INDEPENDENT AUDITOR'S REPORT to the Members of Ulster Historical Foundation Report on the audlt of the flnancial Statements Opinion We have audited the charity financial statements of Ulster Historical Foundation I'lhe charity'l for the financial year ended 31 March 2023 which comprise the Statement of Financial Aclivilies, the Balance Sheet and notes to the financial statements. including the summary of significant accounting policie5 set out in note 2. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland and Accounting and Reporting by Charities,, Statement of Recommended Practice applicable lo charili8s preparing their accounts in accordan with FRS 102. In our opinion. when reporting in accordance with a fair presentation framework the financial statements.. give a true and fair view of the slate of the charity's affairs as at 31 March 2023 and of ils deficit for the financial year then &nded', have been properly prepared in accordance with United Kingdom Generally A¢¢epled Accounting Praclic8', and have beèn prepared in accordance with the requirements of the Charities Act (Northern Ireland) 2008. 8a818 for oplnlon We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with ethical requirements that are relevant to our audit of 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. W8 believe that th8 audit 6vidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Conclu8lon8 relatlng to golng ¢onc8rn In auditing the financial slatem8nls, we have concluded that the Iruslees, use of thè going concern basis of aCntIng in the preparallon of the financial stat8ment8 is appropriate. Based on the work we have performed, we have not identified any material uncertgintigs relating to èv8nls or conditions that, individually or collectively, may cast significant doubt on the charity's ability lo continue as a going concern for 8 period of at least e1ve months from the date when th& financial slalements are authorised for issue. Our responsibilities and thè responsibilities of the trustees with respect lo going concern are describ8d in thé relevgnt sections of this report. Other Inforniatlon Tho other information comprises the information Included in the annual report other than the financial statèments end our Auditor's Report thereon. The trustees are responsible for the other information contained within the annual r6POrt. Our opinion on the financial statements does not cover the other information and. except lo the exlenl otherwi38 explicitly stated in our report, we do not express any form of assurance conclusion Ihereon. Our responsibility is to read th8 Other information and, in doing so, consider whèther the other information Is matèrially inconsistent with the financial statements, or our knowledge obtained in th& course of the audit, or otherwise appears to be materially misslaled. If we identify such material inconsistencies or apparent material misstatements, w6 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 misslalement of this other information, we ar8 required to report that f8ct. Vve have nothing to report in this r8gard. Oplnlon on other matter prescrlbed by tho Companle8 Act 2006 In our opinion. based on the work undertaken in the course of the audit.. the information given in the Trustee5' Report for the financial year for which the financial statements are prepared is ¢onsistent with the financial statements., and the Trustees, Report has been prepared in accordance with applicable legal requirements. 13
INDEPENDENT AUDITOR'S REPORT to the Members of Ulster Historical Foundation Mattors on whl¢h we are requlred to report by ex¢eptlon In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit. we have not identified material misslatemenls in the Trustees, Report. We have nothing lo report in respect of the following matters where the Charities Act INorthern Ireland) 2008 requires us to report to you if, in our opinion.. adequate accounting records have not been kept.. or the financial statements are not in agreement with the accounting records and returns., or certain disclosures of trustees, remuneration specified by law are not rnade., or the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, 8xemption in pr8paring the Trustees, Annual Report. Rospon$lbllltle8 of trustee8 for the flnanclal 8tatements As explained more fully in the Slalement of Trustees, Responsibilities sel out on page 10. th6 Iruslees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable th& preparation of financial statements that arè fr88 from material misstatement, whether due to fraud or error. In preparing the financial slalemenls. the trusl8es ar6 rosponsibl6 for assessing the charity's ability lo continue as a going concern, disclosing, as applicable. mallers related to going concern and using the going concern basis of accounting unless management either intends to liquidgle the charity or lo ceas8 operations, or has no realistic alternative but to do so. Audltorf8 r•$ponslbllltlos for the audlt ol tho flnanclal statomonts Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due lo fraud or error, and lo issue an Auditor's Report that includes our opinion. Reasonable assuranc8 is a high level of assurance, bul is not a guarantee that an audit conducted in accordancé with ISAS IUKI will always delecl a material misststemenl when it exists. Misslalements can arise from fraud or &rror and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic dgcisions of users lak6n on thè basis of thès8 financial statèments. Irregularities, including fraud, are ingt8nces of non-compliance with laws and regulations. Wé dèslgn procedures in line with our responsibilities, outlined above, lo detect material misslalemenls in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities. including fraud is detailed below.. Furthor Informatlon regardlng the 8¢0pe of our respon$lbllltle8 as audltor As part ol an audit in accordance with ISAS IUKI, we exercise profossional judgement and maintsin professional sceplicism throughout thè audit. We also.. Identify and assess the risks of material misstatement of the financial slalemenls, whethèr du6 lo fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidencè that Is sufficienl and appropriat& lo provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error. as fraud may involve collusion, forgery, intentional omission5, misrepresentations, or the override of internal control. Obtain an understanding of internal control rel8vant lo the audit in order lo design audit procedures that ar8 appropriate in the circumstances, bul not for the purpose of expressing an opinion on the effectiveness of the charity's internal control. Evaluate the appropriateness ol accounting policies used and the Teasonab16n6ss of accounting estimates and related disclosures made by trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and, bas6d on th8 audit evidence obtained, whether a material uncertainly exists related lo events or conditions that may casl significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists. we are required to draw attention in our Auditor's Report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up lo the dale of our Auditor's Report. However. future events or conditions may cause the charity lo cease to continue as a going concern. Evaluate the overall presontalion, structure and content of the financial statements, including the disclosures. and whether the financial slalements represent the underlying transactions and ev8nls in a manner that achieves fair presentation. 14
INDEPENDENT AUDITOR'S REPORT to the Members of Ulster Historical Foundation We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Mr Robert Barr MULDOON & CO Chartered Accounlanls & Slatulory Auditors 16 Mount Charl&s Belfast BT7 1NZ Northern Ireland 15