Fighting Words Northern Ireland
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 March 2025
2025
Restricted
fijnds Total funds
2024
Unrestricted
funds
Total funds
Note
Income and endowments
Donations and legacies
Charitable activities
Other trading acts'vities
Investment income
Other income
3,559
28,210
746
500
216,484
4,059
244,694
746
42,083
257,163
139
4,449
11,074
11,074
260,573
Total income
43,589
216,984
303,834
Expenditure
Expenditure on charitable activities
Total expenditure
10,11
35,424
261,644
261,644
297,068
297,068
357,212
357,212
35,424
Net expenditure
8,165
(44,660)
(36,495)
(53,378)
Transfers be￿een funds
{775)
775
Net movement in funds
7.390
(43,885)
(36,495)
(53,378)
Reconciliation of funds
Total funds brought forward
Total funds carried forward
146,378
58,955
205.333
258,711
205,333
153,768
15.070
168,838
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 17 to 31 fomi part of these financial statements.
15

Fighting Words Northern Ireland
Company Limited by Guarantee
ststement of Financial Position
31 March 2025
2025
2024
Note
Fixed assets
Tangible fixed assets
17
1.600
16,717
Current assets
Debtors
Cash at bank and in hand
18
21.160
218,621
41,234
157,114
239,781
198,348
Creditors: amounts falling due within one year
Net current assets
19
72,543
9,732
167,238
188,616
Total assets less current liabilities
168,838
205,333
Net assets
168,838
205,333
Funds of the charity
Restricted funds
Unrestricted funds
15.070
153,768
58,955
146,378
Total charity funds
22
168,838
205,333
For the year ending 31 March 2025 the charity was entitted 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 8
December 2025, and are signed on behalf of the board by:
P Crossan
Trustee
AM Gallagher
Trustee
The notes on pages 17 to 31 forni part of these financial statements.
16

Fighting Words Northern Ireland
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2025
General inforniation
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 Crescent Arts Centre, 24 University Road, Belfas( BT7 1 NH.
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 preparab'on 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.
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 earmarked by the trustees for particular fijture project or
commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or
through the terms of an appeal, and fall into one of two sub<lasses'. restricted income funds or
endowment funds.
17

Fighting Words Northern Ireland
Company Limited by Guarantse
Notes to the Financial Statements (continued)
Year ended 31 March 2025
Accounting policies {¢onlinued)
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 servi￿5 is recognised with the delivery of the
contracted service. This is classified as unrestricted funds unless there is a contractual
requirement for it to be spent on a particular purpose and returned if unspent, in which case
it may be regarded as restricted.
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 includes 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 impairment losses.
18

Fighting Words Northern Ireland
Company Limited by Guarantee
Notss to the Financial Statements (continued)
Year ended 31 March 2025
Accounting policies (c¢￿￿nUed)
Tangible assets {continugd)
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 propety
Equipment
10Yo Straight line
20°A straight line
Impaimient 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 at each reporting date.
For the purposes of impairment 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 g¢)odwill. the goodwill acquired in a business wmbination is, from the
acquisition date, allocated to each of the cash4Jenerating 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 charty becomes a party to the
contractual provisions of the instrument.
Basic financial instruments 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 received and not discounted.
Debt instruments are subsequently measured at amortised cost.
19

Fighting Words Northern Ireland
Company Limited by Guarantse
Notes to the Financial Ststements (eontinued)
Year ended 31 March 2025
Accounting policies (continued)
Financial instruments (Continued)
Vvhere investments in shares are publicly traded or their fair value can othe￿ise be measured
reliably, the investment is subsequently measured at fair value with changes in fair value
recognised in income and expenditure. Ail other such investrnents 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 activits-es. 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 significance, 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.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not
result in a carrying 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 Northern 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
20

Fighting Words Northern Ireland
Company Limited by Guarantse
Notss to the Financial Ststements (w?tinuedJ
Year ended 31 March 2025
Donations and legacies
Unrestricted
Funds
Restricted Total Funds
Funds
2025
Donations
Donations
Allen & Overy Foundation
The Rick O'shea Book Club
The Ireland Funds
3,559
500
4,059
3,559
500
4,059
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Donations
Donations
Allen & Overy Foundation
The Rick O'shea Book Club
The Ireland Funds
20,857
5,000
8,371
7,855
20,857
5,000
8,371
7,855
42,083
42,083
21

