Ulster Garden Vlllages Limlted
Independent audttors, report to the Committee of Management of U181èr Garden Willages Limlted
Opinlon
We have audiled the financial statements of Ulster Garden Vlllages Limited ('the Charity) for the year ended 31
December 2022 whlth comprise the Statement of fir￿￿la1 activities, the Balance sheet. the Staternent of cash
flows and the related notes, induding a SLrmmary of stgnificant accounting policies. The financial reporting
framework that has been appli&l in their preparation is applicable law and United Kingdom Accounting
Standards, including FinanrAal Reporting Standard 102 The Financial Reporting Standard appAcable in the UK
and Republic of Ireland. (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements".
give a true and fair view of the state of the charitat4e cornpanvs affairs as at 31 December 2022 and of its
inc(Mning resources and application of resources, including Its inu)me and expendtture for the year then
ended:
have been propedy prep8red In Sccordancg with United Kingdom Genarally Actspted Accounting
Practic8: and
have been prepared in accordance wlth tha requirements of Th8 Charities Act (Northem Ireland) 2008 and
Regulation 8 of the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015. the Industrial
and Provident s￿let1&s (Northem Ireland) 1969 and the Industrlal and Provident Scdetles (Northern
Ireland) Order 2006 as amended by the Credit Unions and Co-operdtive and Communily Benefit Societies
Act (Northern Ir8land) 2016.
Basis for oplnlon
We i>Jnduct8d our audlt In accordance with Internatlonal Stsnd8rds on Auditing (UK) (ISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditors. responsitmlities for the audit
of Ihe finandal Statements sectton of our report. We are independent of the tharitable company in aco)rdan
with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom.
induding Financ4al Reporting Councifs Ethitxl Standard. and we have fvlfilled our other ethical
responsibilties in accordan￿ with these requirements. We believe that the au¢fit ￿Idence we have obtalned is
sufficienl and appropriate to provide a basis for our opinion.
Going Concern
In aL￿ttIng the financial statements, we have concluded that Ihe Cornmittee of Management use of the going
Con￿rn basis of accounting in the preparation of the financial slaternents is appropriate.
Based on Ihe work we have performed. we have Thjt Identified any materfal uncertainlies relating to events or
conditions that, individually or collectively. may cast signif￿ant doubt on the charitable companys ability to
continue as a going concern for a p8riod of at least ￿e1ve months from when the financial statements are
authorfsed for issue.
Our responsibilities and the re5ponsibifities of the Committeè of Management with reSp￿t to going concern are
described in the relevant sections of thls report.
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Ulster Garden Willages Limited
Indepondent auditors. report to the Committee of PAanagement of Ulster Garden Villag88 Lim Ited
(Gontinued)
Olhèr Inforniation
The other information comprises the Infomiat￿tn included in the Annual report other than the financial statements
and our Auditors, report thereon. The Committee of Management are responsible for the other information
contained within the Annual report. Our OPTnion on the financial statements does not cover th8 Other information
and. eKcepl to the extent otherwise explicitly stated in our report. we do not express any fom) of assurance
conduslon Ihereon. Our responsibility is to read the other informalion and, in doing so, consider whether Ihe
other information 15 materially inconsistent with the financial statements or our knowledge Dbtalned in the course
of the au(fit, or otherwise appears to be Material￿ misstated. If we identify such material inconsistencies or
apparent material misslatements, we are required to determine whether this gives rise lo a material
rn1SStalement in the financial stat8m8nts themselves. If, based on the work we have p8rformed. w8 conclude
that there is a material misstatement of this other inforniation. we are required lo report that fact.
We have nothing to report In this regard.
Oplnlons on other matters prescrlbed by The Charities Aet (Northern Ireland) 2008 and
Regulatlon 8 of the Charities (Accounls and Roportsl Regulations (Northorn Iroland) 2015, the
Industrial and Provldent Soclelles (Northern Ireland) 1969 and the Industrlal and Provident
Socletles INorthern Ireland) Order 2006 as arnended by the Credlt Unlons and Cowoperatlve and
Comfflunity Beneflt Societies Acl (Northem Ireland) 2016
In our oplnbn. based on th8 work und8rtaken in the course of the audit:
th6 infom18tlon glven In the Commlttee of Management Report for the financlal year for which the Ilnancial
statements are prepared is conslstent wlth the finandal statements: and.
Ihe Commlttee of Management report has been prepared In accordance wlth applkable legal
requirements.
Matters on whlch we are required to report by exception
In the light of our knowledge and understandiNJ of the charitable ￿)rnpany and its environment obtained in the
course of the audit. we have not identlfled material misstatements in the Committee of Management report.
We have nothing to report in respect of the following matters in relation to which legislation requires us to report
to you if. in our opinion-
adèquate accountlng records have not been kept. or returns adequate for our audit have nol been
received from branches not visited by us." or
the financlal statements are not in agreement ￿th the accounting records and r8tums,' or
certaln dlsclosures of Commlttee of Managemenl remuneratlon sperAf18d by law are not made. or
we have not received all the Infomiatlon and explanatlons we require for our 8udlt", or
the Committ88 of Management were not enlltled to prepare the financlal statemenls In acccKdance with
the small companles reglme and L8ke advantage of the small companles, exemplions in prèp2riro the
Cornmlttee of Management's report and from the r8qulr8ment to prepare a Slrateglc report.
