47153 AG Barr Annual Report 2025 AW4 SQ WEB - Flipbook - Page 132
A.G. BARR p.l.c. Annual Report and Accounts 2025
I N D E P E N D E NT
AU D ITO R ’ S
R E P O R T TO TH E
MEMBERS OF
A .G. B A R R P. L .C .
R E P O R T O N TH E AU D IT O F TH E FI N A N C I A L S TATE M E NT S
1. Opinion
In our opinion:
• the financial statements of A.G. Barr p.l.c. (the ‘parent company’) and its subsidiaries (the ‘group’) give a true and fair view of the state of the group’s and of the parent
company’s affairs as at 25 January 2025 and of the group’s profit for the year then ended;
• the group financial statements have been properly prepared in accordance with United Kingdom adopted international accounting standards;
• the parent company financial statements have been properly prepared in accordance with United Kingdom adopted international accounting standards and as applied
in accordance with the provisions of the Companies Act 2006; and
• the financial statements have been prepared in accordance with the requirements of the Companies Act 2006.
We have audited the financial statements which comprise:
• the consolidated income statement;
• the consolidated statement of comprehensive income;
• the consolidated and parent company balance sheets;
• the consolidated and parent company statements of changes in equity;
• the consolidated and parent company cash flow statement; and
• the related notes 1 to 31.
The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom adopted international accounting standards and,
as regards the parent company financial statements, as applied in accordance with the provisions of the Companies Act 2006.
2. Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further
described in the auditor’s responsibilities for the audit of the financial statements section of our report.
We are independent of the group and the parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK,
including the Financial Reporting Council’s (the ‘FRC’s’) Ethical Standard as applied to listed public interest entities, and we have fulfilled our other ethical responsibilities in
accordance with these requirements. The non-audit services provided to the group and parent company for the year are disclosed in note 3 to the financial statements.
We confirm that we have not provided any non-audit services prohibited by the FRC’s Ethical Standard to the group or the parent company.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
3. Summary of our audit approach
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Key audit matters
The key audit matter that we identified in the current year was:
• Completeness and valuation of brand support discounts and cost accruals
Materiality
The materiality that we used for the group financial statements was £2.9m (2024: £2.5m) which was determined on the basis of 5%
(2024: 5%) of adjusted profit before tax.
Scoping
We performed audit procedures across 4 components accounting for 97% of revenue, 99% of profit before tax and 96% of net assets.
We have performed analytical procedures on the residual balances.
Significant changes in our approach
There have been no significant changes in our approach.
