FARSET DEVELOPMENT LIMITED INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF FARSET DEVELOPMENT LIMITED Oplnlon We have audited the financial statements of Farsel Development Lifflited (the 'charity') for the yew ended 31 March 2023 which comprise the statement of financial actIves, the balance sheet, the statement of cash flows and notes to the financial statements. including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and Untted Kingdom Accounting Standards, induding Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Iland (United Kingdom Generally Apted Accounting Practice). In our opinion. the financial ststements". give a true and fair view of the state of the charitable company's affairs as at 31 March 2023 and ol Its incoming resources and appllcatlon of resources, for the year then ended: have been properly prepared in accordance wlth United Klngdom Generally Accepted Accountlng Prac11.. and have been prepared in accordanGe with the requirements of the Companies Act 2006. Basis for opinlon We wnducted our audit in accordance with Intemational Standards on Audltlng {UK) (IS4$ (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsithltties for the audit ol th9 financial statements section of Our reporL We are independent of the charity in accordance vath the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibiliiies in accordance with these requirements. We believe that the audtl evidence we have obtalned Is sufficient and approprlate to provkle a basls for our opinion. Concluslons relatlng to going concèm In audltlng the financial statements. we have conduded that the tnjstees. use of the going concem basis of accounting in the preparation of the ffinaneial statements is approprlate. Based on the work we have perfomed, we have not Identtfied any material uncertainties tating to events or conditions that. individually or collectively. rnay cast significant doubt on the charity's ability to continue as a going concem for a period of at leasl twelve month$ from when the financial ststements are authorised for issue. Our responsibilities and Ihe responsibilrties of the trustees wth respect to going con¢em are described in the relevant sections of this report. Other inforniation The other infomation comprises the infom)ation included in the annual report other than the financial statements and our audilorfs report thereon. The trustees aTe responsible for the other infomiation contained within the annual report. Our opinion on the financlal staternents does not Cover the other inft)nnation and we do not express any fomi of assurance conclusion thereon. Our responsibilty is to read the other infonnation and. in doing so, oonsider whether the other infomiation is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit. or othemise appears to be materially misstated. If we identify such matersal inconsistencies or apparent material misstatements. we are qUired to detemiine whether this gives rise to a materlal mlsstatement in the financial ststements themselves. If, based on the Yrk we have performed, we ¢onclude that there is a material misststement of this other intonnation, we are required to report that fact. We have nothing to report in this regard. Matters on whlch are requlrod to rnport by excèptlon We have nothin9 to report in respect of the following matters in relation to vthich the Charities (Accounts and Reports) Regulatlons 2008 require us to report to you rf. in our opinion.. the infomiation given in the finanaal statements is inconsistent In any material respect wth the trustees. report., or sufficient accounting records have not been kept,. or the financial statements are not in a9reement with the accounting records.. or we have not received all the infonnation and explanations require for our audit.
FARSET DEVELOPMENT LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF FARSET DEVELOPMENT LIMITED Responslbllltles of trustses As explained more fully in the statement of trvstees, responsibilities. the trustees, who are also the directors of the charity for the purpose of company law. are responsible for Ihe preparation of the financial statements and for being satisfied that they glve a true and fair view. and for such Intemal control as the trustees detemiine is necessary to enable the preparation of financial statements that are free from material misstatement, vthether due to fraud or error. In preparing the finanaal statements. the trustees are responsible for assessing the charity's ability to continue as a going concem, disclosing. as applicable. matters related to golng concem and using the going concern basis of accountlng unless the trustees ether Intend to Ibquldate the charltable company or to C8ase operations, or have no realistic amematlve but to do so. Audltorfs responslbllltles for the audlt of the flnanclal statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objeclives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misststement. whether due to fraud or ermr, and to issue an auditorfs report that includes our opinlon. Reasonable assurance is a high level of assurance bLrt is not a guarantee that an audlt conducted in accordance wlth ISAS (UK) wll always detect a materlal misstatement when It exists. Misstatements Gan arise from fraud or error and are considered material rf. individually or in the a99regate. they could reasonably be expected to influence the economic decislons of useTS taken on the basls of these financial statements. The exlent to which our procedures are capable of detecling irregularities. includlng fraud, Is detailed below. A further descrlption of our spOnsibl11t1es is available on the Financial Reporting Council's website at.. https.'Il WtrV4V.frc.org.uklauditorsresponsibilities. This description fornis part of our auditorfs report. Use of our roport Thls report is made solely to the company's members, as a body. kn accordarte wrlh se¢tion 391 of the Companies Act 2014. Our audit work has been undertaken so that V•t mNJht state to the company's members those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest exient pemltted by law. we do not accept or assume responsibi1Sty to anyone other than the company and the company's members as body. for our audrt work. for this report. or for the oplnions we have fornd. Patrlck campbell ( enlor statutory Audltor) for and on behalf of Mlscampbell & Co 6 November 2023 Charternd Accountsnts Statutory Audltor 6 Annadale Avenue Belfast BT7 3JH Miscampbell & Co Is eligible for appointment as auditor of the charrty by virtue of Its eligibilty for appointment as auditor of 4 ¢ompany under sèction 1212 of the Companlès Act 2006.