Eastside Greenways Company Limited by Guarantee Independent Auditor's Report to the Members of Eastside Greenways Year ended 31 March 2023 Opinion We have audited the financial statements of Eastslde Greenways (the 'chariV) for the year ended 31 March 2023 which comprise the statement of financial activities (including income and expenditure account), statement of financial position and the related notes. including a summary of significant accounting policies. 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 (United Kingdom Generally Accepted Accounting practi). In our oplnlon the financial ststements.. give a true and fair view of the state of the charity'5 affairs as at 31 March 2023 and of its incoming resources and application of resources, including its income and expenditure. for the year then ended. have b88n properly prepared in a¢¢ordance with United Kingdom Generally Accepted Accounting Practice; have been prepared in accordance with the requirements of th8 Companies Act 2006. Basis for opinion We conducted our audit in accordance with Intemational 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 report. We are independent of the charity in accordan with the ethical requirements that a relevant to our audit of the financial statements in the UK, including Ihe FRC'S Ethical Stsndard, and the provisions available for small entities. in the circumstances set out below, and we have fulfilled our other ethical responsibilities in accordance wilh these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. APB Ethical Standard - Provisions available for small entities In common with many other organisations of a similar size and nature. the charity uses its auditors to prepare and submit returns to the tax authoriti8s and assist with th8 preparation of their organisation's financial statements. Con¢luslons relatlng to golng concern In auditing the financial statements. we have concluded that the twstees, use of the going Concern basis of accounting in the preparation of the financial stat8ments is appropriatè. Based on the work we have pgrfonTJed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue a5 a going concern for a period of at least e1ve 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. 11
Eastside Greenways Company Limited by Guarantee Independent Auditor's Report to the Members of Eastside Greenways (continued) Year ended 31 March 2023 Other Infomiatlon The other information comprises the infomiation included in the annual report. other than the financial statements and our auditor's report thereon. The trustaes are responsible for the other information. 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 fom of assurance conclusion thereon. In connection wilh our audit of the financial statements, our responsibility is to read the olher information and, in doing so, consider whether the other information is materially inconsistent with the ftnancial statements or our knowledge obtained in the audit or othemise appears to be 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 financial statements or a material misstatemant of the other information. If, based on the work we have performed. we conclud8 that there is a material misstatement of this other information, are required to report that fact. We have nothing to report in this regard. Oplnions on other matters prescrlbed by the Companies Act 2006 In our opinion. based on the work undertaken in the course of the audit: the information 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 accordance with applicable18gal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charity and its environment obtsined 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 Companies Act 2006 requires us to report to you if. in our opinion: adaquatè accounting records have not b88n kept, or returns adequate for our audit hav8 not been received from branches not visited by us., or the financial statements are not in agreement with the accounting records and returns,. or certain disclosures of twst8es' remuneration specified by law are not made: or have not received all the information and explanations we require for our audit: or the trustees were not entitled to prepare the financial statements in accordan with the small companies regime and take advantage of the small companies, exemption5 in preparing the directors, report and from the requirement to prepare a strategic report. 12
Eastside Greenways Company Limited by Guarantee Independent Auditor's Report to the Members of Eastside Greenways (continu) Year ended 31 March 2023 Responslbllltles of trustees As explained more fully in the trustees, responsibilities statement. the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial ststements and for being satisfied that they give a true and fair view. and for such intemal control as the Irustees determine is necessary to enable the preparation of financial ststements that are free from material misstatement. whether due to fraud or error. In preparing th8 financial statements. the trustees are responsible for assessing the ¢harity's ability to continue as a going Conrn. disclosing. as applicable. matters related to going Concern and using the going con¢em 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. 13
Eastside Greenways Company Llmited by Guarantee Independent Auditor's Report to the Members of Eastside Greenways fcontlnuod) Year ended 31 March 2023 Audltor's responsibilities for the audit of the financial statements Our objedlves are to obtain reasonable assurants about whether the financlal stat8ments as a whole are free from material misstat8ment, 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 expect8d to influence the 8conomic decisions of users taken on the basis of these financial statements. Irregularities, including fraud. are instances of non-compliance with law5 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 detecling irregularities, including fraud is detailed below: In identifying and assessing risks of material misstatement in respect of irregularitie5. Including fraud and non-compliance with laws and regulations, we considered the following: the nature of the industry and sector, control environment and business performance including the design of the remuneration policies, key drivers for directors, remuneration. bonus levels and performance targets; results of our enquiries of management about their own identification and assessment of the risks of irregularities; any matters we identified having obtained and reviewed documentation of their policies and procedures relating to: identifying. evaluating and complying with laws and regulations and whether management were aware of any instances of non-compliance: delecling and responding to the risks of fraud and whethar management have knowledge of any actual, suspected or alleged fraud., the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations. the matters discussed among the audit engagement team including significant compon8nt audit teams and relevant intemal specialists, including tax and valuations specialists regarding how and where fraud might occur in the financial Statements and any potential indicators of fraud. As a resuli of thes8 procedures. we consider&d the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fRud. In common with all audits under ISAS (UK), we are a150 required to perform specific procedures to respond to the risk of management override. We 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 rnnsldered Sn this cont8Xt included ongoing Complian with the UK Compani8s Act and tax legislation. In addition. we considered provisions of other laws and régulations 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. 14
Eastside Greenways Company Limited by Guarantee Independent Auditor's Report to the Members of Eastside Greenways (continued) Year ended 31 March 2023 As part of an audit in accordance with ISAS (UK). we exercise professional judgment and maintain professional sGepticism throughout the audit. We also: Identify 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 eOr, as fraud may involve collusion, forgery, intentional omissions, misrepresentations. or the override of internal control. 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 effediveness of the intemal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. 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 UnrtaInty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concem. If we conclude that a material uncertainty exists, we are required to draw attention in our auditorfs report to the relatad disclosures in the financial statements or, rf 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. However, future events or conditions may cause the charity to cease to continue as a going concem. Evaluate the overall presentation. structure and Content of the financial statements, including the disclosures. and whether the financial statements represent the underlying transadions and ev8nts in a manner that achieves fair presentation. 15
Eastside Greenways Company Llmlted by Guarantee Independent Auditorfs Report to the Members of Eastside Greenways (¢ontinuedJ Year ended 31 March 2023 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 deficien¢ies in intemal control that we identify during our audit. Use of our report This report is mad8 solely to th8 charitys members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might stale to the chariws members those matters we are required to stale to them in an auditorfs 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 charity and the charity'5 members as a body, for our audit work, for this report, or for the opinions we have formed. Paul Dolan (Senior Statutory Auditor) For and on behalf of Finegan Gibson Ltd Chartered accountants & statutory auditor Causeway Tower 9 James Street South Belfast BT2 8DN 1 D8cember 2023 16