Company Number:N1050033
Charlty Number: XR62733
CCNI Regi8lralion number: NIC100927
VELA MICROBOARDS NI LIMITED
{A company Ilmlted by guarantee, not havlng a share capltall
Directors, Report and Financial Ststements
for the year ended 31 March 2023

VELA MICROBOARDS NI LIMITED
(A company Ilmltod by guarantee, not havlng a •harn capltal)
CONTENTS
Page
Reference and administrative information
Directors, Annual Report
Independent Auditors Report
8-11
Statement of Financial Activities
12
Balance Sheet
13
Statement of cash flows
14
Notes forming part of the Financial Statements
15-19

VELA MICROBOARDS NI LIMITED
(A company limit•d by 9uarantoe, not havlng a share capltal)
REFERENCE AND ADMINISTRATIVE DETAIL
Dlrectors
Ms Marian Corrigan
Mr Feargal Mccormack
Ms Alison Rooney
Ms Suzanne Mcstravick
Ms Caroline Preston
Ms Rebecca Coyle
Ms Elizabeth Dixon
Mr John McAndrew
Company Number
N1050033
Charlty Number
XR62733
CCNI Registration Number
NIC 100927
Reglstered Offlce
Dromalane Mill
The Quays
Newry
BT35 8QS
Audltors
Malone Accounting Limited
Chartered Accountants and Statutory Auditors
12 New Street
Newry
Co. Down
BT35 6JD
Northern Ireland
Bankers
Bank of Ireland
Trevor Hill
Newry
Co Down
BT34 IDT

VELA MICROBOARDS NI LIMITED
IA cornpany Ilmlted by guarantee, not havlna a Share capltsl)
DIRECTORS, ANNUAL REPORT
for the year ended 31 March 2023
The trustees, who are also directors of the charity for the purpose of the Companies Act, submit their
annual report and the audited financial statements for the year ended 31 March 2023. The trustees have
adopted the provisions of the Statement of Recommended Practice ISORPI "Accounting and Reporting by
Charities" issued in 2015 in preparing the annual report and financial statements of the charity.
The charity is a charitable company limited by guarantee and was incorporated on 25 March 2004. It is
governed by a memorandum and articles of association. Its objects are to effect the change at policy,
organisational and practice levels and, using person centred approaches, to enhance the lives of
indLVLduals by encouraging the promotion and creation of microboards throughout Northern Ireland.
STRUCTURE. GOVERNANCE AND MANAGEMENT
Vela Microboards Nl Ltd is a company limited by guarantee and is made up by a Board of Directors listed
below.,
Ms Marion Corrigan
Mrs Rebecca Coyle
Ms. Elizabeth Dixon (appointed 26.09.20221
Mr John McAndrew (appointed 26.09.2022)
Mr Feargal Mccormack
Ms Suzanne Mcstravick {appointed 26.09.20221
Mrs Caroline Preston
Ms Alison Rooney
The Trustees continue to review the major risks that the charitable company is exposed to and review and
evaluate appropriate systems in mana9ement of such risks.
The core values of Vela Microboards Nl Ltd are:
Equality of Citizenship
Person - Centredness
Support for the concept and establishment of Microboards
Integrity
Directors
The Directors who seNed the company during the year are listed above.
The role of the 8oard of Directorstrrustee5 IS to ensure Vela Microboards Nl Ltd is effectively governed,
that it complies with all relevant legislation, its Articles of Association and the requirements of good
practice and, that Lt operates to agreed Strategic and Operational Plans and budgets.
The Directors operate in accordance with the rules set down in the Articles of AsSoC￿tion. The Board of
Directors is required to meet at least 4 times per year.
When new Directors are appointed, they are provided with an in-depth introduction to the work of Vela
Microboards Nl Ltd. A robust induction process brief5 them on all the key aspects of the charity and the

