COMPANY REGISTRATION NUMBER: N1026500
CHARITY REGISTRATION NUMBER: 101482
Verbal Arts Centre (Northern Ireland) Limited The
Company Limited by Guarantee
Financial Statements
31 March 2025
Finegan Gibson Ltd
Chartered accountants & statutory auditor
Causeway Tower
9 James Street South
Belfast
BT2 8DN

Verbal Arts Centre (Northern Ireland) Limited The
Company Llmited by Guarantee
Financial Statements
Year ended 31 March 2025
Page
Trustees, annual report (incorporating the directorfs report)
Independent auditor's report to the members
ststement of financial activities (including income and
expenditure account)
Statement of financial position
Statement of cash flows
14
15
16
Notes to the financial statements
17

Verbal Arts Centre (Northern Ireland) Limited The
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report)
Year ended 31 March 2025
The trustees, who are also the directors for the purposes of company law, present their report and the
financial statements of the charity for the year ended 31 March 2025.
Reference and admlnistrative detalls
Registered charity name
Verbal Arts Centre (Northem Ireland) Limit8d The
Charity registration number
101482
Company registration number N1026500
Prlncipal office and reglstered Stable Lane and Mall Wall
offjce
Bishop Street Within
DerrylLondonderry
BT48 6PU
The trustees
Clara Hanley
Hugh Nelson
James Kerr
Dr Catherine McDonnell
Jason Alexander Mclntosh
Paul Anthony Healy
Valerie Jane Din5more
June Coates
St&ven Lindsay
(Resigned 25 April 2025)
(Resigned 6 Decernber 2024)
Company secretary
James Kerr
Auditor
Finegan Gibson Ltd
Chartered accountants & statutory auditor
Causeway Tower
9 James Street South
Belfast
BT2 8DN
Bankers
AIB
143-145 Strand Road
DerrylLondonderry
BT48 7TN

Verbal Arts Centre (Northern Ireland) Limited The
Company Limlted by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (contlnu•d)
Year ended 31 March 2025
Structurei governance and management
The Directors, who are the trustees for the purpose of charity law, have pleasure in presenting their
report and the audited financial statements of th8 charitable company for the year ended 31 March
2025. The financial statements hav8 been prepared in accordance with the Stat8ment of
Recommended Practice "Accounting and Reporting by Charities" {FRS 102). United Kingdom
Generally Accepted Accounting Practlce. the Charities Act (Northern Ireland) 2008 and the
Companies Act 2006.
The reference and administration details of the charitable company are as shown on page 1. The
Chief Executive was responsible for the supervision of the day-to-day operations of the charitable
company throughout th8 year.

Verbal Arts Centre (Northern Ireland) Limited The
Company Limited by Guarantee
statement of Financial Activities
(including income and expenditure account)
Year ended 31 March 2025
2025
R8Stricted
funds Total funds Total funds
2024
Unrastricted
Jnds
Nots
Income and endowments
Donations and legacies
Charitable activities
other trading activities
Total income
30
30
712,307
64,339
712,307
401,634
38,740
64.339
64,369
712,307
776.676
440,374
Expendlture
Expenditure on charitable activities
Total expenditure
248.914
715.874
964.788
666,877
248,914
715,874
964,788
666,877
Net expenditure
(184.545)
(3.567) (188,112) {226.503)
Transfers between funds
21.822
(21,822)
Net movement In funds
{162,723)
(25.389) (188.112) (226,503)
Reconclllation of funds
Total funds brought forward
Total funds carried forward
1,337,143
1.174,420
79.530
1.416.673
1.643,176
1,416,673
54.141
1.228,561
The statement of financial activtties includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The notes on pages 17 to 31 fomi part of Ihesg financial statoments.
14

