LCP Proudreed PLC - Irish Stock Exchange

Accountants Report to the Members of LCP Proudreed PLC
The Directors 19 October 2005
LCP Proudreed PLC
c/o SPV Management Limited
Tower 42 (Level 11)
International Financial Centre Direct Line: 020 7951 3247
25 Old Broad Street Direct Fax: 020 7951 1693
London EC2N 1HQ
e-mail: pwallace2@uk.ey.com
Dear Sirs
We report on the financial information in respect of LCP Proudreed PLC (‘‘the Issuer’’) as set out below.
This financial information has been prepared for inclusion on pages 121 to 122 of the Offering Circular
dated 19 October 2005 (the ‘‘Offering Circular’’) of the Issuer on the basis of the accounting policies set
out in note 1 of the financial information.
The Issuer’s activities will principally be the issue of the Notes.
The Issuer was incorporated on 4 August 2005.
Basis of preparation
The financial information set out below is based on the audited non-statutory financial statements of the
Issuer to which no adjustment was considered necessary.
Responsibilities
The Directors of the Issuer are responsible for preparing the financial information on the basis of
preparation set out in Note 1 to the financial information.
It is our responsibility to form an opinion as to whether the financial information gives a true and fair view,
for the purposes of the Offering Circular, and to report our opinion to you.
Basis of opinion
We conducted our work in accordance with the Statements of Investment Circular Reporting Standards
issued by the Auditing Practices Board in the United Kingdom. Our work included an assessment of
evidence relevant to the amounts and disclosures in the financial information. It also included an
assessment of significant estimates and judgments made by those responsible for the preparation of the
financial statements underlying the financial information and whether the accounting policies are
appropriate to the entity’s circumstances, consistently applied and adequately disclosed.
We planned and performed our work so as to obtain all the information and explanations which we
considered necessary in order to provide us with sufficient evidence to give reasonable assurance that the
financial information is free from material misstatement whether caused by fraud or other irregularity or
error.
Opinion
In our opinion the financial information gives, for the purposes of the Offering Circular, a true and fair
view of the state of affairs of the Issuer as at 19 October 2005 in accordance with the basis of preparation
set out below.
121