Ballymena Business Centre Ltd Independent Auditoi"'s Report to the Members of Ballymena Business Centre Ltd Opinion We have audited the financial statetnents of Ballymena Business Centre Lid (the 'charity') for the year ended 31 December 2023. which comprise the Statement of Financial Activities, Balance Slieet. Statement of Cash Flows, and Notes to the Financial Statements, including a sutnmw of significant accounting policies. The finarycial reporting framework that has been applied in their preparation is United Klngdom Accounting Standards. comprising Charities SORP FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and applicable law (United Kingdom Generally Acoepted Accounting Practice). In our opinion the financial statementS'. give a true and fair view of the state of the charity's affairs as at 31 December 2023 and of its incoming resources and application of resources, including its incoine and expenditure, for the year then ended,. have been properly prepared in accordance'with United Kingdom Generally Accepted Accounting Practice. and have been prepaied in accordance with tbe requirements of the Companies Act 2006. Basis for opinion We conducted our audit in a¢¢ordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of tlie financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial stateinents in the UK. including the FRC'S Etliical Standard and we have fulfilled our otiier ethieal responsibilities in accordance with these rcquirements. We believe that tlie audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing th¢ financial statements, we have concluded that the trustees use of the going concern basis of a¢countin8 in tl)e preparation of the financial statements is appropriate. Based on tlie work w¢ have perforined. we have not identified any material uncertainties relating to event5 or conditions tliat. individually or colleclively, may east significant doubt on the charity's ability to continue as a going concern for a period of at least twelve montlis from when the original financial slatements were authoris¢d for issue. Our rcsponsibilities and the responsibilities of the trustees with resp¢ct to going concern are described in tlie relevant sections of this report. Other information The trustees are Tesponsible for tlie otlier infonnation. The other infonnation comprises the inforniation included in the annual report, other tlian tlie financial stateinenls and our auditor's report thereon. Our opinion on the financial Statements does not cover th¢ oihcr infoimation and. except to tlie extent othenvise explicitly stated in our reporL we do not express any forin of assiirance conclusion thereon. In conncction with our audit of tlie financial statements. our responsibility is to read the other infonnation and. in doiiig 50, consider wliether ihe other iiifonnation is materially inconsistent with thc financial statements or our knowledge obtained in tlie audit or othenvise appears to be materially misstated. If we identify such material inconsistencies or appareiit material misstaternents. we are required to deterniine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If. based on the work we liave performed, we Conclude that tliere is a material misstatement of this other infonnation. we are required to report tliat lact. We have nothing to report in tliis regard. Page 7
Ballymena Business Centre Ltd Independent Auditor's Report to the Members of Ballymena Business Centre Ltd Opinion on other matters prescribed by the Cotnpanies Act 2006 In our opinion. based on the work underiaken in the course ol the audit-. the infoirnation given in the Trustees, Report (incorporating the Directors, Reporl) for the financial year for which the financial statements are prepared is consistent with the financjal statements: and the Trustees, Report (in¢orpoi'ating the DiTectors' Report) has been pi'epared in accordance with applicable legal requirements. Matters on which we are required to report by exception In tlie light of our knowledge and understanding of the charity and its environment obtained in the course ol the &udit, we have not identified material misstateinents in the Trustees, Report (incorporating the Directors, Report). We have nothing to report in respect of tile following matters where the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept. or returns ad¢quate for our audit have not been received from branches not visited by us- or the financial statements are not in agreeinent with the accounting records and returns. or certain disclosures of trustees, remuneration specified by law are not made. or we have not received all the information and explanations we require for our audit. Responsibilities of trustee5 As explained more fully in the Statement of trustees, responsibilitie5 (set out on pages 5 and 6), the truslces are responsible for tlie preparation of the fmancial statements and for being salisfied tliat they give a true and fair view, and for sucli internal conti'ol as the ttustees deterinine is necessary to enable the preparalion of financi21 statements that are free from material misstatement. whether due to fraud or error. In preparing the fjnancial statements. the ttustees are responsible for 2ssessinE the charity'5 ability to continue as a going concem, disclosing. as applicable, matters related to going concem and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or lo cease operat10115, or have no realistic alternative but to do so. Auditor responsibilities for the audit of the finan¢iRI statements Our objectives are to obtain reasonable assurance about whetlier the financial statements as a whole are free from material misstatemenL whether due to fraud or error, and to issue an auditoi's report tliat includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstateinenls can arise froni fraud or eTror aiid are considered material if. individually or in the aggregate. tliey could reasonably be expected to influence tlie economic de¢ision5 Qf users taken on the basis of these financial statements. Jrregularitie5, including fraud, are instances of non-compliance with laws and regulations. We design procedures in li11e with our resp0115ibilities, outlined above, to delect material misstatenients in respecc of irregularities, including fraud. Tlie extent to which our procedui-es are capable of detecting iTregularities, includiiig fraud is decailed below- Page 8
Ballymena Business Centre Ltd Independent Auditor'5 Report to the Members of BallymeTha Business Centre Ltd We obtained an undei-standing of the legal and regulatoiy fi'aniework 8ppLicable to the Company and the sector in which they operate. We determined t11 the following laws and regulations were most significint-. the Companies Act 2006 and the Cliarities Act (Northern Ireland) 2008 and we detenntned that the Financial reports.ng framework used was FRS102 and Accounting and Reporting by Charities.'Statement of Recommended Practice applicable to charities preparing their accounts in accordance'with the Financial Repoi'ting Standard applicable in tlie UK and Republic of Ireland (FRS102) (effective l January 2019)= We obtained an understanding of how the Company are complying with those legal and regulatory frarneworks by making inquiries to the management and through the review of the meetings of the Trustees. We assessed the susceptibility of the Company's financial ststernentS to material misstaternenl including liow fraud might occur. Based on the results of our risk assesstnent we desi8ned our audit procedures to identify non-compliance with siicli laws and regulations identified above. Audit procedures pei'formed included.. -identifying and assessing the design effectiveness of controls managenient has in place to prevent and detect -understanding how those charged with governance considered and addressed the potential for ovetride of controls or other inappropriate influenc¢ over the financial reporting process.. -assessing assumptions and judgments made by management in its Silficallt accounting estimates for reasonablencss- -perfonning analytical procedures to identify any unusual or unexpected variations that May indicate risk of material misstatement due to fraud.. -identifying and testing journals- -assessing the exteiit of conipliance with die levant laws and regulations Tlicre are inherent liInitations in the audit procedures described above. We are less likely to become xware of instances of non-compliance with laws and regulations that are not closely related to events arld traiisactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from erTor, as fraud may involve deliberate concealrnent by, for example, forgery or intentional iiiisrepresenlations, or through collusion. Use of our report This report is made soI¢ly to tlie charitable coinpany's trustees, 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 statc lo th¢ charity's trustees those niatters we are required to state to them in an auditor's report and for no oth¢r purpose. To the fullest extent perniitted by law. we do not accept or assume responsibility to anyone other than the Gharitable company and its trustees as a body. for our audit work. for this report or for the opinions we have fornied. JaTnes Wallace (Senioi- Statutory Auditor) For aiid on belialf of D'f Carson & Co., Stalutoiy Auditor 51 53 Tliomas Sireet Ballymena Co. Antritn BT43 6AZ 12 Mai-cli 2024 Page 9