Verbal Arts Centre (Northern Ireland) Limited The
Company Llmlted by Guarantee
statement of Financial Position
31 March 2025
2025
2024
Note
Fixed assets
Intangible assets
Tangible fixed assets
15
16
74,294
812,446
74,294
846,497
886,740
920.791
Current assets
Debtors
Cash at bank and In hand
17
384,553
642.948
263,746
271.325
1.027.501
535,071
Creditors: amounts falling due within one year
Net current assets
18
685.680
39,189
341.821
495,882
Total assets less current Ilabllitles
1,228,561
1,416,673
Net assets
1,228,561
1,416,673
Funds of the charity
Restricted funds
Unrestricted funds
54.141
1,174,420
21 1.228.561
79.530
1,337,143
1.416.673
Total charlty funds
These financial statements were approved by the board of trustees and authorised for issue on 7
November 2025. and are signed on behaff of the board by:
Dr Catherine M¢Donnell
Truste8
The notes on pagos 17 to 31 form part of these financlal statements.
15

Verbal Arts Centre (Northern Ireland) Limited The
Company Limited by Guarantee
statement of Cash Flows
Year ended 31 March 2025
2025
2024
Cash flows from operating activities
Net expenditure
(188.112) (226,503)
Adjustments for..
Depreciation of tangible fixed assets
Interest payable and similar charges
Gains on disposal of heritage assets
Accrued income
40,255
1,286
39.908
1,079
(21,200)
(134,269)
Changes in..
Trade and other debtors
Trade and other creditors
11,898
648.055
(130,556)
63,346
Cash generated from operations
379,113
(273,926)
Interest paid
Net cash froml(used in) operating activities
{1.286)
377.827
(1,079)
(275,005)
Cash flows from investing actlvitles
Purchase of tangible assets
Proceéds from sale of heritage assets
Purchase of intangible assets
Net cash used in investing activities
(6.204)
(1,810)
21.200
(74.294)
(54.904)
(6,204)
Net in¢reasel{de¢rease) in cash and cash equivalents
Cash and cash equlvalents at beglnnlng of year
Cash and cash equivalents at end of year
371.623
271.325
(329,909)
601,234
642.948
271,325
The notes on pages 17 to 31 form part of thgso financial statemenls.
16

Verbal Arts Centre (Northern Ireland) Limited The
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2025
General Information
The charity is a public benefit entity and a private company limited by guarantee. regISte￿d in
Northern Ireland and a registered charity in Northern Ireland. The address of the registered office
is Stable Lane and Mall Wall. Bishop Street Within, DerrylLondondery, BT48 6PU.
statement of compliance
These financial statements have been prepared in compliance with FRS 102. The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, the 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) (Charities
SORP (FRS 102)) and the Companies Act 2006.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the
revaluation of ￿rtain financial assets and liabilities and investment properties measured at fair
value through income or expenditure.
The financial statements are prepared in sterling. which is the functlonal currency of the entity.
Going concern
There are no material uncertainties about the Charty's ability to continu8.
Judgements and key sources of estlmatlon uncertalnty
The preparation of the financial statements requires management to make judgements,
estimates and assumptions that affect the amounts reported. These estimates and judgements
are continually reviewed and are based on experience and other factors. including expectalions
of future events that are believed to be reasonable under the circumstances.
Foreign ¢urrencie$
Foreign currency transactions are initially recorded in Ihe functional currency, by applying the
spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated
in foreign currencies are translated at the 8xchange rate ruling at the reporting date. with any
gains or losses being taken to the statement of financial aclivities.
17

Verbal Arts Centre (Northern Ireland) Limited The
Company Limited by Guarantee
Notes to the Financial Statements (¢gntinued)
Year ended 31 March 2025
Accounting policies (contlnuedj
Fund accounting
Unrestricted funds are available for use at th8 discretion of the trustees to further any of the
¢haritVs purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or
commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or
through the temis of an appeal, and fall into one of two sub-classes= restricted income funds or
endowment funds.
Incomlng resources
All incoming resources are included in the statement of financial activities when entitlement has
passed to the Gharity., it is probable that the economic benefils associated with the transaction
will flow to the charity and the amount can be reliably measured. The following specific policies
are applied to particular categories of income..
income from donations or grants is recognised when there is evidence of entitlement to the
gfft, receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and enlitlement is established.
income from donated goods is measured at the fair value of the goods unless thi5 IS
impraGtical to measure reliably, in which case the value is derived from the cost to the donor
or the estimated resale value. Donated facilities and services are recognised in the
accounts when received if the value can be reliably measured. No amounts are included for
the contribution of general volunteers.
Income from contracts for the supply of services Is recognised with the delivery of the
contracted service. This is classified as unrestricted funds unless there is a ¢onlTactual
requirement for it to be spent on a particular purpose and relurned rf unspent. in which case
it may be regarded as restricted.
18

