Directors Report 1

DIRECTORS' REPORT
The Directors present their annual report together with the unaudited financial statements of the Company for the year ended 31 December 2018.
The Directors' Report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
PRINCIPAL ACTIVITIES, BUSINESS REVIEW AND FUTURE DEVELOPMENTS
The Company is a wholly owned subsidiary of Kerry Group plc and operates as part of the Group's Foods division.
As shown in the Company's Statement of Comprehensive Income on page 5, the Company's result for the financial year was Enil (2017: Enil). The Balance Sheet on page 6 of the financial statements shows the Company's financial position at the year end.
The Company did not trade during the year and as a result, is not exposed to any commercial, financial or human resources risks or uncertainties.
The Directors have no current plans for the Company to recommence trading activities.
DIVIDENDS
The Directors do not recommend the payment of a dividend (2017: Enil).
DIRECTORS
The Directors, who served throughout the financial year, were as follows:
Marguerite Larkin (appointed 30/09/2018) Brian Mehigan (resigned 30/09/2018) Ronan Deasy Trevor Horan
DIRECTORS' RESPONSIBILITY STATEMENT
The Directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the Directors to prepare financial statements for each year. Under that law the Directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including FRS 101 Reduced Disclosure Framework. Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the company for that period. In preparing these financial statements, the Directors are required to:
?select suitable accounting policies and then apply them consistently;
?make judgments and accounting estimates that are reasonable and prudent;
?state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
?prepare the financial statements on the going concern basis of accounting unless it is inappropriate to presume that the Company will continue in business.
3.0
KERRY LIMITED
DIRECTORS' REPORT (continued)
DIRECTORS' RESPONSIBILITY STATEMENT (continued)
The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Directors are responsible for the maintenance and integrity of the corporate and financial information included on the Company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
GOING CONCERN
The Directors have satisfied themselves that the Company is a going concern, having adequate resources to continue in operational existence for the foreseeable future. In forming this view, the Directors made enquiries into the financial position and resources available to the Company including those provided by other group companies, including a review of the budget for at least a period of 12 months from the date of approval of the financial statements. For this reason, the Directors continue to adopt the going concern basis of accounting in preparing the financial statements.
IMPACT OF BREXIT
The UK's scheduled exit from the EU in 2019 has the potential to significantly change the terms of trade which currently exist between the EU and the UK. The Company continues to monitor the ongoing political situation and whilst the outcome is difficult to predict, it has considered the potential impacts across a number of scenarios. In a worst case scenario, the risks are manageable in the medium-term.
EVENTS AFTER THE BALANCE SHEET DATE
There have been no significant events, outside the ordinary course of business, affecting the Company since 31 December 2018.

Signed on behalf of the Boardt

Rciri h Deasy, Director

Date: It:kip-4-12_0

4.0 KERRY LIMITED
FINANCIAL STATEMENTS

Directors Report 2

DIRECTORS' REPORT
The Directors present their annual report together with the unaudited financial statements of the Company for the year ended 31 December 2017.
The Directors' Report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
PRINCIPAL ACTIVITIES, BUSINESS REVIEW AND FUTURE DEVELOPMENTS
The Company has been dormant as defined in section 1169 of the Companies Act 2006 throughout the current year and preceding financial year. Key performance indicators are not considered necessary for an understanding of the development, performance or position of the business of the Company. There are no risks or uncertainties facing the Company including those within the context of the use of financial
It is anticipated that the Company will remain dormant for the foreseeable future.
DIVIDENDS
The Directors do not recommend the payment of a dividend (2016: Enil).
DIRECTORS
The Directors, who served throughout the financial year, were as follows:
Brian Mehigan Ronan Deasy (appointed 31/10/2017) Trevor Horan (appointed 31/10/2017) Brian Durran (resigned 31/10/2017)
DIRECTORS' RESPONSIBILITY STATEMENT
The Directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the Directors to prepare financial statements for each year. Under that law the Directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including FRS 101 Reduced Disclosure Framework. Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the company for that period. In preparing these financial statements, the Directors are required to:
?select suitable accounting policies and then apply them consistently;
?make judgments and accounting estimates that are reasonable and prudent;
?state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
?prepare the financial statements on the going concern basis of accounting unless it is inappropriate to presume that the Company will continue in business.
The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 3.0

? KERRY LIMITED
DIRECTORS' REPORT (continued)
DIRECTORS' RESPONSIBILITY STATEMENT (continued)
The Directors are responsible for the maintenance and integrity of the corporate and financial information included on the Company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
GOING CONCERN
The Directors have satisfied themselves that the Company is a going concern, having adequate resources to continue in operational existence for the foreseeable future. In forming this view, the Directors made enquiries into the financial position and resources available to the Company including those provided by other group companies, including a review of the budget for at least a period of 12 months from the date of approval of the financial statements. For this reason, the Directors continue to adopt the going concern basis of accounting in preparing the financial statements.
EVENTS AFTER THE BALANCE SHEET DATE
There have been no significant events, outside the ordinary course of business, affecting the Company since 31 December 2017.
Signed on behalf of the Board: Date:

Ronan Deasy, Director

?

