Newington Housing Association (1975) Limited Independent Auditors, Report to the members of Newington Housing Association (1975) Limited 15 Opinion We have audiled the financial staiements of Newington Housing A550ciatioTh (1975) Litnited {'the As5'0¢iation") for the year ended 31 March 2023 which comprises the statement of covnprehensive income, the statement of changes in rescrves, the statcment of finanLial position and thc related notes to the finsm¢ial statements. including a summary of sI1f7¢?nI accounting policies. The financial reponing franiework thai has been applied in iheir prepardtion is appli¢able law and United Kingdom Accouniino Standards, including Financial Reporting Stalldard 102- The Financial Reporting Standard applicablc in th¢ UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice) aThd the Housing SORP.. Statement of Reconunended Prnctice for Social Housing Providers. In our opiniotL the financial staiements- give a truc and fair view of the state of the Association's affairs as at 31 Mch 2023 and of its SUluS for the year then ended. have been properly prepared in accordance with United Kingdom Generdlly A¢cepted A¢couDtitig Prnctice" and have been properly prepared in accordance with the requirements of the Co-operative and Community Benefit Societies Aci (Northern Ircland) 1969 (forni¢rly the Industrial and Provident Societies Act (Northern Ireland) 1969), with the requiTements ot- Arti¢le 19 of the Housing (Northern Irelalld) Order 1992. Regislercd Housing Associatiolls (Accounting Requirements) Ordei. (Northern Lreland) 1993, the Chdritics Act (Northern Ireland) 2008 and Regulation 9 of the Charities (Accounis and R¢ports) Regulations (Northcrn Ireland) 2015. Basis of opinion We conducted our audit in a¢¢ordan¢e with InieTnaiional Stalldxrds on Auditing {UK) (ISAS UK) and applicable law. Oui. responsibilities under those standards #re fiwther described in the auditors, responsibilities for the audii of the fmaneial statements section ot our report. We are indep¢ndent of the Association in accordance with the ethical requirements that are relevaul to our audit of the financial stateinents in the UK. including the FRC'S Ethical Standard. and we have lfilled our other ethical respoiisibilities in accordance witli thos¢ requiremenis. We believe diat ihe audit evidence we liave obiained is 5UtTicienl and approprtate to provide a b&8is for our opinion. Conclusions relating to going concerll In auditing the financial stal¢ment5. we have concluded ihatthe directors. use of the going concern basis of accounting in thc preparation of the fanCIaL statemcnts is appropriate. Based on the work we hove performed. we have not identified any m8teriJl uncertainties rclating to events OT conditions that, individually or collectively, may cast signifi¢ant doubt on the Association's ability to continue as A going Concern for a p¢riod of ai least twelve months trom when the financial sthtements are authorised for issue. Our responsibilities and the responsibilities of the Board of Management with respect to going concern are deribed in the relevant sections of this report. Other information The other inf0Mli0n coniprises ihe inforniation in¢luded in the Report ofthe Board of Managemenl oth¢t thaD the financial ststemcnts and our auditors, r¢port thereon. The Both of Manage]ncni is responsible for the other inforniation. Our opinion on the fman¢ial statements does not Cover the other iuformatioD and, exc¢pt to the ¢xtent otheis¢ explicitly stated in our report, we do not cxprcs y forni of aSSLirance conclusion thereon. Our Tesponsibilily is io read the other infonnation and. in so doing. consider wh¢iher the other information is materially inconsisteni with th¢ tinatscial statemcnts. or our knowledge obiained in the audit or otherwise appears to be tnaterially missiated. If we idellrify such material ineonsislencie5 or apparent material misstatrnients. we are required io detennine whether there is a material misstatenieni in the financial staiements or a Enaterial misstaiement of the other information. If, based on the work we have perfonned we conclude thai thcre is a maierial miss(atem¢nt of thi5 Other information. w¢ are required io report that fact. We hav¢ notbing to r¢port in this regard.
