Cahoots Nl Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Cahoots Nl Limited MUIR & ADDY CIAITEIII ICC•IITAITI Year ended 31 March 2023 Opinion We have audited the financial statements of Cahoots Nl Limited (the 'charity'} for the year ¢nded 31 March 2023 which comprise the stalernent of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framcwork that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 Th¢ Financial Reporting Standard applicable in thc UK and Republic of Ireland (United Kingdom Generally Accqjted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the charity's 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 been properly prared in accordance with United Kingdom G¢n¢rally Accepied Accounting Practice. have been prepared in accordance with the requirements of the Charities Act (Northern Ireland) 2008. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the audilor's responsibilities for the audit of the financial statemenls section of our ryrt. We are indqjendent of the charity in accordance with the dhical requirements that are relevant to our audit of th¢ financial stat¢m¢nts in the UK, including the FRC'S Ethical Standard, and the provisions available for small entities, in the circumstances set out below. and we have fijlfilled our other ethical responsibilities in accordance with these requiretnenls. We believe that the audit evid¢nce we have obtained is sufficient and appropriate to provide a basis for our opinion. In auditing these financial statements w¢ have applied the"Ethical Standard- Provisions Available for Small Entities" issued by the Financial Reporting Council, in the circurnstances set out in not¢ 25 to the financial stal¢ments. Conclusions relating to going concern In auditing the financtal staternents, 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 pafonned. we have not identif2ed 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 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 tNstees with Tespect to going concern are described in the relevant sections of this report.
Cahoots Nl Limited Company Limited by Guarantee Independent Auditorfs Report to the Members of Cahoots Nl Limited (Continued) MUIR & ADDY ¢IAITEIII ACCDIIIAITI Year ended 31 March 2023 Other information The other inforniation comprises the infonnation included in the annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the oÈh¢r information. Our opinion on the fjnancial statements does not cover the other inforn]ation and, excq)t to the extenl othen¥ise explicitly stated in our report, we do not express any fonn 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 inforniation is materially inconsistent with the financial stal¢ments or our knowlcdge obtained in the audit or othenvise appears to be materially misstated. If we identify such material inconsistencies or apparent matcrial misstatements, we are required to detennine whether there is a material misstatement in the financial statements or a material misstat¢rnent of the other infonnation. If, basd on the work we have perfonned. we conclude thal there is a material misslatemenl of this other inforniation, we are Tequired to report that facl. We have nothing to report in this regard. Matters on whieh we are required to report by exception In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identifi¢d material rnisstatements in the trustees, report. We have nothing to report in respect of the following matters in relation to which the Charities Aci (Northern Ireland) 2008 requires us lo report to you if, in our opinion: the infonnation given in the trustees, report is inconsistent in any material respect with the financial statements- or adequate accounting records have noi been kept. or the financial statements are not in agreement with the accounting records and returns" or we have not received all the inforniation and explanations we require for our audit. Responsibilities of trustees As explained more fully in the trustees, responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as the trustees deierniine is necessary to enable the preparation of financial statements that are free from material misstatanent, whether due to fraud or error. In preparing Ihe financial slatements, the trustees are responsible for assessing the charity'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 trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. 10
Cahoots Nl Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Cahoots Nl Limited (contlnu8d) MUIR & ADDY Year ended 31 March 2023 Auditor's responsibilities for the audit of the finaneial statements 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. R¢asonable assurance is a high level of assurance, but is not a guaranlee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or eor and are considered matertal if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these fmancial 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 dciailcd b¢low'. We discussed laws and regulations and fraud risks during our audit planning procedures. The company musl comply with relevant legislation and prepare financial statements which give a true and fair view. Fraud is most likely to tnvolve the misappropriation of charity assets, for example fraudulent payments which might include the creation of fictitious suppliers or anployees or the changing of bank details. Our engagement team collectively had appropriate experience of applicable laws and regulations and comp¢lence to recognise non-compliance. We used checklists in evaluating the presentation, strncture and contcnt of the financial stalements. We consider that our audit has a reasonable chance of detecting material non-compliance with laws and regulations. We remain mindful that fraud, by its very natur¢, may be difficult lo detect, and that misapproprialion may occur b¢fore transactions enter the accounting records of the charity. Audil procedures were planned and perfonned lo test controls in place for authorisation and pa)ment of supplier invoices and salaries. We also undertook analytical procedures io identify trends Ihat might indicate fraudulent payments and we reviewed general ledger payments process¢d differently lo regular supplier payments. We consider that our audit has a reasonable chance of detecting a material fraud in this area. As part of an audit in accordance with ISAS (UK), we exercise professional judgmenl and maintain professional sc¢pticism throughout th¢ audit. We also: Edenlify and assess the risks of material misstatement of the financial statements, whether due to fraud or error. design and perforn] audit Procedures responsive to those risks, and obtain audit evidencc that is suff1cient 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, misrqiresentations, or the override of internal control. Obtain an undcrslanding of internal control relevanl to the audit in order to design audit procedures ihat are appropriate in th¢ circumstanc¢s, but not for the purpose of expressing an opinion on the effectiveness of the internal control. Evaluate th¢ appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. 11
Cahoots Nl Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Cahoots Nl Limited (contlnued) MUIR & ADDY ¢IAITEIII A¢¢•IIIAII1 Year ended 31 March 2023 Conclude on the appropriateness of the trustees, use of thc 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 attention in our auditor's report to the related disclosures in the financial statements or, if such disclosur are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up io the date of our auditor's report. However, future events or conditions may cause the charity to cease lo continue as a going concern. 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 prcsentalion. We communicate with those charged with gov¢rnance gardIng, among other matters, the planned scop¢ 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 charity's 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 state to the charity's members those matters we are required lo state to them in an auditor's report and for no other purpos¢. To the fullest extent pernittted by law, we do not accept or assume responsibility lo anyone other than the charity and th¢ charity's members as a body, for our audit work, for this report, or for the opinions we have fonned. Paul Leathem FCA (Senior Statutory Auditor) For and on behalf of Muir & Addy Chartered accountants & statutory auditor 427 Holywood Road Belfast BT4 2LT 6 September 2023 12