20495_Debenhams_AR_151104

More documents

Recommendations

Info

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF DEBENHAMS PLC (COMPANY) Report on the Company financial statements Our opinion In our opinion, Debenhams plc’s Company financial statements (the “financial statements”): • Give a true and fair view of the state of the Company’s affairs as at 29 August 2015; • Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and • Have been prepared in accordance with the requirements of the Companies Act 2006. What we have audited The financial statements, included within the annual report and accounts (the “annual report”) comprise: • The Company balance sheet as at 29 August 2015; and • The notes to the financial statements, which include a summary of significant accounting policies and other explanatory information. Certain required disclosures have been presented elsewhere in the annual report, rather than in the notes to the financial statements. These are cross-referenced from the financial statements and are identified as audited. The financial reporting framework that has been applied in the preparation of the financial statements is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Other required reporting Consistency of other information Companies Act 2006 opinion In our opinion, the information given in the strategic report and the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements. ISAs (UK & Ireland) reporting Under International Standards on Auditing (UK & Ireland) (“IASs (UK & Ireland)”) we are required to report to you if, in our opinion, information in the annual report is: • Materially inconsistent with the information in the audited financial statements; or • Apparently materially incorrect based on, or materially inconsistent with, our knowledge of the Company acquired in the course of performing our audit; or • Is otherwise misleading. We have no exceptions to report arising from this responsibility. Adequacy of accounting records and information and explanations received Under the Companies Act 2006 we are required to report to you if, in our opinion: • We have not received all the information and explanations we require for our audit; or • Adequate accounting records have not been kept by the Company, or returns adequate for our audit have not been received from branches not visited by us; or • The financial statements and the part of the directors’ remuneration report to be audited are not in agreement with the accounting records and returns. We have no exceptions to report arising from this responsibility. Directors’ remuneration Directors’ remuneration report – Companies Act 2006 opinion In our opinion, the part of the directors’ remuneration report to be audited has been properly prepared in accordance with the Companies Act 2006. Other Companies Act 2006 reporting Under the Companies Act 2006 we are required to report to you if, in our opinion, certain disclosures of directors’ remuneration specified by law are not made. We have no exceptions to report arising from this responsibility. 140 Debenhams plc Annual Report & Accounts & Accounts 2015 2015
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 page 85, 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 ISAs (UK & 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 Chapter 3 of Part 16 of the Companies Act 2006 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. What an audit of financial statements involves We conducted our audit in accordance with ISAs (UK & Ireland). An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: • Whether the accounting policies are appropriate to the Company’s circumstances and have been consistently applied and adequately disclosed; • The reasonableness of significant accounting estimates made by the directors; and • The overall presentation of the financial statements. We primarily focus our work in these areas by assessing the directors’ judgements against available evidence, forming our own judgements, and evaluating the disclosures in the financial statements. We test and examine information, using sampling and other auditing techniques, to the extent we consider necessary to provide a reasonable basis for us to draw conclusions. We obtain audit evidence through testing the effectiveness of controls, substantive procedures or a combination of both. In addition, we read all the financial and non-financial information in the annual report to identify material inconsistencies with the audited financial statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent with, the knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report. Other matter We have reported separately on the Group financial statements of Debenhams plc for the year ended 29 August 2015. JOHN ELLIS (SENIOR STATUTORY AUDITOR) FOR AND ON BEHALF OF PRICEWATERHOUSECOOPERS LLP CHARTERED ACCOUNTANTS AND STATUTORY AUDITORS LONDON 22 OCTOBER 2015 Strategic Report 1-37 Governance 38-58 Financial Statements XX-XX 86-153 141 Debenhams Debenhams plc Annual plc Annual Report Report & Accounts & 2015 141
