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Annual Report & Accounts 2012 - INDEPENDENT AUDITORS REPORT
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ANNUAL REPORT 2012 GVC H o l d i n g s INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF GVC HOLDINGS PLC We have audited the group financial statements of GVC Holdings PLC for the year ended 31 December 2012 which comprise the Consolidated Income Statement, the Consolidated Statement of Comprehensive Income, the Consolidated Balance Sheet, the Consolidated Statement of Changes in Equity, the Consolidated Statement of Cashflows and the related notes. The financial reporting framework that has been applied in their preparation of the Group financial statements is applicable law and International Financial Reporting Standards (IFRSs) as adopted by the European Union. This report is made solely to the company's members, as a body, in accordance with Section 80c of the Isle of Man 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 set out on page 18, the Directors are responsible for the preparation of the group 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 group 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 (APB's) Ethical Standards for Auditors. Scope of the Audit of the Financial Statements A description of the scope of an audit of financial statements is provided on the APB's website at www.frc.org.uk/apb/scope/private.cfm. Opinion on Financial Statements In our opinion the group financial statements: bull; give a true and fair view of the state of the group's affairs as at 31 December 2012 and of its profit for the year then ended; bull; have been properly prepared in accordance with IFRS as adopted by the European Union; and bull; have been prepared in accordance with the requirements of The Isle of Man Companies Act 2006 Other Matter We have reported separately on the parent company financial statements of GVC Holdings PLC for the year ended 31 December 2012. Grant Thornton UK LLP Chartered Accountants London 25 March 2013 20