Foyle Parents & Friends Association (A company limited by guarantee} Independent auditor's report to the directors of Foyle Parents & Friends Association Opinlon We have audited the financial statements of Foyle Par¢nts & Friends Associatioii for tlie year ended 31 March 2024 whicli ¢ompris¢ the Statement of Financial Activities, the Balance Sheet, the Cashflow Statem¢nt and the related notes. Tlie financial reportiiig framework that has been applied iii tlieir preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including FRS 102 The Financial Reporting Staiidard applicable in the UK and Republic of Ireland This report is Inade solely to tlie charitable company's directors, as a body, in accordance witli Cliapter 3 of Part 16 of tlie Companies Act 2006. Our audit work has been iindertaken so tliat we might state to the cliaritable compaiiy's directors those matters we are required to state to them in an auditorfs report and for no otlier puryose. To tlie fullest exteiit permitted by law, we do not accept or assume responsibility to anyone otlier than tlie cliaritable company aiid tlie cliaritable compaiiy's directors as a bodyg for our audit work, for this report, or for tlie opinioiis we have forined. In our opinion the financial statements: give a true and fair view of the state of the charitable company's affairs as at 31 March 2024, and of it5 incoming resources and expcnditiire of resources, incliiding its iiicome and expenditure, for the year then ended. liave been properly prepared in accordance witli United Kingdom Generally Accepted Accouiitiiig Practice, and liave be¢ii prepared in accordance ivitli the requirements of tlie Companies Act 2006. Basls for oplnlon We conducted our audit in ac¢ordanc¢ with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our respoiisibilities uiider those staiidards are furtlier described in the Auditor's responsibilities for the audit of tlie financial statements section of our report. We are independent of tlie cliaritable company in accordance with the etliical requireinents tliat are relevant to our audit of tl)e finaiicial statemeiits in tlie UK, including the FRC'S Ethical Standard, and we have fulfilled our other etliical responsibilities iii accordance with these requirements, W¢ believe that the audit evidence we liave obtaiiied is sufficient and appropriate to provide a basis for our opinion. Concluslons relating to going concern In auditing the financial statements, w¢ liav¢ concluded tl)at the directors, use of tlie going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relllting to events or conditions that, individually or collectively, may cast signifi¢aiit doubt oil the charitable company's ability to continue as a going coiiceni for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and tlie responsibilities of the directors with respect to going concerii are described in the relevant sections of this report. Page 5
Foyle Parents & Friends Association (A company limited by guarantee) Other inforn)ation The directors are respoiisible for the other infomiatioii. Tlie otlier iiifonnation comprises the infom]ation iiicluded in tlie directors, annlial report, otlier than the financial statements and our auditor's report thereon. The directors are responsible for other inforniation. Our opinion on the financial statemeiits does iiot cover other inforinatioii and, except to the extent otherwise explicitly stated in our report, we do iiot express any forn] of assurance conclusion tliereon. In connection with our audit of tlie financial statements, our responsibility is to read the otlier inforniation and, in doing so, consider whetlier the other information is materially incoiisistent witli the financial statements or our knowledge obtained in tlie audit or otlierwise appears to be materially iiiisstated. If we idcntify such material inconsistencies or appareiit material Iiiisstatements, we are reqiiired to d¢t¢rmiiie wlieilier tliere is a material misstateinent iii the fiiian¢ial stateineiits or a material Inisstateinent of the otlier infonnation. If, based oli tlie work we liave perfomed, we conclude tliat tliere is a material misstatement of this otlier inforination, we are required to report tliat fact. We liave Iiothing to report in tliis regard. Oplnlon on other mattors prescrlbed by the Companles Act 2006 In our opinion based on tlie work iindertakei) in tlie course of the audit: the inforniation given iii the Directors, Annual Report for the financial year for whicli the financial statements are prepared is consistent with the fInancial statements; aiid tlie Directors Aiiiiual