Centre for Cross - Border Studies (company Ilmlted by guaratit¢¢) INDEPENDENT AUDITOR'S REPORT TO THÉ MEMBERS OF CENTRE FOR CRO&S4ORDER STUDIES p.ort on the audlt of th• flnanclal statgments. We have audttod the financlal statements of Cth for Cros8-Border Studles Clho Charltabb Company,) forfhe year ended 31 July 2023 set out on pag•B 12 to 28, whlch (x)nlprf8e tho atem&)t of financlaj •Gtlvllles (kncluding IDcome and expendSiure a¢court), the bnce 8heat,'the 8talémtt of cash flows and related not88, kncludlng the ' SUMM of $lgnllFant ac¢ountlng I11010& #et out In note l.The financSal reportlng frameork that been appllad In thelr pr8parnllon18 UK Lw and FRS 102 The Flnanthal Reporting PAandard applkable In the UK and Republlc ol Irelan In our oplnlon: the financlal statements glve a tNe and falr vl8w of the 8tate of the Charftable COM$ affalr8 88 at 31 July 2023 and of tts Ihcomlng re8aurce8 arid application of reBources')ncludlng its Income and expéndlture proflt for yearthen endad, tho financlal 8totement6 have baen property prepared In.accordan¢e wlth FRS 102 The Flnan¢lal Reportfng Patsndard applicable In the UK and Republb of Ireland;grKI the financlal 8taternnts have been prepared In aecordance wRh the requlrements of the Compahies Act 2008. We our audft In aacord¢8 wlth Intematlonal Standar(ts on Al11 Ing (UK) (ISAS {UK)).ond applkable law: Ow r8skM)n8lbllltlas under those 8tandard8 are fiirther d88crlbed in the Audltorf8 wnshlties for lh• audlt of the financhl 8lat•inent8 8got1 of our rq)ort, We ar• Independent of. the Ch84ltable cOnY In accordanc• ' h1¢•I requlrements that are relevant to our audft of ITIcIal statOnts In tha UK, In¢luding the Fknanclal" Rèportlng Councll (FRC)'s Ethkal Stan(lard, and wa have fuirfbd our other athfcal re8pon8lbllltle8 In accordance with Ilme requlrameni8. We bolleve that the audlt we have obta&ryed18 sufficlent and approprfate to provide a basls for our oplnlon. Conclu3lons r•lattng to golng concem The Tru8te88 have prepared the th?la1 Statements on the going concem basls as they do not Mltend to Ifquldate the Charkablo Company or to cease K8 operatiDn8, and.a8 they hav8 conclu(led that thè Chartt8ble COPanY'S. fnanclal p081tlon mean8 that th181s reall8tlc. They have also ¢Ohcluded that there are rio matsrial uncortalntles that IUld Iwe cast slgnfflcant thbt over Its ability to CtInUe a6 a golng concem for at Jea8t a year from the date of approval of Ihe flnanclal Statt8 (Ihe golng concem poriod). In our evaluation of ts TN&tee Conc810n$, we consldered the Inhernnt tsk8 to the Chwitable. Compaoy'8 bu8lne88 and analysgd how th086 rlsk8 intghl affect t Charlta)16 Compan18 finala1 resour or ablllty to contlnu• q)eratlons ovw the golng conc•m perfod. In audftlng the flnanthl 8tataents we hav• 0cluded that the Tru8tee'8 use ofthe gwg oonceth ba818 of accounttw In the preparalon of thé financlal Statements Is approprlate. Ba8ed on t VK)rk we ha performed, we have not IdentIf any materfal unthirtth8 relaling to ev•nls or eondltlon8.tht, Indlyklually orlleCtIvelY, may ¢a&t 81gnl11t doubt on thè Charftab'l8 clipal8 abrtty to contlnue"a8 a gng concem fry a period of at loast £webrn months from Ihe dat• when the financlal 8tatemants are aulhorhed for188ue, Our responsbllltles arid tho. r8spon8lbllltl88 of the tru8te8s Wkh respect to golng oon¢em are deswlbed In the relevant 8ection8 of th18 rei)orL
