MCGROARTY MCCAFFERTY & COMPANY Accountants and Re stered Auditors l)IrethJrE PATRICK M¢CAfFERfY. Chanettd PATRICK McGROARTY.Chffj¢r¢d C¢rfified 2 CARLISLE TERRAC DERRY BT48 6JX TclcplMJne.' (028) 71263444 Ko.I'. 1048) 71263444 E.mail.' info@mcgroatymcotTerty.com The Dlrectors Creggan Pre-school & Training Trust Ltd 13A Cromore Gardens Creggan Derry BT48 9TF Dear Directors Following our recent meekn'ng we feel Ihal il would be uselul to sel out the 6ervSces whlch we agreed to provlde as your accountants, To enable us to perforni these services we wlll requlre you to provlde us wilh all relevant inforniation. Accountlng seNIGe¥ Our re8pon8lblllllo8 As the company is exempt from Ihe requiwement for any exlemo13crullny, we have slalutory responslbilities lo Ihe company at all. Our only responslbllltles adse from those speclfThlly agreed upon between us in respect of olher professional 8eNlces. You have asked us to asslst you In Ihe preparallon of the financial ststemenls. We will compile Ihe annuai financlal slalemen15 for your approval based on Ihe a¢untIng records malnlalned by you and the infomation and explanallons glven lo us by you. We shall plan ¢)ur work on the basis thal no report Is requlred by slatute or regulallon for Ihe year, unle86 you Infonn us In wrillng lo the contrary. In carrylng out our engagement we will make enqulries ol management and underiake any procedures that we judge approprfate bul are under no obligati¢)n lo perforni procedures that may be required for assurance engagements such as audlls, Sndependenl examinallons or re¥lew6. You have advised us Ihat the company Is exempt from an audll of the financlal slatements. We will not cary ¢Jut any wofk to determine whether or not the company Is enlilled to audlt exemption. Howevor, ShOd our work indicale Ihat Ihe company Is not entilled to the exemption, we will infom) you of thls. Our vKirk will r1 be an audil of the financlal statements In accordance wlth Auditing Slandards. Consequently, our wlll not provide any assurance Ihat the accounting iecords or the finandal statements are free from material misstalement. whether caused by fraud, olhef irregularlties or err ar cannot be relied on lo identify weaknesses In inlemal controls. sIe we have not carried oul an audil, nor confirmed in arry way Ihe accuracy or reasonableness of the accounling records malntained by the company. we are unable to provide any assurance as lo whether the financial slalement5 that we prepare frorn Ihose recowds present a true and fair view. We have a prolesslonal duty to compik firn¢la1 statements Ihat conforni wilh generally accepled accounting prlndples from Ihe accounts'ng records and informallon and exp18nalions given Io us. FurthemK)re. as dlredors, you have a duty to prepare financial statemen15 that comply with the Companies Acl 2006 and applicable accounting standards. Where we identify that the anCIal statements do not conlomi to accepted accountlng prlnciples or if the accounling policies adopted are not immediately apparent Ihis will need to be disdosed In the financtal slalements. RcgISrcd by Inslilul¢ of Chllrt¢r Arfourtthnts in IreloNI corry on audit work in Republic ofirelllnd and UK, AuthOrid io carry on inv¢sthKnl busiSS in the Republic ofireland by the ICAI.
