Arbour Housing Limited
Year Ended 31 March 2023
Independent Auditor's Report
Opinion
We have audited the financial statements of Arbour Housing Limited for the year ended
31 March 2023 which comprises the statement of comprehensive income, the statement
of changes in reserves, the statement of financial position, the statement of cash flows
and the related notes to the financial statements, including a summary of significant
accounting policies.
In our opinion the financial statements:
give a true and fair view of the state of Arbour Housing's affairs as at 31 March 2023
and of its surplus for the year then ended.
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice (United Kingdom Accounting Standards, comprising FRS 102 "The
Financial Reporting Standard applicable in the UK and Republic of Ireland"
and
applicable law)"; and
have been properly prepared in accordance with the requirements of the Co-operative
and Community Benefit Societies Act (Northern Ireland) 1969. the Registered Housing
Associations (Accounting Requirements) Order (Northern Ireland) 1993. Article 19 of
the Housing (NI) Order 1992; Regulation 9 of the Charities (Accounts and Reports)
Regulations (Northern Ireland) 2015; and the Charities Act (Northern Ireland) 2008.
Basis of opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS
UK)) and applicable law. Our responsibilities under those standards are further described
in the Auditor's responsibilities for the audit of the financial statements section of our
report. We are independent of Arbour Housing 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 we have fulfilled our other ethical responsibilities in accordance with
those requirements. We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our opinion.
Conclusions relating to going concern
We have nothing to report in respect of the following matters in relation to which the ISAS
(UK) require us to report to you where.
the Board of Management's use of the going concern basis of accounting in the
preparation of the financial statements is not appropriate; or
the Board of Management have not disclosed in the financial statements any
identified material uncertainties that may cast significant doubt about Arbour
Housing's ability to continue to adopt the going concern basis of accounting for a
period of at least twelve months from the date when the financial statements are
authorised for issue.
However, because not all future events or conditions can be predicted, this statement is
not a guarantee as to the association's ability to continue as a going concern.
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Arbour Housing Limited
Year Ended 31 March 2023
Independent Auditor's Report (cont'd)
Reporting on other information
The other information comprises the information included in the Report of the Board of
Management other than the financial statements and our auditor's report thereon. The
Board of Management is responsible for the other information. Our opinion on the financial
statements does not cover the other information and, except to the extent otherwise
explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the
other information and, in so doing, consider whether the other information is materially
inconsistent with the financial statements or our knowledge obtained in the aLJdit or
otherwise appears to 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 misstatement 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.
Opinion on other matters prescribed by the Companies Act
In our opinion, based on the work undertaken in the course of the audit;
the information given in the Report of the Board of Management for the financial
year for which the financial statements are prepared is consistent with the financial
statements. and
the Report of the Board of Management has been prepared in accordance with
applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of Arbour Housing and its environment
obtained in the course of the audit, we have not identified material misstatements in the
Report of the Board of Management.
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 returns adequate for our audit
have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and
returns. or
we have not received all the information and explanations we require for our audit.
18

Arbour Housing Limited
Year Ended 31 March 2023
Independent Auditor's Report (cont'd)
Responsibilities of the board of management
As explained more fully in the Board of Management responsibilities statement the Board
of Management is 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 Board of
Management 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 Board of Management is responsible for
assessing Arbour Housing's ability to continue as a going concern, disclosingi as applicable,
matters related to going concern and using the going concern basis of accountingi unless
the Board of Management either intend to cease operations, or have no realistic alternative
but to do so.
Auditor's responsibilities for the audit of the f inancial 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 level 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 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 procedures in line with our responsibilities, outlined above, to detect material
misstatements in respect of irregularities, including fraud. The extent to which our
procedures are capable of detecting irregularities, including fraud is detailed below: a. 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: timing of recognition
of income and posting of unusual journals. To address those risks we discussed the risks
with client management and designed audit procedures to test the timing of revenue
recognition and tested a sample of journals to confirm they were appropriate.
A further description of our responsibilities for the audit of the financial statements is
located
on
the
Financial
Reporting
Council's
website
at
www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors, report.
Use of our report
This report is made solely to the Board of Management, in accordance with Article 38 of
the Co-operative and Community Benefit Societies Act (Northern Ireland) 1969 (formerly
the Industrial and Provident Societies Act (Northern Ireland) 1969). Our audit work has
been undertaken so that we might state to the Board of Management those matters that
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 Society and the Board of Management, for our audit work, for this report, or for
the opinion we have formed.
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Arbour Housing Limited
Year Ended 31 March 2023
B Clerkin (Senior Statutory Auditor)
for and on behalf of ASM (B) Ltd
Statutory Auditor
Glendinning House
6 Murray Street
Belfast
BTI 6DN
(date)
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