Independent Auditors ’ Report to the members of Uniphar plc
Report on the financial statements
Our opinion In our opinion :
• Uniphar plc ’ s Group financial statements and company financial statements ( the “ financial statements ”) give a true and fair view of the Group ’ s and the Company ’ s assets , liabilities and financial position as at 31 December 2016 and of the Group ’ s profit and the Group ’ s and the Company ’ s cash flows for the year then ended ;
• the Group financial statements have been properly prepared in accordance with International Financial Reporting Standards (“ IFRSs ”) as adopted by the European Union ;
• the Company financial statements have been properly prepared in accordance with IFRSs as adopted by the European Union as applied in accordance with the provisions of the Companies Act 2014 ; and
• the financial statements have been properly prepared in accordance with the requirements of the Companies Act 2014 .
What we have audited The financial statements , included within the Annual Report , comprise :
• the Group and Company Balance Sheets as at 31 December 2016 ;
• the Group Income Statement for the year then ended ;
• the Group Statement of Comprehensive Income for the year ended ;
• the Group and Company Cash Flow Statement for the year then ended ;
• the Group and Company Statement of Changes in Equity for the year then ended ;
• the accounting policies ; and
• the notes to the financial statements , which include other explanatory information .
The financial reporting framework that has been applied in the preparation of the financial statements is Irish law and IFRSs as adopted by the European Union and , as regards the company financial statements , as applied in accordance with the provisions of the Companies Act 2014 .
In applying the financial reporting framework , the directors have made a number of subjective judgements , for example in respect of significant accounting estimates . In making such estimates , they have made assumptions and considered future events .
Matters on which we are required to report by the Companies Act 2014
• We have obtained all the information and explanations which we consider necessary for the purposes of our audit .
• In our opinion the accounting records of the company were sufficient to permit the company financial statements to be readily and properly audited .
• The Company Balance Sheet is in agreement with the accounting records .
• In our opinion the information given in the Directors ’ Report is consistent with the financial statements .
Matter on which we are required to report by exception
Directors ’ remuneration and transactions Under the Companies Act 2014 we are required to report to you if , in our opinion , the disclosures of directors ’ remuneration and transactions specified by Sections 305 to 312 of that Act have not been made . We have no exceptions to report arising from this responsibility .
Responsibilities for the financial statements and the audit
Our responsibilities and those of the directors As explained more fully in the Statement of Directors ’ Responsibilities set out on pages 30 and 31 , 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 Irish 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 .
This report , including the opinions , has been prepared for and only for the company ’ s members as a body in accordance with Section 391 of the Companies Act 2014 and for no other purpose . We do not , in giving these opinions , accept or assume responsibility for any other purpose or to any other person to whom this report is shown or into whose hands it may come save where expressly agreed by our prior consent in writing .
34 | Annual Report 2016