Independent Auditor's Report to the trustees of Garfield Weston Foundation
We have audited the financial statements of Garfield Weston Foundation on pages 17 to 61 for the year ended 5 April 2008 which comprise the statement of financial activities, the balance sheet, the cash flow statement and the related notes. These financial statements have been prepared under the accounting policies set out therein.
This report is made solely to the Charity's Trustees, as a body, in accordance with section 44 of the Charities Act 1993. Our audit work has been undertaken so that we might state to the Charity's Trustees 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 Charity's Trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Respective responsibilities of trustees and auditors
The Trustees' responsibilities for preparing the annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards are set out in the Statement of Trustees' responsibilities.
We have been appointed as auditors under section 43 of the Charities Act 1993 and report in accordance with regulations made under section 44 of that Act. Our responsibility is to audit the financial statements in accordance with relevant legal and regulatory requirements and International Standards on Auditing (UK and Ireland).
We report to you our opinion as to whether the financial statements give a true and fair view and are properly prepared in accordance with the relevant financial reporting framework and are prepared in accordance with the Charities Act 1993. We also report to you if, in our opinion, the Charity has not kept sufficient accounting records or if we have not received all the information and explanations we require for our audit.We read the Trustees’ Report and consider whether it is consistent with the audited financial statements. We consider the implications for our report if we become aware of any apparent misstatements or material inconsistencies with the financial statements.
Basis of opinion
We conducted our audit in accordance with International Standard on Auditing (UK and Ireland) issued by the Auditing Practices Board. An audit includes examination, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements. It also includes an assessment of the significant estimates and judgements made by the Trustees in the preparation of the financial statements, and of whether the accounting policies are appropriate to the Charity's circumstances, consistently applied and adequately disclosed.
We planned and performed our audit 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 statements are free from material misstatement, whether caused by fraud or other irregularity or error. In forming our opinion we also evaluated the overall adequacy of the presentation of information in the financial statements.
Opinion
In our opinion:
- the financial statements give a true and fair view of the state of the Charity’s affairs as at 5 April 2008 and of its incoming resources and application of resources in the year then ended;
- the financial statements have been properly prepared in accordance with United Kingdom Generally Accepted Accounts Practice; and
- the financial statements have been properly prepared in accordance with the Charity’s Act 1993.
UHY Hacker Young LLP
Chartered Accountants
Registered Auditor
Quadrant House
17 Thomas More Street
Thomas More Square
London E1W 1YW
8 September 2008