WILLOWFIELD PARISH COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WILLOWFIELD PARISH COMMUNITY ASSOCIATION YEAR ENDED 31 DECEMBER 2022 Page 9 Opinion We have audited the fiiyancial statements of Willowfield Parish Community Association for the year ended 31 December 2022 which comprise the Statement of Financial Activities (including the income and expendithre account). the BaIanc¢ SheeL the Statement of Cash Floivs and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been appli¢d in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The FinancTal Reporling Slthidard applicable In tke UK aiidRepublic oflreland (United I(inodom Generally Accepted AccouTkting Practice). In our opinion the financial statements: give a true and fail. view of the state of tlie cliaritable coinpany's affairs as at 31° December 2022, and of its incomÈng resources and application of resources. including its income and exp¢nditure. for die year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been prepared in accordance with the requirements of the Companies Act 2006. Bas2s for opinion We conducted our audit in accordance with International Standards on Auditlng (UK)(ISAslUK)) and applicable law. Our responsibilities under those standards are further described in tlie Auditor's responsibilities for the audit of the financial ststements section of our report. We are independent of the charitable company in accordance with tl)e ethical requirements that are relevant to our audit of the financial statsments in the UK, including tlie FRC'S Ethical Standard. and we have lfilled our otlier ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained ts suffjcient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the fmanoial statements, we have concluded tliat the trustees, use of the going concern basis of accounting in the preparation of the financial statsments is appropriate. Based on the work we have performed. we have not RdentifIed any matsrial uncertainties relating to events or conditions thaL individually or colle¢tive&y, may cast signifLcaiit doubt on th¢ charitable company's 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 th¢ trustees with respect to going concern are described ill tlie reEevant sections of thi5 report. Other information The trustees are responsible for the other inforniation. T]ie other inforniation comprises any information other than the financial statement5 and our auditor's repoit thereon. Our opiJ]ion on the financial statements does not cover the other infonnation and, except to the extent otherwis¢ explicitly stated in our report, we do not express any forni of assuiance conclusion th¢reon.
Page 40 WILLOWFIELD PARISH COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WILLOWFIELD PARISH COMMUNITY ASSOCIATION {continuedJ YEAR ENDED 31 DECEMBER 2022 Other information fconllnued) In Connection with our audit of the financial statements, our responsibility IS to read the other infonnatioTh and, in doing so. consider whether the other infornlation is materially inconsistent with the financial statements or our knowEedge obtained in the audit or otherwise appear5 to be materially misstated. If we identify such nterial inconsistencies or apparent matsrial misstatements, we are required to detemiine whether there is mat¢riaE misstatement in the fmancial statements or a material misstatement of the other inforniation. If, based on the work we have p¢rfornied. we conolude that there is a material misstatement of this other inforniation; we ar¢ required to report that facL We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinÉon. based on the work undertaken in the course of the audit: the inforniation given in the trustees. report (incorporating the directors, report) for the financial year for which the fmancial statements are prepe0 is consistsnt with the fmancial ststements. and the dÈrectors' report has beeTh prepared in accordance with applicable legal requirements. Matters on which we are required to report by exeeption Tn the light of our knowledge and understanding of the charitable company and its environment obtaÉned in the course of the audit, we have not identified material misstatements in the dir¢¢tors' report. We have nothing to report In respect of the following matters in relation to which the Companies Act 2006 require5 US to Teport to you if, in our opinion: adequate accounting records have not been kepL or returns adequate for our audit have not been received from branches not visited by us. or the financial statements are not An agreement with the accounting records and returns. or certain disclosures of directors, reEnuneration specified by law ar¢ not made. or we have not received all the infonnation and explanations we require for our audi¢ or the trustees were not entitled to prepare the fmancial statem¢nts in accordance with the Sn11 companie5, regime and take advantage of the small companies, exemptions in preparing the directors. report and from the requirement to prepare a strategic report. Responsibilities of trustees As ¢xplained more llY in the trustees, respon5ibilty statement set out on pages 7 and 8, the trustees (who are also the directors of the charitsble coznpany for the purpose of company law) are responsible for the preparation of the financial statements and for being satisfied that they give and true and fair view, and for such internal control as the trustees detennine is necessary to enable tbe preparation of fman¢ial statements that are free from material misstatement. whether due to fraud or error.
WILLOWFIELD PARISH COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WILLOWFIELD PARISH COMMUNITY ASSOCIATION (continued) YEAR ENDED 31 DECEMBER 2022 Page 11 Responsibilities of trustees {¢Dntlnued) In preparing tbe financial statements, the trnstees are responsible for assessing the charttable company's abiLity to continue as a going concern, discEosing, as applicable, matters reEated to goin concern and using the going concein basis of accounting unless the trustees wither intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. 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 oi. error, and to issue an auditor's report tliat includes our opinion. Reasonable a5suran¢e is a high level of assurance. but is not a guarantee that an audit conducted in accordance with ISAS (UK) wÉll always detect a material misstatement when it exists. Misstatements 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 basks of these fanCIaL statements. Irregularitie5, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line witl? our responsibilities. outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedure5 for this engagement and the extent to which these are capable of detectÉng irregUllties, including fraud is detailed below: Extent to which the audit Was considered Capable of detecting irregularities, including frnud W¢ identify and assess die risks of material misstatement of th¢ financial statements, whether due to fraud or error, and then design and perforni the audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. Identifying and assessing potential risks related to irregularities 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: Audit response to risks Adentified: the nature of the industy and sector. control environment and charity's financial rESiiIts and position: current COVID-19 environment results of our enquiries of managem¢nt about th¢ir own identification and assessment of the risks of irregularitles; any matters we identified having obtsined and reviewed the Charity's documentstion of their policies and procedures relating to: identifying. evaluating and complying witb laws and regulations and whether they ivere aware of any instances of non-compliance. detecting and respondintr to the risks of fraud and whether tliey have knowledg¢ of any actual, suspected or alleged fraud. and the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations. the matters discussed among the audit engagement team and involving relevant internal specialists regardillg how and whei'e fraud might occur in the financial statements and potential indicators of fi'aud.
