The Scotch-Irish Trust of Ulster
Inde[)endent auilitor's report to the Trustees of the Scotch-Irish Trust of Ulster
Yeai. ended 31 M&lrch 2024
Opiiiion
We have aiidiled the accoiiiits of Scotch-Jrisli Ti-u8t of Ulslei. (tlie ' chai'ity,) foi. the yeai. elided 31 MaL'ch 2024 w11ich
coinprise the Stateineiit of Fii)ancial Activities, Ilie Balance Sheet and the iioles to the (Iccounls, iiicluding a suininary of
sigiiificanl accountiiig policies. The financial i-epoi'ting fraiiiewoi'k tliat l)as beeli applied Éli theii. prepai-atioii is
applicable law and UT)iled I<ingdoin Accounting Standai'ds (Uiiiled l<ingdoiii Genei'ally Accepted Accoiintiiig
Pi'actice), including Stateinent of RecoiDinended Practice (SORP - FRS 102) "Accoiinling and Rei)orting by Cliarities"
iii i)i'epai'ing tlie annual repoit and financial slateineiits of the cliarity.
lii our optnion the accounts:
give a ti'ue 1( l)d fatr view of the state of the chai'ity's affairs as at 31 Mai'cli 2024 and of its incoiniiig I'esoui-ces
aiid applicalioii of i'esources, including its income aiid expenditui'e, for ihe yeai- Ilien elided.
have been pi'oi)ei'ly pi'epared in accoi'dance ivitli Uiiited Klligdoin Geiiei'ally Accepted Accouiiling Pi'actice.
aiid
Iiave been pi'epai'ed iii accoi'daiice with the Stateiiient of Recomiiieiided Pi'aclice.. Accoiiiiling and Repoiting by
Chai'ities.
Basis for opinion
We conducted our audit in accoi'dance with Ji)ternalioiial Staiidai'ds on Auditing (UK) (ISAS (Ul<)) aiid applicable law.
Oiii- responsibilities uiidei. tliose staiidai'ds al'e fui'thei. desci'ibed in the Auditoi s i'esponsibilities foi. tlie audit of the
accouiits sectioii of oiii. i'epoi'l beloiv. We are independent of the chai-ity iii accoi'dance witli tlie etliical reqiii]'eineiits that
al'e relevaiit lo our audit of the financial stateinents in the UK, includlllts the FRC'S Etliical Standai'd, aiid we have
flilfilled oiii. othei- ethical I'esponsibilities in accoi'daiice ￿litI7 tliese I'equll'eineiits.
We believe that the audit evidence we liave obtained is sufficient and appropriate to provide a basis for oui. 01?inion.
Coiiclusion relating to going concei'ii
In auditino the fiiiancial statements, we have concluded that Ilie ti-ustees use of the going concern basis of accouiiting in
the pi'epai'alion of the fiiiancial stateiiieiits is appropi'iate.
Based oli Ilie work we have pei'forined, we have iiot identified any Inaterial uncertaiiilies I'elatiiig to eveiils oi. conditions
tlial, individiially oi. collectively, Inay cast signifEcant doiibl oli tlie chai'ities ability to coiitlliue as a goints concern foi. a
pei'iod of al least tm'elve Iiiontlis fi'oiii wlien the fLnancial staleinents al'e autl)oi'ised foi. iSSlLe.
Our i'esponsibilities aiid tlie i'esponsibilities of the conunittee Ineinbers with respect to goino coiicei-n al'e described in
the relevant sections of this repDIt.
Otlier iiifoi'niation
The other infoi'matioii coinpi'ises tlie inforinalioii llicluded in tlie A1￿U91 I'eporl, otliei. than tlie accounts and our
aiiditoi s repoi't thei'eoii. The Ti'iistees al'e respoiisible foi. tlie otliei. iiifoiiiiation.
Oiii. opinioi) on the accoiints does not covei. the otliei. infoiiiiation and, eycept lo the exleiit otliej'wise explicitly stated ii)
oui. i'epoi't, we do not eipi'ess any foi'in of assui'aiice conclusion thereoii.
