Charity Registration No. NIC 100152
Company Registration No. N1041616 (Northern Ireland)
MAIDEN VOYAGE (NI) LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Iii
harbinson
mulholland

MAIDEN VOYAGE (NI) LTD
CONTENTS
Page
Directors. report
Independent examinerfs report
statement of financial actwtties
ststement of financial postbon
Statement of cash flows
Notes to the Ilnancial statements
10-18

MAIDEN VOYAGE (NI) LTD
REFERENCE AND ADMINISTRATIVE INFORMATION
Directors
JD Burke
M P Robinson
C McGrail
K Mccann
A Bradley
F Bell
(Appointed 15 August 20241
(Appointed 27 September 2024)
Secretary
JD Burke
Charity number
NIC 100152
Company number
N1041616
Registered office
CrescentArts Centre
2-4 UnÈversty Road
BelfasL
CoAntrim
Northern Ireland
BT7 1NH
Independent examiner
Harbinson Mulholland
Centrepoint
24 Ormeau Avenue
Belfast
Co. Antrim
Northem Ireland
BT2 BHS

MAIDEN VOYAGE (NI) LTD
DIRECTORS. REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Directors present their report and accounts forthe yearended 31 March 2024.
Results
The directors are pleased to present the results for 202&24. There was a net surplus ft)r the year of £5.119
attributsble to unrestricted reserves. Unrestrtcted reserves now stsnd at £43.438.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts
and comply wtth the charty's Memorandum and Articles of Association. the Companies Act 2006 and
"Accounting and Repo*i ng by Chartiies- Statement of Recommended Practice applicable to charities preparing
their accounts in accordance wtth the Financial Reporting Standard applicable in the UK and Republic of Ireland
IFRS102)" (as amended for accounting peTiods commencing from 1 January 20161.
Structure. Govemance and Management
Maiden Voyage INI) Limited is a company limited by guarantee, registratFon number N1041616. The company is
recognised by HM Revenue and Customs as having charitable status, reference number XR63074.
Maiden Voyage (Nl) Limtted's conduct is govemed by its Memorandum and Articles ofAssociation.
The Board of Directors are responsible for the policy and strategy of the company along with the financial and
legal probty of the organisation and the appointment of directors. The Board of Directors meet on a quarterfy
basis and receive management and financial report5 from the Management. The Management implement policy
and strategy, which have been appioved by the directors, progressing organisational objectives and ensuring the
long-term sustainabilty of the organisation. The Management consists of Artistic Director Nicola Cury and
Company Manager Nuala mcGree￿y.
Directors are recrutted to ensure that representative skills and experiences are in place to deliver the company's
vision and that the mission and objectwes are achieved. The Board considers potential directors of the company.
Applicants considered suitable are then invited by the Chair to join the Board_ Primarily this review considers
whether. in the opinion ofthe board. the prospectThie member will help the company meet rts aims and object'ves.
Directors undertake governance training with appropriate training organisations.
Objectives and activities
The Companls objects are specifically restricted to the advan￿Men[ improvemen( production. performance
and promotion of dance, arts and culture, the advancement of education and training in dance and related
subjects and the promotion of the benefft ofthe inhabitants of Northem Ireland in particular.
{a) to foster. promote and advance the education of the public in the knowledge. understsnding and practice of
dance, music and the visual arts in all their aspects and the training of dancers and choreographers through the
management of a dance theatre production company for public perfomiance and the showcasing of dance and
visual arts.
{b) to advance the education and training of young artists, and in particular but not excluslvely, dancers.
choreographers, musicians, composers, designers and wsual artÉsts through the performance of dance and the
production of professional stsge shows.
Ic) to foster, promote and advance the education of the public in the art of dance and to encourage appreciation
for and participation in dance by the provision of educational dance projects, infomation and training, classes,
workshops, arts facilities and equipment. support and instruction and the organisation of exhibitions of works and
events as the directors shall in their absolute discretion determine.
(d) to promote and foster learning about the creative pro￿sseS invofved in dance and in this respect, to promote
mentortng and work experience for school pupils, graduates and postgraduate artists for the benefit of their
education.
lel to advance and raise the profile of dance as an art form through the promotion of arttstic collaborations and
the fostering of partnerships with similar artistic organisations.

