Council of the Northern Ireland War Memorial (Incorporated) - The
Company Limited by Guarantee
Independent Auditor's Report to the Members of Council of the Northern
Ireland War Memorial Limited
Year ended 31 January 2024
Opinion
We have audited the financial statements of Council of the Northem Ireland War Memorial Limited (the 'charity')
for the year ended 31 January 2024 which comprise the statement of financial activities (including income and
expenditure account), statement of financial position, statement of cash flows and the related notes. 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, including FRS 102 The Financial
Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting
Practice).
This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the
Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those
matters we are required to state to them in an auditovs report and for no other purpose. To the-fullest extent
permitted by law. we do not accept or assume responsibility to anyone other than the charity and the charity's
members as a body, for our audit work, for this report, or for the opinions we have fomed.
In our opinion the financial statements..
give a true and fair view of the state of the charity's affairs as at 31 January 2024 and of its 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 Practi￿.,
have been prepared in accordan￿ with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the auditor s 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 our audit of the financial statements in the UK, including the FRC'S Ethical
Standard, and the provisions available for small entities, in the circumstances set out below, and we have fulfilled
our other ethical responsibilities in accordan￿ with these requirements. We believe that the audit evidence we
have obtained is sufficient and appropriate to provide a basis for our opinion.
In common with many other organisations of a similar size and nature, the charity uses its auditors to prepare and
submit retums to the tax authorities and assist with the preparation of their organisation's financial statements.
Conclusions relating to going concern
We have nothing to report in respect of the following matters in relation to which the ISAS (UK) require us to report
to you where:
the trustees, use of the going concern basis of accounting in the preparation of the financial statements is
not appropriate., or
the trustees have not disclosed in the financial statements any identified material uncertainties that may cast
significant doubt about the charity's ability to continue to adopt the going concern basis of accounting for a
period of at least I￿e1ve months from the date when the financial statements are authorised for issue.
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Council of the Northern Ireland War Memorial (Incorporated) - The
Company Limited by Guarantee
Independent Auditor's Report to the Members of Council of the Northern
Ireland War Memorial Limited (continued)
Year ended 31 January 2024
Other infomiation
The other information comprises the information included in the annual report, other than the financial statements
and our auditorfs 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 stated in
our report, we do not express any form of assuran￿ conclusion thereon.
In connection with our audit of the financial statements, 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 our
knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material
inconsistencies or apparent material misstatements, we are required to determine whether there is a material
misstatement in the financial statements or a material misstatement of the other inft)rmation. If. based on the work
we have performed, we conclude that there is a material misstatement of this other infomiation. we are required
to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the trustees, report for the financial year for which the financial statements are
prepared is consistent with the financial statements., and
the trustees, report has been prepared in accordan￿ with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the
audit, we have not identified material misstatements in the trustees, report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires
us to report to you if, in our opinion:
adequate accounting records have not been kepL or returns 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 ￿cOrdS and returns; or
certain disclosures of tfUStees' remuneration specified by law are not made" or
we have not received all the information and explanations we require for our audit,. or
the trustees were not entitled to prepare the financial statements in accordance with the small companies
regime and take advantage of the small companies, exemptions in preparing the directors, report and from
the requirement to prepare a strategic report.
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Council of the Northern Ireland War Memorial (Incorporated) - The
Company Limited by Guarantee
Independent Auditor's Report to the Members of Council of the Northern
Ireland War Memorial Limited (continued)
Year ended 31 January 2024
Responslbllities of trustees
As explained more fully in the trustees, responsibilities ststement, the trustees (who are also the directors for the
purposes of company law) are responsible ft)r 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 trustees determine is necessary to enable
the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue
as a going concern, disclosing, as applicable, matters related to going concern and using the going con￿rn basis
of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realisti
alternative but to do so.
Auditorfs responsibllltles for the audit of the financial statements
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 an auditor's report that includes our
opinion. Reasonable assurance is a high level of assuran￿, but is not a guarantee that an audit conducted in
a￿ordan￿ with ISAS (UK) will always detect a material misstatement 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 financial statements.
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 to which our procedures are capable of detecting irregularities, including fraud is
detailed below:
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-
Complian￿ with laws and regulations. we considered the following:
the nature of the industry and sector, control environment and business performance including the
design of the remuneration policies. key drivers for directors, remuneration, bonus levels and
performance targets"
results of our enquiries of management about their own identification and assessment of the risks of
irregularities-
any matters we identified having obtained and reviewed documentation of their policies and procedures
relating to=
identifying, evaluating and complying with laws and regulations and whether management were
aware of any InStan￿S of non-compliance",
detecting and responding to the risks of fraud and whether management have knowledge of
any actual, suspected or alleged fraud:
the intemal controls established to mitigate risks of fraud or non-compliance with laws and
regulations.
the matters discussed among the audit engagement team including significant component audit teams
and relevant internal specialists, including tax and valuations specialists regarding how and where fraud
might occur in the financial statements and any potential indicators of fraud.
As a result of these procedures. we considered the opportunities and in￿ntiveS that may exist within the
organisation for fraud and identified the greatest potential for fraud. In common with all audits under ISAS (UK),
we are also required to perfom specific procedures to respond to the risk of management override.
We also obtained an understsnding of the legal and regulatory frameworks in operation, focusing on provisions
of those laws and regulations that had a direct effect on the detemiination of material amounts and disclosures
in the financial statements. The key laws and regulations we considered in this context included ongoing
compliance with the UK Companies Act and tax legislation.
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Council of the Northern Ireland War Memorial (Incorporated) - The
Company Limited by Guarantee
IndependentAuditor's Report to the Members of Council of the Northern
Ireland War Memorial Limited (contlnuedj
Year ended 31 January 2024
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the
. financial statements but compliance with which may be fundamental for their ability to operate or to avoid a
material penalty.
As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain professional
$￿pticISM throughout the audit. We also:
Identify and assess the risks of material misstatement of the financial ststements, whether due to fraud or
error, design and perfomi audit procedures responsive to those risks, and obtain audit evidence that is
sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement
resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery,
intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit prO￿dureS that are
appropriate in the circumstances. but not for the purpose of expressing an opinion on the effectiveness of
the internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates
and related disclosures made by the trustees.
Conclude on the appropriateness of the trustees, use of the going concem basis of accounting and, based
on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that
may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a
material uncertainty exists, we are required to draw attention in our auditorfs report to the related disclosures
in the financial statements or, if such disclosures are inadequate. to modify our opinion. Our conclusions are
based on the audit evidence obtained up to the date of our auditorfs report. However, future events or
conditions may cause the charity to cease to continue as a going COn￿rn.
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures,
and whether the financial statements represent the underlying transactions and events in a manner that
achieves fair presentation.
We communicate with those charged with governan￿ regarding. among other matters, the planned scope and
timing of the audit and significant audit findings, including any significant deficiencies in internal control that we
identify during our audit.
Paul Dolan FCA (Senior Statutory Auditor)
13th June 2024
For and on behalf of
Finegan Gibson Ltd
Chartered accountant & statutory auditor
Causeway Tower
9 James Street South
Belfast
BT2 8DN
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