Hillerest Trust (Top of the Hill) Ltd
Company limited by guarantee
Independent auditor's report to the directors of Hillcrest Trust (Top of the Hill) Ltd.
Opinion
We have audited the financial statements of Hillcrest Trust (Top of the Hill) Ltd for the year ended 31 March
2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cashflow Statement and the
related notes. The f￿anCIal reporting framework that has been applied in their preparation is applicable law and
United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice) including
FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland
This report is made solely to the charitable company's directors, 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 stste to the charitable
company's directors those matters we are required to state to them in an auditor's report and for no other purpose.
To the fullest extent perniitted by law, we do not accept or assume responsibility to anyone other than the
charitable company and the Charitable company's directors as a body, for our audit work, for this reporL or for the
opinions we have fomied.
In our opinion the financial statements:
give a true and fair view of the state of the charitable company's affairs as at 31 March 2023, and of its
incoming resources and expenditure of resources, including 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 Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) USAS (UK)) and
applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities
for the audit of the financial statements section of our report. We are independent of the charitable company 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 fll]ancial statements, we have concluded that the directors, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have perfomied, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the charitable company'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 directors with respect to going concern are described in the
relevant sections of this report.
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Hillerest Trvst (Top of the Hill) Ltd
Company limited by guarantee
Other information
The directors are responsible for the other inforniation. The other infonnation comprises the inforniation
included in the directors, annual report, other than the financial statements and our auditor's report thereon. Our
opinion on the financial statements does not cover other infonnation and, except to the extent otherwise explicitly
stated in our report, we do not express any forni of assurance conclusion thereon.
In connection with our audit of the fmancial statements, our responsibility is to read the other inforniation and, in
doing so, consider whether the other inforn]ation is materially inconsistent with the fmancial statements or our
knowledge obtained in the audit or othenvise appears to be materially tllisstated. If we identify such material
inconsistencies or apparent material misstatements, we are required to detennine whether there is a material
misstatement in the financial statements or a material misstatement of the other inforn]ation. If, based on the
work we have pcrfornied, we conclude that there is a material misstatement of this other inforn)ation, we are
required to report that fact.
We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion based on the work undertaken in the course of the audit:
the inforniation given in the Directors, Annual Report for the fmancial year for which the financial statements
are prepared is consistent with the financial statements. and
- the Directors Annual Report has been prepared in accordance with applicable legal requirements.
Ililatters on whieh we are required to report by exception
In the light of our knowledge and understanding of the charitable company and its environment oblained in the
course of the audit, we have not identified material misstatemcnts in the Directors Annual Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to
report to you if, in oui opinion:
adequate accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records and returns. or
certain disclosures of directors, remuneration specified by law are not made. or
- we have not received all the inforniation and explanations we require for our audit. or
the directors were not entitled to prepare the financial statements in accordance with the small companies
regime and take advantage of the small companies exemption from the requirement to prepare a strategic report.
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Hillcrest Trust (Top of the Hill) Ltd
Company limited by guarantee
Responsibilities of the direclors
As explained more fully in the Directors, Responsibilities Statement set out on page 3, the directors (who are also
the directors of the charitable company for the putyoses of company 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 directors detennine 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 directors are responsible for assessing the charitsble company'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 directors either intend to liquidate the charitable company or to cease
operations, or have 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 fInan¢ial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditovs 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 financial statements.
Explanation as to what extent the audit was considered capable of detecting irregularities, including
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures
in line with our responsibilkties, outlined above, to detect material misstatements in respect of irregularities,
including fraud. However, the primary responsibility for the prevention and detection of fraud lies with
management and the board of directors of the charitable company.
Idelllifying and assessing potential risks related to irregularities
In identifying and assessing risks of material misstatement in respect of iTregularities, including fraud and
non-compliance with laws and regulations, we considered the following:
- the nature of the industry, seKtor and the specific control environment which it operates in.
- the charities own assessment of the risks that irregularities may occur, either as a result of fraud or error;
- representations and results from our enquiries with management and the board of directors regarding their own
identification and assessment of the risks of irregularities.
enquiries of management relating to accounting estimates measurements, recognition criteria and justification of
such amounts"
- any matters we have identified having obtained and reviewed the Charities policies and procedures relating to.
* identifying and assessing if laws and regulations are compliant and whether they are aware of any instances of
non-compliance.
* detection and response to the risk of fraud and whether they are aware of any actual, suspected or alleged fraud
instances.
* the internal controls designed to mitigate risks or fraud or non-compliance with laws and regulations, and to
miniinise risk of management overrides of such controls.
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Hillcrest Trust (Top of the Hill) Ltd
Company limited by guarantee
all matters discussed among the audit engagement team regarding how and where fraud could occur and the
potential indicators of fraud.
As a result of these procedures, we considered the opportunities and incentives that may exist within the charity
for fraud. The audit included assessing the procedures and evaluating the measurement of estimations. In
common with all audits under ISAS (UK), we are also required to perforni specific procedures to respond to the
risk of management override.
We also obtained an understanding of the legal and regulatory frameworks applicable to the charity and
considered that the most signifkcant are the UK Companies Act 2006, SORP 2019 (FRS 102) and Charities Act
(Northern Ireland)2008.
Audit responses to risks identified
Our procedures to respond to risks identified included the following".
reviewing the financial statement disclosures, testing the relevant documentation to assess compliance with the
significant laws and regulations - those described as having a direct effect on the financial statements.
enquiring with management and obtaining third paty confinnation from the Charities Solicitors regarding any
actual or potential litigation and claims.
perforn)ing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of
material misstatement due to fraud.
reading minutes of board and management meetings, examine forecasting material in line with actual
perforniance, identifying any potential fraud indicators or instances:
reviewing Companies House and Charity Commission Northern Ireland correspondence, identify any late
submissions or omissions of mandatory inforniation.
- review correspondence with HMRC, identifying non compliance of specific inforniation to be disclosed"
in addressing the risk of fraud through management override of controls, testing the appropriateness of data
entries and adjustments. assessing whether the judgements made in making accounting estimates are indicative of
a potential bias. and evaluating the rationale of any significant transactions that are unusual or outside the nornial
course of the Charities objectives.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team
members and remained alert to any indications of fraud or noncompliance with laws and regulations throughout
the audit.
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 perfomi 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,
rnisrepresentations, 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
charitable company's internal control.
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Hillerest Trnst (Top of the Hill) Ltd
Company limited by guarantee
Evaluate the appropriatcness of accounting policies used and the re&sonableness of accounting estimates and
related disclosures made by the directors.
- Conclude on the appropriateness of the dircctors, use of the going concem basis of accounting and, based on the
audit evidence obtained, whether a material uncertainty exists related to events or ¢onditions that may cast
significant doubt on the charitable company'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 disclosures are inadequate, to modify our opinion. Our conclusions are based
on the audit evidence obtained up to the date of the auditorfs report. However, future events or conditions may
cause the charitable company to cease to 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
presentation.
We communicate with those charged with governance ￿gardIn& among other matters, the planned scope and
timing of the audit and significant audil findings, including any significant deficiencies in internal control that we
identify during our audit.
Patrick McGroarty
Senior Statutory Auditor
for and on behalf of
M¢Groarty Mccafferty & Company
Slatutory Auditor
2 Carlisle Terrace
Derry
BT48 6JX
Dated: 24 November 2023
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