Report of the Independent Auditors to the members of east Belfast Enterprise Ltd (a company lirnited by guarantee} Oplnlon We have audited the financtal ststements of East eelfast Enterprise Ltd lor the year ended 31 Detember 2022 which comprises the Statement of Financial Acttvities, the Balance Sheet, the cash flow statement and the notes to the accounts, including a sumrnary of sionificant accounting policles. The financial reporting framework that has been applied in their preparation is appllcable law and United Kinodorn Accountino srandards, including Financial Reportlng Standard IOZ. The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the accounts- glve a true and fair view of the state of the charitable company's affarrs as at year ended 31 Decernber 2022 and of Its incomlno resources and application of resources, Includlng Its incorne and expenditure, for the year then ended., have been properly prepared in accorijance wlth UniteLI Klngd¢m Generallv Accepted Accountlng Pract¢. and have been Dpad in accordance wlth the requirements of the Companies Act 2006. Basls for oplnlo We conductetl our audit ill accordan with Internattonal Standards on Auditing IUKI {ISAs IUKI) applicable law. Our responsibllities under those standards are further desGibed in the Au¢Jitor's responslbilitie5 for the audit of the accounts section of OLir report. We are independent OF the £harity ifi accordance with the eihical raqulrements that are relevant to our audit of the accounts in the UK, including the FRC'5 Ethical standard, and we have fulfille¢J our other ethltal responsibilities in accordance with these requirements. We believe that the aufllt evidence vle have obtained Is sufficient and appropriate to provlde a basFS for our opinion. Ctsntlusion$ relating tll going ¢on¢¢rn In aUding the flnanclal statements, we have concluded that the trustees, use of the going concern basi5 of aceounting the preparation of tho flnancial statements is approplate. 8ased on the work we have performed, we have not identlfied any material uncertainties relating to events or conditions that, individually or collectlvely. may cast signtficant doubt on the charity's ability to continue as a gosllg cDncern for a perlod of at least twelve Tnonths from when the fillallcsal statements are authorised for issue. Our responsibilitie5 ono the responsibilities of the trustees Ylith respert to going concern are described in the levant sectitsAs of this report. Othér Informatlon The other Inforfflatlon comprises the information induded in the annual report, other than the accounts our auditor'5 report thereon. The TTUStee5 are responsible for the other informatiort. Our opinion on Lhe aetounts does not cover the alher infomiat5on and. except to the extent otherwise expliciuy stated our report, we do not express any form tsf assurance conclusion thereon. 16
Report of the Independent Auditors to the members of East Belfast Enterprise Ltd (a company limited by guarantee) In connecilon with our audit of the accounts, our responsibility is to read the other Information and, in doing so, consider whether the other information is materfally InnsIstent with the accounts or our knowledge obtained in the audlt or otherwise appears to be matenally mr5Stated. If we identify such mèterlal Inconstsienctes or apparent material mlsstatements, we are required o determine whether Ihere is a tnatprtal mi5Staternent IFI the accounts or a material rnlsstatement of the other ir>formation. If. based the work we have performeLI. we conclude that there ss a material misstatement of this other information. we a reoure¢J to POrt that fatt. We have nothing to r¢port Èn this regard. Oplnlotjs on other matter$ pres¢rlbed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of our audit.. the Informatlon given In the TrJstees Report for the finandal year for whlch the accaunts are prepared 15 consistent with tho actounts,. and the Trustees Report htss been prepared in accordance with applicable legal requirements. Matters on whleh we are required to rewrt bv exceptlon In the liuht of the knowledge and understsnding of the Trustee5 and its environment obtained in the course of the audlt, we have not i(Jentified rnaterial misstatements Trn the TrLTStees Report. We have nothlrtg to report in respert of the following matiers In relation to which the Companies Art 2006 requires us to report to you if. in our oplnlon.. adequate accountlng rectsrds have not been kept, or returns adeouate for our audit have not been received from branche5 not visited by u5- or the account5 ara not in agement witt) the