Page 1 and 2:
ANNUAL REPORT & ACCOUNTS 2015
Page 3 and 4:
OUR BUSINESS MODEL We aim to create
Page 5 and 6:
FINANCIAL HIGHLIGHTS Gross transact
Page 7 and 8:
oard has reviewed its dividend poli
Page 9 and 10:
“WE HAVE BUILT A STRONG PLATFORM
Page 11 and 12:
MARKET CONTEXT An independent view
Page 13 and 14:
Increasing availability and choice
Page 15 and 16:
In 2014/15 we set out a strategic p
Page 17 and 18:
Our ambition is to grow our multi-c
Page 19 and 20:
Our stores remain central to our cu
Page 21 and 22:
Debenhams operates both its own and
Page 23 and 24:
IT investment in FY2015 £60m Produ
Page 25 and 26:
In addition to this, an extensive r
Page 27 and 28:
Risk Impact Examples of mitigation
Page 29 and 30:
Page 31 and 32:
Page 33 and 34:
Strategic KPIs Delivering a compell
Page 35 and 36:
Figure 1: Financial summary Gross t
Page 37 and 38:
Figure 3: Cash flow, uses of cash a
Page 39 and 40:
Business share by country (%) China
Page 41 and 42:
Engagement survey The results of th
Page 43 and 44:
We will continue to capture more em
Page 45 and 46:
DEAR SHAREHOLDER On behalf of the b
Page 47 and 48:
NIGEL NORTHRIDGE Role: Chairman of
Page 49 and 50:
Executive Committee Michael Sharp C
Page 51 and 52:
All employees gender diversity Male
Page 53 and 54:
directors, the board and its commit
Page 55 and 56:
effective from 31 July 2015. Having
Page 57 and 58:
MEMBERSHIP OF THE AUDIT COMMITTEE T
Page 59 and 60:
Financial Officer or the Company Se
Page 61 and 62:
DEAR SHAREHOLDER On behalf of the R
Page 63 and 64:
LINK BETWEEN REMUNERATION AND STRAT
Page 65 and 66:
What is the maximum potential value
Page 67 and 68:
What is the maximum potential value
Page 69 and 70:
REMUNERATION OUTCOMES IN DIFFERENT
Page 71 and 72:
The remuneration package for a newl
Page 73 and 74:
REMUNERATION POLICY TABLE FOR NON-E
Page 75 and 76:
THE ANNUAL REPORT ON REMUNERATION T
Page 77 and 78:
DIRECTORS’ SHAREHOLDINGS AND SHAR
Page 79 and 80:
HISTORICAL CHIEF EXECUTIVE PAY The
Page 81 and 82:
In line with FY2015, awards will be
Page 83 and 84:
The total interests of the Chairman
Page 85 and 86:
During the year, the Committee unde
Page 87 and 88:
een made under them. The Company al
Page 89 and 90:
STATEMENT OF DIRECTORS’ RESPONSIB
Page 91 and 92:
The scope of our audit and our area
Page 93 and 94: Area of focus How our audit address
Page 95 and 96: Other required reporting Consistenc
Page 97 and 98: CONSOLIDATED INCOME STATEMENT For t
Page 99 and 100: CONSOLIDATED BALANCE SHEET As at 29
Page 101 and 102: CONSOLIDATED CASH FLOW STATEMENT Fo
Page 103 and 104: Supplier income recognition The Gro
Page 105 and 106: Deferred tax is provided on tempora
Page 107 and 108: The fair values of quoted investmen
Page 109 and 110: 3 Segmental reporting IFRS 8 “Ope
Page 111 and 112: Retirement benefits The Group’s d
Page 113 and 114: 9 Finance costs 10 Taxation Analysi
Page 115 and 116: Changes to the UK corporation tax r
Page 117 and 118: Intangible assets includes within p
Page 119 and 120: Capitalised finance costs Finance c
Page 121 and 122: 20 Bank overdraft and borrowings 29
Page 123 and 124: Borrowing facilities The Group has
Page 125 and 126: iii) Foreign exchange risk The Grou
Page 127 and 128: The Group routinely monitors its ca
Page 129 and 130: The following table shows the Group
Page 131 and 132: The inflation assumption is based o
Page 133 and 134: The table below illustrates the est
Page 135 and 136: 25 Other non-current liabilities Pr
Page 137 and 138: 28 Share-based payments The total c
Page 139 and 140: ) Executive Share Option Plan The E
Page 141 and 142: 31 Analysis of changes in net debt
Page 143: FIVE YEAR RECORD BALANCE SHEETS Ass
Page 147 and 148: NOTES TO THE COMPANY FINANCIAL STAT
Page 149 and 150: Share capital Ordinary shares are c
Page 151 and 152: 6 Debtors Amounts owed by Group und
Page 153 and 154: 12 Called up share capital 29 Augus
Page 155 and 156: STORE LIST UK Aberdeen Altrincham A
Page 157 and 158: ADDITIONAL INFORMATION Registered o
show all

20495_Debenhams_AR_151104

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

Delete template?

Save as template?