Centre for Cross - Border Studies (tompony lknlted by 8uaranlee) INDEPENDENT AUDrroR'S REPORT TO THÉ MEMBERS OF CENTRE FOR CROSS-BORDER STUDIES - contlnued Howev¢r, a8 we cannot predlct al luture events or condltlon8 and as subsequent ovarts may regult In cxrtcome8 Ihat are Incon8ts1ent wlth JuthJement8 th were reasonabb at the thne they wer• made, the ab8ence of r•ferance to a materlal unrtaInty In thls a13 report ts not a guarantee that the Charftable Company wlll contlnue In operatbn. Dot•ctlng Irregularltle8 Includlng fraud We idenufied the araa8 of laws and reguknfjon8 that could reaeonably be expected to have a materlal fjffect ¢)n the finandal 8taternent8 and d8k8 of meierlal m188tatem8nt du8 to fraud, u8lng our und8r8tandlng of the •ntlty'8 Indu8try, regulatory envlronment and other extemal factor8 and Inqulry wlth the Tru8iee8. In addlilon, our rlsk a88eS8mont procedure8 Sncluded: Inqulrlng with the Trustffis a8 to the Charitabl8 Company'8 poliGl88 and proGedures regarding conyllance wlth lthvs and regulatkn8 and prevention and dettttlon of fra. knqulrlng whether the Tru8tee8 have knowq•dge of actual or 8U8pected non-compllance wlth law8 or regulallons or alleged fraud: In8WtINJ tho Charllable Company'8 regulatory and legal corre8pondon¢•; and readlng Board mlnutes. We d18CU88•d Identilkd laws aNI regulatson$, fraud rlsk factor8 and the need to r8maln akn among the audft team. The Charitable Company18 subJ•ct to lthvs and regulatlon$ that directly aftect the finan&al statements Includlng companS88 and Ilnandal r•ptythg legtslatkn. We a88•ssed the extent of compllance wlth these laws and regulatlons a8 part of our pro¢edure8 on the related finan1 8tat&nent IterrA, Includlng 888e8skn9 the Ilnanclal statement d18cIo8ure6 and agrgelng them Io 8UPPOrtlng documentatknn when rR¢e$6ary. Th• Chaiitablo Company Is not subject to other IM and regulatlons whern the crnquences of nonwcompllan could have a materS8l effect on amounts or di8clo8ure8 In the fingmal statements. . Audltlng 8tandard8 lknll lh& requlred audlt procedur•s to Identlfy nOnCOmplIanca wtth these non4lrect law8 and regulatlon8 to Inqulry of the Trustse8 and In8pectlon of ragulthry and legal corre8pondenca, If any. Th88• limited procedure8 dld not Identlfy actual or 8U8pected non4ompllance. We a8$essed events or condlttons that wld indicate an Incentlw or prnssure to commlt fraud or wlde an opportunity to commli fraud. AS rwulrad by auditin9 Standards, we pwfoimed proceduros to addre$8 the rlsk of management overrlde of controls. On thi8 audtt we do not belleve there Is a fraud rl8k related to revenue r•wnlllon. We dld Mt klentlfy any addlllonal fraud rf8k8. In mpon$o to rk of fraud. we al80 pwhm18d procedures Includlng: 1denfyIn9 Joumal entrlo8 to test ba8ed on rhk ¢rlt•rk and ¢omparkng the Idendrd entrigs to supportlng doclentatIon. evaluallng the busln•s$ purpose of 6lgn1fnt unusual lrnn8actlon8', a88068ing 8lgnifi¢ant accounilng estlmates for blas; and as8u$ing the dl8cIo8ures in the financlal statents. Owlng to the Inherenl Ilmllalion8 of an audlt. there18 an unavcldabb r18k that we may not have detected som• materAal ml88tatements In the financSal Statements, even though we have prop•rty planned and pwhm18d our audlt In accordanc• wiu) auditing standards. For exampl•, the further removed non4onwliance wlth la and regulallons (irregulerities) Is from tho ev•nt8 and tran8action8 reflectsd'ln the finandal statements, the1688 likely the IntntlY Ilmlt•d pr$dureS requlred by audlting stsndard$ would klentlfy It. In addttlon. a8 with any audlt, there rem8ln8 a hlgher rf8k of non-delectlon of Irregurldes, as the88 may Imffjlva co1kn81on, forgery, Intentional om1885on8, nknpre8entation8, (Y the overrlde of Internal controls. We are not re8ponsSble for preventlng non•compllance and cannot bo expothd to detect non-conwlance wfth all law8 and reguon$. Othorlnfomwdon The tru8te8s are r•8pon$ible for the other infomiafjon pr88ented In Iho Annual Report together wlth the financlal statements. The other Infomiation comprkns Ihe inf¢Nmatbn Included In the tru8tee8' wort. The finan¢ial statements and our audl(s report thereon do not comprhe pwt of the other Infom)atlon. Our oplnlon on Ihe finala1 Statalnts d088 not cover the other InfMatIon and, ac¢ordlngly, we do nol express an audtt q)Inlon or, Isxcept a8 expllcluy Slated bel, any fomi of as8Uran ¢onclu81on there(x).