Verbal Arts Centre (Northern Ireland) Limited The
Company Limited by Guarantee
Notes to the Financial Statements (contlnuod)
Year ended 31 March 2025
Accounting policies {contlnu•d)
Resources expended
Expenditure is recognised on an a¢¢ruals basis a5 a liability is incurred. Expenditure includes any
VAT which cannot be fully recovered. and is classified under h8adings of the statement of
financial activities to which it relates:
expenditu￿ on raising funds includes the costs of all fvndraising activities, events.
non-charitable trading activities. and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity In undertaklng
activities that further its Charitable aims for the benefit of its beneficiaries, including those
support costs and costs relating to th8 govemance of the charity apportioned to charitable
activities.
other expenditure includes all expenditure that is neither related to raising funds for the
charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs
attributable to a single activity are allocated directly to that activity. Sharad costs are apportioned
be￿een the activities they contribute to on a reasonable. justifiable and consistent basis.
Intanglble assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any
accumulated amortisation and impairment losses. Any intangible assets carried at revalued
amounts, are recorded at the fair value at the date of revaluation. as determined by reference to
an active market. less any subsequent accumulated amortisation and subsequent accumulated
impaimient losses.
Intangible assets acquired as part of a business combination are only recognised separately from
goodwill when they arise from contractual or other legal rights, are separable, the expected future
economiG benefits are probable and the cost or value can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost. and subsequently stated at cost less any
accumulated depreciation and impairment losses. Any tangible assets ¢arried al revalued
amounts are recorded at the fair value at the date of revaluation less any subsequent
accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carying amount of an asset as a result of a revaluation. Is recognised in other
recognised gains and losses, unless it reverses a charge for impairment that has previously been
recognised as expenditure within the statement of financial activities. A decrease in the carrylng
amount of an asset as a result of revaluation. is recognised in other recognised gains and losses,
except to which it offsets any previous revaluation gain. in which case the loss is shown within
other recognised gains and Iossgs on the statement of financial activities.
19

Verbal Arts Centre (Northern Ireland) Limited The
Company Limited by Guarantee
Notes to the Financial Statements (cont1ft￿dJ
Year ended 31 March 2025
A¢¢ountlng pollcles (continued)
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, les5 Its residual
value. over the useful economic lif8 of that asset as follows:
Freehold propety
Fixtures and fittings
Motor iiehicles
2 % straight line
25010 Straight line
25Q/L7 Stpight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date. with the recoverable
amount being estimated where such indicators exist. Where the carying value exceeds the
recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for
possible reversal at each reporting date.
For the purposes of impaimient testing, when it is not possible to estimate the recoverable
amount of an individual asset, an estimate is made of the ￿cOVerable amount of the
cash-generating unit to which the asset belongs. The cash-generating unit is the smallest
identifiable group of assats that includes the asset and generates cash inflows that largely
independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is. from the
acquisition date, allocated to each of the cash-generating units that ar8 expected to benefit from
the synergies of the combination. irrespective of whether other assets or liabilities of the charity
are assigned to those units.
Financial instrumonts
A financial asset or a financial liability is recognised only when the charity becomes a paty to the
¢ontractual provisions of the instrument.
Basic financial instwments are initially recognised at the amount receivable or payable including
any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other
consideration expected to be paid or re￿IVed and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured
reliably, the investment is subsequently measured at fair value with changes in fair value
recognised in income and 8xpenditur8. All 0th8r such investments are subsequently measured at
cost less impairment.
Other financial instruments, including derivative5. are initially re¢ognised at fair value, unless
payment for an ass8t is deferred beyond normal business temis or financed at a rate of interest
that 15 not a market rate. in which case the asset is measured at the present value of the future
payments discounted at a market rate of Interest for a similar debt instrument.
20

