Wigan Link Report of the Trustees For the year énded 30 March 2024 The trustees are pleased lo present their report together wlth the financi81 s181emenls of the charity lor the year ended 30 March 2024, The legal and admlnlslralive Infomialion set out on page 1 forms part of this report. The financlal 51alements comply wlth the Charitles Act 2011. the Companies Act 2006, the Memorandum and ArtlclÈs of Association, and Accounling and Reporting by Charitles.. Slalemenl of Recommended Practi applicable to charities preparing Iheir awounls in accordance wlth the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 leffeclive 1 October 20191. Objectivos of the charlty Wigan Link was formed in 1989 by a Company of people who have sons or daughters who happen to have a learning disability. We could see the need to offer our sonsldaughlers and other individuals who live with their families in Wigan the chance to when the time is right - move out of their parental home and into a home of their own, with rights and choices about who, if anyon8, livès with them and where they wlsh to Ilve. Wigan Llnk wlll, with Ihe person and the people around this individual, plan and negolla18 wllh Wigan Council lo offer a 8eNice that is tsilored around the indivldual. In settlng our objectives and plannlng our activities, our Irltstees have glven careful consideration to the Charity Commission's general guldance on public benefit. Organlsation and management Wigan Link is a company limited by guarantee and a reglslered charity governed by Its memorandum and articles of association. Wigan Link has an elected management group which works In partnership with our Local Authorlty and Health Authortly. We are a Registered Charity and a company limited by guarantee. Wigan Link wholeheat1edly believes in equal opportunities and fully supports the prlnclple of °ordinary opportunities" in whalev8r form this may be represenled. This further supports that Wigan Link has complied with Charities Act Public Benefit Guidance. Invèstment powers Under the memorandum and artlcles of assoclatlon, the charfty has the power to make any investment, for the benefit of the charfty, which the trustees see fll. Revlew of the actlvltles and future devolopments Wigan Link currently supports 27 individuals in thelr own homes. Each person's support is funded by direcl payment from local aulhorilies. Wigan Link will continue with this support and funding as long as It is required by the individuals concerned. Fundlng sources Fundlng is received from local authorities and is dependent upon each individual's specific requirements. Flnanclal revlew Thi8 year income generated by the charity decreased from £2,913,283 to £2,893,737 and the expendlture ncurred Increased f¥om £2.941,397 10 £2,962,610. This resulted in a fund deficit of £68,873 compared to £28,114 in the prlor year. The charity has had a net deficit In the CUTrent year and therefore has seen a decrease In funds carvied forward. During the course of the year, staff costs exceeded budget due to declsions taken to support staff which contributed towards the deficit in the year. Wlgan Link Legal and Admlnlstrative Information For the year ended 30 March 2024 Constitution Wigan Link is a company limited by guarantee and a regislared charity governed by its memorandLtm and arlicles of association. The registered charity number is 1042791 and (he company number Is 02894707. The charitable company was incorporated on 4 February 1994 under ils memorandum and articles of association, and the chaiity was registered with the charity commlssion on 14 December 1994. Directors and trustees The directors of the charllable company {"Ihe charity") are ils Iruslees for the purpose of charity law and throughout this report are collectively referred lo as thts Iruslees. The management committee, directors and Iruslees seNing during Ihè year and slnce the year end were 8s follows:_ Nomlnated Chalrperson Mr R Short Management Commltteo Mrs E Fox Mr P Short Miss A Welch Mr K Barton Mr N Robinson Mrs P Short Mr R Short Mr P McDon8ld Mr B BroGklehurst Mrs J Dunlop Mrs A Baker Mrs C Harrison Mr R Alherton Mr J Dunlop Secretary TTU3tees and Dire¢tors Mr N Robinson Mr R Short {Chairpersonl Mr N Robinson Mr P McDonald Mrs E Fox Reglstered Offlce POBoxG15 Unlty House Westwood Park Drive Wigan WN3 4HE Auditors McDade Roberts 316 Blackpool Road Fulwo(Id Preston Lancashire PR2 3AE Accountants RSM UK Tax and Accountlng Limited Bluebell Hou88 Brian Johnson Way Preston Lancashlre PR2 SPE Bankers National Weslmlnsler Bank plc Wigan Branch 4 Standlshgale Wlgan WN1 1U Wigan Llnk Report of the Trustees (contlnued) For the year ended 30 March 2024 Sadly, during the prior year in June 2023. one of the gentlemen we supported passed away, he had been supported by Wigan Link for g years. His team all look redundanGy. This was a par(Icularly large service of 233 hours per week, therefore the financial Implications of losing this service were reflected in tha accounts. We also lost another service of just 11 hours per week due lo the lady moving Into supported accommodation. During the financial year of 2023-2024, Wig8n Link continued lo provlde high level quality ServI￿S to individuals supported. Positive relationships wilh local Health and SocS8l Services continued. on￿ again Ihanks lo a superb team, we have continued lo provide both conlinully and quality at all times, responding lo changing needs of individuals involved with Wigan Link and confident that Ihls will continue. Organisalions and service providers continua lo be faced wilh difficult decislons in lèms of seNice development however. Wigan Link has and will respond within a person-cèntred framework that meets needs in the most