VELA MICROBOARDS NI LIMITED
A company Ilmlted by guarantee. not having a share ¢apltsll
DIRECTORS. ANNUAL REPORT
for the year ended 31 March 2023
regulatory framework within which the charity operates. They are also briefed on their individual and
collective legal responsibilities as Directors and charity Trustees.
The Directors meet regularly to agree the broad strategy of the charity and to monitor its activities. During
202212023 the Council met on 4 occasion5.
The Directors of the charity receive no private benefit for their involvement in the charity.
OBJECTIVES AND ACTIVITIES
Vela Microboards Nl Ltd, will strive to effect change at policy, organisational and practice levels, and using
person centred approaches, to enhance the lives of individuals by encouraging the promotion and
creation of Microboards throughout Northern Ireland.
ACHIEVEMENTS AND PERFORMANCE
We have continued to support existing Microboards and have responded to all requests for information
and support.
We have promoted Vela Microboards by the provLSLon of presentations to varLOUS community and Social
Service groups.
We have established links with relevant voluntary organisations to assist with the promotion of VeLa
Microboards.
We have updated our website, www.velamicroboardsni.com. Promotional material has been developed
and distributed.
METHOD OF APPOINTMENT OF ELEcfioN OF DIRECTORS
The Directors are appointed annually by the members of the Company at an Annual General Meeting. Any
Director so appointed shall hold office until the next following Annual General Meeting and shall then be
eligible for re-election. The Directors have the power at any time and from time to time to appoint any
person to be a Director, either to fill a casual vacancy or as an addition to the existing Directors.
Unless otherwLSe determined by the Company in the General Meeting, the number of Directors shalL not
be more than S￿teen nor less than five.
ORGANISATIONAL STRUCTURE AND DECISION MAKING
None of the Directors have any beneficial interest in the company. All the directors are members of the
company and guarantee to contribute £1 in the event of a winding up.
DecLSLons at General Meetings Shall be made by passing resolutions. Decisions involving an alteration of
the Memorandum and Article5 of Association of the Company and other dec￿lonS so required by statute
shall be made by special resolution. A special resolution is one passed by a majority of not less than
three-fourths of members present and voting at a General Meeting.
All other decLSLons shall be made by ordinary resolution requiring a simple majority of members present
and voting.

VELA MICROBOARDS NI LIMITED
IA company limited by guarantee, not having a share capital)
DIRECTORS, ANNUAL REPORT
for the yéar ended 31 March 2023
RISK MANAGEMENT
The Directors have assessed the major risks to which the company is exposed, tn particular those related
to the operations and finances of the company and are satisfied that systems and procedures are in place
to mitigate our exposure to the major risks.
RESERVES POLICY AND GOING CONCERN
The Directors annually review the reseNes of the charity and have concluded that a general reserve
equivalent to three months of operating costs should be held. This should allow the charity to be
managed efficiently and provide a buffer for uninterrupted services,
The directors believe that the charity has adequate reserves to continue as a going concern.
TRUSTEES. RESPONSIBILITIES STATEMENT
The trustees (who are also the directors of VELA MICROBOARDS NI LTD for the purposes of company lawl
are responsible for preparing the Trustees, Annual Report and the accounts in accordance with applicable
law and regulations.
Company law requires the trustees to prepare accounts for each financial year. Under that law the trustees
have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting
Practice (Untted Kingdom Accounting Standards and applicable law). Under company Law the trustees
must not approve the accounts unless they are satisfied that they give a true and fair view of the state of
affairs of the charity and the income and expenditure of the charity for that period.
In preparing these accounts, the trustees are required to:
select SULtable accounting policies and then apply them consistently,.
observe the methods and principles in the Charities SORP,.
make judgements and accounting estimates that are reasonable and prudent., and
prepare the accounts on the going concern basis unless it is Lnappropriate to presume that the
charity will continue in operation.
The trustees are responsible for keepin9 adequate accounting records that are sufficient to show and
explain the charity's transactions and disclose with reasonable accuracy at any time the financial position
of the charity and enable them to ensure that the accounts comply with the Companies Act 2006. They are
also responsible for Safeguarding the assets of the charity and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.

