2023-03-31-annual-return

CIIAitTF.]LEfJ ACCOUNTAN'TS Open House Festival Limited (A Company limited by guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF OPEN HOUSE FESTIVAL LIMITED (a compAny limited by guarantee) YEAR ENDED 31 MARCH 2023 Opinion We have audited the fiftancial statements of Open House Festival Limited (the 'parent charitable company,) and its subsidiaries (the '8roup) for thc year ended 31 March 2023 which comprise the Consolidated Statement of Financial Activities (including income and expenditure accounl). the Consolidated Balance Sheet, the Parent Charitable Company Balance Sheet, the Consolidated Statemenl of Cash Flows and notes to the financial statements. including significant ac¢ounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standard5, including Financial Reporting Standard 102 The Financial Reporling Siundard applicable in ihe UK and Republic of Jreland {United Kingdom Generally A¢¢ept¢d Accounting Practice). In our opinion th¢ financial slatements: give a true and fair view of the state of the group's and of the parent charitable company's affairs as at 31 March 2023, and of the group's incoming r¢sourc¢s and application of resource& including its income and expenditu￿. for the year then ended. have been properly prepared in accordance with United Kingdom Generally Accepted A￿oUntIng Practice; and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK)(ISAslUK)) 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 group and parenl charitable company in accordance with th¢ ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Eihical Standard, and the provisions available for small entities, in the ¢ir¢umslances set out in note 31 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit eviden¢e we have obtained is sufficient and appropriate to provide a basis for our opinion. 10 A]f￿d Howe 19Alfrrd Stro liUIAsr 8KQ DX 3910 NR BEI.FAST.50 Centvry House 40 CrtceDt Bufjln￿ PArk K.tsHuB Ff28 2GN l7 Mandevillestrttt FORTADOWN CEaigavoD BT62 3PB Tel.. +44(ok8 9031 1113 Fax.. [phone] OTn Ttl.. [phone] Tlax.. +44(oW 9260 i6,56 Tcl: +44(0)￿8 3333 2801 Fax: [phone] (4rtLYcdArwnlants I111#Th4AThlitors l awlcrwJTaxAd¥lwrs I I C0rNY4reVlnu￿Advkn GM¢friJW IT•thgD•meofGblLGlkthw I￿￿11(d. Ile&lkn 141059660. liBlofDiredor¥mfaithal reBtsleTed oifK¢ Rryittwedt• rtsmdudayth ￿￿￿t￿lIll1￿1lluledC￿art￿￿A￿uThElnrS{Th Irel

Open House Festiival Limited (A company limited by guarantee) INDEPENDEIYT AUDITORS, REPORT TO THE MEMBERS OF OPEN HOUSE FESTIVAL LIMITED (a company limlted by guarantee) (conlinued) YEAR ENDED 31 MARCH 2023 Conclusions relaling to going ¢oncern In auditing the financial statements, we have con¢luded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfomied, we have not identified any material uncertaintie5 relating to events or conditions that individually or collectively, may cast significant doubt on the group's and parent charitable company's ability to conlinue as a going concern for a period of at least twelve months from when the financial stat¢m¢nts are authorbsed for issue. Our responsibilities and the responsibilities of the trustees wilh respect to going concern are d¢￿ribed in the relevant sections of this report, Other informalion The other infomiation comprises the infonnalion included in the trustees, annual report other than the financial statements and our auditor's report th¢r¢in. The trustees are responsible for the other inforniation contained within the annual report. Our opinion on the financial statements does not cover the other inforniation and, except to the extent otherwise explicitly stated in our report, we do not express any forni of assurance conclusion thereon. Our responsibility is to read the other infonnation and, in doing so, consider whether th¢ other inforniation is materially inconsistent with thc financial statements or our knowledge obtained in the course of the audi( or otherwise appears to be materially misstated. If we idenlify such material inconsistencies or apparent material misslatements. we are required to deterniine whether this gives rise to a material misstatement in the financial statements themselves. If based on the work we have perfornicd, we conclude that there is a material misstatement of this other inforniation, we are required to report that fact. We have nothing to report in this regard. Oplnlons on other matters prescribed by Ihe Companies Act 2006 In our opinion, based on the work undertaken in the course of ihe audit: the infornialion given in the trustees, report which includes th¢ directors, report prepar￿ for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements. and the directots, report included within the trustees, report has been prepared in acwrdance with applicable le8al requirements.

