Fighting Words Northern Ireland
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 March 2023
2023
Restricted
funds Total funds
2022
Unrestricted
funds
Total funds
Note
Income and endowments
Donations and legacies
Charitable activities
Other income
12.091
13,841
8,569
12,091
405,647
8,569
9.962
154.824
440
391.806
Total income
34,501
391,806
426,307
165,226
Expenditure
Expenditure on charitable activities
Total expenditure
24,246
287,439
311,685
209.025
24.246
287,439
311,685
209.025
Net incomel(expenditure)
10,255
104,367
114,622
(43,799)
Transfers between funds
36.294
(36,294)
Net movement in funds
46.549
68,073
114,622
(43.799)
Reconciliation of funds
Total funds brought forward
Total funds carried forward
50,928
93,161
144,089
187,888
97,477
161,234
258,711
144,089
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The notes on pages 15 to 29 fomi part of these financial statements.
13

Fighting Words Northern Ireland
Company Limited by Guarantee
Statement of Financial Position
31 March 2023
2023
2022
Note
Fixed assets
Tangible fixed assets
15
26,568
31.997
Current assets
Debtors
Cash at bank and in hand
16
85,588
152,664
2,532
123.615
238,252
126.147
Creditors: amounts falling due within one year
Net current assets
17
6,109
14.055
232,143
112.092
Total assets less current liabilities
258,711
144.089
Net assets
258,711
144,089
Funds of the charity
Restricted funds
Unrestricted funds
161,234
97,477
93,161
50,928
Total charity funds
19
258,711
144,089
For the year ending 31 March 2023 the charity was entitled to exemption from audit under section 477
of the Companies Act 2006 relating to small companies.
Directors, responsibilities:
The members have not required the company to obtain an audit of its financial statements for the
year in question in accordance with section 476-
The directors acknowledge their responsibilities for complying with the requirements of the Act
with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to
companies subject to the small companies, regime.
These financial statements were approved by the board of trustees and authorised for issue on 11
December 2023, and are signed on behalf of the board by:
/•
A Gallagher
Trustee
T Newell
Trustee
The notes on pages 15 to 29 fomi part of these financial statements.
14

Fighting Words Northern Ireland
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2023
General information
The charity is a public benefit entity and a private company limited by guarantee. registered in
Northern Ireland and a registered charity in Northern Ireland. The address of the registered office
is Connwater Shopping Centre, Bloomfield Avenue. Belfast, BT55LP.
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 certain 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 functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
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 expectations
of future events that are believed to be reasonable under the circumstances.
Foreign currencies
Foreign currency transactions are initially recorded in the 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 exchange rate ruling at the reporting date. with any
gains or losses being taken to the statement of financial activities.
15

Fighting Words Northern Ireland
Company Limited by Guarantee
Notes to the Financial Statements (Continued)
Year ended 31 March 2023
Accounting policies (Continued)
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the
charity's purposes.
Designated funds are unrestricted funds eamiarked 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.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has
passed to the charity- it is probable that the economic benefits 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
gift. receipt is probable and its amount can be measured reliably.
legacy income is recognised when re￿Ipt is probable and entitlement is established.
income from donated goods is measured at the fair value of the goods unless this is
impractical 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 contraclual
requirement for it to be spent on a particular purpose and retumed rf unspent. in which case
it may be regarded as reslricted.
16

Fighting Words Northern Ireland
Company Limited by Guarantee
Notes to the Financial Statements (Continued)
Year ended 31 March 2023
Accounting policies (Continued)
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fully recovered. and is classified under headings of the statement of
financial activities to which it relates=
expenditure on raising funds indudes the costs of all fundraising activities, events.
non-charitable trading activities, and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking
activities that further its charitable aims for the benefit of its beneficiaries, including those
support costs and costs relating to the governance 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- Shared costs are apportioned
between the activities they contribute to on a reasonable. justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any
accumulated depreciation and impairment losses. Any tangible assets carried at revalued
amounts are recorded at the fair value at the date of revaluation less any subsequent
accumulated depreciation and subsequent accumulated impaimient losses.
An increase in the carrying 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 carrying
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 losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual
value, over the useful economic life of that asset as follows..
Long leasehold property
Equipment
100/0 Straight line
200k straight line
Impaiment 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 carrying value exceeds the
recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for
possible reversal al each reporting date.
17

