Annual Report 2016
INDEPENDENT AUDITOR’S REPORT
We have audited the financial
statements of South Staffordshire
Plc for the year ended 31
March 2016 which comprise
the consolidated profit and
loss account, consolidated and
individual Company balance
sheets, the consolidated statement
of comprehensive income, the
consolidated and individual
company statements of changes
in equity, the consolidated cash
flow statement, notes to the
consolidated cash flow statement
and the 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), including
FRS 102 “The Financial Reporting
Standard applicable in the UK and
Republic of Ireland”.
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
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
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
audit. If we become aware of any
apparent material misstatements
or inconsistencies we consider the
implications for our report.
Opinion on financial statements
In our opinion the financial
statements:
• give a true and fair view of the
state of the company’s affairs as
at 31 March 2016 and of its profit
for the year then ended;
• have been properly prepared
in accordance with United
Kingdom Generally Accepted
Accounting Practice; and
• have been prepared in
accordance with the
requirements of the Companies
Act 2006.
Opinion on other matter
prescribed by the Companies Act
2006
In our opinion the information
given in the Strategic Report
and the Directors’ Report for
the financial year for which the
financial statements are prepared
is consistent with the financial
statements.
Matters on which we are required
to report by exception
We have nothing to report in
respect of the following matters
where the Companies Act 2006
requires us to report to you if, in our
opinion:
• adequate accounting records
have not been kept, or returns
adequate for our audit have not
been received from branches
not visited by us; or
• the parent financial statements
are not in agreement with the
accounting records and returns;
or
• certain disclosures of directors’
remuneration specified by law
are not made; or
• we have not received all the
information and explanations
we require for our audit.
Jacqueline Holden
for and on behalf of Deloitte LLP
Chartered Accountants and
Statutory Auditor
London, UK
30 August 2016
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