Londonderry Innor Clty Trust Compafty Ilmltod by guaranto• Indap•nd•nl audltor' report lo th• nwrnb•r• ol Londondwry Inn•r Clty Trnsl (contlnul) Y••r •nd•d 31 March 2024 Oplnlon We have audil8d the linancial slalemenls of Londondorry Inner Cty Tfusl lor Ihe year ermded 31 March 2024 thich comprise the Consolidated Slalement ol Financial Actwities, Cornpany Statement ot Flnan¢ial Activities, Consolidalad Balanco Sheol, ConsolKlaied Stai8menl ol Cash Flows and noles lo the flnanc1 slatements, induding a summary of slgnilicanl accounting The flnanclal reportlng Iramework that has been •pFlled In t11 preparation applicablo law and Uniled Kingdom Ac<x)uffling Standards, Inrludkng FFIS 102 The Flnanclal ReportlTrJ sLard awlcablo In the UK arKI Republ ol Iraland {Unfted Klngdom Gon•raUy Acceptad Accountlw Pracllc8). In tsjr opnion, the finartial stat•mgnt8: give a true and lalr eW of the state ot the group's aThJ th• paronl company8 arfaifs as al 31 March 2024 and of tho group profft for the year thon endod. havo bo•n proporty prepared in accordance wilh Unilod Kingdom Gorwally Ac•od Accounllw Practice; and have be•n prepared in accordanco th the rwulromonts ol the Corrpanle$ Act 2006. B•81• lor Oplnlon We conducted our a11 in accofdance vrith Inlemalional Slarnlards on AudNlng IUKI IISAS IUKII ard applicablè law. I1 fesFX)nS)1Il1Ieg under those $tandards are furth6r d•xribed in the audllorf$ resF#Jnsibilrtl8S for Iho aLKIIi of the financial statem8nlS soc)ft ol our report. We aro IrKlopendoni ol tho company In accordanc8 whh the elhlcal roqulremonts Ihat aro ral•vant lo our audil of the linanclal 8tai8monts Sn the UK, ncluding lh8 FRC'$ Elt4Gal Standard, and we have lumilled our other 9th11 r8sponslbllllies In accordance with these requlrements. We bellove Ihal Ihe audtt evKI9 have Is sulllclenl and apyoprlalfr lo provwje a 13 lor our Opinion. Con¢lu•lon• r•l•tlng to golng conc•m In auditing Ihe linan¢i81 slatements, w8 have (x)nclud8d thal the dir6(aor8 U80 ol the goirKJ concom basi8 01 aCUntIng In the proparallon of tho flnanclal staiem•ni$ Is approal8. Based on Ihe work wg hav8 performed, we have rnl identiliod any material uncertainties relating to èvonis or condition8 thai, indivKlualty or colloctivolyi may cast Sn[liCan1 doubt on the Mmpanls abllity to continu& a8 a golng concorn lor a poriod ol al loast Iwelve months Ifom tn the finanrial statements are aulhorised lor 18$ue. Our roswnsibililies and the re8ponsibifrties of diroctar4 Imth rospocl lo golng corKem are descrlbed in th• rdevanl socllons of thi$ report. Othr Inlornmllon The other inlormaiion comprises tho information includad in the annual report. olher than Ihe linancial statements our audlior's report Ihereon. The dlieclors are responsbl8 lor the other Information. Our opinlon on the Ilnancial slatemenls does not cover iha other infomiation arml, expt to the oxlenl otherwise explicitly $laled in our r•port, we do noi express any lomi ol assura conclusion Ihoroon. In connection wlth our audit ol the flnancial 51atements, our responsitslty is to road the Ottr infomatton and, In dolno 80, conslder vknether iho oth•r Inlormaiion la rnaiorlalty Inconslsi8ni wlih the Tlnanclai ststomgnts or our knowledg8 obia1nl In tho audlt or othenvlso appoars to be MalaallY misstated. It we idèntify such materiat inconsistencles or apparent malerial misslalements, we are requlrod lo delerrnlne whethor there 1$ a fflat8rlal misslaiemeni in the linancial slatements Of a material misstatement ol tho oihor information. If, based on the work we have performed, we conclwle ihat ihere is a matèrial misslalemonl ol this olher inlormalion. we are required lo report that fact. We have thIng to rert In thls regard. P•g• 7
