Page 6 ARDBARRON TRUST LIMITED COMPANY LIMITED BY GUARANTEE Independent auditor's report to the members of Ardbarron Trust Limited Year ended 31 December 2022 Oiiinion on tlie financilll statements We Iiave audited tlie financial statejnents of Ardbai-i-on Tiust Lijnitcd ("the Chat'itablc Coinpany") t.or tlie yeai. elided 31 DeLeinbei' 2022 wliicli coinprise tlie stateiJ)eiit of financiAI activities (incoi'poratii)g the income aii(l expenditliie accoiiiit). the balaiice slieet, the casli flow stateineiit aiid notes to tlie fiiiaiiLial sldteiTteiils. illLliiding a SLiminary of sigiiiificaiit accouiiting pol icies. I'lie fiii<2iicial reportiiig tr(Imewoi'k tliat lias b¢¢n applied in Ilieii. prep¢ll'alion is applicable law and Uiiitcd Kii)gdoin Accoiiiitiiig Staiidai'ds, incliidiiig loinaiicial R¢porlinbJ Staiidai'd 102 The Fiiiaiicial Reporting Standard applicable in tlie UK aiid RepLiblic of Irelaiid (United Kiiigdoin Geiicrally A¢cepted AcLOLinlii) Practice). In oiii- opiiiioii, tlie fiiiaiicial st<ltemeiits= givc a ti-iie and fail. vicw of tlic state of the Ch¢irilable Company's affaii's as al 31 Deceinbei- 2022 aiid of its incomiiig I'csoiirces aiid appl iccilioii of resoiii-CLS for tlic year tlieii elided; Iiave be¢ii pi'op¢i'ly pi'ei)ai'eil in accni'dance Nvitli Uii ited Kingdoim Gei)ci'ally Accepted Accoiintiiig Pi <l¢tic¥; aiid liave been pi-epared iii accordaiice witli tliL rcquireineiit5 of th¢ Compaiiies Act 2006. Basis for opinioii We coi)diicted oiii- aiidit li) accordaiice witli IiitLI'i)atioiial Staiid<irds on Aiiditiii(y (UIC) (I.SAs (UK)) and apijlicable law. Our i-espoiisibilities undei. those standai'ds at'e tiiitlier desci'ibed in tlie Aiidiloi s i'espoiisibil ities foi. tlie aiidit of the tin<iiicial statcinenls 5ectioii of oui- I'eport. JudependLnce We arc ii)depcndeiit of thc Cliaritable Cotnp£illy ii) ciccorclaiice willi IIIL elliical reqiiiiymeiil.s relevant to our aiidit of the titiancial statenients in tlic UK, inclucling the F RC'S EtliiLal Standai'd cind we Iiave fiilfilled Olir otlicr ¢tliiLal respoi)sibilities iii accordaiice with these i'cqiiireineiits. We bclicve tliat tlie audit cvideiice Ive liave obtaiii¢d is sufficieiit aiid appi'opt'iate to provide a basis for our opinion. ConclusiDIi.4 I'elated to going eoiicern Iii c1uditiiig tlie fiiiaiicial statciiieiits, we liave eoiiclud¢d tliat the tru.£tees' use of tlie goiiig concern basis of accoiinting iii tlie pi-eparalion of tlie finaiicial stateinents is appi'opriale. Based on tlic woi'k we liave perforin¢d. we liave iiot identified any ma(erii¢ l uncei'taiiities I'elating to eveiits or conditioiis t111< t, individiially or collectively, may cast sigiiifi¢ant doiibt oli the Charitable Coinpany, s ability to coiitiiiii¢ as a going coiicei'n foi. a pei'iod of at least twelve Inontlis fi'om ivlien tlie finaiicial statements ar¢ aiitliorised for issiie. Our respoiisibilities and tlie I'¢spoiisibilities of tli¢ Ii'iistees ivith i'espect to goiiig concei'ii are desci'ibed in tlie I'elevant sectioiis of tliis report.
