The Welcome Organisation Company Limited by Guarantee Independent Auditor's Report to the Members of The Welcome Organisation Year ended 31 March 2023 Oplnlon We have audited the financial statements ofThe Welcome Organisation {the'chartty') forthe yearended 31 March 2023 which comprise the statement of financial activities {including income and expenditure account), statement of financial position, ststement of cash flows and the related noles, 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 AcUnting Practice). In our opinion the financial statements.. glve a true and fair view ofthe state of th8 charity's affairs as at 31 March 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then have been properly prepared in accordance wilh United Kingdom Generally Accepted Accounting Practice,. have been prepared in accordance wtlh the requirements of the Companies Act 2006. Basls for opinion We conducted our audit in accordance with Intemational Standards on Auditing (UK} {ISAs (UK)) and applicable law. Our responsibilities under those standards are fijrther described in the auditor's responsibilities for the audtt of the financial statements section of our report. We are independent of the charity in accordan with the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requiremenls. We believe that the audit evidence we have obtalned is sufficient and appropriate to provide a basis for our opinion. Conclusions relatlng to going concern In auditing the financial statements, we have conduded that the directors, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. 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 concem for a period of at least twelve months from when the financial ststements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concem are described in the relevant sections of this report.
The Welcome Organisation Company Limited by Guarantee Independent Auditorfs Report to the Members of The Welcome Organisation (contlnu8dJ Year ended 31 March 2023 Other Informatlon The other infomiation comprises the infomiation induded in the annual report, oth8r than the financial slatemenls and our auditorfs report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other infomation and, except to Ihe extent otherwise explicitly stated in our report. we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibilty is to read the other infomiation and, in doing so. consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or othemise 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 infonnation. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we ar8 required to report that fact. Wé hav8 nothing to report in this regard. Oplnlons on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the infonnation given in the directors, report for the financial year for which the financial statements are prepared is consistent with the financial statements- and the directors, report has been prepared in accordance vth 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 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 rf. in our opinion= adequate accounting records have not been kept, or retums adequate for our audit have not been reiVed fmm branches not visited by us., or the financial statements are not in agreement with the accounting records and retums., or certain disclosures of directors, remuneration specified by law are not made: or we have not received all the information and explanations we require for our audit., or Ihe directors were not entttled 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 stralegic report. 12-
The Welcome Organisation Company Limited by Guarantee Independent Auditorfs Report to the Members of The Welcome Organisation {continued) Year ended 31 March 2023 ResponsSbilities of directors As explained more fully in the directors. responsibilities statement. the directors (who are also the directors for the purposes of company law} are responsible for the preparation of the financial statements and for being satisfied that they gNe a true and fair view. and for such intemal control as the directors detemiine is necessary to enable the preparation of financial statements that are free from materfal misststement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the charity's ability to continue as a going concem, disdosing, as applicable, matters related to going concem and using the going concern basis of accounting unless the directors either intend to liquidate the charity or to cease operations, or have no realistic altemative but to do so. Auditor's responsibllities for the audlt of the financial statemonts Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from malerial misstatement. whether due to fraud or error, and to issue an audÈtorfs report Ihat 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 misstatement when it exists. Misstatements can artse 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 wtth laws and regulations. We design procedures in line with our responsibilities, outlined above. lo delect material misstatements in respect of iegUlar1ties, including fraud. The exient to which our procedures are capable of detecting irregularities. including fraud is detailed below: We obtsined an understanding of the legal and regulalory framework applicable to the Company through enquiry of management, industry research and the application of cumulative audit knowledge. We identified the following principal laws and regulations relevant to the Company - Companies Act 2006 and the Finanaal Reporting Stsndard applicable in the UK and Republic of Ireland {FRS 102). We developed an understanding of the key fraud risks to the entity (including how fraud might occur), the controls in place to help mitigate those risks, and the accounts, balances and disclosures within the financial statements which may be susceptible to management bias. Our understanding was obtained through review of the financial statements for significant accounting estimates, analysis of joumal entries, walkthrough of the key control cydes in place and enquiry of management. As part of an audit in accordan with ISAS (UK). we exercise professional judgment and maintain professional scepticism throughout the audit. We also: Identify and assess the risks of material misstatement of the financial statements, 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 intemal control relevant to the audit in order lo design audit procedures that are appropriate in the circumstances, but not forthe purpose of expressing an opinion on the effectiveness of the intemal control. 13
The Welcome Organisation Company Limited by Guarantee Independent Auditorfs Report to the Members of The Welcome Organisation (contlnue(Q Year ended 31 March 2023 Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. Conclude on the appropriateness of the directors. use of the going concem basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related lo events or condttions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude Ihat a malerial UnrtaInty exists, we are required lo draw attention in our audilorfs report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modrfy our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditorfs report. However, future events or conditions rnay cause the charity to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the financial slaternenls, 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 govemance regarding, among other matters, the planned scope and timing of the audit and signrfiGant audit findings, including any signfficant deficiencies in intemal control that we identfy during our audiL Use of our report Thls 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 worf( has been undertaken so that we might state to the charity's members those matters we are required to stste to them in an audttorfs 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 chartty's members as a body, for our audit work, for this report, or for the opinions we have foThed. Michael Flannigan {Senior Statutory Audtior) For and on behalf of FEB Chartered Accountants Chartered accountants & statLrtory auditor Linenhall Exchange 1 st Floor, 26 Linenhall Street Belfast Northem Ireland BT2 8BG 3 July 2023 14-