Report of the Independent Auditors to the Members of Cliftonville Community Regeneration Forum (formerly Cliftonville Community Regeneration Forum Limited) Opinion We have audited ihe financial statements of Cliftonville Cominiinity Regeneration Forum (forinerly Cliftonville Coininunity Regeneration Forum Limited) (the '¢haritable coillpany,) foi. the year ended 31 March 2024 which coinprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial stateinents, including a suininary of significant accounting policies. The financial reporting framewoi'k that has been applied in their preparation is applicable law and Uniled Kingdom Accounting Standards (Uniled Kingdom Genei'ally Accepted Accounting Practice). In our opinion the financial stateinents.. give a true and fair view of the state of the charitable coinpany's affairs as at 31 March 2024 and of its incoining resoui'¢es and application of resoui'ces, including its income and expenditure, for the year then ended; have been properly prepai'ed in accordance with United Kingdoin Generally Accepted Accounting Practice; and have been prepared in accordance with the requii'einenls of th¢ Companies Act 2006. Basis for opinion We conducted oui. audit in accordance with Inlemational Standards on Auditing (UK) (ISA5 (UK)) and applicable law. Our responsibilities under those standai-ds are furthei. described in the Auditors, responsibilities for the audit of ihe finaiicial stateinents section of our i'eport. We are independent of the charitable coinpany in accordance with the ethical requirements ihat are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled oui- other ethical i'esponsibilities in accordan¢e 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 th¢ financial stateinents, we have concluded that the trustees, use of the going concern basi5 of accounting in tlie preparation of the financial stateinents is appropriate. Based on the work we have perfonned, we have not identified any material uncertainties relating to events or conditions that, individually oi. collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve inonths fi'om when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other information The ti'ustees al'e i'esponsible for the other inforination. The otlier information coinprises the infonnation included in the Annual Repoit, other than the financial statements and oui. Report of the Jndependent Auditors thereon. Our opinion on the financial stateinents does not cover the other inforination and, except to the extent otherwise explicitly stated in oiir report, we do not express any fonn of assurance conclusion thei'eon. In connection with our audit of the financial stateinents, oui. responsibility 15 to read the other infoi'mation and, in doing so, consider whether the other inforination is inaterially inconsistent with the financial statements or our knowledge obtained in the audit or othenvise appeal's to be inaterially Inisslated. If we identify such inatei'ial inconsistencies or apparent inaterial inisstateinents, we are required to deterinine whether this gives i'ise to a inaterial misstatement in the financial slatements theinselves. If, based on the work we have perfoi'ined, we conclude that thei'e is a material Inisstaten)ent of this othei. information, we al'e i'equired to report that fact. We have nothing to report in this regard. Opinions on other matter5 prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. Ihe infoi'ination given in the Report of the Trustees for the financial year for which the financial slalements are prepared is consistent with ihe financial stateinenls. and the Repoi't of the Trustees has been prepared in accordance with applicable legal i'equireinents. 13
Report of the Independent Auditors to the Members of Cliftonville Community Regeneration Forum (formerly Cliftonville Community Regeneration Forum Limited) Matters on Ivhich we are required to report by exception In the light of the knowledge and understanding of the chai'itable ¢oinpany and it5 environment obtained in the course of the audit, we have not identified material inisstateinents in the Report of the Trustees. W¢ have nothing to I'eport in respect of the following mattel's where the Coinpanies Act 2006 requii'es us to report to you if, in oiir opinion: adequate accounting records have not been kept or returns adequate for our audit have not been received froin branches not visited by us; or the financial statements are not in agreeinent with the accounting records and returns. or certain disclosures of Irustees, reiniineration specified by law are not made. or we have not received all the inforination and explanations we require for our audit. Responsibilities of trustees As explained Inoi'e fully in the Stateinent of Tru5tees' Responsibilities, the Irustees (who are also the directors of the charitable company foi. the purposes of ¢ompany law) are responsible for the preparation of the financial statements and for being satisfied that they give a triie and fair view, and for such internal control as the ti'ustees deterinine is necessary to enable the preparation of financial statements that are free from inaterial misstateinent, whether due to fraud or error. In preparing the financial statements, the trustees al'e i'esponsible for assessing the charitable coinpany's ability to continiie as a going concei'n, disclosing, as applicable, matters I'elated to going concern and using the going Concern