diverse and unique ways. Management Commlttee The management committee during the year were.. Mr R Short Miss A Welch Mr N Robinson Mr K Barton Mr R Alherton Mrs E Fox Mrs P Short Mr P Short Mrs C Harrison Mr P McDonald Mr J Dunlop Mrs A Baker Mrs J Dunlop Mr B Brocklehursl Trustees and Dlrectors The trustees and directors who served during the year and lo the dale of this report were: Mr R Short Mr N Robinson Mr P McDonald Mrs E Fox Trustees are appoinled by tha Trustees of the Charily. Induction and traln5ng of Trustees follows guidelines and directives from Charilitss Commission and Companies House. Pay 8nd remuTreration of charllies key personnel Is worked out when setting the budget for the year and is therefore dependent on funds provided by the local aulhorily. The elected Trustees work with the Registered Manager, the Nominated Individual representative for the Trustees and the Management group in making decisions on behalf of Ihe company. All operational aspects 8re undert8ken by the Operations Manager or Registered Manager. Any decision making on behalf of the company is made jolnlly with the Trustees. Reserves policy and Rlsk Management In September 2021, the Trustees caffled out a review of the exisllng slrateglc plan and risk strategy put in pla￿ in 2014. 11 was ¢18ar that WSgan Link's main income rémalns solely as reslricled ftjnding, vla Dlrecl Payments paid Ihrough a third-party accounts holder Disabilily Direct. This has worked well since inception and, as we have worked hard to have an excellent working relationship with the Local Authorities, the current management risk strategy will rernaln unchanged. As always, Wigan Link provide seryices based on need and would aller accordingly. As it is not for profil, Ihere is no identified risk as all services are self-financing and one does nol impact on another. ReseNes are retained In order lo ensure the charity can continue in operational existence for the foreseeable fL*ture and meet mor81, slalitlory and other commitments arising from the wilhdrawal or reduction of funding. The trustees. policy is to retain reseNes lo cover al least one month's payroll. Wigan Link Report of the Trustees (continued) For the year ended 30 March 2024 Reserves are also retalned to finance future plans in line with the charitable company's aims. The Iruslees are satisfied that lh8 assets of Wigan Link are available and adequate lo fulfil the obligations of the charitable company. Details of the specific funds are given in th6 notes lo the financial slalements. The level of reserves is considered and reviewed at regular Inte￿alS. As slated In the m8mor8ndum and artlcles of association, any non discharged reserves can be pul lo the same charitable use of any other likeminded charitable organisalion. statement of Trustees, Responslbllltles In Relation to Flnanclal Statements The Iruslees (who 8re also directors of Wigan Link for the purposes of company law} are responsible for preparing the Truslees, Raport lincorporaling the strategic report and directors, report) and the ftnancial slalemenls in accordance wllh appllcable law and Unlled Kingdom Accounting Standards, Includlng Fln2ncial Reporting SlandaTd 102.. The Financlal Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practi￿). Company law requires the Irustees lo prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the charitable company and of the income and expenditure, of the ch2111able company for that period. In preparing these financial slalements, the Irusle6s are required select suilable accounting policies and then apply them consislenlly,. obseNe Iha methods and principlès in the Charities SORP., make judgments and accounting esllmates that are reasonable and prudent. slate whether applicable UK Accounting Standards have been followed, subject lo any malerfal dèpartures disclos6d and explained In th8 financial slalamenls, and prepare the financial statements on the golng can￿rn basls unless11 Is Inapproprlale lo presume that the charitable company will continue in business. The trustees are responsible for maintaining proper accounllng records whlch dlsclose with reasonable accuracy al any lime the financial position of the ¢harilable company and enable them lo ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of tho charitable company 8nd hence for taking reasonable steps for tha prevention and detection of fraud and other Irregularities. The Iruslees 8ra responsibl8 for the mainlenance and integrity of the corporate and financ181 Informallon included on the charllable company's website. Leglslallon in the Unilad Kingdom goveming the preparation and disseminatiOFI of financial statements may differ from legislallon In olherlurisdlclions. Wigan Link (A company limited by guarantee) Report and Financial Statements for the year ended 30 March 2024 Company Number: 02894707 Charity Number: 1042791 Wigan Link Contents Contents Page No. Legal and administrative information Report of the trustees Independent Auditors, Report to the Mernbers Statement of financial activities Statement of financial position 10 Statemenl of cash flows Notes to the financial statements 12-18 Wigan Link Legal and Administrative Information For the year ended 30 March 2024 Constitution Wigan Link is a company limited by gLtarantee and a registered charity governed by its memorandum and articles of association. The registered charity number is 1042791 and the company number is 02894707. The charitable company was incorporated on 4 February 1994 under its memorandum and articles of association, and the charily was registered with the charity commission on 14 December 1994. Directors and trustees The directors of the charitable company {'the charity.) are its