CHARTERRO I¢COU¥TANTI Pagg 10 Coleralne Grammar School Independ•ntAuditor's Report to the Governors of Coleralne Grammar School Yearend•d 31st March 2024 Oplnlon We have audited the flnancial slaternents of Coleralne Grammar School for the year ended 31stMarch2024, whlch comprise the Statement ol Flnanclal ActlvlUes IncludSng Income and expenditure account. 8alarKe Sheet, Statement of Cash Flows and Notes lo lh8 financlal statements. IrKluding a 8umrnary of significant accounting pollcles. The finan¢lal reporting frarnework that has been applled In ther praparatlon Is applicable law and the Unlled Klngdom Accountlng Standards (Unlted KI￿Orn Generally Accepted AccThJntlng Practice>, including FRS 102 'The Financial Reporting Sland8r(J applicable in the UK 8nd Republic of Ireland". In our opinion: the financial stat8ment$ give 8 true and falr view of Ihe state of Ihe School's affalrs as at 31 st March 2024 and of Its Incomlng fesources and appllcation of resources, including its Income and expenditure, for Ihe year then ended: Ihe financial statements have been properly prepared In acMrdance with the standards of aceountlng set by the D6p8rtment of Education f¢r Voluntary Grammar Schools; the flnanclal siatements have been proporEy prepareil in accordance wllh United Kingdom Generally Accepted Accounting Practlce; lh8 fFnanclal 8talements have been prepared In accordancè with the requlrements of the Clynpanles Acl 2008; oper accounting record8 have been kepl by the School throughout Ihe relevant perlod; the School's vthole system of internal controls in Ihe relevant financial period, were such as to Comply with the obligations placed on the Board of Governors by lh6 D•partmenl of Education and we have nol Identlfied any SIgn￿lcan1 weaknesses; grants made by the Deparlmenl of Education and funds from other resourGes reported In the relevant flnanclal perlod. have been applied In acLofdance wllh the Financi* Memorandum and any other terms and requlrements attached to them; penslon deductions rnade by the School In Ihe relevant financlal pericyj, have been calculalgd correclly and have been pakl over as requlred., ar the infoimatlon glven In the Board of Govemorfs report Is ¢onststent wth the financlal slalements. Allrol H(>we tury Hou 40Cr¢rnl Bu•Deu Park U5BUXN 82GN 17 Mood￿111¢ Strr PQRTAWWN Ff28 DX 39w NR BElJkSTso 23PB Tel: +44(0)*89WJi li Vts: +44{oJ*89031 Orn Tel.. +44(0)¥89960 TJ ¥￿." +44(0)18 9260 16s6 Tel: +44(0)9838s3 98ot IILX: +4do)y8 3825 0293 cMLGtsatr•￿ uwxrfCM¢CCmpUrdied RqNot4105966rk Pago 11 Coleralne Grammar School Independent Audltorfs R•port to the Governors of Col•raine Gramrnar School (conilnu•dJ Yaar onded 31st March 2024 Baslg for oplnlon We conducted our audit In accordance wlth International Standards on Auditing (UK) {ISAs (UK)) and ap￿￿￿ble law. Our responsibllities under those slandards are further described in the Auditor's responslbllllles for audit of the financial statements seclion of our report. We are independent of the School in accordance wlth the ethScal requirements that are relevant to our audit of the financial 8talements In the UK. Induding the FRC'S Ethlcal Standard and have fulfflled our olher ethlcal responslblllties In accordance with these requirements. We believe that the audit 8vid8nc8 we have oblaln8d is Suff￿lent arKI appropriate to provlde a basls for our oplnion. Conclu81ons relatlng lo golng ¢on¢•rn In auditing the financial stal8rnents. we have concluded that Ihe Govemors, use of the going concem basis of accounting in the preparation of the financial 8￿teMentS is appropriale. Based on the work we have performed, we have nol identified any material uncertalnties ralating to ov6ntS Of ￿r￿IllIOnS that. Indlvklually or collectively, rnay cast 5ignrficant doubl on the School's abllity to contlnue as a going concem for a period of al least trwelve monlhs from when the finan¢lal statements aré authofised for issue. Our respon8lbllSlle8 and the responslbllllles of the Governors with respect to gomig concern are descrlbed In thè relèvant section3 of this report. oth•r Inforniatlon The School's Governors are responsible for the other inforrnalion. The other Informalion comprises the Inlormallon In the annual report other than the financlal slaternents and our audltor's report therein. Our oplnlon on the flnanclal stalements does nol cover the other Informatlon and, 8XCOPt lo the extent othenyise explicilly stalod In our roport, we do not express any form of assurance condusion thereon. Our responsiblllty to read the olher infomiatlon and, in dolng so, consSder whelher the other Infom)atlon Is materially Inconsistent wlth the flnan¢lal slatemenls or our knowledge obtained in the course of the audit, or othe￿iSe appears to be mat8rially misslated. If we Identlfy such fftalerial incons5siencles or apparent materbal mlsstatemenls, we are required to deiermlr* whether