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Sheffield Wednesday Football Club plc<br />

Auditors’ Report to <strong>the</strong> Members<br />

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° °.. ¯ °.<br />

We have ~udRed <strong>the</strong> financial statements on pages 3 to 10 in accordance with approved Auditing Standards. These<br />

accounts have been prepared under <strong>the</strong> historical co$1 convention aS modified by <strong>the</strong> revaluation of <strong>the</strong> freehold<br />

stadium.<br />

For <strong>the</strong> re~sons stated in <strong>the</strong> Directors" Report, <strong>the</strong> company has not complied with Statement of Standard<br />

Accounting Practice No. 12 in that no provision has been made for depreciation on <strong>the</strong> fr~hold stadium_<br />

Except for <strong>the</strong> effects of accounting for depr(.=ciation on <strong>the</strong> freehold stadium in <strong>the</strong> manner described in <strong>the</strong><br />

preceding paragraph, in out opinion, <strong>the</strong> financial statements give a true and fair view of <strong>the</strong> state of affairs of <strong>the</strong><br />

Club at 31st May 1985, and of <strong>the</strong> surplus and source and application of funds, for <strong>the</strong> year <strong>the</strong>n ended and comply<br />

w~th <strong>the</strong> Companies Act 1985.<br />

PANNELL KERR FORSTER<br />

Chartered Accountants<br />

Sheffield.<br />

22nd August, 1985<br />

(]~¥(](]3_ (].q S OKKVH "-"- ,- H3aOOD X’~" .\¥(] O;Og 06. 60.’0;

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