THE MARTIN RESIDENTIAL TRUST
(A company limited by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE MARTIN RESIDENTIAL TRUST
Opinion
We have audited the financial statements of The Martin Residential Trust {the 'charitable company,) for the year
ended 31 December 2023 which comprise the Statement of financial activities, the Balance sheet, the Statement
of cash flows and the related notes. induding a summary of significant accounting policies. The financial
reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting
Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK
and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the charitable company's affairs as at 31 December 2023 and of its
incoming resources and application of resources, induding its income and expenditure for the year then
ended.,
have been properfy prepared in accordance with United kQ'ngdom Generally Accepted Accounting
Practice., and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance v￿th Intemational Standards on Auditing (UK} IISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit
of the financial statements section of our reporL We are independent of the charitable company in accordance
with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom,
including the Financial Reporting Council's Ethical Stsndard, and we have fulfilled our other ethical
responsibilities in accordance wth 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
In auditing the financial statements, we have concluded that the Trustees, use of the going concem basis of
accounting in the preparation of the financial statements 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 charitable company's ability to
continue as a going con￿rn for a period of at least ￿e1ve months from when the financial statements are
authorised for issue.
Our responsibilities and the responsibilities of the Trustees V￿th respect to going concem are described in the
relevant sections of this reporL
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THE MARTIN RESIDENTIAL TRUST
(A company limited by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE MARTIN RESIDENTIAL TRUST
(CONTINUED)
Other inforniation
The other information comprises the infonnation included in the Annual report other than the financial statements
and our Auditors, report thereon. The Trustees are responsible for the other information contained within the
Annual report. Our opinion on the financial statements does not cover the other information and, except to the
extent othemise explicilly stated in our report, we do not express any form of assurance conclusion thereon. Our
responsibility is to read the other information and, in doing so, consider whether the other information is
materially inconsistent with the financial statements or our kn￿￿edge obtained in the course of the audit, or
otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material
misstatements, we are required to determine whether this gives rise to a material misstatement in the financial
statements themselves. If, based on the work we have performed, we conclude that there is a material
misstatement of this other information, we are required to report that facL
We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies 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 statements are
prepared is consistent with the financial statements.
the Trustees, report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of our kno￿edge and understanding of the charitsble company and its environment obtained in the
course of the audit, we have not identified material misstatements in the Trustees, reporL
We have nothing to report in respect of the foll0v￿ng matters in relation to which Companies Act 2006 requires
us to report to you if, in our opinion=
adequate accounting records have not been kept, or retums adequate for our audit have not been
received from branches not visited by us- or
the financial statements are not in agreement with the accounting records and returns,. or
certain disclosures of Trustees, remuneration spectfied by law are not made,. or
we have not received all the information and explanations we require for our audit- or
the Trustees were not entilled to prepare the financial statements in accordance wth the small companies
regime and take advantage of the small companies, exemptions in preparing the Trustees, report and
from the requirement to prepare a Strategic report.
Responsibilities of trustees
As explained more fully in the Trustees, responsibilities statement. the Trustees {who are also the directors of the
charitable company for the purposes of company law) are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view, and for such internal control as the
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 charitable company's ability
to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going
concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease
operations, or have no realistic alternative but to do so.
Page 7

THE MARTIN RESIDENTIAL TRUST
(A company limited by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE MARTIN RESIDENTIAL TRUST
(CONTINUED)
Auditor5. responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance aboLrt whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an Auditors, report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance wth ISAS (UK) wll a￿yS detect a material misstatement when it 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 users taken on the basis of these financial statements.
Irregularities, induding fraud, are instances of non-compliance with laws and regulations. We design procedures
in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities,
including fraud. The extent to vthich our procedures are capable of detecting irregularities, including fraud is
detailed below.
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including
fraud and nOr￿coMpliance with laws and regulations, was as follows.
The engagement partner ensured that the engagement team collectively had the appropriate competence,
capabilities and skills to identify or recognise non-compliance with applicable laws and regulations. As part of the
audit in accordance with ISAS (UK) we exercised professional judgement and maintained professional
scepticism throughout the audiL We identified the lavts and regulations applicable to the company through
discussions with directors and other management. and from our commercial kno￿edge and experience of the
sector and we focused on specific lavts and regulations which we considered may have a direct material effect
on the financial statements or the operations of the company. including the Companies Act 2006 and the
Charities Act (Northern Ireland) 2022.
We assessed the susceptibility of the companls financial statements to material misstatement, induding
obtaining an understanding of how fraud might occur, by making enquiries of management as to where they
considered there was susceptibility to fraud. their kno￿edge of actual, suspected and alleged fraud and
onsidering the internal controls in place to mitigate risks of fraud and nor￿coMpliance wth laws and regulations.
We obtained an understanding of intemal controls relevant to the audit in order to design audit procedures that
were appropriate in the circumstsnces but not for the purpose of expressing an opinion of the effectiveness of
the Company's intemal controls.
To address the risk of fraud through management bias and override of controls, we performed analytical
procedures to identify any unusual or unexpected relationships- tested joumal entries to identify unusual
transactions,. evaluated the appropriateness of accounting policies used, including managements, use of the
going concern basis of accounting. and the reasonableness of accounting estimates and related disclosures
made by management,. and investigated the rationale behind significant or unusual transactions.
In response to the risk of l￿egUlarltieS and noriwcompliance wth laws and regulations, we designed procedures
which included but were not limited to agreeing financial statement disclosures to underlying supporting
documentation,. reading the minutes of meetings of those charged with governance,. and enquiring of
management as to actual and potential litigation and daims.
Because of the inherent limitations of an audit. there is a risk that y￿ wll not detect all irregularities, including
those leading to a material misstatement in the financial statements or non-compliance wth regulation. This risk
increases the more that compliance wth a law or regulation is removed from the events and transactions
reflected in the financial statements, as we viill be less likely to become aware of instances of n0￿coMplianCe.
The risk is also greater regarding irregularrties occurring due to fraud rather than error, as fraud involves
intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at.. wvM.frc.or
.uklauditorsres
onsibilities. This description forms part of our
Auditors, report.
Page 8

THE MARTIN RESIDENTIAL TRUST
(A company limited by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE MARTIN RESIDENTIAL TRUST
(CONTINUED)
Use of our report
This report is made solefy to the charitable company's members, as a body, in accordance wth 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 members those matters we are required to state to them in an Auditors, report and for no other
purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we
have formed.
Michael Fitch (Senior statutory auditor)
for and on behalf of
UHY Hacker Young Fitch Limited
Statutory Auditors & Chartered Accountants
Suite 2.06, Custom House
Custom House Square
Belfast
Antrim
BT13ET
21 August 2024
UHY Hacker Young Fitch Limited are eligible to act as auditors in terms of section 1212 of the Companies Act
2006.
Page 9