FARSET ENTERPRISE PARK LIMITED INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF FARSET ENTERPRISE PARK LIMITED Oplnlon We have audited the financlal statements of Farset Enterprise Park Limited (the 'charity') for the year ended 31 March 2023 which comprise the statement of financial activities, the balance sheet and notes lo the financial statements, including significant accounting policies. The financial reporting framework that has bgen applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in tha UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion. the financial statements.. give a Irue and fair view of the slate of the charitable company's affairs as at 31 March 2023 and of its incoming resources and application of resources, for the year then ended; have been property prepared in accordance with United Kingdom Generally Accepted Accounting Practi. and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for opinlon We conducted our audlt in accordance with International Standards on Auditing (UK) (ISAS {UK)) and applicable law. Our responsibilities under those standards are further described in the Auditoffs responsibilities for the audit ol the financial statements section of our report. We are independent of the charity in accordance with the ethi¢81 requirements that are relevant to our audit of the financial statements In the UK. including the FRC'S Ethical Standard. and we have fulfllled our other ethical r8sponsibilitie5 in accordanc8 Wlth thes8 requirements. We believ8 that the audit eVIden w8 have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relatlng to golng conc8rn In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that. individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report. other information The other information comprises the Information included in the annual report other than the financial statements and our aUdit0S report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other infomiation and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so. consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially. misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determlne whether this gives rise to a materkgl misslatement in the financial statements themselves. If. based on the work we have performed, we conclude that there is a material misststement of this other information. we are required to report that fact. We have nothing to report in this regard. Matters on whlch we are requlred to report by exceptlon W8 have nothing to report in respect of the following matters in relation to which the Charities {Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion.. the information given in the financial statements is inconsistent in any material respect with the trustees report: or sufficient accounting records have not been kept. or the financial statements are not in agreement with the accounting records., or we have not recelved all the information and explanations we require for our audit.
FARSET ENTERPRISE PARK LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF FARSET ENTERPRISE PARK LIMITED Responsibilities of trustees As explalned more fully in the statement of trustees responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial stalements and for being satisfied that they give a true and fair view. and for such intemal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable. matters related to going concern and using the going concern basis of accounting unless the trustees either intend to Ilquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditorfs responsibilities for the audit of the financlal statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assuran about whether the financial statements as a whole are free from material misstatement. whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate. they could reasonably be expected to influen the economic decisions of users taken on the basis of these financial statements. The extent to which our procedu5 are capable of detecting irregularities, including fraud, is detailed below. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularilies, including fraud is detailed below: obtained an understanding of the legal and regulatory frameworks that are applicable to the Charttable Company and determined that the most significant are those that relate to the reporting framework (FRS 102 and the CompaniesAct 2006) and the relevant tax compliance regulation in the United Kingdom,. understood how Ihe Charttable Company is complying with those frameworks by making enquiries of management to undersland how the Charitable Company maintains and communicates its policies and procedures in these areas- assessed the vulnerability of the Charitable Company's financial statements to material misstatement, including how fraud might occur by considering the risk of managernent override and by assuming revenue recognition to be a fraud risk; and based on this understanding our audit procedures were designed to Identlfy noTrcompliance with such laws and regulations. A further description of our responsibilities 15 available on the Financial Reporting Councll's website at: https'.11 www.frc.org.uldauditorsresponsibilit18s. This description forms part of our auditorfs report. Use of our report This report is made solely to the company's members, as a body, in accordance with section 391 of the Companies Act 2014. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to Ihem in an auditor's 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 companls members as a body, for our audit work, for this report, or for the opinions wethave formed.
FARSET ENTERPRISE PARK LIMITED . INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF FARSET ENTERPRISE PARK LIMITED Patrick Mlscampbell (Senior Statutory Auditor) for and on behalf of Miscampbell & Co 29 November 2023 Chartered Accountants Statutory Audltor 6 AnnadaleAvenue Belfast BT7 3JH Miscampbell & Co is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.