ourne Sti
ul Limited
Charitabl C
an
it
b Guaran
IN
th
EPENDE
DITO
ed31Ma
ch
RE
024
OR
t th Dir
tor
f Mourn
sti
ulu
en
ed for
Opinion
We have audited the financial statements of Mourne Stimulus Limited ('the charitable
company,) for the year ended 31 March 2024 which comprise the Statement of Financial
Activities, the Statement of Financial Position, the Statement of Cash Flows and the related
notes to the financial statements, including a summary of significant accounting policies. The
financial reporting framework that has been applied in their preparation is applicable law and
United Kingdom Accounting Standards, including FRS 102 "The Financial Reporting Standard
applicable in the UK and Republic of Ireland" (United Kingdom Generally Accepted Accounting
Practice).
Thls report Is made solely to the charitable company's Directors, 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 charitable company's Directors those matters we are required to state to
them in an auditor's report and for no other purpose. To the fullest extent permltted by law, we
do not accept or assume responsibility to anyone other than the charitable company and the
charitable company's Dlrectors as a body, for our audit work, for this report, or for the opinions
we have formed.
In our opinlon the flnancial statements:
Give a true and fair view of the state of the charltable company's affairs as at 31 March
2024 and of its total incoming resources and expenditure of resources, Includlng its
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 requlrements of the Companies Act 2006.
Basis for opinion
We conducted our audlt In accordance with Internatlonal Standards on Auditing (UK) (ISAS
(UK)) and applicable law. Our responslbilities under those standards are further described In the
Auditor's responsibilities for the audit of the financlal statements section of our report. We are
independent of the company in accordance with ethical requirements that are relevant to our
audit of the flnancial statements In the UK, Sncluding the FRC'S Ethical Standard, and we have
fulfilled our other ethical responsibilities in accordance with these requirements. We believe that
the audit evidence we have obtained is sufficient and appropriate to provide a basls for our
opinion.
Concluslons relating to going concern
We have nothing to report in respect of the followlng matters in relatlon to which ISAS (UK)
require us to report to you where..
the directors, use of the going concern basis of accounting in the preparation of the
flnancial statements is not appropriate,. or
the directors have not disclosed in the flnancial statements any identified material
uncertainties that may cast significant doubt about the charitable company's ability to
continue to adopt the golng concern basis of accounting for a period of at least twelve
month5 from the date when the financial statements are authorised for Issue.
CavanaghKelly. Chartered Accountants & Statutory Auditors
Page17

Mourne Stimulu
Charita
Limited
rante
INDEPENDENT A
North
rn Irelan
DITORS. REPOR
Limited for the
o th Dir
ear ended 31 March 2024
e Verbal
Continued
tre
Other Information
The directors are responsible for the other information. The other information comprises the
information included in the Directors, Report, other than the financial statements and our
Auditor's Report thereon. Our opinion on the financial statements does not cover the other
information and, except to the extent otherwise explicitly stated in our report, we do not
express any form of assurance conclusion thereon.
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 the financial statements, or our knowledge obtained in the audit, or otherwise appears to
be materially misstated. If we identify such material inconsistencies or apparent materlal
misstatement5, we are required to determine whether there is a material misstaternent 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 thls other
Information, we are required to report that fact. We have nothing to report in this regard.
Opinlons on other matters prescribed by the Companles Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the Information given In the Directors, Report for the flnancial year for which the
financial statements are prepared is consistent with the flnancial statements. and
the Directors, Report has been prepared in accordance with applicable legal
requlrements.
Matters on whlch we are requlred to report by exception
In the light of our knowledge and understanding of the charitable company and its environment
obtained In the course of the audit, we have not identified material misstatements the
Directors, Report.
We have nothing to report In respect of the following matters in relatlon to which the
Companles Act 2006 requires us to report to 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 vlsited by us; or
the financial statements are not in agreement with the accounting records and returns.
or
certain disclosures of directors, remuneration specified by law are not made. or
we have not received all the information and explanations we requlre for our audit. or
the directors were not entitled to prepare the financial statements In accordance with the
small companies, regime and take advantage of the small companie5, exemption in
preparing the Directors, Report.
CavanaghKellyi Chartered Accountants & Statutory Auditors
Pagle | 8

