B.C.W. TRAINING LIMITED Donaghey Siockmon INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF B.C.W. TRAINING LIMITED Opinlon We have audited the financial slalemenls of B.C.VV. Training Limil¢d Ilhe 'society'l for the year ended 31 March 2021 which comprise the Statement of Comprehensive Income, the Balance Sheet. the Statement of Cash Flows and notes lo the financial slalements, including 8 summary of significant accounting policies. The financia reporting framework that has been applied in their preparation is applicable law and Unlted Kingdom Accounting Standards. including FRS 102 The Financial Reporting Standard applicablg the UK and Republic of Irsland {Uniled Kingdom GenerallyAecepted Accounting Pfaclice}. In our opinion the financial stalemenl8'. give a true and fair view of the slate of the stiuety's affairs a5 al 31 March 2021 and of its income and expenditure for the year then ended", have been properly prepared in aordanr with United Kingdom Generally knepted Accounting Practi¢e', and have b88n prepared in accordance with the requirements of the Co-operative and Communty Benefft Societie$Act INorth&m Ir818nd) 1969. Basi8 for oplnlon We conducted our audit in a¢cordance with International Standards on Auditing (UK) IISAS IUKII and applieable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial slaternents sfjclion of our report. We are independent of the soaety in accordance with the ethical requirements that are relevant to OLtr audit of the financi8151alem&nts in the UK, including the FRC'S Ethical Standard, and we have fulfillgd our other ethical responsibilities in accordance with these requirements. We believo that the audit evidence we have obtained is suff{ent and appropriate lo provide a basis for our opinion. Concluslons r•lating to golng concern In auditing the financial statements. we have conGluded that the directors, use of the going concern basis of accounting in the preparation of the fin8ncial statements is appropriate. Based on the work we have perfornied, we have not idenkn.fied any matsrial uncertainties relating to events or conditions that. individually or collectively, may cast signifi¢anl doubt on the company's ability b continue as going concern for 8 period of at leastVe1Ve months from when the financial st8temonts ere aulhorised for issue. Our responsibilities and the re$ponsibilities of the directors with respect to going concem are described in the relevant sections of thi8 report. othor Informallon Management are responsibl8 for the other infom18tion. The other infomation comprises the information included in the annual report, other than the financial stslemenls and our auditor's report Ihereon. Our opinion on the financial stslements does nol cover the other information and, except lo the extent otherwise explicitly slated in our report, we do not express any form of a58urance.¢onclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other infomalion and, in doing so, consider whether the other infomalion is materially inconsislenl wtrlh the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misslaled. If we identify such material incgnsistencies or appar&nl material misstatements, we are required lo detemiine whether the is a material misstalemenl in the financial slalements or a material misslalemenl of the other information. If. based on the work we have performed, we conclude that there is a material misstatement of thi5 Other infomalion. we are required lo report that fact. We have nothing lo Teport in thls regard.
