TRAINING FOR WOMEN NETWORK LIMITED REPORT OF THE TRUSTEES YEAR ENDED 31 MARCH 2024 TQUK Level 3 Mentoring TQUK Level 5 TEFL 8-Future Events Quarterly Networking Evenings AGM Newsletters and ezines. 9- Funds held on behalf of others. TiNN does not hold funds on behalf of others. 10. Trustees, responsibilities ststement The trustees {wlK) are also the directors of Training for Women Network Limited for the purposes of company law), are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure of the charitable company for that period. In preparing these financial slaterrEnts, the trustees are required to.. select suitable accounting policies and then apply them consistently: observe the methods and principles in the Charities SORP 2019 (FRS102)" • make judgments and accounb'ng estimates that are reasonable and prudent; state whether applicable UK AccountirwJ Standards have been followed. subject to any material departures disclosed and explained in the financial sL3tements: • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taknng reasonable steps for the prevention and detection of fraud and other irregularitES. 11. Auditor Each of the persons who is a trustee at the date of approval of this report confims that: so far as they are awa, there is no relevant audit information of which the charity's auditor is unaware. and Page 7
TRAINING FOR WOMEN NETWORK LIMITED REPORT OF THE TRUSTEES YEAR ENDED 31 MARCH 2024 they have tsken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006. 12. small company provision5 This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exempts'on. The Irustees, annual report was approved on 6 May 2025 and signed on behalf of the board of trustees by: ley- one erine Mccloskey Treasurer Chairperson Page 8
CHARTERED ACCOUNTANTS & REGISTEf2ED AUDITORS Training for Women Network Limited Company Limited by Guarantee Independent Auditorfs Report to the Members of Training for Women Network Limited Year ended 31 March 2024 Opinion We have audited the financial statements of Training for Women Networf( Limited (the 'charitable company,) for the year ended 31 March 2024 which comprise the statement of financial activities (including income and expenditure account), the statement of financial position, 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 FRS 102 The Financial Reporting Stsndard applicable in the UK and Republic of Ireland {United Kingdom Generally Accepted Accounts'ng 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 March 2024 and of its incoming resources and application of resources. induding its income and expenditure. for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice", have been prepared in accordance wrth the requirements of the Companies Act 2006. Basts for opinion We conducted our audit in accordance with Intemational SLqndards on Auditing (UK) IISAS {UK)) and applicable law. Our responsibilities under those standards are further described in the auditorfs responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requireffEnts that are relevant to our audit of .the financial statements in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtsined 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 concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have nol identffied any matenal unrtainS relating to events or conditions that, indNidually or collectively. may cast significant doubt on the charitable company's ability to continue as a going conrn for a period of at least twelve months from when the. financ1 statements are authorised for issue. Our responsibilities and the responsibilities of the tnjstees with respect to going concern are described in the relevant sections of this report. BMK Accounting Limited (CoMnY No. N1032272) 43 Lockview flood Bellost BT9 Tel.. 028 W38 1755 Emoil. into@bmkco.eom www.bmkca.com Chartered Accounianis Ireland -Page 9- Oirector Mr¥ee FC
Training for Women Network Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Training for Women Network Limitsd Year ended 31 March 2024 Other Information The other information comprises the information included in the trustees annual report. other than the financial ststements and our auditorfs report thereon. The trustee is responsible for the other information. Our opinion on the financial statements does not cover the other infonnation and, except to the extent othepwise explicitly stated in our report, we do nol express any fom of assurance conclusion thereon. In connection with our audit of the financial statements. our responsibility is to read the other information and, in doing so. consider whether the other infomats'on is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misststements, we are required to determine whether there is a material misstatement in the financial statements or a material misststement of the other information. If, based on the work we have performed, we conclude that there is a material rnisstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 21)06 In our opinion. based on the work undertaken in the course of the audit.. the information given in the trustees, report (incorporating the directors. report) for the financial year for which the financial ststements are prepared is consistent wrth the financial statements., and the directors. report has bèen prepared in accordan with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audiL we have not identified material misstatements in the directors. 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 rf. in our opinion: adequate accounkn.ng records have not been kept, or retums adequate for our audit have not been reiVed from branches 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 entitled to prepare the financial staterrÉnts in accordance with the small companies, regime and take advantage of the small companies. exemptions in preparing the directors, report arKJ from the requirement to prepare a strategic reporL - Page 10
Training for Women Network Limited Company Limited by Guarantee Independent Auditorfs Report to the Members of Training for Women Network Limited Year ended 31 March 2024 Responsibilities of the trustee As explained more fully in the trustees. responsibilities statement, the trustees {who are aSso the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they gNe a true and fair view. and for such internal control as the trustees determine necessary to enable the preparation of financial ststements Ihat 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 abilty to continue as a going concern. disclosing, as applicable, matters related to going concem 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 realist altemative but to do so. Auditofs 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 auditor's report that includes our opinion. Reasonable assurance is a high Ie1 of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always 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, including fraud, are instances of non-compliance with laws and regulations. Vve design procedures in line with our responsibilitie5, oudined above, to detect material mi55tatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. Extent to which the audit was considered ¢apable of detscting irregularities, including fraud We identify arKI assess the risk of material misstatement of the financial statements, whether due to fraud or error. and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropnate to provide a basis of opinion. In identifying and assessing potential risks of material misstatement in respect of irregularities, including fraud and non<ompliances with laws and regulations, we considered the following.. The nature of the industry and sector, control environment and business performance. including the company's remuneration policies for directors. bonus levels and perfomian targets. if any; Results of our enquiries of managemenl about their own identification and asses5ffent of the risks of irregularities-, Any matters we identffied having obtained and reviewed the company's documentah'on of their policies and procedures relakn'ng to.. - Page 11
Training for Women Network Limited Company Limited by Guarantee Independent Auditor's Report to the Members ofTraining for Women Network Limited Year ended 31 March 2024 Identifying, evaluating and complying with laws and regulations and whether they are aware of any instance of non-compliance; Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud,. and Extentto which the audit was consldered capable of detecting irregularities, including fraud (continued) The internal control established to mth'gate risks of fraud or non-complian with laws and regulations- The matters discussed among the audit engagement team regarding how and where fraud might occur in the financial slatements and potential indicators of fraud. As a result of these procedures. we considered the opportunities and inntiveS that may exist within the company for fraud and identified the greatest potential for fraud in revenue recognition. 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 that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the Companies Act 2006. 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 to the company's ability to operate or to avoid a material penalty. Audit responses to risks identified Our prOdureS to respond to the risks identified included the following: Reviewing the financBI statement disclosures and testing to supporting documentats'on to assess compliance with provisions of relevant laws and regulakn'ons described as having a direct effect on the financial statements., Enquiring of management conMIng actual and potential litigation and daims; Perfoming analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatements due to fraud: Reading minutes of meetings of those charged with governance. and In addressing the risk of fraud through management override of controls. testing the appropriateness of joumal entries and other adjustments,. assessing whether the judgements made in making accountin9 esb'mates are indicats've of a potential bias.. and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. - Page 12