Verbal Arts Centre (Northern Ireland) Limited The
Company Limited by Guarantee
Notes to the Financial Statements (continue
Year ended 31 March 2025
Accounting policies f¢on(inu¢d)
Financial instruments f¢ontlnu¢d)
other financial instruments are subsequently measured at fair value, with any changes
recognised in the statement of financial activities. with the exception of hedging instruments in a
designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective eviden
of impairm8nt at the 8nd of each reporting date. If there is objective evidence of impaimient, an
impairment loss is recognised under the appropriate heading in th8 Statement of financial
activities in which the initial gain was recognised.
For all equlty Instruments regardless of signtficance, and other financial assets that are
individually significant, these are assessed individually for impairment. Other financial assets are
either assessed individually or grouped on the basis of similar cr8dit risk characteristics.
Any reversals of impaimient are recognised immediately, to the extent that the reversal does not
result in a carrying amount of the financial asset that exceeds what lh8 carrying amount would
have been had the impairment not previously b88n recognised.
Defined contributlon plans
Contributions to defined contribution plans are recognised as an expense in the period in which
the related service is provided. Prepaid wntributions are recognised as an asset to the extent
that the p￿paYrnent will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly withln 12 months of the end of the
reporting date in which the employees ￿nder the related servi￿. the liability is measured on a
discounted present value basis. The unwinding of the discount is recognis8d as an expense in
the period in which it arises.
Limited by guarantee
The Verbal Arts Centre (Northern I￿land) Limited is a charitable company limited by guarantea
and accordingly does not have a share capital. Every member of the company undertakes lo
contribute such amount as may be required not exceeding £1 to the assets of the charitable
company in the event of its being wound up while he or sh8 is a member. or within one year after
he or she ceases lo be a member.
Donations and legacies
Unrestricted Totsl Funds Unrestricted Totsl Funds
Funds
2025
Funds
2024
Donatlons
Donations
30
30
21

Verbal Arts Centre (Northern Ireland) Limited The
Company Llmlted by Guarantee
Notes to the Financial Statements (contlnu•dJ
Year ended 31 March 2025
Charitable actlvltles
Unrestricted
Funds
Restricted Total Funds
Funds
2025
DCC- Core Funding
ACNI Grants- Core Funding
ACNI Arts & Older People
ACNI REAP
ACNI Digital Evolution Project
ACNI Community Project
Others - Project Funds
TBUC
TEO - Story Exchange
RAPID-Taking the Next step
EU - Project Funding
Pea￿ Plus - Verbal
Peace Plus - Partners
DOH Carers Fund
Clear STF
Radius Housing
Cultural canvas
Department of Economy
The Community Foundation - Prevention Services
Dormant Accounts Fund- Nl
National Lottery- Trans tales
CFNI- Toy Show Grow
Ulster Garden Villages
Creative Connections
DCSDC - European Open heritage
DCSDC - Culture night
Supporting POCA
DCSDC - Spookybones
Macmillan Centre
DCSDC- Halloween
Rayne Fund
st Stephen's green trust
17.000
208,320
2.978
7,731
4,504
4,000
17.000
208,320
2.978
7.731
4,504
4,000
17.174
2.000
(14,459)
161.259
149.217
27,020
17,174
2,000
(14.459)
161,259
149.217
27.020
1,888
1,888
17,920
17,920
39,835
19,443
39,027
6,700
750
39.835
19,443
39.027
6.700
750
712,307
712.307
22

Verbal Arts Centre (Northern Ireland) Limited The
Company Lirnited by Guarantee
Notes to the Financial Statements (¢ontinuedJ
Year ended 31 March 2025
Charltable aclivities (continued)
Unrestricted
Funds
Restricted Total Funds
Funds
2024
DCC- Core Fundlng
ACNI Grants- Core Funding
ACNI Arts & Older People
ACNI REAP
ACNI Digital Evolution Project
ACNI Community Project
Others - Project Funds
TBUC
TEO - Story Exchange
RAPID-Taking the Next Step
EU- Project Funding
Peace Plus- Verbal
Peace Plus - Partners
DOH Carers Fund
Clear STF
Radius Housing
Cultural canvas
Department of Economy
The Community Foundation - Prevention Services
Dormant Accounts Fund - Nl
National Lottery- Trans tales
CFNI- Toy Show Grow
Ulster Garden Villagès
Creative Connections
DCSDC - European Open heritage
DCSDC - Culture night
Supporting POCA
DCSDC - Spookybones
Macmillan Centre
DCSDC- Halloween
Rayne Fund
St Stephen's green trust
17,000
210,820
3.759
978
4,504
4.000
17,000
210.820
3,759
978
4,504
4,000
12.044
126
12,044
126
27,020
3.893
5,036
1.043
1,629
5,000
39.834
27.020
3,893
5.036
1,043
1.629
5,000
39,834
13,300
6.934
498
400
10,060
972
4,893
2.000
20.000
5.891
13.300
6.934
498
400
10,060
972
4,893
2.000
20.000
5,891
12,044
389.590
401.634
23

