Page 17 - Pillar 3 Disclosure
P. 17


2013




Notes to the Summary fullest extent permitted by law, we do not accept or 

Financial Statement
assume responsibility to anyone other than the Society 

and the Society’s members as a body and the Society’s 
For the year ended 30 November 2013
depositors as a body, for our work, for this statement, or 

1. The gross capital ratio measures the proportion that for the opinions we have formed.

the Society’s capital bears to the Society’s shares and 
borrowings. Capital consists of the Society’s general Respective responsibilities

reserves which are the profits of the Society accumulated of Directors and Auditor

over the last 164 years, together with an amount of The Directors are responsible for preparing the Summary 

capital raised in the form of allowable subordinated Financial Statement within the Review of the Year in 
debt. Society capital provides a financial buffer.
accordance with applicable United Kingdom law.


2. The liquid assets ratio measures the proportion 
Our responsibility is to report to you our opinion on the 
that the Society’s assets held in the form of cash, short consistency of the Summary Financial Statement within 

term deposits and Government securities bears to
the Review of the Year with the full Annual Accounts, 

the Society’s shares and borrowings. As liquid assets Annual Business Statement and Directors’ Report and 
are by their nature readily realisable, this assists the its conformity with the relevant requirements of section 

Society in its cash management and enables the 76 of the Building Societies Act 1986 and regulations 

Society to meet requests by investors for withdrawals made under it. We also read the other information 
from their accounts, to make new mortgage loans to 
contained in the Review of the Year and consider the 
borrowers and to fund its general business activities.
implications for our report if we become aware of any 

apparent misstatements or material inconsistencies with 
3. The ratio of profit for the year as a percentage
the Summary Financial Statement.
of mean total assets measures the proportion that

the profit after taxation for the year bears to the Basis of opinion
average balance of the total assets during the year. A 
We conducted our work in accordance with Bulletin 
reasonable level of profit must be generated each year 2008/3 The auditor’s statement on the Summary 

by the Society to maintain its capital ratios thereby Financial Statement in the United Kingdom issued by the 

protecting investors’ funds.
Auditing Practices Board. Our report on the Society’s full 
Annual Accounts describes the basis of our opinions on 

4. The ratio of management expenses as a percentage those Annual Accounts, the Annual Business Statement 
of mean total assets measures the proportion that 
and Directors’ Report.
administrative expenses as reported in this document 

(which include depreciation and amortisation) bear to Opinion on Summary Financial Statement

the mean of total assets.
In our opinion the Summary Financial Statement is 
consistent with the full Annual Accounts, the Annual 

Independent Auditor’s Statement
Business Statement and Directors’ Report of Ipswich 

to the members and depositors of Building Society for the year ended 30 November 

Ipswich Building Society
2013 and conforms with the applicable requirements 
of section 76 of the Building Societies Act 1986 and 
We have examined the Summary Financial Statement 
regulations made under it.
of Ipswich Building Society for the year ended 30 

November 2013 set out on pages 14 to 17.
Mark Taylor

For and on behalf of KPMG Audit Plc, 
This auditor’s statement is made solely to the Society’s 
Statutory Auditor
members, as a body, and to the Society’s depositors, as 
a body, in accordance with section 76 of the Building 
Chartered Accountants 
Societies Act 1986. Our work has been undertaken
6 Lower Brook Street 

so that we might state to the Society’s members and Ipswich
depositors those matters we are required to state to them 
29 January 2014
in such a statement and for no other purpose. To the



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