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.
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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 perfor￿Ed, 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.
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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 Pro￿dureS 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
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