Ulster-scots Community Network Company Limiled by Guaranlee Independent Auditor's Report to the Members of Ulster-scots Communlty Network Year ended 31 March 2024 Opinion We have audited the financial slalemenls ol Ulsler-scols Cornmunily Network Ilhe 'charily'l lor the year ended 31 March 2024 which comprise the siaiemenl ol tinancial activities lincluding income 2nd expenditure accounll. slalemenl ol liiiancial position and the related notes. including a summary ol significant accounting policies. The financial reporting framework Ihal has beon applied In their preparation Is applicable law and United Kingdom Accounting Standards. Including FRS 102 The Financial Aeporling Siandard applicable in the UK and Republic ol Ir81and (United Kingdom Generally Accepled Accounting Praciicel. In our opinion the financial slalemenls,. give a true and lair view ol the slate ol the charity's allairs as al 31 March 2024 and ol ils incoming resources an(J application ol resources. including ils income and expenditure. lor the year 11)en ended., have beeri properly prepared in accordance with United Kii)gdom Generally Accepled AccoLinling Praclice,. have beeli prepared iii accordarice with the requiremenls ol the Companie5 Act 2006. Basis lor opinion W8 condLJcled our audil in accordance with Inlernalional Slandards on Auditing IUKI IISAS IUKII and applicable law. Our responsibililies under those standards are ILJrlher described in the auditor's responsibilities lor the audit ol the financial slalemenls seciion ol our report. We afe independenl ol Ihe charily In accordance with Ihe ethical requirements Ihal are relevant lo our audit ol the financial slalemenls In the UK, including Ilie FRC'S Eihical Standard, and we have lullilled our oiher ethical responsibililies In accordance with these requirements. We believe Ihal Ihe audit evidence we have obtained is sullicienl and appropriate lo provicje a basis lor our opinion. Malerlal uncertainty relaled to going concern We draw allenlion lo noie 3 in the financial slalemenls, which indicates that in lorming our unqualified opinion, we have considered the adequacy ol the disclosures made in the financial slalemenls oncerning Ihe charity's ability lo conliniie as a going coricern. Short lerin grant funding horizons mean that Ihe org2nisalion musl apply lor core financial assistance on an annual basis and. al Ihe dale ol our audit report. whilst confirmation has been received IOT Ihe 2024 calendar year. Ihe charity is nol In receipt ol a leller ol oller exlendiiig beyond thai period. The linancial slalemenls havc been prepared on a going concern basis, Ihe validily ol which depènds on the continued supporl ol the harily's grant lunders. As slated in note 3. these events or condilions. along with the olher mallers as sel forth in nole 3. Iridicale Ilial a malerial uric8rtainly exists Ihal may cast 5ignilicanl doubl on the charity's ability lo conlinue as a going concern, Our opinion is not modified In respocl ol this rnaller. Our responsibilities and the responsibililies ol the directors with respect lo going concern are described in the relevant sections ol this report. 10
Ulster-scots Community Network Company Limlted by Guarantee Independent Auditor's Report to the Members ol Ulster-scots Community Network (¢onlinued) Year ended 31 March 2024 Other inlormatlon The other inlorrnalion comprises the information included in the annual report, other Ihan the financial slalemenls and our auditor's report Ihereon. The directofs are responsible for the other inforrnalion. Our opinion on Ihe linancial 51alem8nls does nol covei the other inlormalion and, excepi lo the exlenl otheiSe axplicilly slaled in our report, we do not express any lorm ol assurance conclusion ther&on. In connection with our audit ol the linancial slalemenls, our r8sponsibility is lo read the olh8T information and, in doing 50, consider whether the other inlormalion is materially inconsislenl with the financial slalemenls or our knowledge obtained in the aLJdil or olherwse appears lo b8 materially misslaled. 11 we idenlily Such material inconsislencigs or apparenl material misslalemenls, we are required lo determine whether there is a material misslalemenl in the financial stalemenls or a material misslalemenl ol the other inlormalion. 