Centre for Cross - Border Studies (¢ompAny Ilmlted by guarantee) 10 INDEPENDENT AUDITOR'S REPORT TOTHE MEMBERS OF CENTRE FOR CROSS-BORDER STUDIES - contlnued Our respCS1bI11ty18 to read the other rfomRtion d, in doing 80, Gonsidor whether, based on our financial 8tatenxnts audl wort(, the InfomRtbn Ihweln Is rnaterlally mhsiated or In¢onsl8tont wlth the ffnan¢lal Statemonls or ¢)ur audlt knowledw Based 801ely on that Work have not identified material mi8¥tatem¢nts in the ther Inf0mlOn. Bas•d 8ololy on our work on the (ther Infomiion underten during the course of the audit: . we have not klentlfied matarlal mlsstatmnts In the trustses, r•port; . In our oplnion, the Inf(mnallon glven In the Iru8tees' report Is o)n618tent wllh the fina01 8tataments; and • in our oplnion, the tru8tees' report ha8 been prepared in a¢¢ordan¢e with the C(xnpani•8 Acl 20tI3, IAatt•rs on whlch arn rnqulrnd to report by excepllon Under the Companle8 Act 2006 we arn requlred to rewt to If, In our opkllon: adequate ontIng record8 have not been kept. or return8 adequth for our audli ha nol been recelved frcn branche8 not vl8lled by u8, or the financlal Staternents are not In agreement with tho accountlng records and retums; or rtakn d18cIo8ure8 of tru81ee8' rUneratiOn 8pedfied by law are not made; or we have not receSved all th6 Infomiatlon and 8xplanatloni we requlre for our audlt; or the tru8tee8 were not errtltl8d to tako 8dvanlag8 of the small companies exemptlon from the requirnment to prewe a 8trategk rewt We have nothlng to report In these r88pects. Re8p8ctlv8 respon8lbllltlo8 and re5tr1ctlong on ug6 RponSIbIlI•S of trustees for tho ffnanclal stateMtr As explaln•d fully In the tfU8lee8' re8ponsU)Illtl88 Statement 8et out on page 7, the trustee8 we re8pon81ble for: the preparation of the financlal statements Includlng belng 88tl8fied that they glve a true and falr vlew, such Intemal control as they determlne Is necessary to enable the preparatlon of financlal Statements thal are free frcn matsrial ml68tatThn( ether due to fr&KI or error, 888e88kn9 the Chwttable Compan8 abilliy to conllnue as a golng con¢xm, dlsdosing, a8 applkabb, matter8 related io golng concem; and using Ihe going concem baso of aCcntIng unle88 they elther Intend to Ilquld the CharRable Company or to cperatlons, or have no rèallstlc aliematfve but to do 80. Audltorfs respOl)llItIeS for th• audt of th• ftnanelal 8tatements Our cyecoves are to obt8in r•a80nabl8 a88ur8nce about whettr the fInala1 statements as a whole are free fr matsrial misstat8m8n( wh•th•r due to fraud, other IrregularS1ie8 or errcK, and to i88ue an opinlon In an audltorfs report. Reasble 88surance18 a hlgh kvel of as8uranc8 but18 not a guarantee th8t an audtt (x)nducted In accordance wlh ISA8 (UK) wlll always detect a materlal ml88latemenl when li ex16ts. MIs8tatement8 can arbe fr fraud, other Irrogularities or error and arn con8klered material I, Indivklually or In Ihe aggregate. they could a80nably be expected to Infiuence the econom1¢ de¢i$ioro of Lts•r3 takw on Iho basls of thase finan¢lal A fuller doscrfptton of our responsl)lttle6 b provldod on tho FRC'S web8fte at www frc.or auditorsfe
Centre for Cross - Border Studies (eonwany Ilmlted by 8uarAntse) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CENTRE FOR CROSS-BORDER STUDIES - contlnued The purp060 01 ouraudlt workand to whom w• ow• our rn8ponslblllt108 Our report 18 made solety to the Charftable CompanV6 members. as a body, In accorda wlth Chapter 3 Part 16 of the Companles Act 2008. Our audlt work ha8 been undertaken P•0 thal we mlghl slate lo the Charilable Companrf8 members those matt8r8 we are requlred to state to them In an audltorf8 report and for no other purp08e. To Ihe fulle8t extent perrrmtted by law. we do not accept or a88ume r88ponsibility to anyone other than Ihe Charftable Company and Ihe Charftable ConN)anYs rIer8. as a body, lor our audlt work, lor ihis report or for the oplnk)n8 we have fomied. Slgnatur•: John Pool• {SenloY statOrY Audllor) for and on behall ol KPMG Statutory Audllor The $01018t Bulldlng l Lanyon Plac• Bowa BT13LP 29 Aprll 2024
Centre for Cross- Border Studies (company lknlt¢d by guarantee) 12 Statement of fmancial activities (ineluding income & expenditure account) for the year ended 31 July 2023 Unrestricted Restricted Funds Totsl Funds 2023 Total Funds 2022 Nots Income: Other tradll)g activities Income from ¢hexitsbl¢ activities 338,595 338A95 291273 630068 349.989 243.897 593,886 292273 292273 Totsl Income 338,595 Expendlthre: Charitable a¢tAviti¢s Exp*nditure on raising funds Total expendlture Net Income for the year Reeoneiliation of funds (296264) (7500) (303,764) (11,491) (317,842) (614,106) (7) (621ffj06) 9262 (511,877) (7,500) (519,377) 74509 (317,842) 20,753 Totsl funds brought forward at l AMgll8t Net Income for the year Transfer between hn(L8 16 521,080 (11,491) 417,814 20,753 938094 9262 864J85 74509 Totsl funds earrled forward at 31 Juty 16 509,589 438,567 948,156 938,894 All amounts above relats to wntinuing operations of the charitsble Company. The statemlt of fmancial activities includes all gains and losse8 recognised in the year. Notss on pages 15 to 28 forn) part of these financial statements.