The Verbal Arts Centre Northern Ireland Limited Charitab ecom Limited b Guarantee DIRECT RS. REPORT for th ear ended 31 arch 2024 The Direttors, who are the trustees for the purpose of charity law, have pleasure in presenting their report and the audited financial statements of the charitable company for the year ended 31 March 2024. The financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting and Reporting by Charities" (FRS 102), United Kingdom Generally Accepted Accounting Practice, the Charities Act (Northern Ireland) 2008 and the Companies Act 2006. Reference and Administratlon Details The reference and administration details of the charitable company are as shown on page 3. The Chief Executlve was responsible for the supervision of the day-to-day operations of the charitable company throughout the year. Objectives and Activities The Verbal Arts Centre (Northern Ireland) Limited, operating under the name "Verbal," is widely recognised as a leading centre for literature, language arts, and storytelling across Ireland. The organisation's vision, "A world where every story matters, continues to guide its activities and strategic direction. This vision underscores Verbal's commitment to storytelling as a fundamental means of understanding and interpreting the world. Through its annual programme, Verbal addresses inequalities and access barriers faced by deprived and marginalised communities, ensuring that their stories are heard and valued. This work is central to combating poverty, inequality, discrimination, and isolation. Verbal's mission statement reflects its focus on mental health and emotional wellbeing: "Using our unique multi-disciplinary approach to the art of storytelling, Verbal works in partnership to enhance wellbeing among individuals and communities. Central to this mission are the principles of partnership working and the integration of literature and psychology to create high-impact storytelling initiatives. The organisation's activities aim to: l. Challenge everyday assumptions and prejudices. 2. Foster critical discussions about the circumstarbces of vulnerable and marginalised groups. 3. Encourage re-evaluation of "taken for granted" beliefs. 4. Propose innovative solutions to improve the quality of life for those in need. Verbal's programmes integrate storytelling and bibliotherapy to." Support participants in recognising psychological distress. Transfer knowledge about risk fattors and self-help strategies through storytelling. Encourage help-seeking behaviours and reflections on attitudes toward mental health.
The Verba Arts Centre Northern Ire and Limited Charitable Com an Limited b Guarantee DIRECTORS, REPORT for th ear ended March 2024 C ntinued Programme Delivery Reflecting the uniqueness of the organisation, 2023124 saw Verbal continue to refine its programme delivery on an iterative basis, maintaining three key categories: Prevention: Using storytelling to support participants In recognising different types of psychological distress as simulated in the stories, transfer domain-specific knowledge through stories in relation to beliefs about risk factors and causes, as well as understanding self-help strategies. Intervention: Using storytelling to reduce the progression of poor mentsl health and enhance emotional wellbeing by fostering connection, self-expression, and understanding through narrative techniques. Recovery: Empowering individuals to self-manage their mental health through storytelling-driven creative activities that enable particlpants to explore personal narratives, build resilience, and foster emotional growth. Ver-bal delivers its mission through five main programmes: l. Verbal Wellbeing: A digital platform supporting mental health literacy for primary school children, post-primary students (integrated into English curriculum), and adult community mental health. 2. Storyteller Recovery: A multi-arts storytelling programme creating safe spaces for adults in recovery, including a specialist programme tailored for ex-offenders to help them explore their narratives and foster personal growth through creative expression. 3. Story Exchange.. Facilitating cross-community conversations in social housing areas to build cohesion. 4. Stories of Lived Experience (SoLeX): Estsblishing service-user story libraries for marginalised groups, involving creative writing and guided reading. 5. Events & Publishing: Supporting writers, commissioning new works and maintaining literary archives, including quarterly publications of The Honest Ulsterman magazine. Public Benefit statement The Directors of The Verbal Arts Centre (Northem Ireland) Limited confirm that they have complied with their duty under section 4(6) of the Charities Act (Northern Ireland) 2008 to have regard to the Charity Commission for Northern Ireland's guidance on public benefit and that the public benefit requirement has informed the activities of the charitable company in the year ended 31 March 2024. Achievements and Performance A sample of achievement highlights in the year are noted below: Activity levels for Verbal Wellbeing continued to grow across Northern Ireland, the Republic of Ireland and Great Britain. This year working in close partnership with statutory bodies and public agencies, Verbal's annual programme was delivered wlth and to: Looked After Children Children on the autism spectrum Rural pre teen young people transitlonlng to post primary school Offenders in prison Social housing communltles experiencing community tension Older people experiencing social isolation Older people in care homes Adults with mental health Issues Communities living at interfaces
