Horse Sport Ireland Page 55

HORSE SPORT IRELAND

Financial Ov

erview

Extract from the 2012 audited financial statements

OPINION

In our opinion the financial statements:

give a true and fair view, in accordance with Generally Accepted Accounting Practice in Ireland, of the

state of the company's affairs as at 31st December 2012 and of its surplus and cash flows for the year then

ended; and

have been properly prepared in accordance with the requirements of the Companies Acts, 1963 to 2012.

We have obtained all the information and explanations we consider necessary for the purposes of our audit. In

our opinion, proper books of account have been kept by the company. The financial statements are in agreement

with the books of account.

In our opinion the information given in the Directors' Report on pages 2 4 is consistent with the financial

statements.

For and on behalf of

GRANT THORNTON

24 - 26 City Quay

Chartered Accountants

Dublin 2

& Registered Auditor

15th May 2013

Extract from the 2012 audited financial statements

OPINION

In our opinion the financial statements:

give a true and fair view, in accordance with Generally Accepted Accounting Practice in Ireland, of the

state of the company's affairs as at 31st December 2012 and of its surplus and cash flows for the year then

ended; and

have been properly prepared in accordance with the requirements of the Companies Acts, 1963 to 2012.

We have obtained all the information and explanations we consider necessary for the purposes of our audit. In

our opinion, proper books of account have been kept by the company. The financial statements are in agreement

with the books of account.

In our opinion the information given in the Directors' Report on pages 2 4 is consistent with the financial

statements.

For and on behalf of

GRANT THORNTON

24 - 26 City Quay

Chartered Accountants

Dublin 2

& Registered Auditor

15th May 2013

Extract from the 2012 audited financial statements

OPINION

In our opinion the financial statements:

give a true and fair view, in accordance with Generally Accepted Accounting Practice in Ireland, of the

state of the company's affairs as at 31st December 2012 and of its surplus and cash flows for the year then

ended; and

have been properly prepared in accordance with the requirements of the Companies Acts, 1963 to 2012.

We have obtained all the information and explanations we consider necessary for the purposes of our audit. In

our opinion, proper books of account have been kept by the company. The financial statements are in agreement

with the books of account.

In our opinion the information given in the Directors' Report on pages 2 4 is consistent with the financial

statements.

For and on behalf of

GRANT THORNTON

24 - 26 City Quay

Chartered Accountants

Dublin 2

& Registered Auditor

15th May 2013

Extract from the 2012 audited financial statements

We have audited the financial statements of Horse Sport Ireland for the year ended 31st December 2012 which

comprise the Income and Expenditure Account, Balance Sheet, Cash Flow Statement and the related notes.

These financial statements have been prepared on the basis of the accounting policies set out therein.

RESPECTIVE RESPONSIBILITIES OF DIRECTORS AND AUDITOR

As described in the Statement of Directors' Responsibilities on pages 2 - 4, the company's directors are

responsible for the preparation of the financial statements in accordance with applicable law and Generally

Accepted Accounting Practice in Ireland including the accounting standards issued by the Accounting Standards

Board and published by the Institute of Chartered Accountants in Ireland.

Our responsibility is to audit the financial statements in accordance with relevant legal and regulatory

requirements and International Standards on Auditing (UK and Ireland).

This report is made solely to the company's members, as a body, in accordance with Section 193 of the

Companies Act, 1990. Our audit work has been undertaken so that we might state to the company's members

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 company and the

company's members as a body, for our audit work, for this report, or for the opinions we have formed.

We report to you our opinion as to whether the financial statements give a true and fair view, in accordance with

Generally Accepted Accounting Practice in Ireland, and are properly prepared in accordance with the Companies

Acts, 1963 to 2012. We also report to you whether in our opinion: proper books of account have been kept by

the company; whether, at the balance sheet date, there exists a financial situation requiring the convening of an

extraordinary general meeting of the company; and whether the information given in the directors' report is

consistent with the financial statements. In addition, we state whether we have obtained all the information and

explanations necessary for the purposes of our audit and whether the financial statements are in agreement with

the books of account.

We also report to you if, in our opinion, any information specified by law regarding directors' remuneration and

directors' transactions is not disclosed and, where practicable, include such information in our report.

We read the Directors' Report and consider the implications for our report if we become aware of any apparent

misstatement within it.

BASIS OF AUDIT OPINION

We conducted our audit in accordance with International Standards 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 directors in the preparation of the financial statements, and of whether the accounting

policies are appropriate to the company'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.