MAIDEN VOYAGE (NI) LTD
DIRECTORS. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Achievements and performance
Maiden Voyage offers discoveries in dance wtth by and tr artists. audiences and participants through
ommissioning and touring new dance wotk, prowding professional development and training opportunities for
pefft)miers and opportuntties for participation and leaming across the cultural. educational and heaf(h sectors.
The focus of 2023-24 was Itve perf0mlan￿s. both on stsge and outdoors" maximising showcasing opportunÈties
nationally and inTernationally. and creating opportunities for artist development and continued participatory
engagemeni for all ages.
Maiden Voyage is immensely proud of our staff team, freelance artist collaborators, dance sector, partner
organisations, board of direttLors and funder5 in the management planTring and delwery of our programmes.
Contracts
- 26 artists on 46 paid contracts across the arh.stic programme.
Commissions & Perfomiances
- Good fimes Never Seemed at Belfast Intemational Arts Festival (12 performances}
- Haiku (1 perforrn8n￿)
- C811 To ￿nd at Belfast Children's Festival {6 perfom)ances)
Showcases
Homegrovm Belfast Children's FestNal
Professional Development
240 artist development hours
Reached
1510 live audiences
96 workshop sessions delivered wtth 373 direct participants totalling 2776 contact hours.
Commissions
Good Times Never Segmed was an initial SEED commission from 2021r22 for dancelwsual artist Vasiliki
stasinaki and wrTterlperfonner Sarah Gordon. ￿ was developed into a durational installation in 2023. The
partnership originated from Maiden Voyage's 2020 Match Make short film collaborations during Covid and we
were delighted to support the further working partnership and artistic collaboration ofthe artists. Good fim8S
Never Seemed was performed as a 5-hour duration installation each day for 4 days at QSS Gallery in Belfast
during Belfast Intemational Arts Festival in November 2023.
Call to Mind was created by London-based choreographer Sarah Golding and Nl musician Steve Davis for
teenage audiences. Initial creation was supported by ACNI Commission Fund allowing the collaborators to work
for four weeks in MaylJune 2023 wrth three dan￿rS and three live musicians. Call to Mind premierèd at Belfast
Children's Festival 2024 with 6 performances.
Haiku is a short dance for public Spa￿ work commissioned from Erik Kaiel (NL) which premiered at Belfast
Children's Festival in March 2023 and was adapted for invitational perforrrfjnce trom Newry Mourne and Down
District Council for opening of a light instsllation outside Newry Town Hall in February 2024. We combined this
opportunty wtth mentoring and skill building in making dance for public spaces with the Haiku performers.
Showcasing
Call to Mind was part of the homegrown showcase at Belfast Children's Festival. Homegrown is a well-
èstsblished industry showcase for theatre and dance for young aUdIen￿S during Belfast Children's Festsval.
Thirty national and intemational delegates attended the showcase in Belfast during the first weekend of the
festival. This showcase is an important point of connection to natÈonal and international colleagues, producers,
progr8mmer and festivals.

