Report of the Independent Auditor5 to the Trustees of
The Walter Watson Charitable Trust
Opinion
We have audited the financial statements of The Walter Watson Charitable Trust (the 'charity') for the year ended
29 September 2023 which comprise the Statement of Financial ActivRties, the Balance Sheet, the Cash Flow Statement
and notes to the fmancial statements, including a summary of significant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards
(United Kingdom Generally Accepted Accounting Practice). including Financial Reporting Standard 102 'The Financial
Reporting Standard applicable in the UK and Republic of Ireland,.
In our opinion the fll)ancial statements:
give a true and fair view of the state of the charitys affairs as at 29 September 2023 and of its incoming resources and
application of resouices, for the year then ended-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland
and
have been prepared in accordance with the requirements of the Charlties Act 2011.
Basis for opinion
We conducted our audit in accordance witb International Standards on Auditing IUK) (ISAS (UK)) and applicable law.
Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the
financial statements section of our report. We are independent of the charity in accordance with the ethical requirements
that are relevant to OUT audit of the flnancial statemenls in ihe UK. including the FRC'S Ethical Standard, and we have
fillfilled our other etbical responsibilities in accordance with these requirements. We believe that the audit evidence we
have obtained is suificient and appropriate to provide a basis for our opinion.
Material uncertainty relating to goÉng eoncern
In auditing the fllwicial statements, we have concluded that the trustees, use of the going concern basis of accounting in
th¢ preparation of the fmancial statements is appropriate.
Based on the work we have perfornied, we have not identified any material uncertainties relating to events or conditions
that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a
period of at least twelve months from when the fmancial statements are authorised for issue.
Our responsibilities and the responsibilities of the tnlstees with respect to going concern are described in the relevant
sections of this Teport.
Other information
The trustees are responsible for the other inforniation. The other inforniation comprises the inforniation included in the
Annual Report, other than the financial statements and our ReFK)rt of the Independent Auditors thereon.
Our opinion on the fmancial statements does not cover the other infonnation and, except to the extent othenvise
explicitly stated in our report. we do not express any forn] of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other inforniation and, in doing
so, consider whether the other inforniation is materially inconsistent with the fmancial statements or our knowledge
obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencie5 or
apparent nmterial misstatements, we are required to detemiine whether this gives rise to a material misstatement in the
fmancial statements themselves. If, based on the work we have perfornied, we conclude that there is a material
misstatement of thi5 Other inforn]ation, we are required to report that fact. We have nothing to report in this regard.
Matters on which Ive are required to report by exception
We have nothing to report in respect of the following matters where the CharitÈes Commission for Northern Ireland
requires us to report to you if, in our opinion:
- the inforn￿tIon given in the Report of the Tn￿te¢S is inconsistent in any material respect with the fmancial statements;
or
- sufficient accounting records have not been kept; or
- the f￿anCIal statements are not in agreement with the accounting records and rettwns. or
- we have not received all the information and explanatlODS we require for our audit.

Report of the Independent Auditors to the Trustees of
The Walter Wstson Cbaritable Trust
Responsibilities of trustees
As explained more fully in the Trustees, Responsibilities Statement, the trustees are responsible for the preparation of the
financial statements which give a true and fair view, and for such internal control as the trustees detennine is necessary
to enable the preparation of flllancial statements that are free from material misstatement, whether due to fraud or e￿Or.
In preparing the fmancial statements, the trustees are responsible for assessing the charitys ability to continue as a going
concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting
unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do
so.

Report of the Independent Auditors to the Trustee5 of
The Walter Watson Charitable Trust
Our responsibilities for the audit of the financial statements
We have been appointed as auditors under Section 144 of the Charities Act 201 l and report in accordance with the Act
and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance
with ISAS (UK) will always detect a material mlsstatement 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 fmancial statements.
The extent to which our Procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud
and non-¢ompliance with laws and regulations, was as follows:
the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities
and skills to identify or recognise non-compliance with applicable laws and regulations.
we identified the laws and regulations applÈcable to the company through discussions with director5 and other
managemenL and from our commercial knowledge and experience of the computer component manufacturing and
supply sector.
we focused on specific laws and regulations which we considered may have a direct material effect on the financial
statements or the operations of the Charity. including Charities Act (Northern Ireland) 2008, tsxation legislation and data
protection, anti-bribery, employment, environmental and health and safety legislation.
we assessed the extent of compliance 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 audit team regularly and the team remained alert to
instances of non-compliance throughout the audit.
We assessed the susceptibility of the charitys fmancial statements to material misstatement, including obtaining an
understanding of how fraud Might occur, by:
making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of
actual, suspected and alleged fraud. and
- considering the int¢rnal contro15 in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and ovetride of controls, we:
- perfornied analytical procedures to identify any unusual or unexpected relationships.
- tested journal entries to identify unusual transactions.
assessed whether judgements and assumptions made in deternjining the accounting estimates set out in the notes were
indicative of potential bias. and
- investigated the rationale behind signtficant or unusual transactions.
In response to the risk of irregularities and nonwcompliance with laws and regulations, we designed procedures which
included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation.
- reading the minutes of meetings of those Charged witb governance"
enquiring of management as to actual and potential litigalion and claims. and
- reviewing correspondence with HMRC.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are
from fmancial transaction5, the less likely 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, if any.

Report of the Independent Auditors to the Trustees of
The Walter Watson Charitable Trust
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve
deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting
Council's website at www.frc.org.uklauditorsresponsibilities. This description forn]s part of our Report of the
Independent Auditors.
Use of our report
This report is made solely to the charitys trustees, as a body, in accordance with Part 4 of the Charities (Accounts and
Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those
matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent perniitted by
law, we do not accept or assume responsibility to anyone other than the charity and the charitys trustees as a body, for
OUT audit work, for this reporL or for the opinions we have fornied.
M.B.Mc Grady
Chart¢Ted Acco
Statutory Auditors
Rathmore House
52 Si Patrick5 Avenuc
Downpatrick
Co. Down
BT30 6DS
ts
13 December 2023