FERMANAGH ENTERPRISE LIMITED (Charitable Company Limited by Guarantee) INDEPENDENT AUDITOR'S REPORT TO THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2024 Opinion We have audited the f Inanclal statements of Femianagh Enterprlse Llmlted ('the charitable company,) for the year ended 31 March 2024 which comprlse the Statement of Flnanclal Actlvlties, the Statement of Financlal Posltlon, the Statement of Cash Flows and the related notes to the financlal statements, Includlng a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation Is applicable law and Unlted Klngdom Accounting Standards, Includlng FRS 102 "The Flnanclal Reportlng standard applicable In the UK and Republic of Ireland" (United Kingdom Generally Accepted Accounting Practice) applylng Sectlon IA of that standard. This report is made solely to the charltable company's dlrectors / trustees. as a body, In accordance wlth 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 d Irectors I trustees those matters we are requlred 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 responslbllity to anyone other than the charltable corn pany and the charitable company'5 d i rectors / tru5tee5 a5 a body, for our audlt work, for thls report, or for the opinions we have fomied. In our opinlon the flnancial statements.. glve a true and falr view of the state of the charltable company's affalrs a5 at 3 1 March 2024 and of Its total Incoming resources and expendlture of resources, Includlng Its Income and expendlture, for the year then ended. have been properly prepared in accordance with United Kingdom Generally Accepted Accountlng Practlce; and have been prepared in accordance wlth the requlrements of the Companies Act 2006. Basis for opinlon We conducted our audlt In accorda nce wlth Internatlonal Standards on Aud Itlng (U K) (ISAS {UK)) and applScable law. Our responslbllltles under those standards are further descrlbed In the Auditor's responslblllties for the audit of the financlal statements sectlon of our report. We are independent of the company I n accordance wlth ethlcal requlrements that are relevant to our audit of the flnanclal statements In the UK, Includlng the FRC'S Ethlcal Standard, and we have fulfllled our other ethlcal responslbllities in accordance wlth these requlrements. We believe that the audlt evidence we have obtalned Is sufficient and approprlate to provlde a basis for our opinion. Conclusions relating to golng concern We have nothlng to report in respect of the followlng matters In relatlon to whlch ISAS (UK) requlre u5 to report to you where,. the dlrectors, use of the going concern basls of accountlng In the preparation of the financSal statements s not appropriate; or the directors have not dlsclosed in the financial statements any Identlfled material uncertaintie5 that may cast slgnlflcant doubt about the charltable company's ability to contlnue to adopt the going concern basis of accountlng for a period of at least twelve month5 from the date when the financial statements are authorlsed for issue, CavanaghKelly"
FERMANAGH ENTERPRISE LIMITED (Charitable Company Llmited by Guarantee) INDEPENDENT AUDITOR'S REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2024 other Information The directors are responslble for the other informatlon. The other Informatlon comprises the Informatlon included in the Dlrectors, Report, Other than the financial statements and our Audltor's Report thereon. Our oplnlon on the flnarlclal statements does not cover the other information and, except to the extent otherwlse explicitly stated in ou r report, we do not express any form of assurance concluslon thereon. In connectlon with our aud it of the financial statements, our responsibility is to read the other Information and, In dolng so, consider whether the other informatlon Is materlally Inconsistent with the financlal statements or our knowledge Dbtained in the audlt, or otherwise appears to be materlally misstated. If we Identlfy such materlal Inconsistencies, or apparent material ml55tatements, we are requ Ired to determlne whether there Is a material misstatement In the flnanclal statements or a material mlsstatement of the other informatlon. If, based on the work we have performed, we conclude that there is a material misstatement of thls other Informatlon we are required to report that fact. We have nothing to report in this regard. Opinlons on other matters prescrlbed by the Companies Act 2006 In our opinlon, based on the work undertaken In the course of the audlt: the Information given in the Dlrectors, Report for the flnanclal year for which the flnanclal statements are prepared Is conslstent wlth the financial statements; and the Directors, Report has been prepared In accordance with applicable legal requlrements. Matters on which we are requlred to report by exception In the Ilght of our knowledge and understandlng of the charltable company and Its envlronment obtalned In the course of the audit, we have not ident5fled materlal mlsstatements In the Directors, Report. We have nothing to report In respect of the following matters in relation to whlch the Companies Act 2006 requlres us to report to you If, In our oplnlon: adequate accountlng records have not been kept, or returns adequate for our audlt have not been recelved from branches not visited by us; or the flnanclal statements are not In agreement wlth the accou ntlng records and returns; or certaln d Isclosures of d irectors, remuneratlon speclfied by law are not made; or we have not received all the Informatlon and explanatlons we requ Ire for our audlt; or the directors were not entitled to prepare the financial statements In accordance wlth the small companles, reglme and take advantage of the small companies, exemption in preparlng the Dlrectors, Report. Responsibilities of Dlrectors / Trustees As explained rn0 fu Ily in the Dlrettors, Responslbllltles Statement, the dlrector5 (who are also the trustees of the charitable company for the purpose of charlty law), are responslble for the preparation of the financial statements and for being satisfied that they glve a true and fair view, and for such internal control as the Dlrectors determlne Is necessary to enable the preparatlon of financial statements that are free from materlal mlsstatement, whether due to fraud or error. In preparing the flnanclal statements, the directors are responsible for assessing the company's ability to contlnue as a golng concern, dlscloslng, as applicable, matters related to golng concern and using the golng concern basls of accou nting unless the director5 either intend5 to liquldate the charitable company or to cease operations, or ha5 no realistic alternative but to do so. CavanaghKel
FERMANAGH ENTERPRISE LIMITED (Charitable Company Limited by Guarantee) INDEPENDENT AUDITOR'S REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2024 Auditor's responsibilities for the audlt of the financial statements Our objectlves are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our oplnlon. Reasonable assurance Is a hlgh level of assurance but Is not a guarantee that an audlt conducted In accordance wlth ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are consldered materlal If, Indlvldually or in aggregate, they could reasonably be expected to influence the economlc decision5 of users taken on the basis of these financial statements. A further de5criptlon of our responsibilities for the audit of the flnanclal statements 15 located on the Financial Reportlng Council'5 webslte at www.frc. onsibilltle This description fomis part of our auditor's report. Mr. Ryan Fal FCA (Senior Statutory Audltor) For and on behalf of CavanaghKellv Chartered Accountants and Statutory Audltors 36 - 38 Northland Row Dungannon Co. Tyrone 8T71 6AP Date: 25 November 2024 CavanaghKelly" 10