MAIDEN VOYAGE (NI) LTD
DIRECTORS, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Professional Development
We offered a focused programme of professional development and artist support during 2023124 wtth mentoring
for Nl artists in making work for public spaces. open dass when the company was in production and
masterclasses wtth visiting artists.
Outreach
A series of repertoire-based workshops were delNered in schools and colleges from AThagh to Bangor and
across Belfast Funding for this was through our annual funding from ACNI and Belfast Cty Council. Workshops
were based on Call to Mind themes of memory and seeing others. perspectives and were deIr￿ered by the cast
and supporting artists. mU￿1P1e workshops vJere delivered to various classes in each school in the hall followed
by a sharing of the show. This was. for some. a first-time experience and for others it was closely linked to their
college studies (BTEC, HND in SERC, NRC. SRC) or dance studies (High Points).
Belfast Movement Group is the continuation of the original Belfrdst Movement Choir projecL The April-June
2023 term was supported by Bank of Ireland Begin Together funding for a women's group in south Belfast and a
young girfs group in East 8elfasL This terni concluded that part of the project. September 2023 - March 2024
saw a trther t￿0 terms offered for women aged 50-85 and, as funding had come to an end, participants now pay
on a termly basis Lowards the cost of space hire and tLrtor fees.
April - June 2023 the conclusion of Move FÈt a muiti-year dance and wellbeing programme in Lowwood and
Holy Cross 8oys' Primary Schools in North Belfast. The programme was SUC￿SS￿l in encouraging better
attttudes to tsking part in physical actsvity amongst stsff. pupils and parents. the beneffts and enjoyment inherent
in physical atriNty and in skill building 'through bespoke training for staff to be able to continue legacy sessions i
school.
We completed a third year of Seasonal Somatics regular outdoor workshops themed on our relationship wtth
the natural world. Sessions svere deltvered across a range of parks in greater Belfast by Sandy Cuthbert. A group
of 24 people from dsverse backgrounds signed up dunng the year. Some came with no dance experience
discovering the benefrts of this collectNe experience and some have been taking part regularly since the
programme g￿rted three years ago. Audien￿$ are made up of passers-by in each olthe parks in the duration of
the sessions.
Conclusion
In keeping wrth our strategic plan, we deltvered in three key areas" new work commissions. arhst development
and participatory actmty. Resourcing each of these aspects of the programme in full has become increasingly
challenging due to overten years of standstill funding and the ongoing threat of further cuts to arts fvnding.
202&24 was a year of beginnings and endings. We saw the conclusion of longstanding participatory
programmes Move Fit and Belfast Movement Choir and the beginnings of new and old partnerships and
approaches to ongoing and future programme development
An opportunty arose in year to contribute to a bid prO￿sS for a new dance company wtth an all-island remf(
in￿ated by Arts Council Ireland. The bid, led by LE Roche Company Dublin with Maiden Voyage as a
foundational and strategic partner, was successful followng the competittve bid and interview proces5. 2024 wll
see the estsblishment of this new company and, in 2025 the delNery of an ambitious programme of work
Maiden Voyage's partnership with Luail will open opportunities for measured and careful growth of our repertoire,
of new C¢>commissions and co-productions. of touring within Northem Ireland. and artist development here in
Northem Ireland.
In 2023-24 we continued invoEvemerrt in BLUEPRINT the Arts & Business Nl initiatwe to support research and
development of new avenues for income generation. This supported fulktime working for Company Manager in
year.
We are gratefijl to our annual funders and programme fiJnder5 for their generous assistance throughout the year.

MAIDEN VOYAGE (NI) LTD
DIRECTORS. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
FINANCIAL REVIEW
In 2023-24 we were fortunate to maintsin annual fijnding from prtncipal funder Art5 Council of Northem Ireland
and otherfunders for core and project costs as below.
The Directors would like to thankthe companys principal fvnders=_
Arts Council of Northem Ireland
Belfast Cty Council
Move Fit funders'.-
Garfield Weston Foundation
Victoria Homes
Belfast Movement Group:_
Bank of Ireland Begin Together
Blueprint-
Arts & Business Nl
FUNDS HELD AS CUSTODIAN TRUSTEE ON BEHALF OF OTHERS
The charity does not hold any funds as custodian for any other trustee body.
RESERVES POLICY
The company's policy is to maintain reserves at a level which ensures that the companys core administrative
activities are able to continue in the immediate future, for a period deemed appropriate by the Board; currently a
minimum of 3 months. The directOT5 will however consider on an ongoing basis the level of reserves that is
prudent forthe charity'LO have in line wtth known fvture developments, liabilities and uncertainties.
STATEMENT OF DIRECTORS, RESPONSIBILITIES
The directors are responsible for prepallng the Directors. Report and the financial statements in accordance with
applicable law and regulations.
Company lew requires the directors to prepare ffinancial statements for each financial year. Underthat law the
directors have elected to prepare the financial statements in accordance wf(h the Untted Kingdom Generally
AcceptedAccounting Practi￿ (United Kingdom Accounting Standards and applicable law). Under company law
the dirèctors must not approve the financial statements unle55 they are satisfied that they grve a true and fair
view of the state of affairs of the tNst and of the SUTplus or deficit of the trust ft)r that period.
In preparing these financial statements the directors are required to.. -
select suitable accounting policies and then apply them consistently.
make judgements and estimates that are reasonable and prudent
prepare the financial ststements on the going concern basis unless it is inappropriate to presume that the
Company will continue in business.

