Brownlow Limited Company Limited by Guarantee Independent Audltorfs Report to the Members of Brownlow Limited Year ended 31 December 2022 Opinion We have audited the financial statements of Brownlow Limite(l ( 'charity) for the year ended 31 Dember2O22 which comprise the statement of financial activities (induding income and expenditure account), statement of financial position, statement of cash flows and the related notes, including a summary of signifKant accounting policies. The financial reportlng framework that has been applied in their preparation is applicable and United Kingdom Accounting Stsndards, Induding FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accx)unting Practice). In our opinion the financial statements: give a true and fair view of the state of the charitys affairs as at 31 December 2022 and of its incoming resources and application of resources, including ts income and expenditure, for the year then ended; have been properly prepared in accordance with United lfjngdom Generally Accepted Accounting praCe. have been prepared in accordance ¥th the requirements of the Companies Act 2006 and the Charities Act (Northern IrekrKI) 2008. Basis for oplnlon 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 auditorfs responsibilities for the audit of the financial statements section of our reporL We are independent of the charity in accordance wsth the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilted our other ethal responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is SLrfficient and appropriate to provide a basis for our opinion. Concluslons rolatlng to going concern 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 perfomied, we have not identified any material Unrtaine$ relating to events or conditions tha( individually or collectively, may cast signitsnt doubt on the charity's ability to continue as a going concem for a period of at least twelve months frorn 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 seth'ons of this report.
Brownlow Limited Company Llmited by Guarantee Independent Audito8 Report to the Members of Brownlow Limitsd (witlnued) Year ended 31 December 2022 other Infonnallon The other infomiation comprises the infomalion induded in the annual report, other than the financial statements and our auditoffs report thereon. The trustees are PonSible for the other infomiation. Our opinion on the finanaal statements does not cover the other inf0mtIOn and, except to the extent otherwise explicitly stated in our repor[ we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other infomiation and, in doing so, c4)nsider whether the other information is materially inconsistent with the financial statements or our knowkdge obtsined in the audit or otheThvise appears to be materially misstated. If we identÈfy such material inconsistencies or apparent material misststements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other infomation. If, based on the work we have perfornied, we conclude that there is a material misstatement of this other infomiation, we are required to report that fact We have nothing to report in this regard. Opinions on other mattÉrs prescrfbad by the Companles Act 2006 In our opinion, based on the work urKlertaken in the urse of the audit the infomiation given in the trustees. report for the financial year for which the financial statements are prepared is consistent with the financial statements; and the trustees, report has been prepared in accordarKe with applicable legal requirements. Matters on whlch we are requlred to report by exceptlon In the light of the knowledge and understandlng of the charity and Its environment obtained in the course of the audit, we have not identified material misststements in the trustees, report We have nothlng to report in respect of the following matters in rektion to which the Companies Act 2006 and the Charities Act (Northem Ireland) 2008 requires us to report to you if, in our opinion: adequate accounting records have rK*t bn kep( or retums adequate for our audit have not been received from branches not visited by us: or the financial statements are not in agreement with the acxounting records and returns; or certain disclosures of trustees, remuneration speofied by law are not made; or we have not received all the informalion and explanalions we require for our audiL
Brownlow Limited Company Limited by Guarantse Independent AUdit0S Report to the Members of Brownlow Limited (conllnued) Year ended 31 December 2022 Responslbllltles of tte@S A8 explained rnore fully in the trustees, responsibilities statemenl, ts trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they gNe 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 misstatemenL whether due to fraud or error. In preparing the financial statements, the trustees are responsible for a&sessirvJ 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 liquidate the charity or to cease operations. or have no realistic altemative but to do so. Audltorfs responslbllliles for the audlt of the financlal statements Our objectives are to obtain reasonable assurance about whether the financlal statements as a whole are free from mateiial misstaternen( whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assuran 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 rf, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basÉs of these financial statements. Irregularsties. including fraud. are instances of non-compliance with laws and regulations. We desKJn procedures in line with our responsibilrties. outlined above. to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting Irregularities. including fraud is detailed bebw: vve iuenifftea areas of laws ana regulauons that cou reasonaw De expected to have a materfal effect on the financial ststements and discussed the policies and procedures regarding compliance. Specific areas considered were as follows: Enquiring with management and others to gain an understanding of the organisation itself induding operations. financial reporting and known fraud or error. Evaluating and understanding the intemal control system. Performing analytical procedures as expected or unexpected variances in account balances or classes of transactions appear. Testing documentation supporttng account balances or dasses of transactions. Owing to the inherent limitatiS of an audit, there is an unavoidable risk that we may not have detected all irregularities including those leading to material misstatements in the financial statements or non-complian with regulation, even though we have properly planned and perfoed our audit in accordance with auditing standards. This risk increases the more that compliance wtth a law or regulation is removed from the events and transactrons reflected in the financial ststements, as we will be less likety to become aware of instan5 of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error. as fraud involves intentional concealmen{ forgery, collusion, omission or misrepresentation. A further descrlptton of our responsibilities is available on the Financial Reporting Councifs webslte at V*.frC.Org.UKIaudlt0rsreSponslb1llties. This description foms part of our auditorfs report.
Brownlow Limited Company Limitsd by Guarantee Independent Audltorfs Report to the Members of Brownlow Limited (contlnued) Year ended 31 December 2022 As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain professional scepts'cism Ihroughout the audiL We also: Identify and assess the risks of material misststement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit eviden that is sufficient and appropriate to provide a basis for our 0niOn. The risk of not deteGting a material misststement resutting from fraud is higher than for one resulkn'ng from error, as fraud may involve collusion. forgery. intenlional omissions. misrepresentations, or the override of intemal control. Obtain an understsnding of intemal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effetheness of the internal control. Evaluate the appropriateness of accounling policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Condude on the appropriateness of the trustees. use of the going coneem basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charivs ability to continue as a going concem. If we conclude that a material UnrtaInty exists, we are required to draw attention in our auditorfs report to the related disdosures in the financial ststements or, if such disclosures are inadequate, to modfy our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditorfs report However, future events or conditions may cause the charity to cease to continue as a going concem. Evaluate the overall presentation. stth and content of the financial statements, induding the disdosures, and %thether the financial statements represent the underlying transactions and events in a manner that achieves fair presentsbon. 25-
Brownlow Limited Company Limited by Guarantea Independent Auditorf8 Report to the Members of Brownlow Limited (IdnUe) Year ended 31 December 2022 We communicate with those charged with govemance regarding, among other matters, the planned scope and timing of the audit and significant audit findings. including any svjnificant deficiencies in intemal control that we identify during our audiL Use ol our report This report is made solety to the charitys members. as a body, in accordance section 65 of the Charities Act (Northern Ireland) 2008. Our audit work has been undertaken so that we might state to the chantys members those matters we are required to state to them in an audrtofs report and for no other purpose. To the fullest extent pemiitted by law, we do not apt or assume responsibility to anyone other than the charity and the charitys members as a body, for our audit work, for this report, or for the opinions we have fomied. James Casey (Senior Statutory Auditor) For and on behalf of Henry Murray & Company Ltd. Chartered Accountants & Statutory Auditor 23 Church Pla, Lurgan, Co. Annagh. N. Ireland BT66 6EY 26 September 2023 26-