Scotcash Annual Report 2021-22 - Report - Page 16
2020-21 ANNUAL REPORT & FINANCIAL STATEMENTS
2020-21 ANNUAL REPORT & FINANCIAL STATEMENTS
Auditor’s
report
Opinion
We have audited the financial statements of Scotcash CIC
(the ‘company’) for the year ended 31 March 2021 which
comprise the Statement of Comprehensive Income, the
Balance Sheet, 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 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).
Other information
In our opinion the financial statements:
⊲ give a true and fair view of the state of the company’s
affairs as at 31 March 2021, and of its loss for the year then
ended;
⊲ have been properly prepared in accordance with United
Kingdom Generally Accepted Accounting Practice; and
⊲ have been prepared in accordance with the requirements
of the Companies Act 2006.
are relevant to our audit of the financial statements in the UK,
including the FRC’s 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.
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 company’s ability to continue as a going
concern for a period of at least twelve months from when the
financial statements are authorised for issue.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course
of the audit:
⊲ the information given in the Directors’ report for the
financial year for which the financial statements are
prepared is consistent with the financial statements; and
⊲ the Directors’ report has been prepared in accordance
with applicable legal requirements.
Matters on which we are required to report by exception
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.
knowledge obtained in the course of 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 this gives rise to a
material misstatement in the financial statements themselves.
If, based on the work we have performed, we conclude that
there is a material misstatement of this other information, we
are required to report that fact.
Opinions on other matters prescribed by the Companies Act 2006
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
company in accordance with the ethical requirements that
The other information comprises the information included in
the Report and Financial Statements other than the financial
statements and our auditor’s report thereon. The directors
are responsible for the other information contained within the
Report and Financial Statements. 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. 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
Our responsibilities and the responsibilities of the directors
with respect to going concern are described in the relevant
sections of this report.
In the light of the knowledge and understanding of the
company and its environment obtained in the course of the
audit, we have not identified material misstatements in the
Directors’ Report.
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:
⊲ we have not received all the information and explanations
we require for our audit; or
⊲ the directors were not entitled to prepare the financial
statements in accordance with the small companies’
regime and take advantage of the small companies’
exemptions in preparing the directors’ report and from the
requirement to prepare a strategic report.
⊲ 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 returns; or
⊲ certain disclosures of directors’ remuneration specified by
law are not made; or
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