Fighting Words Northern Ireland
Company Limited by Guarantee
Notes to the Financial Statements (Continued)
Year ended 31 March 2023
Accounting policies (Continued)
Impairnient of fixed assets (continued)
For the purposes of impainnent testing. when it is not possible to estimate the recoverable
amount of an individual asset, an estimate is made of the recoverable amount of the
cash-generating unit to which the asset belongs. The cash-generating unit is the smallest
identifiable group of assets 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 g￿dwIll acquired in a business combination is, from the
acquisition date, allocated to each of the cash-generating units that are 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 instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the
contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount re￿1vable 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 received and not discA)unted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otheNise be measured
reliably, the investment is subsequently measured at fair value with changes in fair value
recognised in income and expenditure. Al other such investments are subsequently measured at
cost less impairment.
Other financial instruments, including derivatives. are initially recognised at fair value, unless
payment for an asset is deferred beyond normal business terms or financed at a rate of interest
that is 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.
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 evidence
of impairment at the end of each reporting date. If there is objective evidence of impairment, an
impairment loss is recognised under the appropriate heading in the statement of financial
activities in which the initial gain was recognised.
For all equity instruments regardless of signtrican￿, 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 credit risk characteristics.
18

Fighting Words Northern Ireland
Company Limited by Guarantee
Notes to the Financial Statements (Continued)
Year ended 31 March 2023
Accounting policies (Continued)
Financial instruments (continued)
Any reversals of impairment are recognised immediately. to the extent that the reversal does not
result in a carying amount of the financial asset that exceeds what the carrying amount would
have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which
the related service is provided. Prepaid contributions are recognised as an asset to the extent
that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the
reporting date in which the employees render the related service, the liability is measured on a
discounted present value basis. The unwinding of the discount is recognised as an expense in
the period in which it arises.
Limited by guarantee
Fighting Words Northem Ireland is a company limited by guarantee and has no share capital. 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
Donations and legacies
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Donations
Donations
Black Santa (Belfast Cathedral)
Page Turners
12,091
12.091
12,091
12.091
Unrestricted
Funds
Restricted Total Funds
Funds
2022
Donations
Donations
Black Santa (Belfast Cathedral)
Page Turners
6,552
6.552
450
2,960
450
2,960
9,512
450
9.962
19

Fighting Words Northern Ireland
Company Limited by Guarantee
Notes to the Financial Statements (Continued)
Year ended 31 March 2023
Charitable activities
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Department for Communities
Arts Council of Northern Ireland
Belfast City Council
Department of Foreign Affairs. Reconcilation Fund
The Ireland Funds America
Community Relations Council
Backstage Trust
National Lottery Donnant Accounts - Next Chapter
Garfield Weston Foundation
Enkalon Foundation
Esmé Mitchell Trust
Community Foundation for Northern Ireland
Victoria Homes Trust
The Foyle Foundation
JP Mcmanus Charitable Foundation
Tomar Trust
Halifax Foundation for Northem Ireland
Arts Council of Northem Ireland - National Lottery
Fund 2021122
Nerve Centre
Arts Council of Northem Ireland Covid Recovery
Programme
Future Screens Nl
Access to Work- Communitites Nl
Belfast Harbour Community Awards
Arts & Business- Blueprint
Nl Executive- CGRU
Ireland Funds- Individual Donors
Ireland Funds- Heart of the Community Awards
Amazon Literary Partnership
13,863
26,306
17,843
129,457
13,863
26,306
17.843
129.457
4,842
24,600
36,752
10,000
500
1,000
4.842
24.600
36.752
10.000
500
1,000
2,000
3,500
2,000
3,500
19,748
25,993
5,000
19.748
25,993
5.500
500
21,919
6,675
5,000
27,000
7,459
21.919
6.675
5.000
27.000
7.459
3,841
4,349
7,500
3,841
4,349
7,500
13,841
391,806
405,647
20

