Hacker Young Fitch Chartered Accountsnts BELFAST Gw(bn Stieet 27-29 Gordon Street Belfast BTI 2LG THE IAARTIN RESIDENTIAL TRUST PIK>ne +44 28 9032 2047 Emal bplfastQuhy-uk.com Web wMw.uhy-uk corTWodfa5t IA company limit•d by guarnnte•) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE MARTIN RESIDENTIAL TRUST LONDOPI 222 The QuadrarvJle Cambridge Squ L￿￿0Th W2 2PJ Fbone +44 20 7305 7489 Web ￿W￿.uh￿Uk.(O￿rVWé$tff￿￿5Ier Opinlon We have aud¢ted the finanaal stslements of The Marb"n Residential Trust Ithe '¢harity'} for the year en¥Jed 31 December 2020 which comprise the Statement of financial a¢b.V￿"e$, the Balance sheei. the Statement of cash flows and the related notes, inGludin9 0 summary of si9nificant ac¢ountin9 poli¢ies The financial reporting framework that ha5 been applied in their preparation is applicable law and United Kingdom Accounting Stsndards, including Financial Rewb"ng Standard 102 The Financial Repo￿"A9 Standard applicable in the UK and Republic of Irdand. (United Kingdom Generalty Accepted Accounting PraCt￿e). In ¢JJr opinion the finanual slatements.. give a tnJe and fwr view of the state of the ¢harrtable company's affairs as * 31 December 2020 and of ts incoming resources and ap￿iCatiOn of resour￿5. including its income and expenditure for the year then ended., have been woperly Prepared in accordance with United Kingdom Generally A￿pted Accounting Pracb"¢e". ar have been prepared w) accordance wth the requwements ofthe Companies A¢t 20C6. Basi5 for oplnlon We conducted our in accordance wrth lntemab.onal Stsndards on Audrting (UK) IISAS {UK)l and applicable law. Our responsibilities under those standards are fvrther described in the Audrt0rV￿ responsibilities loi the audit of the finan¢ial statements seGb"on of our reporL We are independent of Ihe charitable company in accordance wilh the eth￿al requirements that are re￿vant to our audrt of the financial slatemenls in the United ngdom, including the Financial Reporh"n9 Council's Ethical Stsnddrd. and we have fvifilled our other ethical responsibilrties in accordance wilh these ￿qUIreMents. We believe that the audrt evidence we have obtsined is sufficient and aFpropriate to wowde a basis for our opinion. Conclusions rnlatlng to golng ￿nCern In audibng the ftnancial sLitements. we have conduded that the Twstees, use of the going concem basis of accounting in Ihe preparation of ￿ f￿￿Th¢14 ststements is appropn"ale. Based on the work w2 have Fwfomied. we have not identffied any material uncertainties relating lo events or" con¢Jitions that. individualty or colleclivety. may cast significant doubt on the charrtable company'5 ability lo continue as a g￿n9 concern for a period of at leasl twelve months from when the financial slalemenls are aLrthorised for issue. Our responsibilibes antj the respons￿ilibe$ of the Trustees ￿ respect to goiNJ concern ale *Je￿ribed in the relevant sect￿n5 of this reporL iNYH*etYQm9 A¢th .P¥ YOU Amtrnterofthe CWARTEAED IN PEOPLE THE MARTIN RESIOENTIAL TRUST (A ¢¢mpany limit8d by guarnnt•*) INDEPEP4DENT AUDITORS. REPORT TO THE MEMBERS OF THE MARTIN RESIDENTIAL TRUST ICONTINUEDI Oth•r iTrforniation The TnJstees are responsible for the other infom)alion. The other infomation comprises the information cluded in the Annual report. other than the financral statements and our Auditors. report thereon. Our opinion on the financial statements does not cover the other information and, ex¢epl to the extent otherwise explicitly stated in our report, we tjo r￿t express any fom of assurance condusion theretsn. In connection wth our audit of the financial st*emenls. ¢)ur responsibilty is to read the other fom)alion and, in doing so. consder whether the other informats.on is rnaterially inconsislenl wth the financial statements or our knovledge obtsined in the audit or otherwse appear$ to be materially misstated. 11 we identify such material inconsistencies or apparent material misstatements, we are required to determine Vdhether the￿ is a material misstatement in the financBI statements or a material misstatement of the other information. If. based on the we have performed, we conclude that there is a material misstatement of this other information. we are required lo report that fact. We have nothing lo report in this reg¥d. Opinion on other mattern prescribed by Companle$ A¢t 2006 In cyjr ownion. based on the work undertaken in the Course of the aLAJ inftymation given in the Trustees. report induding the Strategic ￿port for the financial year for which the financial statements are prepa￿￿ is consislerrt ￿￿h Ihe financ￿1 statements. the Tru5tees' refvirt and the Strategi¢ report have been prepared in accordance with aP￿￿¢801e legal requ1￿Ments. Matt•r& on which TW• are required to rèport by •xc•plion In the light of our knowledge and understanding of the charrtable company and rts environment obtained in the course.of the audrt, we have not idenlrfie(I material misstalements in the Trustees, report including the Strateg report. We have nothing lo report in respect of Ihe fojbwng matters in relation to Companies Act 2006 requires us to report to you rf, in oUr.