GEORGE HAY & Company INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF THE ROYAL ULSTER CONSTABULARY GC- POLICE SERVICE OF NORTHERN IRELAND BENEVOLENT FUND Opinion We have audited the financial stslements of The Royal Ulster Conslabulary GC Police SeThice of Northern Ireland Benevolent Fund (the 'charitable company.) for the year ended 31st December 2022 which comprise the Statement of Financial Position, the Statement of Financial Activities (incorporating Income & Expenditure Account}, the Statement of Cash Flows and the notes to the financial statements, 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 Accounting Practice). In our opinion. Ihe financial ststements: give a true and fair view of the stste of Ihe charilable compary's affairs as at 31st December 2022 and of its incoming resources and application of resources, including its income and expenditure. for the year then ended. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. have been prepared in accordance with the requirements of the Companies Act 2006. and have been properly prepared in accordance with the Charities Act {Northern Ireland) 2008 and 2013 and the Charities (Accounts and Reports) Regulations (Northem Ireland) 2015. Basis for opinion We conducted our audit in accordance wrth International Standards on Audriing (UK) {ISAs (UK)) 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 charitable company in accordance viith the ethical requirements that are relevant to our audit of the financial ststements in the UK. including the FRC'S Ethical Standard, and have fulfilled our other 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. Conclusions relating to going concern In auditing the financial statements. we have concluded 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 uncertainties relating to events or conditions that, individually or collectively. may cast significant doubt on the entty's ability to continue as a going concern for a period of at leasl twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report. Other infomation The other information comprises the infonnation included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other infomation contained within the annual report. Our opinion on the financial statements does not cover the other infomiation and. except to the extent otherwise explicitly stated in our report. we do not express any fom of assurance conclusion thereon. Our responsibility is to read the other information and. in doing so. consider whether the other infomiation is materially inconsistent with the financial statements or our knovAedge obtsined in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine vthether this gives rise to a material misslatement in the financial ststements themselves. If. based on the work we have perfomied. we conclude that there is a material misstatement of this other infomation. we are ￿qUired to report that fact. We have nothing to report in this regard. Page 9 GEORGE HAY & Company INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF THE ROYAL ULSTER CONSTABULARY GC- POLICE SERVICE OF NORTHERN IRELAND BENEVOLENT FUND {CONTINUED) Opinions on other matters prescribed by the Companies Act 2006 In our opinion. based on the work undertaken in the course of the audit: the information given in the trustees. report for the financial year for ￿th1¢h the financial ststements are prepared is Consistent with the financial statements. and the trustees. report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitsble company and its environment obtsined in the course of the audiL V￿ have not identified material misslatements in the trustees. 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 kepL or returns adequate for our audit have not been received from branches not visited by us. or the financial ststements are not in agreement wilh the accounting records and returns: or certain disclosures of trustees, remuneration specified by law are not made" or we have not received all the inforniation and explanations Ive require for our audit: or the trustees V￿re not entitled to take advantage of the small companies. exemptions in preparing the trustees, report and from the requirement to prepare a strategic reporL We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 requires us to report to you if, in our opinion: accounting records have not been kept in respect of the charity in accordance with the Charities Act {Northem Ireland) 2008. the financial statements do not accord with these records. or any information or explanation to which the auditor is entitled under Charities {Accounts and Reports) Regulations (Northern Ireland) 2015 has not been afforded to the auditor. Responsibilities of truslees As explained more fully in the Ststement of Trustees. Responsibilities set out on page 7. the trustees (who are also the directors of the charitsble company 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 trustees determine is necessary io enable the preparation of financial statements that are free from material misstatement whether due to fraud or error. In preparing the financial slatements. the trustees are responsible for assessing the charitable company's ability to continue as a going concem, disclosing, as applicable. mattern ￿lated to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the ¢haritsble company or to cease operations. or have no realistic altemative but to do so. Auditors, responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a %*thole are free from material misstslement. whether due to fraud or error. and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit Conducted in accordance with ISAS {UKI will always detect a material misstslement vthen il exists. Misststements can arise 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 tsken on the basis of these financial ststements. Irregularities. including fraud, are instances of non