Mourne Stimulus Limit
Charitabl
Limited b
tee
INDEPENDENT AUDITOR
REP
Northern Ireland
Limtted for the
RT to th
ectors of The V
l Arts
ear
nded 31 March 2024
Continued
Responsibilities of Directors
As explained more fully in the Directors, Responsibilities Statement, the directors (who are also
the trustees of the charitable company for the purpose of charity law), are responsible for the
preparation of the financial statements and for being satisfied that they give a true and fair
view, and for such internal control as the Directors determine is necessary to enable the
preparation of financial statements that are free from material misstatement, whether due to
fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's
ability to continue as a going concern, disclosing, as applicable, matters related to going
concern and using the going concern basis of accounting unless the directors either intends to
liquidate the charitable company or to cease operations, or has no realistlc alternative but to do
so.
Audltor's responsibilities for the audit of the financlal staternents
Our objectives are to obtain reasonable assurance about whether the flnancial statements as a
whole are free from material misstatement, whether due to fraud or error, and to issue an
Audltor's Report that includes our opinion. Reasonable assurance is a high level of assurance,
but Is not a guarantee that an audlt conducted In accordance with ISAS (UK) wlll always detect
a material misstatement when it exists. Misstatements can arise from fraud or error and are
considered material if, individually or In aggregate, they could reasonably be expected to
influence the economic decisions of users taken on the basls of these financial statements.
Irregularities, including fraud, are instances of non-compllance with laws and regulatlons. The
objectives of our audit in respect of fraud are to assess the risk of materlal misstatement due to
fraud, design and implement approprlate responses to those assessed risks and to respond
appropriately to instances of fraud or suspected fraud identifled during the course of our audit.
However, the primary responslblllty for the preventlon and detection of fraud rests wlth
management and those charged with governance of the company.
In Identlfylng and assesslng rlsks of materlal misstatement In respect of irregularltles, including
fraud and non-compllance with laws and regulations, our procedures Included the following:
We obtained an understandlng of the legal and regulatory requirements applicable to the
charitable company's financial statements and consldered the most significant are the
Companies Att 2006 and Financial Reporting Standards (FRS102)'
We have assessed the rlsk of material mlsstatement of the flnanclal statements,
including risk of material misstatement due to fraud and how it might occur by holding
dlscussions with management and those charged with governance,
We enquired of management and those charged with governance as to any known
instances of non-compliance or suspected non-compliance with laws and regulations.
Understanding the internal controls established to mitigate risks related to fraud or non-
compliance with laws and regulations; and
Discussions amongst the audit engagement team regarding how fraud might occur In the
financial statements and any potential indicators of fraud. As part of this discussion, we
identified the following potential areas where fraud may occur: timing of revenue
recognition and rnanagement override.
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page19

urne Sti
hari
ul s Limite
ar
tee
PENDE
UDITOR
Northern Ireland
REPORT to the Directors of he Verbal Arts
Limited for the
ear ended 31 March 2024
Continu
The audit response to risks identified included:
en
Reviewing the financial statements disclosures and testing to supporting documentation
to assess compliance with the relevant laws and regulations above.
Performing analytical procedures to identify any unusual or unexpected relationships
that may indicate risk of material misstatement due to fraud;
In addressing the risk of fraud through management override of controls, testing the
appropriateness of journal entries and other adjustments, assessing whether the
judgements made In making accounting estimates are reasonable and evaluating the
business rationale of any significant transactions that are unusual or outside the normal
course of business, and
In addressing the risk of fraud through management overrlde of controls, testlng the
appropriateness of Journal entries and other adjustments, assessing whether the
Judgements made in making accounting estimates are reasonable and evaluating the
business rationale of any significant transactions that are unusual or outside the normal
course of business.
A further descriptlon of our responsibilitles for the audit of the financial statementsls located on
the Financial Reporting Council's webslte at www.fr
descriptlon forms part of our auditor's report.
or
.uk
This
other matters whlch we are required to address
The flnanclal statements for the year ended 31 March 2023, forming the comparatlve figures of
the flnanclal statements for the year ended 31 March 2024 are unaudited.
Mr. Ryan Falls FCA (Senior Statutory Auditor)
For and on behalf of
CAVANAGHKELLY
Chartered Accountants and Statutory Audltors
36 - 38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP
Date: 19 December 2024
CavanaghKellyi Chartered Accountants & Statutory Auditor5
PauFel 10