this glves rlse10 8 malerial misstatement in the financlal slalements themselves. If, based on the work we have perfomied, w6 eon¢lude that there Is a material mlsstatement of Ihls other informatlon; we are required to report that fact. We have nothlng to rnport In thls regard. Oplnlon• on oth•r mattern prMcrlb¢d by Iho CompanlM Act 2006 In oplnlon, based on the work underlaken In Ihg coufse of the audll: the informalion gfven In the Governors, report incorporating the slrateglc report and the dlrectors, report for Ihe financial year for whlch the financial statements are prepared 1$ conslstent ￿th Ihe financial stalements,. and the strategtc report and Ihe direciors, report have been prepared In acttffdanco with applicable legal faqulrements. Page 12 Coleralne Grammar School Independent Audltor's R•port to the Governors of Coleralne Grammar School {con(Inu•dJ Year onded 31st March 2024 Mattèrn on whlch wo ar• raquliod to r•port by •xc•ptlon In the light of the knowledg8 and urlerstsndlng of the chari18ble company and its envkonment obtained in the course of the audlt, we have not Identified maierial misstatements in the strateglc report and the dir•cior3' repwl. We have nothing to rep(xt In respect of the following matters In Telatlon to whlch the Crjnpanies Act 2006 fequlrès us to report lo you If, In our oplnlon: 8dequ8te accountlng records have rM)t been kept, or ralums adequate for our audll have T￿t been recelved from branches not vlslted by us,. or the financlal slatements are not In agreement wlth Ihe a¢￿untIng records and retums; or certaln disclosures of dlrectors, remuneralion speclfi8d by law are not made: or we have not recelved aw Informatlon and explanallons we require for our audlt: or Ihe dlrector8 w￿e not entllled to prepare the financlal statements in accordance with the small companies, regime and take advantage of the smell cornpanles, exempllons In preparing tho dlrectOfS' report. R•8pon81bllltl•8 af Gov•rnor8 As explalne(I more fully In the Statement of Governors. Responslbililies, the Governors who are also Ihe dlreclors ol the School for the purpose of company law, are responBlble for Ihe preparatk)n of the finar￿la1 slatements and for belng satisfièd that they give a Irue and f8lr vlew, and for 8uch Internal control aB the Govwnor8 determine is necessary to enable the Preparation of financlal statemenls that are free from materlal mlsslatement. whether due lo fraud or error. In preparlng Ihe financial Slatements, the Governors are fesponslble for assessiffj the School's abillly to continue as a gowig concern, dlsclosing. as applicabb. maiters related to going concern and uslng the going concern basis of accounling unless the GoverrKXS intend to cease operations or have no r6allstic alternallve but to do so. Audltor'6 r•6pon$lbllltl•s for th• audlt of tho flnanclal stat•mont8 Our objectives to obtain reasonable assurance about whelher the Ilnanclal statements a6 a who18 are free from material misstatemenl, whether due to fraud or eTror. arHI Io issue an audilor's report thal IrKludes our opinlon. Reasonable assurance is a high level of assurance, but is rK•t a guaranlee Ihat an audit conducted in accordance wlth ISAS (UK) wlll 81ways delecl a ma¢erlal mis8latemenl when il exlsls. Mlsstatements can arise from fraud or error and are ¢onsldered fflaterialll, indivklually or in Ihe aggreoate, they could reasonably be expected to influence the economlc deoislons of users taken on the basis of th8s8 financial slalements. Irregularilies, inGludirvJ fraud, are Instances ol non-compliance wilh laws and re￿lationS. We deslgn procedure3 in Ilne wilh our responsibilities. outlinod above, to delect malerlal mlsstalements In respecl of Irregularfties, including fraud. Th& specific woc8dur8s for Ihls en9agement and the extent to whlch these are ￿Pable ol delecting irregularllies. Includlng fraud Is det811od below: Pago 13 Coleralne Grammar School Independent Audltor's Report to the Govemors of Coleraine Grarnmar School (¢onllnu•dJ Year ended 31st March 2024 Audttor's r•spon$lbllhle8 for the audlt ol Iho flnanclal Staternents {contlnu¢d) Extent to whlch the audil was eonsldèrad capabl• of d•tectlng Irregularltle8, 5ncludlng fraud We Identify and assess Ihe risks of maierlal mlsst8lemenl of the financial statements. whether due to fraud or error. and then deslgn and perform Ihe audlt procedures responsive to those risks, includin9 obtslning aLKlit evidence that Is suffi¢lent and approprlale lo provide a basls for our opinion. In Identlfylng and assasslng rlsks of materlal ml8slatem8nt In respect of Irrégularilles, Includlng fraud and non-comploance wSth laws and iegulatlons, we consld8red Ihe followlng.. The nature of the induslry and séctor, control environment charlty's flnandol results and posltlon: Results of our enqulrles of management about thelr own identificatlon and assessment