GASYARD DEVELOPMENT TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GASYARD DEVELOPMENT TRUST Opinion We have audited the financial statements of Gasyard Development Trust {Ihe 'charity') for the year ended 31 March 2023 which comprise the stalement of financial activities. the balance sheet and notes to the financial statemenls, including significant accounting policies. The financial reporting framework that has been applied in their preparalion is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted 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 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then 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 opinion We conducted our audit in accordance with Intemational Standards on Auditing (UK} {ISAs {UK}l and applicable law. Our responsibilities under those standards are further described in the Auditors 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 ethiGal responsibilities in aGGordance with these 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 In auditing the financial statements, we have concluded that the trustees. use of the going con￿rn basis of accounting in the preparation of the financial statements is appropriate. Based on the 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 at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees wilh respect lo going concern are described in the relevant sections of this report. Other information The other information comprises the infomiation included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other infomiation contained within the annual report. Our opinion on the financial statements does not cover the other information and, eX￿pt to the extent othe￿iSe explicitly stated in our report. we do not express any fomi of assurance conclusion thereon. Our responsibility is to 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 othemise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to detemiine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have perfomied. we conclude that there is a material misstatement of this other information, we are required to report that 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 Ihe purposes of company law, is consislent with the financial statements- and the directors, report included within the trustees. report has been prepared in accordance with applicable legal requirements. GASYARD DEVELOPMENT TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF GASYARD DEVELOPMENT TRUST Matters on which we are required to report by exception In the light of the knowledge and understanding of the charity and its environmenl obtained in the course of the audit. we have not identified material misstatements 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 Act 2006 requires us to report to you if, in our opinion- adequate accounting records have not been kept, or retums 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. remuneration specified by law are not made., or we have not received all the inforniation and explanations we require for our audit., or the trustees were not entitled to prepare the financial slatements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the trustees, report and from the requirement to prepare a strategic report. Responsibilities of trustees As explained more fully in the statement of trustees, resFK)nsibilities, 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 intemal control as the trustees 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 trustees are responsible for assessing the charity's ability to continue as a going concern. disclosing, as applicable. matters related to going concem and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic altemative but to do so. Auditor's responsibilities for the audit of the financial statements Our objeclives are to obtsin reasonable assurance aboul whelher the financial statements as a whole are free from material misstatement, whether due to fraud or error. and to issue an audito¢s report that includes our opinion. Reasonable assuran￿ 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 the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities. including fraud, is detailed below. Extent to which the audit was considered capable of detecting irregularities, including fraud The objectives of our audit in respect of fraud, are,. to identify and assess the risks of material misstalement of the financial statements due to fraud: to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks,. and to respond appropriately to instsnces of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with govemance of the charitable company. Based on our understanding of the charitable company and its operating environment, we determined that the most significant frameworks whiGh have a direct impact on the preparation of the financial statements are those related to the reporting framework, (FRS 102, the Charities Act (Northem Ireland) 2008, The Charities (Accounts and Reporisl Regulations (Northem Ireland) 2015. the Charity SORP and the Companies Act 2006) of which non-compliance may have a material effect on the financial statements. Compliance with these laws and regulations was assessed as part of our procedures. Other laws and regulations of which non-compliance may have a material effect on the financial statements. e.g. through fines or litigation, were identified such as regulations in relation to employment law. Our required procedures in these areas are limited to inquiry of trustees and other management and inspection of any regulatory or legal correspondence. These limited prO￿dureS did not identify any actual or suspected non-compliance. GASYARD DEVELOPMENT TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF GASYARD DEVELOPMENT TRUST We assessed the susceptibility of the charitable companvs financial statements to material misstatement, including how fraud might occur, including evaluating management's incentives and opportunities to manage earnings or influence the reported results. From the results of our assessment, we determined that the principal risks of fraud relate to posting inappropriate joumal entries and use of charity funds for purposes outside of restrictions imposed by the donor. In common wilh all audits under ISAS (UK), we are required to perfomi specific prO￿dureS to respond to the risk of management override. Audit response to risks identified As part of an audit in accordance with ISAS (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. Audit procedures perfomied by the engagement team included.. We obtained an understanding of the charitable company's intemal control systems in order to design audit procedures that are appropriate in the cirCumstan￿s, but not for the purposes of expressing an opinion on the effectiveness of the charitable company's internal control. We obtained an understsnding of how the charitable company complies with relevant laws and regulations, including those as a result of its registration with the Charity Commission for Northern Ireland and charitable status with HM Revenue & Customs , by making enquiries of management and those charged with governan￿. Enquiry of management, those charged with govemance and the entity's solicitors around actual and potential litigation and claims. Enquiry of entity Staff to identify any InStan￿S of non-compliance with laws and regulations. Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud. Reviewing minutes of meetings of those charged with govemance. Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. We test the completeness of income to address the risk of fraud in revenue recognition. Auditing the risk of management override of controls, including through testing joumal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions that are unusual or outside the nomial course of business. Auditing the risk of use of charity funds outside of restrictions imposed by the donor by review of funding letters of offer to identify restrictions, and review of funding claims prepared by management to check compliance with restrictions. We communicated relevant laws and regulations and potential fraud risks to all engagement team members, and remained alerl lo any indications of fraud or non-compliance with laws and regulations throughoul the audit. There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate cOn￿alment through collusion, forgery, intentional omissions, misrepresentations or the override of intemal control. A further description of our responsibilities is available on the Financial Reporting Council's website at: https.'Il www.frc.org.uklauditorsresponsibilities. This description forms part of our auditorfs report. Use of our report This report is made solely to the charitable CoMpan￿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 auditorfs 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 charilable company and the charitable company s members as a body, for our audit work. for this report, or for the opinions we have formed. GASYARD DEVELOPMENT TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF GASYARD DEVELOPMENT TRUST John Bradley {Senior Statutory Auditor) for and on behalf of Moore (Nl) LLP 5 December 2023 Chartered Accountants Statutory Auditor 21-23 Clarendon Street Dery-Londonderry BT48 7EP