Woodvale & Shankill Communit Housin Association Limited Independent Auditors, Report to the Members for the Year Ended 31 March 2023 We have audited Ihe financial staternents of Woodvale & Shankill CommLinity HoLising Association Ltd for the year ended 31 March ?0?3 which cornprise the consolid2cted and association statetnent of coinpi-ehensive income, the consolidated aiid association 5taietnent of changes in reserves: the consolidaied and association statement of financial position. the consolidated statement of ca5hflow5 and Ihe related notes, which include a description of the significant accountin policies. In our opinion. the group and association financial statements.. give a true and fair view of the state of the group and association's affairs as at 31 March 202i and of tlie groLlP and association's surplus, and of the group's cashflows for the year then ended. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdorn Accountino Standards, comprising FRS 102 The Financial Reporting Standard applicable in the UK and Republic OF Ireland and applicable law) liave beeii propei'ly prepared in accordance with the Coperative and Coinmlinity Benefii Socielies Act (Nortliern Ireland) 1969 and the Registered Housing Associations (Accounting Requirements) Order {Northern Ireland) 1993. Basis for Opinion We coiiducted our audit in accordance with International Standards on Auditing (UK) ("ISAs {UK)") and applicable law. Our responsibilities under ISAS (UK) are further described in the Aiidiiors, responsibilities for the audit of the financial statements section of our report. We belleve that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opiiiion. Independence We remained independent of the group and association in accordance with the elhÈcal reqLliI'ernents that are relevant to our aiidil of the financial statements iii Ilie UK, which inclLides the FRC'S Eiliical Staiidard and we have fulfilled our otlier ethical responsibilities in accordance witli these reqiiirements. Conclusions relating to going concern In auditing the financial statements, we have concluded that the Board of Management's use of tlie goino concern basis of accounting in the preparation of the financial statements l) appropriate. Based on the work we have perfonTted. we have not identified any material iinccrtainties relating to events or conditions that, individually or collectively. may cast significant doubt on the Group and A550¢iation's ability to continue as a going concern for a period of at least twelve months from the date when the financial stateinents are authorised for issue. Our re5ponsibililie5 and the responsibilities of the directors with respect to going concem are described in the relevant sections of this report, Other information The other infomiaiion comprises the infomiation included in the aiinual report, other than the accounts and our auditor, s report thereon. The trustees are responsible for the other information. Our opinion on the accounts does not cover the other infonnation and we do not express any forni of assurance conclusion thereon. In connection with our audil of the accounts. our responsibilily IS to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts or our knowledge obtained in the audil or otherwise appears to be materially misstated. If we ideiitify such material inconsistencies or apparent inaterial Inisstatements, we are requii'ed to detemiine whether there is a material misstatement in the accounts or a matei'ial misstatement of the other infomation. If. based on the work we have perfoi'med, we conclude that there is a material misstatement of this other infomation, we are required to report that fact. We have nothing to report in this regard.
Woodvale & Shankill Communit Housin Association Limited Independent Auditors, Report to the Members for the Year Ended 31 March 2023 {continuedl Matters on which we are required to report by exception We have notliing to report in respect of the following matters in relation to Nvhich the Co-operative and CominLinity Benefit Societies Act (Northern Ireland) 1969 require LIS to report to you if, in Olir opinioii.. 'Ihe information given in the financial statements is inconsisteiit in aiiy material respect with the board report. or SLifficient accoLinting records have not been kept- or the financial statements are not in agreement with the accounting records. or we have D.Ot received all tlie information and explanations we require for our audit. Under the Charities Act (Northem Ireland) 2008 and Regulation 9 of the Charities (Accounts and Reports) Regulatioiis (Northeni Ireland) 201 i, we are required to report to you if, in Olir opinioii.. siifficient accounting records have iiot been kept. the financial statemeiits are not in agreement with the accounting records. or we have not received all the information and explanations we require for our audit- OT the iiiformation given in the Report of the Board of Management and the Strategic Report is inconsistent in any material respect We have nothing lo report in this regard. Responsibilities of board As explained more fully iii tlie board's responsibilities statein-nt, the board rnernbers (who are also the trustees of the socIatIon