Newington Housing Association (1975) Limited 16 Independent Auditors, Report to the members of Newington Housing Association (1975) Limited (cont'd) Matters on which we are reqllired to report by exception In light of our knowledge and understanding of the A&8octation obtained in the course of the audit, we have not identified material misst#tsmcnts in the Report of the Board of Management and the Strdiegic Report. We have nothing to report in respect of the following mattets where the Charities (Northern treland) Act 2008 and Regulation 9 of the Charities (AccouTJts and Reports) Regulation5 (Northern Ireland) 2015 require us ro report to you if, in our opinion.. the information given in the Report of the Board of Management and the Strategic Report is in¢onsislent in any material respect- sufficient accounting records have not been kepL the financial statements are not in agreement with the a¢Unting records; or we have not received all the inforniation and explanations required to complete our audit. We have nothing to trport in thi5 regar(L Under tbe Co-op¢rntive and Community Benefit Soci¢ti¢s Ad (Northern Ireland) 2016 (fornierly the Industrial and Provident Socteties Act (Northern Ireland) 1969) are requTr¢d to r¢port to yi)u if. in our opinion: satisfactory system of control over transactions has not been maintained. or we have not received all the inforniation and explanations we require for our audit. or proper accounting records have not been kept by the Association. or the Assoctation's fmancial statements are not in agreement with the acCoting records. We have nothing to report in this regard. Responsibilities of the Board of Management As explained more fully in the BoaTd of Management's Statement of Responsibilities, the Board of Management IS Tesponsible for the preparation of tELe fmancial Ststeents and for being satisfied that they give a true and fair view. The Board of Management 15 also Tesponsible for such internal control as it detennines is nece&8ary to enable the preparation of financial statements that are free from material misststemenL whether due to fraud or error. In preparing the financial statements, the Board of Management is responsible for assessing the Association's ability to continue as a going concern, disclosin& as applicable, matters rel8ted to going concern and using the going concern basis of accounting. unless the Board of Management either intend to cease operdtions. or have no realistic alternative bul to do so. Auditors, responsibilities for the audit of the financial statements Our objectives are to obtain reasonable 8SSUTance about whetberthe fin2ncial statements as awhole are free from materi&l misstatement, whether due to fraud oreor. and lo issue an auditors. reportthat includes our opinion. Reasonable assurance is a high level of assiirance but is not a guarantee that an audit conducted in occordance with ISAS (UK) will always detect a materÉal misstaternent when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in aggr¢gale, they could reasonably be expected to infiuence the economic decision5 of users taken on the basis of these financial statements. Irregularities, including fraud are instances of non-compliance with laws and regulations. We design pro¢¢dures in line with our responsibilities, outlined above. to detect material misstatements in respect of iThegularities. in¢ludillg fraud. The extent to which our proc¢dures are capable of detecting i¢gUlarItIeS. including fraud is d¢tsiled below.. We considered the opportunities and incentives that may exist within the A&4Jciation for fraud and identified the greatest potential for ftaud in the following areas: management override of controts relating to posting of journals. To address thos¢ risks we discussed thc risks with client management and designed audit procedures to test a sample of journals to confirn they were appropriate.
Newington Housing Association (1975) Limited Independent Auditors, Report to the members of Newington Housing Association (1975) Limited (cont'd) 17 A furthei. des¢ription of our responsibilities for ihe audit of the finan¢ial statements is located on the Financial Reporting Council's website at www.trc.or .uklaudiiorsres onsib&lities. This description forms part of our auditors. report. Use of our report This report is niade solely to tlie Board of Management in accoidance with seetioll 43 of the Co-operdtive and Community Benefir Socieiies Act {Northern Iteldnd) 2016 {formerly the Indusirial and Provident Societies Act (Northem Ireland) 1969) and article 19 01- The Housing {Northern lTeland} Order 1992. Our audit work has been undertaken so that we might state to the Board of Managemeiii those matters wc are required to state ro ihem ID an auditor5. report and for no other purpose. To tlie fullest extent perniitted by law. we do noi a¢cept or assumc ponSIbl1ty io anyone other than ilie Associaiion and the Board of Management. for our audit work. foi. this report. or for the opinions we have fornied. Brlan Clerkin Senior Statutory Auditor for And on behulf of ASM IB) Ltd Chartered Accountants StatuÉory Auditors Glendinning House 6 Murroy Street Belfast BTI 6DN 18 September 2023