oi't of the Inde endent Auditors to the Trustces and Members of Colin Nei hbourliood Partnershi Our responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial stateinents as a whole are free fi'oin matci'ial misstatement, whether due to fraud or error, aiid to issue a Report of tlie Independent Auditors that includes our opinion. Reasoiiable assurance is a liigh level of assurance, but is iiot a giiarantee that an aiidit coiiducted iii accordance witli ISAS (UK) will always d¢t¢ct a inaterial misstateInent wlien it exists. Misstateineiits can ai'ise froin fraud or error and are considered material if, iiidividually or in the aggi'egate, they coiild reasonably be expected to influence the economic decisions of users taken on tl)e basis of these fiiiaiicial statemeiits. The extent to which our procedures are capable of detecting irregularities, including fi'aud is detailed below.. Iri'egularities, includiiig fraud, are instances of non-compliance with laws and regiilations. We design procedures in line with our responsibilities, outlined above, to detect material inisstateinents in respect of ii'i'egLilai'ities, including fraud. Iii particular, we looked at where management made subjective judgemeiits, for exainple iii I'espect of accouiiliiig estiinates tliat involved making assuinpÉions aiid coiisidei'iiig futiire events that are inherently uncertaii). We also considered potential finaiicial or otlier pressures, opportLiiiiIy and motivatioiis for fraud. As part of this discussion. we identified the internal controls e5tablislied to Initigate risks related to fraud or non-coinpliaiice with laws and regulations and how Inanageineiit Inoiiitor tl)ese processes. Appi'opriate procedures included the review and testing of maiiual journals and key estiinat¢s and judgeinents made by Inanagement for risk of fraud. Based on oiir understanding of the compaiiy ai)d iiidustry. we identified the principal i'isks of non-compliance with laws and regulations as those that have a direct iinpact oli the deterinination of Inaterial ainounts aiid disclosures in the financial slatements. We evaluated managemeiit's incentives and opportunities for fraudulent manipulation of the finai)cial statements aiid ideiitified the greatest potential for fraud, We communicated the identified laws and regiilations tliroughout tlie audit team and reinained alert to any indications of non-coinpliance tliroLigliouL the audit. Audit procedures performed included, but were not limited to: Discussioiis witli manageinent including consideration of known or suspected instances of non-compliance with laws and regulation and fraud; Reviewing the financial statement disclosures and testing to supporting documentation; Keview of board meeting Ininutes of those charged with governance; Iii addressing the I'isk of fraud through management override of controls, testing the appropriateness of journal entries aiid otlier adjustinents. As part of an audit in accordance witli ISAS (UK), we exercisc professional judgment and Inaiiilaiii professional scepticlsm throuEhout the audit. We also:_ Identify and assess the risks of material misstatement of the financial statements, whether duc to fraud or error, design and perform audit procedures rcsponsive to those risks, and obtain audit evidence thal is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a matei'ial Inisstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusioii, forg¢i'y, inteiitional omissions. misrepresentations, 01 the override of internal control. Obtain an understanding of internal control rclevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of exprcssing an opinion on the effectiveiiess of the cliarities internal control. 18
ort of the Inde endenl Auditors to the Trustees and Members of Colin Nci hbourhood Partnershi Evaluate ilie appropriateness of accounting polici used and the reasonableness of accountiiig estiinates aiid related disclosures made by the trustees. Perforin analytical procedures to identify any unusual or unexpected r¢lationships that may indicate risks of material misstateinent due to fraiid or error. Concliide on the appropriateness of the trustees, use of the going concern basis of accounting and based on the aiidit evidence obtained, whether a Inaterial uncertainty exists I'elated to events or conditions that inay cast significant doubt on the charities ability to continue as a going Concern. If we Conclude that a matei'ial uncertainty exists, we are required to draw attention in our auditor's report to tlie related disclosures in tlie fiiiancial stateinents or, if such disclosures are inadeqiiate, to Inodify our opinion. Our con¢lusioiis are based oli the audit evidencc obtaiiied lip to the date of our auditor's report. However. future events oi. conditions may cause tlie chai'ity to cease to coiitiiiue as a goiiig coiicerii. Evaluate the overall preseiitation, structure, and content of the fiiiancial stateinents, including tlie disclosures aiid whether the financial statements represent the underlying transactions and events in a Inaniier tliat aclii¢ves fair presentatioi). We commuiiicate with those charged with goveriiance regarding, amoiig otlier malters, the plaiined scope and timing of tlie audit aiid significai)t audit findings, including significant deficiencies in internal coiitrol tliat we identify diiring our audit. A fui'lliei. description of our respoiisibilities for the audit of the finaiicial stateineiits is located oil tlie ri inancial Repoi'ting Council's websile at www.frc.org.uklauditorsresponsibilities. Tliis descriplioii forins pai't of our Report of the Independent Auditors. Use of our report Tliis report is inade solely to the charitable company's members. as a body. in accordance witli Cliaptei. 3 of Part 16 of the Coinpaiiies Act 2006. Our audit work has beeii underlaken so tliat we miglit slate to thc charitable coinpany's meinbers those matters we are reqiiired to state to ihein in ali auditors, report and for no otlier pui'pose. To tl)e fullest extent pcrinitted by law, we do not accept or assume responsibil ity to anyoiie otliei. thali the cliai'itable company and tlie charitable coinpaiiy's meinbers as a body, for our audit work, foi. this I'eport, or for tlie opiiiions we have formed. Alistair Wells (Senior Statutory Auditor) roi, and on behalf of Lynn Drake & Co Ltd Statutory Auditors I st Floor 34 B-D Main Street Moira Co. Armagh BT67 OLE I I September 2024 l9