KERRY LIMITED
FINANCIAL STATEMENTS

Directors Report 3

DIRECTORS' REPORT
The directors present their annual report together with the unaudited financial statements of the company for the year ended 31 December 2016.
The directors' report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
PRINCIPAL ACTIVITIES AND BUSINESS REVIEW
The company has been dormant as defined in section 1169 of the Companies Act 2006 throughout the year and preceding financial period. It is anticipated that the company will remain dormant for the foreseeable future. Key performance indicators are not considered necessary for an understanding of the development, performance or position of the business of the company. There are no risks or uncertainties facing the company including those within the context of the Use of financial instruments.
RESULTS, DIVIDENDS AND FUTURE PROSPECTS
The directors do not recommend the payment of a dividend (2015: &A). It is anticipated that the company will remain dormant for the foreseeable future.
DIRECTORS
The present membership of the Board is set out on page 2 of these financial statements. There was no changes in directors or secretary during the year or since the year end.
DIRECTORS' RESPONSIBILITIES STATEMENT
The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including FRS 101 Reduced Disclosure Framework. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the. state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
?select suitable accounting policies and then apply them consistently;
?make judgments and accounting estimates that are reasonable and prudent;
?state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
?prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping proper accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
3.0
KERRY LIMITED
DIRECTORS' REPORT (continued)
GOING CONCERN

The directors have satisfied themselves that the company is a going concern, having adequate resources to continue in operational existence for the foreseeable future despite the continuing difficult economic conditions. In forming this view, the directors made enquiries into the financial position and resources available to the company including those provided by other group companies, including a review of the budget for at least a period of twelve months from the date of approval of the financial statements. For this reason, the directors continue to adopt the going concern basis in preparing the financial statements.

The financial statements were approved by the Board and signed on its behalf by:

"A.Brian Me-higan, Dir ctor (Ir?N'

Date:

4.0 KERRY LIMITED

Directors Report 4

DIRECTORS' REPORT
The directors present their annual report on the affairs of the company, together with the unaudited financial statements of the company for the year ended 31 December 2015.
The directors' report has been prepared in accordance with the provisions applicable to companies entitled to the small companies' exemption.
PRINCIPAL ACTIVITIES AND BUSINESS REVIEW The company has been dormant as defined in section 1169 of the Companies Act 2006 throughout the year and preceding financial period. It is anticipated that the company will remain dormant for the foreseeable future. Key performance indicators are not considered necessary for an understanding of the development, performance or position of the business of the company. There are no risks or uncertainties facing the company including those within the context of the use of financial instruments.
RESULTS, DIVIDENDS AND FUTURE PROSPECTS The directors do not recommend the payment of a dividend (2014: Enil). It is anticipated that the company will remain dormant for the foreseeable future.
DIRECTORS The present membership of the Board is set out on page 2 of these financial statements. There was no change in directors or secretary during the year or since the year end.
DIRECTORS RESPONSIBILITY STATEMENT The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including FRS 101 Reduced Disclosure Framework. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
?select suitable accounting policies and then apply them consistently;
?make judgments and estimates that are reasonable and prudent;
?state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
?prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping proper accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

3.0 KERRY LIMITED
DIRECTORS' REPORT (continued)
GOING CONCERN The directors have satisfied themselves that the company is a going concern, having adequate resources to continue in operational existence for the foreseeable future despite the continuing difficult economic conditions. In forming this view, the directors made enquiries into the financial position and resources available to the company including those provided by other group companies, including a review of the budget for at least a period of twelve months from the date of approval of the financial statements. For this reason, the directors continue to adopt the going concern basis in preparing the financial statements.

The financial statements were approved by the Board of Directors and signed on its behalf:

Brian Durran, Director

Date: il--crIS-1 6

4.0 KERRY LIMITED

Directors Report 5

DIRECTORS' REPORT

The directors present their annual report on the affairs of the company, together with the unaudited financial statements, for the year ended 31 December 2014.
The Directors' Report has been prepared in accordance with the provisions applicable to companies entitled to the small companies' exemption.
PRINCIPAL ACTIVITIES AND BUSINESS REVIEW
The company has been dormant as defined in section 1169 of the Companies Act 2006 [section 249AA of the Companies Act 1985] throughout the year and preceding financial period. It is anticipated that the company will remain dormant for the foreseeable future. Key performance indicators are not considered necessary for an understanding of the development, performance or position of the business of the company. There are no risks or uncertainties facing the company including those within the context of the use of financial instruments.

DIRECTORS
The present membership of the Board is set out on page 2. There were no changes in directors or secretary during the year.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
?select suitable accounting policies and then apply them consistently;
?make judgments and estimates that are reasonable and prudent;
?state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
?prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

3.0 KERRY LIMITED
DIRECTORS' REPORT (CONTINUED)

GOING CONCERN
The Directors have satisfied themselves that the Company is a going concern, having adequate resources to continue in operational existence for the foreseeable future despite the continuing difficult economic conditions. In forming this view, the Directors made enquiries into the financial position and resources available to the company including those provided by other group companies, including a review of the budget for at least twelve months from the approval of the financial statements. For this reason, the directors continue to adopt the going concern basis in preparing the financial statements.

Approved by the Board of Directors and signed on its behalf by:

Brian Durran, Director
Date: RI ibrilleic

4.0 KERRY LIMITED
STATEMENT OF ACCOUNTING POLICIES

The significant accounting policies adopted by the company are as follows:

BASIS OF PREPARATION
The financial statements have been prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards. Accounting standards generally accepted in the United Kingdom in preparing financial statements giving a true and fair view are those published by the Institute of Chartered Accountants in England and Wales and issued by the Accounting Standards Board.
The accounts have been prepared under a going concern basis. This is discussed in the Director's Report on page 4, under the heading 'Going Concern'.

REPORTING CURRENCY
The amounts shown are stated in Sterling, the currency of the primary economic environment in which the company operates (its "functional currency").

Directors Report 6

DIRECTORS' REPORT

The directors present their annual report on the affairs of the company, together with the unaudited financial statements, for the year ended 31 December 2013.

PRINCIPAL ACTIVITIES AND BUSINESS REVIEW
The company has been dormant as defined in section 1169 of the Companies Act 2006 [section 249AA of the Companies Act 1985] throughout the year and preceding financial period. It is anticipated that the company will remain dormant for the foreseeable future. Key performance indicators are not considered necessary for an understanding of the development, performance or position of the business of the company. There are no risks or uncertainties facing the company including those within the context of the use of financial instruments.