basis of accounting unless the trustees either inlend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do 50. Oui. responsibilities for the audit of the flnancial statements Our objectives al'e to obtain i'easonable assurance about whether the financial stateinents as a whole are free from Inaterial Inisstatement, whether due to fraud oi. eri'oi., and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assui'an¢e, but is not a guarantee that an audit condiicted in accoi'dance with ISAS (UK) will always detect a inatei'ial inisstatement when il exists. Misstateinents can arise froin fraud or error and are considered inatei'ial if, individually or in the aggi'egate, they could reasonably be expected lo influence the econoinic decisions of users taken on the basis of these financial stateinents. The extent to which our procedui'es are capable of detecting irregularities, including fraud is detailed below: In assessing and detecting irregularities such as fraud and non-coinplaince with law5 and regulations we considered the following.. the inattei's discussed ainong the aiidit engageinent teain and any other relevant professionals regarding how and whei'e fraud Inight occiir in the finaiicial statements and any potential indicatoi's of fraud. the natui'e of the industry and any laws and I'egulalions applicable to the organisation and the induslry. the organisation's own assessinent of the risk of fraud and other irregularities. organisation's policies and procedures in relation to: how they identify and coinply with all i'elevani laws and i'egulations and whethei. they are aware of any non-compliance how they detect and respond to risks of fraud and their knowledge of any actual, suspected oi. alleged control environinent within the coinpany and how this Initigates risks of fraud and instances of non- compliance with laws and iegulations. As a result of these pi'ocedures, we coiisidered the oppoitunities and incentives that iiiay exist within the organisation foi. fi?ud and identifted the gi'eatest potential for fi'aud in relation to asset valuations. In coininon with all audits undei. ISAS (UK), we are also i'equired to pei'form specific procedures to respond to the risk of inanageinent oveiyide. 14
Report of the Independent Auditors to the Members of Cliftonville Community Regeneration Forum (formerly Cliftonville Community Regeneration Forum Limited) In response to the risk of irregiilarities and non-compliance with laws and regulalions, we designed procedures which included, but were not liinited to: ensu¥ing the engageinent teain had the appropriate knowledge and experlise 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 cai'i'ied out with a level of pi'ofessional scepticism. agreeing the financial statement disclosures to underlying supporting docuinentation to assess coinpliance with relevant laws and regulations. enquii'ing of manageinent concerns of actual and potential litigation and claims; performing analytical procedures to identify any unusual oi. unexpected I'elationships that may indicate risks of material Inisstateinent diie to fraud. reviewing correspondence with HMRC and other relevant regulators and the coinpany's legal advisors. in addressing the risk of fraud through manageinent override of controls, testing the appropriateness ofjouimal entries and other adjustments; assessing whetlier the judgements inade in inaking accounting estiiiiates al'e indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the nonnal course of business. We also coininunicated relevant identified laws and regulations and potential fraud risks to all engagement team Inembers and reinained alert to any indications of fraud or noncompliance with laws and regulations thi'oughout the audit. There are inherent liinitations in our audit procedures described above. The more reinoved that laws and regulations are from financial transactions, tlie less likely it is that we would become aware of non-compliance. Auditing standai'ds also limit the audit procedures required to identify non-coinpliance with laws and i'egulations to enquiry of the trustees and other manageinent and the inspection of regulatory and legal correspondence, if any. Matei'ial lnisstateientS that arise due to fraud can be hai'der to delect than those that arise froin error as they may involve deliberate concealment or collusion. A furthei. description of our responsibilities for the audit of the financial stateinents is located on the Financial Reporting Council's website at www.fi'c.oi'g.uklauditorsresponsibilitie5. This description fonns part of our Report of the Independent Auditors. Use of our report This repoit is inade solely to ihe chai'itable compaiiy's meinbers, as a body, in accoi-dance with Chapter 3 of Part 16 of the Companies Act 2006. Oui. audit woi-k has been undertaken so that we might state to the charitable coinpany's inembers those inatters we are required to state to them in an auditors, report and foi. no other piirpose. To the fullest extent permitted by law, we do not accept or assuine responsibility to anyone other than the chai'ilable coinpany and the charitable con)pany's ineinbers as a body, for our audit work, for this report, oi. for the opinions we have foiined. Mr Seainus McLernon (Senior Statutory Auditor) for and on behalf of M.B.McGrady & Co Chartered Aceountants Statutoiy Auditors Suite 2B Cadogan House 322 Lisburn Road Belfast Co. Anti'im BT9 6GH 14 January 2025 15