Company Registration Number: N1026500
Charity Registration Number: 101482
The Verbal Arts Centre (Northern Xreland) Limited
(Charitable Company Limited by Guarantee)
Annual Report and Audited Financial Statements
For the year ended 31 March 2024
CavanaghKelly
Chartered Accountants and Statutory Auditors
36-38 Northland Row
Dungannon
Co Tyrone
BT71 6AP

The Verbal Arts Centre
Northern Ire
and
Limited
Charitab
ecom
an
Limited b Guarantee
CONTENT
For the
ended 31
rch 2024
Page
General Information
Directors, Report
Independent Auditor's Report
9-12
Statement of Flnancial Activities
13
Statement of Financial Position
14
statement of Cash Flows
15
Notes to the Financial Staternents
16-30

The Verbal Arts Centre
Northern Ireland
Limited
Charitable Com
an
Limited b Guarantee
GENERAL INFORMATION
Board of Directors
Joseph Mark Moroney (reslgned 31 January 2024)
Padraig Canavan (resigned 31 January 2024)
Patrick Gerald Cleary (resigned 12 May 2024)
steven Lindsay
June Elizabeth Coates
Jason Alexander McIntosh
Valerie Jane Dinsmore
Clara Hanley
Paul Anthony Healy
Dr Catherine McDonnell (appointed 29 July 2023)
Company Secretary
James Kerr
Chief Executive
James Kerr
Registered Office
stable Lane and Mall Wall
Bishop Street Within
Derry/Londonderry
BT48 6PU
Company Registration Number
N1026500
Charity Registration Number
101482
Independent Auditors
CavanaghKelly
Chartered Accountants and Statutory Auditors
36 - 38 Northland Row
Dungannon
Co Tyrone
BT71 6AP
Solicitors
Mark Reid Solicitor
2A Woodburn Park
Lisnagelvin
Waterside
Derry/Londonderry
BT47 5PS
Bankers
Allied Irish Banks
Meadowbank
143-145 Strand Road
Derry/Londonderry
BT48 7TN

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The Verbal Arts Centre
Northern Ireland
Limited
Charitable Com
Limited b Guarantee
STATE
NT OF FIN
CIAL POSITION
arch 2024
Note
2024
2023
Fixed Assets
Intangible Fixed Assets
Property, Plant and Equipment
74.294
846,497
920.791
884 595
884,595
Current Assets
Receivables
Cash and Cash Equivalents
io
263.746
271 325
535,071
327,092
601 234
928,326
Payables: amounts falllng due within
one year
li
(39,189)
(169,745)
Net Current Assets
Net Assets
495 882
1416 673
758 581
1643 176
12
REPRESENTED BY:
Unrestricted Funds
Restricted Funds
Designated Funds
Total Funds
13
13
13
13
1,037,143
79,530
300 000
1 416 673
1,259,226
83,950
300 000
1643 176
These financial statements have been prepared in accordance with the provisions applicable to
the small companies, regime within Part 15 of the Companies Act 2006.
The notes on pages 16 to 30 form an integral part of the financial statements.
These financial statements were approved and authorised for issue by the Board of Direttors on
6 December 2024 and signed on their behalf by:
Dirertor
Dr Catherine McDonnell
Director
Jason McIntosh
Com
an
istration Number: N1026500
stration N
AA
101482
14

The Verbal Arts Centre
Northern Ireland
Limited
Charitable Com
an
Limited b Guarantee
STATEMENT OF CASH FLOWS
or the
eare
ed 31 March
2024
2023
Cash flows from operatlng activities
(Deficit) for the year
(226,503)
(119,515)
Adjustments for:
Depreciation
Profit on Disposal
39,908
42,015
(207.795)
(77,500)
Movements in working capital:
Movement in receivables
Movement in payables
63,346
130 556
(67,210)
284,077
375,132
Net cash (used in)/generated from operating
artivities
{275,005)
297,632
Cash flows from Investing activitles
Intangible asset additions
Payments to acquire property, plant and equipment
Disposal proceed5
Net cash used in investing artivities
(74.294)
(1,810)
(11,535)
Net increase/{decrease) In cash and cash
equivalents
Cash and cash equivalents at beginning of
financial year
Cash and cash equivalents at end of flnancial
year
(329.909)
286,097
601,234
315,137
271,325
601,234
Cash and cash equivalents consists of..
2024
2023
Cash at bank and in hand
271 325
601 234
15

