Lough Neagh Partnershlp Llmlted Company Ilmlted by gu8rantee Independent audltorfs report to Ihe members of Year ended 31 March 2023 Oplnlon We have audited the financial Skiemonts of Lough Neagh Parlnership Limfted {the 'company? for the year ended 31 March 2023 which comprise the stsiemenl of income arKJ retan&l earnings. slatement ol financial position arMJ notes to the linancial stalemenls. induding a summary of significanl aOUntIng polictes. The financial reporting framework that has been applied in their preparation is applicable law and United lfjngdom Accounting Standards, including FAS 102 The Financial Reportiry Standard applicable in the UK and Republic of Ireland (United lfjngdom Generally Accepted AuntIng Pradice). In our opinion. the financial statements: give a true and fair view ol the stale of the companys affairs as at 31 March 2tr23 and ol its profit lor the year then ended: have been properfy prepared In aC[danCe wlth United lfjnwknm Generally Accepled thounling Praciico: and have been pPared in accordance wilh the requiremenis of the Companies Acl 2006. Basis for oplnlon We conducted our audit in accordance with Inlemational Standards on Au£frting (UK) (ISAS (UK)) and applicable law. Our resnSIbIlitieS under those SLqndards are further described in the auditofs responsibililies for the audit of the financlal statements seclron of our report. We are indeperKlerrt ol the company in accordance with the ethical requirements thal are relevant io our audit of the financial stsiernents in Ihe UK induding the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibililies in accordance wilh these reqU1MentS. We believe that the audit eviden we have oblained is sufficienl and appropriate to provide a basis for our opinion. Concluslons relallng to going concern In auditing the financial statements, we have conduded that the directors use of the going concem basi5 of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfomied, we have nol idenlified any material uncertainlies relati to events or conditions thaL individually or collectively. may cast signrficant doubl on the cx)mpan(s ability to continue as a going concem for a priod of at leasi e1ve monts from when the financial statements are authorised for issue. Our responsibilities and the resw)nsbi ilities of the directors wilh respect to going concem are descJibed in the relevanl sections of this reporL Other Informatlon The other informalion comprises the information induded in the annual report. other than the financial ststements and our authtorfs report Ihereon. The directors are responsible for the other infonnalion. Our opinion on the financial statements does not cover the olher information and, exL*pt to the extent otheThvise explicitty ststed in our report, we do not express any lorm of assurance condusion thereon. In connection with our audit of the flnancial statements, our responsibility is to read the other inlormation and, In doing so. consider whelher the other Inlomiation is materially inconsistent with Ihe financial statemenls or our knowledge oblained in Ihe audit or otherwise appears to be materially mlsstated. If we idenlify such material inconslstencies or apparent material misstaternents. we are required to determlne whether there is a maierial misslatemenl in the financial statements or a fftaterial misstatemenl ol the other information. If, based on the work we have performed. we conclude thal there is a fflaterial misstatemenl ol this olher Snlomiation. we are required to report that facL 13
Lough Neagh Parlnershlp Umlled Company Ilmlted by guaranlee Independem audlloffs repon io the members ol Year ended 31 March 2023 We have nothing io report in this regard. Oplnlons on Other matters prescrlbed by ihe Companles Acl 2006 In our opinion, based on the work undertaken in the course ol the audit: the information given in the directors, report lor the financial year for which the financial stalements are prepared is consistent with Ihe financial statements; and the directors. reFOrt has been prepared in accordance with applicle legal reqLNrements. latters on whlch we are required to report by exceptlon In the light of the knowledge and underStandij of the company and its erniironmenl oblained in Ihe course ol the audit. we have not identified material misslalements in the directors. report. We have nothing lo report in respect of Ihe following matters where the C4)mpanies Act 2006 requires us io report to you rf. in our opinion: adequaie accounting records have not been kep( or retums alequale for our audil have not been received from branches nol visited by us; or the finanaal Slatements are not in agreement the accounting records and the relums; or certain disclosures ol directors. muneratiOn specified by law are not made; or we have nol received all the information and explanations we require lor our audit: Of the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantsge of the small companies, exemptions in preparing the direciors. report and from the requirement to prepare a slrategic rewL Responsibilities of dlreclors As explatned more fully in the directors. responsibilities statemeni. the directors are responsible tor the preparation of the financial statements and for being satisfied thai they give a true and fair view. and lor such irrternal control as the directors determine is necessary to enable the prepar*ion of financial statements that are free from material missiatemenL whether due to fraud or error. In preparing Ihe financial statements. the direclors are responsible for assessing the company's ability to continue as a going concem, disclosing, as applicabl8. matters related to going concem and using the going concem basis of accounting unless the directors eilher intend to liquidate Ihe company or to cease operations. or have no realistic alternative but to do so. Auditorfs responslblllties lor the audit ol Ihe Ilnanclal statement Our objeclives are 10 obtain reasonable assurance aboul whether the financial slatements as a whole are free from material misststemenl, whelher due lo fraud or error. and 10 issue an auditorfs report Ihat includes our opinion. Reasonable assurance is a high level of assurance. but is nol a guarantee that an audit conducted in accordance with ISAS (UIQ will always detect a material misstatement when it exists. Misstatements can arise from (raud or error and are considered material rf. individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users laken on the basis of these financial statements. Irregularilies. including fraud, are instances of non-compliance with laws and regulalions. We design procedures in line with our responsibilities, outlined above. to delecl material fflisstalements in respect of irregularities. including fraud. The extent to which our procedures are capable ol detecting irregularities. including Iraud is deiailed below: 14
Lough Neagh Partnershlp Llmlted Company Ilmlted by guarantee Independent audttorfg reporl to the members of Lough Neagh Partnershlp Umlled (contlnued) Year ended 31 March 2023 As part of an audit in accordance wilh ISAS (UK), we exercise prolessional judgment and mainiain professional scepticism throughout the audiL we also.. Identity and assess the risks ol material misslatemeni of Ihe finarla7 statements. whether due to fraud or error. design and perform audit procedures responsive io 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 missialemenl resulting from fraud is higher than lor one resulting from error. as Iraud may involve collusion. forgery, intentional omissions. misrepreseniations, or the override of intemal control. Obtain an understanding of intemal conlrol relevant to the audit in order to design audit procEdures that are appropriate in Ihe circumstances. bul not for the purpose of expressing an opinion on the effectiveness of the intemal control. Evaluate the appropriateness of accounting polioes used and the reasonableness of accounting estsrnates and related (ftsclosures made by the directors. Conclude on the appropriateness of the directors use of the going concem basis of accounling and. based on the audit eviden obtained. whether a materia] uncertainty exists related to events or conditions Ihat may cast signifjcant doubt on the company's ability lo continue as a going concem. If we condude that a material uncertainty exists, we are required lo draw attenlion in our auditorfs report to the related disdasures in the financial slatements or, rf such disclosures are inadequate. to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our audilofs report HryNever. fulure events or conditions may (xuse Ihe cornpany to cease to continue as a going Goncem. Evaluate the overall presentation. slructure and content of the financial SLernents. including the disdosures, and whether the financial SL*ements represent the urKlerlying transactions and events in a manner that achieves fair presentstson. We communicate with those charged with governance regarding, among other matters. the planned scope and timing of the audit and significant audit firKJings. including any significant deficiencies in intemal control that we identify during our audit. 111429 Jerfery ogers FCA (Senior Statutory Auditor) For arKI on behalf of Phelan & Prescott River House Home Avenue Newry BT34 2DL Date=25th March 2024