WORKFORCE TRAINING SERVICES LIMITED
FIYANCIAL STATETrTENTS
R THE YEAR ENDED 31ST MARCH 2023
REPORT OF THE INDEPENDENT AUDITOR TO THE I￿EMBERs,
Opinion
We have audited the financial statements of Workforce Training Services Limlted (the 'chaTity') for the year ended J l March
2023 which cornprise the Statement of Financial Activities, the Balance Sheet, the Stat¢rnent of C￿h Flows and the notes to
the financial statements, including a summary of significant accounting policies. The f￿anCIal Teporting frnmework that has
been applied in theiT preparation is applicable law and United Kingdom Accounting Standards, including Financial
Reporting Standard 102 ThefinanGial Reporting Standard applicable in the UK and Republic oflreland (United Kingdom
GeneraIly Accepted Accounting PTactice).
In our Opinio￿ the financial statements:
giv¢ a true and fair view of the state of the Charitable company'5 affalrs as at J l March 2023 and of its incoming
resources and application of resource5, including its income and expenditure for the year then ended;
have beell properly prepared in accordance with the Financial Reporting Standard applicable in the UK and
Republic of ITeland (FRS 102) (effective l Janauary 2015) - (Charities SORF (FRS102)), the Financial Reporting
Standard applicable in the UK and Republic of ITeland (FRS 102).
have been prepared in accordance with the requiTements of the Companies Act 2006,
Basis for opinion
We conducted our audit in accordance with International StandaTd5 on Auditing (UK) (ISAS (UK)) and applicable l&w. Our
responsibilities urAder those standards are further described in the Auditor's responsibilities for the audit of the accounts
section of our Teport. We are independent of the chartty in accordance with the ethical requirements that are relevant to our
audit of the accounts in the UK, including the FRC'S Ethical St2nd8rd, and we have filfjlled our other ethical responsibilities
in accordance with thes¢ requirements. We believe that the audit evidence we have obtained is suffjcient and appropriate to
provide a basis for our opinion.
Conclusions relating to going concern
We have nothing to Teport in respect of the following matters in Telation to which the ISAS (UK) require us to report to you
wheT¢:
the trustees, use of the going concern b&si5 of accounting in the Preparation of the financial statements is not
appropriate. or
the trustees have not disclosed in the financial 5tatement5 any identified material uncertainties that may cast
significant doubt about the charity's ability to continue to adopt the going concem b￿lS of accounting for a peTiod
of at least twelve months from the date whell the financial statrments are authorised for issue.
Other illforniation
The other inforniation COmPTises the inforniation included in the annual repor¢ other than the fInancial statements and our
auditor's report thereon. The trustees are respollsible for the other information. Our opinion on the financial ststements doe5
not cover the other inforn]ation and, except to the extent otherwise explicitly ststed in our report, we do not express any forn]
of assurance conclusion thereon.
In connection wÉth our audit of the fU￿}cial statements, our responsibility is to read the other infonnation an￿ in doing so,
consider whether the other infomiation is rnaterially inconsistent with the financial statements or our knowledge obtained in
the audil or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material
misstatements, we are required to deterniine whether there is a materia] misstatement in the financial staternents or a material
rnisstatement of the other inforn]ation. If, based on the work we have perfomie(L we conclude that there is a material
tnisstaternent of thi5 Other infonnation, we are required to report that fact.
We have nothmg to report in this regard.
Page 8

WORKFORCE TRAINING SERVICES LtMITED
FINA.￿IcIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023
REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS,
Matters on which we are required to report by exceptioD
tn the liJo t of the knowledge and understanding of the Trustees and its environrnent obtained in the course of the audiL we
have not identified mateTial misststements in the Trustees, Report.
We have nothing to report in respect of the followiniy matteTS in relation to which the Companies Act 2006 requires us to
report to you if, in OUT opinion:
sufficient accounting records have not been kept. or
the fmancial statements are not iJ] agreement with the accounting records" or
certain disclosures of trustees, retnuneration specified by law are not rnade,. or
we have not received all the infonnation and explanations we requiTe for our audit.
Responsibilities of trustees
As explaiDed more fvlly in the Statement of Tn]stees' Responsibilities, the trustees, who are also the diiectors of the cELarity
for the purpose of company law, are responsible for the preparation of the ￿anCIal statements and for being satisfied that
ive a true and fair view, and for such internal control as the diTectors deterniine is necessary to enable the preparation
of fmancial statements tbat are free from material misstatement. whether due to fraud or e￿Or.
In preparin(T the financial statements, the trustees are responsible for assessing the charity'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 company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the fmancial statements Is a whole are free from material
misstatement. whether due to fraud or e￿0T, and to issue an auditotrs report that includes OUT 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
material mi55tatement when it exists. Misstatements can arise from fraud or error aud are Considered material if, individually
or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on tbe basis of
these fmancial statements.
Irregularities, includintr fraud, aTe instances of non-compliance with laws and regulations. We design PTocedures in line with
our responsibilities, oudined above. to detect material misstatements In respect of irregularities, including traud. The extent
to which our procedures are capable of detecting irregularitie5. includintr frau4 15 detsiled below.