The Verbal Arts Centre
Northern Ireland
Limited
Charitab
ecom
an
Limited b Guarantee
NOTES T
For the
THE FINAN
ended 31
IAL STATEMENTS
ch 2024
I. GENERAL INFORMATION
The Verbal Arts Centre (Northern Ireland) Limited is a charitable company limited by guarantee
incorporated in Northern Ireland. In the event of the charitsble company being wound up, the
liability in respect of the guarantee is limited to £1 per member of the charitable company. The
address of the registered offfice is as shown on page 3.
The charitable company constitutes a public benefit entity as defined by FRS 102.
The financial statements are stated in £ sterllng which is the functional currency of the
charitable company.
2. ACCOUNTING POLICIES
The following accounting policies have been applied consistently in dealing with items whlch are
considered material in relation to the charitable company's financial statements.
2.1 statement of Compliance
The financial statements have been prepared in accordance with Accounting and Reporting
by Charites: Statement of Recommended Prartice (SORP) applicable to charities preparing
their financial statements in accordance with the Financial Reporting Standard applicable in
the UK and Republic of Ireland (FRS 102) effective l January 2019 (Second Edition), the
Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS
102), the Charities Act (Northern Ireland) 2008 and the Companies Act 2006.
2.2 Basis of Preparation
The financial statements have been prepared under the historical cost convention unless
otherwise stated in the relevant accounting policy. Historical cost is generally based on the
fair value of the consideration given in exchange for assets. The following accounting policies
have been applied consistently in dealing with items which are considered material in relation
to the charitable company's financial statements.
2.3 Going concern
The charitable company made a loss of £226,503 in the year (2023: £119,518) and saw cash
reserves fall by £329,909.
The charitable company has operated in a challenging economlc environment, which has
affected its ability to obtain grant funding in line wlth prior periods as larger funded projects
came to an end. However, since the year end the charitable company has boosted its
cashflow with receipt of long-standing debtors and has secured funding from a large grant
post year end. Advance payment is to be requested, In line with the temis of the grant,
whlch should further aid the cashflow for this project.
On the basis of the above, the trustees are confident of the charitable companies, ability to
continue operating for a period of more than 12 months. As a result, the financial statements
are prepared on a going concern basis.
16

The Verbal Arts Centre
Northern Ire
and
Limited
Charitable Com
an
Limited b Guarantee
NOTE
For the
THE FINANCIAL STATEMENT
ended 31 M
2024
contlnued
2. ACCOUNTING POLICXES (Continued)
2.4 Income and Endowments (Continued)
(i)Other Trading Activities
Voluntary income includes incoming resources from gifts, donations and grants and is
recognised in full in the Statement of Financial Attivities when receivable. Activities for
generating funds are commercial activities which are recognised as earned when the
related goods and services are provided.
(ii)Charitable Activitles
Incoming resources from charitable activities includes Income received under contract or
where entitlement to grant funding is subject to specific performance conditions. Income
will only be recognised as the specified goods and services have been provided by the
charity. Grant income included in this category provides funding to support projects and
is recognised where there is entitlement, certainty of receipt and the amount can be
measured with sufficient reliability.
2.5 Resources Expended
Expenditure is recognised when a liability is incurred. Contractual arrangements and
performance related grants are recognised as goods and services are supplied. Where costs
cannot be directly attributed to a particular heading they have been allocated to activities on
a basis consistent with use of resources. Staff costs and overhead expenses are allocated to
activities on the basis of staff time spent on those attivities.
(i)Charitable Activities
This compromises all the resources applied by the charity in undertaking its work to
meet its charitable objectives. Charitable artivities will include the costs of governance
arrangements which relate to the general running of the charity.
(il)Support Costs
Support costs include the central office functlons such as general management, payroll
administration, budgeting and accounting, information technology, human resources and
financing. These have been allocated to charitable activities, costs of generating funds
and governance costs on a basis consistent with the use of these resources.
2.6 Fund Accounting
The charity has three types of funds for which it is responsible at the year end:
Unrestrirted Funds - Funds whlch are expendable at the discretion of the directors in
furtherance of the objertives of the charlty. In addition, funds may be held in order to
finance capital investment and working capital.
Restrlcted Funds
Income received for specific purposes. Such purposes are within
the overall aims of the charity.
Designated Funds
Funds that have been specifically earmarked by the charity
towards its reserves policy. The charlty aims to maintain reserves of up to six months
expenditure.
17

