ort of the Inde The Der endent Auditors to the Members of Diocesan Trust Fund for SiLk Priests Opinion We have audited the financial statements of The Derry Diocesan Trust Fund for Sick Priests (the 'company') for the year ended 31 December2023 which comprise the Statement of Financial Activities, Balance Sheet and Notes to the Financial Statements, including a summary of 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 Ireland, (United Kingdom Generally Accepted Accounting Practice), Charities SORP (FRS 102) and the Companies Act 2006. In our opinion the financial statements: give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its deficit for the year then ended; have been properly 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 law. Our responsibilities under those St(dardS are further described in the Auditors, responsibilities for the audit of the financial statements section of our rcport. We are independent of Ihe company in accordance with the ethical requirements that are relevant to 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 audil evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditiiig the tinancial statements, we have concluded that the directors, use of the going concern basis of accounting in the prcparation of the finanLial statements is appropriate. Based on the work we have perforn]ed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue a going conLern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
ort of the Inde The Der endent Auditors to the Members of Diocesan Trust Fund for Sick Priests Other information The directors are responsible for the other inforn]ation. The other infonnation comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. Our opinion on the financial statements does not cover the other infomation and, except to the extent otherwise explicitly stated in our report, we do not express any forn] of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other infomiation and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our Iinowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detemiine whether there is a material misstatement in the financial statements or a material misstatement of the other infonnation. If, based on the work we have perforn]ed, we conclude that there is a material misstatement of this other inforniation, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Aet 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the Report of the Directors for the financÉal year for which the financial statements are prepared is consistent with the financial statements; and the Report of the Directors 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 company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. We have nothing to report in re.spect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept, or returns adequate for our audit have not been reccived from branches not visited by us. or the financial statements are not in agreement with the accounting records and returns. or certain disclosures of directors, remuneration specified by law are not made; or we have not received all the inforniation and explanations we require for our audit. or the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemption from th¢ requirement to prepare a Strategic Report.
ort of the Inde The Der endent Auditors to the Members of Diocesan Trust Fund for Sick Priests Responsibilities of directors As explained more fully in the Statement of Trustees, Responsibilities set out on page six, the directors 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 directors deterniine 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 directors are responsible for assessing the company's ability to continue as a going concem, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. Auditors, responsibilities for the audit of the financial statements Our objectives are to 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 a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assuranc¢, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect 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. 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 misstatements in respect of iegUlar1ties, including fraud. The extent to which our procedures are capable of detecting legUlarLtLes, including fraud is detailed below: Based on our understanding of the company and the environment in which it operates, we detemiined that the principal risks were related to the valuation of the charity, s investments and the recognition of income and expenditure. Audit procedures perforn]ed by the engagement team included: Inspection of documentation regarding the valuation of investments Perfonning audit work regarding the risk of management bias and override of controls, including testing of journal entries and adjustments, for appropriateness Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description fornis part of our Report of the Auditors.
ort of the Inde The Der endent Auditors to the Members of Diocesan Trust Fund for Sick Priests A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. Use of our report This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's membcrs those matters wc are required to state to them in a Report of the Auditors and for no other purpose. To the fullesl extent pcrn]itted by law, we do not accept or assume rcsponsibilily 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 forn]ed. Niall McAteer (Senior Statutory Auditor) for and on behalf of Shaun McAteer & Co. Ltd 5 Northland Road Derry Co. De BT48 7HX REOISTÉRED 23 MAY 2024 AUDITORS ftoAO.DeffO Date: 23 May 2024 10