accountino records and return5- or certain disclosures of tnFstees' MuneraOn speufie¢J by law are nct made.. or we have not re)Ved all the IAfomiation and explariations we require for our audit. Respon5ibilitEes of Trustee$ A5 explained more fvlly In the Statement of Trustees Responsibilities, the Trustees are responsble ror the prepardtiorh of the account5 and for being Saitsfd that they give a true and fair view, and for such internal control as the directors determlne is necessary to enable the preparatlon of accoLtnts that are free from material mi55tatement, whether due to fraud or error. In prepaThng the accounts. the Trustees are responslble for assessing the charity s ability to continue as a going concern, disdoslng. as applicable, matters related to going cOnM and using the golng concem basis of accounting unless the Trustees either intend to liquidate the tDmpany or to ase operations, or have no realistic alternative but to do so. Audltor's respon$lblllUe$ for the audit of the financlal ststements Our objectives are to cbtain reasonable assurance about whether the accounts as a whole are free from material misstatement. whether due to frad or error. and to issjxe an auditor's report that includes our opinlon. Reasonable assurance is a high level of assurance, but 15 not a guarantee that an audit conduLted Sn accordantr with ISAS IUKI will always detect a material misstatement when It exist5. MisstatemenLs can arise frorn fraud or error and are consldered material if, indivFdually or in the aggregate. they could reasonably be experted to Intluertce the economlc dedsions of u5ér5 tsken on the ba$ of these accounts. 17
Report of the Independent Audltors (continued) to the members af East Belfast Enterprlse Ltd (a company limited by guarantee) rrregularities, Including fraud. are instantes of non-compliance wlth laws and regulations. We design procedures in line with our responsibllitles, outlined above, to detect material misstatements in respect gf irregularities, induding fraud. The exient to whlch our procedures are capable of detecting irregularities. induding fraud. Is detalled below. We obtalned an under5tandlng of the legal and regulatory framework applicable to the company thmugh enquiry of management, Industry research and the application of cumulative audlt knowledge. We identified the following princlpal laws and regLtlations relevant to the company Companies Act 2006 and the Financial Reportlng Standard applicable in the UK and Republic of Ireland (FRS 102). We developed an understanding of the key fraud rf5ks to the entity (induding how fraud might occur). the controls in pla to help mltigate those risks. and the accounts, balances and disclosures withln the flnanclal statements whlch may be susceptible to management bias. Our understanding was obtained through revlew of the financial statements for significant acmuntlng estimates, analysis of journal entries, walkthrough of the key controls cydes In place and enquiry of management. Our procedure5 to respond to those risks Identlfied included, but were not limited to: Enquiry of management, those charged wlth governance and the entity's sollcrtors around actual and potential litigation and daims. Enquiry of management to identlfy any Instances of non-compliance wrth law5 and regulations. Reviewing mlnutes of meetings of those charged with govemance. Reviewlno financial statement disdosures and testing to supporting documentatton to assess compliance with applicable laws and rogulation5. Auditing the risk of management overrlde of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business. A further description of our responslbilltles for the audit of the accounts is located on the Financial Reporting Council's web5tte at: http'.//www.frc.org,uklauditorsresponsibilities. Thls description form5 part of our audltovs report. This report Is made 501ely to the tharitable company's members. ès a body. In acconlance wlth Chapter 3 of Part 16 of the Companles Act 2006 and regulation5 made under that Act. Our audit work has been undertaken so that we might state to the charltable company's members those matter5 we are required to state to them in an auditors, report and for no other purpose. To the fullest exient permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and Its members as a bodyi for our audit work. for thls report, or for the oplnlons we have fomied. JL JL Grant (Senlor Ststutory Auditor) for and on behalf of FPM ACCOUNTANTS LTD Chartered Accountants & Statutory Auditor Unit I, Bullding 10 Central Park Mallusk Co Antrim BT36 4FS Date 18