Page 7 ARDBARRON TRUST LIMITED COMPANY LIMITED BY GUARANTEE Independent auditor's report to the members of Ardbarron Trust Limited (contlnued) Year ended 31 December 2022 Other information Tlie triistees are respoiisible for tlie olliei. infui'm<ilion. Tlie oLlier ii)forinatioii coinpi'is¢s tlie Aiiforination includcd in tlie Annual Report, othei. tlian Ilie finanLi(tl stalLincrAts and oui. aiidiloi s i-eport tliereoii. Oiii. opiiiioii on tlie fiiiancial statCiTÈents does not covcr tlie other informatioii and, except to tlie extent otheiwise ¢xplicitly stated in oiii. IEPOrt, w¢ do iiot express any foi'in of assurance coii¢ILisian tliereon. Our respoiisibilily is to read tlie otlier iiiforin(Itioii and, in doi13g so, considei. wIILtlier tlie otlier iiiforiiiatioi) is niaterially incoiiqisteiit witli ihc finaiicial stateiiienls or our kiiowledge obtaiiied iii tlie alidit oi. otliei-wise ai)i)eai's to be Imatei'ial ly Inisstated. If we ideiitify SLILh matLrial inconsistL'iicies or appar¢iit Inatei-i(Il In isstaleineiits, we 1¢ r¢ I'eqiiii-ed to detci-iiiiiie Nvhetlier tliere is a material rni5sl42tcinent in tlTre fincliicial stalemenls oi. a matei-i<il Tnis%t2( teinent of the otlier iiilorination. If, bascd on tlic woi'k we have perforiiied, we coiicliide tl)ai iliere is a Inalerial Inisstalenieiit of tliis other iiifoi-lnation, wc arc i-equii-cd to r¢port that t¥1Ct. We liave notliiiig to report iii tliis regard. Othci. Compaiiies ALt 2006 l'epoi'ting In viir opiiiioii, bciscd oil tlie work iindLltakei) iii tlie COLII'SC of the alidit: tlie infoiination given in the 'l'rustees' Report, whicli inLlucles the Dii-eLtois' Report prepared tor the pui'i)oses of- Coinpaiiy Law, toi. thc finaiicial yeai. I'or wliicli tlie fiiiaiicial stl<ten]eiils are pi'ei)ared is consisteiit Nvitli tlie f iii(Incial staleineiits- &111d tlie DiTectorb' Report, wliicl? are incliided iii the Trustees, Repoit, lias l)een i)i-epai-ed in accoi-dance witli appliLable 1¢g[ i-eqiiii-eiMenLs. In the liglit of ilic kiiowledge aiid iiiiderstandiiigy of IliL Clicll'ilcible Compaiiy and its ci)viroiiiiieiit obtaiiied iii tlic coiii'sc of tIiL aiidit, wc have iiot idoiitified m<lterial Inisstuteinents in (lie -1 riislees. Ilepoi-t. We liave iiotliiiig to report iii respect of tlie following Inatters iii I'elation to wliicli the Compaiiies Act 2006 IEqLiires lis to repoit to you if, in oiii. opiiiion. adeqiiate accounting i'ecords liave iiot been kept, oi. I'etLirns adeqiiate foi. Qlir alidit liave not been received froin braiiclies not visited by lis. oi. the financial stateii)ents al'e iiot iii agi'eemeiit with tlie aceouiitiiig recoi-ds aiid retui'ns- or certaiii disclosiires of triist¢es' reiniinei'al'ioii specified by law ai-c not Inade. oi. we have iiot i'eceived all tlie iiiforinatioii aiid exi)laiiatioiis we reqLliI'e foi. oui. Alidit; oi. tlie trustees iv¢r¢ iiot entitled Co prepai'e the finai)cial stateineiits iii accoi'daiice with tlie stnall conipanies i-egiiiie aiid tak¢ advaiitage of tlie sillall coinpanies, exeinpLions in pi'epariiig tlie DirectoiB' Repoit aiid fi'oin tlie i'eqiiii'emeiit to pi'epai'e <1 Strat¢gi¢ iEPOIt.