MAIDEN VOYAGE (NI) LTD
DIRECTORS. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the
company's transactions and disclose with reasonable accuracy at any time the financial position ofthe company
and enable them to ensure that the financial statements comply with the CompaniesAct 2006. The directors are
also responsible for safeguarding the assets of the company and hence for taking reasonable steps to prevent
and detect fraud and other irregularities.
The above report has been prepared in accordance with the provisions applicable to companies subject to the
small companies regime within Part 15 of the CompaniesAct 2006 and thè Statement of Recommended Practice
{Accounting and Reporting by Charities) 2015.
By order of the Board
JD
Sec
rke
etary

MAIDEN VOYAGE (NI) LTD
INDEPENDENT EXAMINER'S REPORT
TO THE DIRECTORS OF MAIDEN VOYAGE (NI) LTD
We report to the Directors on our examination of the accounts of Maiden Voyage {Nl} (the charty) for the year
ended 31 March 2024 which comprise the statement of )7nanci81 activrties, the balance sheet and the related notes.
These financial statements have been prepared under the historical cost convention and the accounting policies set
out on pages 9-11.
Responsibilities and basis of report
As the Directors of the chanty land also its directors for the purposes of company law) you are responsible for the
preparation of the accounts and you consider that the audit requirement of Section 65(31 of the Charibes Act INI}
2008 (the Act). Having satisfied ourselves that the chartty is not subject to audtt under company law, and is eligible
for independent examinats"on. rt is our responsibilty to-
• examine ihe accounts under section 85 of the Charriies Act (Northern Ireland) 2008..
Tollow the Pro￿dureS laid down in the general Directions gtven by the Chartty Commission for Northem
Ireland under section 6519)Ib) ofthe CharitiesAct,
state whether particular matters have come to our attention.
Independent examinerfs statement
We have examined your charity accounts as required under Section 65 of the Charities Act and our examination
was catried out in accordance wtth the general Directions gwen by the Charty Commission for Northern Ireland
under sethon 65(9){b) of the Charitses Act The examination included a rewew of the accounting records kept by
the chanty and a comparison of the accounts presented wrth those records. It also included consideration of any
unusual iiems or disclosures in the accounts. and seeking explanations from you as charity trustees conceming any
such matters.
Our role is to state whether any material matters have come to our attention giving me cause to believe=
That accounting records were not kept in respect of the charity as required by secknon 386 of the 2006 Act: or
That the accounts do not accord wtth those records" or
That the accounts do not comply with the accounting requiremerrts of section 396 of the Companies Act 2006
and with the methods and principles of the Charities Statement of Recommended practi￿ applicable to
charrties preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK
and Republic of Ireland.
That there is further infortrration needed for a proper understsnding of the accounts to be reached.
We have completed our examination and have no concerns in respect of the matters {1) to {4) listed above and, ID
connection with following the Directions of the Chanty Commission for Northem Ireland. we have found no matters
that require drawing to your attention.
Harbinson Mulholland
Centrepoint
24 Ormeau Avenue
Belfast
Co. Antrim
BT2 8HS
Northem Ireland
2811112024

