Report of the Independent Auditors to the Members of Cliftonvllle Community Regeneration Forum Opinlon We have audited the financial statements of Cliftonville Community Regeneration Forum (the 'charitable company'] for tlie year ended 31 Mai-ch 2023 which comprise tlie Statement of Financial Activities, the Balance Sheet, the CasE] Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financi21 reporting franiework that has been applied in tlieir preparation is applicable law and United Kingdom Accounting Standards (United Kingdom GenerallyAccepted Accounting Practice). In our apinion the financial statements: give a true and fair view of the state of the charitable company's affairs as at 31 March 2023 and of its incoming resources and application of resoui'ces, includirig its income and expenditure, foi- the yeai" then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,- and have been prepared in accordance with the requiren]ents of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Audiiing (UK) (ISAS (UK)) and applicable law. Our responsibilities ullder those standards are further described in the Aiiditors, responsibilities foi. the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requii'enients that are relevant to our audit of the financial staiements in the Ul<, including tlie FRC'S Ethical Standard, and we have fulfilled our otlier ethical responsibilities Én accordance with these I'equirements. We believe that the audit evidence we have obtained is siifficient and appropi'iate to provide a basis for our opinion. Conclusions relating to going concern In aiiditing the firi¢incial statemcnt.s, we have concliided that the trustees, use of the going concern basss of acLounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we liave not identified any rnateiial uncertainties i"elating to events or conditions that, individually or collectively, may cast significant doubt on the chai'itable company's ability to continiie as a going concern for a pei'iod of at least twelve months from when the financial statements al'e authorised for issue. Our respon8il)illtie.8 and the responsibllltles ol the trustees with respect to going concei'n are described In the relevant sections of this report. Other informatlon The trustees are i'esponsible for tlie other information. The other infoi'matlon comprises the informatlon Included in the Annual Report, other than the financial stalenients and our Reportofthe IndependentAuditors thereon. Our opinion on the financial statements does not cover the other inforniation and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereotL. In connection with our audit of the financial statements, our responsibility is to read the other Information and, in doing so, consider whether the other infoi-mation is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to deteE'niine whether this gives i'ise 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. Oplnions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the fLnancial statements; and the Report ofthe Trustees has been prepared in accordance with applicable legal requirements, 12
Report of the Independent Auditors to the Members of Cliftonville Community Regeneration Forum Mattel's on wliÉch we are Tequired to reportby exception In the light of tlie knowledge 2nd undei-standing of the charitable company and its environment obtained in the coui'se oFthe audit, we have not identÈfied material misstatements in the Reportof the Trustees. We have nothing to repoi't in respect of the followingmatters where the CompaThies Act 2006 requires us to repoi't to you if, in oiii" opinion: adeqiiate accounting records have not been kept or retui'ns adequale foi.our audit have not been I'eceived from branches not visited by us,. or tlie financial statements are not in agreement with the accounting records and i'eturns: or certain disclosul'es of trustees, remuneration specified by law are not made,. or we have not received all the information and explanaUon5 we require forour audiL Responsibilities of trustees As explaiiied mol'e Fully in the Statement of Trustees. Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) arc responsible for the prepai'ation of the financial statements and for being satisfied that they give a true and fair view, and for such intei'nal conti'ol as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatemenL wliether due to fi'aud or errol.. In pi'epai'ing the financial statements, the ti'ustees are responsible foi. assessing the charitable company's ability to continue as a going concei'n, disclosing, as applicable, mattel's related to going concern and using the going concern basis of accounting unless tlie trustees either intend to liquidate the charitable company or to cease operations, oi. have no realistic altei'native but to do so, 13
Report of the IndependentAuditors to the Members of Cliftonville Community Regeneration Forum Our responsibilities for the audÈt of the financial statements Oui. objectives are to obtain reasonable assurance about whether the financial statements as a whole al'e free from material mi55tatement, whether due to fraud or error, and to issue a Report of the IndependentAuditors that includes our opinion. Reasonable assiirance is a high level of assurance. but Ès not a guaranfee that an audit conducted in accordance with ISAS (UK) will always detect a material Tnisstatement 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 statemeiits. In assessing and detecting ii'regularities such as fraud and non-complaince with laws and regulations we considered the following,. the matters discussed among the audit engagement teani and any other relevant professionals i'egai'ding how and where fraud might occur in the financial statements and any potential indicators offraud,, the nature ofthe industry and any laws and regulations applicable to the organisation and the industry; the organisation's own assessment of the risk of fi'aud and other irregularitie5- organisation's policies and procedures in relation to: how they identify and comply with all relevant laws and regulations and whether they al'e aware of any non-compliance how they detect 3nd repond to i'isks of fraud and their knowledge of any actual. suspected or alleged fraud; control envii'onment within the company and how this mitigates risks offraud and instances of non-compliaiice with laws and regulations; As a result of these procedures. we considered the opportunities and incentives that may exist within the organisation for fraud and identifled the greatest potential for fraud in relation to asset valiiations. In common with all audits under ISAS (UIQ, we al'e also required to perfornj specific procedures to respond to the risk of management override. In response to the I'lsk of Irregularities and non-compliance with laws and regulations, we designed procedui'es which included, butwere not limited to: ensuring the engagenient team had the appropriate knowledge and expertise in order to be able to identifiy and recognise any instances of fraud or non-coinpliance with laws and regulations; ensui'ing the audit was carried out with a level OF professional scepticisiii; agi'eeing the financial statement disclosures to undei'lying supporting documentation to assess compliance with relevant laws and regulations,. enquii'ing of managenient concerns ofactual and potential litigation and claims- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud,. reviewing coi'i"espondence with HM RC and other iElevant regulators and the company's legal advisors. in addressing the risk of fraud through management override ofcontrols, testing the appropriateness of joui'nal entries and other adjustments; assessing whether rhe judgements made in making accounting estimates are indicative of a potential bias,. and evaluating the business rationale of any significant transactions that are unusual or outside the normal course ofbusiness. We also communicated relevant identified laws 2nd regiilations and potential fraud risks to all engagement team members and remained alert to any indications OF fraud or noncompliance with laws and regulations throughoul the audit. 14
Report of the IndependentAuditors to the Member5 of Cliftonville Communlty Regeneration Forum There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial tr3ns2Ctions, the less likely it is tliat we would become aware ol llon-compliance. Auditing standards also limit the audit procedures required to identify noJ)-compliance with laws and i'egulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any. Matei-ial misstatements that arise due to fraud can be harder to detect than those that ai'ise fiY)m error as they may involve delibei.ate concealment or collusion. A further description of our responsibilities for the audit of the financial statenients is located on the financial Repoi'ting Council's website at www.fi'c.org.uk/auditorsresponsibilities. This description forms pai't of our Report of the IndependentAuditors. Use of our report This report is made solely to ihe cliaritable conipany's members. as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit woi'k has been undertaken so that we niight state to the charitable company's membei's those matters we are i"equii-ed to state to them in an aiiditors, report and for no othei. pui'pose. To the fullest extent permitted by law, we do not accept or assume i'esponsibility to anyone othei" tha the charitable company and the charitable company's members as a body, for oui. audit work, for this i'eport, oi. foi.the opinions we have formed. Mr Seamiis McLei-iion (Senior Statutory Aiiditor) for and on behalfof M,B.McGI'ady & Co cliartei.ed Accountants Statutory Auditor.$ Siiite 2B Cadogan House 322 Llsburn Road Belfast Co. Anti'im BT9 6GH 16 November 2023 15