Impact Training Nl Limited
Independent Auditor's Report to Impact Training Nl Limited
Year ended 31 March 2023
Opinion
We have audited the financial statements of Impact Training Nl Limited (the 'society') for the year
ended 31 March 2023 which comprise the statement of income and retained earnings, 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 Slandards, including FRS 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 societys affairs as at 31 March 2023 and of its income
and expenditure for the year then ended-
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice.
have been prepared in accordance with the requirements of the Co-operative and Community
Benefit Societies Act (Northem Ireland) 1969.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK}l and
applicable law. Our responsibilities under those standards are further described in the respective
responsibilities of management committee and auditor section of our report. We are independent of
the society 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 slatements 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 charity's ability
to continue as a going cOn￿M 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 concem are described
in the relevant sections of this report.
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Impact Training Nl Limited
Independent Auditor's Report to Impact Training Nl Limited (¢ontinuedJ
Year ended 31 March 2023
Other information
The other information comprises the information included in the annual report, other than the financial
statements and our auditor's report thereon. The trustees are responsible for the other informalion.
Our opinion on the financial statements does not cover the other infomiation and. except to the extent
otherwise explicitly stated in our report, 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
information and. in doing so, consider whether the other infomiation is materially inconsistent with the
financial statements or our knowledge obtained in the audit or otherwise 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 misstatement of the other information. 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 society and its environment obtained in the
course of the audit, we have not identified material misstatements in the management committee
report.
We have nothing to report in respect of the following matters in relation to which the Co-operative and
Community Benefit Societies Act (Northern Ireland) 1969 requires us to report to you if, in our opinion:
the society has not kept proper books of account or has not maintained a satisfactory system of
control over its transactions., or
the financial statements are not in agreement with the society's books of account; or
we fail to obtain all the information and explanations which. to the best of our knowledge and
belief, are necessary for the purposes of our audit.
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Impact Training Nl Limited
Independent Auditor's Report to Impact Training Nl Limited (¢ontinuedJ
Year ended 31 March 2023
Respective responsibilities of the management committee and independent accountant
As explained more fully in the management committee's responsibilities statement, the management
committee is responsible for the preparation of the financial statements and for being satisfied that
they give a true and fair view. and for such intemal control as the management committee determines
is necessary to enable the preparation of financial statements that are free from material
misstatement, whether due to fraud or e￿Or.
In preparing the financial statements, the management committee is responsible for assessing the
society'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 management committee either
intend to liquidate the society or to cease operations. or have no realistic alternative but to do so.
20

Impact Training Nl Limited
Independent Auditor's Report to Impact Training Nl Limited (¢ontinuedJ
Year ended 31 March 2023
Auditor's responsibilities for the audit of the financial ststements
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 e￿Or. 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 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 risks of material misstatement in respect of irregularities, 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;
detecting and responding to the risks of fraud and whether 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 component
audit teams and relevant intemal specialists, including tax and valuations specialists
regarding how and Whe￿ fraud might occur in the financial statements and any potential
indicators of fraud.
As a result 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 prO￿dureS 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 considered in
this context included 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.
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Impact Training Nl Limited
Independent Auditor's Report to Impact Training Nl Limited (¢ontinuedJ
Year ended 31 March 2023
As part of an audit in accordance with ISAS (UK). we exercise professional judgment and maintain
professional scepticism 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 error.
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 effectiveness 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 uncertainty exists related to
events or conditions that may cast significant doubt on the charity's ability to continue as a going
concern. If we conclude that a material uncertainty exists, we are required to draw attenlion in
our auditorfs 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. 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 transactions and
events in a manner that achieves fair presentation.
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Impact Training Nl Limited
Independent Auditor's Report to Impact Training Nl Limited (¢ontinuedJ
Year ended 31 March 2023
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 significant deficiencies in
internal control that we identify during our audit.
Use of our report
This report is made solely to the society. in accordan￿ with section 43 of the Co-operative and
Community Benefit Societies Act (Northern Ireland) 1969. Our audit work has been undertaken so that
we might state to the society those matters we are required to state to it 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 society, for our audit work, for this report, or for the opinions we have formed.
Conor Dolan FCA (Senior Statutory Auditor)
For and on behalf of
Finegan Gibson Ltd
Chartered accountants & statutory auditor
Causeway Tower
9 James Street South
Belfast
BT2 8DN
20 September 2023
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