MAIDEN VOYAGE (NI) LTD
STATEMENT OF FINANCIALACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted Restricted
funds
funds
2024
2024
Total Unrestricted Restricted
funds
funds
2023
2023
Total
2024
2023
Notes
Income from:
Donations and legacies
Charrtable actwitsés
125,068
4,000
125,068
12,245
144,922
50,279
144,922
56,229
8.245
5.950
Total income
8,245
129,068
137,313
5.950
195,201
201,151
Expendtture on:
Charitsble actsvittes
150,509
150.509
161,825
161,825
Net incomel(expenditure}
8.245
(21,441) (13.196)
5,950
33,376
39.326
Transfers be￿een
funds
(3,126)
3,126
(3,473)
3,473
Net movement in
funds
5.119
(18,315)
(13.196)
2,477
36,849
39,326
Reconciliation of funds:
Fund balances at 1 April 2023
38.319
42,474
80,793
35.842
5,ff25
41.467
Fund balances at 31 March
2024
43,438
24,159
67.597
38,319
42,474
80,793
The ststement of financial activitFes includes all gains and losses recognised in the year. All income and expenditure
derive from continuing activities.

MAIDEN VOYAGE (NI) LTD
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024
2024
2023
Notes
Fixed assets
Tangible assets
11
17,405
22,866
Current assets
Debtors
Cash at bank and in hand
12
8,923
54,419
9.107
63,856
63.342
72,963
Creditors: amunts falling due within
one year
13
(13.150)
(15.036)
Net current assets
50,192
57,927
Total assets less current liabilities
67,597
80,793
The funds of the charlty
Restricted income funds
Unrestricted funds
15
16
24,159
43,438
42,474
38,319
67,597
80,793
The company is entttled to the exemption from the audrt requirement contsined in section 477 of the Companies Act
2006. for the year ended 31 March 2024. No members have required the company to obtain an audtt of tts accounts
for the year in question in accordance with section 476 of the Companies Act 2006.
The Directors. acknowledge their responsibilytie5 for ensuring that the chanty keeps accounting records which
comply wrth section 386 of the Act and for preparing accounts which gwe a true and fair view of the state of affairs
of the company as at the end of the financial year and of its incoming resources and application of resources,
including its income and expenditure. forthe financial year in accordance wtth the requirements of sections 394 and
395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as
applicable to the company.
These financial ststerrEnts have been prepared in accordan￿ with the provisions applicable to companies subject
to the small companies regime.
The financial statements were approved by the Directors on .......................-.
M P Robinson
Treasurer
Company registrats'on number N1041616 (Nothem Ireland)

MAIDEN VOYAGE (NI) LTD
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Notes
Cash flows from operating activrties
Cash (absorbed byygenerated from
operations
21
(9,096)
14.931
Investing activitles
Purchase oftangible fred assets
(341)
(20.532}
Net cash used in investing activities
{341)
120,5321
Net cash used in financing a¢tivitie5
Net decrease in cash and cash equivalents
(9,437)
(5,6011
Cash and cash equtvalents at beginning of year
63,856
69,457
Cash and cash equivalents at end of year
54,419
63,856

MAIDEN VOYAGE (NI) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
Charity information
Maiden Voyage (Nl) Ltd is a prtvate company limtted by guarantee incorporated in Northem Ireland. The
regisiered office is CrescentArts Centre, 24 Universty Road. BelfasL Co Antrim, BT7 1 NH, Northem Ireland.
1.1 Accounting convention
The accounts have been prepared in accordance wtth the Companies Act 2006 and "Accounting and
Reporting by Chartties" Statement of Recommended Practice applicable to charities preparing their 8ccounts
in accordance wtth the Financial Repoftiing Stsndard applicable in the UK and Republic of Ireland {FRS 102)°
(as amended for accounting periods commencing from 1 January 2016). The chanty is a Public Benefit Entty
as defined by FRS 102.
The financial st*Lements are prepared in sterling. which is the functional currency of the charty- Monetary
amounts in these financial statements are rounded to the nearest £.
The financial ststements have been prepared under the historical cost convention. The principal accounting
policies adopted are set out below.
1.2 Charitable funds
Unrestncted funds are available for use at the discretion of the Directors in furtherance of their charitable
objectives.
Restricted funds are subject to specffic conditions by donors or grantors as to how they may be used. The
purposes and uses ofthe restricted funds are set out in the notes to the financial statements.
1.3 Income
Income is recognised when the charity is legally entttled to tt after any perfomiance conditions have been met,
the amounts be measured reliably. and it is probable that income will be received.
Cash donations are recognised on receipt. Other donab.ons are recognised once the charty has been notffied
of the donation, unless Performan￿ condttions require deferral of the amount Income tsx recoverable in
relation to donations re*ived under GiftAid or deeds of covenant is recognised atthe time of thè donation.
Legacies are recognised on receipt or othe￿iSe rf the charity has been nottfied of an impending distrtbution.
the amount is known, and receipt is expected. If the amount is not known. the legacy is treated as
contingent asset.
Tumover is measured at the fair value of the consideration received or receivable and represents amounts
receivable for goods and seTvices provided in the normal course of business, net of discounts, VAT and other
sales related tsxes.
10-

