THf. VSB F()UN I)A"I'ION INDr.pr.NDINT AUDITOII',S RF.POIIT TO THE MEMBF.RS YEAII 14 NDfD 31 IVIAIICII 2022 Opiniijn ire hav¢ audiied the financial 8lalemenls of I'he VSB l-'oiindation (the 'charily') lor Ihe year ended J l March 2022 which coiiipi'isc the sialemeni ol financial activities (iiicludiiig incoiiie aiid expendiliirc account), sialLmLnl of finanLial posilion. slatenient of cash flows and Ihc rclaled nole5. includins a suiiimary of significai)l accounliiig policies. The financi¢il reporlinu IramewDrk Ihal has bccn applicd in their prLparalion is applicable law and Uniled Kingdom Aecounling SiaDdards, Includin￿ FRS 102 The Fiiiai)cial Reporlii)g Slandai'd applicabl¥ in Ihe UK and RLpublic ot Ireland (Uniled Kingdom Gcnerally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the 51ate of the charity's atlairs as at 31 March 2022 and of its inLoniinu resources and applicaiion of resources, including ils income and expenditure, for the year then end¢d. have been properly prcpared in accordanLe with United Kingdoni Generally Accepted Accounting Practice: have been prepared in accordance with the requiremen15 of the Companies Act 2006. sis for opinion We Loiiducled our audit in Llccoidance wilh Inlemalional Siandards on Auditing (UKI (ISAS (UK)) and applicable law. Oui responsibililie5 under 11i0se standards are fLinher described iii Ilie audiior's responsibililies for the audit of th¢ financial sthtcmenls SLLlion ol our repoti. We are indcpendenl of Ilie charity in acLordancc with Ihe eiliiciil I'equireiiienls Ilial are relevanl to our audil ol- Ihe linancial slalemLnES in the UK. tncludiiig the FIIC 5 Ethical Standard. and the provisions available lor srnall entities. in the circuinstances sei out below, and we have lullilled our oiher ethical rcsponsibililies in accordance with Ihese requirement5. We believe that the audit evidence w¢ have obthined 15 sU￿1Clen[ and appropriate lo provide a basis lor our opinion. In comnion with niany oihcr organisaiions of our size and nalure we use our auditors Io ptepare and SLibmit relurns to the tax auihorilies tuid a55isI with the preparation of the finanLial slate(nents. Conclusion5 relating to going eoncern In audiling the finaiicial slaiemenrs. we have conLluded Ihal the truslee5' use of the noiiig con¢erii basis ol-accounling in the preparation of Ihe tiiian¢ial 5tatcments is appropriale. Based on the work we have pertormed. wc liave noL identified any material uncertainlies relatiiigl lo ¢venls or con(lilions Ihai. indi￿.1dLl¢ltIY or cnl lectively. may casi sigFnilicant doubi on thi ch1< I-IL) s llbilily io continue as a going) Loiicern tor a period ot" at le&st Iwelve months from when (lie finaiicial sliilLmcnis are aiiihorisLd li)r issue. Our responsibilities and the respon5ibilitics ot Ihc iruslccs with respecl to going conccm are THF: VSII POUNDATION INDEI PENDEYT AITDII"OII'S IILIJOIIT TO TIIC MF,MBF.RS YTr:AR ENDED 31 MARCH 2022 describcd in the relevant seclions of Ihi5 report, Other information The oiher infomiaiion comprises ihe infumiation included in the annual report, olher than rhe rinancial slatemenLs aiid oui. auditor's repoit Ihereon. The trustee5 are responsible for Ihe other inforniaiion. Our opinion on Ihc financial slalcmenls does not cover Ilie other intomation and. e.¥CLpI 10 the exienl oiheiivise expliciily Slated in our report, we do not express any foriii of &%suMnee conclusion thereon. In connection with our audit of the financial statements, otir responsibtlity is lo read the other inforinalion and. in doing so, Lonsider wlieihcr the oih¢r inforinarion is materially inconsistent with the f￿ancIal SlalemenL5 or our knowledge obtained in the audil or otherwise appears to be materially misstated. Ir we ideniify such n)aierial incoiisislencies or apparenl malerial misslaiemenls, we a￿ required 10 d¥iermine wlieiheT Ihere is a maierial misslaiement in th¢ financial stateinenls or a Iiialcrial nii5slaiemenl of the other information. If. based on Ihe work we hai'e perfonn¢d. we conclude Ihal th¢r¢ is a mal¢rial miss¢alem¢nl of thi5 Other infom]ation. we are required io report that fact. We have nothing to re￿)rt in this regard. Opinions on othcr niatters pre5cribcd b!. thc Companies Aet 2006 In our opinioIi. basLd vii the %vork uiidLI'iak¥n iii Ili¢ course ol. Ihe audil.. Ihe information triven in Ihe Iruslees, report lor the financial year For which the financial statenients are prcpar¢d is consistent with the financial statements; and the irustees, report I￿S been prepared in accordance with applicable leL'al requiremen1& 14lt¢ry on which we arc required to rLporl by exception In the light of ihc knowledgc and uiidei'3tandiniJ ol" the charily and its environmenl obiained in Ihc cours¢ of ihe audil. ￿'l havL not idciiliticd iiialerial niis.s18leni¢nts in Ihe Iruslees, report. We have notliing lo report in respect of the following matters in relation to which the Conipanies Act 2006 requires us to report io you it. in our opiiiion: adequate accounling records hav¢ not been kept, or returiis adequate for our audit have not been received from branches nol vistted by us: or thc financial slatemenls atc not in agjrcemcnl wilh Ihc accounting records and returns- or ¢eriain di5closurcs of trustees, remuneralion specified by law are not made- or we have nol received all the informaiion kmd ¢xplanaLions we reqlli￿ for our audil. or io- THE VSB fiOUh'DATION INDFPb".P41)r.h r Alll)I'l"OII'S IIEPORT I-O THE MEMBERS YEAR F.NDED 31 MARCFI 2022 IhL iruslees were noi eiililled lo prcparL Ilie financial slalemenls in accordance with the small companies rcgiinie and lake advanta&7e of the small companics, cxeinplions in preparing Ilie direct()r8' report aiid I riii)i Ihc reqiiiremenl 10 prepare a slrale¥ic report. Responsil)ililics of trustee5 As e.xplained tnore fully in the Irustees, r¢sponsibilitTes statement. the trustee5 Iwho are also the directors for the purposes ot" company law) re responsible for the preparalion of thc tinancial 51atements and [￿r being satisfied that they give a Inic and lair view, lind for such internal conlrol as tlie trusiecs dclcrmine is neccssary 10 enable ihe preparation of financial statcnients that are fr¢¢ from material missialemenl. wliether due 10 frnud or error. In preparinu Ihe financial Slalenients, the Iruslees are responsible for assessing Ihe charity's ability to coniinue as a goiiig concem, disclosingp. as applicable. mailers relaled io going concern and using Ihe tsoingi conccrn b¢lSlS ol acc()Iinling unles5 the trL15tee5 either iiitend to liquidate the charity or to ce￿¥ L)peialions. or have no reiilislic aliema(iv¢ bLiI 10 do so. AuditTrr's responsibilitics for the ttudil of Ihc financial statements Our objcclivcs arL lo obtain reasonic ble a55urancc about whether Ihe financial 51alemenls a5 a whole are fl-ee froiii n121eriJl Inissiaiemenl: whL'iher due lo fraud or error, and lo issue an auditor's report that incllides our opinion. R¢a5011able assurance is a higli l¢v¢l of assurance. bu¢ is not a g1142raiilL'e that ali audil coiidLicled in ac¢ord