Page 45 - Housing Solutions Annual Report

Independent Auditor’s Report to the
Members of Housing Solutions
For the year ended 31 March 2019
OPINION
We have audited the financial statements of
Housing Solutions Limited (“the association”‘) and
its subsidiaries (the ‘group’) for the year ended 31
March 2020 which comprise the consolidated and
Association statement of comprehensive income,
the consolidated and Association statement
of changes in reserves, the consolidated and
association statement of financial position, the
consolidated statement of cash flow, and the
related 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 United
Kingdom Accounting Standards including Financial
Reporting Standard 102; The Financial Reporting
Standard applicable in the UK and Republic of
Ireland (United Kingdom Generally Accepted
Accounting Practice).
In our opinion the financial statements:
• give a true and fair view of the state of the group’s
and of the Association’s affairs as at 31 March
2020 and of the group’s and the Associations
surplus for the year then ended;
• have been properly prepared in accordance with
United Kingdom Generally Accepted Accounting
Practice; and
• have been properly prepared in accordance with
the Co-operative and Community Benefit Societies
Act 2014, the Co-operative and Community Benefit
Societies (Group Accounts) Regulations 1969,
the Housing and Regeneration Act 2008, and
the Accounting Direction for Private Registered
Providers of Social Housing 2019.
BASIS FOR OPINION
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 Auditor’s responsibilities for the audit of the
financial statements section of our report. We
are independent of the Group and Association in
accordance with the ethical requirements that are
relevant to our audit of the financial statements in
the UK, including the FRC’s Ethical Standard, and
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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
We have nothing to report in respect of the
following matters in relation to which the ISAs (UK)
require us to report to you were:
• the board members use of the going concern basis
of accounting in the preparation of the financial
statements is not appropriate; or
• the board members have not disclosed in the
financial statements any identified material
uncertainties that may cast significant doubt about
the Group’s or the Association’s ability to continue
to adopt the going concern basis of accounting for
a period of at least twelve months from the date
when the financial statements are authorised for
issue.
EMPHASIS OF MATTER
(Care Homes and Investment properties valuation)
We draw attention to note 14, which explains that
as a result of the impact of the outbreak of the
Novel Coronavirus (COVID-19) on the market, the
Company’s property valuer has advised that less
certainty, and a higher degree of caution, should be
attached to their valuation than would normally be
the case. Our opinion is not modified in respect of
this matter.
OTHER INFORMATION
The board is responsible for the other information.
The other information comprises the information
included in the Annual Report, other than the
financial statements and our auditor’s report
thereon. Our opinion on the financial statements
does not cover the other information and 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 including the Strategic Report and
the Report of the Board of Management and, in
doing so, consider whether the other information is
materially inconsistent with the financial statements
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