The James Kane Foundation
(A Company Limited by Guarantee)
Independent Auditors, Report to the Members of The James Kane Foundation
Opinion
We have audited the financial statements of The Jame5 Kane Foundation (the 'charttable company,) for the year
ended 31 May 2024 which comprise the Ststement of Financial Acttvities, the Balance Sheet, the Statement of
Cash Flows and the related notes, including a summary of signrfi¢ant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom Accounting
Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK
and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements=
give a true and fair view of the state of the charitable company's affair5 as at 31 May 2024 and of its
incoming resources and application of resources, including its income and expenditure for the year then
ended.,
have been propedy prepared in accordance with United Kingdom Generally Accepted Accounting
Practice,. and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable
lew. Our re3pon3ibilities under those standard5 are furthei d¥bLiibed in the Auditors, responslbllltles for the audit
of the financial statements section of our report. We are independent of the charitable company in accordance
with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom,
including the Financial Reporting Council's Ethical Standard, and we 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 performed. we have not identified any material uncertainties relating to events or
onditions that. individually or collectively, may cast significant doubt on the charitable companvs ability to
continue as a going concern for a period of at least Iwelve months from when the financial statements are
authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the
relevant sections of this report.
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The James Kane Foundation
(A Company Limited by Guarantee)
Independent Auditors. Report to the Members of The James Kane Foundation (continued
Other information
The other information comprises the information included in the Annual Report other than the financial
statements and our Auditors, Report thereon. The Trustees are responsible for the other information conlained
within the Annual Report. Our opinion on the financial statements does not cover the other information and,
except to the extent olherwise explicitly stated in our report. we do not express any fomi of assurance Conclusion
Ihereon. Our responsibility is lo read the other information and, in doing so, consider whether the other
information is materially inconsistent with the financial statements or our knowledge obtained 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 whelher thi5 gives rise to a material misstatement in the
financial slalemcnls thcmselves. If, based on the work we have performed, we GonGlude that there 13 a material
misstatement of this other information, we are required to report that fact.
We have nothing lo report in this regard_
Opinion 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 Ihe financial year for which the financial statements are
prepared is con51Stent with the financial statements.
the Trustees, Report has been prepared in accordance with applicable legal requiremersls.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charitable company and its environment obtained in the
course of the audit, we have not identified material misstatements in the Trustees, Report.
We have nothing to report in respecl of the following matters in relation to which Companies Act 2006 requires
us to report lo you if, in our opinion..
adequate accounting records have nol been kept, or returns adequate for our audit have not been
received from branches not visited by us- or
the financial statements are not in agreement with the accounting records and retLSms', or
certain disclosures of Trustees, remuneration specified by law are not made,. or
we have not received all the information and explanations we require for our audit., or
the Trustee5 were not entitled to prepare the financial slatements in accordance with the small companies
regime and tske advantage of the small companies, exemplions in preparing the Trustees. Report and
from the requirement to prepare a Strategic Report.
SUMER
l%OR I HER* IRELAWD
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The James Kane Foundation
(A Company Limited by Guarantee)
Independent Auditots. Report to the Members of The James Kane Foundation Icontinued)
Responsibilities of trustees
As explained more fully in the Trustees, Responsibilities Statement. the Trustees (who are also the directors of
the charitable company for the purposes of company law) are responsible for the preparation of the financial
stalements and for being satisfied that they grve a true and fair view. and for such internal control as the
Trustees determine is necessary to enable the preparation of financial statements that are free from material
misslatement, whether due to fraud or error.
In preparing the fi'nancial statements, the Trustees are responsible for assessing the charitable company's ability
to continue as a going concern, disclosinq, as applicable, matters related to going concern and uqino the going
concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease
operations, or have no realistic alternative but to do so.
Auditors. responsibilities for the audlt of the financlal statements
Our objectives are to obtain rcasonable 833urance about whether the financial staterTIEnt5 as a whole are free
from material misstatement, whether due to fraud or error, and to issue an Auditors, Report that includes Dur
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance wilh ISAS {UK) will ahN?ys detect a material misstatement when it exists. Misstate￿en15 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 taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures
in line with our responsibilities, outlined above, to detect material misststements in respect of irregularities,
including fraud. The e*(ent to which our procedures are capable of detecting irregularities, including fraud is
detailed below-.
We considered the opportunities and incentives that exist Wtthin the organisation for fraud and identrfed the
greatest potential for fraud in the following areas, Management override of Controls and revenue recognition. We
discussed these risks with client management and designed audit procedures to respond to these risks by
testing a sample of journals posted throughout the year, and to test a sample of income items received during
the year.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including
those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk
increases the more that compliance WFth a law or regulation is removed from the events and transactions
reflected in Ihe financial statements, as we will be less likely to become aware of instances of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves
intentional concealment, forgery, collusion, omission or misrepresentstion.
A further description of our responsibilities for the audit of the financial statement5 is located on the Financial
Reporting Council'5 website at.. vMw.frc.or
.uklauditor5res
Auditors, Report.
onsibilities. This description forms part of our
SUMER
NOR TrtiRN IRELAI 140
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The James Kane Foundation
(A Company Limited by Guarantee)
Independent Auditors. Report to the Members of The James Kane Foundation (continued)
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part
16 af the Companies Act 2006. Our audit work has been undertaken so that we might slate to the charitable
company's members those matters we are required to state to them in an Auditors, Report 2nd for no other
purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than
the charitable company and its members, as a body, for our audit work. for Ihis report. or for the opinions we
have formed.
Amanda Mcmaw (Senior Slatutory Auditor)
for and on behalf of
Sumer Auditco Nl Ltd
Statutory Auditors
4th Floor
Glendinning House
6 Murray Street
Belfast
BT16DN
26 November 2024
Sumer Auditco Nl Ltd are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
SUMER
NeQ-: 4ERP%' lrfFL£4ND
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