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INDEPENDENT AUDITOR'S REPORT
To: the Board of Directors, Supervisory Board and Shareholders of HZPC Holland B.V.
Report on the financial statements
We have audited the accompanying financial statements for the year 1 July 2013 up to and including 30 June 2014 of HZPC Holland B.V., Joure, as included in this report on page 42 to 74, which comprise the consolidated and parent company balance sheet as at 30 June 2014, the consolidated and parent company profit and loss account for the year then ended and the notes, comprising a summary of the accounting policies and other explanatory information.
The directors’ responsibility
The directors are responsible for the preparation and fair presentation of these financial statements and for the preparation of the directors' report, both in accordance with Part 9 of Book 2 of the Netherlands Civil Code. Furthermore, the directors are responsible for such internal control as they determine is necessary to enable the preparation of the financial statements that are free from material misstatement, whether due to fraud or error.
Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Dutch law, including the Dutch Standards on Auditing. This requires that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
In our opinion, the financial statements give a true and fair view of the financial position of HZPC Holland B.V. as at 30 June 2014 and of its result for the year then ended in accordance with Part 9 of Book 2 of the Netherlands Civil Code.
Statement regarding other statutory requirements
Pursuant to the legal requirements under Section 2:393 sub 5 at e and f of the Netherlands Civil Code, we have no deficiencies to report as a result of our examination whether the directors' report, to the extent we can assess, has been prepared in accordance with Part 9 of Book 2 of this Code, and whether the information as required under Section 2:392 sub 1 at b - h has been annexed. Further, we report that the directors' report, to the extent we can assess, is consistent with the financial statements as required by Section 2:391 sub 4 of the Netherlands Civil Code.
Groningen, 16 october 2014
KPMG Accountants N.V.
R.W. van Dijk RA
Appropriation of profits
|x EUR 1,000|
|Appropriation of profits||2013/14||2012/13|
|Results of the financial year||9,199||1,016|
|Addition to the other reserves||-3,321||-232|
It is proposed to place the remaining profit of EUR 5,877,938 at the disposal of the shareholders. EUR 7.50 dividend is available per share. This proposal has been incorporated into the balance sheet.