Belfast Exposed Photography Company Limltsd by Guarantee Independent Auditorfs Report to the Members of Belfast Exposed Photography Year endod 31 March 2023 Oplnlon Wo have audited the financial statements of Bewast Exposed Photography (the 'charity') for th8 y8ar 8nd8d 31 March 2023 which ￿n￿)￿se the statement of financlal activities (including incorne and expendltur8 aC￿Unt). statement ol finandal positlon and the relateil notes, including a summary of significant accounting policies. The fmanclal reporting framework that has been 8pplied in tholr preparation 18 applirAble law and Unlted Kingdorn Accounting Stand8rd3, including FRS 102 The Fknancial Reporting Standard applicable in the UK and Republic of Ireland (Unlted Kingdom Generalfyf AGcepted Accountlng Practice). In our opinion th8 flnancial 6tatem&nts', gtve o true and fair vlew of the state of the charty's affairs 08 at 31 March 2023 and of Its Incoming re80urce8 and applThtion of 188ources, includlng its in¢ome and eXP￿dIture, for Ih year then ended: have been proporfy prepared in accordan¢e wtth United Klngdom G•n8rally Acc8Med Accountlng Practlc8', have been prepared In accordance ￿th the requlrementB of the Compani88 Act 2008. Bas18 for oplnion We conducted our aud￿ In accordance with Intemational Stand8rd8 on Audftlng (UK) {ISAs (UK)) and applicable law. Our re8F)on81bllltie8 under th080 8tandard8 are fijrther descrlbed In the audltofs responslbllltles for the audit of the ffinanclal statement8 $8Ctlon of our reporL We 8ra independent of the Gherty In accordance wrth thé ethlcal requirements that are relevant to our 8udit of the financial Btatsments in the UK, includlng ihe FRC'8 Ethical Standard, ond we have fiJlfilled our othor ethlcal respon8ibilttles In accordance wkh these requirem8nt8. We belleve that th• audlt ¢vldonGe we have obtained is 8ufficient and approprfate to provide a basls for our opinion. Concluslon• relatlng to golng conc•m In 8uditlnp the ftn8n¢lal 8tatem8nts. we have concluded that the trustae8' use of the golng concern ba8ts of a¢countlng In the praparatlon of the financi818tatsments is appropriate. Based on the woFk we have perfomwd, we have not klentlfied any material uncertainti08 relatlng to vent8 or conditions that, Individually or collectivety, may cast 8ignlflcant doubt on tha chartty's abilty to contlnue as a going concern for a period of at least twelve months from when the financial statements are authori8ed for i88ue. Our re6pon8lbllltle8 and the re8pon8ibllltie8 of th• tru8tees with r88pect to golng ￿nCeffl arn da8¢rlbed In th• relevant Sections ol thi8 report. 19- Belfast Exposed Photography Company Limlt8d by Guarantso Indepondent Audltorfs Roport to the Members of Belfast Exposed Photography Year ended 31 March 2023 Other Infomiatlon The other informatlon Gomprlses th8 Informatlon included in the annual report. other than ts financial statemenls and our auditorfs report thereon. The tru8tea8 are re8pon8lbl• for the other information. Our opinion on the financl818tat8ments doe8 not cover the other infomatlon and, ex￿pt to the extent otherwise explicitly stat&J in our report. we do not express any fomi of a￿Urance conclu8ion thereon. In connection with our •udit of the Ilnancial 8tstements, our respon31bilty is to read the other infomiatlon and, in doing 80, consider whether the other Informatlon Is materfally incon3i8tenl viith the finan¢ial 8tatement8 or our knowledge obtalned in the audit or otherwise appears to be material mtssLqted. If we identify $u¢h materlal Incon￿818n¢I&S or apparent material misstatements, we are requlrad to detennine whether there is a rnaterial mlsstat8meftt in the financial statements or a Material m1¥8tatsm•nt of the other Infomiation. If, bosed on the work we have perfoTmed, we conclude Ihat thero 1$ a material mi88tstement of this othér