D(i¢uSlgn Envew ID.. B6EE6cFB.87D842D2-B6DlA5cEB3BF53 w05paCe IDraperstownl Llmlted Con501idated flftancial staternents fN thè year ended 31 March 2023 Page g Independent audltors, report to the members of Workspace {Draperstown) Limlted Opinlon We have audited the consolldated ffinancial statements of Workspace (Draperstown) Limiied (the 'Parent Company'l and Ils subsidiarie5 (the 'Group') for the year ended 31 March 2023 which comprise the Con501idated Statement of Financial Activities and Statement of Comprehensive Income. the Group and Company's Statement of Finand31 Posltlon. the Consolidated Statement of Cash Flows. the Consolldated Statement of Changes in Funds and ihe related note5. The finanual reporting framewofk that has been applled In their preparation is applicable law and United Kingdorn Accovntin8 Standards, including Financial Reportin8 Standard 102 The Finoncial Reporting Standord opplicable in the UK ond Aepubjic ol Ireland (United Kingdom Generally Accepted Accounting Practice). In our oplnion the consolldated f Inancial statements: give a true and fair vlew of the state of the Group's and Parent Cornpany's aff31rs as ai 31 March 2023 and ol the Group's ¢ncominB resources and application of resources including Its income and expenditure and cash flows for the year then ended. have been properly prepared in accordance with Generally Accepted Accounting Practice in the United Kin8dom and FRS102: and have been prepared in accordance wlrh the requlrements ofthe Companles Act 2006. Ba515 foropinion We Conducted our audit in accordance wlth International Standards on Auditing IUK} IISAS IUKII and applicable law. Our resp.onsibllitles under those standards are further described in the Auditorfs responsibllltles for the audii of the financial statements section of our report. We are Independent of the Group and Parent Company Sn accordance with the ethical requirements that are relevant ro our audit of the finandal statements in the UK, includin8 the FRC'S Ethical Standard and we have fulfilled oui other eihlcal responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficlent and appropriate to provide a basls for our opinion. Conclusions relating to going concern We have nothin8 to report In respect of the following mètters in relation to which the ISAS IUKI requlre us to report toyou where: the Trustees, use of the going concern basi5 of accounting in the preparation of the financl31 statements is not appropriate: or Ihe Trustees, have not disclosed in the finanoal statements any identlfied material uncertainties that may cast sl8nifirant doubt about the Group's ability to continue lo adopt the going concern basi5 of accounting for a period of at least twelve months frorn the date when the finanoal Statements are authori5ed for issue. I.ASM
Docu5i9n Env8tOP8 ID: 88EE6CF8'.870B42D2S6DU1ASCEB3BF53 Workspace IDraper5towDI LlmFted Consolidated financial slatements lor theyoar Ènded 31 March ZO23 Page IQ Independent auditors, report to the members of Workspace (Draperstown) Limited Other information The Trustees are responsible for the other Tnformatlon. The other information comprise5 the Information included In the Annual Report, other than the financlal statemenis and our audltorfs report thereon. Our opinion on the financial statements does not cover the other inlormation and, except to the extent otherwise explicitly stated in our report, we flo not expre55 any forrn of assurance eonclusion thereon. In connection with our audit of the finanoal statements, 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 knowled8e obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material mlsstatements. we are required to determine whether there is a material mi55tatement in the financial statements or a rnaterlal misstatement ol the other information. If. based on the work we have performed, we conclude that there is a material misstatement of this oiher informatlon, we are requlred to report that fact. We have nothin8 to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our oplnion, based on the work undertaken in the course of the audit., the information given in the Strategic Report and the Tru5teES' Report for the financial year for which the rinancial statements are prepared Is consistent with the financial staternenrs- and the Strategic Report and the Tru5tees' Report have been prepared in accordance with ?pplicable legal requirements. Matter5 on which we are required to report by exception In the lighr of the knowledge and understanding of the Group and the Parent Cornpany and Its environment obtained in the course of the audit, we have not identified material misstatements included within ihe Strategic Report or the Trustees. Report. We have nothine to report in respect of the following matters in relatlon to which the Cornpanle5 Act 2006 require us toreport loyou if, in ouropinion.. adequate accounting records have not been kept by the Parent Company, or return5 adequate for our audit have not been recelved frcm branches not V15ited by u5,. or the Parent Company f inancial statements are not in agreement with the 3CCDunting record5 and returns,. or certain disclosures of directors, remuneration specified by law are not rnade: or we have not received all the information and explanations we reqvire lor our audit, /.ASM