Fighting Words Northern Ireland
Company Limited by Guarantee
Notes to the Financial Statements (Continued)
Year ended 31 March 2023
Charitable activities (Continued)
Unrestricted
Funds
Restricted Toial Funds
Funds
2022
Department for Communities
Arts Council of Northern Ireland
Belfast City Council
Department of Foreign Affairs. Reconcilation Fund
The Ireland Funds America
Community Relations Council
Backstage Trust
National Lottery Donnant Accounts - Next Chapter
Garfield Weston Foundation
Enkalon Foundation
Esmé Mitchell Trust
Community Foundation for Northern Ireland
Victoria Homes Trust
The Foyle Foundation
JP Mcmanus Charitable Foundation
Tomar Trust
Halifax Foundation for Northem Ireland
Arts Council of Northem Ireland - National Lottery
Fund 2021122
Nerve Centre
Arts Council of Northem Ireland Covid Recovery
Programme
Future Screens Nl
Access to Work- Communitites Nl
Belfast Harbour Community Awards
Arts & Business- Blueprint
Nl Executive- CGRU
Ireland Funds- Individual Donors
Ireland Funds- Heart of the Community Awards
Amazon Literary Partnership
3,964
3.964
733
7.216
1.750
20.000
23.333
10.000
500
2,500
733
7,216
1,750
20,000
23,333
10,000
500
2,500
15,000
20,000
15,000
20,000
30,933
6,930
30,933
6,930
11,965
11.965
10,733
144,091
154,824
Other income
Unrestricted Total Funds Unrestricted Total Funds
Funds
2023
Funds
2022
Other income
Earned Income
186
8,383
186
8.383
440
440
8.569
8,569
440
440
21

Fighting Words Northern Ireland
Company Limited by Guarantee
Notes to the Financial Statements (Continued)
Year ended 31 March 2023
Expenditure on charitable activities by fund type
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Cultural education
Support costs
15,297
8,949
191,937
95,502
207,234
104,451
24,246
287,439
311.685
Unrestricted
Funds
Restricted Total Funds
Funds
2022
Cultural education
Support costs
30,922
13.650
105,726
58,727
136.648
72,377
44,572
164,453
209,025
Expenditure on charitable activities by activity type
Activities
undertaken
directly Support costs
Total funds
2023
Total fund
2022
Cultural education
Governance costs
207,234
96,144
8,307
303,378
8,307
200,329
8.696
207,234
104,451
311,685
209.025
10. Analysis of support costs
Analysis of
support costs
Cultural
education
Total 2023 Total 2022
Staff costs
Premises
General office
Finance costs
Governance costs
30,081
30,325
1,687
34,051
8,307
30,081
30,325
1,687
34,051
8,307
16.496
11.132
4.170
31.883
8.696
104,451
104,451
72.377
11. Net incomel(expenditure)
Net incomel(expenditure) is staled after chargingl(crediting)-
2023
2022
Depreciation of tangible fixed assets
Foreign exchange differences
6,419
5,742
4,350
22

Fighting Words Northern Ireland
Company Limited by Guarantee
Notes to the Financial Statements (Continued)
Year ended 31 March 2023
12. Independent examination fees
2023
2022
Fees payable to the independent examiner for=
Independent examination of the financial statements
1,575
1,440
13. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows..
2023
2022
Wages and salaries
Social security costs
Employer contributions lo pension plans
155,424
8,400
3,035
86,636
3,304
1,705
166,859
91,645
The average head count of employees during the year was 6 (2022: 4).
No employee received employee benefits of more than £60.000 during the year (2022: Nil).
Key Management Personnel
Key management personnel include all persons that have authority and responsibility for
planning. directing and controlling Ihe activities of the charity. The lotal compensation paid to key
management personnel for services provided lo the charity was £79,282 (2022.'£69,136).
14. Trustee remuneration and expenses
The Charity Trustees were not paid or received any other benefits from employment with the
Charity in the year {2022- nil). No charity trustee received travel expenses during the year of
{2022'. nil). No charity trustee received payment for professional or other seNices supplied to the
charity (2022: nil).
23