B.C.W. TRAINING LIMITED Irwin . Donaghey . Siockmon INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF B.C.W. TRAINING LIMITED Matters on whl¢h we are rèquired to report by exceptlon In the light of the knowledge and understanding of the society and its environment obtained in the course ol the audit, we have not identified material mis8talemenls in the Committee of Managèment's Report. We havg nolhlng to report in respect of the following matters where the Co-operative and Community Benafit Societies Act {Northern Ireland} 1 %9 requires us lo repert lo you if, in our opinion.. proper books of account have not begn kept by the society in accordance with the requirements of the legislation., a salisfaclory system of control over transactions has not been maintained by the society in accordance with the requirements of the legislation,- the income and expenditure account to which our report relates, and the balance sheet ara not In agreement with the books of aecounl of the society., we have not obtained all the informatlon and explanations necessary for the putpo$es of our audit. Responsibllities of managemont A5 explained more fully in the Committee Df Management's Report, management are responsible for the prèparation of the fin2ncial statements and for being satisfied that they give a true and fair view, and for such internal control as management delemiine is necessary lo enable the preparation of finaneial ststements that are freo fmm material misstslemerlt, whether due lo fraud or error. In preparing the ffnancial 8talements. management are responsible for assessing the society's ability lo continue as a going concern. disclosing, as applicable, matters related lo going conrn and using the going COnM bas1$ of accounting unless management either intend lo liouidate the society or lo cease operations, or have no alislic alternative bul to do so. Audltorfs responsibillttes for the audFt of the financial statements Our objectives afe to obtain reasonable assuranee about whether the financial slalemenls as a whole are free from material mlsslatemenl. whether due lo fraud or error. and to issue an auditovs report that includes our opinion. Reasonable assuronce is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always dele¢l a materi81 mi851atemenl when it exi5ts_ 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 economlc decisions of US8TS taken on th$ basis of these financial statements. Irregularities, including fraud, are instances of non<ompliance with laws and regulations. We design procedures in line with our respon5ibilili8s, outlined above, lo delecl material misstatements in respect of irregularities, including fraud. The extent to which our produr@S are capable of detecting irregularities, including fraud, is deloiled below. Our approach lo identifying and assessing the risks of material mi8Statemenl in respect of IegUlarl11eS including fraud and non-compliance with laws and regulations, was as follows-. we identified the laws and regulations applicable lo the company through discussions with directors and other management. and from our commercial knowledge and experience of the industry., we assessed the extent of compliance with the laws and regulations identified above through making enquiries of managgment and inspecting legal correspondence.
B.C.W. TRAINING LIMITED Inmift - Donaghey Stockman INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF B.C.W. TRAINING LIMITED assessed the susceptibility of the Company's financial statements lo material mis3lalement. including obtaining an understanding of how fraud might occur, by.. making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual. suspected and alleged fraud.. considerin9 the intemal controls in plsce to mitigate rlsks of fraud and non.compliance wllh laws and regulations-, and performing analytical protsdures to identify any unusual or unexpected relallonships: testing joumal entries to identify unusual Irans8Ctions.' assessing whother judgements anij assumptions made in determining the a¢UntIng estimates were indicative of potential bias., nvestigating the rationale behind significant or unusual tran8aGtion8. In response to the risk of irregularities and non-compliance with laws and regulations, we d8signed pr¢xedures which included, bul were not limited to= agreeing financial statements disclosures lo underlying supporting documentation., reading the minutes of meetings of those charged with governance-, enquiring of management as to actual and potential Ittigation and claims., reviewing ¢orrespondence with HMRC, relevant iegulalors and the company's legal advisors. There are inherent lirnilations in our audit proeedures described above. The more removed laws and regulations afe from finanaal transactions, the less likely il is that we would become aware of non•compliance. Audng standards also limit the audit procedures required lo identify non-compliance with laws and regulations to enquiry of the directors and other managemont and thg inspection of regulatory and legal correspondence, if any. IAaterial misslalements that arise due to fraud can bg harder to detect than those that ari58 from error 8$ they may involve deliberate concealm8nt or collusion. A further deseriplion of our responsbi ilitie8 1$ available on the Fin?nckg1 Reporting Council's website aL https.'Il ww.frc.org.uklauditorsrespon$ibilities. This description fomis part of our audilof8 report. The purpo8e of our audlt work and to whom We owe our responsibilitles This report is made solely to the society's members, as a body. in aceordaneo with Secllon 43 of the C operative and Community Benefit Societies Act (Northem Ireland) 1969. Our audit work ha5 been undertaken so that we might stale to the society's members those matters we are required lo state lo them in an audilorfs report and for no other purpose. To the fullest extent pemitted by law, we do not aecepl or assume responsibility to anyone other than the society and the society's members as a body. for our audit worK for this report, or for the opinn$ we have fonned. Mrlon H Donaghay (Sonlor Statutory Audrtor) Forand on behalfof Irwln Donaghey Stocknian LLP Statutory Auditor 23r25 Queen Street COLERANE Co Londondery BT52 1BG 19 lknbgr 2021