Company Registration No. 163838 (Eire) TITHE SAOIRE CHLEIRE TEORANTA ABRIDGED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2001 C.R.O. 31 JAN 2003 faTITHE SAOIRE CHLEIRE TEORANTA CONTENTS independent auaitors’ report to the directors on the abridged financial statements Independent special auditors’ report to be annexed to the annual return Statement of directors’ responsibilities for the shareholders’ financial statements Balance sheet Notes to the abridged financial statements PageTITHE SAOIRE CHLEIRE TEORANTA INDEPENDENT AUDITORS’ REPORT TO THE DIRECTORS PURSUANT TO SECTION 18(4) OF THE COMPANIES (AMENDMENT) ACT, 1986 ‘We have examined: (the abridged financial statements for the year ended 31 October 2001 on pages 4 to 8 which the aoe ag ithe Sacire Chielte Teoranta propose to annex to the annual return of the company: and {i)_ the financial statements to be laid before the Annual General Meeting, which form the basis for those abridged financial statements. Respective responsibilities of directors and auditors itis your responsibilty to prepare the abridged financial statements. It Is our responsibility to form an independent opinion on those abridged financial statements and to report our opinion 10 You. Basis of opinion ‘The scope of our work for the purpose of this report was limited to confirming thatthe eiveclors 2 entitled The scope oF gged financial statements to the annual return and that these abridged financial statements 1a teon properly prepared pursuant to Section 10 to 12 of the Companies (Amendment) ‘Act, 1986, from aay eersdrctatements to be taid before the annual general meeting. The scope of Our Work for the Fuapose ofthis report does not include examining or dealing with events after the date ‘of our report on the shareholder financial statements. Opinion In our opinion the directors are entitled under Section 18 of the Companies, (Amendment) Act, 1986 to a oer ophdged financial statements for the year ended 31 October 2001 to the annua} soln of the Company, and the abridged financial statements on pages 4 to 8 have been properly prepared pursuant to Sections 10 to 12 of that Act. 28 November 2002 Chartered Accountants 9/10 Rossa Street Registered Auditors Clonakilty Co. Cork.TITHE SAOIRE CHLEIRE TEORANTA INDEPENDENT AUDITORS' REPORT TO THE DIRECTORS PURSUANT TO SECTION 18(3) OF THE COMPANIES (AMENDMENT) ACT, 1986 ‘On 28 November 2002 we reported, as auditors of Tithe Sacire Chieire Teoranta, to the directors of the ‘company on the copy of the abridged financial statements for the year ended 21 October 2001 on pages 4 to 8 and our report was as follows: “We have examined: (0 the abridged financial statements forthe year ended 91 October 2001 on pages 4 to 8 which the dvctrs of Tie Saoke Cheire Tescanta propose to annex othe anrwval retum ofthe company; and (i) the financial statements to be laid before the Annual General Meating, which form the basis fr those abxidgod financial statements. Respective responsibilities of directors and auditors itis your responsibilty lo prepare the abridged financial statements, I is ou responsibity to form an independent opinion on thoee abridged financial statements and to report our opinion to you. Basis of opinion “The scope of cur work for the purpose of this report was lnited to confiming that the directors are ertied to annex abridged Tee a siatements to the annwal felurn and that those abridged financial statements have been properly prepared pursuant to Belen 10 to 12 of the Companies (Amendment) Act, 1986, from the financial statements to be lad before the annual genera tmotrgy. Te scope of our work forthe purpose ofthis report does not include examining or dealing wth evens ater the dat of ‘ou repot on the shareholder financial statements. Opinion In our opinion the directors are enttted under Section 18 of the Companies (Amendment) Act, 1986 to annex abridged financial Rtetents for the year ended 31 October 2001 to the annual cetum of the company, and the abridged financial statements on pages 4 (8 have been propery prepared pursuant o Sections 10 012 ofthat Act.” Other information ‘On 28 November 2002 we reported, as auditors of Tithe Saoire Chleire Teoranta, to the members on the company's financial statements for the year ended 31 October 2001 to be laid before its annual general