CH14RT4RBg AccouNfhNTS MAINSTAY DRP INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MAINSTAY DRP Opinion We have audited the financial statements of Mainstay DRP {the 'charity'} for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial stalemer)ts, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Iroland {Uniled Kingdom Generally Accepled Accounting 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, including its income and expenditure, for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for oplnlon We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS IUKI} 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 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 we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. 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 preparation of the financial slalements is appropriate. Based on Ihe work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast 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 statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report. -41fred House 19.41fred Street Btr'lth'JlS-J' II'1'2 8Tr.Q DK3910 NR Ilelfast ?0 Centurv House 40 Cre.seLnt Busin&%s Park 17 M4ndL*xll¢ StvLLI PORT,it)011 I.ISBI', RN 1-62 3PB I'cl.. +44 {0)28 9031 IIIq . +44 (0)28 9031 / Tel., +44 (0)28 9260 755 Tr'ax: +44 (0)28 9260 1656 Tel: +44 {0)28.38.33 2801 Fax: +44 (0)28.383 j 0293 rhHrtI'nyl I'h4rterwlTaK IireM4ir.lTri)IialAnLq l-iYtKAatpl.tnxni* ￿1¥￿&r4 Ivw.wiicgea.com CHAkTEABO ACCOL¥tANT8 MAINSTAY DRP INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF MAINSTAY DRP Other information The other information comprises the information included in the annual report other than the financial statements and our auditor's report Ihereon. The Iruslees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except lo the extent othenNise explicitly slated in our report, we do not express any form of assurance conclusion Ihereon. Our responsibility is lo read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of 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 this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed. we conclude that there is a material misstatement of this olher information, we are required to report thal fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of our audit.. the information given in the trustees, report for the financial year for which the financial statements are prepared. which includes the directors, report prepared for the purposes of company law, is con51Stenl with the financial statements., and the directors, report included within the trustees, report has been prepared in accordance with applicable legal requirements. Matters on whlch we are requTred to report by exception In the lighl of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstaternenls in the directors, report included within the trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Acl 2006 requires us lo report lo 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 certain disclosures of trustees, remuneralion specified by law are not mad8', or we have not received all the information and explanalions wè require for our audit- or the trustees were not entitled to prepare Ihe financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in prepar¢ng the trustees. report and from the reqLJirement to prepare a stralegic report. .41fred House 19.4lfred Stroet BELTr',IS'I' II'1'2 8b.Q DX.3910 .NK Jlclf¢lSt so Cvnturv Hou$e 40 CrLSL'Lnt IIu¥inLkn Park I.I.SBUIL%4 B'l28 2G. iry Mandevillc StrL'L't POR'I'.Kt)oiv¥ Iri'62 3VIJ Tel: +44 (0}28 9031 III3 F&x: +44 10)ry8 9031 OT7 I'cl: +44 10)28 9260 7.355 +44 10)28 y260 1606 Tel: +44 (0)28 3833 2801 F&Y: +44 (0)28 383a 0293 rhampr￿1 ws*Trv.gmcxe4.COtn CHAiLTE#80 ACCOL'¥fAt%TS MAINSTAY DRP INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF MAINSTAY DRP Responsibilities of trustees As explained more fully in the statement of trustees, responsibilities, the trustees, who are also the directors of the charity for the purpose 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 truslees determine is necessary lo enable the preparation of financial slalements that are free from material misslatemenl, whether due lo fraud or error. In preparing the financial slatemenls, the trustees are responsible for assessing the charity's ability lo continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accoLJnting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financlal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due lo fraud or error, and to issue an audilols 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 delecl a material misstatement when il exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on Ihe basis of these financial slatements. The extent to which our procedures are capable of detecting irregularities, including fraud. is delailed below. Alfred House 19-4lfred Street BELb'iLS'J' B-I'2 8b.Q DX3910 )R Bclfasrt.s0 Centurv House 4() Crescent B￿SIn￿ Park LISBITR B"1'28 2G.Y 17 MundLwiIIL. StrL'Lt PORI',IDONVN CrHl¥aVIITI r62 3PB Tel: +44 {0)28 9031 IJ13 Tr4x: +44 (0)28 903J 07Tr Tcl: +44 {0)28 9260 7.1fj.5 Tr￿.. +44 {0)28 9260 16-6 Tel: +44 (0)28.3833 2801 F&x.' (o)28 383j 0293 rharli'nxl Rr￿¥I￿.re￿ *iv.gmcgca.eom