Open House Festival Limited (A company limited by guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF OPEN HOUSE FESTIVAL LIMITED (a company limited by guarantee) (colllinued) YEAR ENDED 31 MARCH 2023 Matters on which we are required lo report by exception In the light of our knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors, 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 kept by the parent charitabl¢ company, or returns adequate for our audit have not been received from branches not visited by us. or the parent company's financial statements are not in agreement with the accounting r￿ordS and relurns; or ccrtain disclosures of directors, remuneration specified by law are not made; or we have not received all the inforniation and explanations we require for our audit; or the trustees were not entitled to prepare the financial statements in accordance with the small companies. regim¢ and take advantage of th¢ small companies, exemplion5 in preparing the directors. report and from the requirement to prepare a strategic report. Responsibilities of Irllstees As explained more fully in th¢ statement of directors, responsibilities set out on pages 8 and 9. the trustees (who are also the directors of the parent charilable company for thc purpose of company law) are responsible for the preparation of the financial statemenls and for bcing satisfied that they give and true and fair view. and for such internal control as the trustees detennine is necessary to enable the preparation of financial statements that are fr¢e from material misstatement, whether due to fraud or error. In preparing the financial slatem¢nts, Ihe trustees are responsible for assessing the group and parent Charitable company's ability to conlinue 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 group or parent charitable company or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilitie8 for the audit of the financial statements Our objectives are to obtsin reasonable assurance about whether ihe financial statements as a whole are free from material misslatemenL whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarant¢¢ that an audit conducted in accordance with ISAS (UK) will always d¢t¢ct a material misstatement when il cxisls. Misstatements can arise fmm fraud or error and are considered material if. individually or in the aggregate, they could rcasonably be expected to influence the economic decisions of users taken on the basis of th¢s¢ financial statements. Irregularities. including fraud. are instances of non-compliance with laws and re8ulalions. We design procedures in line with our responsibililies, outlined alx)ve, to detect material misstatements in respect of irregulariti¢s, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below: 12

Open House Festival Limited (A company limited by guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF OPEN HOUSE FESTIVAL LIMITED (a company limited by guarantee) (conllnuedj YEAR ENDED 31 MARCH 2023 Extent to which the audit was considered capable of detecling irregularities, ineludlng frAud We identify and assess the risks of material misstatement of the financial statements, wheiher due to fraud or error, and then design and perforn) the audit procedures re5ponsiv¢ to those risks, including obtaintng audit evidence that is sufficient and appropriate to provid¢ a basis for our opinion. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following: The nature of the industry and sector, control environment and charity's financial results and position. Results of our enquiries of management about their own identificalion and assessment of the risks of irregularities. Any matters we identified having obtained and reviewed the group and parent charitabl¢ company's documentation of their policies and procedures relating to: Identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance; Dctecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; and The internal controls eslablished to mitigate risks of fraud or non-compliance with laws and re8ulations: The matters discussed among the audit engagement t¢am regarding how and where fraud might occur in the financial statements and potential indicators of fraud. As a result of these procedures, w¢ considered the opportunities and incentives that may exist within th¢ group and parent charitable company for fraud and identified the greatest potential for fraud in revenue recognition. In common with all audits under ISAS (UK), we are also required to perforni specific procedures to respond to the risk of management override. We also obtained an understanding of the Icgal and regulatory frameworks that th¢ group and parent charitable company operates in, focusing on provisions of thosc laws and regulations thai had a direct effect on the d¢tem)ination of material amounls and disclosures in the financial statcments. The key laws and regulations we considered in this context included Charity l¢gislation applicable to Northern Ireland, Charity's governing document and local tax legislation. We also obtained an understanding of th¢ le8al and regulatory frameworks that the Charity operates in, focusing on provisions of those laws and regulations that had a direct effect on the deterniination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in ihis context included Charity legislation applicable to Northern Ircland. Charity's governing do¢ument and local tax le8islation. 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 to the group and parent charitable company's ability to operate or to avoid a material penalty. 13

Open House Festival Limited (A company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF OPEN HOUSE FESTIVAL LIMITED (a ¢ompany limiled by guarantee) (conllnued) YEAR ENDED 31 MARCH 2023 Audlt response to risks Identified Our procedures to respond to risks identified include the following: R¢viewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations describcd as having A direct effect on ihc financial statements. Enquiring of management concerning actual and potenlial litigation and claims. Perfomi ing analytical procedures to identify any unusual or uncxpected relationships that may indicate risks of malerial misstatement due lo fraud; Reading minutes of meetings of those charged with governance and reviewing coffespondence with tax authoriti¢s' and In addr¢ssing the risk of fraud throu8h management override of controls, testing the appropriateness of joumal entries and other adjustments; asscssin8 whether the judgements made in making accounting estimates are indicative of a polential bias; and evalualing th¢ business rationale of any significant transactions that are unusual or outside the nornial course of business. We also communicaled relevant identified laws and regulations and potential fraud risks to all engagement teams members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout th¢ audit. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial stst¢ments even though w¢ have properly planned and perfornied our audit in accordance with auditing Standards. In addition, as with any audit, there remains a higher risk of non-detection of irregularilies, as they may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventin8 non- compliance and cannoi be expected to delect non-compliance with all laws and regulations. A further description of our responsibilities is available on th¢ Financial Reporting Council's website at res onsibilities. This des¢ription fonns part of our auditor's report. 14

Open House Festival Limited (A company limited by guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF OPEN HOUSE FESTIVAL LIMITED (a company limited by guarantee) fconlinued) YEAR EIYDED 31 MARCH 2023 Use of our report This ￿Port is made solely to the charitable company's truslees, as a body, in a¢¢ordance with in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken go that we might state to the charitable company's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent pern)itted by law, we do not accept or assume responsibility to anyone other than the charitable company and ihe charitable company's members as a body, for our audit work. for this report, or for the opinions we have forni¢d. Nigel Moo A (Senior Statutory Auditor) for and on behalf ofGMeG BELFAST Chartered Aeeountant$ Slotutory Auditor Chartered Accountants & Statutory Auditor Alfred House 19 Alfred Street Belfast BT2 8EQ Is