GASYARD DEVELOPMENT TRUST
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF GASYARD DEVELOPMENT TRUST
Opinion
We have audited the financial stateTnents of Gasyard Development Trust (the 'chariV) for the year ended 31 March
2024 which comprise the ststement of financial activities, the balan￿ sheet and notes to the financial statements,
induding significant accounting policies. The financial reporting framewotk that has been applied in their preparation
is applicable law and United Kingdom Accounting Standards. induding Financial Reporttng Standard 102 The
Financial Repo￿ng Standard applicable in the UK and Reptsblic of I￿land (Uniled Kingdom Generally Accepted
Accounting Practice).
In our opinion, the financial statements-.
give a true and fair view of the state of the charitable companls affairs as at 31 March 2024 and of its
incoming resources and application of resources. induding its income and expenditure. for the year then
ended.,
have been propedy prepared in accordan￿ with United Kingdom Generally A￿pted Ac￿unting Practice.,
and
have been prepared in accordan￿ wtth the requirements of the Companies Acl 2006.
Basis for opinion
We conducted our audit in accordan￿ with Intemational Standards on AuditÉng (UK) (ISAS (UK}) and applicable
law. Our responsibiltties under those stsndards are further described in the Auditors ￿SponSIbl1rtles for the audit of
the financial statements section of our report. We are independent of the charity in accordance with the ethical
requirernents that are relevant to our audit of the financial statements in the UK, induding the FRC'S Ethical
Standard, and we have fulfilled our other ethical responsibilities in accordan￿ with these requirements. We believe
that the audit eviden￿ we have obtained 15 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 concem basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have perfoThed, we have not identffied any material uncertainties relating to events or
conditions that. individually or collectively. may cast significant doubt on the charity's abilty to continue as a going
concern for a period of at least ￿e1ve months from when the financial ststements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going con￿rn are described in the
relevant sections of this report.
Other information
The other inforniation comprises the infomiation induded in the annual report other than the financial statements
and our auditorfs report thereon. The trustees are responsible for the other infomiation contained within the annual
report. Our opinion on Ihe financial statements does not cover the other infomation and, except to the extent
otherwise explictuy stated in our report, we do not express any forn of assuran￿ conclusion thereon. Our
responsibilty 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 obtsined in the course of the audit, or otherwise appears
to be materially misstated. If we identsfy such material incon5iStencies or apparent material misstatements, we are
required to detemiine whether this gNes rise to a material misstatement in the finanaal statements themselves. If,
based on the work we have perfomied. we condude that there is a material misstatement of this other information,
we are required to report that fart.
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 financÉal year for which the financial statements are
prepared, which includes the directors, report prepared for the purposes of company law. is consistent with the
financial statements,. and
the directors, report included wtlhin the trustees. report has been prepared in aC￿rdance wtth applicable legal
requirements.
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GASYARD DEVELOPMENT TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF GASYARD DEVELOPMENT TRUST
Matters on which Y￿ are required to report by exception
In the light of the knowledge and understanding ol the chartty and its environment obtained in the course of the
audit, we have not identtfied malerial misstatements in the directors, report induded wtthin the trustees, report.
We have nothing to report in respect of the following matters in relation to whith the Companies Act 2006 requires
us to report to you rf, in our opinion=
adequate accounting records have not been kept, or retums adequate for our audtt have not been re￿iVed
from branches not visited by us" or
the finanaal statements a￿ not in agreement with the accounting record5 and retums; or
rtain disclosures of trustees. remuneration specified by law are not made. or
we have not received all the infonnation and explanations we require for our audit- or
the trustees were not entitled to prepare the financial slatements in accordan￿ with the small companies
regime and take advantage of the small companies, exempb'ons 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, responsibilTlies, 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 tru51ees are responsible for assessing the charity's abilty to
ntinue as a going con￿rn, 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 alternative but to do so.
Auditorfs responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assuran￿ about whether the financial statements as a whole are free from
material misstalement, whether due to fraud or error. and to issue an auditorfs report that indudes our opinion.
Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordan
with ISAS (UKI will always delect a material misstatement when it exists. Misstatements can arise from fraud or
error and are considered material rf, indNidually or in the aggregate, they could reasonably be expected to influen
the economic decisions of user5 taken on the basis of these finanaal 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., lo identfy and assess the risks of material misstatement of the
financial statements due to fraud,. to obtsin Sufficient appropriale audtt eviden￿ 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 instan￿$ ol fraud or 5U5pected fraud identified during the audtt. However. the
primary responsibility for the prevention and detedion of fraud rests with both management and those charged with
governance of the charitable company.
Based on our understanding of the charitsble company and tts operating environment, we determined that the most
significant frameworks which have a direct impact on the preparation of the financial statements are those related to
the reporting framework, (FRS 102, the Chartties Act (Northem Ireland) 2008, The Charities (Accounts and Reports)
Regulations (Northem Ireland) 2015, the Charty SORP and the Companies Act 2006) of which non-compliance
may have a material effect on the finanaal statements. complian￿ with these laws and regulations was assessed
as part of our procedures.
Other laws and regulations of which non-complian￿ 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 managemenl and inspection of any regulatory
or legal correspondence. These limited prO￿dureS did not idenb'fy any actual or suspected non-compliance.
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GASYARD DEVELOPMENT TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF GASYARD DEVELOPMENT TRUST
We assessed the susceptibiltty of the charitable companls financial statements to malerial misstatement, including
how fraud might occur. including evaluating managemenys in￿ntiveS and opportunities to manage eamings or
influence the reported results. From the results of our assessment. we determined that the principal risks ol fraud
relate to posting inappropriale joumal entries and use of chanty funds for purposes outside of restrictions imposed
by the donor. In common wilh all audtts under ISAS (UK). we are required to perform specific procedures to respond
to the risk of management override.
Audit response to risks identified
As part of an audit in accordan￿ wtth ISAS (UK) we exercise professional judgement and maintain professional
scepticism throughout the audit. Audit prO￿dureS perfomied by the engagement team included..
We obtained an understanding of the tharttable company's intemal control systems in order to design audit
procedures that are appropriate in the circumstances. but not for the purposes of expressing an opinion on
the effectiveness of the charitable company's intemal control.
We obtained an understanding 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 govemance.
Enquiry of management. those charged with governan￿ and the entty's solicttors around actual and
potential litigation and claims.
Enquiry of entty staff to identfy any instan￿$ of non-compliance with laws and regulations.
Performing analytical procedure5 to identrfy any unusual or unexpected relationships that may indicate
risks of material misstatement due to fraud.
Reviewing minutes of meetings of those charged with governan￿.
Reviewing financial statement disdosures 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. induding 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 fijnds outside of restrictions imposed by the donor by review of funding
letters of offer to identify restrictions, and review of funding daims prepared by management to check
compliance with restrictions.
We communicated relevant law5 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 Ihe 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 refflected 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 resutting from error, as fraud may invohie deliberate con￿alMent through collusion, forgery,
intentional omissions. rnisrepresentations or the override of intemal control.
A further description of our responsibilttte5 is available on Ihe Financial Reporting Council's website at.. httpsJl
www.frc.org.uklauditorsresponsibilities. This description fonns part of our audtto¢s report.
Use of our report
This report is made solely to Ihe charttable companVs members, as a body. in accordan￿ 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 cornpany's
members those matters we are required to state to Ihem in an audttorfs report and for no other purpose. To Ihe
fullest extent permitted by law. we do not accept or assume responsibilty to anyone other than the charitable
company and the charitable compan￿$ members as a body. for our audit work. for thi5 report, or for the opinions we
have fomied.
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GASYARD DEVELOPMENT TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF GASYARD DEVELOPMENT TRUST
Joh
radley Iseniorstatuto
Auditor}
for and on behalf of Moore (Nl) LLP
17 December 2024
Chartered Accountants
Statutory Auditor
21-23 Clarendon Street
Derry-Londonderry
BT48 7EP
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