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Annual Report 2013 LifeBrandz Ltd
Independent Auditor’s Report
For the fnancial year ended 31 July 2013
To the Members of LifeBrandz Ltd
Report on the fnancial statements
We have audited the accompanying fnancial statements of LifeBrandz Ltd (the “Company”) and its subsidiaries (collectively
the “Group”) set out on pages 33 to 66, which comprise the statements of fnancial position of the Group and the Company
as at 31 July 2013, the statements of changes in equity of the Group and the Company and the consolidated statement of
comprehensive income and consolidated statement of cash fow of the Group for the year then ended, and a summary of
signifcant accounting policies and other explanatory information.
Management’s responsibility for the fnancial statements
Management is responsible for the preparation of fnancial statements that give a true and fair view in accordance with the
provisions of the Singapore Companies Act, Chapter 50 (the “Act”) and Singapore Financial Reporting Standards, and for
devising and maintaining a system of internal accounting controls suffcient to provide a reasonable assurance that assets
are safeguarded against loss from unauthorised use or disposition; and transactions are properly authorised and that they
are recorded as necessary to permit the preparation of true and fair statement of comprehensive income and statements of
fnancial position and to maintain accountability of assets.
Auditor’s responsibility
Our responsibility is to express an opinion on these fnancial statements based on our audit. We conducted our audit in
accordance with Singapore Standards on Auditing. Those standards require that we comply with ethical requirements and
plan and perform the audit to obtain reasonable assurance about whether the fnancial statements are free from material
misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the fnancial statements.
The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement
of the fnancial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal
control relevant to the entity’s preparation of the fnancial statements that give a true and fair view 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 entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the
reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the fnancial
statements.
We believe that the audit evidence we have obtained is suffcient and appropriate to provide a basis for our audit opinion.
Opinion
In our opinion, the consolidated fnancial statements of the Group and the statement of fnancial position and statement of
changes in equity of the Company are properly drawn up in accordance with the provisions of the Act and Singapore Financial
Reporting Standards so as to give a true and fair view of the state of affairs of the Group and of the Company as at 31 July 2013
and the results, changes in equity and cash fows of the Group and the changes in equity of the Company for the year ended
on that date.
Report on other legal and regulatory requirements
In our opinion, the accounting and other records required by the Act to be kept by the Company and by those subsidiaries
incorporated in Singapore of which we are the auditors have been properly kept in accordance with the provisions of the Act.
Ernst & Young LLP
Public Accountants and Chartered Accountants
Singapore
29 October 2013