Newtownstewart Leisure Complex Limited (Company limited by guarantee) Independent auditors, report to the committee of NeTrvtownstewart Leisure Complex for the year ended 31 December 2023 Opinion We have audited the financial stateinents of Newtownstewart Leisure Complex Limited for the year ended 31 Deceinber 202) which comprise the slalement of financial activities, the balance sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdoin Accountints Standards (United Kinodoin Generally Accepted Accounting Practice) including 'Accounting and Reporting by Charities. Statement of Recommended Practice, {Financial Reportin Standard 102 'The Financial Repoitin. Standard applicable in the UK and Republic of Ireland,). In oiir opinion the financial statements.. give a true and fair view of the state of the charitable company's affairs as at 31 December ?023 and of the incoming resources and application of resources, includiniy its incoine aiid expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice includino 'Accounting and Reporting by Charities,. Statement of Recoinmended Practice, (Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK & Republic of Ireland,). have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)} and applicable law. Our responsibilities under those standards are further described in the Auditor'5 responsibilities for the audit of the financial statements section of oiir report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, includinfj the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient appropriate to provide a basis for our opinion. Conelusions relating to going concern In auditino the financial statenients, we have concluded that the coinpaiiy's iise of the goino concern basis of accountino in the preparation of the financial stateinents is appropriate. Based on the work we have perfor]ned, we have not identified any Inaterial uncertainties relatints to events or conditions that, individually or collectively, Inay cast sigiificaiit doubt on the company's ability lo continiie as a going concem for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors of NeHtow)stewart Leisure Complex Liinited with respect to going concern are described in the relevant sections of this report. Other information The other infonnation coinprises the infoiination included in the annual report, other thali the financial statements aiid oiir auditor's report thereon. The triistees are responsible for the other infonnation. Our opinion on the financial statements does not cover the other infomiation and, except to the extent otherwise explicitly stated in our report, we do not express any fomi of assurance conclusion thereon. In connection with our audit of the financial stateinents, our responsibility is to read the other information and, in doing so, consider whether the other information is illaterially incotksistent with the fiT)ancial stateinents oi. our knowledtse 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 deterinine whether there is a inaterial mi55tateinent in the fiiiancial stateinents or a material misstateinent of the other information. If, based on the work we have performed, we conclude that there is a material Inisstatement of this other inforination, we are required to report that fact. We have nothin17 to report in this reqard. Page 4
Newtownstewart Leisure Complex Limited (Company limited by guarantee) Independent auditors, report to the committee of Newtoivnstewart Leisure Complex Limited for the year ended 31 December 2023 Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit= the information given in the trustees, report for the financial year for which the financial statements are prepared is consistent with the financial statements; and the trustee's report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees, report. We have nothing to report in respect of the following matter5 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 returns 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 retums. 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 statements in accordance wtth the small companies regime and take advantage of the small companies, exemption from the requirement to prepare a strategic report. Responsibilities of the trustees As explained more fully in the statement of trustees responsibilitie5, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal 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. Ln preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matt¢rs related to going concern 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. Auditor's responsibilities for the audit of the financial statements Our objectives ar¢ to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is 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 th¢ aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulatons. 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: Page S
Newtownstewart Leisure Complex Limited (Company limited by guarantee) Independent auditors, report to the committee of Newtoivnstewart Leisure Complex Limited for the year ended 31 December 2023 Auditor's responsibilities for the audÉt of the financial statements (continued) In identifying and assessing risks of material misstatement in respect of iegUlar1tie$, including fraud and non-compliance with laws and regulations, we considered the following.. the nature of the industry and sector, control environment and business perfonnance; results of our enquiries of management about their own identification and assessTnent of the risks of irregularities. any matters we identified having obtained from management whether they were aware of any instances of non- compliance and whether they have knowledge of any actual, suspected or alleged fraud- and the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.. As a result of these procedures, we identified the greatest potential for fraud in the areas in which management is required to exercise significant judgement. In common with all audits under ISAS (UK), we are also required to perfomi specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and retsulatory fraTnework that the Society operates in, focusing on provisions of those laws and regulations that had a direct effect on the deterniination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the Industrial & Provident Societies Act (Northern Ireland) 1969 and tax legislation. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Society's ability to operate or to avoid a material penalty. These included data protection, employment, environmental and health and safety regulations. As a result of perfonning ihe above, we identified the potential for management override of the controls as a key audit matter related to the potential risk of fraud. Our procedures to respond to the risks identified included the following.. reviewing the financial statement disclosures and testing to supporting documentation to assess ¢omplian¢e with provisions of relevant laws and regulations described as having a direct effect on the fiTtancial statements. enquiring of management Concerning actual and potential litigation and claims. perforniing analytical procedure5 to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud. reading minutes of meetings of those charged with oovernance atld reviewing cotTespondence with HMRC and regulator; and in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments- assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the nonnal course of business. We also communicated relevant identified laws 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 the audit. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk. This description forn]s part of our auditor's report. We have undertaken the audit in accordance with the requirements of Auditing Practices Board's (APB'S) Ethical Standards for Auditors- including APB Ethical Standards - Provisions Available for Small Entities as stated below: In Common with many other businesses of the company size and nature we a5 auditors assist the company with the preparation of the financial statements. and We provide tax advice to the company and where necessary, will represent the company at tax tribunals. Page 6
Newtownstewart Leisure Complex Limited (Company limlted by guarantee) Independent auditors, report to the committee of Newtownstewart Leisure Complex Limited for the year ended 31 December 2023 Purpose of our audit Ivork and to whom we owe our responsibilities This report is made solely to the charitable company's member5, as a body, in accordance with the Coinpanies Act 2006. Our audit work lias been undertakei) so that we niioht state to the charitable company's members those matters we are required to state to Ihein in an auditor's report and for no other purpose. To the fullest extent pennitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's inembers as a body, for our 8udil work, for this report, or for the opinions we have fomied. Mrs Wendy Arnold (senior statutory auditor) For and on behalf of McFarland Arnold & Co Chartered Accountants & Statutory Auditors Dated: McFarland Arnold & Co Chartered Accountants 8 Main Street Newtownstewart Co Tyrone BT78 4AA Page 7