DIRECTORS
The present membership of the Board is set out on page 2. There were no changes in directors or secretary during the year.

DIRECTORS' INTERESTS
The interests of the directors of the company and their spouses and minor children in the issued share capital at 1 January 2013 and 31 December 2013 were as follows:

DIRECTORS NUMBER OF "A" ORDINARY SHARES
31 December 2013 1 January 2013 Brian Durran 1 1

There has not been any contract or arrangement with the company during the year in which a director of the company was materially interested and which was significant in relation to the company's business.

GOING CONCERN
The Directors have satisfied themselves that the Company is a going concern, having adequate resources to continue in operational existence for the foreseeable future despite the continuing difficult economic conditions. In forming this view, the Directors made enquiries into the financial position and resources available to the company including those provided by other group companies, including a review of the budget for at least twelve months from the approval of the financial statements. For this reason, the directors continue to adopt the going concern basis in preparing the financial statements.

3.0 KERRY LIMITED
DIRECTORS' REPORT (CONTINUED)

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
?select suitable accounting policies and then apply them consistently; ?make judgments and accounting estimates that are reasonable and prudent; ?state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and ?prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the Board of Directors and signed on its behalf by:

Brian Durran, Director

Date: *ks-- 9_ Dcm4,

4.0
KERRY LIMITED
STATEMENT OF ACCOUNTING POLICIES

The significant accounting policies adopted by the company are as follows:

BASIS OF PREPARATION
The financial statements have been prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards. Accounting standards generally accepted in the United Kingdom in preparing financial statements giving a true and fair view are those published by the Institute of Chartered Accountants in England and Wales and issued by the Accounting Standards Board. The accounts have been prepared under a going concern basis. This is discussed in the Director's Report on page 3, under the heading 'Going Concern'.

REPORTING CURRENCY
The amounts shown are stated in Sterling, the currency of the primary economic environment in which the company operates (its "functional currency").

Directors Report 7

DIRECTORS' REPORT
The directors present their annual report on the affairs of the company, together with the unaudited

PRINCIPAL ACTIVITIES AND BUSINESS REVIEW
The company has been dormant as defined in section 1169 of the Companies Act 2006 [section 249AA
the company will remain dormant for the foreseeable future Key performance indicators are not considered necessary for an understanding of the development, performance or position of the business of the company There are no risks or uncertainties facing the company including those within the context of the use of financial instruments

DIRECTORS
The present membership of the Board is set out on page 2 There were no changes in directors or

DIRECTORS INTERESTS
The interests of the directors of the company and their spouses and minor children in the issued share

DIRECTORS NUMBER OF "A" ORDINARY SHARES
31 December 2012 1 January 2012 Bnan Durran 1 1

There has not been any contract or arrangement with the company dunng the year in which a director
business

GOING CONCERN
The Directors have satisfied themselves that the Company is a going concern, having adequate
economic conditions In forming this view, the Directors made enquiries into the financial position and resources available to the company including those provided by other group companies, including a review of the budget for 2013 For this reason, the directors continue to adopt the going concern basis in preparing the financial statements

3.0 KERRY LIMITED
DIRECTORS' REPORT (CONTINUED)

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for prepanng the Annual Report and the financial statements in

Company law requires the directors to prepare financial statements for each financial year Under that
Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that penod In prepanng these financial statements, the directors are required to
?select suitable accounting policies and then apply them consistently, ?make judgments and accounting estimates that are reasonable and prudent, ?state whether applicable UK Accounting Standards have been followed, subject to any
?prepare the financial statements on the going concern basis unless it is mappropnate to

The directors are responsible for keeping adequate accounting records that are sufficient to show and
position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006 They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregulanties
The directors are responsible for the maintenance and integrity of the corporate and financial
preparation and dissemination of financial statements may differ from legislation in other jurisdictions

Approved by the Board of Directors and signed on its behalf by

Bnan Durran, Director

Date 01 /Ogatik3

4.0 KERRY LIMITED
STATEMENT OF ACCOUNTING POLICIES

The sigmficant accounting policies adopted by the company are as follows

BASIS OF PREPARATION
The financial statements have been prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards Accounting standards generally accepted in the United Kingdom in prepanng financial statements giving a true and fair view are those published by the Institute of Chartered Accountants in England and Wales and issued by the Accounting Standards Board The accounts have been prepared under a going concern basis. This is discussed in the Director's Report on page 3, under the heading 'Going Concern'

REPORTING CURRENCY
The amounts shown are stated in Sterling, the currency of the primary economic environment in which the company operates (its "functional currency")

Directors Report 8

DIRECTORS' REPORT
The directors present their annual report on the affairs of the company, together with the unaudited financial statements, for the year ended 31 December 2011
PRINCIPAL ACTIVITIES AND BUSINESS REVIEW
The company has been dormant as defined in section 1169 of the Companies Act 2006 [section 249AA of the Companies Act 1985] throughout the year and preceding financial period It is anticipated that the company will remain dormant for the foreseeable future Key performance indicators are not considered necessary for an understanding of the development, performance or position of the business of the company Them are no risks or uncertatnues facing the company including those within the context of the use of financial instruments
DIRECTORS
The present membership of the Board is set out on page 2 There were no changes in directors or secretary during the year
DIRECTORS INTERESTS
The interests of the directors of the company and their spouses and minor children in the issued share capital at 1 January 2011 and 31 December 2011 were as follows