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Ulster Garden Villages Limited
Independent auditors. report to Ihe Committee of Management of Ulster Garden Villages Umll•d
{continuedl
Responslbilltlos of tha Comffllttee of Management
As explained more fully In the Trustèes, responsibilities ststement. the Commlttee of Management are
resrKfynslble for th8 preparation of the financial 8tat8m&nts and for belng satisfied that th8y give a true and fair
Vlew, arjd for such internal control as thè Commlttee of Management datermine Is necessary to enable the
prepardtion of financi81 stataments Ihat are free from material misstatement, whether due to fraud or error.
In preparing Ihe financial stat8m8nts. the Committee of Manag8ment are responsible for assesslng the
charitable companvs ability to continue as a going concern. discloslng, as applicable, maltars related lo going
concem and uslng the golng concem basls of accounting unless the Commlttee of Management either intend to
Ilquidate the charitable company or to cease operatbjns, or have rKJ reallstlc altemative but to do so.
Audltors. responsibllltl88 for the audlt of the financlal statsmenls
Our otyectlves are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misslaternent, 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 guarante& that an audit conducted In
accordance with ISA5 (UK) wll always dete¢t a material misstatement when it exists. Mi8stat8ments can aris8
from fraud or error and ar8 considered material If, Individually or in th8 aggregate. they could reasonably be
8xpected to influence th8 économic declsions of users taken on Ihe basis of these financial statemènts.
1rr8gularlties, induding fraud, are instances of non-complian￿ wlth laws an'd r8gulalions. We deslgn procedures
In Ilne with our r6sponsibilitles. outlined at)ove. to d8t8Ct material misststernents in respect of irregularitles,
including fraud. The extent to which our procedures are capable of d8tecting irr8gularlties. Including fraud is
detailed below..
We gainad an understanding of the legal and r8gulalory framework applicable to th8 Charity and the Industry
in vlhich they operate. and considered the risk of acts by the Charity that were contrary to applicable laws and
regulations. includlng fraud. Vve considered the opportunities and Incentlves that may exist within the Charity
for fraLKI and idenlified the greatest pot8ntial for fraud in the folkJwirvJ ar8as' management override of controls.
W8 d8signed audit procedures to ￿Spond to these rlsks. recognlsing that the risk of not detectlng a material
mlsstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may Involve
deliberate concealment by, for example, forgery or Int8ntional misrepresèntations, or through collusion. Our
audlt pr￿dureS included: 8noulrl8s of management aboul their own idenllfication and assessment of risks of
irregularities. testing the deslgn and implementation of controls relating to the risk and sampla testing of Joufftals
posted durlng the year.
Because of the inherent limitations of an audit. there is a risk that W8 will not d8tect all irregularitles, Including
those leading to a material misslatement in the financial ststem8nts or non-complSance with regulation. Thls risk
increases the more that compllance with a law or regulatlon is removed from the events and transactions
reflected in Ihe flnanclal statements, as wé will be less likely to become aware of instances of non-compliance.
The risk Is atso greater rag2rding Irregularities occurring due to fraud rather than error, as fr8ud invo￿5
intentional concealment. forgèry, collusion, omission or mlsrepresentatlon.
A furthèr description of our responslbilities for Ihe audit of the financial staternents is located on the Financial
Reportiro Council's webstle al: www.frc.or
-uklauditorsres
Audltors, repjrt.
onsibilities. This description forms part of our
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Ulster Garden Villages Limited
Independont auditors. report to tho Commlttae of Management of Ulster Garden Vlllages Limltad
(continued)
Use of our report
This report is made solely lo the Gharitable Gompanvs members, as a body, in accordance with Secfion 65 of the
Charities Act (Northern Irela￿1) 2008 and Regulalron 8 of the Charities (Accounts and Reports) Regulations
(Northern Ireland) 2G15 and Section 43 of tha Industrial and Provident Societies (Northem Ireland) 1969 and the
Industrial and Provident Societies (Northem Ireland) Order 2006 as amended by the Credit Unions and Co-
operative and Community Benefit So¢ietles Act (Northem Ireland) 2016. Our audit work has been undertaken so
that we might slate to the charitable Companls members those matters we are required to slate to them in an
Auditors, report and for no other purFose. To the fullest extent permitted by law, we do not accept Of assume
responslbllity lo anyone other than the charftable company and Its members, as a body, for our audit work, for
this report, or for the opinions we have formed.
Brian Clerkin (Senlor statutory audltor)
for ar¥J on behalf of
ASM (B) Ltd
Chartered Accountants and Statutory A￿tt￿r
4th Floor
Glendinnlng House
6 Murray Street
Belfast
BT16DN
21 March 2023
ASM (B) Ltd are 81igible to act as auditors in terms of section 1212 Df the Companies Act 2006.
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