Company Number:N1050033
Charity Number: XR62733
CCNI R8gl8tration number: NIC100927
VELA MICROBOARDS NI LIMITED
IA company Ilmlted by gu•rant•e, not havlng a share chpltal)
Directors, Report and Financlal Statements
for the year ended 31 March 2025

VELA MICROBOARDS NI LIMITED
{A company limited by guarantee, not having o share capltall
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
IA company Ilmlted by guarantee. not having a share capital)
REFERENCE AND ADMINISTRATIVE DETAIL
Directors
Ms Marian Corrigan
Mr Feargal Mccormack
Ms Alison Rooney
Ms Caroline Preston
Ms Rebecca Coyle
Ms Elizabeth Dixon
Mr John McAndrew
Company Number
N1050033
Charity Number
XR62733
CCNI Registration Number
NIC 100927
Reglstered Offlce
Dromalane Mill
The Quays
Newry
BT35 8QS
AudLtor5
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 company limited by guarantee, not havlng a share capltal}
DIRECTORS, ANNUAL REPORT
lor the year ended 31 March 2025
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 2025. 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 individuals
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 Marian Corrigan
Ms Rebecca Coyle
Ms. Elizabeth Dixon
Mr John McAndrew
Mr Feargal Mccormack
Ms Suzanne Mcstravick (Resigned 30 September 2024)
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 management 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
FLnanciaL Revlew
The results for the year show a net surplus of £26412024.. surplus of £1791.
Directors
The Directors who seNed the company during the year are listed above.
The role of the Board of Directorsff rustees is to ensure Vela Microboards Nl Ltd is effectively governed, that
it complies W(th 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 board operate in accordance with the rules set down in the Articles of Association. The Board of
t)irectors is required to meet at least 4 times per year.

VELA MICROBOARDS NI LIMITED
IA company limited by guarantee, not havlng a share capital)
DIRECTORS, ANNUAL REPORT
lor the year ended 31 March 2025
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 briefs them on all the key aspects of the charity and the
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
2024/2025 the Council met on 4 occasions.
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 provision of presentations to various community and Social
Service groups.
We have established links with relevant voluntary organisations to assist Wlth the promotion of Vela
Microboards.
We have updated our website, w
and distributed.
nicr
ai-dsiii,c
ri i. Promotional material has been developed
METHOD OF APPOINTMENT OF ELECTION OF DIRECTORS
The Directors are appointed annually by the members of the Company at an Annual General Meeting. Any
Director 50 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 t(me to appoint any
person to be a Director, either to fill a casual vacancy or as an addition to the existing Directors.
Unless otherwise determined by the Company in the General Meeting, the number of Directors shall not
be more than sijteen nor less than five.
ORGANISATIONAL STRUCTURE AND DECISION MAKING
None of the Directors have any benefLCLal interest in the company. All the directors are members of the
company and guarantee to contribute £1 in the event of a winding up.
Decisions at General Meetings shall be made by passing resolutions. Decisions involving an alteration of
the Memoranclum and Articles of Association of the Company and other decLSLons 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.

VELA MICROBOARDS NI LIMITED
IA company limited by guarantog, not havlng a share capltal)
DIRECTORS, ANNUAL REPORT
lor the year ended 31 March 2025
All other decisions shall be made by ordinary resolution requiring a simple majority of members present
and voting.
RISK MANAGEMENT
The Directors have assessed the major risks to which the company is exposed, in 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 reserves 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.
It is the policy of the trustees to maintain reseNes at a sufficient level for the Charity to continue its actLVLties
Total restricted funds of the charity at 3 1 March 2025 were £14,792.
TRUSTEES, RESPONSIBILITIES STATEMENT
The trustees (who are also the directors of Vela Microboards Nl 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. U nder that law the trustees
have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting
Practice (United Kingdom Accounting Standards and applicable lawl. 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 per(od.
In preparing these accounts, the trustees are required to.,
select suitable 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 bas(s unless it is inappropriate to presume that the charity
will continue in operatLOn.
The trustees are responsible for keeping 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 irregular(ties.

VELA MICROBOARDS NI LIMITED
IA company Ilmlted by guarantee. not having a share capltall
DIRECTORS. ANNUAL REPORT
for the year ended 31 March 2025
AUDITOR
Malone Accounting Limited, Chartered Accountants and Statutory Auditors, are deemed to be re-
appointed under section 487(2} 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 information and to establish that the charity's auditor is aware of that
information.
Signed on behalf of the trustees
Feargal
Dlrector
ccormack
Registered office.,
Dromalane Mill
The Quays
Newry
BT35 8QS
D4te: 22 September 2025

INDEPENDENT AUDITOR'S REPORT
to the Members of VELA MICROBOARDS NI LIMITED
IA company limitod by guarantee, not having a shore capital)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF VELA MICROBOARDS NI LIMITED
Oplnlon
We have audited the financial statements of Vela Microboards Nl Limited for the year ended 31 March 2025
which compr(se the Statement of Financial ActLVLties, the Balance Sheet, the Statement of cash flows, the
Accounting Policies 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 2025 and of (ts 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
Basls for oplnlon
We conducted our audit in accordance with International Standards on Auditing IUKI IISAS (UK)) and
applicable law. Our responsibilities under those standards are further described in the Auditor's
responsibilities 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 U K, 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.
Concluslons relatlng to golng 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 authorised
for (ssue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in
the relevant sections of this report.