DIRECTORS NUMBER OF "A" ORDINARY SHARES
31 December 2011 1 January 2011 Brian Durran
There has not been any contract or arrangement with the company during the year in which a director of the company was materially interested and which was significant in relation to the company's business
GOING CONCERN
The Directors have satisfied themselves that the Company is a going concern, having adequate resources to continue in operational existence for the foreseeable future despite the continuing difficult economic conditions In forming this view, the Directors made enquiries into the financial position and resources available to the company including those provided by othcr group companies, including a review of the budget for 2012 For this reason, the directors continue to adopt the going concern basis in preparing the financial statements
KERRY LIMITED
DIRECTORS' REPORT (CONTINUED)
STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations
Company law requires the directors to prepare financial statements for each financial year Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period In preparing these financial statements, the directors are required to
?select suitable accounting policies and then apply them consistently, ?make judgments and accounting estimates that are reasonable and prudent, ?state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements, and ?prepare the financial statements on the going concern basis unless it Is inappropriate to presume that the company will continue in business
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006 They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions

Approved by the Board of Directors and signed on its behalf by

Brtan Durran, Director

Date 14 4:4202

4.0 KERRY LIMITED
STATEMENT OF ACCOUNTING POLICIES
The significant accounting policies adopted by the company are as follows
BASIS OF PREPARATION
The financial statements have been prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards Accounting standards generally accepted in the United Kingdom in preparing financial statements giving a true and fair view are those published by the Institute of Chartered Accountants in England and Wales and issued by the Accounting Standards Board The accounts have been prepared under a going concern basis This is discussed in the Director's Report on page 3, under the heading 'Going Concern'
REPORTING CURRENCY
The amounts shown are stated in Sterling, the currency of the pnmary economic environment in which the company operates (its "functional currency")

Directors Report 9

DIRECTORS' REPORT
The directors present their annual report on the affairs of the company, together with the unaudited financial statements, for the year ended 31 December 2010

1 PRINCIPAL ACTIVITIES AND BUSINESS REVIEW
The company has been dormant as defined m section 1169 of the Companies Act 2006 [section 249AA of the Companies Act 19851 throughout the year and preceding financial period It is anticipated that the company will remain dormant for the foreseeable future Key performance indicators are not considered necessary for an understanding of the development, performance or position of the business of the company There are no nsks or uncertainties facing the company including those within the context of the use of Financial instruments

2 DIRECTORS
The present membership of the Board is set out on page 2 There were no changes in directors or secretary during the year
3 DIRECTORS' INTERESTS
The interests of the directors of the company and their spouses and minor children in the issued share capital at 31 December 2010 and 1 January 2010 were as follows

DIRECTORS NUMBER OF "A" ORDINARY SHARES
31 December 2010 1 January 2010 Bnan Durran 1 1
There has not been any contract or arrangement with the company dunng the year in which a director of the company was matenally interested and which was significant in relation to the company's business

4 GOING CONCERN
The Directors have satisfied themselves that the Company is a going concern, having adequate resources to continue in operational existence for the foreseeable future despite the continuing difficult economic conditions In forming this view, the Directors made enquiries into the financial position and resources available to the company including those provided by other group companies, including a review of the budget for 2011 For this reason, the directors continue to adopt the going concern basis in preparing the financial statements

3.0 KERRY LIMITED
DIRECTORS' REPORT (CONTINUED)

5 STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations
Company law requires the directors to prepare financial statements for each financial year Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that penod In prepanng these financial statements, the directors are required to ?select suitable accounting policies and then apply them consistently, ?make judgments and accounting estimates that are reasonable and prudent, ?state whether applicable UK Accounting Standards have been followed, subject to any matenal departures disclosed and explained in the financial statements, and ?prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006 They are also responsible for safeguarding the assets of the company and hence for talung reasonable steps for the prevention and detection of fraud and other irregularities
The directors are responsible for the maintenance and mtegnty of the corporate and financial information included on the company's website Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions

Approved by the Board of Directors and signed on its behalf by

Brian Durran, Director

Date )3tostik

4.0

KERRY LIMITED
STATEMENT OF ACCOUNTING POLICIES
The significant accounting policies adopted by the company are as follows

BASIS OF PREPARATION
The financial statements have been prepared under the histoncal cost convention and in accordance with applicable United Kingdom accounting standards Accounting standards generally accepted in the United Kingdom in prepanng financial statements giving a true and fair view are those published by the Institute of Chartered Accountants in England and Wales and issued by the Accounting Standards Board The accounts have been prepared under a going concern basis This is discussed in the Director's Report on page 3, under the heading 'Going Concern'

REPORTING CURRENCY
The amounts shown are stated m Sterling, the currency of the pnmary economic environment in which the company operates (its "functional currency")

Directors Report 10

DIRECTORS' REPORT
The directors present their annual report on the affairs of the company, together with the unaudited financial statements, for the year ended 31 December 2009

1 PRINCIPAL ACTIVITIES AND BUSINESS REVIEW
The company has been dormant as defined in section 1169 of the Companies Act 2006 [section 249AA of the Companies Act 1985] throughout the year and preceding financial penod It is anticipated that the company will remain dormant for the foreseeable future Key performance indicators are not considered necessary for an understanding of the development, performance or position of the business of the company There are no nslcs or uncertainties facing the company including those within the context of the use of financial instruments

2 DIRECTORS
The present membership of the Board is set out on page 2 There were no changes in directors or secretary dunng the year

3 DIRECTORS' INTERESTS
The interests of the directors of the company and their spouses and minor children in the issued share capital at 31 December 2009 and 31 December 2008 were as follows

DIRECTORS NUMBER OF "A" ORDINARY SHARES
Padraic Coughlan I I
There has not been any contract or arrangement with the company during the year in which a director of the company was materially interested and which was significant in relation to the company's business

