Annual report 2010 - Imperial Tobacco Group

Independent Auditors’ Reportto the Members of Imperial Tobacco Group PLCWe have audited the Group financial statements of ImperialTobacco Group PLC for the year ended 30 September 2010which comprise the Consolidated Income Statement, theConsolidated Statement of Comprehensive Income, theConsolidated Balance Sheet, the Consolidated Statementof Changes in Equity, the Consolidated Cash FlowStatement, the Accounting Policies and related notes.The financial reporting framework that has been appliedin their preparation is applicable law and InternationalFinancial Reporting Standards (IFRSs) as adopted bythe European Union.Respective Responsibilities of Directors and AuditorsAs explained more fully in the Statement of Directors’Responsibilities, the Directors are responsible for thepreparation of the Group financial statements and for beingsatisfied that they give a true and fair view. Our responsibilityis to audit the Group financial statements in accordance withapplicable law and International Standards on Auditing (UKand Ireland). Those standards require us to comply with theAuditing Practices Board’s Ethical Standards for Auditors.This report, including the opinions, has been preparedfor and only for the Company’s members as a body inaccordance with Chapter 3 of Part 16 of the CompaniesAct 2006 and for no other purpose. We do not, in givingthese opinions, accept or assume responsibility for anyother purpose or to any other person to whom this reportis shown or into whose hands it may come save whereexpressly agreed by our prior consent in writing.Scope of the Audit of the Financial StatementsAn audit involves obtaining evidence about the amountsand disclosures in the financial statements sufficient togive reasonable assurance that the financial statementsare free from material misstatement, whether caused byfraud or error. This includes an assessment of: whetherthe accounting policies are appropriate to the Group’scircumstances and have been consistently applied andadequately disclosed; the reasonableness of significantaccounting estimates made by the Directors; and theoverall presentation of the financial statements.Opinion on Financial StatementsIn our opinion the Group financial statements:––give a true and fair view of the state of the Group’s affairsas at 30 September 2010 and of its profit and cash flowsfor the year then ended;––have been properly prepared in accordance with IFRSsas adopted by the European Union; andOpinion on Other Matters Prescribed by theCompanies Act 2006In our opinion the information given in the Directors’Report for the financial year for which the Group financialstatements are prepared is consistent with the Groupfinancial statements.In our opinion the information given in the CorporateGovernance Report set out with respect to internal controland risk management systems and about share capitalstructures is consistent with the financial statements.Matters on Which We Are Required to Reportby ExceptionWe have nothing to report in respect of the following:Under the Companies Act 2006 we are required to reportto you if, in our opinion:––certain disclosures of directors’ remuneration specifiedby law are not made; or––we have not received all the information and explanationswe require for our audit; or––a corporate governance statement has not beenprepared by the parent company.Under the Listing Rules we are required to review:––the Directors’ statement in the Corporate GovernanceReport, in relation to going concern; and––the part of the Corporate Governance Report relating tothe Company’s compliance with the nine provisions ofthe June 2008 Combined Code specified for our review.Other MatterWe have reported separately on the parent companyfinancial statements of Imperial Tobacco Group PLC for theyear ended 30 September 2010 and on the information inthe Directors’ Remuneration Report that is described ashaving been audited.David Charles (Senior Statutory Auditor)for and on behalf of PricewaterhouseCoopers LLPChartered Accountants and Statutory AuditorsBristol2 November 2010––have been prepared in accordance with the requirements ofthe Companies Act 2006 and Article 4 of the lAS Regulation.97