VELA MICROBOARDS NI LIMITED
{A company Ilmited by guarantee, not havlng a share capltal)
DIRECTORS. ANNUAL REPORT
for the year 8nded 31 March 2023
AUDITOR
Malone Accounting Limited, Chartered Accountants and Statutory Auditors, are deemed to be
re-appointed under section 48712) of the Companies Act 2006.
STATEMENT AS TO DISCLOSURE TO OUR AUDITORS
Each of the persons who is a trustee at the date of approval of this report confirms that:
So far as each trustee is aware, there is no relevant audit information of which the charity's auditor is
unaware,. and
Each trustee has taken all steps that they ought to have taken as a trustee to make themselves aware
of any relevant audit inf
ation and to establish that the charity's auditor is aware of that
information.
Signed on
half of the trustees
Feargal Mccormack
Dlrector
Registered office:
Dromalane Mill
The Quays
Newry
BT35 8QS

INDEPENDENT AUDITOR'S REPORT
to the Members of VELA MICROBOARDS NI LIMITED
{A company limltod by guarantee, not having a share capital)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF VELA MICROBOARDS NI LIMITED
Opinion
We have audited the financial statements of Vela Microboards Nl Limited for the year ended 31 March
2022 which comprise the Statement of Financial ActlVLt(es, the Balance Sheet, the statement of cash flows,
the Accounting PolLCLes and the related notes. 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} and Financial Reporting Standard 102.
In our opinion the financial statements:
give a true and fair view of the charitable company's affairs as at 31 March 2022 and of its incoming
resources and application of resources, 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
Basis for oplnlon
We conducted our audit in accordance with International Standards on Auditing (UK) IISAS IUKJ) and
applicable law. Our responsibilities under those standards are further described in the Auditor's
responsibil(ties for the audit of the accounts section of our report. We are independent of the charity in
accordance with the ethical requirements that are relevant to our audit of the accounts 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.
Conclusions relatlng 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 charity's ability to
continue as a going concern for a period of at least twelve months from when the financial statements are
authorsed for issue.
Our responsibtltties and the responsibilities of the directors Wlth respect to going concern are described in
the relevant sections of this report.

INDEPENDENT AUDITOR'S REPORT
to the Member8 of VELA MICROBOARDS NI LIMITED
{A company Ilmlted by guarante•, not having a share capital)
Other Infomiation
The other information comprises the information included in the annual report, other than the accounts
and our auditor's report thereon. They are responsible for the other information contained within the
annual report. Our opinion on the financial statements does not cover the other information and we do
not express any form of assurance conclusion thereon. Our responsibility LS to read the other information
and, in doing so, consider whether the other information is materially inconsistent Wlth the accounts or
our knowledge obtained in the audit or otherwise appears to be materially mL55tated. If we identtfy such
material inconsistencies or apparent material misstatements, we are required to determine whether there
is a material misstatement in the accounts or a material misstatement of the other information. 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.
We have nothing to report in this regard,
Matters on whlch we are requlred to report by exceptlon
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts
and Reports) Regulations 2008 require 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 WLth the accounting records and returns., or
certain disclosures of directors, remuneration specified by law are not made,. or
we have not received all the information and explanations we require for our audit.
Responslbilities of Trustees
As explained more fully in the Statement of Responsibilities, the trustees, who are also the directors of the
for the purpose of company law, 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 accounts that are free from material misstatement, whether due
to fraud or error. In preparing the accounts, they are responsible for assessing the companls abiltty to
continue as a going concern, disclosing, as applicable, matters related to going concern and using the
going concern basis of accounting unless they either intend to ILqULdate the company or to cease
operations, or have no realistic alternative but to do so.

