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Extract from 2017 a/cs 2. Accounting Policies The principal accounting policies applied in the preparation of the consolidated financial information are set out below. These policies have been consistently applied to all periods presented, unless otherwise stated. Basis of preparation The Consolidated Financial Statements for the 52 weeks ended 30 April 2017 have been prepared in accordance with International Financial Reporting Standards as adopted by the European Union ("IFRS") and with those parts of the Companies Act 2006 applicable to companies reporting under IFRS. The consolidated financial information has been prepared on a going concern basis and under the historical cost convention. The Directors have prepared cash flow forecasts for the period until April 2019. Based on these, the Directors confirm that there are sufficient cash reserves and available working capital facilities to fund the business for the period under review, and believe that the Group is well placed to manage its business risk successfully. The Group is forecasted to be cash generative going forward. For this reason they continue to adopt the going concern basis in preparing the financial statements. INDEPENDENT REVIEW REPORT TO CONVIVIALITY PLC Conclusion We have been engaged by the company to review the condensed set of financial statements in the half-yearly report for the 26 weeks ended 29 October 2017 which comprises the consolidated income statement, consolidated statement of financial position, consolidated statement of changes in equity, consolidated statement of cash flows and the related explanatory notes. Based on our review, nothing has come to our attention that causes us to believe that the condensed set of financial statements in the half-yearly report for the 26 weeks ended 29 October 2017 is not prepared, in all material respects, in accordance with IAS 34 Interim Financial Reporting as adopted by the EU and the AIM Rules. Scope of review We conducted our review in accordance with International Standard on Review Engagements (UK and Ireland) 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity issued by the Auditing Practices Board for use in the UK. A review of interim financial information consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. We read the other information contained in the half-yearly report and consider whether it contains any apparent misstatements or material inconsistencies with the information in the condensed set of financial statements. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing (UK) and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express a