Registered Number: IP00089 Charity Commission Number: 106083 HM Revenue & Customs Charity Number: XN46104
ROYAL ULSTER CONSTABULARY ATHLETIC ASSOCIATION LIMITED
Annual Report For the financial year ended 31 March 2023
ROYAL ULSTER CONSTABULARY ATHLETIC ASSOCIATION LIMITED
REPORTS AND FINANCIAL STATEMENTS
Contents
Page
Independent Auditor’s Report 2 – 5
1
INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF ROYAL ULSTER CONSTABULARY ATHLETIC ASSOCIATION LIMITED
Report on the Audit of the Financial Statements
Opinion
In our opinion, Royal Ulster Constabulary Athletic Association Limited’s group and parent charitable society’s financial statements (the “financial statements”):
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Give a true and fair view of the state of the group and the parent charitable society’s affairs as at 31 March 2023 and of the group and parent charitable society’s incoming resources and application of resources, and of the group’s cash flows, for the year then ended;
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Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”, and applicable law); and
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Have been prepared in accordance with the requirements of the Co-Operative and Community Benefit Societies Act (Northern Ireland) 1969, the Charities Act (Northern Ireland) 2008 and The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015.
We have audited the financial statements, included within the Annual Report, which comprise: the consolidated and parent charitable society statements of financial position as at 31 March 2023; the consolidated statement of financial activities (including income and expenditure account) for the year then ended; the consolidated cash flow statement for the year then ended; and the notes to the financial statements, which include a description of the significant accounting policies.
Basis for Opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (“ISAs (UK)”) and applicable law. Our responsibilities under ISAs (UK) are further described in the Auditors’ Responsibilities for the audit of the financial statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Independence
We remained independent of the group and parent charitable society in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, which includes the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities with these requirements.
Conclusions Relating to Going Concern
We draw attention to pages 22 and 23 in the financial statements, which indicates that the Group and Charitable Society is dependent on the funding of members and adequate banking facilities. As stated on pages 22 and 23, these events or conditions, along with other matters as set forth in the going concern note on pages 22 and 23, indicate that a material uncertainty exists that may cast significant doubt on the Group and Charitable Society’s ability to continue as a going concern and, therefore, that it may be unable to realise its assets and discharge its liabilities in the normal course of business. Our opinion is not modified in respect of this matter.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF ROYAL ULSTER CONSTABULARY ATHLETIC ASSOCIATION LIMITED (continued)
Reporting on Other Information
The other information comprises all of the information in the Annual Report other than the Financial Statements and our Auditor’s Report thereon. The Trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, accordingly, we do not express an audit opinion or any form of assurance thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If we identify an apparent material inconsistency or material misstatement, we are required to perform procedures to conclude whether there is a material misstatement of the financial statements or a material misstatement of the other information. 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 based on these responsibilities.
Based on our work undertaken in the course of the audit, the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 requires us also to report certain opinions and matters as described below.
Trustees’ Report
Under the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 we are required to report to you if, in our opinion the information contained in the financial statements is inconsistent in any material respect with the Trustees’ Annual Report. We have no exception to report arising from this responsibility.
Responsibilities for the Financial Statements and the Audit
Responsibilities of the Trustees for the Financial Statements
As explained more fully in the Statement of Trustees’ Responsibilities in respect of the financial statements, the Trustees are responsible for the preparation of the financial statements in accordance with the applicable framework and for being satisfied that they gave a true and fair view. The Trustees are also responsible for such internal control as they 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 Trustees are responsible for assessing the group and parent charitable society’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 liquidate the group and parent charitable society or to cease operations, or have no realistic alternative but to do so.
Auditor’s Responsibilities for the Audit of Financial Statements
We are eligible to act and have been appointed as Auditors under section 65(2) of the Charities Act (Northern Ireland) 2008 and report in accordance with the Act (including paragraph 6 of Schedule 6 to 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 misstatement, whether due to fraud or error, and to issue an Auditor’s Report that includes our opinion. Reasonable assurance is a high level of assurance, but it 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
INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF ROYAL ULSTER CONSTABULARY ATHLETIC ASSOCIATION LIMITED (continued)
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 irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
Based on our understanding of the group and parent charity/industry, we identified that the principal risks of non-compliance with laws and regulations related to failure to comply with UK tax regulations and adherence to health and safety requirements, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as the Co-operative and Community Benefit Societies Act (Northern Ireland) 1969, the Charities Act (Northern Ireland) 2008 and The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015. We evaluated the incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) by the Trustees and those responsible for, or involved in, the preparation of the financial statements, and determined that the principal risks were related to posting inappropriate journals to income. Audit procedures performed included:
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Discussion with management, including consideration of known or suspected instances of noncompliance with laws and regulations and fraud;
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Identification and testing of significant manual journal entries, including journal entries posted with unusual account combinations to income; and
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Assessing financial statement disclosures, and testing to support documentation, for compliance with applicable laws and regulations.
There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
A further description of our responsibilities for the audit of the financial statements is located on the FRC’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor’s Report.
Use of this Report
This report, including the opinions, has been prepared for and only for the parent charitable society’s Trustees as a body in accordance with section 43 of the Co-operative and Community Benefit Societies Act (Northern Ireland) 1969, sections 65 and 72 of the Charities Act (Northern Ireland) 2008 and regulations made under section 66 of that Act, Part 4 of the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 and for no other purpose. We do not, in giving these opinions, accept or assume responsibility for any other purpose or to any other person to whom this report is shown or into whose hands it may come save where expressly agreed by our prior consent in writing.
INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF ROYAL ULSTER CONSTABULARY ATHLETIC ASSOCIATION LIMITED (continued)
Other Required Reporting
Co-operative and Community Benefit Societies Act (Northern Ireland) 1969 exception reporting
Under the Co-operative and Community Benefit Societies Act (Northern Ireland) 1969 we are required to report to you if, in our opinion:
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A satisfactory system of control over transactions has not been maintained; or
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We have not received all the information and explanations we require for our audit; or
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Proper accounting records have not been kept up by the parent charitable society; or
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The parent charitable society financial statements are not in agreement with the accounting records.
We have no exceptions to report arising from this responsibility.
Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 Exception Reporting
Under the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 we are required to report to you if, in our opinion:
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Sufficient and adequate accounting records have not been kept;
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The parent charity financial statements are not in agreement with the accounting records; or
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We have not received all the information and explanations we require for our audit.
We have no exceptions to report arising from this responsibility.
Jonathan Ruddell Senior Statutory Auditor Ruddell & Company Chartered Accountants and Registered Auditors 16 – 18 Church Street
Dungannon
16 November 2023