Report on the financial statements
We have audited the accompanying financial statements of Kingsmen Creatives Ltd. (the “Company”) and its subsidiaries
(collectively, the “Group”), which comprise the consolidated statement of financial position of the Group and the statement of
financial position of the Company as at 31 December 2015, the consolidated statement of profit or loss and other comprehensive
income, statement of changes in equity and statement of cash flows of the Group, and statement of changes in equity of the
Company for the reporting year then ended, and a summary of significant accounting policies and other explanatory information.
Management’s responsibility for the financial statements
Management is responsible for the preparation of financial 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 sufficient 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 financial statements and to maintain accountability of assets.
Auditor’s responsibility
Our responsibility is to express an opinion on these financial 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 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 entity’s preparation of financial 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 financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Opinion
In our opinion, the consolidated financial statements of the Group and the statement of financial 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 financial position of the Group and of the Company as at
31 December 2015, and the financial performance, changes in equity and cash flows of the Group and the changes in equity
of the Company for the reporting 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.
RSM Chio Lim LLP
Public Accountants and
Chartered Accountants
Singapore
22 March 2016
Partner in charge of audit: Eu Chee Wei David
Effective from reporting year ended 31 December 2014
independent
auditor’s report
to the Members of Kingsmen Creatives Ltd.
(Registration No: 200210790Z)
• e x p e r i e n c i n g
k i n g s m e n
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