The Welcome Organisation Company Limited by Guarantee Independent Auditor's Report to the Members of The Welcome Organisation Year ended 31 March 2024 Opinion We have audited the financial statements of The Welcome Organisation (th8 'charity'} for the year ended 31 March 2024 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, siat8ment 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 AGGepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the charity's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year Ihen ended,. have been properly prepared in accordance with Uniled Kingdom Generally Accepted Accounting Practice. hav8 been prepared in accordance wth the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS (UKI) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibililies 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 we have fulfilled our olher ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relating to golng concern In auditing the financial statements. we have concluded 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 iwelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant Sections of this report. 12-
The Welcome Organisation Company Limited by Guarantee Independent Auditor's Report to the Members of The Welcome Organisation (contlnued) Year ended 31 March 2024 other Infonnation The other information comprises Ihe infomiation included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information. Our opinion on the finanGial ststements does not cover the other information and, except to the extant 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 responsibility is to read the other information and, in doing so. consider whether the other infomialion is materially inconsistent with the financial slatements 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 detemiine whether there is a material misstatement in the financial statements or a material misstatement of the oth8r information. If, based on the work we have perfomied. we conclude that there is a material misstatement of this other InfoatiOn. we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit: the infomiation given in the dir8clors' report for the financial year for which the financial statements are prepared is consistent with the financial ststements,. and the directors, report has been prepared in accordance with applicable legal requirements. Matters on whl¢h we are required to report by exception In Ihe light of the knowledge and understanding of the charity and its environment oblained in the course of the audit, we have not idenlified 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 returns adequate for our audit have not been received from branches not visiled by us- or the financial ststements 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 ft)r our audit. or the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantsge of the small companies, exemptions in preparing the directors, report and from the requirement to prepare a strategic report. 13-
The Welcome Organisation Company Limited by Guarantee Independent Auditor's Report to the Members of The Welcome Organisation (continued) Year ended 31 March 2024 Responslbilities of directors As explained more fully in the direGtors' 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 give a true and fair view, and for such internal control as the directors 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 directors 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 concern basis of accounting unless the directors either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Audltor's responsibilities 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 assurance. but is not a guarantee that an audit conducted in accordan¢e with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or erTor and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users tak8n on the basis of these financial statements. Irregularities, including fraud, are instan5 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 lo which our procedures are capable of detecting irregularities, including fraud is detailed below: We oblained an understanding of the legal and regulatory framework applicable to the Company through enquiry of management, industy research and the application of cumulative audit knowledge. We identified tha following principal laws and regulations relevant to the Company - Companies Act 2006 and the Financial Reporting Standard 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 Ihe accounts, balances and disclosures within the financial statements which may be susceptible to rnanagement bias. Our understanding was obtained through review of the financial statements for significant accounting estimates, analysis of joumal entries, walkthrough of the key control cycles in place and enquiry of management. As part of an audit in accordance wth ISAS (UK), we exercise professional judgment and malntain professional sceplicism 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 mi55tatement resulting from fraud is higher than for one resulting from error, as fraud may involve Gollusion, forgery. intentional omissions, misrepresentations, or the override of intemal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. 14-
The Welcome Organisation Company Limited by Guarantee Independent Auditorfs Report to the Members of The Welcome Organisation (continued) Year ended 31 March 2024 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 Ihe going concern basis of acGounting 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 conGern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, rf such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditols report. However. future events or conditions may cause the charity to cease to continue as a going concem. 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 presentats'on. We communicate with those charged with govemance 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. Use of our report 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 auditols report and for no other purpose. To the fullest exienl 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 r8POrt, or for the opinions we have fomied. Michael Flannigan (Senior Statutory Auditor) For and on behalf of FEB Chartered Accountants Chartered accountants & statutory auditor Linenhall Exchange 1 st Floor, 26 Linenhall Street Belfast Northem Ireland BT2 8BG 24 October 2024 15-