Orchardville Society Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Orchardville Society Limited Year ended 31 March 2023 Opinion We have audited the financial statements of Orchardville Society Limited (the 'charily') for the year ended 31 March 2023 which comprise the statement of financial activities (including income and expenditure account), slalement of financial position, statement of cash flows and Ihe related noles, 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 FRS 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 Irue and fair view of the state of the charity's affairs as at 31 March 2023 and of its incoming resources and applicalion of resources, including its income and expenditure, for the year then ended: have been properly prepared in accordance with United Kingdom Generally Accepled Accounting Practice. have been prepared in accordance with the requirements ofthe Companies Act 2006. Basis for opinion We conduGted our audit in aGcordance with International Standards on Auditing (UK} {ISAs (UK)) and applicable law. Our responsibilities under Ihose standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and the provisions available for small enlities, in the circumstances set out below, and we have fulfilled our olher elhical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficienl and appropriale to provide a basis for our opinion. In common with many other organisalions of a similar size and nature, the charity uses its auditors to prepare and submit returns to the tax authorities and assist with the preparation of their organisation's financial statements. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparalion of the financial staternenls 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 c8St significant doubt on the charity's ability to continue as a going concern for a period of al least twelve months from when the financial slalements are authorised for issue. Our responsibilities and the responsibilities of the Irustees with respect lo goillg concern are described in the relevant sections of Ihis report.
Orchardville Society Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Orchardville Society Limited (contlnued) Year ended 31 March 2023 Other information The other information comprises the information included in the annual report, other than the financial slalemenls and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly staled in our report. we do not express any form of assurance conclusion Ihereon. In connection with our audit of the financial statements, our responsibility is lo read the othér information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or aur knowledge obtained in the audit or otherwise appears lo be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misslatemenl of the other information. 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 fact. We have nothing to report in this regard. Opinlons on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the trustees, report for the financial year for which the financial statements are prepared is consistent with the financial statements,. and the trustees, report has been prepared in accordance with applicable legal requirements. Matters on whiGh we are requlred to report by exception In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have nol identified material misstatements in the trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept, or r8turns adequate for our audit have not been received from branches not visited by us., or the financial slalements are not in agreement with the accounting record5 and returns., 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 th8 trustees were not enlilled lo prepare the financial statements in accordance with the small companies regime and lake advantage of the small companies, exemptions in preparing the directors, report and from the requirement to prepare a strategic report. 12
Orchardville Society Limited Company Limited by Guarantee Independent Auditor's Report to the f¥lembers of Orchardville Society Limited (conflnuèdj Year ended 31 March 2023 Responsibilities of trustees As explained more fully in the trustees, responsibilities statement, the trustees (who are also the direclors 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 misstalemenl, whether due to fraud or error. In preparing the financial statements, Ihe trustees are responsible for assessing the charity's ability lo continue as a going concern, disclosing, as applicable, matters related to going conrn and using the going Concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statemants 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 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 IUKI will always detect a material misstatemenl when it exists. Misslalements 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, including fraud, are instances of non-compliance with laws and regulations. We design procedure5 in line with our responsibilities, outlined above. to detect material rnisslalements in respect of irregularities. including fraud. The exlenl to which our procedures are capable of detecting irregularities, including fraud is detailed below.. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following.. 13
Orchardville Society Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Orchardville Society Limited (continued) Year ended 31 March 2023 Audltor's responsibilities for the audit of the financial statements the nature of the industry and sector. control environment and business performance including the design of the remuneration policies, key drivers for directors, remuneration, bonus levèls and performance targets., results of our enquiries of management about their own identification and assessment of the risks of irregularities.. any matters we identified having obtained and reviewed documentation of their policies and procedures relating to.. identifying, evaluating and complying with laws and regulation5 and whether management were aware of any instances of non-compliance., detecting and responding lo the risks of fraud and whether management have knowledge of any actual, suspected or alleged fraud., the internal controls established to rnitigale risks of fraud or non-compliance with laws and regulations. the matters discussed among Ihe audit engagement team including significant component audit teams and relevant internal specialists, including tax and valuations specialists regarding how and where fraud might occur in the financial slalements and any potential indicators of fraud. As a result of these procedures, we considered the opportunities and incentives that may exist within the organi5ation for fraud and identified the greatest potential for fraud. In common with all audits under ISAS (UK), we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks in operation, focusing on provisions of those laws and regulations that had a direGI effect on the determination of material amounts and disclosures in the financial slatemenls. The key laws and regulations we considered in this context included ongoing compliance with the UK Companies Act and tax legislation. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental for their ability to operale or to avoid a material penalty. 14
Orchardville Society Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Orchardville Society Limited (continuéd) Year ended 31 March 2023 As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain piofessional scepticism throughout the audit. We also.. Identify and assess the risks of material misstalemenl of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion. forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal conlrol relevant to the audit in order to design audit procedures that are appropriate in the circumstances. but not for the purpose of expressing an opinion on the effectiveness of the internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and, based on the audit evidence obtained. whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability lo continue as a going Concern. If we conclude that a material uncertainty exists. we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, lo modify our opinion. Our conclusions ale based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charity to cease to continue as a going concern. Evaluate the overall presentstion, structure and content of the financial statements, including tho disclosures, and whether the financial statements represent the underlying transactions and even15 in a manner that achieves fair presentation. 15
Orchardville Society Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Orchardville Society Limited (contlnuad) Year ended 31 March 2023 We communicate with those charged with gavernance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report This report is made solely to the charity's members, as a body. in accordance with Chapter 3 of Part 16 of Ihe Companies Act 2006. Our audit work has been undertaken so that we might state to Ihe charity's members those matters we are required to stale to them in an auditor's 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 charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed. Paul Dolan FCA (Senior Statutory Auditor) For and on behalf of Finegan Gibson Ltd Chartered accountants & statutory auditor Causeway Tower 9 James Street South Belfast BT2 8DN 281h November 2023 16