TBF AND KL THOMPSON TRUST ids. chartered accountants INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF TBF AND KL THOMPSON TRUST Opinion We have audited the financial statements of TBF and KL Thompson Trust (the 'Charity'l for the year ended 5 April 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash llows and the notes to the financial statements. including a summary of significant accounting policies. The f1nancial 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 RepubliG ol Ireland (United Kingdom GenerallyAccepted Accounting Practice). In our opinion. the financial statements.. give a true and fair view of Ihe state of the charity's affair5 as at 5 April 2024 and of its incoming resources and application of resources. for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi￿,. and have been prepared in accordance with the requirements of the Charities Act (Northem Ireland) 2008. Basls for opinlon We conducted our audit in accordance with International Standards on Auditing {UK} (ISAS (UKI) and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for tho audit ol the financial statemenls section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the UK, including the FRC'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 basi5 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 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 lo continue as a going concem for a period of at least ￿e1ve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees wth respect to going concern are described in the relevant sections of this report. Other Information The other infonnation comprises the infomiation included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and 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 maler(ally 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 whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude 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. Matters on whlch we are requlred to report by exceptlon We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2015 require us to report to you if, in our opinion-. the information given in the financial statements 15 inconsistent in any material respect with the Trustees report., or sufficient accounting records have not been kept. or the financial statements are not in agreement with the accounting records., or we have not received all the information and explanations we require for our audit. TBF AND KL THOMPSON TRUST ids. chartered accountants INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF TBF AND KL THOMPSON TRUST Responsibilities of Trustees As explained more fully in the statement of Trustees responsibilities, the Trustees 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 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 Tru8tees 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 Trustees either intend to cease operations, or have no realistic alternative but to do so. Audltor's responsibilltios for the audit of the flnan¢lal statements We have been appointed as auditor under section 65121 of the Charities Act (Northern Ireland) 2008 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstalemenl, whether due to fraud or error, and to issue an auditor'5 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 (UK) will always delect a material misstatement when it exists. Misstatements 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. 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 identified the laws and regulations applicable to the charity through discussions with senior management and from our commercial knowledge We assessed the extend of compliance with the laws and regulations identified above Ihrough making enquiries of management We assessed the susceptibility of the company's financial statements lo material misstatement, induding obtaining an understanding of how fraud might occur by: making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud., considering the internal contro15 In place to mitigate risks of fraud and non-compliance with laws and regulations performed analytical procedures to identify any unusual or unexpected relationships investigated the rationale behind significant or unusual transactions In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to., agreeing financial statement disclosures to underfying supporting documentation discussions with those charged with governance There are inherent limitations in our audit procedures described. The more removed that laws and regulations are from financial transactions , the less likely it is that we would become aware of non-compliance. Auditing standards are also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence. Material misstatements that arise due to fraud can be harder to detect than those that arise from errors as they may involve deliberate concealment or collusion. A further description of our responsibilities is available on the Financial Reporting Counal's website at: https'.11 www.frc.org.uldauditorsresponsibilities. This description foms part of our auditor's report. TBF AND KL THOMPSON TRUST ids. Chartered accountants INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF TBF AND KL THOMPSON TRUST This report is made solely to the company's members, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015. Our audit work has been Ljndertaken so that we might State to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. L4n IDS Chartered Accountants LLP Chartèred Accountants Statutory Auditor 23125 Queen Street COLERAINE Co Londonderry BT52 1 BG IDS Chartered Accountants LLP is eligible for appointment as auditor of the Charity by virtue of rts eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.