meeting, and our report was as follows: We have audited the financial statements of Tithe Sacite Chisre Teoranta on pages § to 10 for the year ended 31 October 2001 ‘These Fanci statements have been prepared under the historical cost convertion and the accounting pelcies set out herein. Respective responsibilities ofthe directors and auditors ‘As described in the statement of cirectors!responsioltes on page 2 the companys directors are responsibe fr the preparaion Of the franca stalements in accordance with applicable law and insh Accounting Standards Our responsi i fo aust the nancial statements in accordance with relevant legal and reguatery requirements ane Auditing ‘Standards promulgate by the Auditing Practices Boerdin Ireland and the United Kingdom. We report to you our opinion as to whether the financial statements give a tue and fair view and are propery prepared in eocdance withthe Companies Acts, We also report to you whether in our opinion: proper books of account have been kept by the company: whether, atthe belance sheet date thre exists a financial situation requiring the convening of an extraorainery general mestng of te company. and Whether the information given in the directors report is consistent vith the financial Seheraonts. In action, we state whsther we have obtained all the information and explanations necessary for the purposes of Sur auch and whether the company's balance sheet and te profi and loss account are in agreement wth the books of account We report to shareholders if, in our opinion, any information spectied by law regarding the directors! remuneration and ‘rancactone fs not given and, where practicable, Include such information in ur report We read the directors’ ceport and consider the implicaions for our report f we become aware of any apparont misstatements withinTITHE SAOIRE CHLEIRE TEORANTA INDEPENDENT AUDITORS’ REPORT TO THE DIRECTORS (CONTINUED) PURSUANT TO SECTION 18(3) OF THE COMPANIES (AMENDMENT) ACT, 1986 Basis of audit opinion We conducted ou audit in accordance wih Auding Standard issued bythe Ausng Practices Board, excep that the scope of ‘our work was limited as explained below. ‘Anaudt includes examination, on 2 test base, of evidence relevant tothe amounts and cEsclosures inthe fanciletstrnonts, A a Ea oe amento he gniteant estimates and judgements made by the decor in the reparation ofthe nance} also inchs oe anetner te aecourting polcies are appropiate tothe company’s cumstances, censstmy anpted ant adequally disclosed Wie panned and pert our au 028 to aban al the informaton and explanations which we considered nocessay Ot rere Sian cutie! evdence to ge reasonable assurance tat the financial lalements ao free fom Tela {0 ove As ther caused by fraud or other irequart of efor, However, the evidence avaiable fo us was ied because & ra ent Yecard ao et maitained and thee was no system of contol on which we could rly forthe purpose of pu aus Ecept for any adjustments that might have beon necessary had we bean able to obtain suient evidence conesring ft Faeer enous opinion fe nancial statoments give a tre and fat vew of the sat ofthe company fas a8 31 Octet re pot forthe earthen ended and nave been properly prepared in accordance wth the Companies Acts 1963 (0 200% xcept forthe maters referred to above, we have oblaned all the information and explanations we consi necessary fo he Feces of ur aust In our opinion, proper books of acoount have been kept by the company. The finance! sstents are Egreement with the books of accourt ‘nour opinion, the information give in the directors report on pages 1 to 2s consiten wth the ancl statements “The net assets ofthe company, as stated in the balance sheet on page 6, are more than haf ofthe amourt ois caled up one “esa und i cur open, on tat bass there di ot ent a 31 October 2001 a fnancalstuatin which, yrds seston 70) of Herre aParies (umendmen) Act 1983, would require the cervening ofan extraordinary general meeting ftho-eeu pany” jothy Cot 28 November 2002 Chartered Accountants 9/10 Rossa Street Registered Auditors. Clonakilty Co. Cork “This is to certify that this is a true copy of the auditors’ report in respect of Tithe Saoire Chleire Teoranta, ciaran oriscot Cec obais oll. ctor Date: 28 November 2002 E8G4 opriscall Nave 0 Oso Secretary Date: 28 November 2002