Newington Housing Association (1975) Limited 15 Independent Auditors, Report to the members of Newington Housing Association (1975) Limited Opinion We have audited the financial statements of Newington Housino Assoctation (1975) Limit¢d ("th¢ Association") for the year ended 31 March 2024 which comprises the statement of comprehensive income, the statement of changes in reserves, the statement of fmancial position and the related notes to the fmancial statements, including a summary of significant accounting policies. The fmancial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Stsndards, including Financial Reporting Standard 102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice) and the Housints SORP: Statement of Recommended Practi¢¢ for Social Housing Providers. In our opinion the financial statem¢nts'. give a true and fair view of the state of the Association's affairs as at 31 March 2024 and of its sury)lus for th¢ year then ended. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been properly prepared in accordance wilh the requirements of the Co-operative and Community Benefit Societies Act (Northern Ir¢land) 1969 (fornierly th¢ tndustrial and Provident Societies Act (Northem Ireland) 1969), with the requirements of Article 19 of the Housing (Northern Ireland) Order 1992, R¢gist¢r¢d Housing Associations (Ac¢ounting Requirements} Order (Northern treland) 1993, the Charities Act (North¢rn Ir¢land) 2008 and R¢gulation 9 of ihe Charities (Accounts and Reports) Regulations (Northern treland) 2015. Basis of opinion We conducted our audil in accordance with International Standards on Auditing (UK) (ISAS UK) and applicable law. Our responsibilities under those standards are further described in the auditors, responsibilities for th¢ audit of the fmancial stat¢m¢nts section of our report. We are independent of the Association in accordance with the ethical requirements that are relevant to our audit of the fmancial statements in the UK, including the FRC'S Ethi¢al Standard, and we have fulfilled our other ethical responsibilities in accordance with those requirements. We believe that the audit evidence we have oblained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the fmancial statements, we have concluded that the directors, use of the going concern basis of accounting in thepr¢paration of the fmancial statements is appropriat¢. Based on the work we have perfornied, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Association's ability to continue as a going concem for a period of at least twelve months from when the fanCIal statements ate authorised for issue. Our responsibilities and the responsibilities of the Board of Management with respect to going concern are describ¢d in the relevant sections of this r¢port. Other inforniation The other inforniation comprises the inforniation included in the Report of the Board of Management other than th¢ fmancial statements and our auditors, report ther¢on. The Board of M8nagement is responsible for the other inforniation. Our opinion on the fmancial slatements does not cover the other inforn)ation and. except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion th¢reon. Our responsibility is to read the other infornlation and, in so doing, consider whether the other infonnation is mat¢rially inconsistent with the fmancial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to deterniine whether there is a material misstatement in the f]nancial statements or a material misstatement of the other inforniation. If, based on the work we have perf0rnie we Conclude that there is a material misstatement of this other infonnation, we are required to report that fact. We have nothing to report 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 required to report by exception In light of our knowledge and understanding of the Association obtained in the course of the audit, we have not identified material misstatements in the Report of the Board of Management and the Strategic Report. We have nothing to report in respect of the following matters where the Charities (Northern Ireland) Act 2008 and Regulation 9 of the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 require us to report to you if, in our opinion: the inforniation given in the Report of the Board of Management and the Strategic Report is inconsistent in any material respect. sufficient accounting records have not been kept. the financial statements arc not in agreement with the accounting ords. or we have not received all the inforniation and explanations required to Complete our audit. We have nothing to report in this regard. Under the Co-operativ¢ and Community Benefit Societies Act (Northern Ireland) 2016 (forn]erly the Industrial and Provident Societies Act (Northern Ireland) 1969) are required to report to you if, in our opinion.. a satisfactory system of control over transaclions has not been maintained. or we have not received all the infonnation and explanations we require for our audit; 01 prop¢r accounting records hav¢ not been kept by the Association. or the Association's fLnancial statements are rjot in agreement with the accounting record5. We have nothing to report in this regaTd. Responsibilities of the Board of Management As explained more fully in the Board of Management's Statement of Responsibilities, the BoaTd of Management is responsible for the preparation of the fmancial statements and for being satisfied that they give a true and fair view. The Board of Management is also responsible for such internal control as it deterniines is necessary to enable the preparation of fmancial statements that are free from material misstatemenL 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, disclosing, as applicable. matters related to going concern and using the going concern basis of accounting, unless the Board of Management either intend to cease operations, or have no realistic alternative but to do so. Auditors, responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about wheiher the financial statements as a whole are free from material misstatement, wh¢ther due to fraud OT error, and to issue an auditors. 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 Teasonably be expected to influence the economic decisions of users taken on the basis of these fmancial statements. Irr¢gularities, including fraud, are instances of non-complÈan¢e 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: We considered the opportunities and incentives that may exist within the Association for fraud and identified the greatest potential for fraud in the following areas: management override of controls relating to posting of journals. To address those risks we discuss th¢ risks with client management and designed audit procedures to test a sample of journals to confjrni they were appropriate.
Newington Housing Association (1975) Limited 17 Independent Auditors, Report to the members of Newington Housing Association (1975) Limited (cont'd) A further description of our responsibilities for the audit of the fmancial statements is located on the Financial Reporting Council's websifr at ii'ww.frc.or .uklaudiiorsre4 )on£ibilities. This description fornis part of our auditors, report. Use of our report This report is made solely to the Board of Management in accordance with section 43 of the Co-operative and Community Benefit Societies Act (Northern Ireland) 2016 (forn]erly the Industrial and Provident Societies Act (Northem Ireland) 1969) and article 19 of The Housing (Northern Ireland) Order 1992. Our audit work has been undertaken so that we might state to the Board of Management those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest exfrnt perniitted by law, we do not accept or assume responsibility to anyone other than th¢ Association and th¢ Board of Management, for our audit work, for this report, or for the opinions we have fonned. Brian Clerkin FCA Scnior Statutory Auditor for and on behalf of Sumer Auditco Nl Limited Registered Auditors Glendinning House 6 Murray Street Belfa$t BTI 6DN 17 Sept¢mber 2024