ALBERT STREET COMMUNrrY CENTRE LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OFALBERT STREEf COMMUNrrY CENTRE LIMITED Opinion We have audited the financial statements of bert Street Communty Centre Limited (the 'charity') for the year ended 31 May 2023 which comprise the statement of financial activities. the balan sheet and the notes to the financial statements. including a summary of significant accounting policies. The ffinancial reporting framework that has been apled in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 The Financial Repong Standard applicabla in the UK and Republic of Ireland (United Kingdom Generally ApIed Acwunting Practi). In our opinion. the financia] ststements: give a true and fair view of the state of the charitable companls affairs as at 31 May 2023 and of its incoming resources and application of resources, including its income and expenditure. for the year then ended" hav8 been properly prepared in accordance with United Kingdom Generally Accepted Accounting Praotice: and havè been prepared in accordance with the requirements of the Companies Act 2006. Basls for opinion Wa conducted our audit in accordance wlth International Standards on Auditing {UK) {ISAs (UK)) and applicable law. Our responsibilities under Ihose standards are further described in the Auditorfs responsibilth'es for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard, and we have fvlfilled our other ethical responsibllities in accordance with these requirements. We lIeVe that the audit evldanca we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relatlng to going concem 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 approprbate. Based on the work we have performed. we have not identified any material uncertainties r61ating to events or nditions that, individually or collectively, may cast signtficant doubt on the chaiiws ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of Ihe trustees with respe(a to going con¢em are described in the relevant sections of this report.
ALBERT STREET COMMUNITY CENTRE LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OFALBERT STREET COMMUNITY CENTRE LIMrrED Other inforniation The Dther information comprises the infornation included in the annual report other than the financial stalements and our auditorfs report thereon. The trustees are responsible for the oiher infomiation contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent olherwise explicilly stated in our retx)rt. we do not express any fo of assurance conclusion thereon. Our responsibility is to read the other infomiation and. in doing so, consider vthether the other inforrnation is materially inconsistent with the financial ststements or our knovAedge obtained in ihe course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a materÈal misstatement in the financial statements themselves. If, based on the work we have perfonned. we ndUde that there is a matsriai misstatement of this other infomiation. we are required to report that fact. We have r)othing to report in this regard. Oplnlons on other matters prescrlbed by the Companies Act 2006 In our opinion. based on the work undertaken in the course of our audit: the infomation given in the trustees, report for the financial year for which the financial statements ar8 prepared. which Includes the directors, report prepared for the purp)ses of company law, is consistènt with the financial statements; and the directors. rsport induded within the trustees. report has been prepared in accordancè wtth applicable legal requirements. Matters on which we are requlred to report by excèptlon In Ihe light of the knowledge and understanding of the charity and ils environment obtained in the course of the audit, we have not identified material misststements in the directors, report included within the trusiees, report. We havè nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us lo report lo you rf. in our opinion- adequate accounting records have not been kept, or retums adequate for our audit have not been recebved from branches not visited by us; or the financial statements are not in agreement with the accountirvJ records and retums; or certain disdosures of trustees. remuneration specnled by law are not made" or we have not received all the informatron and explanations we require for our audit. or the trustees were not entilled to prepare the financial staternents in acrdance with the small companies regime and take advantage of the small companies, exernptions in preparing the trustees. report and from the requirement to prepare a strategic retM)rt.
ALBERT STREET COMMUNITY CENTRE LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OFALBERT STREEf COMMUNITY CENTRE LIMITED Responsibilities of trustees As explained more fully in the statement of trustees. responsibiltties, the trustees. who are also the directors of the charity for the purpose of company law, are responsible for the preparalion of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misststement, whether due to fraud or error. In preparing tho financial statements. the trustees are responsible for assessing the charity's ability to ntinue as a going nm, disclosing, as applicable, matters related to going concem and using the going concem basis of accounting unless the trustees either intend to liquidate the charitsble company or to Cease operations, or have no realistic altemative lyjt to do so. Audltor's responslbililies for the audft of the financlal statements Our objectives are to obtsin reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due to fraud or error, and to ISSU8 an auditorfs report that indudes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audrt conducted in awordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material rf. individualty or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial slatements. The exlent to which our procedures are capabl8 of detecting irregularities. including fraud, is d8tailed below.