Fighting Words Northern Ireland
Company Limited by Guarantee
Notes to the Financial Statements {continuedJ
Year ended 31 March 2025
Charitable activities
Unrestricted
Funds
Restricted Total Funds
Funds
2025
Arts Council of Northern Ireland
Belfast City Council
Fighting Words Ireland - Story Seeds
SEUPB Peaceplus
Coca Cola Thank You Fund
Community Relations Council
National Lottery Dormant Accounts - Next Chapter
Garfield Weston Foundation
Graffiti Theatre Company
Clothworkers, Foundation
The Foyle Foundation
Halifax Foundation for Northern Ireland
RTE Toy Show Appeavcommunity Foundab'on Nl
A&0 Shearman Foundation
Future Screens Nl
Access to Work- Communities Nl
Arts & Business- Blueprint
Ireland Funds- Individual Donors
Ireland Funds- Heart of the Community Awards
Amazon Literary Partnership
DFA Strategic Partnerships
Fighting words Ireland - Creative Ireland
Irish American Partnership
Ulster Garden Villages- School Residency pilot
Esme Mitchell Charitable Trust
AABIE- ABB Charitable Initiative
52,178
16,852
52,178
16,852
3,205
813
3,205
813
8,249
8,249
5,000
5,000
10,000
10,000
21,038
21,038
13.500
13,500
993
993
6.500
6,500
63,964
26,685
7,557
5,000
2,000
1,160
244,694
63,964
26,685
7,557
5,000
2,000
1,160
28,210
216,484
22

Fighting Words Northern Ireland
Company Limited by Guarantee
Notes to the Financial Ststements (continued)
Year ended 31 March 2025
Charitable activities (continued)
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Arts Council of Northern Ireland
Belfast City Council
Fighting Words Ireland - Story Seeds
SEUPB Peaceplus
Coca Cola Thank You Fund
Community Relations Council
National Lottery Dormant Accounts - Next Chapter
Garfield Weston Foundation
Hope for Youth
Clothworkers, Foundation
The Foyle Foundation
Halifax Foundation for Northern Ireland
RTE Toy Show Appeallcommunity Foundation Nl
A&0 Shearman Foundation
Future Screens Nl
Access to Work- Communities Nl
Arts & Business- Blueprint
Ireland Funds- Individual Donors
Ireland Funds- Heart of the Community Awards
Amazon Literary Partnership
DFA Strategic Partnerships
Fighting words Ireland Creative Ireland
Irish American Partnership
Ulster Garden Villages - School Residency pilot
Esme Mitchell Charitable Trust
A4BIE- ABB Charitable Initiative
27.690
21.802
65.767
27,690
21,802
65,767
7,544
2,685
31,667
10,000
5,000
10,000
25,000
7,544
2,685
31,667
10,000
5,000
10,000
25,000
9,756
9,756
21,420
1,339
3,000
21,420
1,339
3,000
1,993
5,000
7.500
1,993
5,000
7,500
9,493
247.670
257,163
other trading activities
Unrestricted Total Funds Unrestricted Total Funds
Funds
2025
Funds
2024
other income
746
746
Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds
2025
Funds
2024
Bank Interest
139
139
23

Fighting Words Northern Ireland
Company Limited by Guarantee
Notss to the Financial Ststements (continued)
Year ended 31 March 2025
Other income
Unrestricted Total Funds Unrestricted Total Funds
Funds
2025
Funds
2024
Earned Income
11,074
11.074
4,449
4,449
10. Expenditure on charitable activities by fund type
Unrestricted
Funds
Restricted Total Funds
Funds
2025
Cultural education
Support costs
35,424
155,584
106,060
191,008
106,060
35,424
261,644
297,068
Unrestricted
Funds
Restricted Totsl Funds
Funds
2024
Cultural education
Support costs
25,760
225,747
105,705
251,507
105,705
25,760
331.452
357,212
11. Expenditure on charitable activities by activity type
Acttvtties
undertaken
directly Support costs
Total funds
2025
Total fund
2024
Cultural education
Governance costs
191.008
103,730
2,330
106,060
294,738
2,330
354,926
2,286
191,008
297,068
357,212
12. Analysis of support costs
Analysis of
support costs
Cultural
education
Total 2025 Total 2024
Staff costs
Premises
General office
Finance costs
Governance costs
40,596
7,861
4,184
51,089
2,330
40.596
7.861
4,184
51.089
2.330
41,210
12,229
7,280
42,700
2.286
106,060
106.060
105,705
24