4 GOING CONCERN
The directors have satisfied themselves that the company is a going concern, having adequate resources to continue in operational existence for the foreseeable future despite the continuing difficult economic conditions In forming this view, the directors made enquiries into the financial position and resources available to the company including those provided by other group companies For this reason, the directors continue to adopt the going concern basis in preparing the financial statements

3.0 KERRY LIMITED
DIRECTORS' REPORT (CONTINUED)

5 STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations
Company law requires the directors to prepare financial statements for each financial year Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that penod In preparing these financial statements, the directors are required to ?select suitable accounting policies and then apply them consistently, ?make judgments and accounting estimates that are reasonable and prudent, ?state whether applicable UK Accounting Standards have been followed, and ?prepare the financial statements on the going concern basis unless it is Inappropriate to

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006 They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities
The directors are responsible for the maintenance and integnty of the corporate and financial information Included on the company's website Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other Junsclictions

Approved by the Board of Directors and signed on its behalf by

Bnan Dugan, Director

Date cpt fob/to

4.0 KERRY LIMITED
STATEMENT OF ACCOUNTING POLICIES

The significant accounting policies adopted by the company are as follows

BASIS OF PREPARATION
The financial statements have been prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards Accounting standards generally accepted in the United Kingdom in prepanng financial statements giving a true and fair view are those published by the Institute of Chartered Accountants in England and Wales and issued by the Accounting Standards Board The accounts have been prepared under a going concern basis This is discussed in the Directors' Report on page 3, under the heading 'Going Concern'

REPORTING CURRENCY
The amounts shown are stated in Sterling, the currency of the primary economic environment in which the company operates (its "functional currency")

Directors Report 11

DIRECTORS' REPORT
The directors submit their annual report together with the audited financial statements for the year ended 31 December 2008.
The directors report has been prepared in accordance with the special provision relating to small companies under section 246(4) of the Companies Act 1985.

1.PRINCIPAL ACTIVITIES AND BUSINESS REVIEW
The company did not trade during the current or preceding year and made neither profit nor loss nor any other recognised gains or losses. It is not expected that the company will trade in the foreseeable future.

2.DIRECTORS
The present membership of the Board is set out on page 2. There were no changes in directors or secretary during the year.

3.DIRECTORS' INTERESTS
The interests of the directors of the company and their spouses and minor children in the issued share capital at 31 December 2008 and 31 December 2007 were as follows:

DIRECTORS NUMBER OF "A" ORDINARY SHARES
Padraic Coughlan
There has not been any contract or arrangement with the company during the year in which a director of the company was materially interested and which was significant in relation to the company's business.

3.0 KERRY LIMITED
DIRECTORS' REPORT (CONTINUED)

4. STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
?select suitable accounting policies and then apply them consistently; ?make judgments and estimates that are reasonable and prudent; ?state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; ?prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 1985. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Board of Directors and signed on its behalf by:

B Durran, Director 4V an 72099 KERRY LIMITED
STATEMENT OF ACCOUNTING POLICIES
The significant accounting policies adopted by the company are as follows: BASIS OF PREPARATION
The financial statements have been prepared in accordance with applicable United Kingdom accounting standards. Accounting standards generally accepted in the United Kingdom in preparing financial statements giving a true and fair view are those published by the Institute of Chartered Accountants in England and Wales and issued by the Accounting Standards Board.

ACCOUNTING CONVENTION AND REPORTING CURRENCY
The financial statements are prepared under the historical cost convention. The amounts shown are stated in Sterling, the currency of the primary economic environment in which the company operates (its -functional currency").

Directors Report 12

DIRECTORS' REPORT
The directors submit their annual report together with the audited financial statements for the year ended 31 December 2007

1 PRINCIPAL ACTIVITIES AND BUSINESS REVIEW
The company dtd not trade during the current or preceding year and made neither profit nor loss nor any other recognised gains or losses It is not expected that the company will trade in the foreseeable future

2 DIRECTORS
The present membership of the Board is set out on page 2 There were no changes in directors or secretary during the year

3 DIRECTORS INTERESTS
The interests of the directors of the company and their spouses and minor children in the issued share capital at 31 December 2007 and 31 December 2006 were as follows
Sheet1 There has not been any contract or arrangement with the company during the year in which a director of the company was materially interested and which was significant in relation to the company's business

3.0

KERRY LIMITED
DIRECTORS' REPORT (CONTINUED)

4 STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations
Company law requires the directors to prepare financial statements for each financial year Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) The financial statements are required by law to give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period In preparing these financial statements, the directors are required to
?select suitable accounting policies and then apply them consistently, ?make judgments and estimates that are reasonable and prudent, ?state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements, ?prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business
The directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 1985 They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities

5 AUDITORS
Each of the persons who is a director at the date of approval of this report confirms that
?so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware, and
?the director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information
This confirmation is given and should be interpreted in accordance with the provisions of s234ZA of the Companies Act 1985
Deloitte & Touche have indicated their willingness to remain in office as the company's auditors and a resolution to reappoint them will be proposed at the forthcoming Annual General Meeting

A proved by the Board of Directors and signed on its behalf by

B Durran, Director

2008-05-01 00:00:00

4.0

KERRY LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KERRY LIMITED
We have audited the financial statements of Kerry Limited for the year ended 31 December 2007 which comprise the Statement of Accounting Policies, the Profit and Loss Account, the Balance Sheet and the related notes 1 to 3 These financial statements have been prepared under the accounting policies set out in the Statement of Accounting Policies
This report is made solely to the company's members, as a body, in accordance with Section 235 of the Companies Act, 1985 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 auditors' 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
Respective responsibilities of directors and auditors
The directors' responsibilities for preparing the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) are set out in the Statement of Directors' Responsibilities within the Directors' Report
Our responsibility is to audit the financial statements in accordance with relevant legal and regulatory requirements and International Standards on Auditing (UK and Ireland)
We report to you our opinion as to whether the financial statements give a true and fair view and are properly prepared an accordance with the Companies Act 1985 We also report to you whether in our opinion the information given in the Directors' Report is consistent with the financial statements
In addition we report to you if, in our opinion, the company has not kept proper accounting records, if we have not received all the information and explanations we require for our audit, or if information specified by law regarding directors remuneration and other transactions is not disclosed
We read the Directors' Report and consider the implications for our report if we become aware of any apparent misstatements 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 evaluated the overall adequacy of the presentation of information in the financial statements

