LCC COMMUNITY TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LCC COMMUNITY TRUST Opinion We have audited the financial statements of LCC Communty Trust (Ihe 'charity') for the year ended 31 March 2024 which comprise the statement of financial activities, the statement of financial position, the statement of cash fiows and notes to the financial statements, including significant 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 Iland (United Kingdom Generally Accepted AcGOUnting PraGtice). In our opinion, the financial ststements= give a true and fair view of the stale of the charttable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, induding its income and expendibJre, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi,. and have been prepared in accordance th the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with Intemational Slandards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit ol the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are levant to our audit of the financial ststements in the UK. including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe ihdl Ilie ciudit evideiibE we have obtained 15 Sufficient an(J 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 concem 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 doubl on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issu8. Our responsibilities and the responsibiltties of the trustees wth SpeCt to going concern are described in Ihe relevant sections of this report.
LCC COMMUNITY TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF LCC COMMUNITYTRUST Other infonnation The other information comprises the infomiation induded in the trustses annual report other than the financial ststements and our auditors report Ihereon. The trustees are responsible for the other infomiation contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent othewse expliciuy stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent wth Ihe finanaal statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially rnisslated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misststement in the financial statements themselves. If, based on the work we have perfomed, we condude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinlons on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of our audil.. the information given in the trustees, report for the financial year for which the financial statements are prepared, which includes the directors. report prepared for the purposes of company law, is consistent with the financial statements: and the directors, port induded within 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 charity and its environment obtained in the course of the audtt, we have not identified material misstatements in the directors. report included within the trustees, report We have nothing to report in respect of the following matters in lation to which the Companies Act 2006 requires us to report to you if. in our opinion. adequate accounting CordS have not been kepL or retums adequale for our audit have not been received from branches not visited by us,. or the financial statements are not in agreement wth the accoLtnting records and retums., or certain disclosuS of trustees, remuneration specified by law are not made.. or we have not received all the infom)ation and explanations we require for our audit- or the trustees were not entitied to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exempt.ons in preparing the trustees, report and from the requirement to prepare a strategic report.
LCC COMMUNITY TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF LCC COMMUNITY TRUST Responsibilities of trustees As explained more fully in the statement of tnJstees' responsibilities, the trustees, who are also the directors of the charity for the purpose 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 detemine is necessary to enable the preparation of financial statements that are free trom material misstatement, whether due to fraud or error. In preparing the financial stalemenls, the trustees are responsible for assessing the charity's ability to continue as a going concem, dlsclosing, as applicable, tnatter5 relaled lo going concem and using the going concem 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. Auditor's responsibilrties for the audit of the financial statements Our objectives are lo 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 auditorfs report that includes our opinion. Reasonable assurance is a high level of assuran bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material rf, indiwdually 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 instsnces of non-compliance with laws and regulations. We design procedures in line wlh our responsibilities, outlined above, to detect malerial misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detects'ng irregularikn'es, including fraud, is detailed below.
LCC COMMUNITY TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF LCC COMMUNITY TRUST Extent to whlch the audit was considered capable of detecting irregularities. including fraud We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those r(sks. including obtaining audrf( evidence that is sufficient and appropriate to provide a basis for our opinion. In identifying and assessing potential risks of material misstatement in respect of irregularities, induding fraud and non-compliances wth laws and regulations. we considered the following-. The nature of the industry and sector, control environment and business perfomance. including the charitable company's remuneration policies for directors, bonus levels and performance targets, if any. Results of our enquiries of management about their own identification and assessment of the risks of irregular5ties- Any matters we identified having obtsined and reviewed the charitable companys documentation of their policies and procedures relating to.. Identitying, evaluating and complying with laws and regulations and whether they were aware of any instance of non-compliance" Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud-. and The intemal controls established to mttigate risks of fraud or norFcompliance with laws and regulations., The matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and potential indicators of fraud. As a result of these procedures, we considered the opportunittes and inntiveS that may exist within the charitable company for fraud and identified the greatest potential for fraud in income recognition. In common wtth all audits under ISAS {UKI, we are also required to perfomi specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks that the charitable company operates in, focusing on provislons of those laws and regulations that had a direct effecl on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the Companies Act 2006. and local tax legislation. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance wth which may be fundamental to the company's abilty to operate or to a)rt)id a material penalty.
LCC COMMUNITY TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF LCC COMMUNITY TRUST Audit response to rlsks identified Our procedures to respond to the risks identified included the followng= Reviewng the financial statement disclosures and lesb.ng to supporting documentation lo assess compliance wrth provisions of relevant laws and regulations described as having a direct effect on the financial statements., Enquiring of management COnming actual and potential litigation and claims. Performing analytical procedures to identify any unusual or unexpeded relalionships that may indicate risks of material misstatement due to fraud., Reading minutes of meetings of those charged wth govemance and reviewing Corresponden with tax authorities., and In addressing the risk of fraud through rnanagemenl overnde of controls, tesling Ihe appropriateness of journal entries and other adjustments-, assessing whether the judgements made in making accounting estimates are indicative of a potential bias., and evaluating the business rationale of any significant transadions that are unusual or outside the normal course of business. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indirAtions of fraud or non<ompliance with laws and regulat.ons throughout the audit. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some rnaterial rni551atemeiils in the financial statemerrts, even though we have properly planned and performed our audit in accordance with auditing standards. In addition, as with any audit, there remains a higher risk of non-detedion of irregularities, as they may involve collusion, forgery, intentional omissions, misrepresentations, or the override of intemal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non- ompliance wth all laws and regulations. A further description of our responsibilities is available on the Financial Reporting Council'5 website at.. https'.11 www.frc.org.uklauditorsresponsibilities. This description forms part of our auditols report.
LCC COMMUNITY TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF LCC COMMUNIThTRUST Use of our report This report is made solely to the charitable company's members, as a bJy. in accordan with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we rnight state to the charitaÈ4e company's members those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest exient permitted by law. we do not accept or assume responsibility to anyone other than the charitable company and the charttable companls members as a body, for our audit work, forthis report, orforlhe opinions we have formed. Mr Stephen Houston FCA {Senior Statutory Auditor) for and on behalf of GMCG Lisburn Chartered Accountants Statutory Auditor Century House 40 Crescent Business Park Lisbum BT28 2GN 10-