ALBERT STREET COMMUNITY CENTRE LIMITED INDEPENDENT AUDrroR'S REPORT (CONTINUED) TO THE MEMBERS OF ALBERT STREET COMMUNITY CENTRE LIMITED Extent to which tho audit was considered capable of detecting irregularities, including fraud We identify and assess the risks of material misstatement of the financial statements. whether due to fraud or error, and then design and perfomi audit procedures responsive to those Tisks. including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. In identifying and assessing potential risks of material misstatement in resp8Ct of irregulartties, including fraud and nOnCOmplianceS with laws and regulations. we considered the following: The nature of the industy and sector. control environment and business performance. induding the company's remuneration policies for director5, bonus levels arKI perfomance tsrgets. rf any; Resums of our enquiries of management aljout their own identification and assessment of the risks of irregularities,. Any matters we identtfied having obtainad and revi8wed the CoMpanS doujmentation of th8ir policies and procedures relating to.. Identifying. evaluating and comptying laws and regulations and whether they were aware of any instance of n0Mpliance. Detecting and responding to the risks of fraud and whether they have knovledge of any actual, suspected or alleged fraud. and The intemal controls established to mitigate risks of fraud or non-compliance with laws and regulations., The matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and potential indicators of fraud. As a result of these procedures, we considered the opportunilies and incentives that may exist within the company for fraud and identified the greatest potential for fraud in revenue recognition. In common with all audits under ISAS (UK), we are also required to perfom specific procedures to respond to the risk of management override. We also obtsined an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of matertal amounts and disclosures in the finanual statements. The key lavts arKI regulations we considered in this context induded the Companies Act 2006. and local tax legislation. In addition, V considered provisions of other laws and regulations that do not have a direct effect on the financial statements but Complian wtth which may be furKlamental to the company's ability to operate or to avoid a material penaty.
ALBERT STREET COMMUNITY CENTRE LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF ALBERT STREET COMMUNITY CENTRE LIMITED Audit response to risks Identified Our procedures to respond to the risks identified included the following: Reviewing th8 financial ststement disclosures and testing to supporting documentation to assess compliance wth provisions of relevant laws and regulations described as having a dired effect on th8 financial statements: Enquiring of management conceming actual and poi8ntial litigation and daims. Perfoming analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud" Reading minutes of meetings of those tharged wtlh govemance and reviewing correspondence wth tsx authorities" 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 accounling estimates are indlcative of a potential bias- and evaluating the business rationale of any significant transactions that are unusual or outside the nomal course of business. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement t8am members and remained alert to any indications of fraud or non-complianr2 with laws and regulations througlK)Ut the audiL Owing to the inherent limitstions of an audit. there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have propedy planned and perforned our audit in accordance with auditing standards. In addition. as with any audit, there remains a higher risk of non4etection of irregularities. as they may involve collusion. forgery, intentional omissions. misrepresentations, or the oveIde of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non- mpliance wilh all laws and regulations.
ALBERT STREET COMMUNITY CENTRE LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OFALBERT STREET COMMUNITY CENTRE LIMITED Use of our report This report is made solely to the charitable CoMpanS members. as a bc*Jy. in ac(x)rdance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit Vrk has been undertaken so that we might state to the charitable company's members those matters we are required to state lo them in an auditorfs report and for no other purpose. To the fvllest extent permitted by law. we do not accept or assume responsibiljty to anyone other than the charitable ompany and the charitable company's members as a body. for our audit work. for this report. or for the opinions we have formed. Mr Nlgal Moore FCA (Senior Statutory Auditor) for and on behalf of GMCG BELFAST Chartered Accountsnts statutory Audltor Chartered Accountants & Statutory Audttor fred House 19 Afred Street Belfast BT2 8EQ 10-