INDEPENDENT AUDITOR'S REPORT
to the Members of VELA MICROBOARDS NI LIMITED
IA company Ilmlted by guarantee, not havlng a share capital)
Auditor's responsibilities for the audit of the fLnancial statements
We have been appointed as auditor under Section 65 of the Charities Act {Northern Ireland) 2008 and
report in accordance with the ACT and relevant regutations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements 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 (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 accounts,
The extent to which our procedures can detect irregularitie5, Lncluding fraud, is detailed below.
We obtained an understanding of the legal and regulatory framework applicable to the company through
enquiry of management, industry research and the application of cumulative audit knowledge. We
identified the following principal laws and regulations relevant to the company- Companies Act 2006 and
the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102).
We developed an understanding of the key fraud risks to the entity (including how fraud might occur), the
controls in place to help mitigate those risks, and the accounts, balances and disclosures within the
financial statements which may be susceptible to management bias. Our understanding was obtained
through review of the financial statements for significant account(ng estimates, analysis of journal entries,
walkthrough of the key controls cycles tn place and enquiry of management.
Our procedures to respond to those risks (dentified included, but were not limited to:
Identifying and assessing the design of key controls impLemented by management to prevent and
detect fraud,-
Enquiry of management and those charged with governance,.
Performance of analytical procedures to identtfy unusual relationships which may indicate a risk of
fraud or an irregularity,.
Journal entry testing - including analysis of the general ledger to identify entries deemed to represent
higher risk of fraud or error,. and
Assessment of the reasonableness of judgements made by management in accounting estimates.
The inherent limitations of an audit mean that there will always be a risk that irregularities will go
undetected, including those which may ultimately lead to a material misstatement. This risk ￿ considered
greater where an irregularity results from fraud including misrepresentation, collusion, and forgery.
A further description of our responsibilities for the audit of the accounts is located on the Financial
Reporting Council's website at: http'.l/www.frc.org.uk/auditorsresponsibilities. This description forms part
of our auditor's report.
10

INDEPENDENT AUDITOR'S REPORT
to the Members of VELA MICROBOARDS NI LIMITED
(A company Ilmltsd by guarants•. not havlng a share capltal)
IDaL
Brendan Malone (Senior Statutory Auditor)
for and on behalf of
MALONE ACCOUNTING LIMITED
Chartered Accountants and Statutory Auditors
12 New Street
Newry
Co. Down
BT35 6JD
Northern Ireland
Dat•: 6 Septemb•r 2023
11

VELA MICROBOARDS NI LIMITED
{A company limited by guarantee, not having a share capital)
STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT)
YEAR ENDED 31 MARCH 2023
Restricted Total Fund5
Funds
2023
Total Funds
2022
Notes
Income:
Investment income
21
21
Income from charitable activities
Total Income
232
5.253
158
3.164
5.253
Ex
Charitable Activities
Total Expendlture
5.232
5.232
3.158
Net Income
21
21
Reconclllatlon of Funds
Total funds brought forward
Total funds carried forward
14
14
14
14
The Statement of Financial ActLVLties includes all gains and losses in the year and therefore a statement of
total recognised gains and losses has not been prepared.
AU of the above relate to continuing activities.
The nol8s on pages 13 to 17 fo￿ part of these financial statements
12

VELA MICROBOARDS NI LIMITED
(A company limited by guarantee, nol having a share capital)
Company Number: N1050033
BALANCE SHEET
as at 31 March 2023
2023
2022
Notes
Current Assets
Cash at bank and in hand
15.717
16.478
Net Current Assets
15.717
16.478
Total Assets less Current Liabilities
15.717
16,478
Deferred Income
io
(1,368)
(2.150)
Net A￿et$
14.349
14.328
Funds
Restricted income funds
Unrestricted income funds
11
14.349
14.328
Total Funds
14.349
14.328
The company is entLtled to the exemption from the audit requirement contained in section 477 of the
Companies Act 2006, for the year ended 31 March 2023, although an audit has been carried out under
section 65 of the Charities Act (Northern Ireland) 2008. No member of the company has dep05Lted a
notice, pursuant to section 476, requiring an audit of these financial statements under the requirements
of the Companies Act 2006.
The trustees acknowLedge their responsibilities for ensuring that the charity keeps accounting records
which comply with section 386 of the Act and for preparing financial statements which give 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, for the financial year in
accordance with the requirements of sections 394 and 395 and which otherwise comply with the
requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the
company,
These financial statements hav
companies subject to the small c
been prepared in accordance with the provisLons applicable to
panies, regirne.
The financial statements were a
ved by the Trustees on 6 September 2023.
Mr. Feargal Mc Cormack
Director
Company Number.. N1050033
The notes on pape8 13 to 17 fom part of these financial slalements
13

