Indep¢ndent Auditorf3 Report on the audit of the finanGial statgmenls
Report on the audit of the financial statem&nts
Opinion
We have audlted the cnanty financial ststements of Limestone Youth Training Project Ltd for the year
ended 31 March 2023 which cotnprise the Ctldrity Slatefflent of Flnanciai Actsvilies, Ihe Chanty btatement
of Financial Position. the Charity Statement of Cash Flows and the related notes to the financial
statements. including a summary of significant acwuntirmj policies set out In the notes. The financial
reporting framework that has been applied in their preparation is applicable law and United Kingdom
Accounting Standards, including FRS 102 °The Financial Reporting Standard applicable in the UK and
Republic of Ireland. (Unrted Kingdom Generally Accepted Ac(x)unting Practice).
In our opinion the financial ststements=
give a true and fair view of the state of the charity's affairs as at 31 March 2023 and of the
charity's surplus and cash flows for the year then ended..
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice. including FRS 102 The Financial Reporting Standard applicable in the UK and Republic
of Ireland; and
have been prepared in accordance with the requirements of the Companies Act 2006 and Cc
Operative and Community Benefit Societies Act {Northem Ireland) 1969 and
the Gharity's revenue account and balance sheet complies with the requirements of Ctroperative
and Community Benefit Societies Act (Northem Ireland) 1969 and gives a true and fair view.
Basls of opinion
This report is made solely to the members. as a body, in accordance with the C04)perative and
Community Benefit Societies Act (Northern Ireland) 1969 and chapter 3 of 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 state to them in an auditorfs report and for no other purpose. We have fulfilled our
ethical responsibilities under. and are independent of the charity in accordance with, UK ethical
requirewvients. includlng the FRC'S Ethical Standard for Auditors.
To the fullest extent permitted by law, we do not accept or assume respjnsibility lo anyone other than the
charity and the members as a bThly. for our audit work. for this report or for the opinions we have fomied.
We believe that the audit evidence we have obtained is Sutricienl and appropriate lo provlde a basis for
our opinion.
In common with many other organisations of its size, the Limestone Youth Training Project Ltd uses its
accountants to prepare and submit returns to the tax authorities and assist wtth the preparation of the
financial ststements.
Gonclusions relatlng to Going Concern
The trustees have prepared the financial statements on the going concern basis as they have concluded
thal Ihe charfty's financial positson means that this is realistic. They have also concluded that there are no
material uncertainties that could have cast significant doubt over their ability to continue as a going
concern for at least a year from the date of the approval of the financial statements {Ihe going concern
period.).
We are required to report to you rf we have conduded that the uqe of the going concem basis of
accounting is inappropriale or there is an undisclosed material uncertainty that may cast signfficant doubt
over the use of that tsas￿ for a period ol al least a year from the date of approval of the financial
statements.

In our evaluation of the trustee's conclusions. we considered the inherent risks to the charlty's business
model and analysed how those risks might affect the charity's financial resources or ability to Gontinue
operations over the going concem period. We have concluded that the trustees. us of the going concem
basis of accounting in the preparation of the finanGial ststements is appropriate.
Based on the work we have performed we have not identified any material uncertainties relating to events
or conditions that, individually or collectively, may cast significant doubt on the Chartty's abilty to continue
as a going concem for a peri(xJ of at least twelve fflonlhs from when the financial statements are
authorised for issue.
Our responsibilities and the responsibilib.es of the trustees with respect to going concem are Oescnf)ed in
the relevant sections of this report.
Olher inforniation
The other infonnation comprises the infomiation induded in the annual rep)rt, other than the financial
ststements and our auditorfs retK)rt thereon. The trustees are responsible for the other information. Our
opinion on the financial statements does not cover the other infomiation and, except to the extent
Otherwise explicitly stated in our rep￿1, we do not express any fomi of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information
and, in doing so, consider whether the other infomiation is materially inconsistenl with the financial
statements or our knowledge obtained in the audit or oth8rwise appears to be materially misstated. If we
identFfy such material inconsistencies or apparent material misstatements. we are required to determine
whether there is a material misststement in the finanaal statements or a material misstatement of the
Iher irbfvrmdlivii. Ir, bdsed uii Ilie work we liave performed, we GonGlude that there is a material
misstatement of this other infonnation: we are required to report the fact.
We have nothing to report in thB regard.
Oplnlon on other matters prescrlbed by Co4)peratlve and Communlty Beneflt Societles Act
(Nonhern Ireland) 1969 and Companles Act 2006
In our opinion, based on the work undertaken in the course of the audit:
The infomiation given in the trustees, report for the financial year for which the financial
statp.mpnts are prepared is consistent with the financial statements,. and
The trustees. report has been prepared in accordance with applicable legal requirements.
Matters on whi¢h we arn roqulred to report by exception
In Iighi of Ine Knowledge and understandlng of the chartty and Its environment obtained in Ihe uuurse of
the audit. we have not identified material misststements in the trustees, report.
We have nothing to report in respect of the following matters in relation to which the Companie3 Act 2008
require5 US to report to you if, in our opinion:
Adequate aGGounting records have not been kept, or returns adequate for our audit have not
been received from branches not visited by us: or
The Iinancial slatements are not In agreement wrth the accounts.ng records and retums; or
Certain disclosures of trustees, remuneration specified by law are not made., or
We have not received all the infomiation and explanations we require for our audit., or
The trustees were not entitled to prepare the financial ststements in accordance with the small
companies regime and take advantaqe ol the small companies, exempl￿n5 in preparing the
directors. report and from the requirement to prepare a strategic rèport.