trustees for the purpose of charity law and throughout this report are colleclively referred to as the Irustees. The management committee, directors and truslees serving during the year and since the year end were as follows... Nominated Chairperson Mr R Short Management Committee Mrs E Fox Mr P Short Miss A Welch Mr K Barton Mr N Robinson Mrs P Short Mr R Short Mr P McDonald Mr B Brocklehurst Mrs J Dunlop rs A Baker Mrs C Harrison Mr R Atherton Mr J Dunlop Secretary Mr N Robinson Trustees and Directors Mr R Short (Chairperson} Mr N Robinson Mr P McDonald Mrs E Fox Registered Office PO BoxG15 Unity House Westwood Park Drive Wigan WN3 4HE Auditors McDade Roberts 316 Blackpool Road Fulwood Preston Lancashire PR2 3AE Accountants RSM UK Tax and Accounting Limited Bluebell House Brian Johnson Way Preston Lancashire PR2 SPE Bankers National Westminster Bank plc Wigan Branch 4 Standishgate Wigan WN11U Wigan Link Report of the Trustees For the year ended 30 March 2024 The trustees are pleased to present their report together with the finanoial slatements of Ihe charity for the year ended 30 March 2024. The legal and administralive information set out on page 1 forms part of this report. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charities preparing their accounts in accordan￿ wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (effective 1 October 20191. Objectlves of the charlty Wigan Link was formed in 1989 by a company of people who have sons or daughters who happen lo have a learning disability. We could see the need lo offer our sonsldaughters and other individuals who live with their families in Wigan Ihe Chan￿ to when the time is right - move out of their parental home and into a home of their own, with rights and choices about who, if anyone, lives wilh them and where they wish to live. Wigan Link will, with the person and the people around this individual, plan and negotiate with Wigan Council lo offer a service that is tailored around the individual. In setting our objectives and planning our activities, our trustees have given careful consideration to the Charily Commission's general guidan￿ on public benefit. Organisation and management Wigan Link is a company limited by guarantee and a registered charity governed by its memorandum and articles of association. Wigan Link has an elected management group which works in partnership with our Local Authority and Health Authority. We are a Registered Charity and a company limited by guarantee. Wigan Link wholeheartedly believes in equal opportunities and fully supports the principle of "ordinary opportunities" in whatever form this may be represented. This further supports that Wigan Link has complied with Charities Act Public Benefit Guidance. Investment powers Under the memorandum and articles of association. the charity has the power lo make any investment, for the benefit of the charity, which the trustees see fit. Review of the activities and future developments Wigan Link currently supports 27 individuals in their own homes. Each person's support is funded by direct payment from local authorities. Wigan Link will continue with this support and funding as long as it is required by the individuals concerned. Funding SOUTces Funding is received from local authorities and is dependent upon each individual's specific requirements. Financial review This year income generated by the charily decreased from £2,913,283 to £2,893,737 and the expenditure incurred increased from £2.941,397 to £2,962,610. This resulted in a fund deficit of £68,873 compared lo £28,114 in the prior year. The charity has had a net deficit in the current year and therefore has seen a decrease in funds carried forward. During the course of the year, staff costs exceeded budget due lo decisions taken lo support stsff which contributed towards the deficit in the year. Wigan Link Report of the Trustees (continued) For the year ended 30 March 2024 Sadly, during the prior year in June 2023, one of the gentlemen we supported passed away, he had been supported by Wigan Link for 9 years. His team all took redundancy. This was a particularly large service of 233 hours per week, therefore the financial implications of losing this service were reflecled in the accounts. We also lost another service of just 11 hours per week due to the lady moving into supported accommodation. During the financial year of 2023-2024, Wigan Link continued to provide high level quality services to individuals supported. Positive relationships with local Health and Social Services continued. Once again thanks lo a superb team, we have continued to provide both continuity and quality at all times, responding lo changing needs of individuals involved with Wigan Link and confident that this will continue. Organisations and service providers continue to be faced with difficult decisions in lemis of service development however, Wigan Link has and will respond within a person-cenlred framework that meets needs in the most diverse and unique ways. Management Committee The management committee during the year were.. Mr R Short Miss A Welch Mr N Robinson Mr K Barton Mr R Alherton Mrs E Fox Mrs P Short Mr P Short Mrs C Harrison Mr P McDonald Mr J Dunlop Mrs A Baker Mrs J Dunlop Mr B Brocklehurst Trustees and Directors The trustees and direclors who served during the year and to the date of this report were: Mr R Short Mr N Robinson Mr P McDonald Mrs E Fox Trustees are appointed by the Trustees of the Charity. Induction and training of Trustees follows guidelines and directives from Charities Commission and Companies House. Pay and remuneration of charities key personnel is worked out when setting the budget for the year and is therefore dependent on funds