Fighting Words Northern Ireland
Company Limited by Guarantee
Notes to the Financial Statements (Continued)
Year ended 31 March 2023
15. Tangible fixed assets
Long
leasehold
property Equipment
Total
Cost
At 1 April 2022
Additions
32,902
12,258
990
45.160
990
At 31 March 2023
32,902
13,248
46,150
Depreciation
At 1 April 2022
Charge for the year
At 31 March 2023
8,833
3,290
4,330
3,129
13.163
6.419
12.123
7,459
19,582
Carrying amount
At 31 March 2023
20.779
5,789
26,568
At 31 March 2022
24.069
7,928
31,997
16. Debtors
2023
2022
Trade debtors
Prepayments and accrued income
83,709
1,879
2.005
527
85,588
2,532
17. Creditors: amounts falling due within one year
2023
2022
Trade creditors
Accruals and deferred income
Social security and other taxes
623
1,894
3,592
8.757
1.896
3.402
6,109
14,055
18. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined
contribution plans was £3,035 (2022.. £1,705).
24

Fighting Words Northern Ireland
Company Limited by Guarantee
Notes to the Financial Statements (Continued)
Year ended 31 March 2023
19. Analysis of charitable funds
Unrestricted funds
At
1 April 2022
At 31 March
2023
Income Expenditure
Transfers
General funds
Designated Fund
50.928
34.501
(24,246)
16,294
20,000
77,477
20.000
50,928
34.501
(24,246)
36,294
97.477
At
1 April 2021
At 31 March
2022
Income Expenditure
Transfers
General funds
Designated Fund
85.253
20,685
(44,572)
(10,438)
50,928
85,253
20.685
(44.572)
(10,438)
50,928
Restricted funds
At
1 April 2022
At 31 March
2023
Income Expenditure
Transfers
Ulster Garden Villages
Limited
Belfast City Council
Department of Foreign
Affairs and Trade,
Reconciliation Fund
Irish Youth Foundation
Garfield Weston
Foundation
Trusthouse Charitable
Foundation
Esme Mitchell Grant
3,110
(17,243)
3,110
(600)
17.843
4,376
129,457
(70,438)
(4,375)
59,020
10.000
10.000
{2,020)
2,500
2,020
(2,500)
1.000
(1,000)
25

Fighting Words Northern Ireland
Company Limited by Guarantee
Notes to the Financial Statements (Continued)
Year ended 31 March 2023
19. Analysis of charitable funds (continued)
Community Foundation
for Norlhem Ireland
The Foyle Foundation
JP Mcmanus Charitable
Foundation
Tomar Trust
Halifax Foundation for
Northern Ireland
St. James's Place
Charitable Foundation
Community Foundation
for Northem Ireland
Community Arts Culture
and Heritage Fund
Arts Council of Northern
Ireland Health and
Safety
Northern Ireland
Executive, T:BUC
The Ireland Funds
America
Black Santa - Belfast
Cathedral
Nerve Centre
National Lottery
Heritage Fund
Backstage Trust
ACNI - Project 2021-22
Enkalon Foundation
Dormant Accounts
Community Relations
Council
ACNI - Covid Recovery
Programme Funding
Future Screens Nl
Access to work-
Communities Nl
Belfast Harbour
Community Awards
Arts & Business-
Blueprint
15,000
(15,000)
20,384
20,949
19,748
25.993
(19,748)
(27,291)
(20,384)
19.651
{7,546)
7,459
(11)
98
4.448
(4,448)
655
3,910
17,353
500
15,923
(250)
(9,731)
(7,671)
(500)
(49,904)
(405)
2,451
(10,761)
(500)
24.600
1.079
500
36.752
21.230
2.771
{2,671)
4.842
(4,003)
1,832
21.919
(12,493)
(100)
9,326
6.675
(6,205)
(470)
5.000
(6)
4,994
27,000
(4,571)
22,429
26