Info￿atIon, we are roquired to report that f&#. We have nothing to report in thi8 rfjgard. Oplnlon8 on other m4tt0rn pMGrfbod by th• Compan1•• Act 2006 In our oplnlon, ba8ed on the work undertaken In the courne of the audtt: the Informatbn glven In the trustees, report for the flnanaal year for which tha financial etatements are prep8r•J 18 con8lstent with the fin8ncial statements: and the tru8te88' roport h88 been pr8par•d In accordance with applicable lég81 r8qulrement8. Mattorn on whl¢h ￿ aro r•qulr•d lo r•port ty •xc•ptknn In the Ilght of the knowledge and under8tanding of the charny and its environment obtalnad In the course of thg audit, we have nol identified meterial mlsstatoments In the tru6tees' report. We have nothlng to report In respect of the following rnatters in r•lation to whlch the Companie8 Act 20C6 requires us to report to you If, In our opinion: adequate arxounting records have not been kept, or returns adequate for our audit hav? not ts￿n received from branche6 not vfslled by u8; or the financi81 statements are not in agreement wlth the accountlng records and returns; or certain di8clo$ure8 of trustees. rernuneratlon 8pecifl8d by law ar8 not made; OF wa have not recejved all the information and eXp￿natIonS we requlre for our audit., or the trustees were not entitled to prepare the financl81 statements In accordan(x wkh the sm811 compani86 regime and tsk8 advantage of the small Gompanles, exemption8 in preparing the directors, report and from the requlrernent to prepare a strategic report. Belfast Exposed Photography Company Limited by Guarant•8 Independent Auditorf8 Raport to the Membars of Belfast Exposed Photography Year ended 31 March 2023 R08pon81bllltlo5 of trustee8 AS 8xpl8ined more fulty In the trustees, responsbilities 8talamant, the truste88 (who are also the directors for the purpo888 of company law) 8r8 r8spon6ible for the preparatlon of the financlal statements and for belng satisfied that they give a ¢rue and fair view, and for Such intemal control 88 tha trustees determlne is nec8s88ry to enable the preparation of flnanctal statements that are free from material mi88tat8m8nt. whether due to fraud or ermr. In preparing the flnanclal statem8nt8, the tru8tee8 are responsible for o$se8sing the charws ab￿ty to continue a8 a golng concern, discloslng. as applicable. matter8 ralated to going Concern and usin9 the going concern b88is of accounting un1888 the Iru8tees elther Intend to liquidate the charity or to c888e operations. or havo no realietic aliemative but to do 80. Audltotr8 ro8ponslbllltl89 for the audlt of tho Ilnonclal •tstom8nts Our obJ•ctiVe8 are to obtain reasonable a88uranM about whether the financlal $tatemenl8 a6 a whole are fr88 from materi81 mis8tat8mant, whether due to fraud or error. and to18sua an auditorfs report that includes our opinion. Rea80nable assurance 18 8 hlgh level of assurdnce, but Is not 8 guarantee that an audlt conducted In accordance wbth ISA8 {UK) wll a￿￿y• detect a materlal mlsstalement when tt exi8ts. Mlsstatements can arise from fraud. or error and are con81d?red material rf, individualty OT In the aggregate, they could reasonabty be expected to influence the economic deci&lons of u8er8 18kan on the b8518 of these flnanckql statement8. Irregularitle8, Includlng fraud, are Instances of non-comp118nc8 wlth laws and regulations. We design prttedures in lin8 with our respon81blllttes, outfined abov8, to detect materlal mi88latemerrt8 In respect of Irwularitf•S, Includlng fraud. The extant to whlch our Fxocodure8 are c8pable of detecting regul8rltla8. including fraud 18 detailed bèlow. We obtalnad an under8tandlng of thè 18981 and r8gul8tory framawoth applicable to the Company through enquiry of management, Indu8try re8earch and the application of cumulative 8udii kn¢)wl8dge. We identtfied tha tslbwing principal