Page 12 WILLOWFIELD PARISH COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WILLOWFIELD PARISH COMMUNITY ASSOCIATION {¢ontinued) YEAR ENDED 31 DECEMBER 2022 Identifying and asses$ing potential risks related to Irregularities Icontlnued) As a result of thes¢ procedures, we considered that the particular areas in the fancIal statements that were Susceptible to misstatement were related to management bias in accounting estimates and judgements; recognition. classification and completeness of income. In Common with all audits under ISA5 (UK), we are also required to perforni Specific procedures to respond to the risk of management override. We also obtained on understanding of the legal and regulatory frameworks that the Ch8rÈty operates in. focusing on provisions of those laws and regulations that had a direct effect on the detemination of material amounts and disolosures in the financial ststements. The key laws and regulations we considered in this context included Charity legislation applicable to Northern Ireland, Charity's goveming docunienL ¢mployment law. health and safety and tax legislation. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with whioh may be findamental to the Charity's abiEity to operate or to avoid a matsrial penalty. Our procedures to respond to risks Édentified include the following: identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud. revtewing the financial statements disclosures and testing to supporttng documentation to ass¢ss compliance with provisions of relevant laws and regulations described as having a direct effect on the financial ststements. enquiring of management and extemal Legal advisors concerning actual and potenttal litigation and claims. perfornling analytical procedures to identify any unusual or unexpectsd r¢lationships that may indicate risk of material misstatements due to fraud. reading minutes of meetings of those charged with governance" obtaining an understanding of provisions and holding discussions with management to understand the b&%is of recognition. and in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustsnents including those relating to revenue recognition; assessing whether the judgements made in making accounting estinates are indicative of potential bias: and evaluating the rationale of any significant transactions that are18rgfy unusual or outside the nomial course of the charity's activities. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement teams members including internal specialists aad remained alert to any indications of fraud or non-compliance with laws and regulations tILroughoutthe audit. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularitie5, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the fmancial statements. as we will be l¢ss likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud Tather than error. os fraud involves intentional concealmenl forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with aEI laws and regulations.
WILLOWFIELD PARISH COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE nllEMBERS OF WILLOWFIELD PARISH COMMUNITY ASSOCIATION (continued) YEAR ENDED 31 DECEMBER 2022 Page 13 Auditor's responsibilities for the audlt of the finaneial statements (continuedj As part of an audit in accordance with ISAS (UK), we exercise professional judgement and maintsin professional scepticism throughout the audit. We also.. identtfy and assess the risks of material misstatement of the financiaI statements. whther due to fraud or error. design and perform audit procedures tesponsive to those risks, and obtain audit evidence that És sufflcient 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, forgeiy, intentional oinissions. misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the cii'cumstances, but not for the purpose of expressing an opinion the effectiveness of tlie charitable company's internal control. Evaluate the appropriateness of accounting policies used and the reasollablene5s of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may Cast signifIcant doubt on the charitable company's ability to continue as a going concern. If we conclude that material uncertainty exists. we are required to draw attention in our auditor's report to th¢ related disclosure5 in the fanCiaL statements or. if such disclosures are inadequate. to modify our opinion. Our conclusions are based on the audit evidence obtsined up to the date of our auditor's report. However. future events or conditions may cause the charitable company to cease to continue as a going concern. Evaluate tlie overall presentation, structure and content of the financial statements. iThcludin8 die disclosures. and whether the fInancial statements represent the underlying transactions and events in a manner that achieves fair presentation. We COrnTnunicat¢ with those charged with govemance i"egarding, nOng otlier matters, the plaIed scope and timing of the audit and 5Lgnificant audit findings. including significant d¢ficiencies in internal control that we identify during our audit.
Page 14 WILLOWFIELD PARISH COMMUNITY ASSOCIATION COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WILLOWFIELD PARISH COMMUNITY ASSOCIATION (continued) YEAR ENDED 31 DECEMBER 2022 Use of our report This report is made solely to the charitsble company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work ha5 been undertaken so that we might state to the charitable company's members those matters w¢ are required to state to them in an auditoes report and for no other purpose. To the fijllest extent pernitted by l&w. we do not accept or assume responsibility to anyone other than the charitable company and the charitabl¢ company's members as a body, for our audit worK for this repor¢ or for the opinions we have fornied. MR MtCHAELM¢CARTERFCA (Senior Statutory Auditor) For and on behalf of JACKSON ANDREWS Chartered Accountants & Stakntory Auditor 6 Mandeville Mews Portadown County Arniagh BT62 3NS