Fighting Words Northern Ireland
Company Limitsd by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
13. Net expenditure
Net expenditure is stated after chargingl(crediting)=
2025
2024
Depreciation of tangible fixed assets
3.772
4,459
14. Independent examination fees
2025
2024
Fees payable to the independent examiner for:
Independent examination of the financial statements
2,330
1,733
15. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows".
2025
2024
Wages and salaries
Social security costs
Employer contributions to pension plans
175,861
11,423
4,819
173,414
10,736
3,598
192,103
187,748
The average head count of employees during the year was 6 (2024: 7).
No employee received employee benefits of more than £60.000 during the year (2024.. Nil).
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 charity was £100,152 {2024:£80,767).
16. Trustee remuneration and expenses
The Charity Trustees were not paid or receNed any other benefits from employment with the
Charity in the year (2024-. nil). No charity trustee received travel expenses during the year of
(2024: nil). No charity trustee received payment for professional or other services supplied to the
charity (2024: nil).
25

Fighting Words Northern Ireland
Company Limited by Guarantee
Notes to the Financial Ststements (continued)
Year ended 31 March 2025
17. Tangible fixed assets
Long
leasehold
property Equipment
Total
Cost
At 1 April 2024
Additions
Disposals
At 31 March 2025
12,681
15,954
218
(7,609)
8,563
28,635
218
(20,290)
8,563
{12,681)
Depreciation
At 1 April 2024
Charge for the year
Disposals
At 31 March 2025
1,268
1,268
(2,536)
10,650
2,504
(6,191)
6,963
11,918
3,772
(8,727)
6,963
Carrying amount
At 31 March 2025
1,600
5,304
1,600
16,717
At 31 March 2024
11,413
18. Debtors
2025
2024
Trade debtors
Prepayments and accrued income
2,864
18.296
21,160
40,569
665
41,234
19. Creditors: amounts falling due within one year
2025
2024
Trade creditors
Accruals and deferred income
Social security and other taxes
1.902
65.107
5.534
96
4,148
5,488
72.543
9,732
20. Deferred income
2025
2024
Amount deferred in year
62.777
26

Fighting Words Northern Ireland
Company Limited by Guarantee
Notes to the Financial Statements (continuedj
Year ended 31 March 2025
21. 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 £4,819 (2024- £3,598).
22. Analysis of charitable funds
Unrestricted funds
At
1 April 2024
At
Income Expenditure Transfers 31 March 2025
General funds
Designated Fund
126,378
20,000
146.378
43,589
(35.424)
{775)
133,768
20,000
43.589
(35,424)
(775)
153,768
At
1 April 2023
At
Income Expenditure Transfers 31 March 2024
General funds
Designated Fund
77.477
20.000
56,164
(25,760)
18.497
126,378
20,000
97.477
56.164
(25,760}
18,497
146,378
Restrlcted funds
At
31 March 202
At
1 April 2024
Income Expenditure
Transfers
Ulster Garden Villages
Limited
Belfast City Council
Department of Foreign
Affairs and Trade,
Reconciliation Fund
Garfield Weston
Foundation
Ulster Garden Villages
Victoria Homes Trust
The Foyle Foundation
Tomar Trust
16,852
(16,852)
6,873
63,964
(69,405)
1,432
20,000
(20,000)
5.000
5,000
3.645
(3,645)
27

Fighting Words Northern Ireland
Company Limited by Guarantee
Notes to the Financial Statements (Continued)
Year ended 31 March 2025
22. Analysis of charitable funds {continue
Backstage Trust
Dormant Accounts
Community Relations
Council
Future Screens Nl
Access to work-
Communities Nl
Belfast Harbour
Community Awards
Arts & Business-
Blueprint
ACNI- Project
2023-2024
7,246
8.249
(15,495)
8.492
21,038
(24,795)
4,735
200
(200)
5.000
13,500
(18.116)
384
1,187
(1,187)
28