INDEPENDENT AUDITOR'S REPORT
to the Members of VELA MICROBOARDS NI LIMITED
IA company limited by guarantee, not having a share capital)
Other Information
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 respons(bil(ty is to read the other (nformation and, (n doing
so, consider whether the other information is materially inconsistent with the accounts or our knowledge
obtained in 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 there
is a material misstatement in the accou nts 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 thts 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 exception
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 VLSLted 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
we have not received all the information and explanations we require for our audit.
Responslb(Iltles 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 company's ability 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 limited by guarantee, not having a share capltall
Auditor's responsibilities for the audit of the financial 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 regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements are free from
materlal 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 w(th ISAS IUKI 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 irregularities, including 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 U K and Republic of Ireland IFRS 102).
We developed an understanding of the key fraud risks to the entlty (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 accounting estimates, analysts of journal entries, walkthrough of
the key controls cycles in place and enquiry of management.
Our procedures to respond to those risks identified 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 identify 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 a
higher risk of f raud or error,. and
Assessment of the reasonableness ofjudgements made by management in accounting estimate5,
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 is considered
greater where an irregularity results f rom 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'.//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
IA Company IlmSt•d by guarant••, nol havlng • •hare cawiall
Brend•n Malone (Senlor Audltor)
For and on behalf of
MALONE ACCOUNTING LIMITED
Chartered Accountants and Statutory Auditors
12 New Street
Newry
Co Down
BT35 6JD
Northern Ireland
Dat•: 22 S•pt•mb•T 2025
11

VELA MICROBOARDS NI LIMITED
(A company limited by guarantee, not having a share capltall
STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT)
YEAR ENDED 31 MARCH 2025
Restricted Unrestricted TotaL Funds
Funds
Funds
2025
Total Funds
2025
Notes
Investment income
264
264
179
I ncome from charitable actLVities
Total Income
20
2,467
800
1,667
2,095
Ex
endltur
Charitable Activities
Total Expendlture
536
1,667
2,203
1.916
Net Income
264
264
179
Reconciliation of Fund
Total funds brought forward
Total funds carrled forward
The Statement of Financial Activities (ncludes all gains and losses in the year and therefore a statement of
total recognised g3Lns and losses has not been prepared.
All of the above relate to continuing activities.
The notes on pages 15 10 19 form part of these financial
81atemenls
12

VELA MICROBOARDS NI LIMITED
IA company Ilmlted by guarantee, not havlng a share capltall
Company Number.. N1050033
BALANCE SHEET
as at 31 March 2025
2025
2024
Notes
Current Assets
Cash at bank and in hand
20,011
20.230
Net Current Assets
20.011
20.230
Total Assets less Current Llabllitie5
20.011
20,230
Deferred Income
io
(5,219)
(5.702)
Net Assets
14.792
14.528
Funds
Restricted income funds
Unrestricted income funds
11
12
14,792
14.528
Total Fund$
14.792
14.528
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 2025, although an audit has been carried out under
section 65 of the Charities Act (Northern Ireland) 2008. No member of the company has deposited 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 financ(al 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 have been prepared in accordance with the provistons applicable to
companies subject to the small companies, regime,
The financial statements were approved by the Trustees on 22 September 2025.
Feargal
Dlrector
ccormack
Company Number.. N1050033
The notes on pages 13 to 17 form part of these financial statements
13

VELA MICROBOARDS NI LIMITED
(A Gornpany limited by guarantee, not having a $harg capital)
Company Number.. N1050033
STATEMENT OF CASH FLOWS
YEAR ENDED 31 MARCH 2025
2025
2024
Notes
Cash IIow8 from operatlng actlvitl88
Cash labsort)ed by) l used in operations
(483)
4,334
Invesllng actlvltl88
Interest Received
264
179
Net cash generated from Inve8tlng 8Ctlvlt1è8
264
179
Net cash used In flnanclng actlvStleg
Not increase/ Ide¢reasel in cash and cash
equivalents
12191
4,513
ReconcSllatlon of not ca8h Ilow to
movement In net fund8
Movement In ca8h In the year
Net fund8 at 1 Aprll 2024
1219)
20,230
4,513
15,717
Nel funds at 31 March 2025
20,011
20,230
The notes on pages 15 to 19 form part ol thase financial slalemenls
14