The Verbal Arts Centre Northern Ireland Limited Charitable Com Limited b Guarantee DIRECTORS. REPORT or the ear en ed 31 March 2024 Contlnued Achievements and Performance (Continued) Verbal continues to maintain its dlgital platform "Verbal Wellbeing" which has demonstrated a robust stability of service throughout the year. The level of internal Psychology and Literature expertise continues to grow with the recruitment of post-doctoral staff who are integrated wlth the existing creative team. Storyteller Recovery was rolled out successfully as a regional programme of creatlve recovery based activity working right across Northem Ireland. Story exchange worked intensively with multiple communities Ilvlng on interface areas in Belfast. Honest Ulsterman saw a year-on-year growth in its readership Going concern The charitable company made a loss of £226,503 in the year (2023: £119,518) and saw cash resenies fall by £329,909. The charitable company has operated in a challenging economic environment, which has afferted its ability to obtain grant funding in line with 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 terms of the grant, which 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 rnonths. As a result, the financial statements are prepared on a going concern basis. Financial Review Financial Performance The financial perfomiance was in line with the Board of Director's expectations. The charitable company remains in a sound financial position at the year end. The results for the year are set out in detail on pages 13 to 30. The charitable company made net outgoing resources for the year of £226,503 (2023 - net outgoing resources of £119,518). At 31 March 2024, the total funds of the charity amounted to £1,416,673 (2023: £1,643,176) comprising restricted funds of £79,530 (2023: £83,950), designated funds of £300,000 (2023: £300,000) and unrestritted funds of £1,037,143 (2023: £1,259,226). Principal sources of fundlng and how this has supported the key objectives of the charitable company are disclosed in the notes to the financial statements. Reserves Pollcy The charitable company has free reserves of £135,180 (2023: £402,441) which represents 6 months (2023: 5 months) unrestricted expenditure on charitable activlties. The Directors believe that it is prudent to work towards holding 6 months funding. The maln reason for holding reserves is to ensure that the charity has enough resources to fund the programmes it is supporting and to meet any emergencies that may arise. For this purpose the charitable company is holding £300,000 in designated funds (2023: £300,000).
The Verbal Arts Centre Northern Ireland Limited Charitable Com an Limited b Guarantee DIRECTORS. REPORT for the r ended 31 March 2024 Continued Rlsk Management The Board of Directors has conducted a review of the key risks facing the charity and has established a strategic plan and procedures to manage those rlsks. Continuous external risks in relation to fundlng have led to the development of a structured approach which allows for the longer-term diversification of funding and activities. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the charity. Plans for Future Periods The Directors remain focused on the following prioritles: Create and implement the conditions for the digital produtt to thrive and co-exist alongside the charity's programmes. specifically: Getting Verbal ready to manage the dlfficult transition period inherent in operating both a project led and product led organisation. l. Develop a sustainable digital product alongside the charity's programmes, managlng the transition to a hybrid project- and product-led organisation. 2. Diversify income sources and grow unrestrirted income through the distribution of the Verbal Wellbeing digital delivery model. 3. Transition to a service delivery-based organlsation to enhance sustainability and maintain quality. 4. Promote staff development and retention by reviewing delivery structures. 5. Continue building an interdisciplinary team to support evidence-based storytelling programmes. 6. Strengthen statutory and non-statutory partnerships, leveraging storytelling and psychology to address gaps in emotional wellbeing sep4ices. Structure, Governance and Management Organisational Structure The charitable company is a company limited by guarantee, not having a share capital. The charitable company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In accordance with the Articles of Association, the members to retire by rotation shall be those who have been longest in office since their last election, and the relevant motion will be put forward at the Annual General Meeting. A retiring member shall be eligible for re-election. The charitable company is governed by the Board of Directors. None of the Directors have any beneficial interest in the charitable company. Any person wishing to become a director must apply in writing prior to the annual general meeting. A vote is then taken at the annual general meeting as to whether that person is appointed. Dirertors The Directors during the year are the same as the Direttors as listed on page 3. Taxation Status The charitable company is recognised as a charity by HM Revenue & Customs. Accordingly, the charitable company has availed of the exemptions contained in Chapter 3 Part 11 Corporation Taxes Act 2010 and Section 256 Taxation of Chargeable Gains Att 1992.
The Verbal Arts Centre Northern Ire and Limited Charitab ecom an Limited b Guarantee DIRECTORS. REPORT f r the ear ended 31 March 2024 Contlnued Directors. Responsibilities The Directors are SpOnsible for preparing the Directors, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Direttors to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to: select sultable accounting policies and apply them consistentlyi observe the methods and principles in the Charities SORP (FRS102)' make judgements and estimates that are reasonable and prudent. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The Directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Funds held as custodian trustees on behalf of others The charity holds no funds as custodian- trustees on behalf of others. ststement of Disclosure of Information to Auditor In so far as the Directors, who held office at the date of approval of these financial statements, are aware: there is no relevant audit information of which the charitable company's auditor is unaware. and the Directors have tsken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. Small Companies Exemption This report is prepared in accordance with the special provlsions relating to small companies within Part 15 of the Companies Act 2006. This report was approved by the Board of Directors on 6 December 2024 and signed on its behalf by.. Registered office: stable Lane and Mall Wall Bishop Street Within Derry/Londonderry BT48 6PU James Kerr Company Secretary