VELA MICROBOARDS NI LIMITED
IA company limited by guarant9e, not havlng a share capltal}
CASH FLOW STATEMENT
for the yéar ended 31 March 2023
2023
2022
Note8
Cash flow8 from operatlng activitleJ
Cash (absorbed by) from operations
{782}
1,142
Inve8tlng actlvltle8
Interest Received
21
Net cash generated from Inve8ting activltles
21
Net cash u88d In financing activities
N8t (d8crease)lincreas8 in cash and cash
equivalen18
{761)
1,148
Reconclllatlon of not cajh flow to
movement In net funds
Movement In cash In tho year
Not fund8 at 1 Aprll 2022
(7611
16,478
1,148
15,330
Net fund8 at 31 March 2023
15,717
16.478
14

VELA MICROBOARDS NI LIMITED
IA company limited by guarantee, not having a share capital)
NOTES TO THE FINANCIAL STATEMENTS
continued
for the year ended 31 March 2023
I. BASIS OF PREPARATION
The financial statements have been prepared in accordance with Accounting and Reporting by
Charities: Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS
102) (effective l January 2019) (Charities SORP (FRS 102)), the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 102) and the Companies Act 2006. Vela
Microboards Nl Limited meets the deflnition of a public benefit entlty under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless otheNise stated in the
relevant accounting policy note(s).
Company Ststus
The charity is a company limited by Guarantee. The members of the company are the trustees
named on page 3. In the event of the charity being wound up, the liability in respect of the
guarantee is limited to £1 per member of the charity.
Fund accountlng
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Charity and which have not been designated for other
purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees
for particular purposes.
General funds may be transferred to designated funds where Trustees wish to use these funds for a
specific purpose. Such funds may be transferred back to general funds once the criteria for the
designation have been met or are no longer applicable.
Restricted funds are funds which are to be used in accordance with specifLC restrictions imposed by
donors or which have been raised by the Charity for particular purposes. The cost of raLSLng and
administering such funds are charged against the specific fund. The aim and use of restricted funds
is set out in the notes to the financial statements. Restricted funds may only be transferred to
general or designated funds once the criteria for restriction have been discharged or no longer
apply.
Income
All incoming resources are included in the Statement of Financial Activities when the charity is
legally entitled to the income and it is probable the income will be received. Grants, service
agreement, fee income and grants for equipment are recognised in the SOFA in the period in
which they are receivable. Income is deferred only when the charity has to fulfil conditions before
becoming entltled to Lt or where the donor/funder has specified that the income is to be expended
in a future period.
Expendlture
Resources expended are included in the Statement of Financial Activities on an accruals basis,
inclusive of any VAT which cannot be recovered.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its actlVLties
and seNices for its beneficiaries. It includes both costs that can be allocated directly to such
activities and those costs of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory
requirements of the charity and include the audit fees and costs linked to the strategic
management of the charity.
15

