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
Statel￿e11tS 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&lted 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 [](} I'¥alistic allei-Iialiv¢ bill to do su.
Auditor's i'esponsibilitiLs for the audit ot the finaiicial stitetllL'nts
We liavc bcen appoiiilcd as aLiditor Liiidcr thc Coinpaiiics Aet 2006 aiid r¢poit in accoi'daiice witli tlie
Act aiid i'elevant regulatioiis mil(le oi. haviiig ettecl tlicrcuiider.
Oui. objectives are to obtaii? re(Isoiiable a.%siiraiice al)oiil whetliei- tlie finaiicial stateineiil,q as a wliole
al-e free froiii iiiaterial niisst42lciiient, wlietlier due to fi-aiid oi. ciyor, and to issiie ali auditOl-'s rcpoi-t tliat
iiicliides OLII. opiiiion. Red.%oiial)le assiii-diiLe is a Iiigli level of a48ui-aiice, bijt is not a gLiarcl1)t¢c that ali
aii(lit Loiidiicled in accoi-daiiee witli ISAS (IJIC) Ivill always Iletect a 111lc tei'ial Inisstateiiiviit wlieii it
exisls. M isstalLmeiils uai) <21-ise fi'uiD fi'alid 01- ei'i-oi. aii(l al'e coiisidered Inaterial if. iiidividlially oi. in
tlic aggNI'cgate. thoy coiild reasoiiably bc expeLted to iiiflLieiice tlie eLonoinic dLcisioiis of users lakeii
oli the basis of Ihcsc fiiiELIILlcil slatcineiits.
Ei xtent to whicli the All(lit was capable of deteLting llrregiilaiities, ineludiiig frau(I
li'i'egiilarities, including fr(iud, ai'c iiistaiices of. noii-coiiipliaiice witli laws <2iid regiilatioiis. W¢ d¥sign
procediiies in lii)e witli oiir respoiisibilities, OLltliii¢d above, to dclcct Inateriic I Inisstateineiits iii respect
of ii'regJiilariti¢s, iiicliidiiig fraud. Tlie exlciit to wliicli oiir procediires are capable of dctectiiig
II'IEgiilai'itics, iiicliid iiig fi'aiid is detailed below..
We gained an iiiidcrstaiiding of the legal aiid tlie i'eguliltoiy fi'ainework applicable to tlie Cliai'itable
Coinpaiiy ¢ind tlie indLlStI'y in ivliicli it opei'ates aiid considered tlie I'isk of acts by tlie Cliai'itable
Coinpaiiy wliich wct¢ conti'ary to applicable laivs and regLII(Itioiis, iiiclLidiii&T fraiid. These iiiLliided but
wei'e iiot limited to compliaiice witli Coinpanies Acl 2006, FRS 102, Tlie Fiiiancial Rcporting
Standai'd applicable in the UK aiid Republic of Ireland.
We fociised on laws aiid reglilations tliat coiild give i'ise to mat¢rial Inisstatement in tlie fiiiaiicial
stateinents. Oiir tests incliided biit were iiot limited to-
a(riEeiT]eiit of tlie fiiiancial statement disclosiires to iiiiderlyiiibT SLipporting docLiineiilation'
eiiqiiiries of Imanagemeiil. aiid
coiisideriiig tlie effectiveness of tlie conts'ol eiivironiiieiit aiid Inoiiitoring coiiipliaiice willi Itiws
aiid regiilations.
We also ¢oiniTILiiiicated I'¢levaiit ideiitified laws aiid i'egu11ctions aiid poteiitial fraiid i'isk to all

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