MAIDEN VOYAGE (NI) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
(Continued)
1.4 Expenditure
Expendtture is recognised once there is a legal or constructive obligation to transfer economic benefft to a
Lhird paty. it is probable that a transfer of economic benefits will be required in settlemenL and the amount of
the obligation can be measured reliably.
Expendtture is classtfied by actmty. The costs of each acknvity are made up of the tota5 of direct costs and
shared costs. including support costs inVo￿ed in undertaking each a¢twty. Direct costs attributable to a single
actwty are allocated directly to that acbvty. Shared costs which contribute to more than one actwity and
support costs which are not attribTtrLable to a single acts'vrty are apportioned be￿een those activrties on a basis
consistent with the use of resources. Central stsff costs are allocated on the basis of time spent, and
depreciation charges are allocated on thè portion of the asseys use.
xpenditure is included in the Statement of Financial Acttvtthes on an accruals basis. exclusive of any VAT
which can be recovered.
Certain expendtture is directy attn"butable to spectfic actsvtties and has been included in those cost
categories. Certain other costs. which are attributsble to more than once acb"v"ty. are apporknoned across cost
categones on the basis of an estimate of the proportion of time spent by staff on those activtties.
Tangible fixed assets
Tangible fixed assets are intbally measured at cost and subsequently measured at cost or valuab"on, net of
depreciats'on and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their
useful lives on the following bases-
Production Matenals
Office Equipment
25% reducing balance
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference be￿een the sale
proceeds and the carying value of the asset, and is recognised in the statement of financial activities.
1.6 Impainnent of fixed assets
At each reporting end date, the charty reviews the carying amounts of its tangible assets to determine
whether there is any indication that those assets have suffered an impaimient loss. If any such indication
exists, the recoverable amount of the asset is esttmated in order to detemiine the extent of the impaimient
loss {if any).
1.7 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid
investments wrth original maturttiés of three mnths or less, and bank overdrafts. Bank overdrafts are shown
wfchin borrowings in current liabilities.
1.8 Financial instruments
The charty has elected to apply the provisions of Section 11 'Basic Financial Instnjments, and Section 12
'Other Financial Instruments Issues. of FRS 102 to all of rts financial instruments.
Financial instruments are recognised in the charrvs balance sheet when the chartty becomes paty to the
ontractual provisions of the instrument
Financial assets and liabilthes are offset, with the net amounts presentsd in the financial ststements, when
there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a
net basis or to realise the asset and settle the liabilty simultaneously.
11

