NEWHILL FTRST STEPS CHtLDCARE CENTRE LTD 11 INDEPENDENT AUDITOR?S REPORT TO THE MEMBERS FOR THE YEAR ENDED 31 IktARCH 2024 Opinion We have audited the financial statements of Newhill First Steps Childcare Centre Ltd (the 'charity') for the year ended 31 March 2024 which comprise the statement of financial activities (including income and expenditure account), statement of financial position and the related notes, including a summary of significant accounting policies. The financial reporting framework that has bcen applied in their preparation is applicable law and the United Kingdorn Accounting Standards including FRS 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 stste of the charity's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; have been prepared in accordance with the requirements of the Companies Act 2006. B15 for opinion We conducted our audit in accordance with International Stsndards on Auditing (UK) (ISAS (UK)) and applicable law. Our responbibilities under those standards are further described in the auditor's responsibilities for thc audit of thc financial statements section of our rcport. We are indcpendent of the charitable company in accordance with the ethical requirem¢nts that are rclevant 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 audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to golng eoncern 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 ststements is appropriate. Based on the work we have perfonned, 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 to continue as a going concern for a period of at least twelve months from when the fEnancial 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. 10
NEWHILL ITTRST STEPS CHILDCARE CENTRE LTD INDEPENDENT AUDITOR*S REPORT TO THE MFMBERS FOR THE YEAR ENDED 31 TrLARCH 2024 Other information The other inforn]ation comprises the infonnation included in the annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other infonnation. Our opinion on the financial staternents does not cover the other inf0rn1ation and, except to the extent otherwise explicitly stated in our repo¢ we do not express any forn1 of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other inforn]ation and, in doing so, consider whether the oth¢r infomiation is materially inconsistent with the financial statcments or our knowledge 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 det¢rn]ine whether there is a material misstatement in the financial statements or a mat¢rial misststement of the other inforn]ation. If, based on the work we have perfonned, we conclude that there is a material misstatement of this other infonnation, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the compani Act 2006 In our opinion, based on the work undertaken in the Lourse of the audit: the inf0rn1ation given in the trustees, report for the financial year for which the financial statcments are prepared is consistent with the financial statements; and the trustees, report has been prepared in accordance with applicable legal requirements, Matters on which we arc required to report by exceptlOD In the light of thc knowlcdge and understanding of the Company and its environment obtained in the course of the audil, we have not identified material misstatem¢nts in the trustees, report. We have nothing to report in respect of the following matters in relation to which 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 received from branches not visited by us; or the financial statements are not in agreement with the accounting records and retums; or certain disclosures of trustees, remuneration specified by law are not made; or we have not received all the inforn]ation and explanations we require for our audit. or the trustees were not entitled to prepare the financial statements in accordance with the small companies, regime and take advantage of the small companies, exemption in preparing the trustees, report and from the requirement to prepare a strategic report.
NEWHILL FIRST STEPS CHILDCARE CENTRE LTD li INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS FOR THE YEAR ENDED 31 MARCH 2024 Responsibilities of trustees As explained more fully in the trustees, responsibilities statement, the trustees, (who are also the directors for the purposes of company law), are responsible for the preparation of the financial ststements and for being satisfied that they give a true and fair view, and for such internal control as the trustees detennine is necessary to enable the preparation of financial statements that are free from material misststemenl whether due to fraud or error. In preparing the financial statements, the trustees are rcsponsible for assessing the charitable company's ability to continue as a going concern, disclosing> as applicable, matters related to going concern and using th¢ going concem basis of accounting unless the trustees eithcr intend to liquidate the charitsble company or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of thc finanelal statements Our objectives are to obtain reasonable assurance about whether the financial ststements as a whole are free from matcrial misstatement, whethcr due to fraud or error, and to issue an auditor's report that includ¢s 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 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. Extent to which the audit was capable of dctecting irregularitics, including fraud Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or orror, and discussed these between our audit team members. We then designed and pcrforni¢d audit proccdures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion. We obtained an understanding of the legal and regulatory frameworks within which the charity operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. We assessed the required compliance with these laws and regulations as part of our audit procedure5 on the related financial statement items. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statemcnts but compliance with which might be fundamental to the charity's ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charity for fraud. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the timing and completeness of recognition of grant and contract income and major donations and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management and the Audit Committee about their own identification and assessment of the risks of irregularities, testing of a sample of transactions against the tenns of the funding agreements and the requirement of the Charities SORP (FRS102), sample testing on the posting of journals, reviewing accounting estimates for biases and reading minutes of meetings of those charged with governance. 12
EWHILL FIRST STEPS CHILDCARE CENTRE LTD INDEPENDENT AUDITOR*S REPORT TO THE MEMBERS FOR THE YEAR ENDED 31 MARCH 2024 Owing to the inherent limiLqtions of an audit, ther¢ is an unavoidable risk that we may not have detected some material misstatements in the financial ststements, even though we have properly planned and perforn]ed our audit in accordance with auditing standards. In addition, as with any audit, therc rcmained a higher risk of non- detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not r¢sponsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. 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.uldauditorsresponsibiliti¢s. This description fonns part of our Auditor's Report. We also communicated relevant identified laws and regulations and potential fraud risks to all audit team members and remained alert to any indications of fraud or non-cornpliancc with laws and regulations throughout the audit. As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for onc resulting from error, as fraud may involve collusion, forgery. intentional omissions, misrepr¢sentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of cxpressing an opinion on the cff¢ctiveness of the intemal control. Evaluate the appropriatencss of accounting policies used and the reasonableness of awounting estimates and related disclosures made by the trustees. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 13
NEWHILL FIRST STEPS CHILDCARE CENTRE LTD li INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS FOR THE YEAR ENDED 31 MARCH 2024 Use of our report This report is made solely to the charity's members, as a body, in aordanCe with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity'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 pernlitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have fornicd. }-• Hughes House 617 Churcb Street Banbridge BT32 4AA Paul Cummings (Senior Statutory Auditor) For and on behalf of Jones Peters Chartered Accountants and Statutory Auditors 29 November 2024 14