5.0

KERRY LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KERRY LIMITED (CONTINUED)
Opinion
In our opinion ?the financial statements give a true and fair view, in accordance with United Kingdom
December 2007 and of its result for the year then ended, ?the financial statements have been properly prepared in accordance with the Companies Act
?the information given in the Directors Report is consistent with the financial statements

CD-et oic Zs u o Chartered Accountants and Registered Auditors Dublin Date I I 41/413

6.0

KERRY LIMITED
STATEMENT OF ACCOUNTING POLICIES
The significant accounting policies adopted by the company are as follows BASIS OF PREPARATION
The financial statements have been prepared in accordance with applicable United Kingdom accounting standards Accounting standards generally accepted in the United Kingdom in preparing financial statements giving a true and fair view are those published by the Institute of Chartered Accountants in England and Wales and issued by the Accounting Standards Board

ACCOUNTING CONVENTION AND REPORTING CURRENCY
The financial statements are prepared under the historical cost convention The amounts shown are stated in Sterling, the currency of the primary economic environment in which the company operates (its "functional currency")

7.0 KERRY LIMITED

Directors Report 13

DIRECTORS' REPORT

The directors submit their annual report together with the audited financial statements for the year ended 31 December 2006

1 PRINCIPAL ACTIVITIES AND BUSINESS REVIEW
The company did not trade dunng the current or preceding year and made neither profit nor loss nor any other recognised gains or losses It is not expected that the company will trade in the foreseeable future

2 DIRECTORS
The present membership of the Board is set out on page 2 There were no changes in directors or secretary dunng the year

3 DIRECTORS INTERESTS
The interests of the directors of the company and their spouses and minor children in the issued share capital at 31 December 2006 and 31 December 2005 were as follows
Sheet1 There has not been any contract or arrangement with the company during the year in which a director of the company was materially interested and which was significant in relation to the company's business 1.0 KERRY LIMITED
DIRECTORS' REPORT (CONTINUED)

4 STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations
Company law requires the directors to prepare financial statements for each financial year Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) The financial statements are required by law to give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that penod In preparing these financial statements, the directors are required to
?select suitable accounting policies and then apply them consistently, ?make judgments and estimates that are reasonable and prudent, ?state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements, ?prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business
The directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 1985 They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities

5 AUDITORS
Each of the persons who is a director at the date of approval of this report confirms that
?so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware, and
?the director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information
This confirmation is given and should be interpreted in accordance with the provisions of s234ZA of the Companies Act 1985
Deloitte & Touche have indicated their willingness to remain in office as the company's auditors and a resolution to reappoint them will be proposed at the forthcoming Annual General Meeting

Approved by the Board of Directors and signed on its behalf by

B Durran, Director

2007-05-31 00:00:00

4.0 KERRY LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KERRY LIMITED
We have audited the financial statements of Kerry Limited for the year ended 31 December 2006 which compnse the Statement of Accounting Policies, the Profit and Loss Account, the Balance Sheet and the related notes 1 to 3 These financial statements have been prepared under the accounting policies set out in the Statement of Accounting Policies
This report is made solely to the company's members, as a body, in accordance with Section 235 of the Companies Act, 1985 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 auditors' 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
Respective responsibilities of directors and auditors
The directors' responsibilities for preparing the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) are set out in the Statement of Directors' Responsibilities within the Directors' Report
Our responsibility is to audit the financial statements in accordance with relevant legal and regulatory requirements and International Standards on Auditing (UK and Ireland)
We report to you our opinion as to whether the financial statements give a true and fair view and are properly prepared in accordance with the Companies Act 1985 We also report to you whether in our opinion the information given in the Directors' Report is consistent with the financial statements
In addition we report to you if, m our opinion, the company has not kept proper accounting records, if we have not received all the information and explanations we require for our audit, or if information specified by law regarding directors' remuneration and other transactions is not disclosed
We read the Directors' Report and consider the implications for our report if we become aware of any apparent misstatements 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 matenal misstatement, whether caused by fraud or other irregularity or error In forming our opinion we evaluated the overall adequacy of the presentation of information in the financial statements

5.0 KERRY LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KERRY LIMITED (CONTINUED)
Opinion
In our opinion ?the financial statements give a true and fair view, in accordance with United Kingdom Generally Accepted Accounting Practice, of the state of the company's affairs as at 31 December 2006 and of its result for the year then ended, ?the financial statements have been properly prepared in accordance with the Companies Act 1985, and ?the information given in the Directors' Report is consistent with the financial statements
ic ,14,1._ Deloitte & Touche Chartered Accountants and Registered Auditors Dublin
at t-ettAt7Pra
KERRY LIMITED
STATEMENT OF ACCOUNTING POLICIES
The significant accounting policies adopted by the company are as follows BASIS OF PREPARATION
The financial statements have been prepared in accordance with applicable United Kingdom accounting standards Accounting standards generally accepted in the United Kingdom in prepanng financial statements giving a true and fair view are those published by the institute of Chartered Accountants in England, Scotland and Wales and issued by the Accounting Standards Board

ACCOUNTING CONVENTION AND REPORTING CURRENCY
The financial statements are prepared under the histoncal cost convention The amounts shown are stated in Sterling, the currency of the pnmary economic environment in which the company operates (its "functional currency")