We have a professional responsibilty not to allow cur name to be assocTaled with finanaal slalements which may be mlsleading. Therefore. although we are not required to search for such matters, s1)0d we become aware, for any reason, that the financial stalements may be misl8ading. we will discuss the matter with you with a view lo agreeing appropriate adluslments ar)dlor disclosures in the financial stalements. In circumslances where adjuslmenls andlor dlsclosures that we consider appropriate are not made or where we are nol provided with approwiale information, and as a result we conslder Ihat the financial slalements are misleading, we will wilhdraw from the engagement. As part of our normal procedures, we may request you to provide wrilten confinnalion of any information or explanations given by you orally during the course of our work. Proceeds of Clime Act 2002 and Money Laundering Regulalbons 2007 In common with all accountancy and legal practices, we are requlred by Prixeeds of Crime Act 2002 and Ihe Money Laundering Regulatlons 2007 10.. have due d111gen procedures for Ihe Identif110n of all (Jients., maintain approprlale records of evidence to supp¢Jrt customer due dlligence,. and report in accordance with the relevant legislation and ragulalions. Your respon8lblllll•• 1.10 You ale responsible for ensurlng Ihat lh8 company mainlains proper accounting records and for preparing accounts whlch glve a twe and fair view and which have be prepared In accordance wlth the Companies Acl 2008. 1.11 In preparing the financial slalements, you are requlred to,, select sullable accounting policies and then apply Ihem c¢>nslslenlly', make judgemenls and eslimales Ihal are ieasonable and prudent: and prepare the financlal slalements on the going concem basls unless It is Inapproprlate lo pffjsume that the company will continue in buslness. 1.12 You are responsible for keeping woper accounling record$ whSch dl8dose with reasonable accuracy at any lime the financial p05ilion of the company and for ensuring that Ihe financial slatemenls comply with the Companles Act 2006. You are also responsible for safeguafdlng the assets of the company and hence for laking reasonable steps for the prevenlion and detection of fraud and other Irregularilles. 1.13 You are responslble for ensurlng Ihal the company complies wilh the laws and regulallons applicable to its activilies. and for establlshlng arrangemen15 designed to prevent any noncompliance with laws and regulation5 and to delecl any that occur. 1.14 You have undertaken to make avallable lo u8, as and when requlred, all Ihe company's accounling records and relaled financial informalion, including minutes of fflanagemenl rneetings necessary for the compilallon ol the accounts. You will make full dlsclosure to us ol all relevant information. Form of the accounlanls, report 1,15 We shall reporl to Ihe eoard of Dir8Ctor5, wilh any modificalions Ihal we conslder may be necessary, thal in accordance with this engagement lettei and In order to assist you lo fulfil your responsibililies. we have compiled, wilhoul carrying oul an audll. the finandal stalemenls from the accounting recofds and from the Infomialion and explanations Supplied to us. Llmltatlon of Ilabllity We will perform the engagement with reasonable skill and care. The tolal 8ggregale liability to the company and the 808Td of Directors. as a body, ol whatever nature, whelher in contract, tort or otherwise, of McGroarty Mccafferty & Company Lld, for any losses whatsoever and howsoever USed 8rl$ing from or in any way connected wilh thi5 engagement shall not exceed the agreed fee. You agree lo hold hamiless and Indemnify us, our partners, and staff againsl any mlsrepresentation {intention81 uninlentional) supplled to us orally or In wrrtlng in connection with Ihis agreement.