laws and regulatk)ns relevant to th• Cornpany - Companie8 AGI 2006 and the Financial Reporting Standard applicable in the UK 8nd Republic of Ireland {FRS 102). We d•veloped an under8tarfdlng of the flaud risk8 to the antlty (In¢luding how fraud mlght occur), the contro18 in place to help mRlgate those rl8k8. and the accnunts, balances and dlsclosures wlthln the financial statements whiGh may be su8ceptlbla to management bia8. Our under8t8ndlng w88 obtalned through review of the fin8nclal 8tstements for signfficant accounting e8timate8. anaEy818 of Journ81 enlrie8, walkthrough of the key Control cycles In place and enquiry of management. As part of an audrt In accordan￿ wfth ISAS (UK), we exar¢i8e profe88ional judgment and malntain professlonal scepticism throughout the audit, We 8180.. Idantlfy and assess tha ri8k8 of material mi&8tatement of the flnancial statement8, whether due to fraud or error, deslgn and perfom audit procedures raspon8ive to th08e risks. and obtain audrt evtdence that 18 sufficlent and app￿priate to provlde a basis for our oplnlon. Th8 rlsk of not detectlng a material misststement resultlng from fraud is higher than for one r68u￿1ng from error, 88 fraud may involve colluslon. forgery. intentional omissions, misrepresentations, or tha ovarrlda of Intemal control. Obtsin an understanding of internal control relevant to the 8udtt In order to (Jeslgn audii procedures that are approprlate In the clr¢urnstances. but nol for the purpose af expre88ing an oplnbn on Ihe effectivene88 of the intemal control. Belfast Exposed Photography Company Llmlted by Guarantse Independent Auditorfs Report to the Members of Belfa8t Exposed Photography (eonJnueoJ Year ended 31 March 2023 Evaluate the appropriatenes8 of accounllng policies used and the reasonablene88 of accounting esttmates and related dS8d08ur88 made by the tru8t886. Cor￿lude on the appropriaten￿9 of the trustees, use of the golng concem b88iB of 8ccountlng and. based on the audlt evidenc8 obtained, whether a material un￿rtaInty ex49ts related to event8 or condrtions that may cast 81gnlficant doubt on the charty'8 abilty to contlnue as 8 gojng concem. If we conclude that a material uncertainty exlsts, we are required to draw attention In our audltott6 report to the related dlsckAure6 in the financial statements or, rf such d&clo8ure8 ar8 in8d8qUate, to modify Our opinlon. Our conclusions are based on the audtt 8vldance obtained up to the dat8 of our auditorfs report. However, future evénts or condltions may Gause the charty to cease to contlnua 88 8 golng concern. Evaluate the overall presentstlon, Btructurè and content of the ftnanclal 8tatements, including the di8Ct08ure8. and whether the financlal statements repro8ent the underlying tran8adions and •vent8 In a manner that achieve8 fair presentation. We communicete wlth tho88 charged with goveman¢e regarding, among thher matter8, the planned 8copa and tlmlng of the audlt and 8lgnltlcant audlt findlngs, kncluding any jlgntficant deficlencle8 In intemal control that we identify during our audrt. Use of our raport Thi8 report 18 made solety to the Gharitrfs members. 88 a body, in accordance with Chapter 3 of Part 18 of the CompanleB Act 2008. Our audit work has been undertaken so that we mlght 8tate kn the charwg members those rnatter8 we ar8 requtred to state to them in an audltof8 report and for no other purpo88. To the fullest extent pemiitted by law. we do not accept or assume responslblllty to anyone oth•r than the charKy 8nd th• charW8 membors a$ a body, for our audlt work, for Ihis Teport, or for the opinion¥ w• hav8 fomed. Mlchael Flannigan (Senior Ststutory Audftor) For and on behall of FEB Chartered Acwunt8nt Chartered accountants & Statutory auditor Llnenhall Exchange 18t Floor, 26 Llnenh811 Streat Belfast Northem Ireland BT2 8BG 28 Septamber 2023