YOUNG FARMERS. CLUBS OF ULSTER, THE INDEPENDENT AUDITOR'S REPORT TO THE EXECUTIVE COMMITTEE OF YOUNG FARMERS, CLUBS OF ULSTER, THE Opinion We have audit the financial slalements of Young Famiers. Cbjbs of Ulster. The Ilhe 'Association'l lor the year ended 31 August 2024 which comprise the statement cf financial a1vIlieS, Ihe balance sheet, the 51atemenl of cash flows and notes to the financial stalements. induding significan., accounting pc4iaes. The financial reporbng framework that has been applied in their prepafatior i% applicable law and United KIngrn Accountlng Standard5. including Financial Reporting Sl8ndar(1102 The hndnual Reporting Standard apJlI¢ae in the UK and Republic off Ireland (United Kingdom Generally Accepted Accounting Praclicel. In our opinion. the Iinancial statements". give a true and lair view of the stale of I.e charrtatAe companrfs affairs as at 31 AJ9JSt 2Q24 and of 115 incoming resources and appli¢Xti of resources. for the year then ended", have been properly ppared in accordance with United .gOrn Generally Accepted Accounting Practicè., and have been prepared in accordance with the requirernents of the CompaniesAct 2006. Basis for opinion We conducted our audil in accordance wlh 1ntemats.onal Stsndaros on Auditing IUKI IISAS (UKII and applicable law. Our rcsponsibilities under those standarS are further described in the Auéitor's responsibilits.es for the audit of the finanGJal Staleftnts sectton of cHJr report. We are independent of the Association in accordance with the ethical requir8m8nts that are rdevant to our audit of the financial statements In lfve UK. including Ihe FRC'S Ethical Starard, and we havé fulfilled our other ethicat respcffi5ibililies in accordance with these reqijirèmenls. We believe that the audit evi(Sence we have obtained is sufficient and approrxiate to provide a basis for opinion. Conclusions rèlating to going concern In audityng the financial slalervents, we have conGlud8d Ihal the ExecJJtive Committee use of the going concèrn basis of accounting in the preparation of the finanual statements is appropriate. Based on the work we have perfomied, we havp not Kl8nttfied any tella1 LJn(*rtainlies relating to events or conditions that, individually or collectively, may cast signifi¢ant doubt Dn th9 Assocaation's abilily to contniue as a going conrn for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilibes and the responsibilibes of the Executive Committee wlh respect lo going Loncem are desGribed in the relevant sections of this report. Other infonmation The oth8r information comprises the InfrnatiOft fflduded in the annual port othor than the financ¢al ststements and our auditorfs report Ihereon. The Extcutive Committee are responsible for Ihe othef infomation contained thIN the annual reporL Our opinn)n on Ihe financk41 slalemenls does r1 cover the other Infoall and we do not express affly form of assurance condusion thereon. Our resFK¢nYb•tY is to read the oth8r information and. in doing so. consider whether the other information is materially inconsisknt with the financial statements or our tho%thedge obtained In the course of the audit. or otherw5e appears lo be materially misstate(l. If we identify such material inu>nsistenc¢es or apparent material SSternants. we are required lo determine whether this gives rise to a material fTussia'.ement in the financ4al siatemenls themselves. If. based on Ine work we havè perfLffted, we conclude that there is a material mi5slalemÈnt of this other information. we are requi d to report Ihat facL We have nothing to report In this rega.
YOUNG FARMERS. CLUBS OF ULSTER. THE INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE EXECUTIVE COMMirrEE OF YOUNG FARMERS. CLUBS OF ULSTER, THE Matters on whiGh we are requiTed to report by exception We have nothing to report in respect of the following matters in relation lo which the Charibe5 Accounts and RepKJrts Regulations INorthern Ireland) 2015 requires us to Teport lo you if. itt our opinion.. Ihe infomialion given iry the financwl ststements 15 inwnsistenl in any fflalerial respecl with the Executive Cofnrnrtiee rÈpDrt", or SuffIeN., acc¢unling records have not been kepl", or the financial statements are not in agreement with the accounting recotd5- or we have not received all the infOnatIOn and explanations we require for our audit. Responsibilities of Executive Comrnittee As explained tnorè fully in the staternenl of Executive Committee respcfftsibililies. the Executive Committee, who are also the cjirectors of the Association for the purpose of company law, are reSponsie foi the pieparation of the financial statements and for being salisfied Ihat they give a true and fair view. and for such internal control as ihe Executive com.mittee determine is necessary to enable the PTeparation of financial statements that are fre2 from material rni5Statemgnt. whether due lo fraud or error. In preparipg the financial statements, the Executive Cofflmitlee are responsible for assessing the As50Ciation's ability to continue as a going concern. disclosing. as applicable. matters related to going concem arKJ using the going cor.cem basi5 of accounting unless the