C03 CHIEF OFFICERS THIRD SECTOR IA COMPANY LIMITED BY GUARANTEEI FINANCIAL STA TEMENT5 THE.Y.EAR ÉND H20 INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF C03 CHIEF OFFICERS THIRD SECTOR Opinion IAÈ have audiled the fiftan¢ial statements of C03 Chief Officers Third Sector (the 'charty'l and its subsidiary (the 'group') for the year erKled 31 March 2024 which comprise the group statement of financial activities, the group tIalan sheet. the group statement of cash flows and the notes to the financial statements, including significant accounting policies The financial reporting framework that has been applied in their preparation is applTrcable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accountsng Pracb'ce). In our opinion the finana81 staternents.. give a true and fair view of the state of the group's arml the parent charitable company's affairs as at 31 March 2024 and of its incoming resources arrfl re%yJrces expended in the period then ended.. have been propety prepared in accordance wrth United Kingdom Generally Acceptèd Accounting Practice,. and have been prepared in accordan with Ihe UIrementS of the C(xnpanies Act 2006 Basls for opinion We conducted our audit in accordance with IntematnaI Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under ttK)se standards are further described in the Auditor's responsibilities for the audit of the xcounts secknon of our reporL We are independent of the company 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 ethTrcal 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. Concluslons relating to going concorn In audits.ng the financial statements, we have conclu¢Yed that the Trustees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identsfd any material uncertainties relating to events or conditions that, individually or collectively. may cast significant doubt on the charity's ability tocontinue as a going ¢oncem for a period of at least tWee months frorn when the financial ststements are authorised foT issue. Our sE)nsIbIlItieS and the responsibilits'es of the Trustees vrith respect to going concem are described in the relevant sections of this rep(Nt. Other Information The other information comprises the infomiation included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the fi'nancial statements does not cover the other information and we do not express any fom of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so. nSKIef whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit. or otherwise appears to be matenally misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether this gNes rise to a material misstatement in the financial statements themselves. If. based on the work we have perfom7ed. we conclude that there is a material misststement of this other informatKJn. we are required to report that fact. We have nothing to report in this regard. 13
C03 CHIEF OFFICERS THIRD SECTOR IA COMPANY LIMITED BY GUAFIANTEE) FINANCIAL STATEIAENTS OR THE YEAR ENDE RC INDEPENDENT AUDrroRS' REPORT TO THE MEPIIBERS OF C03 CHIEF OFFICERS THIRD SECTOR ICONTINUEDI Oplnions on other matters presuibed by the Companies Act 2006 In our opinion. based on the work undertaken in the course of our audit.. the informats'on given in the Difectors. Report. whh includes the Directors, Report and the strategic Report pPared for the purposes of coryany law. for the financial year for whth the accounts are prepared is consistent with the accounts,. and the directors. report included within the Trustees. report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception We have nothing to report in respect of the following matters in relation to vkich the Charities (Accounts and Reports) RelationS 2008 require us to rewt to you rf. in our opinim. the infomatK)n given in the financial stateffents is inconsistent in any material respect with the Trustees, report. or suffiuent acc>untyng records have not been kep( or certain disclosures of trustees. remuneration specified by law are nol made: or we have not received all the informats'on and explanations require for our alit. Responsibilftles of dlrectors As explained rnore fully in the staterrent of Di10r5, responsibilities, the Directors, who are also the directors of Ihe charity for the purpose of company law, are reswnsibk for the preparab'on of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the Directors determine is necessary to enable the preparation of financial statements thal are free from material misstatement whether due to fraud Of error. In preparing lh8 financial statements. the Directors are sponsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related trj going concem and using the going concern basis of accounting unless the Directors either intend to liquidate the charitable company or to cease operah'ons, or have no realistic attematrve but to do so. Audbtor's responsibilities for the audit of the finaneial statements Our objectives are to obtain reasonable assufance about whether the financial statements as a whole are free from material misststement. whether due to fraud or error. and to issue an auditorfs report that includes our opinion. Reasonable assuran is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will aVaYS detect a material misstatement when it exists. Misstatements can arise from fra1 or error and are considered material rf, individually or in the aggregate, they could reasonably be expetsd to Influen the economic decisions of users taken on the basis of these financial statements. Our approach to identifying and assessing the risks of material misstateffÉnt in respect of irregularities, including fraud and non<ompliance with laKs and regulations. was as follows". the engagement partner ensured that Ihe engagement team collectively had the appropriate competence. capabilities and skills to identrfy or recognise nOn-¢pl1an with applicable laws and regulations- we identified the laws and regulats'ons applicable to the company through discussions with directors andlor senior management. and from our commercial knowledge and experience of the sector. We focused on Speci laws and regulations which we considered may have a direct material effect on the financial statenknts or the operations of the company. including Companies Act 2006. taxation legislation. data protection. anti-bribery. employment environmental and health and safety legislation we assessed Ihe extent of Complian with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence, and identified laws and regulations were communicated within the audtt team regularly and the team remained alert to instances of non<ompliance throughout Ihe audit. 14
C03 CHIEF OFFICERS THIRD SECTOR (A COIAPANY LIMITED BY GUARANTEE) FINANCIAL STATEMENTS DÉD3 MARC 2024 INDEPENDENT AUOITORS. REPORT TO THE MEMBERS OF C03 CHIEF OFFICERS THIRD SECTOR (CONTINUED) INe assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understsnding of how fraud might ttcur, ty: making enquiries of management as to where they conSered the was suscepkn'bility to fraud, their knowledge of actual, suspected and alleged fraud; and considering the internal controls in place to mitigate risks of fraud and nonLcompliance with laws and regulath'ons. To address the risk of fraud through management 'aS and override of controls, we.. performed anatytical ProdureS to identfy any unusual or unexpected relationships; tested journal entrie5 to identify unusual transactions.. assessed whetherjudgements and assumptions made in deterniining the accounting estimates set out in Note 2 were indicatr've of potential bias: and invesb"gated the rationale behind significant or unusual transactions. In response to Ihe k of irregularities and non-¢¢ynpllan wth laws and regulations. we designed procedures which included. but were not limited to: agreeing financial statement disclosures to undeflying supporting documentats'on: reading the minutes of meetings of Ihose charged with govemance., enquiring of management as to actual and potents'al litigation and claims- and reviewing correspondence wrth HMRC and the company's legal advisors. There are inherent limitations in our audil yocedures described above. The more remved that laws and regulations are from financial transactions, the less likety it is that we would become aware of non- compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, rf any. Material misstatements that arise due to fraud can be harder to detect than th¢)se that arise from error as they may involve deliberate concealment or collusion. Use of our report Thrs report is made solety to the charitable company's members, as a body. in aco)rdance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to Ihe parent charitable company's members those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility io anyone other than the company and the charitable company's rrembers as a b¢)dy, for our audit work. for this report. or for the opinions we have formed. Angela raigan FCA (Senlor Statutory Auditor) For and on behalf of Harblnson Mulholland. Chartered Accountants and Statutory Auditors Centrepoint 24 Omieau Avenue Belfast BT2 8HS Date 23 {.10 l.a(t Harbinson Mulholland is eligible for appointment as auditor of the charity by virtue of its eligibilty for appointment as audrtor of a company under of SeCtn 1212 of the Companies Act 2006.