provided by the local authority. The elected Trustees work with the Registered Manager, the Nominated Individual representstive for the Trustees and the Management group in making decisions on behalf of the company. All operational aspects are undertaken by the Operations Manager or Registered Manager. Any decision making on behalf of the company is made joinlly with Ihe Trustees. Reserves policy and Risk Management In September 2021, the Trustees carried out a review of the existing stralegic plan and risk strategy pul in place in 2014. It was clear that Wigan Link's main income rèmains solely as reslricled funding, via Direct Payments paid through a third-party accounts holder Disability Direct. This has worked well since In￿ptIOn and, as we have worked hard to have an excellent working relationship with the Local Authorities, the current management risk strategy will remain unchanged. As always, Wigan Link provide services based on need and would alter accordingly. As it is not for profil, there is no identified risk as all services are self-financing and one does not impact on another. Reserves are retained in order to ensure the charity can continue in operational existence for the foreseeable future and meet moral, statutory and olher commitments arising from the withdrawal or reduction of funding. The trustees, policy is to retain reseNes lo cover at least one month's payroll. Wigan Link Report of the Trustees (continued) For the year ended 30 March 2024 Resetves are also retained to finance future plans in line with the charitable company's aims. The trustees are satisfied that the assets of Wigan Link are available and adequale lo fulfil the obligations of the charitable company. Details of the specific funds are given in the notes to the financial stalemenls. The level of reserves is considered and reviewed at regular intervals. As stated in the memorandum and articles of association, any non discharged reseNes can be PLtt lo the same charitable use of any other likeminded charitable organisalion. Statement of Trustees, Responsibilltles In Relation to Financial Ststements The trustees (who are also directors of Wigan Link for the purposes of company law) are responsible for preparing the Trustees, Report lincorporaling the strategic report and directors, report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102.. The Financial Reporting Stsndard applicable in Ihe UK and Republic of Ireland (Uniled Kingdom Generally Accepted Accounting Practice}. Company law requires the trustees lo prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expendilure, of the charitable company for that period. In preparing these financial stalements, the trustees are required to.. select suitable accounting policies and Ihen apply them consistently., observe the methods and principles in the Charities SORP,. make judgments and accounting eslimales that are reasonable and prudent,. state whether applicable UK Accounting Standards have been followed, subject lo any material departures disclosed and explained in the financial statements, and prepare the financial statements on the going concern basis unless il is inappropriate lo presume that the charitable company will continue in business. The trustees are responsible for maintsining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable 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 charitable company and he￿￿ for taking reasonable steps for the prevention and deleclion of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information induded on the charitable company's website. Legislatior) in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Wigan Link Report of the Trustees (continued) For the year ended 30 March 2024 Public Benefit statement The Iruslees of Wigar) Link confirm that they have complied with their duly to have due regard to the guidance on public benefit published by the charity commission in exercising their powers or dulles. Auditors Insofar as the trustees are aware: there is no relevant audit information of which the charitable company's auditor is unaware,. and the trustees have taken all steps Ihey ought to have taken lo make themselves aware of any relevant information and to establish that the auditor is aware of that information. Registered office= PO Box G15 Unity House Westwood Park Drive Wigan WN3 4HE On behalf of the trustees.. Mr R Short (Chairperson) Approved by the Iruslees on Wigan Link Independent Auditors, Report to the Members For the year ended 30 March 2024 Opinion We have audited the financial statements of Wigan Link (the 'charitable company'l for the year ended 30 March 2024 which comprise the Slatemenl of Financial Activities. the Statement of Financial Position Statement of Cash Flows and notes lo the linancial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102= The Financial Reporting Standard applicable in the UK and Republic of Ireland {Uniled Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the charitable company's affairs as at 30 March 2024 and of its incoming reSoUr￿S and application of resources, including its income and expendilure, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK} {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordan￿ with the ethical requirements that are relevant to our audit of the financial slalements in the UK, including the FRC'S Ethical Slandard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe Ihal the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern We have nothing to report in respect of the following matters in relation to which the ISAS (UK) require us to report to you, where.. the trustees, use of the going concem basis of accounting in the preparation of the financial statements