Report lias been prepared in accordaiice witli appl icable legal requireineiits. Mllttcrs on whlch we arc rcqulred to report by exceptlon In tlie liglit of our kiiowledge aiid understaiiding of the cliaritable company and its environment obtaiiied in the course of tlie audit, we have not identified material misstatements in tlie Directors Aiinual Report. We liave notliiiig to report in respect of tlie followiiig Inatters wliere the Companies Act 2006 requires us to report to you if, iii oiir opiiiion.. adequate accouiiting records have iiot beeii kept; or the financial statements are not in agreement witli the accouiiting records aiid retiirns. or certain disclosiires of directors, remuneration specified by law are not made; or we have not received all tlie information and explaiiations we require for our audit. or tlie directors were not entitled to prepare the financial statements in accordaiice ivith tlie stnall companies regime and take advantage of the small coinpanies exemption froin the requiremeiit to prepare a strategic report. Page 6
Foyle Parents & Friends Association (A company limited by guarantee) Responsibilities of the directors As explained more fully in the Directors, R¢sponsibilities Statement set out on page 4, tlie directors (wlio are also the directors of tlie cliaritable compaiiy for the purposes of company law) are responsible for tlie preparation of tlie financial statements and for being satisfied that tliey give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. Iii preparing the financial statements, tlie directors are responsible for assessiiig tlie charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and iising tlie going concern basis of accouiiting uiiless tlie directors eitlier intend to liquidate the charitable company or to cease operations, or liave no realistic alternative but to do so. Audltor's responslbllltles for tlie Audit of tho finAnclal statements Our objectives are to obtaiii reasonable assurance about wliether the fiiiancial statements as a wllole are free from material misstatement, wl)ether due to fraud or error, and to issue an auditor's report tliat includes our opinion. Reasonable assurance is a Iiigh level of assiirance, but is not a guarantee tliat an audit conducted in accordance Ivitll ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise froij) fraud or error and are considered Inaterial if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken oil tli¢ basis of these financial stateiiients. Explanation as to what oxtent the audit Ivas considered copablc of detecting irregularltlcs, Including Trregularities, iiicluding fraud, are instances of noii-coinpliance with laws and regulations. We design procedures in line witli our responsibilities, outlined above, to detect material misstateinents in respect of irregularities, including fraud. However, the primary responsibility for the prevention aiid detection of fraud lies witli management and tlie board of directors of tlie charitable compaiiy. Identlfylng and assessing potentinl rlsks relAted to irregularities In identifyiiig and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance witli laws and regulatioiis, we considered the following: tlie nature of the indLlStry, sector and the specific control environment which it operates in; the cliarities own assessment of the risks tljat irregularities may occur, either as a result of fraud or error. representations and resLilts from our enquiries with management and tlie Board of Directors regarding their own identification and assessment of the risks of irreilarIticS. enquiries of management relating to accounting estiinates measurements, recognitioii criteria and justification of sucli amounts. any niatters we have identified liaving obtained and revieived the Charities policies and procedures relating to. * identifying and a55e5sing if laws and regulations are compliant and whether tliey are aware of any instances of non-compliance. * detection and response to tlie risk of fraud and whether tliey are aware of any actulc I, suspected or alleged fraud instances. * the interiial controls designed to mitigate risks or fraud or iion-compliance with laivs and regulations, and to minimise risk of management overrides of sucli controls. Page 7