for the purposes of charity law) are responsiblc for the preparation of the Financial 5tateinents and for being satisfied that they give a true and fair view, and for such internal control as the board detennine is necessary to eiiable tlic preparation of financial statements that ar¢ flee froin material misstatement, whether diie to fralid or error. Iii preparing the financial statements, the board is responsible for assessing the association's ability to conliiiue a goiiig concern, disclosing, as applicable, Inatters related to going concem and usiiig tlie goiiig concern basis of accounting unless the board either intends to liquidate the association or lo cee operations, or has no realistic altemative but to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the accoLints as a whole are free from material misstateinent. whether due to fraud or error, and to issue an auditor's report that inclLide5 our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accoi-dance with ISAS (UK) will always detect a material misslatement when it exists. Misstatements can arise from fraud or error and 8J-e considered malerial if, individually or in the aggregate, they could reasoiiably be expected to influence the economic decisions of users laken on the basis of these accouiits. Extent to which the audit was capable of detecting irregularities, including fraud Irregularities. including fraud, are instances of non-compliance with laws and regiilations. We dessgn procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, includiiig fraud. The extent to which our procedwes are capable of detecting irregularities,. including fraud is detailed below: We gained an undeTStating of the legal and the regulatory framework applicable to the group and the industy in which it operates and coiisidei'ed tlie risk of acts by the group which were contrary to applicable laws and regulations, including fraud. These included but were not limited io compliance with United Kingdom Generally Accepted Accounting Praclice (United Kingdom AcooLinting Standards, comprising FRS I02 The Financial Reporting Standard applicable in the UK and Republic of Ireland and applicable law)"
Woodvale & Shankill Comrnunit Housin Association Limited Independent Auditors, Report to the Members for the Year Ended 31 March 2023 (contlnued) We focused on laws and regulations that could give i-ise to Inalet'ial missiatemeiit in the tiiiancial statements. Our lests incliided but were not liiii ited 10: agreeinenl of the financial statement disclosure5 to underlying Supporting documentation. enquiries of managetnent- review of minutes of board meetings throiighout the period. and considering Ihp effectiveness of the control environrnent and monitoring coinpliance with laws and regiilations. We also commLinicated relevant identified laws and reiyulations and poiential fraud risk" to all engagernent team Tnembers and remained alert to any indications of fraud or iion-compliance with laNvs and regulalions IhrouDhout the audit. There are inherent limitatioiis in the audit procedures described above and the further removed non-compliance ivith laws aiid I'egiilalions is from events and transaction re(]e¢ted in the financial statemeiits. the less likely Nve would become aware of it. As in all of our audits we addressed the risk of managemeni override OT inlernal controls. including tesliiig journals aiid evaluating whether there was evidence of bias by the directors that represented a risk of material inisstalernent due lo fraud. Our audit procedui'es were designed to respond lo risks of material misstatement in the financial Statements, re¢o(ynising thal the risk of not det¢ctiiig a material misstatement due to fraud 15 higher Ihai) the risk of not delectiiig one resliliing from error, as fraud may involve deliberate concealnient by, for example, foi'oery, rnisrepresentations or through collusion. There are inherent limitat?ons in the audit procedLires performed and the further removed non-compliaiice with laws aiid reglilatioiis is from the events and transactions reflected in the f111ancial stateiTJents, the less likely we are to be¢oTlle aware of il. A further description of our responsibilities for the audit of ilie accounts is lo¢aled on tlie Financial Reporting Council's website al= httP'./lwww.frc.oi'g.uldauditorsresponsibilities. This description forms part of our auditor's i-eport. Use of this report This report is made solely to the a550ciation's board, as a body, in accordance with tlie Co-operative and Community Benefit Societies Aci (Northern Ireland) 1969 and the Registered Housing Associations (Accountino Requirements) Order (Northern Ireland) 1993.our audit work has been undertaken so that we might state to the association's board those matters we are required to slate to them in an auditor's report and for no oiher purpose. To the fullest extent permitted by law, we do not accept or assurne responsibility to anyone other than the association and the &ssociaiion's board as a body, for our audit work, for tliis I'eport, or for the opinions we have fonned. Mr Richard Mcclay FCA Senior Statutory Auditor For and on behalf of: MTS Chartered Accountants l Lanyon Quay Belfast BTI 3LG Dale..