VELA MICROBOARDS NI LIMITED
IA company limited by guarantse. not havlng a share capital)
NOTES TO THE FINANCIAL STATEMENTS
continued
for the year ended 31 March 2023
All costs are allocated between the expenditure categories of the Statement of Financial Activities
on a basis designed to reflect the use of the resource. Costs relating to a particular actlvity are
allocated directly, others are apportioned on an appropriate basi5.
Tangible r￿ed assets and depreclation
Tangible fixed assets are stated at cost or at valuation, less accumulated depreciation. The charge
to depreciation is calculated to write off the original cost or valuation of tangible fixed assets, less
their estimated restdual value, over their expected useful lives as follows..
Fixtures, fittings and equipment
-25% straight line
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if
events or changes in circumstances indicate the carrying value may not be recoverable.
Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short
maturity of three months or less from the date of acquisition or opening the deposit or similar
account.
Flnancial Instruments
The charity only has financial liabilities of a kind that qualify as basic fLnancial instruments.
Golng concern
At the time of approving the financial statements, the trustees have a reasonable expectation that
the charity has adequate resources to continue in operational extstence for the foreseeable future.
Thus the trustees continue to adopt the going concern basis of accounting in preparing the
financial statement,
2.Critical accountlng estlmates and Judgemènts
In the application of the charity's accounting policies, the trustees are required to make
judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are
not readily apparent from other sources. The estimates and a5SOCLated assumptions are based on
historical experience and other factors that are considered to be relevant. Actual results may differ
from these estimates.
16

VELA MICROBOARDS NI LIMITED
IA company limited by guarantse, not havlng a share capltall
NOTES TO THE FINANCIAL STATEMENTS
continued
for the year ended 31 March 2023
3. INVESTMENT INCOME
Restricted
Funds
Total Funds
2023
Total Funds
2022
Bank Interest Receivable
The 2022 figure of £6 was as treated as
restricted
21
21
INCOME FROM CHARITABLE ACTIVITIES
Restricted
Funds
Total Funds
2023
Total Funds
2022
Health and Social Care Board
The 2022 total of £3,158 was all treated as restricted
5.232
5.232
3,158
COST OF CHARITABLE ACTIVITIES BY FUND TYPE
Restricted
Funds
Total Funds
2023
Total Funds
2022
Microboards activity
The 2022 total of £3,158 was all treated as
restricted
5.232
5.232
3,158
NET INCOMING RESOURCES FOR THE YEAR
This is stated after charging
Total Funds
2023
Total Funds
2022
Depreciation
Auditors Remuneration:
Audit of the financial statements
STAFF COSTS AND EMOLUMENTS
There were no staff costs incurred by the charity during the year.
No employee received remuneration of more than £60,000 during the year (2022: Nil)
TRUSTEES REMUNERATION
None of the trustees has been paid any remuneration or received any other benefits from an
employment WLth the charity or a related party.
No trustee5 were reimbursed for any expenses.
17

VELA MICROBOARDS NI LIMITED
IA eompany Ilmlted by guarantee. not having a Share capltal)
NOTES TO THE FINANCIAL STATEMENTS
continued
for the year ended 31 March 2023
TANGIBLE FIXED ASSETS
Flxtures.
ftttLngs
and
equlpment
Total
Cost
At 31 March 2023
821
821
Depreciation
At 31 March 2023
821
821
Net book value
At 31 March 2023
io.
DEFERRED INCOME
2023
2022
Deferred Income
2,150
1,008
Movement in Deferred Income
At l April 2022
Movement in year
2,150
{782)
1,008
1,142
At 31 March 2023
1,368
2,150
11. Restricted Income funds
Balance at
l Apr 2022
Incoming
Resources
Outgoing
Resources
Balance at
31 Mar 2023
Restricted Funds
14,328
5.253
5,232
14.349
18

VELA MICROBOARDS NI LIMITED
(A Company Ilmtted by guarantsfr, not havlng a share ¢apltal)
NOTES TO THE FINANCIAL STATEMENTS
continued
for the year ended 31 March 2023
12.
ANALYSIS OF NEf ASSETS BETWEEN FUNDS
Net Current
Assets
Deferred
Income
Total
Restricted Income Funds
Restricted funds
Unrestricted funds
15,717
(1,368)
14.349
Total Funds
15,717
(1,368)
14.349
19