Explanation as to what extent the audit Ivas considered eapable of deteeting irregularities, including fraud
The objective5 of our audit in respect of fraud. are to identify and assess the risks of mater3al misstaternent of the financial
statements due to fraud. to obtain suificient appropriate audit evidence regarding the assessed risks of material misstatement
due to frau4 through designing and irnplementing appropriate responses to those assessed risks. and to Tespond
appropriately to instance5 of fraud or suspected fraud identified during tbe audit. However, the primary responsibility for the
preventioll and detection of fraud rests with both rnanagement and those cbarged with Lrovernance of the ChaTity.
Our approach was as follows..
We obtained an UDderstanding of the legal and regulatory requirements applicable to the chaTity and considered
that the most sigllificant are the Cornpanies Act 2006 and the Financial Reporting Standard applicable in the UK
and Republic of treland (FRS 102) (effective l Janaury 2015) - (Charities SORP (FRS 102).
Enquiry of management, those charoed with governance and the entity's solicitors aTound actyal and potential
litigation and clairns.
Enquiry of entity stsff in compliance fjjnctions to identify any instance5 of any non-compliance with laws and
regulations.
Reviewing financial statement disclosures and testing to 5UPPOrting documentazion to assess compliance with
applicable laws and regulations.
Page 9

WORKFORCE TRAIMNG SERVICES LI
FINANCIAL sTATEMEr￿s
FOR THE ITAR Ef*l)ED 31ST
ED
CH 2023
REPORT OF THE IINDEPENDENT AUDITOR T
THE MElfBERS'
Auditing the risL of m8nagement override of controls. including through testing journal entrie5 and other
adjustments for appToprialeness. and evaluating the business Ydtiona]e of si8nificani trallsaclion5 outside the
normal course of busine5S.
As part of an audit in accordance w?Ih ISAS (UK) we exercise professionaI judgement and maintain profc55ional scepticism
throughout the audit. We also."
Idcntify and Ls5ess the risks of material misstatetnent of the financial slatemcnts, whether due to fraud or error,
desi￿ perfomi audit procedures resp)nsive to thosc risks. and obtain audit evidence that is sufficient and
8ppropriate to provide a basis for our opinion. The risk of not detecting a malerial misstatement resulting Irom
fraud is higher than for one resulting from error. as fraud may involve Collusio￿ forgery. intentional omissions.
misrcpresentations, or the overrid¢ of internal eonlrol.
Obtain an underslanding of intemai control relevant to the audit in Order to design audit procedures that are
appropriate in the circumstan¢es, but not for the purposes of expressing an opinion on the effectiveness of the
ompany's iT21crnal control.
Evaluate the approprialenes5 of accounting p)licics used and the reasonableness of accounting estimates and
related disclosures made by the directors.
Conclude on thc appropriateness of the directors, use of the going concern b&si5 of accounting and. based on the
audit eVid￿ce obtaincd, whether a material uftcertainty exists related to events or conditions that rnay cast
significant doubt on thc charity's ability to continue as a going concern. Ef we conclude that a material uncettiinty
exists, we are required lo draw attcntion in our auditor's report to the related disclosure5 in the financial statements
or. if such disclosures are i7]adcquatc, to modify our opinion. Our conclusions are b￿ed on the audit evidcncc
obtained up to our auditorfs report. However. future events OT conditions may cause the charity to cease to continuc
as & going concern.
Evaluatc the overall presentatiOJ4 Structure and ¢ontent of th¢ financial statcmcnts. including ihe disc105ures, 8nd
whethcr the financial statements represeryl the underlying transactions and cvcnts in a manner that achieves fair
pr¢5entation.
A fvrther description of our responsibilities for the audst of thc financial statements is located OD th¢ Financial Reporting
Council's website at- http-.//www.frc.org.uklauditorsresponsibilitics. This description fortns part of our &udiiorfs report.
We communicate with those chargEd with governance regarding, arnong other matters, the planned scopc and timing of the
udit and significant findings, including any significant d¢ficiencies in interna] control that we identify during our audit.
Use of our report
This report is madc solely to the tharitable company's members, &8 a body, in accordancc with Chapter 3 of Part 16 of the
Companies Act 2006 and regulatiotts made under that Act. Our audit work has been undertakcn so that we ￿Ight stale lo the
charitsble company's members thos¢ matters we are r¢quired to state to them in an auditor5, rcport and for no oiher purpose.
To the fullest extcnt pcrnitted by law. we do not accept or assume responsibility to anyonc othcr than the charitable company
anditsrri
mbers & body. for
ur audit worl for this reporL or for the opinions we have forned.
E SHEARER F.C.A., Senior Ststhtory Auditor
FOR AND ON BEHALF OF O'ILIK4 SHEAREII Statutory Auditor
O'HARA SHEARER
CIL4RTERED ACCOUNTANTS
AM) STATirtORY AUDITORS
547 F311s Road
Belfast
BTII 9AB
Dgted: 8th December 2023
Page 10