MAIDEN VOYAGE (NI) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting pollcies
(Continued)
Basic ffnancial assets
Basic financial assets, which include debtors and cash and bank balances. are inttially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the
effecttve interest method unless the arrangement constitutes a financing transaction, where the transaction is
measured at the present value of the fiJture receipts discounted at a mart(et rate of interest. Financial assets
classiTTed as receivable wtthin one year are not amortised.
Basic financial liabilities
Basic financial liabiltbes, including creditors and bank loans are initially recognised at trans8Ction price unless
the arrangement constttiAtes a financing transaction. where the debt instrument is measured at the present
value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable
within one year are not amortised.
Debt instruments are subsequent]y carried at amortised cost. using the effecttve interest rate method.
Trade credttors are obligab-ons to pay for goods or serwces that have been acquired in the ordinary course of
operations from suppliers. Arnounts payable are classtfied as c1j￿ent liabiltties if payment is due within one
year or less. If not. they are presented as non-cutrent liabilities. Trade creditors are recognised initially at
transaction price and subsequenly measured at amortised cost using the effectwe interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the chaTity's contractual obligations expire or are discharged or
cancelled.
1.9 Employee benefts
The cost of any unused holiday entrtlement is reco9nised in the period in which the employee's seNices are
receNed.
Termination beneffts are recognised immediately as an expense when the charity is demonstrably committed
to teminate the employment of an employee or to provide termination beneffts.
1.10 Retirement benefits
Payments to defined contribukn.on retirement benefft schemes are charged as an expense as they fall due.
Critical accounting estlmates and judgements
In the £pplication of the charivs accounting policies, the Directors are required to make judgements,
estimates and assumptions about the carying amount of assets and liabilrties that are not readily apparent
from other sources. The estimates and associated assumptions are based on historical experien￿ and other
factors that are considered to be relevant Actual results may differ from these estimates.
The estimates and undedying assumptions are reviewed on an ongoing basis. Revtsions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.
12-

MAIDEN VOYAGE (NI) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
ncome from donations and legacies
Restricted
funds
2024
Restricted
funds
2023
Grants
125,068
144,922
Grants
ACNI AFP
Belfast Cty Council CMAG
ACNI Commission FLFnd
ACNI Health and safety grant
97,444
11,913
15.711
104,944
11,913
9,025
19,040
125,068
144,922
Income from charrtable activities
2024
2023
Box office and workshop fees
Project grants
8,245
4,000
5,950
50,279
12.245
56.229
Analysis by fund
Unrestricted funds
Restricted funds
8,245
4,000
5,950
50,279
12,245
56,229
Expenditure on charitable activitses
Charitable Govemance
Activities
Costs
2024
2024
Total
2024
Total
2023
Activtties undertaken directty
69,078
69.078
93,561
Share of support costs (see note 6)
Share of governan￿ costs (see note 6)
79,811
79,811
1,620
66,674
1,590
1.620
148,889
1.620
150.509
161,825
13-

MAIDEN VOYAGE (NI) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Support costs allocated to activtties
2024
2023
staff costs
Depreciation
Office overheads
Finance
Goveman* costs
60,911
5,802
13.045
53
1,620
48,510
3,132
14.941
91
1,590
81,431
68,264
Analysed between:
Support costs
Govemance costs
79.811
1,620
66,674
1,590
81,431
68,264
Net movement in funds
2024
2023
The net movement in funds is stated after chargingl(crediting):
Depreciation of owned tangible ￿ed assets
5,802
3,132
Directors
None of the Directors (or any persons connected with them) receNed any remuneration or beneffts from the
charty dunng the year.
Employees
The average monthly numberof employees during the yearvRs"
2024
Number
2023
Number
Employment costs
2024
2023
Wages and salaries
other pensÉon costs
58,031
2.880
46,200
2,310
60,911
48,510
Remuneration of Key Management Personnel
The total amount of employee benefit received by the key management petsonnel was £60,911 (2023:
£48,511)
14-

