174 TRUST
INDEPENDENT AUDITORS, REPORT
TO THE TRUSTEES OF 174TRUST
Opinion
We have audited the financial statements of 174 Trust for the year eThJed 30 September
2023 which comprise statement of fi'nancial actrvities, balance sheet, cashflow statement,
reconciliation of movements in funds, statement of lotal recognised gains and losses and
notes to the financial statements, including a summary of significant accounting policies.
The financial framework that has been applled in their preparation is applicable law and
United Kingdom Accounting Standards, including Financial Reporting Standard 102 The
Financial Reporting Standard applicable in the UK and Republic of Ireland (United
Kingdom Generally AC￿pted Accounting PractiC8).
In our opinion the financial statements
gNe a true and fair view of th8 State of Ihe Trust's affairs a8 at 30" September
2023 and of its total incoming resources and expenditure of resources, including
its Incorne and Expenditure, for the year then ended.,
Have been properly prepared in accordance with United Kingdom Generally
Accepted Accountlng Practice; and
Have been prepared in accordance with tha requirements of the Charities Act
(Northern Ireland) 2008 and the Charities (Accounts and Reports) Regulations
(Northern Ireland) 2015
Basls of Opinion
We conducted our audit In accordance with Internatlonal Standards of Auditing (UK) 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 charitable Trus( in accordance with the ethical requirements that
are relevant to our audit of the financlal statements in the UK, including the FRC'S Ethical
standard, and we have fulfilled our other ethical responsibilities in accordance with these
requlrements. We believe that the audit eVIden￿ we have obtained is sufficient and
appropriate to provide a basls for our oplnion.
Conclusions relating to golng Concern
We have nothing to report in respect of the following matters in relation to which tha ISAS
(UK) require us lo report to you were.
The trustees, use of the going concern basis of accounting in the preparation of
the financial statements is not appropriate. or
The Irustees have not disclosed in the financial statements any identlfied malerial
uncertainties that may cast significant doubt about the trusts ability to continue to
adopt the going concern basis of accounting for a period of at least twelve months
from the date when the financial statemenls are authorised for issue.
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174TRUST
INDEPENDENT AUDITORS, REPORT
TO THE TRUSTEES OF 174 TRUST
Other informatlon
The Irustees are responsible for the other infomiation. The other Information comprises
the inforrnation included in the trustees, report, other than the financial statemenls and
our auditorfs report thereon. Our opinion on the financial statements does not cover the
other Information and, ex￿pt to the ex18nt otherwise explicitly stated in our report, we do
not express any fom of assurance conclusion thereon.
In connectlon with our audit of the financial statements, our responsibility is to read the
other information and, In doing 80, consider whether the other infomiation is materially
inconsistent with the fi'nanclal statements or our knowledge obtained in the audit or
otherwise appears to b8 materially misstated. If we identify such material inconsistencies
or apparent material misstatements, we are required to determine whether there is a
material misstatement in the fsnancial statements or a material misstatement of the other
infomiation. If based on the work we have performed, we conclude that there is a material
misstatement of thls other infomiation, we are requlred to ￿port that fad.
We have nothing to report In this regard.
Matters on which we are requlred to report by exceptlon
We have nothlng to report in respect of the following matters in relation to which the
Charities (Accounts and Reports) Regulation (Northem Ireland) 2015 raquire us to rewrt
to you if, In our oplnion:
The information given in the financial statements is inconsistent in any material
respect with the trustees, report,. or
The trust has not kept adequate accounting records,. or
The financial statements are not in agreement with the accounting records and
returns; or
We hav8 not received all the infomiation and explanatlons we requlre for our
audit.
Responsibilities of trustees
The trustees are responsible for the preparation of financlal statements and for being
satisfied that they glve a true and fair view, and for such internal control as the trustees
detenmlnè is necessary to enable the preparation of finanaal statements that are free
from material misstaternent, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assesslng the trusts
ability to continue as a going concern, disclosing, as applicable, matters related to going
concern and using the going concem basls of aGGounting unless the trustees either intend
to liquidate the trust or to cease operation, or have no alternative but to do so.
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174 TRUST
INDEPENDENT AUDITORS, REPORT
TO THE TRUSTEES OF 174TRUST
Auditorfs responsibilitles for the audit of the financial statements
We have been appointed as auditor under section 65(2) of the Charlties Act (Northern
Ireland) 2008 and report in accordance with regulations made under section 66 of that
Act.
Our objectives are to obtain reasonable assuranc6 about whether the financial
statements as a whole are free from material misstatement, whether due to fraud or
error, and to issue an auditor's report that includes our opinion. Reasonable assurance
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 if, indlvidually
or in the aggregate, they could reasonably be expected to Influence the economic
decisions of users taken on the basis of these financial statements.
As part of an audit in accordance with ISAS (UK), we exercise professional judgment
and maintain professional sc8Pticlsm throughout the audit. We also..
Identify and assess the risks of materlal misstatement of the financial statements,
whether due to fraud or error, deslgn and perform audit procedures responsive to
those risks, and obtain audit evidence that is sufficient and appropriate to provide
a basis for our opinion. The risk of not detecting a materlal misstatement resulting
from fraud is hlgherthan for one resulting from error, as fraud may involve collusion,
forgery, intentional omissions, misrepresentations, or the override of intemal
control.
Obtain an understanding 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 effectlveness of the charitable company's internal
control.
Evaluate the appropriateness of accountlng pollcles used and the reasonableness
of accounting estimates and related disclosures made by the trustees.
Conclude on the approprialene88 of the trustees, use of the going concern 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 charitable company'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 financlal staternents or, if such disclosure5
are inadequate, to modify our opinion. Our conclusions are based on the audit
evidence obtained up to the date of our auditor's report.
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174TRUST
INDEPENDENT AUDITORS, REPORT
TO THE TRUSTEES OF 174TRUST
However, future events or conditions may cause the charitable company to cease
to Gontinue as a going concern.
Evaluate the overall presentation, structure and content of the flnanclal statements,
including the disclosures, and whether the financial statements represent the
underlying transactions and events in a manner that achieves fair presentation.
We cornmunlcate with those charged with governance regarding, among other
matters, the planned scope and timing of the audit and slgnlficant audit fi'ndings,
including any significant deficiencies in internal control that we identify during our audit.
Use of our report
This report is made solely to the 174 Trust tru8tee8, as a body, In accordance wlth part 4
of the Charities (Accounts and Reports) Regulations (Northem Ireland) 2015, Our audit
work has been undertaken so that we might state to the 174 Trust trustees those matters
we are required to state to thern in an auditorfs report and for no other purpose. To the
fullest extent P8rrnitted by law, we do not accept or assume responsibility to anyone other
than the 174 Trust trustees as a body, for our audit work, for this r8POrt, or for the opinions
we have fomied.
HaNey & Co Accountancy S8Nices Ltd is eligible for re-appolntment a8 auditor of the
charity by virtue of its ellgibility for appointment as auditor of a company under section
1212 of the Companies Act 2006.
Janice Blalr (Senlor Statutory Auditor)
For and on behalf of HaNey & Co Accountancy ServiGes Ltd (Statutory auditor)
5 Willowbank Road Millbrook Larne Co Antrirn BT40 2SF
31 March 2024
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