Northern Counties Development Associztion - Financial statements for the year ended 31 January 2024 Independent Auditors, Report to the Trustees of Northern Counties DevelopmentAs50ciation Page 6 We have audited the financial statements of Northern Counties Development Association (the "Charity'l for the year ended 31 January 2024 which comprise the Statement of Financial Activities, the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Cash Flows, the Statement of Changes in Equity and the notes to the financial statements including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and Generally Accepted Accounting Practice in the United Kingdom including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. In our opinion the financial statements= give a true and fair view of the assets, liabilities and financial position of the Charity as at 31 January 2024 and of its surplus for the year then ended,. have been properly prepared in accordance with Generally Accepted Accounting Practice in the United Kingdom and FRSIO2,. and 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 IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's IFRCI Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. 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 Directors, use of the going 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 Compan¢s ability to continue as a going concern for a period of at least twelve months from the date when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Directors with respect to going concern are described in the relevant sections of this report. Other information The Directors are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statement5 and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise 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 responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to 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 is a material misstatement ofthis other information, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed bythe Companies Act 2006 In our opinion. based on the work undertaken in the course of the audit- the information given in the Strategic Report and the Directors, Report for the financial year for which the financial statements are prepared is consistent with the financial 5tatement5; and the Strategic Report and the Directors, Report have been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception Based on the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified any material misstatements in the Strategic Report or the Directors, Report. rkASM
Northern Counties Development Associztion - Financial statements for the year ended 31 January 2024 Independent Auditors, Report to the Trustees of Northern Counties DevelopmentAs50ciation Page 7 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 us- or the financial statements are not in agreement with the accounting records and return5; or certain disclosures of Directors, remuneration specified by law are not made,. or we have not received all of the information and explanations we require for our audit. Respective responsibilities Directors, responsibilities for the financial statements As explained more fully in the Directors, responsibilities statement set out in the Directors, Report the Directors 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 Directors 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 Directors 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 concern basis of accounting unless the Dirertors either intend to liquidate the Charity or to cease operations. or have no realistic alternative but to do so. Auditorfs responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, 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 l UK) will always detect a material misstatement when it exists. 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 economic decisions of users taken on the basis of these financial statements. revenue recognition,. management override of controls; posting unusual journals,. and unusual estimation amounts. As part of our audit procedures we discussed these risks with management, and performed audit procedures to identify the occurrence of such risks. There are inherent limitations in any audit procedures undertaken, and in particular the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting a material misstatement due to error. A further description of our responsibilities for the audit of the financial statements is located on the FRC'S website at- www.frc.org.uk/auditorsresponsibilities This description forms part of our auditorfs report. rkASM
Northern Counties Development Associztion - Financial statements for the year ended 31 January 2024 Independent Auditors, Report to the Trustees of Northern Counties DevelopmentAs50ciation Page 8 Use of our report This report is made solely to the Charitws members, as a body, in accordance with Section 495 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the tullest extent permitted by law. we do not accept or assume responsibility to 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. Michael McAlli5ter (Senior Statutory Auditor) For and behalf of: ASM IM) Ltd Chartered Accountants and Statutory Auditors The Diamond Centre Market Street Magherafelt 23 January 2025 rkASM