Executive Committee either Intend to liqu.date the charitable company or to Gease operations. or have no realistic alternative bul to do so. Auditorfs responsibilitie5 for Ihe audit of the finanGial staternentS We have been appointed as auditor uncer secliDn 6512) of the Charities Act (NoTlhern Ireland) 2008 and report i accordance with the Act and relevant regulalions made or having effecl thereun(ler. Our objeclivg5 are lo obtain reasonable assuran about whelher the financi31 statemenls as a whole are free fro m2terial misslatewnenl, whether due to fraud or oiror. ana to Issue an auditorfs report that include5 Qur opinion. Rea50nablp assurance is a high level of a55ufftnce but is not a guarantee that an audit conducted in aGcordance with ISAS IUKI will always detect a mateial misslatemert when it exists. Mi5Stalements can arise from fraud or error and are considered matenal rf, individually or in Ihe aggregate. they could reasonably be expected to influence the economic dec',sions of users taken on the basis of thes8 financial statements. Irregularities. inclLtding Iraué, are instances of non-compliance wth laws and regulations. Wc design procedures in lin2 w'th our iesponsibilities. outlined above. to deièct rraterial misstatements in respect of irregulaiities, including fraud. The extent to which our Procedures are capable of detcctinq irTegularib"es. including fraud, Is detailed below. Our approach to identrfying and 355e5sing the risks of material misslatement in fest>ecl of irregularities, induding fraud and non-compliance with laws and regulations. was as follows.. the engagement partner ensured that the engagjrnent team cdleclivcly had the appropriate competence, capabitities and ski115 to idenbfy or recognise non-compliance with applIcae laws and reguialions,. we identffied Ihe Idws and regulatits aptAicable lo the company Ihrough diSJSSIOnS with directors andlor senior management. and from our comrnercial kCedge apd experience of the sector, we focused on speofic laws and regulations we considered may tt8ve a direct matertal effect on the finanaal statemenis or the operations of tb.e company. including Companies AGt 2006. taxation legislation, data protection. anti-bn"bery, employment. environmental and health and safety legislation we assessed the extenl of Complian ifvilh the laws and regulab.ons entIfied above through making enqLJiries of managerrieDI ano inspeding legal correswktence.. and idenltfied laws and regulations were communirated ¥ylthtn the aLJdit tearn regularly and the team remained alert to instances of norKompliance throughout the audiL
YOUNG FARMERS. CLUBS OF ULSTER. THE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE EXECUTIVE COMMITTEE OF YOUNG FARMERS. CLUBS OF ULSTER, THE We assessed the SLtsceptibility of the company s financial statements to material misslalement. including obtaining an understanding of how fraud might occur. by: making enquiries of Thanagement as lo where Ihey Gonsidered Ihere was susc£ptibility tD fraud. their knowledgé of actual. suspected an¢J alled fraud". and Considering the inlemal controls place to milvJale iisks of fmud and non-compliance with laws and gulations. To addres5 the risk af fraud through mawTagemenl bias and override of Contr5. we., performed analyhc31 procedures lo identify any Ljnusual or unaxpeGted rèlatlonships,. tested joumal entries to identify unusud transacb"ons', assessed whether Judgements and asSuMptnS rnade in deterrrtining the accounting estimates set tjul in Note 2 were indicative of potential bias,. and Investigat8d the rationale behind 5ignifscanl CY unusual transactions. IrTr response to the risk of irregulartties and -IMpliance Wit laws and regulations. we designed procedures whicl) included, but were not limited lo= agreeing financial statement disclosures lo underfying supporting d0Mentabo', re2ding the minules of meetings of Ihose charqed ivith govema?ce'. enquiring of management as lo actual and potential liligabon and daims. There are inherent limilations in our audit procedures described at)ove_ The more retnoved that la%vs and regulations are from financkgl transacbons. the le55 likely it is that we woukj become aware of non-&)MlarTh. Audilin9 Standards also limit tho audrt procedures required to identify ntyKxJM1ane£ t laws and tsgulations 10 enquiry of thg directors and other management and the inspection ol regulatory and legal Coffe¥rKIece. Sf 8ny. Material misstatemenls that arise due to fraud can be harder lo detecl ihan those that arise from effor as they may invdve deliberate Concealment or collusion_ A further description of our iesFK)nsibililies is available on the Finar>I ReKM)rting Council's website al: https."Il vnNw.frc.org.ukJauditorSresponsibilrts. This descriptim foffns part of our auditof's report. Angela Craigan (Senior Ststutory Auditor) for and on bèhalf of Harbinson Mulholland Chartered A¢Gountants Statutory Auditor 6th Floor East Tower Lanyon Plaza 8 Lanyon Pla Bdfast Co. kntrim BT1 3LP Harbrnson Mulholland Is eligible for appoIntent a5 auditor of the Association by virtue of its eligibility for appointmenl as auditor of a company under seth.on 1212 of the Companies 2006.