In connection with oui. audit of tlie accounts, oui. i'esponsibility IS to l-ead tlie othei. iiiforinatioii and, ili doing so,
considei. wlielhei. the oiliei- information is inatei'ially lllCOllSlStent with the accouiits or our kiiowledge obtaiiied in the
audit oi. otl)ei'wise appeal's to be Inatei'ially inisstated. If we ideiitify sucli inatei'ial iiiconsislencies oi- appai'ent Inalei-ial
Inisstateiiieiits, we ai'¢ i'equii'ed to delei"iiiine wlietliei. Iliei'e is a inatei'ial Inisstateineiit in the accounts or a inaterial
Inisstatenieiit of the otliei. infoi'niatioii. If, based on the woi'k we liaiie pei-forined, we conclude Iliat thei'e Is a inaterial
Inisstateinent of this othei. iiifoi'inatioi], Mie are I'equii'ed to repoi-l that fact.
We Iiave Iiothing to repoi't in this regai-d.

The Scotch-Irish Trust of Ulster
Independent audxtor's report to the Trustees ot the Scotch-Irisli Trust of Ulster
Year ended 31 March 2024 (contiiiiied)
Opitkions oil othei. niattei's
Iii our opinion, based on the woi'k uiiderlaken in the coui'se of oui. audit..
the iiifoi-lnation given in the Ti'ustees, Report fo). the financial yeai. foi. wliicl) the accouiits are prepai'ed 15
consistent witli the aecoiints. and
tlie Ti'ustees, Report has beeii prepared iii accoi'dance with api)licable legal i'equii'eiiients.
Matters on whicli Ive al'e T'equii'e(I to repoi-t by exeeption
In light of the kniowledge and undei'slandiiig of Ilie Charity and its environinent obtaiiied sn the eoui-se of Ilie audit, we
have not identified Inatei'ial misstatements in tlie Trustees, Repoit.
We have nothing to I'eport in respect of the following Inatters iii relation to which we are i'equii'ed to i'eport to you if, in
oiir opinion.
adeqiiate accouiitints i-ecoi-ds have iiot been kept, oi. i'etui-ns adequate foi. our audit have Iiot been received. oi-
the accounts al'e not iii agi'eeinent with the accouiiting i-ecords and I'eturns; or
cei'lalll disclosures of reinuiieration specified by law al'e not Inade. oi.
we liave not i'eceived all the llifoi'ination aiid explanatioiis we reqiiii'e foi. oui. audit.
Responsibilities of Ti-listees
As explallied rnore fully in the Stateinent of Triislees, Responsibilitie5, the Ti'ustees arc responsible for tlie preparation
of the accounts and for being satisfied tliat they give a triie and fair view, and foi. siich inleimal coiitrol as tlie trustee5
detei'iiiiiie is iiecessai'y to eiiable Ilie pi'epai'ation of accouiits tliat al'e fl-ee fi'oiii Inatei'ial inisslaleineiil, Hiliethei- due lo
fraud or eii-or.
In pi'epai'ing the accounts, the Trustees are i'esponsible for assessinty tlie cliai-ity's ability to continue as a going concerii,
disclosiiig, as applicable, iiiattei's I'elating to going coiiceiii aiid usiiig the going coiicei'n basis of accounting iinless the
Trustees eithei. intend to liquidate the chai'ity or to cease opei'atioiis, oi. have no i'ealislic alieriiative but to do so.
Auditoi-'s i-esponsibilities foi- tlie audit of the fiiiancial stateiT]eiits
Oui objectives al'e to obtain i-easonable assui'ai)ce about whetliei. the accounts as a whole al'e free fi'oin iiiatei'ial
Inisstateineiit, whetlier due to fi'aud oi- eri'oi-, and lo issue ali auditoi s rei)ort that inclLides oui. opiiiion. Reasonable
assui'ance is a higli level of assurance but is iiot a giiarantee that ali audit coiiducted in accordaiice with ISAS (UK) will
alivays detect a Inaterial iiiisstaten]ent wlien it exist5. Misslateinenls can ai'ise fi'oin fraud oi. ei'i'or ai)d are coiisidei'ed
matei'ial if, individually oi. iii the aggregate, they could i-ea50nably be expected to influence the econoinic decisions of
users takeii oil the basis of Iliese accoullt5.
