Anglo Irish Asset Finance PLC 2008 Accounts

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Company No. 3091082 ANNUAL REPORT AND FINANCIAL STATEMENTS ANGLO IRISH ASSET FINANCE PLC I YEAR ENDED 30 SEPTEMBER 2008 LD2 *L8AE88GD* 25/03/2009 COMPANIES HOUSE 218 ANGLO IRISH ASSET FINANCE PLC Contents Corporate information Directors' report Statement of directors' responsibilities Management report Auditors' report Income statement Balance sheet Statement of changes in equity Cash flow statement Notes to the financial statements ANGLO IRISH ASSET FINANCE PLC Directors B Linehan D
  Company No. 3091082 ANNUAL REPORT AND FINANCIAL STATEMENTSANGLO IRISH ASSET FINANCE PLC I YEAR ENDED 30 SEPTEMBER 2008 *L8AE88GD*LD2 25/03/2009COMPANIES HOUSE218  ANGLO IRISH ASSET FINANCE PLC Contents Corporate informationDirectors' reportStatement of directors' responsibilitiesManagement reportAuditors' reportIncome statementBalance sheetStatement of changes in equityCash flow statementNotes to the financial statements  ANGLO IRISH ASSET FINANCE PLC Directors B LinehanD QuilliganF G ParkerJ Brydie (appointed 19 March 2008) T P Walsh (appointed 19 March 2008)D Murray (resigned 22 May 2008) Secretary F G Parker Auditors Ernst & Young LLP1 More London PlaceLondon, SE1 2AF Bankers Anglo Irish Bank Corporation Limited10 Old JewryLondonEC2R 8DNBarclays Bank ptcLondon Corporate BankingPO Box 544Lombard StreetLondon, EC3V 1EX Registered office 10 Old JewryLondonEC2R 8DN Registered number 3091082  ANGLO IRISH ASSET FINANCE PLC REPORT OF THE DIRECTORS The directors present their report and the audited financial statements for Anglo Irish Asset Finance pic ('the Company )for the year ended 30 September 2008. 1. PRINCIPAL ACTIVITIES The Company continues to provide commercial finance to businesses and individuals supported by real estate andlease finance and hire purchase facilities. 2. PRINCIPAL RISKS AND UNCERTAINTIES The principal risks and uncertainties facing the Company relate to the credit, liquidity, market, operational andcompliance risks associated with its lending activities and capital markets funding instruments. Further details on theserisks are set out in the Management Report, while manangement of these risks is set out in Note 24 of the auditedfinancial statements. 3. RESULTS FOR THE YEAR AND STATE OF AFFAIRS AS AT 30 SEPTEMBER 2008 The results for the year and the balance sheet at 30 September 2008 are set out on pages 11 and 12.The loss after taxation for the year amounted to £83m (2007: profit £17m). This loss reflects higherprovisioning levels along with foreign exchange losses incurred on the Yen financing arrangement (See Note 5).Total equity amounted to £234m as at 30 September 2008 (2007: £317m).The Management Report contains a further review of the performance of the Company. 4. DIVIDEND The directors do not propose the payment of a dividend in respect of the year ended 30 September 2008 (2007: £ Nil). 5. FUTURE DEVELOPMENTS The directors will continue to closely monitor the performance of the Company, more details of which are set outin the Management Report. 6. DIRECTORS AND SECRETARY Brian Linehan, Declan Quilligan and Gordon Parker continued to serve as directors throughout the year.James Brydie and Thomas Walsh were appointed directors on 19 March 2008. All directors will continue inoffice in accordance with the articles of association. David Murray resigned as director on 22 May 2008.Gordon Parker served as secretary throughout the year. The directors and secretary had no interestsin the shares of the Company during the year. 2
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