Fighting Words Northern Ireland
Company Limited by Guarantee
Notes to the Financial Statements (Continued)
Year ended 31 March 2023
19. Analysis of charitable funds (continued)
ACNI- Project 2022-23
Arts Council Arts
Development Fund
Ireland Funds Heart of
the Community Awards
Department for
Communities
Victoria Homes Trust
Halifax Foundation Nl
22,547
(17,344)
5,203
2,680
(2,680)
4,349
(4,349)
13.863
3.500
5.000
(15,111)
1,248
3.500
(5,000)
(287,439)
93,161
391,806
(36,294)
161,234
At
1 April 2021
At 31 March
2022
Income Expenditure
Transfers
Ulster Garden Villages
Limited
Belfast City Council
Department of Foreign
Affairs and Trade,
Reconciliation Fund
Irish Youth Foundation
Garfield Weston
Foundation
Trusthouse Charitable
Foundation
Esme Mitchell Grant
Community Foundation
for Northem Ireland
The Foyle Foundation
JP Mcmanus Charitsble
Foundation
Tomar Trust
Halifax Foundation for
Northern Ireland
St. James's Place
Charitable Foundation
Community Foundation
for Northem Ireland
Community Arts Culture
and Heritage Fund
Arts Council of Northem
Ireland Health and
Safety
Northern Ireland
Executive, T:BUC
The Ireland Funds
America
391
3,964
(4.955)
(600)
29,511
594
(25,135)
(594)
4.376
6,303
(8,323)
(2.020)
2,500
2.500
224
124
(224)
(124)
15,000
15,000
20,000
26.491
20,000
(19,616)
(5,542)
20.384
20,949
4,631
(4,631)
2.500
(2,500)
1,196
(1.196)
(10,438)
10,438
(7,546)
(7.546)
7.216
(7,216)
27

Fighting Words Northern Ireland
Company Limited by Guarantee
Notes to the Financial Statements (Continued)
Year ended 31 March 2023
19. Analysis of charitable funds (continued)
Black Santa - Belfast
Cathedral
Nerve Centre
National Lottery
Heritage Fund
Backstage Trust
ACNI - Project 2021-22
Enkalon Foundation
Dormant Accounts
Community Relations
Council
ACNI - Covid Recovery
Programme Funding
Future Screens Nl
Access to work-
Communities Nl
Belfast Harbour
Community Awards
Arts & Business-
Blueprint
ACNI- Project 2022-23
Arts Council Arts
Development Fund
Ireland Funds Heart of
the Community Awards
Department for
Communities
Victoria Homes Trust
Halifax Foundation Nl
587
983
450
6,930
(1,037)
(3,465)
4.448
9,100
(8,445)
(16,090)
(13,580)
655
3.910
17.353
500
15.923
20.000
30.933
500
23.333
(7.410)
1.750
(4,421)
(2.671)
11.965
(11,965)
102,635
144.541
(164.453)
10,438
93.161
Transfers have taken Pla￿ during the year which relates to fixed assets. Fighting Words
Northern Ireland used funding to purchase assets which have been transferred to Unrestricted
Funds as Fighting Words Northem Ireland fully own the assets, no restrictions have been placed
on these assets.
28

Fighting Words Northern Ireland
Company Limited by Guarantee
Notes to the Financial Statements (Continued)
Year ended 31 March 2023
20. Analysis of net assets between funds
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Tangible fixed assets
Current assets
Creditors less than 1 year
Net assets
26,568
77,018
(6,109)
97,477
26,568
238,252
(6.109)
258,711
161,234
161,234
Unrestricted
Funds
Restricted Total Funds
Funds
2022
Tangible fixed assets
Current assets
Creditors less than 1 year
Net assets
31,997
32,986
(14,055)
50.928
31,997
126.147
(14,055)
144.089
93,161
93,161
21. Related parties
No related parties in the year.
29