Church of Ireland Orphans and Childrens Society for the Counties of Antrim and Down Company Limited by Guarantee Independent Auditor's Report to the Members of Church of Ireland Orphans and Childrens Society for the Counties of Antrim and Down Year ended 30 June 2024 Opinion We have audited the financial statements of Church of Ireland Orphans and Childrens Society for the Counties of Antrim and Down (the 'charity') for the year ended 30 June 2024 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, ststement of cash flows and the related notes. including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including FRS 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 charity's affairs as at 30 June 2024 and of its incoming resources and application of resources. including its income and expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordan with Intemational Standards on Auditing (UK) IISAS {UK)} and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements thal are relevant to our audit of the financial statements in the UK. including 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 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 wè have performed, we have not identified any material uncertainties relating to events or conditions that, individually or colleclively, may cast significant doubl on the charity's ability lo continue as a going concern for a period of at least iwelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report.
Church of Ireland Orphans and Childrens Society for the Counties of Antrim and Down Company Limited by Guarantee Independent Auditor's Report to the Members of Church of Ireland Orphans and Childrens Society for the Counties of Antrim and Down {continu8d) Year ended 30 June 2024 Other infomiation 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 information. Our opinion on the financial statements does not cover the other information 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 statements. our responsibility is to read the other information and, in doing so, consider whelher the other information is malerially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears lo be materially misstated. If we identify such material inconsistencies or apparent material misststements, we are required to detemiine whether there is a material misstatement in the financial statements or a material misstatement of the other infomialion. If, based on the work we have performed, 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 worf( undertaken in the course of the audit: the infomiation given in the trustees. report for the financial year for which the financial statements are prepared is consistent with the financial statements. and the trustees, 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 charity and its environment obtained in the course of the audit, we have nol identified material misstatements in the truslees, 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 returns adequate for our audit have not been received from branches not visited by us. or the financial statements are not in agreement viith the accounting records and retums; or certain disclosures of trustees. remuneration specified by law are nol made- or we have not received all the infomiation and explanations we require for our audit. 10
Church of Ireland Orphans and Childrens Society for the Counties of Antrim and Down Company Limited by Guarantee Independent Auditor's Report to the Members of Church of Ireland Orphans and Childrens Society for the Counties of Antrim and Down {continu8d) Year ended 30 June 2024 Responsibilities of trustees As explained more fully in the trustees. responsibilities statement, the trustees (who are also the directors for the purposes of company lawl 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 Gonlrol 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 Ihe financial statements, the trustees are responsible for assessing the charily'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 twstees either intend to liquidate the charity or to cease operations, or have no realistic altemative but to do so. 11
Church of Ireland Orphans and Childrens Society for the Counties of Antrim and Down Company Limited by Guarantee Independent Auditor's Report to the Members of Church of Ireland Orphans and Childrens Society for the Counties of Antrim and Down {continu8d) Year ended 30 June 2024 Auditor's responsibilities for the audit of the financial statements Our objectives are 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 a high level of assurance, but is not a guarantee that an audil conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstalements 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. Irregularities, including fraud, are instances of non-compliance 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.. In identifying and assessing risks of material misstatement in respect of irregularities. including fraud and non-compliance with laws and regulations, we considered the following.. the nature of the industry and sector, control environmenl and business performance including the design of the remuneration policies. key drivers for directors, remuneration, bonus levels and performance targets. results of our enquiries of management about their own identification and assessment of the risks of irregularities- any matters we identified having obtained and reviewed documentation of their policies and procedures relating to: identifying, evaluating and complying with laws and regulations and whether management were aware of any instances of non-compliance; detecting and responding to the risks of fraud and whether management have knowledge of any actual, suspected or alleged fraud- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations. the matters discussed among the audit engagement team including significant component audit teams and relevant internal specialists, including tax and valuations specialists regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. As a result of these procedures. we considered the opportunities and incentives that may exist within Ihe organisation for fraud and identified the greatest potential for fraud. In common with all audits under ISAS {UKI. we are also required to perfomi specific procedures to respond to the risk of management override. We also obtsined an understanding of the legal and regulatory frameworks in operation. focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounls and disclosures in the financial statements. The key laws and regulations we considered in this context included ongoing compliance with the UK Companies Act and tsx legislation. In addition, we considered provisions of other laws and regulations thal do not have a direct effect on the financial statements but Complian with which may be fundamental for their ability lo operate or to avoid a material penalty- 12
Church of Ireland Orphans and Childrens Society for the Counties of Antrim and Down Company Limited by Guarantee Independent Auditor's Report to the Members of Church of Ireland Orphans and Childrens Society for the Counties of Antrim and Down {continu8d) Year ended 30 June 2024 As part of an audit in accordan with ISAS (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error. design and perform audit procedures responsive to those risks. and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of intemal control. Obtain an understsnding of internal control relevant to the audit in order to design audit ProdureS that are appropriate in the circumStans. but not for the purpose of expressing an opinion on the effectiveness of the intemal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concem basis of accounting and, based on the audit evidence obtained, whether a material nrtaInty exists related to events or conditions that may cast significant doubt on the charity's ability to conlinue as a going concem. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit eviden obtained up to the date of our auditor's report. However, tuture events or conditions may cause the charity to cease to continue as a going concem. Evaluate the overall presentation. structure and content of the financial statements. including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. 13
Church of Ireland Orphans and Childrens Society for the Counties of Antrim and Down Company Limited by Guarantee Independent Auditor's Report to the Members of Church of Ireland Orphans and Childrens Society for the Counties of Antrim and Down {continu8d) Year ended 30 June 2024 We communicate with those charged with govemance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report This report is made solely to the charity'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 stale to the harity's members those matters we are required to stale to them in an auditorfs report and for no other purpose. To the fullest extent pemiitted by law. we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have fomied. Conor Dolan FCA {Senior Statutory Auditor) For and on behalf of Finegan Gibson Ltd Chartered accountants & stalutory auditor Causeway Tower 9 James Street South Belfast BT2 8DN 21 March 2025 14