Londonthny Innor TNst Comp•Try Ilmllod by guarnnt•• Indapandènt audltorfs report to th• m•mber• ol Londondorry Inner Clty Trusl (¢onllnu•d) Year •ndod 31 March 2024 Matt•r¥ on whleh w• •f• roqulrod lo raport by •x¢•pJon Wo have nolhlrvj to r•KKJrt In respect of the folo¥AryJ rnattors th• CompAnl•¥ Aci 2006 requlres us io report to youll. In our opinion.. ad8quale accounting records hav8 not kept, or relums •Jequate fof audlt have nol rocefved Irom branches not visited by u8., or the flnancial stalamonts are not In agreomenl the acc records Iho returns; or cwtsln disclosures ol diroCtor8' remuneratlon sp8¢rfied by law ar¢ not made: or we have r1 received all th8 inlormation and axplanations we requlia lor our audrt; or the diraclors were not entitled lo prepare the fInar1 statements In a¢cordarKe th the small companies reglme and lake advantage ol tho 8mall companlos. exemptlon8 In preparlng tha dlrKlors' r8POrt and Irom the roquiremonl to prowe a slrategk r8wJrt. RMponglbllttl•• ol dlr•clor• As explalned more fuly Sn the dlrectors, r8sponslbllhioS Slalemonl, th• dfectorn aro responslble for the preparation ol the Ilnartial statements and lor beFng sailsfl8d that Ihey grrfe a true and fair vigw, and lor Such Internal control as the dirociors delermine is no¢essary lo enable the preparation of financi& Jtalement$ that aro Iroe trom merlal misstatemoni, whoih•r dua 10 IraLkd or 8rror. In preparlng the Ilnandal siatements, the directors are respon$lble for assessing the companys ablllty lo contlnue as a going concern, discloslng. as apFl1Cab, mattèrs related lo going Concern and using the 901 concern basls ol a¢¢ounling unless th8 diraclors either Inlend to liquidaie Ihe company or to cgas• oparallons, OT have no realistic aliernatNe bul to do so. Audltor'• r••ponbIlItl0 lor th• audlt of lh• IIMne1 •t•t•m•nls Our objectives ar8 lo obtain reasonable as8uranGe aix)ut whether the lknanclal 8lalements a$ a whole are Ireg Irom material misstatoment, whether due lo fraud or error, and to 188ue an auditor'8 report that includes our oplnlon, Reasonable assuran¢e 5$ a hh levd of assurance. txjl is not a guarantee that an audll conducted In accordance wtth ISAS (UK) will alway3 detect a Materi misstatement when It exists. Misstatements can arlse Irom Iraud or error and are con$ideied material if, indlvmlualty or in tho aggregate. Ih8y could reasonabty b8 expected to inlluence the economlc dgcislon5 crf usef5 laken on the t)asts of these linanclal slaiements. Irrogularliies. Includlng Iraud, arè instsnce8 of non<ompllaneg wlth laws and regulallons. We dgsign procedures in Ilne wlth our r6w)rrsitsllties. outlined above, to deteci material misslalemenls in rgspecl ol !rr8gulariUe$, Including fraud. The oxtont tt) whi¢h our wocedurns are capabkg Ot delectlng Irregularili86, Includlng fra1 Is detailed bek)w'. Idenlltylng and •ssa*slng pol•ntl•l rfgks rnl•led to lryul•rltle• In identifying and assessing risks ol material misslalemenl in respe¢l of irregulariti8$, including liaud and non-compilance Wlth laws aTrJ regulatlons we ¢onsldered folknwlng: the nalure of the industry and sector and conlrol envlronment lh• 18oal and rgoulawry Iram•wotk ale8t1•. th• r•8ull$ ol our •nquiri•s of managom•nt and oth•r k•y persons about Ihelr ¢7wn ld8ntlla1lOn and assessment of tho rfsks arrtl Irrepularllles Ihe Charity own policie3 and procedures on Comp1wn vrith laws and regulatlons including any Inslances ol nonryCoMI3nC9
