Independent Auditor's Report Oplnlon We have audlted the flnancial statements of Trlangle Houslng Association Llmlted for the year ended 31 March 2024 whlch comprises the statement of comprehenslve income, the statement of changes in reserves, the statement of financial positlon, the statement of cash flows and the related notes to the financial statements, Includlng a summary of slgnlflcant accountlng policies. The financlal reportlng framework that has been applled In thelr preparation is applicable law and United Kingdom Accountlng Standards, Including Flnanclal Reporting Standard 102 - The Financial Reportlng Standard appllcable In the UK and Republlc of Ireland (Unlted Klngdom Generally Accepted Accountlng Practlce) and the Houslng SORP - Statement of Recommended Practlce for social houslng provlders Issued by the Natlonal Houslng Federation. In our oplnion the financlal statements: glve a true and falr view of the state of the Assoclatlon's affalrs as at 31 March 2024 and of Its surplus for the year then ended. have been properly prepared sn accordance wlth Unlted Klngdom Generally Accepted Accountlng Practlce; and have been properly prepared In accordance with the requlrements of the Co-operatlve and Communlty Beneflt Socletles Act (Northern Ireland) 2016 (formerly the Industrlal and Provldent Socletles Act (Northern Ireland) 1969). Basls of oplnlon We conducted our audlt In accordance wlth Internatlonal Standards on Audltlng (UK) (ISAS UK)) and appllcable law. Our responslbllltles under those standards are further descrlbed In the Audltor's responslbllltles for the audlt of the flnanclal statements sectlon of our report. We are Independent of the Assoclatlon In accordance wlth the ethlcal requlrements that are relevant to our audlt of the flnanclal statements In the UK, Includlng the FRC'S Ethlcal Standard, and we have fulfllled our other ethlcal responslbllltles In accordance wlth those requlrements. We belleve that the audlt evldence we have obtalned Is sufflclent and approprlate to provlde a basls for our oplnlon. Concluslons relatlng to golng concern We have nothlng to report In respect of the followlng matters In relatlon to whlch the ISAS (UK) requlre us to report to you where: the Board of Management's use of the golng concern basls of accountlng in the preparatlon of the flnancial statements Is not approprlate. or the Board of Management have not dlsclosed In the ilnanclal statements any ,identified materlal uncertainties that may cast slgnlflcant doubt about the .'Assoclation's ablllty to contlnue to adopt the going concern basls of accountlng for . a perlod of at least twelve months from the date when the financlal statements are . authorlsed for Issue. 12
other Informatlon The other Information comprises the informatlon Included in the Report of the Board of Management other than the flnanclal statements and our auditorfs report thereon. The Board of Management is responsible for the other Information. Our opinion on the financlal statements does not cover the other information and, except to the extent otherwise explicitly stated Sn our report, we do not express any form of assurance conclusion thereon. In connectlon with our audlt of the flnancial statements, our responslblllty Is to read the other infonnatlon and, In so dolng, conslder whether the other Information Is materlally Inconsistent wSth the financlal statements or our knowledge obtalned In the audit or otherwise appears to be materially misstated. If we identify such material inconsistencles or apparent material mlsstatements, we are requlred to determlne whether there Is materlal misstatement In the flnancial statements or a materlal mlsstatement of the other Informatlon. If, based on the work we have perforEd, we conclude that there is a materlal mlsstatement of thls other informatlon, we are required to report that fact. Oplnlon on other matters prescrlbed by the Companles Act In our oplnlon, based on the work undertaken In the course of the audlt: the Informatlon glven In the Report of the Board of Management for the financlal year for whlch the flnanclal statements are prepared Is conslstent wlth the flnanclal statements. and the Report of the Board of Management has been prepared In accordance wlth appllcable legal requlrements. Matters on whlch we are requlred to report by exceptlon In the Ilght of the knowledge and understandlng of the AssocSatlon and Its environment obtalned In the course of the audit, we have not Identified materlal misstatements In the Report of the Board of Management. We have nothlng to report In respect of the followlng matters In relatlon to whlch the Companles Act 2006 requ1$ us to report to you If, In our oplnion: adequate accountlng records have not been kept, or returns adequate for our audlt have not been recelved from branche5 not visited by us. or the flnanclal statements are not In agreement wlth the accountlng records and returns. or we have not received all the Inft)rmation and explanatlons we requlre for our audlt. Responslbllltles of the board of management As explalned more fully In the Board of Management responslbilitles statement the Board of Management Is responslble for the preparation of the financial statements and for being satlsfled that they glve a true and fair vSew, and for such Internal control as the Board of Management determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparlng the flnancial statements, the Board of Management Is responslble for assesslng the Association's abillty to contlnue as a going concern, disclosing, as applicable, matters related to going concern and using the golng concern basls of accountingi unless the Board of Management either intend to cease operations, or have no realistic alternative but to do so. 13
Trlangle Houslng Association Ltd Year Ended 31 March 2024 Independent Auditor's Report (cont'd) Auditor's responslbllltles for the audlt of the financial statements Our objectives are to obtaln reasonable assuran al)out whether the financial statements as a whole are free from materlal mSsstatement, whether due to fraud or error, and to Issue an audltor's report that includes our oplnlon. Reasonable assurance Is a hlgh level of assurance but Is not a guarantee that an audit conducted In accordance wlth ISAS (UK) will always detect a materlal mlsstatement when it exlsts. Misstatements can arlse from fraud or error and are consldered materlal If, Indlvldually or In aggregate, they could reasonably be expected to Influence the economlc declslons of users taken on the basls of these flnanclal statements. Irregularlties, includlng fraud, are Instances of non-compllance wlth laws and regulatlons. We deslgn procedures in line wlth our responslbllltles, outllned above, to detect material mlsstatements In respect of irregularities, includlng fraud. The extent to which our procedures are capable of detectlng irregularltles, Includlng fraud Is detalled below: We consldered the opportunltles and Incentlves that may exlst wlthln the organisatlon for fraud and Identlfled the greatest potentlal for fraud In the followlng areas.. tlmlng of recognltlon of Income, and postlng of unusual Journals along wlth complex transactlons. We dlscussed these rlsks wlth cllent management, deslgned audlt ProdureS to test the tSmlng of Income, tested a sample of Journals to conflrm they were approprlate and revlewed areas of Judgement for Indlcators of management blas to address these rlsks. A further descrlptlon of our responslbllltles for the audlt of the flnanclal statements Is located on the FlnancSal Reportlng Councll's webslte at . Thls descrlptlon forms part of our audltors, report. Use of our report Thls report Is made solely to the Board of Management, In accordance wlth Artlcle 38 of the Co-operatlve and Communlty Beneflt Socletles Act (Northern Ireland) 2016 (formerly the Industrlal and Provldent Socletles Act (Northern Ireland) 1969). Our audlt work has been undertaken so that we mlght state to the Board of Management those matters that we are requlred to state to them In an audltors, report and for no other purpose. To the fullest extent permltted by law, we do not accept or assume responslblllty to anyone other than the Soclety and the Board of Management, for our audlt work, for thls report, or for the oplnlon we have formed. B Clerkln (Senior Statutory Audltor) for and on behalf of ASM (B) Ltd statutory Auditor Glendlnnlng House 6 Murray Street Belfast BTI 6DN 24 June 2024 14