2025-09-30-annual-return - 174 Trust

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174 TRUST

INDEPENDENT AUDITORS’ REPORT

TO THE TRUSTEES OF 174 TRUST

Opinion

We have audited the financial statements of 174 Trust for the year ended 30 September 2025 which comprise statement of financial activities, balance sheet, cashflow statement, reconciliation of movements in funds, statement of total recognised gains and losses and notes to the financial statements, including a summary of significant accounting policies. The financial framework that has been applied 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 Accepted Accounting Practice).

In our opinion the financial statements

give a true and fair view of the state of the Trust’s affairs as at 30" September
2025 and of its total incoming resources and expenditure of resources, including its Income and Expenditure, for the year then ended;
Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- Have been prepared in accordance with the requirements of the Charities Act (Northern Ireland) 2008 and the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015

Basis of Opinion

We conducted our audit in accordance with International 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 Trust, in accordance with 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 fulfilled our other ethical responsibilities in accordance 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 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 performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Trust’s ability to continue as a going concern for a period of at least twelve months from 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.

174 TRUST

INDEPENDENT AUDITORS’ REPORT

TO THE TRUSTEES OF 174 TRUST

Other information

The other information comprises the information included in the trustees’ report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of our audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we 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 misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Trust and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulation (Northern Ireland) 2015 require us to report to you if, in our opinion:

The trust has not kept adequate accounting records; or
The financial statements are not in agreement with the accounting records and returns; or
- Certain disclosures of trustee’s remuneration specified by law are not made; or - We have not received all the information and explanations we require for our audit.

Responsibilities of trustees

The trustees are responsible for the preparation of financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the trusts 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 trust or to cease operation, or have no alternative but to do so.

174 TRUST

INDEPENDENT AUDITORS’ REPORT

TO THE TRUSTEES OF 174 TRUST

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 65(2) of the Charities Act (Northern Ireland) 2008 and report in accordance with regulations made under section 66 of that Act.

Our objectives are to obtain reasonable assurance 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, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, 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 below:

In identifying and assessing risk of material misstatements in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

e the nature of the industry and sector, control environment and business performance including the design of the remuneration policies, key drivers for management remuneration ;
e results of our enquiries of management about their own identification and assessment of irregularities;
e any matters we identified having obtained and reviewed documentation of their policies and procedures relating to;
e Identify and test journal entries to address the risk of inappropriate journals and management override of controls;
e identifying, evaluating and complying with laws and regulations and whether management were aware of any instances of non-compliance;
e detecting and responding to the risks of fraud and whether management have knowledge of any actual, suspected or alleged fraud;
e the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations.
e Challenging assumptions and judgements made by management in their significant accounting estimates including estimate of useful lives of tangible fixed assets;
e The matters discussed among the audit engagement team including tax and valuation specialists regarding how and where fraud might occur in the financial statements and any indicators of fraud.

As a results of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We have also obtained an understanding of the legal and regulatory frameworks in operation, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context including ongoing compliance with the UK Companies Act and tax legislation.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental for their ability to operate or to avoid a material penalty.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

e ldentify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design 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 material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
e Obtain an understanding of internal 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 effectiveness of the charitable company’s internal control.
e Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.
e Conclude on the appropriateness 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 financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report.
e However, future events or conditions may cause the charitable company to cease to continue as a going concern.
e Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

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.

174 TRUST

INDEPENDENT AUDITORS’ REPORT

TO THE TRUSTEES OF 174 TRUST

‘Use of our report

This report is made solely to the 174 Trust trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations (Northern [reland) 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 them in an auditor's report and for no other purpose. To the fullest extent permitted 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 report, or for the opinions we have formed.

ws hovace Bile. Janice Blair (Senior Statutory Auditor) For and on behalf of Harvey & Co Accountancy Services Ltd (Statutory auditor) 5 Wiltowbank Road Millbrook Larne Co Antrim BT40 2SF

31 March 2026