Foyle Parents & Friends Association (A company limited by guarantee) all matters discussed among the audit engagenient team regarding how and wli¢re fraud could occur and tlie potential indicators of fraud. As a result of tliese procedures, we considered tlie opportunities and incentiV¢5 that may ¢xist Nvithin tlie cliarity for fraud. The audit included assessing the procedures and evaluating tlie measureilleijt of estimations. In Common with all audits under ISAS (UK), we are also reqiiired to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks applicable to the charity and considered that the most significant are the Companies Act 2006, SORP 2019 (FRS 102) and Charities Act (Northern Ireland) 2008. Audlt responses to rlsks Identlflcd Our procedures to respoiid to risks ideiitified incliided tlie following: reviewing tlie financial stateinent disclosures, testiiig tlie relevant docuinentation to assess coinpliance witli the significaiit laws and regulatioiis those described as liaving a direct effect on the financial stateinents; enquiring with management and obtaining tliird party Coiifirihation from tlie Cliarities Solicitors regarding any actual or poteiitial litigation ai)d claiins. performing analytical procedures to identify any unusual or uiiexpected relationsliips that may iiidicate risks of material misstatement diie to fraud; reading miniites of board and management meetings, examine forecasting material in line with actual performance, ideiitifying aiiy potential fraud indicators or instances; reviewing Companies House and Cliarity Cominission Nortliern Ircland correspondence. identify any late submissions or omissions of inaiidatory informatioii. revieiv correspondence witli HMRC, identifying noii compliance of specifi¢ information to be disclosed; in addressiiig tlie risk of fraud tlirougli manageineiit override of controls, testing the appropriateness of data entries and adjustments; &ssessiiig whether tlie j udgeinents iiiade in inakiiig accouiiting estimates are indicative of a potential bias; and evaluating tlie rationale of any significant transactions tliat are unusual or outside the normal course of the charities objectives. We also communicated relevaiit ideiitified laws aiid regulations aiid poteiitial fralid risks to all engageinent team members and remained alert to any indicatioiis of fraud or iioncompliance witli laws and regulations throughout the audit. As part of an audit in accordance witli ISAS (UK), we exercise professional judgment and maintain professional scepticism througliout the audit. We also: Edentify and assess the risks of material misstatement of the financial statements, wliether due to fraud or error, design llnd perform audit procedures responsive to tliose risk5, and obtain audit ¢vid¢n¢¢ that is suffi¢i¢nt and appropriate to pmvide a basis for Olir opinion. The risk of not detecting a material Inisstateinent resulting from fraud is higlier tlian for oiie resulting froiii error, as fraud Inay involve collusion, forgery, intentional omissions, Inisrepresentations, or the override of internal control. Obtain an uiiderstandiiig of iiitemal control relevant to the audit iii order to design audit procedures that are appropriate in tlie circumstaiices, but not for the purpose of expressing ali opinion on the effectiveness of the charitable company's internal control. Page 8
Foyle Parents & Friends Associatio (A company limited by guarantee) Evaluate the appropriateness of accountii)g policies used and tlie reasonableness of accountiiig estimates and related disclosures inade by tlie directors. Conclude on tlie appropriateness of th¢ directors, use of tlie going conc¢rn basis of accounting aiid, based on the audit evidence obtained, wlietlier a Iiiaterial uncertainty exists related to events or conditions tliat may cast significant doubt on the charitable company's ability to continlie as a going conc¢rii. If we conclude tliat a Inaterial uncertaiiity exists, we are reqiiired to draw attention iii our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Olir conclLisions are based on the audit evidence obtained up to tlie date of the auditor's report. However, future events or conditions may cause tlie cliaritable company to cease to coiitinLie as a going concern. -Evaluate tlie overall presentation, structure and content of the financial statements, including tlie disclosures, and wl)etlier tlie fiiiancial statements represent tlie uiiderlyiiig traiisactions and events in a maiiner tliat acliieves fair presentation. We communicate with tliose cliarged with governance regarding, among other matters, the planned scope and timiiig of tlie alidit and significant aiidit fiiidings, includiiig any significant deficiencics in internal coi)trol that we identify duriiig our aLtdit. Patrick McGroarty Senior Statutory Auditor for and on behalf of McGrollrty Mccafferty & Company Statutory Audltor 2 C8rllsl¢ Terrace Derry BT48 6JX Date: 21 August 2024 Page 9