of the rlsks of irregularilies., Any matters we identified having obialned and fevlewed the charty's documentallon of their pollcEes and procedures relating lo: Identlfylng, evaluallng and comptying with laws and regjlations and wheiher Ihey were aware of any instances of non-compliance; Detecting and respondirvJ lo the risk5 of fraud and whether Ihey have knowledge of any actual, 8uspected or alleged fraud,, and The Intemal controls established 10 mltlgate risk$ of fraud or non-compliance wllh laws and regulatir)ns,' The matlers discussed among the audll engag8menl team regarding how and where fraud mlghi occur In the financlal slalements and potenllal Sndlcators of fraud. As 8 result of these procedures, we considered Ihe Ihat Ihe particular areas Sn Ihe Ilnancial statements that were susceptible to mlsstatemenl were relaled to management bias in accounting eslimales and judgements; recognillon, da$5ifi¢ation and completoness of income. In common with all audiis under ISAS {UKI, we are also iequlred lo perform specific procedures to respond to the risk of management override. We also obtained an understandlng of Ihe legal arKI regulatory framoworks that the Sctrthl operates in, foGusir6 on provisions of those laws and regulalions thal had a dlrecl affect on the determlnalion of materlal amounts and dtsclosures in the financial statements. The key laws and regulallons we considered In this conlext Induded Charlty legislation and Companies Act 2006 appllcable to Northem Ireland. School's goveming dO(￿Men1, employmenl law, health and safety and tax legislallon. In addition, we consid•r¢d provision$ of other laws and regulallons Ihat do not have a dlrect effect or• Ihe financlal statements but compliance with which may be fundamental to lh6 School's abllbty to opwal8 or to avoid a malgrlal penalty. Pagg 14 Coleraine Grammar School Independent Audltor's Report to the Governors of Col•ralne Grammar School (¢onUnu•dJ Y•ar•nded 31st March 2024 Audlt rnspons• to rlsks Id6ntlfi¢d: Our procedures lo res￿)nd to rlsks Idenlified indude Ihe following: RevIew1￿ th8 flnanclal statements disclosures and tesfjng to Supp￿tIng documentation to assess compllance with provlsions of relevant laws and regulalions desfxlbed as having a direct effect orb the financial statements,. Enquiring of management con¢eming actual and potential liligation and daims; Performin9 analytical procedures to identify any unusual or unexpected relationships that may indicate risk of material misslalements due to fraud; Readlng minutes of meellngs of those charged with governance., In addresslng the risk of fr￿d through management override of controls, testing the approprfateness of journal entr168 and olher adjustments Including those relatlng to revenue recognlllon; assesslng whether the judgemenis made in making accounting estlmales are indlcalivÉ of potenllal blas- and evaluating Ihe rationale of any slgnificant transacllons that are large, unusual or outside the normal course of the School's activlties. We also communkaled relevant identified laws and regulalions and potentlal fraud rlsk8 to 811 en989ernent teams members and remalned alert to any indlcatlons of fr8ud or r￿n-cOmPlianC8 with law$ and regulatlons throughout the audlt. Owlng lo Ihe Inherent Ilmllatlons ol an audll, Ihere Is an unavoldable rlsk that we may not have detected some material misstatements In Ihe fina￿181 statements even though we have properly planned and perfomied our audlt in accordance wlth audilhg standards. In addition. as with any audit, thero remalns a hlgher risk of non-detection of Srregularlties. as Ihey rnay Involve colluslon. forgery, Intentional om￿510ns, mlsr8presentalions, or Ihe ovefride of Internal controls. We are not responsible for prevenling non4ompllanc8 2nd cannot be expecled lo delecl non-complianc8 wllh all laws and regulations. A further des¢ripiSon of our re8pon65blllt168 is available on the Flnanclal Reporting Council's webslle at t ;Ilvnvw.Irc uditorsr . Thls descrlplion forms part of our audltor's reporl. Page 16 Coleralne Grammar School Independent Audltofs Report to the Governors of Coleraine Grammar School (¢ontlnu•d) Year •ndod 31st March 2024 U•• of wr r•port Thls report Ss made solely 10 the Sch¢)ol's Governors, as a tsody. Our audit work has been undertaken so Ihal might state to the School's Govemors those matters w8 ar8 required to slate to them Sn an auditor's roport and for no othef purpose. To the fullesl extent permitte(I by law, we do not accepl or assume respon￿bIlIty lo anyone olher Ihan the School ar￿ the School's Govemors as a body, for our audlt work. for this report, or for the opinions we have fomied. gol Moo for and on b CA (S•nbor siatutory Audit¢r) If of GMCG Belfa81 Chartered Accountant• 8talutory Audltor Chartered Accountants & Slaiutory Audllor Alffed House 19 Alfred Street Belfast BT2 8EQ Oated: IE."17'