YOUNG FARMERS. CLUBS OF ULSTER INDEPENDENT AUDITOR'S REPORT TO THE EXECUTIVE COMMirrEE OF YOUNG FARMERS. CLUBS OF ULSTER Opinion We have audited the financial statemerrts of Young Fam)ers' Clubs of Ulster (the 'Association') for the y8ar ended 31 August 2023 which comprise the ststement of financial activities, the balan￿ sheet, the statement of cash flows and notes to the financial stalements, induding significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United kn-ngdom Accounting Stsndards, including Finanaal Reporting Standard 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 charitable company's affairs as at 31 August 2023 aTra of its incoming resources and application of resources, for the year then ended,. have been property prepared in accordan￿ wtth United Kingdom Generally Accepted Accounting Practi￿,. and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for opinion We conducted our audit in accordance with Intemational Standards on AudFting {UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorfs ￿SpOnSibl1111es for the audit ol the financial statements section of our report. We are indeperKlent of the Association in accordance wth the ethical requirements that are relevant to our audit of the ffinancial statements in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordan￿ 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 golng concern In auditing the financial statements. we have concluded that the Executive Committee use of the wng concem basis of accounting in the preparalj'on of the financial statements is appropriate. Based on the work we have perfomed. we have not identified any material uncertainties relating to events or conditions that, individually or colleclively. may cast ￿gnfficant doubt on the Association's abilrty to continue as a going concern for a period of at least hvelvè months from when the financial statements are authorised for issue. Our responsibilrties and the responsibilities of the Executive Comrnittee with respect to going concem are described in the relevant sections of this reporL Other Inforniation The other infomation comprises the infonnation induded in the annual report other than the fina￿la1 statements and our auditorfs report thereon. The Execxrtive Committee are responsible for the other inforniation contained thin the annual report. Our opinion on the financial statements does not cover the other infOrmat￿)n and we do not expre55 any fomi of assurance coriclusion thereon. Our reSPon￿billty is lo read the other informaticn and, in doing so, consider whether the other infomiats-on is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit. or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material rnisstatements. we are required to detemiine whether this gives rise to a material misstatement in the financial statements themselves. If. based on the work we have performed. we condude that there is a material misstatement of this other infornation. we are required to report that fact. We have nothing to report in this regard. YOUNG FARMERS. CLUBS OF ULSTER INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE EXECUTIVE COMMIThEE OF YOUNG FARMERS. CLUBS OF ULSTER Matters on whkh we are required to report by oxceptlon We have nothing to report in respect of the followng matters in relation to wfiich the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our O￿niOn. the information given in the financial ststements is incon￿stent in any material respect with the Executivè Committee report.. or sufficient accounting records have not been kept; or the financial statements are not in agreement wth the accounting records.. or we have not received all the information and explanations we require for ¢wr audit. Responslbllltles of Execullve Commitiee As explained more fijlly in the statemerrt of Executive Committee responsibilities. the Executive Committee, vtho are also the directors of the Associats'on for the purpose of Mmpany 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 intemal control as the Executive Committee detemiine is necessary to enable the preparation of financial ststements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements. the Executivé Committee are responsible for assessing the Associats"on's abilty to continue as a going cOn￿M, disclosing, as applicable, matters related to going concem and using the going concem basis of accounting unless the Executtve Committee either intend to liquidate the charitable company or to cease operations. or have no realtstic alternative but to do so. Audltor's responslbllltles for the audit of the financial statements We have been appointed as auditor under sects'on 144 of the Charrtjes Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtsin 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 auditorfs report that indudes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance th ISAS {UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material rf, individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the ba￿S of these financial statements. Irregulariknes, induding fraud. are instances of norFCOm￿lan￿ wrth laws and regulations. We design procedures in line with our responsibilities, outlined above. to detect material misstatements in resped of irregularities. including fraud. The extent to which our procedures are capable of det￿ling irregulartlies, including fraud. is detsiled below. Our approach to identtfying and assessing the risks of material misstatement in respect of irregularities, including fraud and non<0mplian￿ with laws and regulations, was as fdlows" the engagement partner ensured that the engagement team collectively had the appropriate competen￿, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations: we identified the laws and regulations applicable to the ¢￿panY through discussions with directors andlor senior management, and from our commercial knowledge and experience of the sector,. we focused on specific laws and regulations vthich we considered may have a direct material effect on the financial statements or the operations of the company, inclLKling Companies Act 2006, taxation legislation, data protection. anti-bribery, employment, enwronmental and health and safety legislation we assesse(t the extent of Com￿lance viith the la￿￿ and regulatTrons ident"ffied above through making enquiries of management and inspecting legal corresponden￿. and identified laws and regulations were communicated within the audit team regularfy and the team remained alert to instan￿$ of non-compliance throughout the audit. YOUNG FARMERS. CLUBS OF ULSTER INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE EXECUTIVE COMMITTEE OF YOUNG FARMERS. CLUBS OF ULSTER We assessed the susceptibility of the company's financial statements to material misstatement. induding obtaining an understanding of how fraud might occur, by.. making enquiries of management as to vthere they Considered tr￿re was susceptibility to fraud. their knovledge of actual, suspected and alleged fraud", and considering ihe intemal controls in place to mitigate risks of fraud and non