The Verba
Arts Centre
N rthern Ireland
Limited
Charitable C
an
Limited b Guarantee
Com
Charl
an
tration Numbe
Number:
N1026500
01482
istr
INDEPENDENT AU
North
nd
ITORS.
Lirni
ORT to the D-
ectors of The V rb
rthe
31 March 2024
s Centr
ear
Opinion
We have audited the financial statements of The Verbal Arts Centre (Northern Ireland) Limited
('the charitable company,) for the year ended 31 March 2024 which comprise the Statement of
Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and the
rated notes to the financial statements, including a summary of significant accounting policies.
The financial reporting framework that has been applied in thelr preparation is applicable law
and United Kingdom Accounting Standards, including FRS 102 "The Financial Reporting
standard applicable in the UK and Republlc of Ireland" (United Kingdom Generally Accepted
Accountlng Prartice).
This report Is made solely to the charitable company's Directors, as a bodyi In accordance with
Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that
we might state to the charitable company's Directors those matters we are required to state to
them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we
do not accept or assume responsibility to anyone other than the charitable company and the
charitable company's Directors as a body, for our audit work, for this report, or for the opinions
we have formed.
In our opinion the financial statements:
Give a true and fair view of the state of the charitable company's affairs as at 31 March
2024 and of its total incoming resources and expenditure of resources, including its
income and expenditure, 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 opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS
(UK)) and applicable law. Our responsibilities under those standards are further described in the
Auditor's responsibilities for the audit of the financial statements section of our report. We are
independent of the company in accordance with ethical requirements that are relevant to our
audit of the financial statements 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 provlde a basis for our
opinion.
Conclusions relatlng to going concern
We have nothing to report in respett of the following matters in relation to which ISAS (UK)
require us to report to you where:
the directors, use of the going concern basis of accounting in the preparation of the
financial statements is not appropriate; or
the directors have not disclosed in the financial statements any identified material
uncertainties that may cast slgnlficant doubt about the charitable company's abllity to
continue to adopt the going concern basis of accounting for a period of at least twelve
months from the date when the financial statements are authorised for Issue.

The Verbal Arts Centre
Northern Ireland
Limited
Charitable Com
an
Limited b
uarantee
NDEPENDENT A
ern Ireland
DITORS. REPORT to the Dir
imited for the
ear ended 31 Ma
ors of The Verb
2024
Continued
Arts Cent
Other Informatlon
The directors are responsible for the other information. The other information comprises the
Information included in the Directors, Report, other than the financial statements and our
Auditor's Report thereon. Our opinion on the financial statements does not cover the other
information and, except to the extent otherwise explicitly stated in our report, we do not
express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other
information and, in doing so, consider whether the other information is materially inconsistent
with the financial statements, or our knowledge obtained in the audit, or otherwise appears to
be materially mlsstated. If we identify such material inconsistencies or apparent material
misstatements, we are required to determine whether there is a material misstatement in the
financial statements 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.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the Directors, Report for the financial year for which the
financial statements are prepared is consistent with the financial statements; and
the Directors, Report has been prepared in accordance with applicable legal
requirements.
Matters on whlch we are required to report by exception
In the light of our knowledge and understanding of the charitable company and its environment
obtained in the course of the audit, we have not identified material misstatements in the
Directors, Report.
We have nothing to report in respect of the following matters in relation to which the
Companies Act 2006 requires 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 with the accounting records and retums.
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 audlt; or
the directors were not entitled to prepare the financial statements in accordance with the
small companies, regime and tske advantage of the small companles, exemptlon in
preparing the Directors, Report.
Emphasis of Matter - Golng concern
We draw the reader's attention to paragraph 2.3. of these financial statements, in respect of
the Charitable company's ability to continue as a going concern. The charity incurred losses in
the year due to the completion of a number of larger projects. However, since the year end,
future projett funding has been secured, and cashflow will be aided both by the recovery of
outstanding grant debtors, and advance payments on the new project secured. Our opinion is
not modified in this regard.
io

The Verbal Arts Centre
Northern Ireland
Limited
Charitab
ecom
Limited b Guarantee
INDEPENDENT AUDITORS. REPORT to the Directors of The Verbal Arts Cent
Northern
eland
Limited
the
ear ende
31 March 2024
Conti
ued
Responsibilities of Directors
As explained more fully in the Directors, Responsibilities Statement, the directors (who are also
the trustees of the charitable company for the purpose of charity 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 financial statements that are free from material misstatement, whether due to
fraud or error.
In preparing the financial statements, the direttors 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 the directors either intends to
liquidate the charitable company or to cease operations, or has no realistic alternative but to do
50.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a
whole 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 condurted 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 aggregate, they could reasonably be expected to
influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. The
objectives of our audit in respect of fraud are to assess the risk of material misstatement due to
fraud, design and implement appropriate responses to those assessed risks and to respond
appropriately to instsnces of fraud or suspetted fraud identified during the course of our audit.
However, the primary responsibility for the prevention and detertion of fraud rests with
management and those charged with governance of the company.
In identifying and assessing risks of material misstatement in respett of irregularities, including
fraud and non-compliance with laws and regulations, our procedures included the following:
We obtained an understanding of the legal and regulatory requirements applicable to the
charitable company's financial statements and considered the most significant are the
Companies Act 2006 and Financial Reporting Standards (FRS102);
We have assessed the risk of material misstatement of the flnancial statements,
including risk of material misstatement due to fraud and how it might occur by holding
discussions with management and those charged with governance.
We enquired of management and those charged wlth governance as to any known
instances of non-compliance or suspected non-compliance with laws and regulations;
Understanding the internal controls established to mitigate risks related to fraud or non-
compliance with laws and regulations; and
Discussions amongst the audit engagement team regarding how fraud might occur in the
financial statements and any potential indicators of fraud. As part of this discussion, we
identified the following potential areas where fraud may occur: timlng of revenue
recognition and management override.

The Verbal Arts Centre
Northern Ireland
Limited
Charitable Com
an
Limited b Guarantee
INDEPENDENT
Northern Irel
ITORS, REP
Limited fo
T to the D"
ear ende
ectors of The Ver
March 2024
rts Cent
The audlt response to rlsks identified included:
Reviewing the financial statements disclosures and testing to supporting documentation
to assess compliance with the ￿levant laws and regulations above;
Performing analytical procedures to identify any unusual or unexpected relationships
that may indicate risk of material misstatement due to fraud.
In addressing the risk of fraud through management override of controls, testing the
appropriateness of journal entries and other adjustments, assessing whether the
Judgements made in making accounting estimates are reasonable and evaluating the
business rationale of any significant transactlons that are unusual or outside the normal
course of business. and
In addressing the risk of fraud through management override of controls, testing the
appropriateness of journal entries and other adjustments, assessing whether the
judgements made in making accounting estimates are reasonable and evaluating the
business rationale of any significant transattions that are unusual or outside the normal
course of business.
A further description of our responsibilities for the audit of the financial statements is located on
the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This
description forms part of our auditor's report.
Mr. Ryan Falls FCA (Senior Statutory Auditor)
For and on behalf of
CAVANAGHKELLY
Chartered Accountants and Statutory Auditors
36 - 38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP
Date: 6 December 2024
12