Londond•rry Inn•r Clty Tru8t Comp•ry Ilmll•d by guarnntoe Indondon1 •udttorfs r•port to the mwnborn 01 Londonthry Inn•r Clty Trust {conthu•d) Yur •nded 31 M•r¢h 2024 Audlt rnspanM to rl** Id•ntlll•d.' As a r85uII ol p8rfomirvJ Ihe al)ove we klenlsfied and rIorMed the folk)wing procedures enquiry ol managomenl, Ihose thargad wilh governance around aciLwi and potential lilwalion and claims. enqulry ol enlty staff in complIaa lunctk)ns lo id•nlfy any instances of non<ompliance vlth Lgws and reoulatlons. Re09 flnancial statomant disclosuros and tosllryd to 8upwrtlng dwm8ntalion lo a8se88 CA)MlanCe wth appllcabla laws and roqulalions. Performlng analyiical procoduras to idantity any unusual or unexpociod rélation8hlps that may Indica18 rlsks ol mat8rial misstat8ment due to traud. Auditing the rlsk of management override of controls, Including throLwh iesling journal entries and olher adjuslrnents for approprlalenoss. ar#8 evaluating the buthass ralionalfr ol SignifnI transacllons outsid• the normal ¢ourso ol business As part ol an audlt In accordance wilh ISAS IUKI, we exerclso proleslional ludgm•nt and malntaln prolessional scepllcism thrOLhOUl the audit. also: Identffy and assess Ihe risks ol maierial mi$8latement of the financial slalemanls, wheihef duè to fraud or Offoi, desvJn and portorrn audit procedure8 responsive to those risks, and obtain audlt evKlence Ihal IB $ullicient and appffjpriaio 10 provido a basis lof our opinn. The risk ol r4Jl doiectlng a materfal misstatemenl resultlng from fraud is hKJher Ihan lor one resullino from error. as liaud may invofve collusion, forgery, Inlenliond omission$, mi$repr?$8ntatK)ns. or the ovefrkla ol Snlernai control. Obtain an undor8taDding ot intemal control rdevant to the audit In order to design audil procedures t1 ar8 approprkqle in the clrcumstances, but not lor tho pUfW ol •xpre85iNJ an oplnv)n on the elfg¢lN•nos5 01 tha inl8ind conlrol. Evaluate the approwialeness ol accouniiNJ p)liC$ used and the reasonableness of accounting o$1imalOS and felaled disclosures made by the direclors, Condude on th8 8pwopiial8n8SS Ot the diraclors use of ihe goin9 concern basis of accounlng and, based on the audll evidence oblainod, whelher a maierial unc•rlainty 8xisl$ rolaiod to Wonts or coThlltbn$ Ihal may casl slgnrfleAni doubl on tha company s th'lity to conllnue as a going concern. 11 we concluda Ihal material uncerlainly exists, we are rwuired to draw attanlion in our audilor's report lo Ihe related dlsclosures In Ihe financlal Sialemonl8 or, il Such d18dUreS ar8 inadequate, to modlly our oplnion. Our condusions are based on the audit ovidonce obtainod up lo the dale ol our audllor's report. However, lulure events or conditions may ¢au$a Ihe corpany to cease to contnue a$ a going ¢oncern. We communlcale wilh Ihosa charged governance regardlng, arnono olher matters, the planned scope and timing ol Ihe audli and snI11¢an1 audll li18, in¢ludirKJ any sKJnifKanl dollci6nclos In intamal control thal we klantity durlng our audit. Pag• 9
Londondorry Innw Clty Trust comnY Ilmll•d by guarnnl•• Inlkpendenl audliorf8 r•port to Ihe m•mbw8 Ot London(kny Inner Clty Tru81 (contlnu•d) Ymr •nd•d 31 March 2024 ol our r•port This report is mado solety lo the companis mambars, as a body. in accordance wAth Chapter 3 01 Part 16 01 the Our audtt work has been urKgertaken so that we mlghl stale to the companys members Ihoso matters we are required to stale to thssm in an audttors report and for no other purpose. To tho lull&$t extern pemitted by law, we do not accem or assume responsiixlity to ansDne other than tho company and the companys membars a8 a body. for our aLhSil for this report, w for Iho op1nior we havo form&l. Conor M¢Atoer (Senior Stalulory Audilorl For arnl on bohall ol Fergus McAleer & Co., Statutory A(Klitor Chartared Accountants and Régistered Auditor$ 31133 Clarofthn Slrn81 Darry 8T48 7ER 2 7 JUN 2024 27 June 2024 P•g• 10