CHART&REt¥ ACCOLYTANTS MAINSTAY DRP INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF MAINSTAY DRP Extent to which the audit was considered Capable of detecting irregularities, including fraud We identify and assess the risks of material misstatement of the financial stalemenls, whether due to fraud or error, and then design and perform audit procedures responsive lo those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. In identifying and assessing potential risks of material misstatement in respect of irregularities, including fraud and non-compliances wilh 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 performance targets, if any., Resulls of our enquiries of management about their own identification and assessment of the risks of irregularities., Any matters we ￿dentIfied having obtained and reviewed the company s documentation of their policies and procedures relating to.. Identifying, evaluating and complying with laws and regulations and whether they were 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 The internal controls established to mitigate risks of fraud or non-compliance with laws and regulations.. The matt8rs discussed among the audit engagement team regarding how and where fraud might occur in the financial slalements and potential indicators of fraud. As a result of these procedures, we considered the opportunities and incentives 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 IUKI, we are also required to perform specific procedures to respond lo 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 disclosLJres in the financial statements. Th8 key laws and regulations we considered in this context included the Companies Act 2006. and local lax legislation. In addition, we considered provisions of other laws and regulations thal do nol hav8 a direct effect on the financial statements but compliance with which may be fundamental to the company's ability lo operate or lo avoid a material penalty. -41fred House A9..Ilfred Street BI.-LTr',IS'I' II'1-2 8Tr.Q D.X3910 R Belfast ?0 CLnturv HIiiL%L 40 Cre.KLnt Bu.4inL%i* P4rk I.I.SBI'. 11.128 2GN 17 Mundevillc SlrcLt PQRI'Iil)OIVN Ifl-6ry 3YII Tel: +44 (0)28 9031 111.8 +44 {0)08 9031 Orry Tel.. +44 {0)28 9260 735D '8X: +44 10)28 9260 1656 Tel: +44 (0)28.383,3 2801 F&Y.' +44 (0)28 3835 0293 krys1p￿1 luililnr4 www.gjiicgca.com CHARTERED ACCo￿￿TANTs MAINSTAY DRP INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF MAINSTAY DRP Audit response to rlsks identified Our procedures lo respond lo the risks identified included the following.. Reviewing the financial statement disclosures and testing to supporting docurnenlation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements., Enquiring of management concerning actual and potential litigation and claims., Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due lo fraud., Reading minutes of meelings of those charged with governance and reviewing correspondence with lax authorities., and In addressing the risk of fraud through management override of controls, testing the approprialeness of journal entries and other adjustments,. assessing whether the judgements made in making accounting estimates are indicative of a potential bias,. and evalualing the business rationale of any significant transactions that are unusual or outside the normal course of business. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misslalements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. In addition, as with any audit, there remains a higher risk of non-detection of irregularities, as they may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventirig non-compliance and cannot be expected to detect non- compliance with all laws and regulalions. A further descnption of our responsibilities is available on the Financial Reporting Council's website at.. hltps'.11 www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report. 10 Alfred Hollse 19..Ilfred Street B Tr:i.F,%sr il'i'2 8EQ D.K3yio.NR Belfast 50 eLnturv House 40 CresLLnt Busin&*s Park I.ISBI',RD* B'I'28 2G.Y A7 LMandc%Thlle StreLI PnR'I',IIX)IVN Iri'62 3YB Tel: +44 (0)28 9031 IIL3 Trax: +44 {0)v)8 9031 OT. TL.I: +44 {0)Tr8 9260 n55 Trax: +44 {0)28 9260 1656 Tel.. +44 10)28 3833 2801 Fax: +44 10)28 383j 0293 www.gmcxLa.co ¢HART&JiBD hCCOUNTANTS MAINSTAY DRP INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF MAINSTAY DRP Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state 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 lo anyone other than th8 charitable company and the charitable company's members as a body. for our audit work, for this report, or for the opinions we have formed. Mr Nigel Moore FCA (Senior Statutory Auditor) for and on behalf of GMCG BELFAST 26 November 2024 Chartered Accountants Statutory Auditor Chartered Accountants & Statutory Auditor Alfred House 19 Alfred Slreèt Belfast BT2 8EQ 11 Alfred House 19.41frtd Stroet Bb'LTr',iS'I' II'1'2 8b.Q DX.3910 NR Ilclfasrt.s0 CL"nturv House 40 Crr..SLLrJl IlusinLss Park -J.SBI'. R B'A OC'N VORI",IDOIVN 1.62 3PB Tel: +44 10}28 9031 1113 +44 (0)ry8 9031 OT7 Tel: +44 {0)28 9260 79S5 ax: +44 10)28 9260 1656 Tel: +44 {0)28.9833 2801 FLX: +44 (0)28.883j 0293 'iirpnsv'.4rffiiinlints wwryv.8nicgca.eom