Limavady Community Development Initiative Ltd Company Limited by Guarantee Independent Auditor's Report to the Members of Limavady Community Development Initiative Ltd Year ended 30th September 2022 Opinion We have audited Ihe financial statemenls of Limavady Communily Development Initiative Ltd (the 'charity'l for the year ended 30th September 2022 which comprise the statement of financial activitie5 (including income and expenditure account). stalement of financial position, statement of cash flows and the relaled noles, including a summary of significant accoLtnting policies. The financial reporting framework that has been applied in their preparation is applicable law and Uniled Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of I reland {Uniled Kingdom Generally Accepted Accounting Practice). In our opinion the financial slatemenls.. give a true and fair view of the state of the charity's affairs as al 30th September 2022 and of its incoming resources and application of resources, including ils 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. Basis for opinion We conducted our audit in accordance with International Standards on Auditing {UK} {ISAs (UKI) and applicable law. Our responsibilities under those standards are furtlier described in the auditor's responsibilities for Ihe audit of the financial stalements Section of our report. We are independent of the cliarity in accordance with the ethical requiremenls that are relevant to our audit of the financial s131emenls in the UK, including the FRC'S Ethical Standard, and the provisions available for small enlilies, in the circumstance5 set out in nolelo the financial statements, and we have fulfilled our other ethical responsibilities in accordance with Ihese requiremenls. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern 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 statements is appropriate. Based on the work we have perfom)ed, we have not identified any malerial uncertainties relating lo events or conditions that, individually or collectively, may cast significant doubl on the charity'5 ability lo ontinue as a going concern for a period of at least e1ve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the tTUStees wtth respect to going concern are described in the relevant sections of this report.
Limavady Community Development Initiative Ltd Company Limited by Guarantee Independent Auditor's Report to the Members of Limavady Community Development Initiative Ltd (connUed1 Year ended 30th September 2022 Other inforrnatlon The other information comprises the information included in the annual report, other Ihan the financial statement5 and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial slalements does not cover Ihe other Information and, except to the extent otheiSe explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements. our responsibilily is lo read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge oblained in the audit or otheiSe appears to be materially misstated. If we identity such material inconsistencies or apparent malerial misslatements, we are required lo determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there 15 a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companles Att 2006 In our opinion, based on the work undertaken in Ihe course of the audit: the information given in the trustees, report for the financial year for which the financial statements are prepared is consistent with the financial statements. and the trustees, report has been prepared in accordance with applicable legal requirements. Matters on whlch we are required to report by exceptlon In the light of the knowledge and understanding of the charity and ils environment obtained In the course of the audit, we have not identified material misstatements In the Iruslees, 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 u5., or the financial statements are not in agreement Vth the accounting records and returns., or certain disclosures of trustees, remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit. 10
Limavady Community Development Initiative Ltd Company Limited by Guarantee Independent Auditor's Report to the Members of Limavady Community Development Initiative Ltd (¢ontlnued) Year ended 30th September 2022 Responsibilities of trustees As explained more fully in the trustees. responsibilities slalemenl, the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied Ihat they give a true and fair view. and for such Internal control as the trustees determine is necessary to enable Ihe preparation of financial statements that are free from material mi551aternenl, whether due to fraud or eOr. I n preparing the financial statemen15, the trustees are responsible for assessing the charity's ability lo continue as a going concern, disclosing, as applicable. matters related to going concern and using the going concern basis of accounting unless the tru5t¢es eilher intend to liquidate the Gharity or lo cease operations, Dr have no realistic alternative but to do so. Auditor's responslbilities for the audit of the flnanclal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstalemenl, 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 is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Mi551atemenls can arise from fraud or error and are considered malerial if, individually or in the aggregate, they Gould reasonably be expected to influence the economic decision5 of users taken on the basis of these financial slatemenls. I rregularilies, including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities. oullined above. lo detect material misstatements in respect of irregularities, including fraud. The extent to vthich our procedures are capable of detecting irregularities, including fraud is detailed below.. Because of the inherent limitations of an audit. Ihere is a risk thal we will not delect all irregularities, including those leading lo a material misstalemenl in the financial statements or non-compliance with regulation. This risk increases the More that compliante vnth a law or regulation is removed from the events and transactions reflected in the financial slalements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment. forgery, collusion, omission or misrepresentation, As part of an audit in accordance wth ISAS (UK). we exercise professional judgment and maintain professional s¢epiicism throughout the audit. We also.. Identify and assess the risk5 of material misslatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive lo 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 one resulting from error, as fraud may involve collusion, forgery. intentional omissions, misrepresenlations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedure$ that are appropriate in Ihe circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. Evaluate the appropriateness of accounling policies used and the reasonableness of accounting estirnates and related disclosures made by the trustees. 11
Limavady Community Development Initiative Ltd Company Limited by Guarantee Independent Auditor's Report to the Members of Limavady Community Development Initiative Ltd (continued) Year ended 30th September 2022 Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainly exists related to Èveiils or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required lo draw altenlion in our auditor's report to the related disclosures in the financial slatemenl5 or. if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up lo the dale of our auditor's report. However, future events or conditions may cause the charity to cease to continue as a going concern. Evaluate the overall pre5entalion. structure and content of Ihe financial statements, including the disclosures, and whether the financial slalemenls represent the underlying transactions and events in a manner Ihal achieves fair presentation. We cornmunicate with those charged wilh governance regarding, among other matters, the planned scope and liming of the audit and signifiGant audit findings. including any significant deficiencies in internal control that we idenlify during our audit. Use of our report This report is made solely to the charity'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 slate to the charity's members those matlers we are required lo state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility lo 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 formed. Alistair Sterritt (Senior Statutory Auditor) For and on behalf of Donaldson & Thompson Chartered Accountants & statutory audltor 3 Limavady Road Londonderry BT47 6JU 29th June 2023 12