The Verbal Arts Centre
Northern Ireland
Limited
Charitable Com
an
Limited b Guarantee
NOTES
Fort
O THE FINANCIAL STATEMENTS
r ended 3
arch 2024
continued
2. ACCOUNTING POLICIES (Continued)
2.7 PropertyA Plant and Equipment and Depreclation
All fixed assets are initially recorded at cost. The cost of flxed assets is thelr purchase cost,
together with any incidental costs of acquisition.
Depreciation is provlded at rates calculated to write off the cost less residual value of each
asset over its expected useful life, as follows:
Fixtures, fittlngs and equipment
Buildings
Motor vehicles
straight line
Straight line
Straight line
2%
2.8 Trade and Other Receivables
Trade and other receivables are initially recorded at fair value and thereafter stated at cost
less impairment losses for bad and doubtful debts.
2.9 Trade and Other Payables
Trade and other payables are initially recognised at fair value and thereafter stated at cost.
2.10 Taxation
As a charity, the charitable company is not liable to Corporation Tax.
2.11 Pension
Payments to defined contribution retirement benefit schemes are charged as an expense as
they fall due.
2.12 Financial instruments
The charitable company have chosen to adopt Sections 11 and 12 of FRS102 in respect of
financial instruments.
(i) Financial assets
Basic financial assets, including trade and other receivables, cash and bank balances and
amounts owed by group companies are Initially recognised at transaction price, unless the
arrangement constitutes a financing transaction, where the transaction is measured at the
present value of the future receipts discounted at a market rate of interest. Such assets are
subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed
for objective evidence of impairment. If an asset is impaired the impairment loss is the
dlfference between the carrying amount and the present value of the estimated cash flows
discounted at the asset's original effective interest rate. The impairment loss is recognised in
profit or loss.
18

The Verba
Charitab
Arts Centre
Northern Ire
and
Limited
ecom
Limite
b Guarantee
NOTES TO THE FINANCIAL ST
For the
ear
ded 31 March 2
TEMENTS
ntin
ed
2. ACCOUNTING POLICIES (Continued)
2.12 Flnancial instruments (continued)
If there Is a decrease in the impairment loss arising from an event occurring after the
impairment was recognised, the impairment is reversed. The reversal is such that the
current carrying amount does not exceed what the carrying amount would have been had
the impairment not previously been recognised. The impairment reversal is recognised in the
Statement of Financial Activities.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the
asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of
the asset are transferred to another party or (c) despite having retained some significant
risks and rewards of ownership, control of the asset has been transferred to another party
who has the practical ability to unilaterally sell the asset to an unrelated thlrd party without
imposing additional restrictions.
(li) Financial liabilities
Basic financial liabilities, including trade and other payables, bank loans and overdrafts and
hire purchase contracts are initially recognised at transaction price, unless the arrangement
constitutes a financing transaction, where the debt instrument is measured at the present
value of the future receipts discounted at a market rate of interest. Debt instruments are
subsequently carried at amortised cost, using the effective interest rate method. Fees paid
on the establishment of loan facilities are recognised as transaction costs of the loan to the
extent that it is probable that some or all of the facility will be drawn down. In this case, the
fee is deferred until the draw-down occurs. To the extent there is no evidence that it Is
probable that some or all of the facility will be drawn down. the fee is capitalised as a pre-
payment for liquidity services and amortised over the period of the facility to which it relates.
Trade payables are obligations to pay for goods or services that have been acquired in the
ordinary course of business from suppliers. Accounts payable are classified as current
liabilities if payment is due within one year or less. If not, they are presented as non-current
liabilities. Trade payables are recognised initially at transaction price and subsequently
measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the
contractual obligation is discharged, cancelled or expires.
2.13 Critical a¢¢ountlng estimates and judgements
In the application of the charitable company's accounting policies, the Trustees are required
to make judgements, estimates and assumptions about the carrying amount 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.
The estimates and underlying assumptions are reviewed on an ongolng basis. Revisions to
accounting estimates are recognised in the period in which the estimate is revlsed where the
revision affects only that period, or in the perlod of the revision and future periods where the
revisions affects both current and future periods.
19