Fighting Words Northern Ireland
Company Limited by Guarantse
Notes to the Financial Statements (Continued)
Year ended 31 March 2025
22. Analysis of charitable funds (c¢>ntlnued)
Ireland Funds Heart of
the Community Awards
Halifax Foundation Nl
Dept of Culture - Story
Seeds
Hope for Youth
Belfast City Council-
Arts & Heritage
Clothworkers,
Foundation
CFNI via The RTE Toy
Show Appeal
Coca Cola Fund
ACNI - 202412025
ACNI project 2023-2024
Donnelly Group
Foundation
SEUPB Peaceplus
Fighting Words Ireland
Creative Ireland
ACNI Small Capital
Grants
5.000
(5,000)
3.864
(758)
3,106
3.635
813
49,272
(4,133)
(49,272)
315
500
3,205
{500)
(3,234)
29
26.685
(27.431)
746
1,719
(1,621)
(261,644)
98
58,955
216,984
775
15,070
At
31 March 202
At
1 April 2023
Income Expendtture
Transfers
Ulster Garden Villages
Limited
Belfast City Council
Department of Foreign
Affairs and Trade,
Reconciliation Fund
Garfield Weston
Foundation
Ulster Garden Villages
Victoria Homes Trust
The Foyle Foundation
Tomar Trust
Backstage Trust
Dormant Accounts
Community Relations
Council
Future Screens Nl
3.110
{3,110)
16,852
(16,852)
59,020
(52,147)
6,873
10,000
10,000
20,000
3.500
(3.500)
(25,000)
(16.006)
(21,230)
(27,193)
25,000
19.651
21.230
2,771
3,645
31.668
7,246
2.685
21.420
(2,685)
(22,254)
9,326
8,492
29

Fighting Words Northern Ireland
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
22. Analysis of charitable funds (continuedj
Access to work-
Communities Nl
Belfast Harbour
Community Awards
Arts & Business-
Blueprint
ACNI- Project
2023-2024
Ireland Funds Heart of
the Community Awards
Halifax Foundation Nl
Dept of Culture - Story
Seeds
Hope for Youth
Belfast City Council -
Arts & Heritage
Clothworkers.
Foundation
CFNI via The RTE Toy
Show Appeal
Coca Cola Fund
ACNI - 202412025
ACNI project 2023-2024
Donnelly Group
Foundation
SEUPB Peaceplus
Fighting Words Ireland -
Creative Ireland
ACNI Small Capital
Grants
1.339
(1,339)
4,994
(4.794)
200
22,429
3,000
(20.229)
(200)
5,000
5.203
1,187
{6.390)
5.000
(4.806)
(194)
65,767
5.000
(61,903)
(5,000)
3,864
4,950
(4,950)
10,000
(1,960)
(8,040)
9,756
7,543
3,956
22,547
(5,315)
(3,908)
(1,444)
(22,547)
(4,441)
3,635
(2,512)
161,234
247,670
(331,452)
(18.497)
58,955
Transfers have taken place 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.
30

Fighting Words Northern Ireland
Company Limited by Guarantee
Notes to the Financial Ststements (continued)
Year ended 31 March 2025
23. Analysis of net assets between funds
Unrestricted
Funds
Restricted Total Funds
Funds
2025
Tangible fixed assets
Current assets
Creditors less than 1 year
Net assets
1,600
163.752
{11,584)
153,768
1,600
178,822
(11,584)
168,838
15,070
15,070
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Tangible fixed assets
Current assets
Creditors less than 1 year
Net assets
16,717
139,393
{9,732)
146,378
16,717
198,348
{9,732}
205,333
58,955
58,955
24. Taxation
The Company is a registered charity. and as such is entitled to tax exemptions on income and
profits in furtherance of the charity's primary objectives.
25. Contingencies
A contingent liability exists to repay grants and Trust monies re￿iVed should certain conditions
not be fulfilled by the charity. 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.
26. Related parties
No related parties in the year.
31