is not appropriate., or the trustees have not disclosed in the financial statements any identified material uncertainties that May cast significant doubt about the charitable company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are aulhorised for issue. Other information The Iruslees are responsible for the other information. The other information comprises the information included in the annual report, other than Ihe financial statements and our Report of the Independent Auditors Ihereon. Our opinion on the financial statements does not cover the other infomiation and, except to the extent otherwise explicitly staled in our report, we do not express any form of assurance conclusion Ihereon. In connection with our audit of the financial stalemenls, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial stalements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misststements, we are required to delermine whether there is a material misstatement in Ihe financial statements or a material misstalemenl of the other information. If, based on the work we have performed, we conclude that there is a material misslatemenl of this other information, we are required to report that lacl. We have nothing to report in Ihis regard. Wigan Link Independent Auditors, Report to the Members (continued) For the year ended 30 March 2024 Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course ofthe audit= the information given in the trustees, report (incorporating the strategic report and the directors, report) for the financial year for which the financial statements are prepared is consistent with the financial statements- and the truslees, report (incorporating the strategic report and the directors, report) has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees, Annual Report. We have nothing lo report in respect of the following matters in relation to which Ihe Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept or retums adequate for our audit have not been received from branches not visited by us., the financial statements are not in agreement with the accounting records and retums., certain disclosures of trustees, remuneration specified by law are not made., or we have not obtained all the information and explanations necessary for the purposes of our audit. Responsibilities of trustees As explained more fully in the Statement of Truslees Responsibilities, the trustees {who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misslatement, whelher due to fraud or error. In preparing the financial slatemenls, the trustees are responsible for assessing the charitable companls ability to continue as a going concern, disclosing, as applicable, mallers related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative bul to do so. Our responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assLtrance about whether Ihe financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee that an audit conducted in accordance with ISAS {UKI will always detect a material misstatement when it exists. Misstatements Can arise from fraud or error arid are considered material if, individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users tsken on the basis of these financial statements. We design our procedures so as to obtain sufficienl appropriale audit eviden￿ that the financial statements are not materially misstated due to non-compliance with laws and regulations or due lo fraud or error. Based on our understanding of the charitable company and sector and discussions with the Trustees and Directors we identified FRS102, Charities SORP {FRS1021, Companies AGt 2006 and Charities Act 2011 as having a direct effect on the amounts and disclosures in the financial statements. Other laws and regulations where non-compliance may have a material effect on the charitable companys operations is compliance with the safeguarding. Health and safety is another significant factor in light of the nature of seNices provided. Wigan Link Independent Auditors, Report to the Members (continued> For the year ended 30 March 2024 As part of the engagement leam discussion about how and where the charitable company's financial statements may be materially misstated due lo fraud, including managemenl override of systems but did not conclude there lo be any areas with an increased risk of fraud. Our audit procedures included= enquiry of the Trustees and Directors about the charitable company's policies, prO￿dureS and related controls regarding compliance with laws and regulations and if there are any known instances of non- compliance., examining supporting documents for all malerial balances, transactions and disclosures. review and inspection of relevant correspondence and costs with the companvs legal represenlalives and discussion in respect of CQC status and inspections., analytical procedures to identify any unusual or unexpected transactions or relationships., lesting the appropriateness of journal entries recorded in Ihe general ledger and other adjustments made in the preparation of the financial statements., review of accounting estimates for manipulation Owing to Ihe inherent limitations of an audit, there is an unavoidable risk that some material misstatements of the financial stalements may not be detected, even though the audit is properly planned and performed in accordance with the ISAS (UK). The potential impact of inherent limitations could be s￿gnifICant in the case of misstatement resulting from fraud because fraud may involve sophisticated and carefully organised schemes designed lo conceal il, including deliberate failure to record transactions, collusion or intentional misrepresentations being made to us. We are not responsible for preventing non