The House uf Vic-Ryn Tiust Limited {A Company Limited by Guarantee) Independent Auditors, Report to the Members of The House of Vic-Ryn Trust Limited Opinion We have audited the financial ststernents of The House of Vic-Ryn Trust Limited (the Iwst,) for the year ended 30 June 2024 which comprise the Statement of Financial Activities, the Balan Sheet, the Statement of Cash Flows and the related notes, including 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 Practi). In our opinion the financial statements: give a true and fair view of the state of the charitable compansls affairs as at 30 June 2024 and of its incoming resources and application of resources, including its income and expenditure for the year then ended., have been property prepared in accordance with United Kingdom Generally Accepted Accounting Practice: and have been prepared in accordan with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with Intemational Standards on Auditing (UIQ (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors. responsibilities for the audtt of the financial statements section of our report. 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 Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. WÈ believe that the audbt evidence we have obt2inÈd is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concem 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 worf( we have perfomied. we have not identified any material uncertainties relating to events or conditions that, individualty or collective, may cast 5ignffiGant doubt on the charitable company's ability to continue as a going concem for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Ttustees with tespeGt to goin9 GonGem are described in the relevant sections of this report. SUMER NORTHEPNI%I IRELANO Page 7
The House of Vlc-Ryn Trust Limited (A Company Limited by Guarantee) Independent Auditors, Report to the Members of The House of Vi¢41yn Trust Limited (contlnued) Other information The other infomiation comprises the infomiation 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 ReporL Our opinion on the financial statements does not cover the other information and, except lo the extent otherwise explicrtly stated in our report. we do not express any form of assurance conclusion thereon. Our responsibility is to read the other infomation and, in doing so, consider whether the other inforrnation is materially inconsistent wrth the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If V identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material rnisstatement in the financial statements themselves. If. based on the work we have perfomied. we conclude that there is a material misslatement of this other information. we are required to report that fact. We have nothing to report in this regard. Opinlon on other matters prescribed by the Companies Act 21x16 In our opinion. based on the work undertaken in the course of the audit: the informalion given in the Tiusteeb. Repvil fui Ihe finanGial year for whiGh the financial 51atements are prepared is consistent vlith the financial statements. the Trustees, Report has bn prepared in accordance wilh applicable legal requirements. Matters on which we are required to report by exception In the light of our knowledge and understandin9 of the Charitable Company and its enwronment obtained in the course of the audit, we have not identffied material misstatements in the Twstees, Report. We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you rf. in our opinion: adequate accounting records have not been kept. or returns adequate for our audit have not been received from branthe5 not Visited by us" or the financial statements are not in agreement with the accounting records and retums: or certain disclosures of Trustees, remuneration specified 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 enttued to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the Trustees. Report and from the roquirgmant to prepare a Strategic RaporL SUMER NORTHERN IRELAND Page 8
The House of Vlc-Ryn Trust Llmlted (A Company Limited by Guarantee) Independent Auditors. Report to the Members of The House of Wic41yn Trust Limited (continued) Responsibilities of Trustees As explained more fully in the Trustees, Responsibilities Statement, the Trustees {who are also the directors of the charitsble company for the purposes of company law) are responsible for the preparation of the financial statements and ft)r being satisfied that they give a true and fair view, and for such intemal 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 concem and using the going concem basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic altemattve but to do so. Auditors, responsibilities for the audit of the financial statements Our objectives 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 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 with ISAS (UK) will aNvays detect a material misstatement when it exists. Misslatements 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 ststements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities. ouuined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularFties, including fraud is detailed below.. We gained an understanding of the legal and regulatory frarnework applicable to the Charitable Company and the industry in which they operate. and considered the risk of ads by the Charitable Company that were contrary to applicable laws and regulations, including fraud. We considered the opportunities and incentives that may exist within the Company for fraud and identified the greatest potential for fraud in the following areas: management override of controls and fraud risk relating to income. We designed audit procedures to respond to these risks, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may invOe deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. Our audit procedures included." enquiries of management about their own identification and assessment of risks of irregularities, testing the design and implementation of controls relating to the risks. sample testing of journals posted during the year. income cut off testing and agreeing income to underlying supporting third paty doGumentation. Because of the inherent limitations of an audit, there is a rrsk that we will not detect all irregularities. including those leading to a material misstatement in the financial statements or non-complian with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reftected in the financial statements, as we will be less likety to become aware of instances of non<ompliance. The risk is also greater regarding irregularities 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 ststements is located on the Financial Reporting Council's website aL' wwM.frc.or .ukJauditorsres nsibilrties. This description forms part of our Auditors. Report. SUMER NORTHERN IRELAND Page 9
The House of Vlc-Ryn Trust Limited (A Company Limited by Guarantee) Independent Auditors. Report to the Members of The House of Wic-Ryn Trust Limited {continued) Use of our report This report is made solely to the charitable CoMpanS members, as a body, in accordance with Chapler 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 charrtable company and its members, as a body. for our audrt work. for this report. or for the opinions we have fomied. Ix(LJ Amanda Mcmaw (Senior Statutory Audltor) for and on behalf of Sumer Auditco Nl Limlted Statutory Auditors Glendinning House 6 Murray Street Belfast Co Antrim BT16DN 19 February 2025 Sumer Auditco Nl Limited are eligible to act as auditors in terms of section 1212 of the Companies Act 2006. SUMER NORTHERN IREL4NO Page10