West Bann Development Company Llmlted by Guarantoo Independent Auditorfs Report to the Members of West 8ann Development Year ended 31 March 2023 Opinion We have audited the financial staiements of West Bann Development (the charity'} for the year ended 31 March 2023 which comprise Ihe statement of financial activities (including income and expenditure account), statement of financial position and Ihe related notes. including a sumrnary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdorn Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). This report is made solely to the charity's members, as a body, in accordance with Chapter 3 01 Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to stste to them in an auditoff s report and for no other purpose. To the fullesi extent permitted by law. we do not aept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the oplnions we have formed. In our opinion the financial staternent$= give a true and falr vlew of the state ol the charity's affairs as at 31 March 2023 and of its incomin9 resources and applicallon of resources, InGludlng its income and expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accountin9 Practice., have been prepared in accordance with the requirements of the Companies Act 2006. 8881$ for opinion We conducied our audlt In accordance with Inlernational Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our re5pcnsibilities under those standards are further described in the auditorfs responsibilities for the audit ol the financial stalernents section of our report, We are independent of the charlty in accordance wilh the ethical requirements that are relevant to our audit of the financial statements in the UK. including Ihe FRC'S Ethical Standard, and we have fvlfilled our Other ethical responsibililies in accordance wilh these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern We have nolhing to report in respect of the following matters in relation io which the ISAS (UK) require us to report lo you where: the trustees. use of the going concern basls of acccunting in the preparation of the financlal statements is not appropriate; or the trustees have not disclosed in the financlal statements any identlfied material uncertaintles that may cast significant doubt about the charity's ability to continue to adopt the going concern basis of accounting for a period of at least twelve rnonths frorn the date when the financial statements are authorised for issue. 10
West 8ann Development Company Limited by Guarantee Independent Auditor's Report to the Members of West 8ann Development (contlnued) Year ended 31 March 2023 othor Inlormatlon The other information comprises the inlomiation Included in the annual report, other than the financial staiements and our audltor's report thereon. The trusiees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otheNilse 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 infomiation 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 missialed. If we idenlify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstalement in the financial statements or a material misstatement of the other inforniation. If, based on the work we have performed, we conclude thal there Is a material misstatement of this other information, we ale required to report that f8Ct, We have nothing to report In this regard. Oplnlons on other matters prescrlbed by the Companles Act 2006 In our oplnlon, based on the work undertaken in the course of the audit: the information 9iven in the trusiees, report for the financial year foi whi¢h the financial ststements are prepared is consistent with the financial statements; and the trustees, report has been prepared in accordance with applicable legal requirements. Mattors on whlch wo ar• requlred to report by •x¢eptlon In the light ofthe knowledge and understanding of the charity and its environment obtained in the CQUfse of th8 audit, we have not idenb'fied material misstatements in the trustees, report. We have nothing to report in respect of the following matters In latIon to which the Companies Act 2006 requires us to report lo you if, in our opinion: adequate accounting records have not been kepi, or retums adequate for our audit have not been recelved from branches not vlsited by us,. or the financial statements are not in agreement with Ihe accountin9 records and retum5' or certain disclosures of trustees, remuneration specified by law afe not made. or we have not received all the information and explanations we require for our audit.
West Bann Development Company Limited by Guarantee Independent Auditorfs Report to the Members of West Bann Development (continued) Year ended 31 March 2023 Responslbllftles of trustees As explained more fully in the trustees. ressx)nsibililies statement, the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisf that they give a true and fair view, and for such intemal control as Ihe trustees 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 trustees are responsible for assessing the charivs ability to continue as a going concern, disclosing, as applicable. matters related to goin9 concem and using ttr going concern basis of accounting unless the trustees either inter to liqvidale the charity or to cease operations. or have no realist alternative but to do so. Audttorfs fesponslbllllles lor the audlt of tho fln8nclal ststom•nts Our obj'ectives are to obtain reasonable assurance about whether the ffinancial statements as a whole are Iree from material rnisstatement, whether due to traud or error, and to issue an auditor's report that includes ouc 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. Misstatements can arise from fraud or error and are considered rnaterial if. individually or in the aggregate. they could reasonably be expected to influence the enOMiC decisions of users taken on the basis of Ihese financial statements. As part of an audil in accordance with ISAS (UK), we exerclse professional Judgment and maintain professional scepticism throughout the audlt. We also.. Identify and assess the risks of material misslatement of the financial statements. whether due to fraud oi error, desi9n and perform audil procedures responsive lo those risks. and obtain audit evbdence that is sufficient and appropriate to provide a basis for our Opin. The risk of not detecting a material misstatement resulting from fraud is higher than for one results'ng from error, as fraud may involve collusion, forgery, intenlional omissions. misrepresentations, or the override of iniernal control. Oblain an understanding of internal control ielevant to the audit in order to design audit procedures that are appropriate in the circumstances, bui not foi the purpose of expresslng an opinion on the effectiveness of the intemal control. Evaluate the appropriateness of accounting poliaes used and the reasonableness of accounting esiimaies and related disclosures made by the irustees. Conclude on the appropriateness of the trustees. use of the gOIj concern basis of accounting and, based on the audii evidence obtained, whether a material uncertainty exists relaled to events or nditionS that may casi Fignificant doubl on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists. we are required to draw attention in our auditorfs reF•Jrt to the related disck)sures in the financial slaternents or, if such disclosures are inadequate, to m(>Jify our opinion. Our conclusions are based on the audit eviden obtained up to the date of our auditorfs report. However, future events or conditions rnay cause the charty to ase to continue as a going concern. Evaluate the overall psentats.0n, Structu and content of the financial statements. including the disclosures, and whether Ihe finanaal statements represent the underlying transactions and events in a manner that achieves fair presentation. 12
West Bann Development Company Limited by Guarantee Independent Auditor's Report to the Members of West Bann Development {¢ontsnu60) Year ended 31 March 2023 We communicate with those charged with governance regarding, amon9 Other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control Ihai we ideniify during our audil. Paul A Taylor (Senior Statutory Auditor) For and on behalf of Paul A Taylor & Company Chartered accountant & statutory audltor Unit 4 12 Spitt81 Hill Bushmills Road Coleraine BT52 28Y 13 December 2023 13