LOUGHGIEL COMMUNITY ASSOCIATION LTD INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LOUGHGIEL COMMUNITY ASSOCIATION LTD YEAR ENDED 31 MARCH 2024 Diselaimer of opinion We ivei'e engagled to audit the financial statements of Loughgiel Community Association Ltd (the 'cliarity') for the year ended 31 M'¢h 2024 which comprise tlie Stat¢mciit of Financial Activities, the Balance SheeL the Cash flow statement and the notes to the accounts, including a summary of significant accounting policies. The fmancial reporting fram¢iv0 that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, incliiding Financial R¢porting Standard 102. Tlie finanLial Reporting gtandard appli¢able in the UK and Republic of Ireland (Uniled Kingdorn Genei'ally Accepted Aecountin8 Practic¢). We do not expTess an opinion on the accompanying finAncial statements of the charity. Because of the significance of the matter desGribed in the basis for disclaimer of opinion section of our report, we have not been able to obtsin suifici¢nt appropriate audit evidenee to provide a basis for an audit opinion on these fanCIal statements. Basis for disclalmer of oplnion The charity was unable to provide sufficient and appropriate audit evidence to verify the completeness of genernted income, iior did they fully consid¢r the VAT implications of sucli income. Tlie charity has also been unable to cat¢&7orise costs between charitable activities and those cosls incurred which are trade ui nature, resulting in uncertainty of and a potential material misrepresentstion of perforniance. In addition, we have been made aware of a confidential matt¢r which Inay have & material impact on the Charity's ability to continue on a going concern basis. Given th¢ Confidential nature of this matter, DO infonnation has been disclosed to us 85 auditors and we are therefore unable to quantify and conclude on this potential risk. The charity has been unable to provide sufficient appropriate audit evidence to support the going Concern assumptTOn. We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicAble l&w. Our responsibilities under those standards are further described in the Auditols responsibilities for the audit of the accounts section of our report. We Ore independent of the charity in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK including the FRC'S Ethical standar and we ve fulfilled our other ethical responsibilities in accordance with these requirements. Because of the signifi¢ance of the m2tteT desGribed above, w¢ b¢li¢v¢ it is appropriate to disclaim our opinion. Opinions on other matters prescribed by ihe COMnIeS Act 2006 Because of the signifieance of the matter described in the basis for disclaimer of OPTnion section of our repor¢ we have been unable to fonn an opinion. whether based on the work undertaken in the course of the auditr the information given in the Trustees Report for the fmancial year for which the t-uwicial ststements ate prepared is consistent with the financial statstllents. and th¢ Trustees Rew)rt has been prepared in acwrdance with applicable lega requirements. 12
LOUGHGIEL COMMUNITY ASSOCIATION LTD INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LOUGHGIEL COMMUNITY ASSOCIATION LTD (continued) YEAR ENDED 31 MARCH 2024 Mattera OD which we are required to report by exception Notwithstanding our disclaiiner of an opiiiion on the financial statements, in the Iight of the kiiowledge and uiidersianding of tlie eompany and its environinent obtatned in the course of the audit perfomied subject to the pervaslve limitation described above, we have nol identified material misstateinents in ihe Tntbtee5' report. Arising from the limitation of our work referr¢d to above: we have Dot obtained all the infomiation and explanations that we considered ne¢¢ss8ry for the purpos¢ of our &udi¢ and we were unable to deternline whetlier adequate accounting records have been kept. We have nothing to report in respect of the following matters in relation to which th¢ Companies Act 2006 requires us to report to you if, in our opinion., the financiAI statements are not in agreement with the a¢countiJ]g rcGords and returns. or certain disclosures of directors, reiiiuii¢raliori Specified by law are not made. or the directors were not entitled to prepar¢ th¢ financial stateIn¢nis in accordance with the sniall compai)ies regime and take advantage ofthe smoll companies, exeniplions in prep.]ng the directors, report and fi'om Ilie requirement to preparc & strategie report. Responsibillties of Trustees As explained more fully in the Statement of Trustees Responsibilities, the Trustees who are also the directors of the charity for the purpose of company law, llre responsible for the preFération of Ihe financial siatements and tor being satisfied that they give a true and fair view, and for such internal control as the directors deterniine is necessary to enable the preparation of fmancial statements that are free from material mi55tatement, whether due to fraud or error. In prep8ring the financial statei))ciits, the Trustees are responsTble for assessing the eliarity's ability to continue as a going coiicern, disc105ing. as applicable, matters related to going concern and using the going concern basis of liccounting unless tlie TrLlStees eitlier u)teiid to liquidate th¢ company or to cease operations, or have no realistic alternative but to do so. 13
LOUGHGIEL COMMUNITY ASSOCIATION LTD INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LOUGHGIEL COMMUNITY ASSOCIATION LTD fcontlnu6d) YEAR ENDED 31 MARCH 2024 Auditor's responsibllities for the Audit of the finaneial statements Our responstbility IS to conduct an audit of the company's fIn)cIal statements in accordance witli International Standards on ALiditing (UK) aiid io issue an auditor's report. However, because of the matter deScrid in the basis for disclainier of opinion section of our report, Ive were not able to obtain suificient appropriate audit evidence to provide a basis for an audit opinion on these financial statements. W¢ are independenl of th¢ company in accordaiice with the ¢thicAI Itquirements tliat are relevaiit to our audit of the financial statements in the UK, including the fRC's Ethical Standard. and the provisions available for small entities to the financial ststernent& and w¢ have fulfillcd our other ethical r¢sponsibililics iii a¢cordanc¢ witli these requir¢m¢nts. A further description of our responsibilities for the audit of the accoiints is located on the Financi Reporting Council's website at: htt :l/ww'is,.trc.Dr v Uaall()r5rL onsibilities. This de5CriPtion forms part of our auditovs report. This report is made solely to the company's members, as a body, in accordance with Cbapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those marters we are required to slate to them in auditor's rep011 41nd foi. iio other purpos¢. To the fullest extenl. perm itted by law, we do not accept or assumc responsibility to anyone other tlian tli¢ compgny and th¢ conipany's membLrs as a body, for our audit worl for this report, or for the opinions we have formed. Teresa CAmpb¢ll (Senior Statutory Auditor) For And on behalf of AAB Group Accountants Limited Statutory Auditors 1-3 Arthur Street Belf&8t Co. Antrim BTI 4GA Date: 23 January 2025 14