Ii'i'egulai'ilies, including fi'aud, al'e instances of non-coinpliaiice with laws and i'egulations. We desigii pi'ocedures in line
with oiii. i-esponsibilities, outlined 1( bove, to detect iiiatei'ial Inisstateiiients iii I'espeet of ii-j'egulai'ities, iiicluding fi'aud.
The extent lo which our pi'ocedui'es are capable of detecting lll'egulai-ities, iiicliiding fi'aud is detailed below..
We gaiiied an understandllig of the legal and i'egiilatoi-y frainework applicable to the chai'iiy aiid tlie iiidiistiy iii which it
opei'ates, aiid considered the risk of acts by the cliai'ity tliat were conb'aiy to applicable laws aT)d i'egiilations, iiicliiding
fi'aud. We designed aiidit pi-ocediii'es to I"espond to the i'isk, I"ecogiiising tliat the i'isk of Iiot detectiiig a matei'ial
Inisslalemeiit due to fraiid is higher than tlie I'isk of not detecting one I'esiiliing fi'oiii erroi-, as Ii'aud inay involve
deliberate concealmeiit by, foi. exaiiiple, foi'gei'y or llilentional inisi'epi'e5enlations, oi- Ihi'oiigh collusioii.
We fociised 011 laws aiid i'eglilations wliicli coiild give I'ise to a iiiaterial iiiisslateiiients iii the flliaiicial slateinents.
iiicluding, but not liinited to, tl)e accountiiits aiid i'epoi"tuig of chai'ities aiid UK lax legislatioii. OLII. tests incliided
atsi'eeiiig the financial stateineiits disclosuL'es to underlying supporlllig docuinentation, enquires witli inanaoeineiit and
ei)qiiii-es of legal counsel whei-e appropi'iate. Tliei'e al'e inlierent liinitations in the audit pi'ocediires

The Scotch-Irish Triist of Ulster
Independent auditor's report to the Triistees of the Scotch-Irish Trust of Ulster
Year ended 3] March 2024 (continued)
dtt5cribed above and, Ilie fiirtliei. i'emoved non-coinpliance with laws aTJd regulations is fi'oin the eveiits and li'ansactioiis
Irflected in the financial stateinenls, Ilie less likely we would becoine awai'e of it. We did not ideiilify any key audit
Inatters relating to ii'i'egulai'ities, iiicluding fi'aud. As iii all oui. audits, we also addi-essed Ilie I'isk of inaiiageinent
overi'ide of iiitei'nal contt'ols, llicluding testing joui'na15 and evaliiatiIig whethei. tliere was evidence of bias by the
COlll1l1itlee Ineinbers that I'epi'esented a I'isk of inaterial inisstatenient due Ic) frEtLId.
A fui'ther desci'iptioii of oiii. i'espoiisibilities for the audit of Ilie accoiiiits is located on the Fiiiancial Reporting Couiicil's
website at-. http'./lwww.fi'c.org.uldauilitoi'srespoiisibilities. This descriptioii foi-lns pai-l of out. auditor's report.
This i'eport is inade solely lo the chai'ity's Ti'ustees. as a body, iii accordaiice with Chai'ities Act (Norlliei-11 Ii'eland) 2008
and I'egiilalioiis i)iade Linder that Act. Oiir aiidit woi'k has been iiiidei'lakeii so tliat we Inight state to Ilie chai'ity's
Ti-LlStees those Inattei's we al'e i'equii'ed lo state to Iliein in ali auditoi s i'ei)0I't aiid foi. iio otliei. piiipose. To the thllesl
exlenl pei'niitted by law, we do not accept oi. assuine I'espoiisibility lo anyoiie other Ihaii Ihe charity aiid its Trustees as a
body, for oui" aiidit wol-l(, foi. this i'epoi't, oi. foi. the opinions we have foi'ined.
Mi. Ilodney Haiiiill FCA (Senioi. Slalutoi'y Auditor)
Foi- and on behalf of
E4ainill McIlwaine
Charlei'ed Accoiinlaiits and Stattitoiy Auditor
28-30 Old Mountfield Road
Oinagli
Co. Tyi'oiie
BT79 7BJ
23 October 2024