FARSET YOUTH AND COMMUNITY DEVELOPMENT LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF FARSET YOUTH AND COMMUNITY DEVELOPMENT LIMITED
Opinion
We have audited the financial statements of Farset Youth and Community Development Limited (the 'charity') for
the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet, the
statement of cash ftows and notes to the financial slatements, including significant a¢counting 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 (United 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 31 March 2024 and of its
incoming resour¢es and application of resour¢es, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted A¢¢ounting Practio;
and
have been prepared in a¢cordan¢e 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 ol
the financial statements section of our report. We are independent of the charity in accordan¢e with the ethical
requirements that are relevant to our audit ol the financial statements in the UK, including the FRC'S Ethical
standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe
that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees, use of the going concem 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 ¢on¢em 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 auditorfs report thereon. The trustees are responsible for the other information contsined within the annual
report. Our opinion on the financial ststements 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 determine whether this gives rise to a material misstatement
in the financial statements themselves. If, based on the work we have performed, we conclude that there is a
material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exceptlon
We have nothing to report in respect of the following matters in relation to which the Charities {A¢¢ounts 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 received all the information and explanations we require for our audit.
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FARSET YOUTH AND COMMUNITY DEVELOPMENT LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF FARSET YOUTH AND COMMUNITY DEVELOPMENT LIMITED
Responsibilities of trustees
As explained 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 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 misststement, 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 eilher intend to liquidate the charitable company or to ¢ease
operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial ststements
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 assurance 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 a¢cordance
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 influence
the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures 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. However, the primary responsibility for the prevention and detection of fraud rests with both those charged
with governance of the Company and management. The extent to which our procedure5 are Capable of detecting
irregularities, including fraud is detailed below..
obtained an understanding of the legal and regulatory frameworks that are applicable to the Company and
determined that the most significant are those that relate to the reporting framework (FRS 102 and the Companies
Act 20061 and the relevant tax ¢ompliance regulation in the United Kingdom.,
understood how the Company is complying with those frameworks by making enquiries of management to
understand how the Company maintains and communicates its policies and procedures in these areas,.
assessed the vulnerability of the Company's financial statements to material misstatement, including how fraud
might occur by considering the risk of management override and by assuming revenue recognition to be a fraud
risk,. and
based on this understanding our audit procedures were designed to identify non-compliance with such laws and
regulations
We assessed the susceptibility of the company's financial statements to material misstatement, induding obtaining
an understanding of how fraud might occur, by.,
Identification of related parties.,
Making enquiries of management regarding where they considered there was susceptibility to fraud, their
knowledge of actual. suspected and alleged fraud-
Considering the internal Controls in plaGe within the company to mitigate the risk of fraud and noncompliance with
laws and regulations,.
To add￿$S the risk of fraud, override of controls and non-compliance with laws and regulations, we performed
analytical procedures to identify any unusual or unexpected related paty relationships, tested joumal entries to
identity unusual transactions, investigated any significant or unusual transactions and assessed whether
judgements and assumptions made in detennining the accounting estimates were suggestive of potential bias.
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FARSET YOUTH AND COMMUNITY DEVELOPMENT LIMITED
INDEPENDENT AUDITOR'S REPORT {CONTINUED)
TO THE TRUSTEES OF FARSET YOUTH AND COMMUNITY DEVELOPMENT LIMITED
A further description of our responsibilities is available on the Financial Reporting Council's website at.. https:11
www.frc.org.uklauditorsre5ponsibilities. This description forms part of our auditor's report.
Use of our r8port
This report is made solely to the ¢ompany's members, as a body, in a¢cordance 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 them in an auditorfs report and for no other purpose. To Ihe fullest extent permitted by law,
we do not a¢¢ept 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.
Patrick M
scampbell (Senior Statutory Auditor)
for and on behalf of Miscampbell & Co
19 September 2024
Chartered Accountants
ststutory Auditor
6 Annadale Avenue
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.
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