7.0 KERRY LIMITED

Directors Report 14

DIRECTORS' REPORT

The Directors present their annual report and audited financial statements for the year ended 31 December 2005.
Business Review
The Company has not carried on any trading activities during the current or preceding year.
Directors' and Secretary's Interests
The present membership of the Board is set out on page 2. There were no changes in directors or secretary during the year.
The Directors and Secretary in office had the following interests in the issued ordinary share capital at 31 December 2005 and 31 December 2004:
Ordinary Shares

Padraic Coughlan 1

Auditors
The Auditors, Deloitte & Touche, Chartered Accountants have expressed their willingness to continue in office and a resolution will be proposed at the Annual General Meeting to reappoint them as Auditors.

ned on behalf of the Board:

Brian Durran Director Director
2006-06-02 00:00:00

adraic Coughlan 3.0
KERRY LIMITED STATEMENT OF DIRECTORS' RESPONSIBILITIES

United Kingdom company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Company as at the end of the financial year and of the profit or loss for the financial year.
In preparing the financial statements, the Directors are required to:

?select suitable accounting policies and then apply them consistently;
?make judgements and estimates that are reasonable and prudent;
?state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
?prepare the financial statements on the going concern basis unless it is inappropriate to assume that the Company will continue in business.

The Directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and which enable them to ensure that the financial statements comply with the Companies Act 1985. The directors are also responsible for the system of internal control, for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

4.0
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KERRY LIMITED

We have audited the financial statements of Kerry Limited for the year ended 31 December 2005, which comprise the profit and loss account, the balance sheet and the related notes 1 to 3. These financial statements have been prepared under the accounting policies set out therein.
This report is made solely to the company's members, as a body, in accordance with Section 235 of the Companies Act 1985. 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 auditors' 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.

RESPECTIVE RESPONSIBILITIES OF DIRECTORS AND AUDITORS As described in the statement of directors' responsibilities, the company's directors are responsible for the preparation of the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Our responsibility is to audit the financial statements in accordance with relevant United Kingdom legal and regulatory requirements and International Standards on Auditing (UK and Ireland).
We report to you our opinion as to whether the financial statements give a true and fair view in accordance with the relevant financial reporting framework and are properly prepared in accordance with the Companies Act 1985. We also report to you if, in our opinion, the director's report is not consistent with the financial statements, if the company has not kept proper accounting records, if we have not received all the information and explanations we require for our audit, or if information specified by law regarding directors' remuneration and other transactions are not disclosed.
We read the directors' report and the other information contained in the annual report for the above year as described in the contents section and consider the implications for our report if we become aware of any apparent misstatements or material inconsistencies with the financial statements.

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.
5.0
?

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KERRY LIMITED (continued)

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.

OPINION In our opinion:
?the financial statements give a true and fair view, in accordance with United
affairs as at 31 December 2005 and of its result for the year then ended; and
?the financial statements have been properly prepared in accordance with the

cL4t ima42-
De I oitte & Touche, Chartered Accountants and Registered Auditors. Dublin.

6.0
KERRY LIMITED PROFIT & LOSS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2005

The company did not trade during the current and preceding years and received no income and incurred no expenditure. Consequently, the company made neither a profit nor a loss during the current or preceding financial years.

7.0
KERRY LIMITED

Directors Report 15

DIRECTORS' REPORT

The Directors present their annual report and audited financial statements for the year ended 31 December 2004.

Business Review
The Company has not carried on any trading activities during the current or preceding year.

Directors' and Secretary's Interests
The Directors and Secretary in office had the following interests in the issued ordinary share capital at 31 December 2004 and 31 December 2003:
Ordinary Shares

Padraic Coughlan 1

Auditors
The Auditors, Deloitte & Touche, Chartered Accountants have expressed their willingness to continue in office and a resolution will be proposed at the Annual General Meeting to reappoint them as Auditors.

Signed on behalf of the Board:

Brian Durran Director

Padraic Coughlan Director
2005-05-10 00:00:00

ty---

3.0 KERRY LIMITED

STATEMENT OF DIRECTORS' RESPONSIBILITIES

United Kingdom company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and the profit or loss of the company for that year. In preparing those financial statements, the directors are required to select suitable accounting policies and then apply them consistently; make judgements and estimates that are reasonable and prudent; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 1985. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

4.0
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KERRY LIMITED
We have audited the financial statements of Kerry Limited for the year ended 31 December 2004, which comprise the profit and loss account, the balance sheet and the related notes 1 to 3.
This report is made solely to the company's members, as a body, in accordance with Section 235 the Companies Act 1985. 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 auditors' 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.

RESPECTIVE RESPONSIBILITIES OF DIRECTORS AND AUDITORS
As described in the statement of directors' responsibilities, the company's directors are responsible for the preparation of the financial statements in accordance with applicable United Kingdom law and accounting standards. Our responsibility is to audit the financial statements in accordance with relevant United Kingdom legal and regulatory requirements and auditing standards.
We report to you our opinion as to whether the financial statements give a true and fair view and are properly prepared in accordance with the Companies Act 1985. We also report if, in our opinion, the directors' report is not consistent with the financial statements, if the company has not kept proper accounting records, if we have not received all the information and explanations we require for our audit, or if information specified by law regarding directors' remuneration and transactions with the company is not disclosed.
We read the directors' report for the above year and consider the implications for our report if we become aware of any apparent misstatements.

BASIS OF AUDIT OPINION
We conducted our audit in accordance with United Kingdom auditing standards 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.

