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.
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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.
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Northern Counties Development Associztion - Financial statements for the year ended 31 January 2024
Independent Auditors, Report to the Trustees of Northern Counties DevelopmentAs50ciation
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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
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