Verbal Arts Centre (Northern Ireland) Limited The
Company Limited by Guarantee
Notes to the Financial Statements (contlnu•dJ
Year ended 31 March 2025
Other tradlng actlvities
Unrestricted Total Funds Unrestricted Total Funds
Funds
2025
Funds
2024
Education Fees
Room Hire
Cat8ring & Refreshments
Media
Digilal Storytelling
Online Storytelling
Research Services
Summer S¢heme5
Reading Rooms Delivery
27,003
22.594
27,003
22,594
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
508
94
508
50
14,006
50
14,006
64,339
64,339
38.740
38.740
Expenditure on charltable actlvities by fund type
Unrestricted
Funds
Restricted Total Funds
Funds
2025
Charitsble Activities
Support costs
111,888
137.028
715,874
827,760
137.028
248.914
715.874
964.788
Unrestricted
Funds
R8Stricted Total Funds
Funds
2024
Charitable Activities
Support costs
221,960
50.907
272.867
343.470
50.540
394.010
565,430
101,447
666.877
Expenditure on charitable activities by activity typo
Activities
undertaken
directly Support costs
Tolal funds
2025
Total fund
2024
Charitable Activities
G0veMan￿ Gosts
827,760
88,543
48.485
916,303
48,485
647,910
18,967
827,760
137,028
964,788
666.877

Verbal Arts Centre (Northern Ireland) Limited The
Company Limited by Guarantee
Notes to the Financial Statements (contlnu•d)
Year ended 31 March 2025
10. Analysis of support costs
Support
Costs Total 2025 Total 2024
staff Costs
Premises
Communications and IT
General offica
Finance costs
Governance costs
2,522
34,011
31.461
19.263
1.286
48.485
2,522
34,011
31,461
19,263
1,286
48,485
10,512
32,366
25,723
12,800
1,079
18,967
137.028
137,028
101,447
11. Net expenditure
Net expenditure is stated after chargingl{crediting):
2025
2024
Depreciation of tangible fixed assets
Disposal of r￿ed asset
Foreign exchange differences
40,255
39.908
(21,200)
(4,174)
17
12. Audltors remuneratlon
2025
2024
Fees payable for the audit of the financial statements
8,340
7.511
13. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows=
2025
2024
Wages and salari8s
Social security costs
Employer Gontributions to P8nsion plans
other employee benefits
495,078
48,424
20,439
14,252
578,193
456.251
37.794
19,286
513.331
The average head count of employees during the year was 17 (2024: 18).
Th8 number of employees whose remuneration for the year fell within the following bands, we￿.
2025
2024
No.
£60.000 to £69.999
25

Verbal Arts Centre (Northern Ireland) Limited The
Company Limited by Guarantee
Notes to the Financial Statements (¢gntinuod)
Year ended 31 March 2025
13. staff costs feontlnu•d)
Key Management Personnel
Key management personnel include all persons that have authority and responsibility for
planning. directing and controlling the activities of the charity. The total compensation paid to key
management personnel for services provided to the charfty was £148,110 (2024:£153,011).
14. Trustee remuneration and expenses
The trustees were not paid or received any other benefits from employment neither where they
reimbursed expenses during the year (2024: £Nil).
15. Intangible assets
Intangible
Asset
Cost
At 1 April 2024 and 31 March 2025
Amortisation
At 1 April 2024 and 31 March 2025
Carrylng amount
At 31 March 2025
74,294
74,294
74,294
At 31 March 2024
16. Tangible fixed assets
Freehold Fixtures and
property
fittings
Total
Cost
At 1 April 2024
Additions
1.680,074
240.701
6.204
1,920,775
6,204
At 31 March 2025
1.680,074
246,905
1,926,979
Depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
847,924
33,601
226,354
6,654
233,008
1.074.278
40.255
881.525
1,114,533
Carrying amount
At 31 March 2025
798,549
13,897
812.446
At 31 March 2024
832.150
14,347
846.497
The Freehold property at Stable Lane. DerylLondondery is held at cost.
26