The Verba
Arts Centre
Northern Ireland
Limited
Charitable C
an
Limite
b Guarantee
NOTES TO THE FINANCIAL
TATEMENTS
For the Year E d d 31 March
Contin
ed
3. INCOME AND ENDOWMENTS
Unrestricted
Funds
2024
Restricted
Funds
2024
Total
Funds
2024
Income from Charitable Activities
Arts Council Northern Ireland:
Core Funding
Arts & Older People
REAP
Community Project
Digital Evolution ProJect
Derry City Council:
Core Funding
TBUC- End of project payment
DOH Carers Fund
Ulster Garden Villages
Creative Connections
DCSDC- European Open Heritage Day
DCSDC- Culture night
Supporting POCA
DCSDC- Sbookybones
Macmillian Centre
DCSDC- Halloween
Rayne Found
St Stephen's Green Trust
Clear STF
Radius Houslng
Cultural Canvas
Department of Economy
The Community Foundation
Dormant Accounts Fund NI
Other
Total Income from Charitable Activities
210,820
3,759
978
4,000
4,504
210,820
3,759
4,000
4,504
17,000
126
27,020
13,300
6,934
498
400
10,060
972
4,893
2,000
20,000
5,891
3,893
5,036
1,043
1,629
5,000
39,834
17,000
126
27,020
13,300
6,934
498
400
10,060
972
4,893
2,000
20,000
5,891
3,893
5,036
1,043
1,629
5,000
39,834
12,044
401,634
Prevention Services
12,044
12,044
389,590
20

The Verbal Arts Centre
Northern Ire
and
Limited
Charitable Com
an
Limited b Guarantee
OTES TO THE FINANC
the Year Ended
STATEMENT
arch 2024
ntinued
3. INCOME AND ENDOWMENTS (Continued)
Unrestricted
Funds
2024
Restricted
Funds
2024
Total
Funds
2024
Other Trading Artivities
Education Fees
Room Hire
Catering and Refreshments
Media
Digital Storytelling
Online Courses
Research services
8,905
15,732
345
1,643
5,425
2,671
4,019
8,905
15,732
345
1,643
5,425
2,671
4,019
Total Income from Other Trading
Activities
38,740
38,740
Total Income
50,784
389 590
440 374
21

The Verbal Arts Centre
Northern Ireland
Limited
Charitable C
an
Limited b Guarantee
NOTES TO THE FINANCIAL STATEMENTS
For the Year E
ed 31 March 20
ued
3. INCOME AND ENDOWMENTS (Continued)
COMPARATIVE INCOME AND ENDOWMENTS
Unrestricted Restricted
Funds
Funds
2023
2023
Total
Funds
2023
Income from Charltable Activities
Arts Council Northern Ireland:
Core Funding
Equipment funding
Arts & Older People
REAP
Derry City Council:
Core Funding
Children in Need
The Community Foundation
Services
Trinity College
Garffield Weston
Culture Night
Foyle Foundation
Verbal Wellbeing:
Western Area
Belfast Area
Intervention Services
Recovery Services
Other
Total Income from Charitable Activities
208,320
11,450
4,493
8,797
208,320
11,450
4,493
8,797
17,000
9,830
49,717
17,000
9,830
49,717
Prevention
3,202
40,000
300
20,000
3,202
40,000
300
20,000
4,293
4,293
4,293
4,293
498,697
68,850
54,547
381,695 1,003,789
498,697
68,850
54,547
622,094
22

The Verbal Arts Centre
Northern Ireland
Limited
Charitab
ecom
an
Limited b Guarantee
NOTES T
For the Y
THE FINANCIAL STATEMENTS
Ended 31 M
2024
C ntinued
3. INCOME AND ENDOWMENTS (Continued)
COMPARATIVE INCOME AND ENDOWMENTS
Unrestricted
Funds
2023
Restricted
Funds
2023
Total
Funds
2023
Other Tradlng Activities
Education Fees
Room Hire
Equipment Hire
Catering and Refreshments
Media
Other Income
Donations
1,600
5,186
255
55
4,177
1,600
5,186
255
55
4,177
900
900
Total Income from Other Trading
Activities
12,175
12,175
Total Income
634 269
381 695
1 015 964
4. RESOURCES EXPENDED
Unrestricted Restricted
Funds
Funds
2024
2024
Total
Funds
2024
Charitable Activities
Wages and Salaries
Project Facilitator Fees
Travel and Subsistence
Arts and Education Program Costs
Membership and Subscriptions
Printing and Stationery
Print and design costs
Telephone and Postage
Sundry expenses
Fundraising and Advertising
Provisions and catering costs
Depreciation
(Profit)/Loss on disposal
(Profit)/Loss on exchange
199,649
313,682
513,331
4,125
1,123
6,446
3,450
1,785
10,861
5,910
11,984
6,446
5,055
107
6,003
1,562
154
344
39,908
(21,200)
1,605
loo
6,175
126
154
(172)
1,436
344
30,926
(21,200)
8,982
221 960
343 470
565 430
23