MAIDEN VOYAGE (NI) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
10 Taxation
The charty is exempt from tsx on income and gains falling within section 505 of the Taxes Act 1988 or section
252 of the Taxatian of Chargeable Gains Act 1992 LO the extent that these are applied to rts charitable objects.
11 Tangible fixed assets
Production
Matèrials
Office
Equipment
Total
Cost
At 1 April 2023
Addtbons
670
341
32,900
33.570
341
At 31 March 2024
1,011
32,900
33,911
Depreciation and impairment
At 1 April 2023
Depreciation charged in the year
670
85
10,034
5,717
10,704
5.802
At 31 March 2024
755
15,751
16,506
Carying amunt
Ai 31 Klarch 2024
256
17,149
17,405
At 31 March 2023
22.866
22.866
12 Debtors
2024
2023
Amounts falling due wtthin one year:
Trade debtors
Prepayments and accrued income
7,247
1,676
8,245
862
8,923
9,107
13 Creditors: amounts falling due within one year
2024
2023
Trade credttors
other creditors
Accruals and defe￿ed income
130
2,416
10.604
4,578
10,458
13,150
15,036
15-

MAIDEN VOYAGE (NI) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
14 Retirement benefrt schemes
2024
2023
Defined contribution schemes
Charge to profft or loss in respect of defined contributs.on schemes
2,880
2,310
The charity operates a defined contribution pension scheme for all qualtfying employees. The assets of the
scheme are held separately from those ofthe charity in an independendy administered fund.
15 Restricted funds
The restricted funds of the charity comprise trte unexpended balances of donations and grants held on trust
subjectto specnfjc condiknons by donor5 as to how they may be used.
Movement in funds
Income Expenditure
Balance at
1 April 2023
TTansfers
Balance at
31 March 2024
Core
New Commission5
Productions
Arbst Development
Outreach and Access
Move FtE
Belfast Movement Choir
30,311
9,025
67.144
15.711
37,388
2,500
2,825
500
3.000
(82.227)
(18.050)
(37.733)
(2.500)
{3.316)
(2,890)
(3.793)
2,245
17,473
6,686
345
491
45
2,345
793
42,474
129,068
(150,509)
3,126
24,159
The restricted fund relates to funding for the following projects:_
Arts Council Nl Ref29387 and 31788 for Core and Projed
Arts Council Nl Ref29127 and 31504 Commission Fund
Belfast Ctty Council Enable Year2 of 2
Victoria Homes for Move Fit
Garffeld Weston for Move F
Bank of Ireland for Belfast Movement Choir
Arts & Business NE
The restricted fvnd balance at 31 March 2024 includes a balance of £17,283 (2023. £22,704) in relation to
equipment grants and will be released in future years in line wrth the associated depreciation charge.
18-

MAIDEN VOYAGE (NI) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
16 Unrestricted funds
The unrestricted funds of.the charty comprise the unexpended balances of donations and grants which arè
not subjectto specific condtb.ons by donors and grantors as to howthey may be used. These include
designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
At 1 April
Incoming
2023 resources
Transfers At 31 March
2024
General fijnds
38,319
8,245
{3,126)
43,438
Previous year:
At 1 April
2022
Incoming
resources
Transfers At 31 March
2023
General funds
35.842
5,950
(3,473)
38,31g
17 Unrestricted funds
These are endowment funds which are material to the charivs activtties made up as follows:
18 Analys￿ of net assets between fund5
Unrestricted
funds
2024
Restricted
funds
2024
Total
2024
At 31 March 2024:
Tangible assets
Current assets](liabiltties)
122
43.316
17,283
6,876
17.405
50,192
43,438
24,159
67.597
Unrestricted Restricted
funds
funds
2023
2023
Total
2023
At 31 March 2023:
Tangible assets
Current assetsl{liabilrties)
162
38,157
22.704
19,770
22,866
57,927
38,319
42,474
80,793
19 Related party transactions
There were no disclosable related paty transactions dufflng the yèar {2023- none).
17-

MAIDEN VOYAGE (NI) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
20 Analysis of changes in net funds
The charty had no material debt during the year.
21 Cash generated from operations
2024
2023
(Deficitysurpus forthe year
(13.196)
39,326
Adjustments for.
Depreciation and impairment of tsngible fixed assets
5,803
3,132
Movements in worktng capital:
Decreasel{increasel in debtors
(Decrease) in creditors
183
(1,886}
(3,7111
(23,816)
Cash (absorbed byygenerated from operations
(9,096)
14,931
18-