Verbal Arts Centre (Northern Ireland) Limited The
Company Llmited by Guarantee
Notes to the Financial Statements (contlnu8dJ
Year ended 31 March 2025
17. Debtors
2025
2024
Trade debtors
Prepayments and accrued Income
1,118
383,435
12,954
250,792
384,553
263,746
18. Credilors: amounts falling due withln one year
2025
2024
Trade creditors
Accruals and deferred income
Social security and other taxes
other creditors
4,973
512,643
15.138
152.926
685.680
8.707
10.898
18.812
772
39,189
19. Deferred Income
2025
2024
Amount defe￿ed in year
503.309
20. Pensions and other post retirement benefits
Defined contribution plans
The amount r8cognised in income or expenditure as an expens8 in relation to defined
contribution plans was £20.439 (2024.. £19,286).
21. Analysis of charitable funds
Unrestrlcted funds
At
31 March 202
At
1 April 2024
Income Expenditure
Transfers
General funds
Capital Assets
Designated Funds
1,037,143
64.369
(248.914) (542,361)
864.183
(300.000)
21,822
310,237
864.183
300.000
1,337,143
64,369
(248,914)
1,174,420
At
31 March 202
At
1 April 2023
Income Expenditure
Transfers
General funds
Capital Assets
Designated Funds
1,259.226
50.784
(272,867)
1,037,143
300.000
300,000
1,559,226
50.784
(272.867)
1.337,143
27

Verbal Arts Centre (Northern Ireland) Limited The
Company Limited by Guarantee
Notes to the Financial Statements (continuedj
Year ended 31 March 2025
21. Analysls of charltable funds (eontlnu8d)
Transfers have taken place in the relation in relation to management fees. Transfers have also
tsken plac8 in the year from unr8Strict8d to restricted funds.
Restrlcted funds
At
31 March
2025
At
1 April 2024 Income Expenditure Transfers
ACNI Equipment Fund
ACNI H&S Funding
ACNI REAP
The Community Foundation -
Prevention Services
Garfield Weston
Foyle Foundation
Verbal Wellbeing
ACNI Grants- Core Funding
DCC - Core Funding
ACNI Arts & Older People
ACNI Digital Evolution Project
ACNI Community Project
EU- Project Funding
TBUC
DOH Carers Fund
Ulster Garden Villages
Creative Connections
DCSDC- European Open heritage
DCSDC - Cullure night
Supporting POCA
DCSDC - Spookybones
Macmillan Centre
DCSDC - Halloween
Rayne Foundation
St stephen's green trust
Clear STF - Beyond Pages
Radius Housing
Cultural canvas
Department of Economy
DormantAccounts Fund - Nl
National Lottery
CFNI Toy show grow
TEO - Story Exchange
RAPID- Taking the next step
SEUPB - Peace Plus
SEUPB - Peace Plus - Verbal
6,050
1,700
(6.050)
(1,700)
7,731
7,731
267
(267)
208.320
17,000
2.978
4,504
4.000
(14,459)
(192,259) (16,061)
(10,058) (6.942)
(1,430) (1,837)
(5,373)
(8,000)
289
869
4,000
14.459
7,093
27.020
8.700
750
(31,426) (2,687)
(6.700)
(531)
(219)
6.764
(6.405)
(359)
13.547
3,570
(12,922)
(3.570)
(625)
1,835
360
475
32,711
1.888
(3,134)
(360)
(15,578) (1.008)
(39,892)
(17,725) (1.718)
(22,113) (4.967) 11,947
(17,905)
731
(2,000)
(149,217)
(161.259}
(715.8741 (21,822)
{589)
17,920
39.835
19.443
39.027
17.174
2.000
149.217
161,259
79,530 712,307
1.809
32,654
54,141
28