The Verbal Arts Centre
Northern Ireland
Limited
Charitable Com
an
Limited b Guarantee
NOTES TO THE FINANCIAL STATEMENTS
Fort
ar Ended 3
arch 2024
Continued
4. RESOURCES EXPENDED (CONTINUED)
Unrestrlcted
Funds
2024
Restricted
Funds
2024
Total
Funds
2024
Support Costs
Recruitment Costs
Staff Training and Development Costs
Rent and Rates
Insurance
Computer Costs
Heat and Light
Cleaning
Repairs and Maintenance
Bank fees and Interest
Consultancy
Legal and Professional fees
Audit and Accountancy
4,296
4,783
1,644
4,070
18,759
417
730
3,654
1,079
11,150
314
li
4,296
6,216
1,644
12,070
25,723
19.350
730
11,372
1.079
11,142
314
1,433
8,000
6,964
18,933
7,718.
(8)
101 447
Total Expenses
272 867
394 010
666 877
Comparatlve Resources Expended
Unrestricted
Funds
2023
Restricted
Funds
2023
Total
Funds
2023
Charitable Activitles
Wages and Salaries
Project Facilitator Fees
Travel and Subsistence
Arts and Education Program Costs
Membership and Subscriptions
Printing and Stationery
Print and design costs
Telephone and Postage
Sundry expenses
Fundraising and Advertising
Provisions and catering costs
Depreciation
278,558
252,303
13,604
29,269
8,315
6,447
434
296,675
575,233
252,303
15,905
49,611
8.315
6,469
1,031
9.003
35,583
75
447
2,301
20,342
22
597
8,997
35,583
75
447
666 981
329 009
995 990

The Verba
Charitab
Arts Centre
Northern Ireland
Limited
ecom
an
Limited b Guarantee
NOTES TO THE FINANCIAL
For the Year
ded 31 Marc
TATEMENTS
024
Contlnued
4. RESOURCES EXPENDED (CONTINUED)
Comparative Resources Expended
Unrestricted Restricted
Funds
Funds
2023
2023
Total
Funds
2023
Support Costs
Recruitment Costs
Staff Training and Development Costs
Rent and Rates
Insurance
Computer Costs
Heat and Light
Cleaning
Repairs and Maintenance
Bank fees and Interest
Consultancy
Legal and Professional fees
Audit and Accountancy
Bad Debt Expense
2,492
7,312
2,314
5,230
27,757
8,304
3,492
43
495
2,535
7,807
2,314
12,561
33,302
19,917
3,492
17,702
1,078
31,885
3,020
6,879
7,331
5,545
11,613
17,702
1,078
31,085
3,020
1,879
800
5,000
139 492
Total Expenses
757 944
377 538 1 135 482
5. NET INCOME FOR THE YEAR
Net income is stated after charging:
2024
2023
Depreciation
Auditors, remuneration
39,908
42,015
6. AUDITORS, REMUNERATION
2024
2023
Auditor's remuneration
audit services
7,511
6,879
25

The Verbal Arts Centre
Northern Ireland
Limited
Charitable Com
Limited b Guarantee
NOTES TO THE FINANCIAL STATEMENT
or the Year Ended
arch 2024
Continu
7. STAFF COSTS AND EMPLOYEE BENEFITS
The average number of persons employed by the charltable company during the year was 18
(2023: 28).
The total staff costs and employee benefits were as follows..
2024
2023
Gross wages and salaries
Employers, national insurance contributions
Pension
456,251 502,954
37,794
43,867
513 331 568 222
One employee of the charlty earned between £60,000-£70,000 in the period in question.
7.1. DIRECTORS. REMUNERATION
The Directors received nor waived any remuneration or any other benefits during the year.
Travel expenses of £nil (2023: £Nil) were reimbursed to Directors for out of pocket costs.
8. INTANGIBLE FIXED ASSETS
Cost
At 31 March 2023
Additions
74,294
At 31 March 2024
74,294
Carrying Amount
At 31 March 2024
74,294
At 31 March 2023
26