VELA MICROBOARDS NI LIMITED
IA company limited by guarantee, not having a Share capltall
Company Number.. N1050033
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 IFRS
102) (effective 1 January 2019) (Charities SORP IFRS 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 definition of a public benefit entity under FRS 102. Assets and liabilities are
initially recognised at historical cost or transaction value unless otherwise stated in the relevant
accounting policy notels).
Company Status
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 flsnds 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 specific restrictions imposed by
donors or which have been raised by the Charity for particular purposes. The cost of raising 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 fu nds once the criteria for restriction have been discharged or no longer apply.
Income
All incomtng resources are included in the Statement of Financial ActiVLties 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 entitled
to Lt or where the donor/funder has specified that the income is to be expended in a future period.
Expenditure
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 activities
and services 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 assoc(ated with meeting the constLtut(onal and statutory
requirements of the charity and include the audit fees and costs linked to the strategic management
of the charity.
The notes on pages 15 to 19 form part ol these financial statements
15

VELA MICROBOARDS NI LIMITED
{A company Ilmlled by guarantee, not having a share capital)
Company Number: N1050033
All costs are allocated between the expenditure categories of the Statement of Financial ActlVLties on
a basis destgned to reflect the use of the resource. Costs relating to a particular actLVLty are allocated
directly, others are apportioned on an appropriate basis.
Tanglble fixed 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 residual value, over their expected useful lives as follows:
Fixtures, fittings and equipment
-25% straight line
The carrying values of tangible fued 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 financial 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 existence for the foreseeable future.
Thus the trustees continue to adopt the going concern basis of accounting in preparin9 the
financial statement.
2.Crltlcal accountlng e5tlmates and Judgements
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 associated assumptions are based on
historical experience and other factors that are considered to be relevant, Actual results may differ
from these estimates.
3. INVESTMENT INCOME
Unreslrlcled Total Funds
Funds
2025
Total Funds
2024
Bank Interest Receivable
The 2024 figure of £179 was as treated as
restricted
The notes on pages 15 to 19 form part ol thes8 financial statements
16

VELA MICROBOARDS NI LIMITED
IA company limited by guarantee, not having a share capital)
Company Number: N1050033
INCOME FROM CHARITABLE AcfiviTIES
Resiricted Unrestficted Total Funds
Funds
Funds
2025
Total
Funds
2024
Heallh and Social Care Board
Arts Council of Northern Ireland
Donation
1,916
800
800
1,403
1,403
The 2024 total of £1,916 was all treated as reslricted
COST OF CHARITABLE AcfiviTIES BY FUND TYPE
Reslr(cted Unrestricted Total Funds
Funds
Funds
2025
Total
Funds
2024
Microboards activity
536
1,667
2,203
1,916
The 2024 tolal of £1,916 was all treated as
restricted
NET INCOMING RESOURCES FOR THE YEAR
This is stated after charging
Total Funds
2025
Total Funds
2024
Auditors Remuneralion..
Audit of the financial statements
7. STAFF COSTS AND EMOLUMENTS
There were no stafl costs incurred by the charity during the year.
No employee received remuneralion of more than £60,000 during ihe year12024.' Ntly
8. TRUSTEES REMUNERATION
None of the trustees has been paid any remuneration or received any other benefits from an
employment with the charity or a related party.
No trustees were reimbursed for any expense&
The notes on pages 15 to 19 form part ol these financial statements
17

VELA MICROBOARDS NI LIMITED
IA company limited by guarantee, not having a share capital}
Company Number: NIQ50033
TANGIBLE FIXED ASSETS
Fixtures,
flttin9S
and
equlpment
Total
Cost
At 31 March 2025
821
821
Depreclatlon
At 31 March 2025
821
821
Net book value
At 31 March 2025
io.
DEFERRED INCOME
2025
2024
Deferred Income
5.219
5,702
Movement in Deferred Income
At l April 2024
Movement in year
S,702
14831
1,368
4,334
At 31 March 2025
5,219
5.702
11. Restricted Income funds
Balance at
l Apr 2024
Incoming
Resources
Outgoing
Resources
Balance at
31 Mar 2025
Restricted Funds
14,528
800
(536)
14,792
The notes on pages 15 to 19 form part of thes8 financial slalements
18

VELA MICROBOARDS NI LIMITED
{A company limited by guarantge, not havlng a 8hare capltall
Company Number: NIO50033
12. Unrestrlcted income funds
Balance at
l Apr 2024
Incoming
Resources
Outgoing
Resources
Balance at
31 Mar 2025
Unrestrtcted Funds
1,667
11,6671
13. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Net Current
Assets
Deferred
Income
Totsl
Restricted Income Funds
Restricled funds
Unrestricted funds
20,011
(5,2 191
14,792
Total Funds
20,011
(S,2811
14,730
14. Related Parti•s
At the year end, there were no balances owed to or from the related parties of the charity.
The notes on pages 15 10 19 form part of these financial slalemenls
19