Verbal Arts Centre (Northern Ireland) Limited The
Company Limited by Guarantee
Notes to the Financial Statements (contlnuodj
Year ended 31 March 2025
21. Analysls of charilable funds (continued)
At
31 March
2024
At
1 April 2023 Income Expendlture Transf8rs
ACNI Equipment Fund
ACNI H&S Funding
ACNI REAP
The Community Foundation-
Prevention Services
Garfield Weston
Foyle Foundation
Verbal Wellbeing
ACNI Grants- Core Funding
DCC - Core Funding
ACNI Arts & Older People
ACNI Digital Evolution Project
ACNI Community Project
EU - Projact Funding
TBUC
DOH Carers Fund
Ulster Garden Villages
Creative Connections
DCSDC - European Open heritage
DCSDC- Culture night
Supporting POCA
DCSDC - Spookybones
Macmillan Centre
DCSDC - Halloween
Rayne Foundation
St Stephen's green trust
Clear STF - Beyond Pages
Radius Housing
Cultural canvas
Department of Economy
Dormant Accounts Fund - Nl
National Lott8ry
CFNI Toy show grow
TEO - Story Exchange
RAPID- Taking the next step
SEUPB - Peace Plus
SEUPB - Peac8 Plus- V8rbal
10,970
5,758
8,797
(4,920)
(4,058)
(9.775)
6,050
1.700
978
24,688 5,000
21.583
11.890
264
(29,688)
(21.316)
(11,890)
(264)
(210,820)
(17,000)
(3,470)
(3,635)
267
210,820
17,000
3.759
4.504
4,000
289
869
4.000
126
27,020
13,300
6,934
498
400
10,060
972
4,893
2.000
20,000
5,891
3,894
5,036
1.043
1,629
39,833
(126)
(19.927)
(13.300)
{6.934)
{498)
{400)
(3,296)
(972)
(4,893)
(2,000)
(6,453)
(2,321)
(3,894)
(3.201)
(683)
(1.154)
(7.122)
7,093
6,764
13.547
3.570
1.835
360
475
32,711
83,950 389,590
(394.010)
79.530
29

Verbal Arts Centre (Northern Ireland) Limited The
Company Limited by Guarantee
Notes to the Financial Statements (continugd)
Year ended 31 March 2025
22. Analysis of net assets between funds
Unrestricted
Fund5
Restricted Endowment Total Funds
Funds
Funds
2025
Tangible fixed assets
Current assets
Creditors less than 1 year
Net assets
864,183
22.557
339.445
688,056
(29.208) (656,472)
1,174,420
54.141
886.740
1.027.501
(685,680)
1,228,561
Unrestricted
Funds
Restricted Endowment Total Funds
Funds
Funds
2024
Tangible fixed assets
Current assets
Creditors less than 1 year
Net assets
901,963
171,551
(36,371)
1,037,143
18.828
63,520
(2.818)
79.530
920,791
535,071
(39,189)
1.416,673
300,000
300,000
23. Taxation
The Company is a regISte￿d charity, and as such is entitled to tax exemptions on income and
profits in furtheranc8 of th8 charity's primary objectives.
24. Contingencles
A contingent liability exists to repay grants and Trust monies received should certain conditions
not be fulfilled by the Gharity. In the opinion of the Trustees. the terms of the Letters of Offers
have been, or will be, complied with and no liability is expected.
25. Ethical standards
In common with many other businesses of our size and nature we usa our auditors to prepare
and submit relurns to the tax authorities and assist with the preparation of the financial
statements.
26. Analysis of changes in net debt
At
At 1 Apr 2024 Cash flows 31 Mar 2025
Cash at bank and in hand
271,325
371.623
642,948
30

Verbal Arts Centre (Northern Ireland) Limited The
Company Limited by Guarantee
Notes to the.Financial Statements (contlnuedl
Year ended 31 March 2025
27. Related Partles
The Verbal Arts Centre has two subsidiary companies.. Lagan Press and Sevengate. Lagan Press was
incorporatad into Verbal's governance structure at the request of the Arts Council of Norlhern Ireland.
Following subsequent reductions In public funding, the Arts Council grant to Lagan Press was
discontinued. The company continu8d to publish new titles for a number of years,. however, publishing
activity has now ceased. Lagan Press ¢urr8ntly op8rates on a limited basis. fulfilling online orders for
titles from its existing back catslogue.
Sevengate, established in 2012. serves as Verbal's trading subsidiary. It was created to facilitate
access to business support programmes and to generate unrestricted income for the organisation.
31