¢Jpin￿n-. adequate accounting re￿r￿S have not t)een kept, or retums adequate for our audit have not been received from branches not visted by us.. or the financial statements are nol in agreement wilh tr* accountir8 recNds and retums.. or certain disclosures of Trustees. remuneratv)n specified by law ate not made," or we have not received all the infomalion and explanations vo ￿qUIre for cwr audf(,' or the Trustees ￿tre not entstled lo p￿pare the financial slatemenls in accordance wth the sm811 companies ￿lme and lake advanlage of the small companies. exeMpl￿nS in preparing the Trustees, reporL P•Je 7 THE MARTIN RESIDENTIAL TRUST IA company Ilmit￿ by guaranteel INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE MARTIN RESIDENTIAL TRUST ICONTINUEDI Auditors. responsibilities for the audit of thè financi•l statements Our objective$ are to obtain reasonable assurance about whether the financial 5talernents as a whcle are free from material misslatemenl. vthethef due lo fraud or errty. and to issue an Auditors, report Ihat includes our opinion. Reasonable assurance i8 a high level of assurance. but Is not a guarantee that an audit conducted in accordance wlh ISA5 IUKI V•ill ahvays delect a material mL8slatement when rt exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of user5 taken on the basi5 of these fin￿¢131 5talemenl$. Irregularities. induding traud, are insts1￿$ of non-compliance vAth 1•4VS and regulab"ons. We design proce¢Jures in line %wth Lwr responsibilrties. QLrtlined above. to detect material misstatements in resped of ITregularities. including fraud. The extent to ￿lch our procedures are capable of detecting iffegulari(ie$, including fraud is detailed be￿>￿_ Our approach to identfying and assessing the risks of mèterial mlssts1em￿t in respect of irregularrties. indu¢Ying fraud and norKompliance vAth laws and regulaIK￿$. w4$ as folkA¥s. The engagement partner ensured that the engagement team ¢Olle¢tiVe￿ had the appropriate competence, capabilities and skills to Klentfy or recognise non•compliance wth applicab￿ law5 and regulations. As part of the audit in accordance wth ISAS IUKI we exercised profe55ionèl judgement and maintained professional $cepticism throughout the audit. We Klentified the laws and regulations applicable to the company through discussions with directors and other management. and from our commercial knowledge and experience of the se¢lor and we f¢xused on specffic laws and ￿gUlatiOnS ¢onsKlered may have a direct material effect on Ihe financial statements or the operations of the company. including the Companies Act 2006, tsx*ion legisLition and data proteth"on, antrbribery. empbymenl. environmertsl and health and salety legislation. We assessed the su5ceplitNlity of the company's financial Statements lo material misslatemenl, including obtaining an understanding of how frau¢J might 0¢￿r. by making enquirie$ of manageffent as to where they considered there Wds susceptibility to fraud. their kno￿edge of actual, suspected and alleged fraud and ¢onsidenng the inlemal controls in place to mrtvJate risks of frau*J and non-¢ompliance laws and regulations. We obtained an understandirvj of internal controls relevarrt to the audrt in order to design audrt procedures that were appropriate in the circumstar￿S txrt not for the purpose of expressing an opinion of the effectr"veness of the Company's intemal controls. To addre55 the risk of fraud through management bias and override of controls, we performed analytical procedures lo idenlfy any unusual or unexpected relalionship$', tested joumal entries to identify unusual transa¢tion$,' evaluated the appropriateness of a￿UntIng poli¢ie$ used. including managements. use of the going con¢em basis of acctyjnting, and the ￿asOnablenesS of accounts.ng eslimales 8nd related disclosures made by management.. and in¥esb"gated the rationale behind significant or unusual transact￿n$. In response to the risk of wregulanties and non