The Verbal Arts Centre
Northern Ireland
Limited
Charitable Com
an
Limite
b Guarantee
NOTES TO THE FINANCIAL STATEMENTS
ar Ended 31 Marc
ntinued
9. PROPERTY, PLANT AND EQUIPMENT
Buildings
Fixtures,
fittings and
equipment
Motor
vehicles
Total
Cost
At 31 March 2023
Additions
1,680,074
238,891
1,810
85,290
2,004,255
1,810
{85,290)
1,920,775
Disposals
At 31 March 2024
(85,290)
1,680,074
240,701
Depreciation
At 31 March 2023
On disposals
Charge for the year
At 31 March 2024
814,323
220,047
85,290
(85,290)
1,119,660
(85,290)
39,908
1,074,278
33,601
847,924
6,307
226,354
Carrying amount
At 31 March 2024
832,150
14,347
846,497
At 31 March 2023
865,751
18,844
884,595
10. RECEIVABLES
2024
2023
Trade receivables
Other receivables
Prepayments
12,954
244,481
27,090
294,465
263 746
327 092
27

The Verbal Arts Centre
Northern Ireland
Limited
Charitable Com
an
Limited b
arantee
OTES TO THE FINANCIAL STATEMENTS
r the Year End
l March 202
continued
11. PAYABLES: amounts falling due within one year
2024
2023
Trade payables
Other payables
Accruals
Other taxes and soclal securities
8,707
772
10,898
138,071
772
19,431
169 745
12. ANALYSIS OF NET ASSETS
Restricted Unrestricted Designated
Funds
Funds
Funds
Total
Fixed Assets
Current Assets
Current Liabilities
18,828
63,520
(2,818)
901,963
171,551
(36,371)
920,791
535,071
(39,189)
300,000
Net Assets
1 037 143
300 000 1 416 673
28

The Verbal Arts Centre
Northern Ireland
Limited
Charitable Com
an
Limited b
arantee
NOTE
For the
THE FINAN
IAL STATEMENTS
r Ended 31 M ch 2024
continue
13. ANALYSIS OF FUNDS
Opening
Balance
Income
Expenditure
Transfer
Between
funds
Closing
Balance
rts Council North
Core Funding
Arts & Older People
Equipment Funding
H & S Funding
REAP
Digital Evolution
Project
Community Project
Cit Counci
CO￿ Funding
TBUC
DOH Carers fund
Ulster Garden villages
Creative Connections
TCF Prevention Services
European Open Heritage
Culture Night
Supporting POCA
SbookyBones
Macmillan Centre
DCSDC-Halloween 2023
Garfield Weston
Rayne Found
St Stephen's Green Trust
Beyond Pages
Foyle Foundation
Radius Housing
Cultural Canvas
Department of Economy
Dormant Accounts Fund
rn I eland
210,820
3,759
(210,820)
(3,470)
(4,920)
(4,058)
(9,775)
(3,635)
289
6,050
1,700
10,970
5,758
8,797
978
4,504
869
4,000
4,000
Der
17,000
126
27,020
13,300
6,934
5,000
498
400
10,060
972
4,893
2,000
(17,000)
(126)
(19,927)
(13,300)
(6,934)
(29,688)
(498)
(400)
(3,296)
(972)
(4,893)
(2,000)
(21,316)
(6,453)
(2,321)
(3,894)
(11,890)
(3,201)
(683)
(1,154)
(7,122)
7,093
24,688
6,764
21,583
267
13.547
3,570
20,000
5,891
3,894
11,890
5,036
1,043
1,629
39,833
1,835
360
475
32,711
Verbal Wellbein
Western Area
Belfast Area
132
132
(132)
132
Total Restricted
Funds
83,950
389,590
{394,010)
79,530
Unrestricted Funds
1,259,226
50,784
(272,867)
1,037,143
Designated Funds
300,000
300,000
Total
1 643 176
440 374
666 877
1416 673
29

The Verbal Arts Centre
Northern Ireland
Limited
Charitab
ecom
an
Limited b Guarantee
NOTES T
For the Y
HE FINANCIAL STATEMENTS
Ended 31
ch 2024
continu
14. RESTRICTED FUND DESCRIPTIONS
The Verbal Arts Centre (Northern Ireland) Limited has a wide portfolio of funded projects. In
terms of funding value, the main funding sources/projects have been:
rts Council Northern Ireland:
Principal funding received from the Arts Council of Northern Ireland Annual Funding
Programme. This fund relates mainly to the general running and administrative core costs.
Council:
This is a fixed level of core funding awarded by Derry City Council on an annual basis which
provides contribution towards specifically defined operational costs.
15. CONTINGENT LIABILITIES
A contingent liability exists to repay grants received should certain conditions not be fulfilled by
the charitable company.
30