Other servlce8 Accounting We shall.. prepare the accoun15 based on accounting records maintained by yourselves. You have agreed Ihat your slaff will be responsible for.. keeping the record of receipts and payments; reconciling the balances monlhly with the bank slalements., keeping posted and balanced the purchase and sales ledgers: iv preparing a detailed lisl of ledger balances: preparing delails of Ihe annual Gtocktaklng 8uilably PliGed arHI extended. provide assislance to Ihe company 5ecielary by preparlng and lodging relums wilh lh8 Registrar of Companies., invesligale Irregularllles and fraud upon receiving specific inslructions. Fae• Our lee5 are computed on Ihe basis of the tlme spenl on your affairs by the partners and our slaff and on the levels of skill and responslblllty involved. Unl8SS Othen¥ise agreed. our lee$ wlll be bllled at appropriale inteal$ during ihe course of Ihè year and will be due on presenlallon. If il is necessary lo carry out work outside Ihe responsibililies outlined In thls letter It wlll Involve additional lees. Accordingly we vmuld like lo point out that il is In your Inte$1$ to ensure Ihat your records etc., are completed lo the agreed stage. In¥oices are payable in full before within 30 days ol the invoice dat• R•tentlon of and accejs ts> reGord• During the course of our Work we will collect inlormalion from you and others acling on your behalf and will retum any original documents lo you lollowing the prapaialion ol your accounts and retums. Whilsl certain docurnents may legally belIg lo you, we Inlend lo de51roy correspondence and other papers that we sloTe which are More than seven years old, other than documents which we consider lo be of continuing significance. If you requlre felenlion of any document you must notify us of that fact in writing. Appllcabl• law Thls engagement letter shall be govemed by, and construed In accordan wilh, English l Northem Irlsh law. The Courts ol England l Northern Ireland shall have exclusive jurisdiction in relation lo any claim, dispute or difference conceming the engagemenl letter and any matter arising from it. Each paty irrevocably waNes any right il may have lo objecl lo an action being brought in those Courts. lo dalm that the action ha5 been brought in an inconvenient forum, or lo claim that those Courts do nol have jurisdlcllon. Persons who awe nol party lo this agreement shall have no righ15 under the Conlracls (Rlghls of Third Parties) Act 1999 lo enforce any temi of Ihls agreement. This clause does not affect any right or remedy of any person which exists or is avallable olherwise Ihan pursuant to that Act. Electronlc communlcatlon Intemet communications are capable of data comjption and therefore we do nol accepl any responsibillty for changes made to such communications after their despatch. It fflay therefore be inappropriate lo rely on advice conlalned in an eamail withoul oblaining writlen c0nfimian of it. We do
not a¢p1 responsibillty for any errors or problems that may arise through the use of inlemet communi¢ati¢Jn and all rlsks connected with sending commercially sensitive infonnalion relating to your business are bome by you. If you do not agree to accept Ihis risk, you should notify us in wriling Ihat e- mail is nol an arxeplable means of communication. It is Ihe responsibility of the lPlent lo rry out a vlrus check on any attachments weNed. Dats Protection Act 1998 We may oblain. use. proce55 and disclose personal data about you In order that we may dlscharge the services agreed under thi5 engagement letter, and lor other relaled purposes induding updating and enhancing Glient rerds. analysi5 for managemenl purposes and statulory returns. crime prevention and legal and regulalory compliance. You have a right of access, under data protection legislation, lo Ihe personal data Ihat we hold about you. For the purposes ol the Data Protection Act 1998, the Data Controller tn relalion to personal data supplled about you Is Palrfck McGroaty. External revlew We are subject lo external review by indeper¥Jenl qualified accounlanis. Accordingly our clienl file5 can be reviewed by an external reviewer who will be subjecl to a confidenlialty agreement. 10 Quallty of garvlce We alm lo provide you with a fully satlsfaclory servlce and Patrlck Mccaffety as engagement parfner will 8eek to ensufe Ihat thls is so. If, however, you are unable to deal with any difficulty through him and his te8m please contact Palrlck McGroarty. We undertake lo look into any complalnl carefully and promptly and to do all we c2n to explain the position lo you. If we (lo nol answer your complalnl to your salisfaction you may of course take up the matter wllh Ihe ICAI by whom we are regulated. 11 Agreement of terms 11.1 The lemis set oul in this letter shall take effect immediately upon your countersigning Ihis letter and reluming it to us or upon the commencemenl of our work. These lemis will also apply to any malter dealt wllh In re8pecl of periods prior lo the date of this lelter. 11.3 Once il has been agreed, thls letlef will iemaln effectlve until It Is replaced. We shall be gralelui If you could confirm in writing your agreement to these lemis by signing and ralurning the encl¢)sed copy of th15 lelter, or lel us know if they are not in accordance with your understanding ol our lerms of engagement. Yourn lalthfully McGroarty afferty & Limi We agree I e lemis of this klter Signed. or and on be Creggan Pr&School & Training Trust Ltd Dale U-4-25 IIA7 rt Position