law and United
Kingdom Accounting Standards
(United Kingdom Generally Accepted
Accounting Practice).
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
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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.
Respective responsibilities of
Directors and auditor
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.
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.
Scope of the audit 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 from material misstatement,
whether caused by fraud or error.
This includes an assessment of:
whether the accounting policies
are appropriate to the Group’s
and the parent Company’s
circumstances and have been
consistently applied and adequately
disclosed; the reasonableness of
significant accounting estimates
made by the Directors; and the
overall presentation of the financial
statements. In addition, we read
all the financial and non-financial
information in the annual report to
identify material inconsistencies with
the audited financial statements
and to identify any information that
is apparently materially incorrect
based on, or materially inconsistent
with, the knowledge acquired by
us in the course of performing the