REI PORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF STRABANE COMMUNITY PROJECT Opinion We have audited the financial statements of Strabane Community Project (the 'cF.aritable company,) for the year ended 31 March 20?3 whicli comprise th¢ Stateineiit of Financial Activities. Ilie Balance Sliecl, Ilie Cash Flow Stalenient at)d noles lo the financial statements, including a summary of significant accounting policies. The fjnancial rcporling framework that has beeli applied in their preparation is applicable law and United Kingdom Accounting Staiidards (United Kii)gdom Generally Accepted Accounting Practice). In oiir opinion the financial stalemenls: give a true and fair view of the slate of the charitable cornpany's affairs as at 31 March 2023 and of its incoming resources 2nd application of resources, including its income and expenditure, for the year then elided. have been propcrly prepared in accordance with United Kingdom Generally Accepted Accouiiting Pra¢lice: and have been prepared in accordance witl) Ihe requirements of the Coinpanies Act 2006. Ba515 for oplnlon We coiiducted our audit in accordance with International Siandards on Audiling (UK) (ISAS (UK)) aiid applicable law. Our responsibilities under those slandards are furtber described in th¢ Aiiditors, responsibiliti¢s for the audit of tlie financial staleiiienls sectioii of our report. We are independent of the cl)arilable cornpaiiy in accoi'dance with the ethical Irquiremei)Is thlll are rclevant to our audit of tlie financial statements in the UK. iiicluding the FRC'S Ethical Siaiidard, and w¢ Iiave fulfilled our other ethieal responsibilities in Jccordance with ihese requiremenls. We believe that tl)e audit evidence we Iiave obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relating to going con¢¢rn In aiidilii)bT the finllncial stalemenls. we have concluded that th¢ trustees, use of Ihe gJiiig concern basis of a¢countiiig in Ihe pi'¢paYation of the financial statements is appropriate. Based on the work we have perfoned. we have not identified any material uncertainties relaiing to events or Coiidilioiis that, individually or colleclively, may cast significant doubt on the cliarilable compony'B abilily to continue as a &ioing concern for a period of at least twelve months from whcn the financi81 $18tements are authorised for isSUC. Our responsibilities and the responsibilities of the miste¢s with respect to goiiig concern are described iii Ilic Irlevant sections of tliis report. Other information The ISteeS are responsible for the other infom)ation. The other inforn)ation cornprises tlie infomiatioi) iiiclud¢d in th¢ Annual Repor¢ other than the financial slatemenls and our Report of Ihe Independent Auditors tliereon. Our opinion on the financial slalements does not cover the other iiiforniation and, except to the extent othenvise expljcitly stated in our report, we do not express any forni of assurance coiiclusion Ihereon. In connection with our audit of the financial statcments, our responsibility 15 to read the other infonnalion nnd. in doing so, consider whether the other inforn]ation is materially illconsislent with the financial statements or our kniowledge obtaiiied in the audit or othThise appears to be malerially misstated. If we ideii¢ify such material iiiconsistencies or apparent material n)is5tateni¢nls, we are required io delennine wheilicr this gives rise to a material misslalem¢nt in the financial stalemeiits themselves. If, based on the work we have perforn]ed, w¢ conclude that there is a material misstatoment of thi5 Other infoimation, we are required to report tliat fact. We hav¢ Iiothing to report in this r¢Eard. Opinions on other matters prescribed by the Companies Act 2(K16 In our opinion. based on the work undertaken in the coutse of the audit: the iThforniation Eiven in the Report of the Tnlstees for the financial year for which the financial slatemei)ts are prepared is coJ)sisteTrt willi Ilie financial statements. and the Report of the TTUStees has been prepared in accordance wilh applicable legal requirements. Page 5
REPORT OF THE IN'DEPENDENT AUDITORS TO THE MEMBERS OF STRABANE COMTrtUNITY PROJECT Matters on which iv¢ 2re required to report by exception In the light of tlic knowledge and underslanding of the charilable company aiid ils environinent oblaiiied in tlie course of tlie aiidit. we have iiot identified material misslalernenls in ihe Report of the Trustees. We have notliiiig to Teport in respect of the following matters where the Coinpanies Act 2006 requires us to report to you if, in our opiiiioii,. adequale accouiiling records have not been kept or returns adequate for our audit have iiot been received from braii¢lics not visited by us- or the finaiicial statements are not in agreement with Ihe accounting records alld returns. or ertaiii disclosures of lrnstees, reniuneTation specified by laiv are not rnade; or we liave not received all the inforniaiion and explanations we require for our audit. Re5ponslblliti¢s of trustees As explained niore fully iii the Siatement of Trustees, Responsibililies, thc trustees (who are also Il)e directors of the charitable company for the piitposes of company law) are responsible ftir the preparation of the financial statements and for beiiig satisficd that they give a twe and fair view. ld for such iiiternal control as the tntee$ determiiie is iiece55ary to enable the preparalioii of financial stalernenls that are free from material misslaleii)eiit, wliether due lo fraud or ¢n'or. In prepai'ing ihe financial statements, thc trusl¢¢s are rcsponsible for assessing the charitable company's ability to continue as a goiiig conceni, disclosing, as applicable. matler5 related lo going concern and usiiig the goiiig ¢oiiceni basis of accountiiig unlcss the trustees cither iiitci)d to liquidalc Ilic cliarilable con)pany or to cease operations, or l)ave no reulistic aliernalive bul lo do so. Page 6