11, based on the work we have performed, we conclude that there is a material misslatemenl ol this other information, we are required lo report that lacl. We have nolhing lo report in this regard. Opinlons on other malters preserlbed by the Companles Act 2006 In our oplnion, based on Ihe work undertaken in the course ol the audit.. the information given in the di18Glors' report lor the financial year lor which the financial slalemenls are prepared is consislenl with th8 financial slalemenls.. and the directors. repoil has been prepared in accordance with applicable legal requirements. Malters on whlch we are requlred lo report by exceptlon In the light ol the knowledge and understanding ol the charity and ils environrn8nl obtained in the Couise ol th8 audit, we have not idenlilied rnalerial misslalemenls in the dir8¢lors' report. We have nothing lo report in respe¢t ol the following rnatleis in relation lo which the Companies Acl 2006 requires us lo reporl lo you il, in our opinion.. adequate accounting records have nol b8en kept, or returns adequate lor our audit have not been received from branches not visited by us., or the financial slalernenls are not in agreement with the accounting records and returns", or erlain disclosures ol directors. remLtneration specified by law are not made; or we have not received all the information and explanalions we require for our audit. 11
Ulster-scots Community Network Company Llmlted by Guarantee Independent Auditor's Report lo the Members of Ulster-scots Communlty Network (contInu1 Year ended 31 March 2024 Responsiblllties ol dlrectors As explained more lully in the directors, responsibilities slalemenl, the directors (who are also the direGlors for the purposes ol company lawl are rèsponslble lor th8 preparation ol Ihe linanclal stalemenls and lor being salislied that they give a true and lair view, and lor such internal control as the directors determine is necessary lo enable the preparation ol financial slalements Ihal are free Iroffl material fnisslalemenl, whether due lo fraud or error. In preparing the linancial slalemenls, the directors are responsible lor assessing the charity's ability to continue as a going concern, disclosing, as applicable, mallers felalecl lo going concern and using Ihe going concern basis ol accounting unless the directors either intend lo liquidate the charity or 10 cease OP8ralions, or have no realistic allernalive bul lo do so, 12-
Ulster-scots Community Network Company Limited by Guarantee Independent Auditor's Report to the Members of Ulster-scots Community Network (conlinued) Year ended 31 March 2024 Audltor's responsibilities for the audit of the tinancial stalernenls Our objectives are lo obtain reasonable assurance about whether the financial slalemenls as a whole are ITee from material misslalomeni, whether due lo fraud or error, and to issue an auditor's report Ihal includes our opinion. Reasonable assurance is a high level ol assurance, bul is not a guaranlee that an audit conducted In accordance with ISAS IUKI will always delecl a malerial misslalernenl when il exisls. Misslaiem8nls ¢an arise ITOM fraud or efroi and are considered malerial il, individually or in the aggregale. they could reasonably be expecled lo Influence the economi¢ decisions ol users laken on thè basis ol these financial sialemenls. Irregularities, Including Iraud. are instances ol non-Gompliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, lo éelecl rnalerial misslalemenls in respect ol Irregularilies. including fraud. The exlenl lo which Qui procedures are capable of de18cling Irregularities, including fraud is detailed below.. Ouf approach lo idenlilying and assessing the risks ol material misslalemanl in respect ol Irregularities, including fraud and non-compliance wilh laws and regulations, was as follows.. the engagement partner ensured thal the enqagemenl team collectively had the appropriate competence, capabilities and skills lo i¢Jenlily or recognise noii-corTipliance wilh applicable laws an(i regulations., we identified the laws and regulations applicablc lo the Company through discussions with Iruslees and other management.. we assesseé the exlenl ol compliance with Ihe laws and regulations idenlilied above through making enquiries ol management and inspecting legal correspondonce.. and idenlilied laws and regulations were communicated within Ihe audit team regularly and the learn remained alerl lo inslances ol non-c.ompliance throughout the audit. Wc assessed Ihe susceplibilily ol the companvs financial slalernenls lo material misslalemcnl, including obtaining an understanding ol how Iraud Irighi occur, by.. making enouiries ol manageinenl as lo where Ihey considered there was susceplibilily lo fraud, their knowledge ol actual, suspected and alleged fraud,. and consideling the inlernal controls in place lo miligale risks ol fraud and non.cornpliance with laws and iegulalions. To address the risk ol Iraud through management bias and override ol controls. we.. performed analytical procedures lo identify any unusual or unexpected relalianships,. lesled iournal enlries lo Idenlily unusual Iransaclions., and assessed whether jLidqernenls and assumptions rnade In determining Ihe accounting eslimales sel out in note 3 were indicative ol potential bias. In response lo the risk ol irregularities and non-compliance with laws and regulalions, we designed procedures which inGluded, bul were not limiled lo". agreeing financial slalernenl disclosures lo underlwng 5UPPOrting documenlalion,. 13
