Opening the door to independent living
17
Report of the independent auditors to the members of
The Penderels Trust Limited
We have audited the financial
statements of The Penderels Trust
Limited for the year ended 31 March
2011. The financial reporting
framework that has been applied in
their preparation is applicable law and
United Kingdom Accounting
Standards (United Kingdom Generally
Accepted Accounting Practice).
This report is made solely to the
charitable company’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
charitable company’s members those
matters we are required to state to
them in an auditors’ 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 charitable company and for
the charitable company’s members as
a body, for our audit work, for this
report, or for the opinions we have
formed.
Respective responsibilities of
trustees and auditors
As explained more fully in the
Statement of Trustees’
Responsibilities, the trustees (who are
also the directors of the charitable
company 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.
Our responsibility is to audit and
express an opinion on the financial
statements in accordance with
applicable law and International
Standards on Auditing (UK and
Ireland). Those standards require us
to comply with the Auditing Practices
Board’s Ethical Standards for
Auditors.
Scope of the audit of the financial
statements
An audit involves obtaining evidence
about the amounts and disclosures in
the financial statements sufficient to
give reasonable assurance that the
financial statements are free from
material misstatement, whether
caused by fraud or error. This
includes an assessment of: whether
the accounting policies are
appropriate to the charitable
company’s circumstances and have
been consistently applied and
adequately disclosed; the
reasonableness of significant
accounting estimates made by the
trustees; and the overall presentation
of the financial statements. In
addition, we read all financial and
non-financial information in the
trustees’ annual report to identify
material inconsistencies with the
audited financial statements. If we
become aware of any apparent
material misstatements or
inconsistencies we consider the
implications for our report.