The Cedar Foundation
Annual report for the year ended 31 March 2023
Independent Auditors, Report to the Members of The Cedar
Foundation
Opinlon
We have audited the financial statements of The Cedar Foundation (the 'Pa￿nt company'}
and its subsidiaries (the 'Group') for the year ended 31 March 2023 which comprise.. the
consolidated and company statements of financial activities., the consolidated and cornpany
balanGe sheets., the consolidated statement of cash flows, and the related notes. The financial
reporting framework that has been applied in their preparation is applicable law and United
Kingdom Accounting Standards, inGluding Financial 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 stalements..
give a tfue and fair view of the state of the Group's and of the parent company's affairs
as at 31 March 2023 and of the Group's and the parent company's incoming resources
and application of resources, including the Group's and the parent company's income
and expenditure. for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice,. and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinlon
We conducted our audit in accordance with International Standards on Auditing (UK and
Ireland) (ISAS) and applicable law. Our responsibilities under those standards are further
described in the Audilors responsibilities for the audit of the financial statements section of our
report. We are independent of th8 charity in accordance with the ethical requirements that are
relevanl to our audit of the financial statements in the United Kingdom and Ireland, including
the Financial Reporting Council's Ethical Standard, and w6 have fulfilled our other elhical
responsibilities in accordance with these requirements. We believe that the audit evidence we
have obtained is sufficient and appropriate to provide a basis for our opinion.
Concluslons relatlng to golng concern
We have nothing to report in respect of the following matters in relation to which the ISAS
require us to report to you where..
the use of the going concern basis of accounting in the preparation of the financial
statements is not appropriate., or
the Trustees have not disclosed in the financial statements any identified material
uncertainties that may cast significant doubt about the Group's or the parent
company's ability to continue to adopt the going concern basis of accounting for a
period of at least twelve months from the date when the financial slatements are
authorised for issue.
P￿ge 19

The Cedar Foundation
Annual report for the
ar ended 31 March 2023
Independent Auditors, Report to the Members of The Cedar
Foundation (continued)
Respective responsibilitles of Trustees and audltors
The Trustees are responsible for the other information included in the annual report. The other
infonnation comprises the information inGluded in the Annual Report, other than the financial
statements and our Audilors, Report thereon. Our opinion on the financial slatements does
not cover the other information and, except to the extent otherwise explicilly stated in our
report, we do not express any form of assurance conclusion Ihereon.
In connection with our audit of the financial statements, our responsibility is to read the other
information and, in doing so. consider whether the other information is materially inconsistent
with Ihe financial statements, or our knowledge obtained in the audit or otherwise appears to
be materially misstated. If we identify such material inconsistencies or apparent material
misstatements, we are required to determine whether there is a material misstatement in the
financial statements or a material misstatement of the other information. If, based on the work
we have performed, we conclude that there is a material misstatement of this Other
inforrnation, we are required to report that fact,
We have nothing to report in this regard,
Oplnlon on other matters prescrlbed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the Executive Commitlee Report including the Strategic Report
for the financial year for which the financial statements are prepared is consistent with
the financial statements., and
the Execulive Commiltee Report, including the Strategic Report, has been prepared in
accordance with applicable legal requirements.
Matters on whlch we are required to rèport by exceptlon
We have nothing to report In respect of the following matters in relation to which the
Companies Act 2006 requires us lo report lo you if, in our opinion..
adequate accounting records have not been kept, or returns adequate for our audit
have not been received from branches not visited by us. or
the financial stalements are not in agreement with the accounting records and returns.,
or
certain disclosures of Trustees, remuneralion specified by law are not made. or
we have not received all the information and explanations we require for our audit.
Responsibililies of Trustees
As explained more fully in the Trustees, Responsibilities Stalement, the Trustees are
responsible for the preparation of the financial statements and for being satisfied thal they give
a true and fair view and for such intemal control as the Trustees determine is necessary to
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The Cedar Foundation
Annual report for the year ended 31 March 2023
Independent Auditors, Report to the Members of The Cedar
Foundation (continued)
enable the preparation of financial statements that are free from material misstatement,
whether due lo fraud or error.
In Pfeparing the financial slatements, the Trustees are responsible for assessing the Group's
and Ihe parent company's ability to continue as a going concern. disclosing, as applicable,
matters related to going concern and using the going concem basis of accounting unless the
Trustees either intend to liquidale the Group or the parent company or to cease operations, or
have no realistic alternative but to do so.
Auditor's responslbllltles for tho audlt of the flnanclal statements
Our objectives are to obtain reasonable assurance about whether the financial statem8nts as
a whole are free from material misstatement, whether due to fraud or error, and to issue an
Auditors, Report that includes our opinion. Reasonable assurance is a high level of assurance
but is not a guarantee that an audit conducted in accordance with ISAS will always detect a
material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in
the aggregate, Ihey could reasonably be expected to influonce the 8conomic decisions of
users taken on the basis of these financial statements.
Irregulaflti8s, Including fraud, are instances of non-compliance with laws and regulations. We
design procedLJres in line with our responsibilities, oullined above. to detect material
misstatements in respect of irregularities, including fraud. The extent lo which our Pro￿dureS
are capable of detecling irregularities, including fraud is detailed below:
We considered the opportunities and incentives that may exist within the organisation for fraud
and identified the greatest potential for fraud in the following areas; timing of recognition of
income; and posting of unusual journals along with complex transactions. We discussed these
risks with client management, designed audit procedures to test Ihe timing of income, tested
a sample of journals to confirm they were appropiiate and reviewed areas of judgemenl for
indicators of management bias to address Ihese risks.
A further description of our responsibilities for the audit of the financial statements is located
on the Financial Reporting Council's website at: wMv.frc.org.ukJaudrtorsresponsibilities. This
description forms part of our Auditors, Report.
Use of our report
This report is made solely to the charity's members, as a body, in accordance with Chapter 3
of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might
state to the chaiity's members those matters we are required to state to them in an Auditors,
Report and for no other purpose. To the fullest extent permitted by law, we do not accept or
assume responsibility to anyone olher than the charity and its members, as a body, for our
audit work, for this report, or for the opinions we have fomied.
Page 21

The Cedar Foundation
Annual re
ort for the year ended 31 March 2023
Brian Clerkin (Senior Statutory Auditor)
for and on behalf of
ASM (8) Ltd
Chartered Accountanls & Statutory Auditors
Glendinning 14ouse
6 Murray Street
Belfast
BT16DN
26 September 2023
ASM (B) Ltd a￿ eligible to act as auditors in terrns of section 1212 of the Companies Act 2006.
Poge 22