5.0
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KERRY LIMITED (continued)

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.
OPINION
In our opinion, the financial statements give a true and fair view of the state of the company's affairs as at 31 December 2004 and of its result for the year then ended and have been properly prepared in accordance with the Companies Acts 1985.
to 4.e_ ri.1,3_ Deloitte & Touche, Chartered Accountants and Registered Auditors. Earlsfort Terrace, Dublin 2.
f 6 Ro,t2oor

6.0
KERRY LIMITED
PROFIT & LOSS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2004

The company did not trade during the current and preceding years and received no income and incurred no expenditure. Consequently, the company made neither a profit nor a loss during the current or preceding financial years.

7.0
KERRY LIMITED

Directors Report 16

DIRECTORS' REPORT

The Directors present their annual report and audited financial statements for the year ended 31 December 2001.

Business Review
The Company was incorporated on 17 July 1998 and has not carried on any trading activities since that date.

Directors' and Secretary's Interests
The Directors and Secretary in office had the following interests in the issued ordinary share capital at 31 December 2001 and 31 December 2000:
Ordinary Shares

Padraic Coughlan 1 =
Auditors
The auditors, Deloitte & Touche, Chartered Accountants were appointed during the period and have expressed their willingness to continue in office and a resolution will be proposed at the Annual General Meeting to reappoint them as auditors and to authorise the Directors to fix their remuneration.

Signed on behalf of the Board:
11.0 ScArw t Brian Durran Director

3.0

draic C ughlan Director
2002-06-30 00:00:00

KERRY LIMITED

STATEMENT OF DIRECTORS' RESPONSIBILITIES

United Kingdom company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and the profit or loss of the company for that year In preparing those financial statements, the directors are required to select suitable accounting policies and then apply them consistently; make judgements and estimates that are reasonable and prudent; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 1985. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

4.0
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KERRY LIMITED

We have audited the financial statements of Kerry Limited for the year ended 31 December 2001 which comprise the profit and loss account, the balance sheet and the related notes 1 to 3.
RESPECTIVE RESPONSIBILITIES OF DIRECTORS AND AUDITORS
As described in the statement of directors' responsibilities, the company's directors are responsible for the preparation of the financial statements in accordance with applicable United Kingdom law and accounting standards. Our responsibility is to audit the financial statements in accordance with relevant United Kingdom legal and regulatory requirements and auditing standards.
We report to you our opinion as to whether the financial statements give a true and fair view and are properly prepared in accordance with the Companies Act 1985. We also report if, in our opinion, the directors' report is not consistent with the financial statements, if the company has not kept proper accounting records, if we have not received all the information and explanations we require for our audit, or if information specified by law regarding directors' remuneration and transactions with the company is not disclosed.
We read the directors' report for the above year and consider the implications for our report if we become aware of any apparent misstatements.
BASIS OF AUDIT OPINION
We conducted our audit in accordance with United Kingdom auditing standards 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.

5.0
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KERRY

OPINION
In our opinion, the financial statements give a true and fair view of the state of the company's affairs as at 31 December 2001 and of its result for the year then ended and have been properly prepared in accordance with the Companies Acts 1985. kSU&Q Deloitte & Touche, Chartered Accountants and Registered Auditors. Earl sfort Terrace, Dublin 2. 2002-06-30 00:00:00

6.0
KERRY LIMITED
PROFIT & LOSS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2001

The company did not trade during the current and preceding years and received no income and incurred no expenditure. Consequently, the company made neither a profit nor a loss during the current or preceding financial years.

7.0
KERRY LIMITED

Directors Report 17

REPORT OF THE DIRECTORS

The Directors present their annual report and audited Financial Statements for the year ended 31 December 2000.

Business Review
The Company was incorporated on 17 July 1998 and has not carried on any trading activities since that date.

Directors' and Secretary's Interests
The Directors and Secretary in office had the following interests in the issued ordinary share capital at 31 December 2000 and 31 December 1999:
Ordinary Shares

Padraic Coughlan 1

Auditors
The auditors, Deloitte & Touche, Chartered Accountants were appointed during the period and have expressed their willingness to continue in office and a resolution will be proposed at the Annual General Meeting to reappoint them as auditors and to authorise the Directors to fix their remuneration.

Signed on behalf of the Board: LQ Brian Durran Director

1/4 adraghlan Director
30 March, 2001.
3.0 KERRY LIMITED

STATEMENT OF DIRECTORS' RESPONSIBILITIES

Company law requires directors to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing those financial statements, the directors are required to select suitable accounting policies and apply them consistently, make judgements and estimates that are reasonable and prudent, state whether applicable accounting standards have been applied and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping proper books of account which disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 1985. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

4.0
REPORT OF THE AUDITORS TO THE MEMBERS OF KERRY LIMITED

We have audited the financial statements on pages 6 to 8, which have been prepared under the accounting policy on page 8.

RESPECTIVE RESPONSIBILITIES OF DIRECTORS AND AUDITORS As described on page 4 the company's directors are responsible for the preparation of financial statements, which are required to be prepared in accordance with applicable United Kingdom law and accounting standards. It is our responsibility to form an independent opinion, based on our audit, on those statements and to report our opinion to you.

BASIS OF OPINION We conducted our audit in accordance with United Kingdom Auditing Standards 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.
OPINION In our opinion the financial statements give a true and fair view of the state of the Company's affairs as at 31 December 2000 and of its result for the year then ended and have been properly prepared in accordance with the Companies Act 1985.
kAL Deloitte & Touche, Chartered Accountants and Registered Auditors. Deloitte & Touche House, Earls fort Terrace, Dublin 2. 30 March, 2001.

5.0 KERRY LIMITED
PROFIT & LOSS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2000

The Company was incorporated on 17 July 1998 and did not trade from that date to 31 December 2000. It received no income and incurred no expenditure and consequently, made neither a profit nor a loss.

6.0
KERRY LIMITED