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 D￿pa￿d 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 aUdi￿ng 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 In￿nsIstent 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￿ reou*re¢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 ag￿ement witt) the accountino records and return5- or
certain disclosures of tnFstees' ￿Munera￿On 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 respons*ble
ror the prepardtiorh of the account5 and for being Saitsf￿d 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 cOn￿M 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 fra￿d 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