Ulster-scots Community Network Company Limited by Guarantee Independent Auditor's Report to the fvlembers of Ulster-scots Community Network (Gvn¢inuedl Year ended 31 March 2024 reading rhe minutes ol meetings ol Ihose charged with governance.. and enquiring ol management as lo actual and polenlial liligalion and Glairns. There are inherent limitations in our audit procedures de5crib8d above. The rnore removed that laws and regulalioll5 are Irorn linancial Iransaclions. the less likely il is that we would become aware ol non- carnpliance. Auditing standards also limit the audil procedures required lo identify non-compliance wilh laws and regulations lo enquiry ol the directors and other management and the inspection ol regulatory and legal correspondence, Il any. Material misslalemenls Ihal arise due lo fraud can be harder to delecl than those Ihal arise from errol as they may Involve dellberale concealment or collusion. As parl ol an audit In accordance with ISAS IUKI. we exercise professional iudgmenl and mainlain prolessional scepiicism Ihroughoul the audil. We also., Iclenlily and assess th8 risks ol malerial misslaleinenl ol the IinanGial 51alem8nls. whether due lo fraud or error, design and perform audit procedures respofflsive lo those risks. and obtain audit evidence Ihal is sullicienl and appiopriale lo provide a basis for our opinion. The risk ol nol delecling a material misslalemenl resulting from fraud is higher than lor oiie resulting Irom erfor, as fraud may Involve collusion, forgery. intentional omissions, misrepresenlalions. or the overiide ol Internal control. Obtain an underslandinq ol internal control relevant lo Ihe audit in order lo design auéil procedures that are appropriate In the circumstances, bul not for the purpose ol expressing an opinion on Ihe ellecliveness ol the in18rnal control. Evaluate the approprialenes5 01 accounting policies used and the reasonableness ol accounting eslimales and related disclosures made by the directors. Conclude on the approprialeness ol Ihe diTeclors' use ol rhe going concern basis ol accounting and. based on the audit evidence oblained, whether a material uncertainly exists relaled lo evenls Of conditions that may casl signilicanl doubl on the charily's abilily lo continue a5 a going concern.11 we conclude that a material uncertainly exists, we are required lo draw allenlion In our auditor's report lo Ihe related disclosures in Ihe financial sla18menls or, il such disclosures are inadequate, lo modify OLJr opinion. Our conclusions are based on the audit evidence Dblained up lo the dale ol our audiior's reporl. However, lulure evenls or conditions may cause lh8 charity lo cease lo continue as a going concern. Evaluate the overall presentation. structure and conlenl ol Ihe linancial sial&m8nls, including the disclosures, and whether the financial slal8menls represent the underlying transactions and events In a manner Ihal achieves lair presentation. 14-
Ulster.Scots Community Network Company Llmited by Guarantee Independent Auditor's Report to the Members ol U18ter-Scots Community Network fconllnued) Year ended 31 March 2024 We communicate with those charged with governance regaiding. among other mallers, the planned scope and liming ol the audit an(J signilicanl audit findings, including any significant deficiencies in Inleinal canlrol Ihal we identify during our audit. Use of our report This report is made solely lo the charily's members, as a body, in accordance with Chapler 3 01 Pafl 16 ol the Companies Act 2006. Our auclil work has been undertaken so that we might sla181D the charSiys members Ihose mallers we are required lo slate lo them in an auditor's report and lor no other purpose. To Ihe ILtllesl exlenl permilled by law, we do not accept or assuTne responsibility lo anyone other than Ihg charity and the charilvs members as a body, lor our avdil work, lor this report, or lor the opinions we have lormed. John Mage enior Slaluloiy Audilorl For and on behalf ol Aubrey Campbell & Company Chartered accounlanls & slalutory auditor 631 Lisburn Road Bellasl BT9 7GT 20 December 2024 15-