Verbal Arts Centre (Northern Ireland) Limited The
Company Limited by Guarantee
Detailed Statement of Financial Activities
Year ended 31 March 2025
The following pages do not form part of the flnanclal ststements.
32

Verbal Arts Centre (Northern Ireland) Limited The
Company Limited by Guarantee
Detailed Statement of Financial Activities
Year ended 31 March 2025
2025
2024
Income and endowmenls
Donatlons and legacles
Donations
30
Charitable activities
DCC- Core Funding
ACNI Grants- Core Funding
ACNI Arts & Older People
ACNI REAP
ACNI Digital Evolution Project
ACNI Community Project
Others- Project Funds
TBUC
TEO - Story Exchange
RAPID-Taking the Next Step
EU - Project Funding
Peace Plus - Verbal
Peace Plus - Partners
DOH Carers Fund
Clear STF
Radius Houslng
Cultural canvas
Department of Economy
The Community Foundation - Prevention Services
Dormant Accounts Fund - Nl
National Lottery- Trans tales
CFNI - Toy Show Grow
Ulster Garden Villages
Creative Connections
DCSDC - European Open heritage
DCSDC- Culture night
Supporting POCA
DCSDC- Spookybones
Macmillan Centre
17,000
208,320
2.978
7,731
4,504
4,000
17,000
210,820
3,759
978
4,504
4,000
12,044
126
17,174
2,000
(14,459)
161.259
149,217
27.020
27,020
3,893
5,036
1,043
1,629
5.000
39,834
1.888
17,920
39,835
19,443
39,027
6,700
750
13.300
6.934
498
400
10,060
972
4,893
Carried forward
(712,307) (373,743)
33

Verbal Arts Centre (Northern Ireland) Limited The
Company Limited by Guarantee
Detailed Statement of Financial Activities (wntinued)
Year ended 31 March 2025
2025
2024
Brought forward
(712,307) (373.743)
DCSDC - Halloween
Rayne Fund
St Stephen's green trust
2,000
20,000
5.891
712,307
401,634
Other trading activities
Education Fees
Room Hire
Catering & Refreshments
Media
Digital Storytelling
Online Storytelling
Research Services
Summer Schemes
Reading Rooms Delivery
27,003
22,594
8,905
15,732
345
1,643
5,425
2,671
4,019
508
50
14,006
64,339
38,740
Total income
776,676
440,374

Verbal Arts Centre (Northern Ireland) Limited The
Company Limited by Guarantee
Notes to the Detailed Statement of Financial Activities
Year ended 31 March 2025
2025
2024
Expendlture on Charitable activities
Charitable Actlvltles
Activities undertaken directly
Wageslsalaries
Employer's NIC
Pension costs
Other Benefits
Print & Design Costs
Catering
Membership & Subscription
Telephone & Postage
Printing & Stationery
Sundry Expenses
Motor vehicle expenses
Arts & Education Program Costs
Staff Travel
Recruitment Costs
Staff Training
Depreciation
Foreign exchange gainlloss
Disposal of fixed asset gainlloss
EU - Project Funding - Partner Payments
495,078
48,424
20.439
14.252
456,251
37,794
19,286
107
344
6,446
6,003
5,055
1.562
154
11,984
5,910
7,538
5.050
4.236
5,862
26,252
3.963
5,386
1,707
40,255
17
39.908
(4.174)
(21,200)
149.217
827,760
565.430
Support Costs
Recruitment Costs
Heat & Light
Insurance
Cleaning
Rent & Rates
Repairs & Maintenance
Computer Costs
Other interest payable and similar charges
Staff Training & Development Costs
739
15,091
13,463
1.038
1.897
21,785
31,461
1,286
1.783
4,296
19,350
12.070
730
1,644
11,372
25,723
1.079
6,216
82,480 ..
88,543
Governance costs
Govemance costs - audit fees
Governance costs - legal and other professional fees
Governance costs - Consultancy
8.971
1,362
38,152
48,485
7,511
314
11,142
18,967
Expendlture on charitable activities
964,788
666,877
Net expendlture
(188,112) (226.503)
35