C03 Chief Officers Third Sector Company Llmlted by Guarantee INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS ear Ended 31 March2023 Oplnlon We have audited the group and parent charitable company financial Statements of C03 Chief Officers Third Sector for th8 year ended 31 March 2023 which Comprises the Consolidated and charity Statement of Financi81 Activities, the consolidated and charity Balance Sheet. the Consolidated c35h flow slalement and the notes to the accounts including a sumrnary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounb'ng Standards, including Financial Reporting Standard 102 The Financial Reparting Standard applicable In the UK and Republic of Ireland (United Klngdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the group and parent charitable company's affairs as at year ended 31 March 2023 and of the group's and parent charitable company's incoming resources and application of resources, including its income and expenditure, for the 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. Basls for oplnion We conducted our audlt in accordance with Inlernalional Standards on Auditing IUKI (ISAS {UK)l and applicable law. Our responsibilities under those standards are further descnbed in the Auditor's responsibilities for the audit of the accounts section of our report. We are 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 Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclu8lons relatlng to golng concern In auditing the financial Statements, we have concluded that the trustees, usa of the going concern basis of accounting in the preparation of the financial statements is appropiate. Based on the work we have performed, we have not identified any material uncertainties relating to events or condition$ that, individually or collectively, may cast signifi'cant doubt on the group and charity's ability lo contlnue as a going concern for a period of 8t least e1ve months from when the financial statemènt8 are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of Ihis report. 12
C03 Chlef Officers Third Sector Company Limited by Guarantee INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS Year Ended 31 March2023 Other Inlormatlon The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly staled in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the accounts. our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or OLtr knowledge obtained in the audit or otherwise appears lo be materially misstated. If we identify Such material inccnsistencies or apparent material misstatements, we are required to determine whether there is a material mi88tatement in the financial ststements or a matarial misstatement of the other information. If, based on the work we have performed, we conclude that ther8 18 a material misst8tement of this other informatlon, we are rèquired to report that fact. We have nothing to report in thls regard. Oplnlons on other matters pre8crlbed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of our audit.. - the information given in the Trustees Report for the financial year for which the financial statements are prepared is consistent with thefinancial statement8', and the Trustee5 Report has been prepared in accordance with applicable legal requirements. Matters on whlch we are requlred to raport by exceptlon In the light of the knowledge and understanding of the Trustees and its environment obtained in the course of the audit, we have not identified matarlal mi88tat8ments in the Trustee8 Report. We have nothing to report In respect of the ft)Ilowing matters in relation to which the Companlès Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not b8en kept. or retums adequate for our audit have not been received from branches not visited by us,- or the financial statements are not in agreement with the accounting records and tUrnS.. or certain disdosures of trustees, remuneration specified by law are not made., or we have not received all the information and explanations we require for our audil. 13
C03 Chlef Offlcers Third Sector Company Llmlted by Guarantee INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS Year Ended 31 March2023 Responslbllitl8s of Trustees As explained more fully in the Statement of Trustées Responsibilities, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such Internal control as the directors determine 1$ necessary to enable the prèparation of financial stalements that are free from material misstaternent, whether due to fraud or error. In preparing the accounts, the Trustees are responsible for assessing the charity's 8bility to continue as a going concern, disclosing, as applicable. matters relaled to going concern and using the gcing concern basis of accounting unless the Trustees either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. Audltor'• MponslbllltleB for the audit of tho flnanclal ¥tatement8 Our obiectives are ta obtain reasonable assurance about whether the accounts as a whole a free from material misstatement. whether due to fraud or error, and to issue an auditols report that includes our opinion. Rea90nable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstalement 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 basis of these accounts. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent tc which our procedures are capable of deteth.ng irregularities, including fraud, is detailed below. We obtained an understanding of the legal and regulatory framework applicable to the company through enqulry of management, industry research and the application of cumulative audit knowledge. We identified the following princrpal laws and regulation8 relavant to the company - Companie$ Act 2008 and the Financial Reporting Standard applicable in the UK and Republlc of Ireland {FRS 1021. We developed an understanding of the key fraud risks to the entity {in¢luding how fraud might occur), the controls in place to help mitigate those risks, and the accounts, balances and disclosures within the financial statements vthich may be susceptible to management bias. Our understanding was obtained through review of the financial statements for significant accounting estimates, analysis of journal entries, walkthrough of the key controls cycles in place and enquiry of managemenl. 14
C03 Chlef Offlcers Third Sector Company Limited by Guarantee INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS Year Ended 31 March2023 Our procedures lo respond to those rlsks identified included, but were not Ilmited to.. Enquiry of rnanagement, those ch8rged with governance and the entity's solicitors around actual and potential litigation and claims. Enquiry of management to identify any instance3 of non-compliance with laws and regulatlons, Reviewing minutes of meetings of those charged with governance. Reviewng financial statement disclosures and testing to Supporting documentatlon to assess compliance with applicable laws and regulations. Auditing the risk of management override of control8, Including through t8sling journal entries and other adju$tm8nts for appropriatene55, and evaluating the business rationale of significant transactions outside the normal Murse of business. A further description of our responsibilitie8 ftjr the audit of the accounts 18 located on the Financial Reporting Council's website at.. http'.Ilm.frc.Ory.k1audIt0f5r88ponsIbIIi'es. This description forms part of our auditorfs report. This report is made solely to the charitable companVs members,a8 a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and re9ulation8 made under that Act. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone oth8r than the charitable company and its members a8 a body, for our audit work, for thi8 report, or for the opinions we have formed. JL Grant {S8nlor statutory Audltorl for and on behalf of FPM ACCOUNTANTS LTD Chartered Accountants & Statutory Audltor 1-3 Arthur Street Belfast 8T14GA 15