' DVS19Th En¥eWe ID: B8EE6CFB-87DB4202-B60W1ASCEB3BF53 Workspace IDraperstownl Limited Con5011dated financlal statements lor the year ended 31 Mah 2023 Page 11 Independent auditors, report to the members of Workspace IDraperstown) Limited Responsibllities of TTUStee5 As explained more fully in the Trustee5' re5ponslbilities staternent, the Trustees are responsible for the preparation of the financial statements and for bein8 sailsfied that they give 3 true and falr view, and for such internal control as the Trustees determine 15 necessary to enable the preparation of financial statements that are free11om material mlsstatement. whether due to fraud or error. In preparlng the financlal statements, the Trustees are responsible for asses5in8 the Group's and Lhe Parent Company's ability to continue as a goinB Concern, discloslng, as applicable, matters related to goin8 concern and using the going concern basis of accountlng unless the members either intend to liquidate the Group or the Parent Company or to cease operations, or have no realistic alternative but lo do so. Auditorfs respon5lbilitie5 for the audit of the linanclal statements Our objectlves are to obt?In reasonoble a55urance about whether the financial statements as a whole are free from material mlsstatement. whether due to fraud or error, and to issue an auditor's report that includes our op5nlon. Reasonable assurance 15 a hlgh level of as5ur3nce. but is not a guarantee that an audit conducted in accordance with ISAS (United Kingdoml will always detect a rnaterlal misstatement when It exists. Mi55tatements can arise from fraud or error and are considered material if. individually Of in the aggre8ale, they could reasonably be expected to influence the economic decisions of users takEn on the basi5 of these finanaal 5ts1ements. A further description of our responsibilities for the audit of the financial staternentS is located on the FRC'S website at.'www.frc.org.uVavdiforsresponsibilities. This description forms part of our auditor's report. Irregularities. includlng fraud, are instances of non-compliance with laws and regulation5. We design procedures in line with our respDnsibilities. Outlined above, to detect material misstatements In respect of irregularities, including fraud. The extent to which our procedures are capable cf detecting irregularities, incl uding fraud, 15 detailed below. Based on our understandin8 of the Group and the environment in which it operates, we have identified the laws and regulations such as the Companies Act 2006 which have a direct impact on the financial statements, and considered the effect non-compliance with ihose laws and regulations might have on the financial statements. We considered the opportunities and incentives that may exlst within the Company for fraud and identified that the principal rlsks lor fraud arlse from: revenue recognition; management override of controls, posting unusual journals; and unusual estimaiion arnounts. As part of our audit procedure5 we discu55ed these risks with man3Bement, and performed audit procedures to identify the occurrence of such risks. There are inherent limitations in any audit procedure5 undertaken, and in parlicular the risk of not detectin8 a materi31 mlsstatement due to Iraud is hi8her than the risk of not detecting a maierial misstatement due to error. /.ASM
Docuslgn Envelopg ID.. e8EE6CFB.87D842D2.B6D5411ASCEB38F53 W¢rk$pace IDiaperstownl Lirnlted Consolldated Ilnan¢lal staternefflls for the year ended 31 Mar¢h 2023 Page 12 Use of our report This report is made solely to the Company's members, as a body. In accordance with Chapter 3 of Parl 16 of the Companles Act 2006. Our audit work has been undertaken so that we mi8ht state to the Company'5 members those Matters we are requlred to state to them In an auditor'5 report and for no other purpose. To the fullest extent permitted by law, we do not accept Of assume responsibility to anyone other than the Company and the Company's members as a body. for our audlt work, forthis report, or for the opinions we have forrned. O&cuSl•n•O ty: /VJ rf(ty 4980BCDÉOFWAC.- Michael McAlli5ter (Senlor Statutory Auditorl For and on behalf of: ASM IM) Ltd Chartered Accountants and Statulory Audltors The Dlamond Centre Markd Street Ma8heralelt IZ December 2023 I.ASM