Page 8 ARDBARRON TRUST LIMITED COMPANY LIMITED BY GUARANTEE Independent auditor's report to the members of Ardbarron Trust Limited fcontlnu8(J) Year ended 31 December 2022 Resiioiisibilities of triislees As explaiiied Inoi'e flilly in Ilie li-ustLe5' I'csponsibilities stattsinent, the Iriislees (wlio are also tlie diitctoi's of tli¢ cli<iritable coinpui)y foi. the piii'p05e5 of coinpany law) ai'¢ IEspoiisible foi. Ihe preparation of thc fiiiaiiei(Il slatcinents aiid foi. being satisfied tliat they give a triie aiid tail. view, and foi. siicli iiiteriial control as tlie ti'iistees determiiie is iiecessaiy to eiiable the prepai-atioii ol." Iinancial Statele11tS tl)at are free froin ITtatei-ial misstateinenl, wlietl)er due to fraiid oi. ei'ror. In pi'epai'iiig tlie fiiiaiicial Slat¢]elits, tlie triistees are respoiisible for assessing tl)e Cliaritable Compaiiy's ability to continue as a goiiig coiicerii, di.%Llosiiig, as aiii)Iic¢ible, matters rel<ed to goiiig coiicei'ii <111d iisiiig tlie goiiig coiicerii b(15is of aceoiiiitiiig iinlcss Ilie tr115tee.s either iiiteiid to liqiiidate tlie Cliaritable Coinp(Iny or lo eease opei-<ltioiis, oi. li&ive l
Page 9 ARDBARRON TRUST LIMITED COMPANY LIMITED BY GUARANTEE Independent auditor's report to the members of Ardbarron Trust Limited (contlnuedj Year ended 31 December 2022 engagemeiit teain Ineinbei's aiid I'eiiiaiiied alert to aiiy indicalions of fraud oi. i)on-coii)pliance witl) laws aiid regiilatioiig tliroiiglioiil the alidil, Tliere at'e iiil)ei'ent IiiT]itations in th¢ alidit pi'occdui'es desLribcd above aiid the fLiiih¢i' i'emoved iioii-coinpliance witli laws and I'¢giilatioiis is from eveiits and traiisactioiis reflected in tlie financial stmteineiits, tlie less likely we woiild beconie aware ot" it. As iii all of oiir aiidits we addi'¢ssed tl)e risk of InL11iaLyeineiit override of intei'iial contix)l.q, iiicliidiiig testiiig jOLlI'll<ils aiid evaluatiiiir wliether there was evideii¢e of bias by Ilie direcloi-5 tli¢1t i'epi-eseiite(l a I'isk of m(Itei'ial In isstic teineiit diie to fraud. Oiii. aiidit i?I'ocediii'es were dLsigncd to I'espun£l lo I'isks of ITllc Ici'ial inissl2( teiiieiit iii the fiiiaiicial stateineiils, reeognisiiig tliat tlie i'isk of Iiot dLtccliiig a Inatei-ial iiiisslEiteineiil dLie to fraiid is higliei. tliaii Ilie i-isk of iiol detecting one I'esislling fi'oin ci-l'or, as fraiid Inay iiivolve dLlibei'alL conLealinLlIt l)y, foi- exdmple, forgei'y, Inisrepi'eseiit<ltion8 oi. tliroiigli colliisioii. Tl)crc al'e iiiliereiit limitaliun.b iii tlie aiidit pi'ocediii'e.s pertoi'ined and tlie fiiri'her I'eillovLd iioii-complilc nce witli laws aiid regiilatioiis is rroin (he eveiits aiid traiisacti011s reflected iii tlie financial statemciits. tlie less likely we c11'C to becoinc awai'e of it. A fui'tlier clcseriptioii of our irspoiisibilitiLS for the diidil of tlie fiiic1ncial stateiiieiit8 is localed at tlie Financial Repoiting Council's ("FRC"s") website <ll: litt s.'Ilwww.fi-¢.oi' y iik/(tii(litoisres oiisilji lities. Tliis desci-iption fornis pait of our auditor's rcpoi-t. Ilse of oiii. rei)oi"t I'his i'epoic is Inade solely to tlie C.l)ai-itÉil)le Coinpany's niembci's, as a body, in accordance with Cliapl¥i' 3 of i)ai-t 16 of tlie C.OlllPAI)ies Act 200C). C)Iir audit woi-lc has becn uiidert1c ken so tlilit wc I]1 state to the Charitable Coinpany's Lnenibers tliose mattcrs we are i'cqiiii'ed to state to tlieni iii ali auditor's i-eport <ind foi- no othei piii-pose. To die fiillest extent pei'mitted by law, we do not accept oj. aSSLiine respoiisibility to anyonc otliei- tlian ilie Chai-itcible Company li nd tlie C,liai'ital)le Coiiipaiiy's Ineinbers as a body, foi. Olir aiidit woi'k, for tliis Irpoi't. oi. tor tlic opinioiis we hdve formcd. Laiira S V Jacksoii, seiiioi. statLltory aiiditor ror aiid on behalf of BDO Nortliei'n Ircland, statiitory auditor Melro Biiildiiig, I 51 Floor 6-9 Doiiegyall Sqiiai'e Soiitli Belfasl BTI 5JA 5 Scpteinbei. 2023