TRIAX COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF TRIAX YEAR ENDED 31 MARCH 2024 Opinlon We have audited the finanrial statements of Triax (the 'charity') for the year ended 31 March 2024 which comprise the statement of financial activlties (including income and expenditure account), statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financlal statements= give a true and fair view of the state of the charity's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended.. have been properly prepared In accordance wrih United Kingdom Generally Accepted Accounting Practice., have been prepared in accordance wilh the requirements of the Companies Act 2006. Bas1$ for opinl•)n We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the audiiorfs responsibilities for the audit of the financial Statements section of our report. We are independent of the charty in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Stsndard, and y￿ have fulfilled our other ethical responsibilities In accordance with these requirements. W8 believe that the audit evldence we have obtained is SLrfficient and appropriate to provtde a basis for our opinion. Concluslons relating to golng concem In auditing the financial statements, we have concluded that the trustees, use of the golng concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charty's ability to continue as 8 going concern lor a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees viith respect to going concem are described in the relevant sections of this report. 13- TRIAX COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF TRIAX(¢ontknu8d) YEAR ENDED 31 MARCH 2024 Other Inforn)ation The other information comprises the information included in the annual report, other than the financial ststements and our auditor's report thereon. The trustees are responsible for the other infomiation. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise expliritly ststed in our report, we do not express any fomi of assurance conclusion thereon. In connection our audit of the financial statements, our responsibilty is to read the other information and, in doing so, consider whether the other infomation is materially inconsistent with the financial statements or our knowledge obtained in the audit or othewise appears to be materlally misstated. If we idents'fy such material inconsistencles or apparent material misstatements, we are required to determine wh8ther there is a material misststement in the financial statements or a material misstatement ol the other infomiation. If, based on the work we have performed, we conclude that there 18 a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinlons on other matters prescrlbed by the Companies Act 2006 In our oplnion. based on the Wofk undertaken in the course of the audit.. the information given in the trustees, report for ihe financial year for *thich the financial statements are prepared is consistent with the financial statements.. and the trustees, report has been prepared in accordance wlth applicable legal requirements. Matters on which we arg requlred to rgport by exc8ption In the light of the knowledge and understanding of the charity and ts environment obtained In the course of the audit, we have not identified material misststements in the trustees, report. We have nothing to report in Tespe¢t 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 retums adequate for our audit have not been received from branches not visited by us,. or the financlal statements are not in agreement with the accounting records and retums; or certain disclosures of trustees, remuneration specrfied by law are not made: or have not received all the infomation and explanations we require for our audit. R08ponsibilltl•s of trustees As explalned more fully in the trustees, responsibilities statement, the trustees {¥tho are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees 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 twstees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concem basis of accounting unless the trL15tees either intend to liquidate the charty or to cease operations, or have no realistic alternative but to do so. -14- TRIAX COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF TRIAX(¢on¢lnu•d) YEAR ENDED 31 MARCH 2024 Auditor's responsibllitles for the audit of the flnancial statements Our objectives are to obtain reasonable assurance aboLrt whether the financial statements as a whole are free from material misstatement, whether due to Iraud or error, and to issue an auditofs 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 misststement when it exists. Misstatements can arise from fraud or error and are considered material rf, 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 irregulartties. including fraud. The extent to vthi¢h our procedures are capable of detectlng irregularities, including fraud is detailed below. Hov4ever, the primary responsibilty for the prevention and detection of fraud rests with both management and those charged wlth governance of the chaiitable company. We assessed the suseeptibility of the charitable company's financial statements to material misstatement, including how fraud might occur, including evaluating management's incentives and opportunities to manage earnings or influence the reported results. In common with all audits under ISAS (UK), we are required to perform specific procedures to respond to the risk of management override. As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: Iderrtify and assess the risks of material misststement of the financial statements, whether due to fraud or error, design and perform audFt procedure8 responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not dete￿ng a material misstatement resulting from fraud is higher than for one resulting from error. as fraud may involve collusion. forgery, intents'onal omlssions, misrepresentstions, or the override of internal contrd. Obtain an understanding ol internal control relevant to the audit in order to design audit procedures that are approprlate in the circumstances, but not for the PUTpose of expressing an opinion on the effectiveness of the internal control. Enquire of management. those charged wtth governance and the Charity's solicitor around actual and potential Irtigation and claims. Perform analytical procedures to identify any unusual or unexpected relatbonships that may indicate risks of material misstatement due to fraud. Review minuies of meetings of those charged with governance. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disdosures made by the trustees. Conclude on the appropriateness of the trustees, use of Ihe going concem basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast slgnificanl doubt on the charrty's abilty to continue as a going concern. If W￿ condude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, rf such disclosures are inadequate, to modfy our opinion. Our conclusions are based on the audit evldence obtsined up to the dats of our audrtorfs report. However, ￿tUre events or conditions may cause the charity to cease to continue as a going concem. Evaluate the overall presentation, structure and conlent of the financial statements. including the disciosures, and whether the financlal statements represent the underlying transactions and events in a manner that achieves fair presentation. -15- TRIAX COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF TRIAX( ct>ntsnued) YEAR ENDED 31 MARCH 2024 We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in intemal control that we identify 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 state to the charty's members those matters we are required to 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 to anyone other than the charily and the charity's members as a body, for our audit work, for this reporL or for the opinions we have formed. 14 Mr G G Heaney (Senlor Statutory Auditor) For and on behalf of Claremount Chartered accountants & statutory audltor 43 Clarendon Street Derry BT48 7ER 26" September 2024 16-