G4S Annual Report and Accounts 2011

More documents

Recommendations

Info

Overview Strategic review Performance Independent auditor’s report to the members of G4S plc We have audited the financial statements of G4S plc for the year ended 31 December 2011 which comprise the Consolidated Income Statement, the Consolidated Statement of Comprehensive Income, the Consolidated Statement of Financial Position, the Parent Company Balance Sheet, the Consolidated Statement of Cash Flow, the Consolidated Statement of Changes in Equity, the Parent Company Reconciliation of Movements in Shareholders’ Funds and the related notes. The financial reporting framework that has been applied in the preparation of the group financial statements is applicable law and International Financial Reporting Standards (IFRSs) as adopted by the EU. The financial reporting framework that has been applied in the preparation of the parent company financial statements is applicable law and UK Accounting Standards (UK 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 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 71, 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 (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: uu uu uu uu the financial statements give a true and fair view of the state of the group’s and of the parent company’s affairs as at 31 December 2011 and of the group’s profit for the year then ended; the group financial statements have been properly prepared in accordance with IFRSs as adopted by the EU; the parent company financial statements have been properly prepared in accordance with UK Generally Accepted Accounting Practice; the financial statements have been prepared in accordance with the requirements of the Companies Act 2006; and, as regards the group financial statements, Article 4 of the IAS Regulation. Opinion on other matters prescribed by the Companies Act 2006 In our opinion: uu the part of the Directors’ Remuneration Report to be audited has been properly prepared in accordance with the Companies Act 2006; and uu the information given in 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: Under the Companies Act 2006 we are required to report to you if, in our opinion: uu uu uu uu adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or the parent company financial statements and the part of the Directors’ Remuneration Report to be audited 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. Under the Listing Rules we are required to review: uu the directors’ statement, set out on page 78, in relation to going concern; uu uu the part of the Corporate Governance Statement pages 57 to 61 relating to the company’s compliance with the nine provisions of the UK Corporate Governance Code; and certain elements of the report to shareholders by the board on directors’ remuneration. AG Cates (Senior Statutory Auditor) for and on behalf of KPMG Audit Plc, Statutory Auditor Chartered Accountants 15 Canada Square Canary Wharf E14 5GL 12 March 2012 72 G4S plc Annual Report and Accounts 2011
Governance Financial statements Shareholder information Consolidated income statement For the year ended 31 December 2011 Continuing operations Revenue 5, 6 7,522 7,258 Profit from operations before amortisation and impairment of acquisition-related intangible assets, share of profit from associates and exceptional items 528 525 Share of profit from associates 3 5 Profit from operations before amortisation and impairment of acquisition-related intangible assets and exceptional items (PBITA) 6 531 530 Amortisation and impairment of acquisition-related intangible assets (99) (88) Acquisition-related expenses (2) (4) Aborted acquisition and legal settlement costs (55) – Profit from operations before interest and taxation (PBIT) 6, 8 375 438 Finance income 5,12 111 98 Finance costs 13 (207) (201) Profit before taxation (PBT) 279 335 Taxation: – Before amortisation and impairment of acquisition-related intangible assets and exceptional items (95) (101) – On amortisation of acquisition-related intangible assets 25 25 – On acquisition-related expenses 1 1 – On aborted acquisition and legal settlement costs 13 – 14 (56) (75) Profit after taxation 223 260 Loss from discontinued operations 7 (25) (15) Profit for the year 198 245 Attributable to: Equity holders of the parent 181 223 Non-controlling interests 17 22 Profit for the year 198 245 Earnings per share attributable to equity shareholders of the parent 16 For profit from continuing operations: Basic and diluted 14.7p 16.9p For profit from continuing and discontinued operations: Basic and diluted 12.9p 15.9p Notes 2011 £m 2010 £m G4S plc Annual Report and Accounts 2011 73
Page 1 and 2:
G4S plc Annual Report and Accounts
Page 3 and 4:
Governance Financial statements Sha
Page 5 and 6:
Page 7 and 8:
Page 9 and 10:
Page 11 and 12:
Page 13 and 14:
Page 15 and 16:
Page 17 and 18:
Page 19 and 20:
Page 21 and 22:
Page 23 and 24: Governance Financial statements Sha
Page 73: Governance Financial statements Sha
Page 125 and 126:
Page 127 and 128:
Page 129 and 130:
Page 131 and 132:
Page 133 and 134:
Page 135 and 136:
Page 137 and 138:
Page 139 and 140:
Page 141 and 142:
Page 144:
G4S plc The Manor Manor Royal Crawl
show all

G4S Annual Report and Accounts 2011

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?