OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2024-03-31-annual-return

Woodvale & Shankill Community Housing Association Limited

to the Members for the Year Ended 31 March 2024

We have audited the financial statements of Woodvale & Shankill Community Housing Association Ltd for the year ended 31 March 2024 which comprise the consolidated and association statement of comprehensive income, the consolidated and association statement of changes in reserves, the consolidated and association statement of financial position, the consolidated statement of cashflows and the related notes, which include a description of the significant accounting policies.

In our opinion, the group and association financial statements:

Basis for Opinion

We conducted 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 Auditors' responsibilities for the audit of the financial statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Independence

We remained independent of the group and association in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, which includes the FRC's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Board of Manageme 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 Group and Association's ability to continue as a going concern for a period of at least twelve months from the date when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual 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 information and we do not express any form of assurance conclusion thereon. In connection with our audit of the accounts, our responsibility 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 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 accounts 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.

4

Woodvale & Shankill Community Housing Association Limited

Members for the Year Ended 31 March 2024

(continued)

Matters on which we are required to report by exception

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 require us to report to you if, in our opinion:

Under the Charities Act (Northern Ireland) 2008 and Regulation 9 of the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015, we are required to report to you if, in our opinion:

We have nothing to report in this regard.

Responsibilities of board

As explained more fully in the board's responsibilities statement, the board members (who are also the trustees of the association for the purposes of charity law) 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 board 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 board is responsible for assessing the association'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 board either intends to liquidate the association or to cease operations, or has no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the accounts 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 accounts.

Extent to which the audit was capable of detecting irregularities, including fraud

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:

We gained an understating of the legal and the regulatory framework applicable to the group and the industry in which it operates and considered the risk of acts by the group which were contrary to applicable laws and regulations, including fraud. These included but were not limited to compliance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of lreland", and applicable law)";

5

Woodvale & Shankill Communi Housin Association Limited Independent Auditors, Report to the Members for the Year Ended 31 March 2024 (Continued) We focused on laws and re.oulations that could give rise to material misstatement in the financial statements. Our tests Includ￿ but were Dot limited to.. agreement of the fmancial statement disclosures to uudetlying supporting do¢umentation' enquiries of management" revtew of minutes of board meetings t￿oughOut the period. and considenng the effectiveness of the control environment and monitoring compliance with laws and reguEations. We also communicatedrelevant identified laws and regulations and potential fraud risk to all engagement team members and remained alert to any indications of fraud or notL•compliance with laws and regulatt.ons throughout the audit. There are inherent limitations in tbe audit procedures described above alld tbe further removed non4compliance with laws and regulations is from events and transactt.on retT¢cted in the fjnancial statements. the less likely we would become aware of it. As m all of our audits we addressed the rAsk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud. Our audit procedures were designed to respond to nsks of material mis5taternent in the financial statements, recognising that the risk of not detecting a matenal n]isstatement due to fraud is higher than the risk of not d¢tecting one resulting from error, as fraud may involve deliberate ¢oncealment by, for example, foigery. misrepresentations or through collusion. There are inherent limitats.ons ill th¢ audit pr(Kedures perfonned and the further removed non-¢0mp￿"ance with laws and reglllation.s is fmm th?. e.ve.nts and tr2￿saCtions reflected in the fmancial Statements, the less likely we are to become awareDf it. A further description of our rcsponsibilities for the audit of the ac¢ounts Is ((Kated on the Financial Reporting Council's website at.. http'.Ilwww.frc.org.ukJauditorsresponsibilities.:This description forn)s part of our auditor's report. Use of this report This report is made solely to the association's board, &$ a body. in accordance with the Co-operative and Community Benefit Societs'es Act (Northern treland) 1969 and the Regnstered Housing Associations (Accounttng Requ￿ernents) Order (Northern treland) 1993.our audit Work bas been undertaken 50 that we might state to the association'5 board those matters we are required to stste to them in an audilOT'S report and for no othei purpose. To the fullest extent pennitted by law, we do not accept or assume responsibilityto anyone other than the association and the association's board as a body, for our audit work. for this report. or for the opinions we have formed. Mi Richard Mcclay FCA Senior Statutory Auditor For and on behalf of-. MTS Chartered Accountants l Lanyon Quay B¢lfast BTI 3LG Date.. 5th August 2024