REPORT OF THE INDEPEYDENT ALIDITORS TO THE MEMBERS OF STILIBANE COMMifNrrY PROJECT Our responsibilities for the audit or the finaneial statcments Our objectives are to obtain reasonable assurance about whether the financial stalements as a whole are free froin mateiial misslatemenl. whether due lo fraud or error. and io issue a Report of the Inoependent Auditors Ihat includes oiir opinion. Reasoiuble assurance As a high level of assurance but is not a guarantee that an audit coiiducted iii accordaiice with ISAS {UK) will alw8ys detect a material misstatement M,hen it exists. Misslalernents cai) al'is¢ from fraud or error aiid al'e considered iiiaterial if, individually or ITJ tlje aggregate, they could reasoiiably b¢ expecied lo influence Ilie ¢¢oiioinic decisioiis of users takei) on th¢ basl5 of these financial statements. The exteiit to which our procedures are capable of deteclillg iryegularities, including fraud is detailed below: We identify and assess th¢ risks of material rnisslatement of tlie financial slalen)eiits, wliether due ¢0 fraud or error. aiid then design and pei'forni audit pro¢¢dures rcsponsive to those risk& including obtaining audit evidence that is sufficient and appropriate to provide a basis foT our opinion. In identifying and assessing rssks of material misstatement in respect of irregularities, includin8 fraud and non-compliance Ivith laws ]d regulatioi)s. we considered the following: thc iiature of Ilie industy aiid sector. conlrol environmeiit and busiii¢ss perfonnaiice iiicluding the Cl)arity'S rtmuiieration policies, and its intcmal and exlernal pcrfonnance targets. results of Dur enquiries of management and other key person5 about thc Charity's o'wn identification and assessment of the risks of irreEularities. iiicluding those that may occur eiiher as a re5uLt of fraud or error, and niatlers we identified froni our review of ilie Cliarity's polioigs, procedures and intemal controls- aiid tlie matters discussed arnong the aiidit engagement team regarding pot¢nlial iiidicators of fraud aiid wh¢re it mi&ylil occur iii the financial statements. We also obtained an underslanding of the legal aiid regulatory frameNvork that the Charity operates in, focusiiig on provisioils of those laws and regulations that had a direct effect oil material aniouiils and disclosures iii tlie fiiianciAI stalenien15. The key laws and regulalions we considered in this coiitext included ilie UK Companies Act, pensions and lax legi.81ation, charity Icgislation together with provisions of other laws and regulations that do not have a direct effect on the financial staiemeiils, but compliance with which may be fuiidameiital lo the Clwity's ability to operate or to avoid a material peiialty. This included conditions of fui)ding from various bodics. From th¢ above procedures. and An Common with all audTts under ISAS (UK), we identified the disclosure of adjusting items as a key audit matter with respect to potential risk of fraud, particularly iii areas where managemei)t is required to exercise significant judgem1(. W¢ t&ilored our response to those ideniified risks to include enquiring of management concerning actual and potential litigatioii ai)d claims, perforniing analytical procedures to identify any unusual or unexpected relationships that rnay iiidicale risks of matcrial misslatemei)t due to fraud. and reviewing correspondence wilh HMRC aiid other regulatory bodies. In addressing the risk of fraud through management ovthride of controls, we tested the appropriateness of journal entries and other adjustmenls. assessed whether the judgements mad¢ in making accoujiting estimates are indicative of & potential bias,. and evaluated tlie business rationale of any significant transaclions that are unusual OT Outside tlic i)onn&l course of business, of which there were none. Wliilst our eiigagement team were fully briefed on the fraud risks and remained alert to any indication5 Of fraud or non-compliance witli laws and regulalions tliroughout the audiL we draw att¢nlTon to inhcrent limilatioijs ii) the Scope or audit procedures since fraud. by its nature, may involve delibernte concealment. misrepresentation or collusion. A fvrther description of our SponSIbl11t]es for the audit of the financial slatemei)ts is located on the Fiiiai)cial Reporting Couiicil's website at www.frc.OTg.uklaudilorsresponsibilities. This description foTms parl of our Report of the Iiidependenl Auditors. Page 7
RE* PORT OF THE EIDEPENDEI NT AUDITORS TO THE MEMBERS OF STRABANE COTrIMUNITY PROJECT Use ofour report This report IB made solely to the chariiable company's members, os a body, in accordan¢¢ with Cliapler 3 of Part 16 of Ilic Conipanies Act 2006. OUY attdit work has been undertaken so that we might slate lo Ihc cliaril&ble company's Lnenibers those matters we are required to stste to them in an auditors, report and for no oiher ?urpose. To ihe fullest exleiit pciThitled by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable compai)y' members as a body, for our &udit work, for this rOrt, OT for the opinions we l)ave fornied. MICHAEL BARNETT MICHAEL BARNETT (Senior Statutory AuditOT) for aiid oil behalf of McAleer Jackson Ltd Chartered Accountai)ts & Statutory Auditors Cliuycli Hous¢ 24 Diiblin Roud OMAGH Co. Tyione BT78 IHE Date: 15 December 2023 Page 8