Respactive responsibilities of Twstees
As explained more fully in the Trustee's responsibilities statement. the Trustogs (who are also the
members and directors for the purposes of company law) are re5POnsible for the preparation Of the
financial statements and for being sakn'sfied that they give a true and fair view, and for such intomal control
as they determine is necessary to enable the preparation of finariGial statements Ihal are free from
materi21 misstatement. whether due to fraud or error. In preparing the financial 3tstements, the trustees
are restK)nsible for assessing the charity's abilty to cont'nue as a going con￿rn. disclosing. as
applicable, matters relate to going concem and using the going concem basis of accounting unless the
trustees either intend to liquidat8 the charitable company or to ￿ase operations. or have no realistic
altemalive but to do so.
Auditorfs responsibilltles for the audit of the finanGial stalgment5
We have been appointed as auditors under Section 65 of the Charities Act (Northem Ireland) 2008 and
report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a Who￿ are
free from material misstatement, whether due to fraud or error, and to issue an auditor's report that
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 rnaterial misstatement when il exists.
Misstatements can arise from fraud or emy and are considered material rf, individually or in the
aggregate, they could reasonably be expected to influence the economic decisions of users taken on the
basis of these financial statements.
Irregularities. including fraud, are instances of nonrycompliance with laws and regulations. We design
procedures in line wtth our responsibilities. outlined above. to detect material misstatements in respect of
irregularities. including fraud. The extént to which our procedures are capable of detectin9 irregularities.
including fraud, is detsiled below..
In identifying and assessing risks of material misstatement in respect of l￿egUlarlties. including fraud and
non-compliance with laws and regulations, we considered the following:
The nature of the industry and sector. control environment and business performance including
the design of the remuneralioii FKJliEies, key drlvers for directors, remuneration, bonus levels and
perfomiance targets.
Results of our enquiries of management about their own identification and assessment of the
risks of irregularities.,
Any matters we identwfied having obtsined and revi8wed documentation of their policies and
procedures rclating to..
Identfyino, pvaluating and complying with laws and regulations and whcther management were
aware of any instances of non-complian￿.
Detecting and responding to the risks of fraud and whether management have knowledge of any
actual, suspocted or alleged fraud;
The intemal controls established to mitigate risks of fraud or non-compliance with laws and
regulations.
The matters disGussed among the dudit engagement leam including signfficant component audit
ieams and relevant inlemal specialists, including tax and valuations specialists regarding how
and where fraud might occur in the financial statcmcnts and any potential indicators of fraud,
As a result of these procedures, we considered the opportunities and incentives that may exist within the
organisation for fraud awi(J identified the greatest poienlial for fraud. In common with all audits under ISAS
(UKI, we are also required to perform spe(ific pr(￿dureS to res￿nd to the risk of manag9ment override.
We also obtained and underslandlng of the legal and regulatory trameworks in operakn'on, focusing on
provisions of those laws and regulationq that had a direct effect on the detennination of material amounts
and disclosures in the financial statements. The key laws and regulalions we considered in ihi5 wntexl
induded ongoing (A)IMpliance with the UK Companies Act and lax legislation.
In addition, we considered provisions of other Saws and regulations that do not have d diieGI effect on the
rinancial siatetnents but compllance wilh vthich may be lundamentsl for their ability to operate or to avoid
a material penalty.
io

Audit response to rlsks identified
Our procedures to resrM)nse to the risks identrfied Including the following:
Reviewing the financial statement disclosures and testing tLI 5UPPOrting documentation to assess
compliance with provisions of relevant laws and ragulations described as having a direct effect on
the financial statements:
Enquiring of management concerning actual and potential litsgation and claims;
Perfomiing analytical procedures to identify any unusual or expected relationships that may
indicate risks of material misstaternent due lo fraud.
Reading minutes of meetings of those charges with govemance and reviewing correspondence
with tax authorities., and
In addressing the risk of fraud through management overrides control, testing the
appropriateness of journal entries and other adjustments., assessing whether the judgements
made in making accounting eslimales are indicative of a potential bias; and evaluating the
business rationale of any signsficant transactions that are unusual or outside the normal course of
business.
We also communicated relevant identified laws and regulations and potential fraud risks to all
engagement team members and remain alert to any indications of fraud or non-compliance with laws and
regulations throughout the audit.
Owing to the inherent limitations of an audit. there is an unavoidable risk that we may not have detected
some material misststements in th8 financial statements. even though we have properly planned and
perfomied our audit in accordance with auditing standards. In addition, as with any audit, there remains a
higher risk of non-detection of irregularities, as they may involve cdlusion, forgery. intemational
omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing
non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
A further description of our responslbillties is available on the Financial Reporting Council's website at
htpps.'Ilwww.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
The report is made soldy to the charity's trustees as a LK)dy. in accordance with the Ctroperative and
Community Benefit Societies Act (Northem Ireland) 1969 and chapter 3 of part 16 of the Companies Act
2006. Our audit work has been undertaken so that we mwJht state to the charity's trustees those matters
we are required to state to them in an auditor's rewit dnd IDr no other purpose. To the fullest extent
pemiittgd by law. we do not accept or assume rcsponsibility to anyone other than the charity and its
trustees as a body. for our audit work, for this report, or for the opinions we have fomied.
Brendan Malono FCA (Senlor Statutory auditor)
For and on behalf of
Malone Accountlng Ltd
Chartered Accountants & Statutory Auditors
12 New Street
Newry
Cc)unty Down, BT35 6JD
Date: 11th August 2023
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