Craft Northem Ireland
Company Llmlted by Guarante•
Financlal Statements
Yaar Endgd 31 March 2023
Company No: N1642349
Charity No: NIC106410

Craft Northem Ireland
Company Llmltad by Guarantee
Table of Contents
Year Ended 31 March 2023
Page
Company Information
Report of the Trustees
3-11
Independent examinerfs report
12
Statement of Flnancl81 Activities
13
Balance Sheet
14
Noies to the Financial Statements
15-21

Craft Northern Ireland
Company Limited by Guarantee
Company Infomiation
Truste88
Rory Shearer
James Toland
Patricia Flanagan
Patricia Margaret McNeill
Rachel Fitzpatrick O'Neill
Kim Mawhlnney
Gail Wright
Chris Mchugh
Olivia Stewart
Address for correspondence
115-119 Royal Avenue
Belfasl
Northern Ireland
8T1 1FF
Roglstered Office
115-119 Royal Avenue
Belfasl
North8rn Ireland
BT1 1FF
Indopondont Examlnor
FPM Accountants Ltd
Chartered Accountants
1-3 Arthur Street
Belfast
BT14GA
Reglstered Charlty No.
Registered Company No.
106410
N1642349

Craft Northern Ireland
Report of tho Trustags
Year Ended 31 March 2023
The Trustees presents their annual report together the financial statement of Craft Northem Ireland
for the year ended 31 March 2023.
The Trustees confirms that the Annual report and financial statements of the Trust comply with the
Charitie5 Act 2008, the Companies Act 2006, the Artodes of Association, and the Accounting and
Reporting by Chari118s'. Statement of Recommended Practice applicable to charities preparing their accounts
in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (effective
1 January 20191.
Thls report provides information on Craft Northem Ireland activities and financlal performance and fom)s
part of a range of public information desSgned to give an open account of our work.
Objectlves and Activltle8
Objectlves and aim8
The charity's purposes 8$ set out In Ihe organlsatlons Strateglc Plan of the 8ord are the achievement of-
Our V181on
A diverse and 8U8taln8ble craft 88¢lor that makes 8 posillve conlributson to ltte culture. economy and wellbelng
of p8ople in Northem Irgland.
Our Ml881on
To contribut8 to an Integrated, 8ntreproneuri81 and vibrant contemporary crafts $8¢tor in Northem Ireland,
actively supported by regional and local stakeholders, that contributes increa51ngly Ig the creallve, cullural
and economic lif8 of Northérn Ireland.
Our Valuos
We will work in a way whlch..
18 ambitiou8 and outward-looklng
Builds p8rtnerships and co118borations
Flnds opportunities to pramote and advocate Nl Craft
• Is 8ducating, enriching, Insplrlng and Innovating
• Promote$ quality
• Is indusive and respotsttul
Top leval oblectlve8
Mak•rs
We want lo enab18 makers lo find training relevant to their business and to build beneficial ne￿orkS in Nl and
beyond. We will also support makers lo find professional development and learn about and last commercial
approaches.
We will sUPPOrt makers wlth open access Iralning and professional development programme opportunS1ies.
We will help people slay in touch and network through our Maker forums and newsletters. W8 will promote
craft through our Craft Nl Dir8Ctory of m8ker5 and retailers. our G8llery and our promollons and marketing
activities.
Audloncos & Markots
We will work toward5 audiences and buyers being able to find more high quallly craft across Nl and to see high
quality craft exhibitions easily. Vve also wanl to make it easier for people to find craft workshops, whether for
recreation or professional development.
We will create a new marketing str81egy 8nd develop our website. We will 8180 develop otjr juried 8xhibltlons
prioritising Nl makers. We will grow August Craft Month and through partnerships increase audiences both in Nl
8nd across the island of Ireland and among visitors. We will build relats'onship5 in eduGalion. local government
and across relevant stakehold9rs with an inter951 in a flourishing craft sector.

Craft Northern Ireland
Report of the Trustees
Year Ended 31 March 2023
Craft Nl
We vrdnt makers to see Crdft Nl as an inspirational Sour￿ of informatlon and advice. To rneet this and
our other objectives we will develop our range of income streams and lake care to support our staff. We wll
collaborate with a wider range of partners lo deliver value for the craft sector.
We wll run our adwce and 5ignposling servlce and grow the potential of our physical space as a resouic8 for
makers. We will create new plans for Gallery marketing. sponsorship and fundraising, and we will develop and
support our staff. We will develop relatSon5hlps wllh partners across the island5.
ACHIEVEMENT AND PERFORMANCE
Progre$$ Against Oble¢tive8
MakerJ
1.1 Slgnpostlng: During the year Craft Nl provlded ongolng support for deslgner-makers & sector through
signposting and information 8UPPOrt. Some examples of Individual support include..
Funding sour¢os
Guld8nce for prfclng work
Support on running a craft market
Weekly Plan C n8wsletter- circulatlon1S$l of 800 ¢raft makers
1.2 Talks and Tralnlng.. W8 also offered a serles of onllne Talks and Tralnlng to 8UPPOrt craft makers to
Increase the sUStalnablllty of Ihelr busin88ses, including=
.Craft in a circular 8conomy wlth Kati8 Tr8ggiden
.How lo be a Responsib18 Business with Sophle Rochester, helping craft businesses grow sustainably:
.How to improve your maker practiC8S to ba more sustainab18 With Sophie Roch&st8r, helplng makers becorne
more environmentally conscious in their craft practice through more sustainable alternatives.
Online Accounting with FPM
Product Photography for Beginners with Simon Mi118
Advanced Product Photography with Simon Mills
Intellectual Prop8ty Baslcs with Simon S8llars from Anti Copying in Oeslgn {ACID)
1.3 Plan C: Weekly Maker-focused newsleller sent by e-mail focuslng on grant opportunities, tr81ning,
business support and maker news.
AudlenGos and Markots
2.1 Accesslng hlgh quallty local craft
Craft Nl continues to sell work from over 50 Northem lrfsh makers through its Gallery at 115-119 Royal Avenue,
Belfast. Makers In Northern Ireland have the opportunity to apply annually to sell through the Gallery through
juried open call-out. From time to time, guest makers are invited to sell through the Gallery under a range of
circumstances, for example.. through being involved in an exhibition In the Gallery,. due to renown in their fleld-
because they fill a gap in the product range that cannot currently be met by a Northern Irish maker.
Guest makers are approved by the Craft Nl Board Quality Group.
Craft Nl contlnues to promote craft retailers who sell Northern Irish craft across Northern Ireland as well as
makers who sell direcly lo the public. In 2021122 we produced a monthly mail-out profiling news from the
sector. events and products from retailers. We also host a retailer Directory on the Craft Nl websito and durlng
Christmas we run a promotional campaign.encouraging the public lo support local makers when consid9ring
gifting options. Vve partnered with three local councils to promote makers.relailers,fairs and rnarkets through
radio and social media advert15ing gift guides organic social media and PR.

Craft Northern Ireland
Report of the Trustees
Year Ended 31 March 2023
2.2 Exhlbltlons:
Peter Meanley- New Works.. new works by renowned sall glaze potter Peter Meanley. who has won Intematlon81
acclaim for his abstract spouted pouring vessels and his mastery of the salt glazing technique
. Wool Works: an exhibition of contemporary textile design, featured innovative work from Welsh. Finnlsh and
Northern Ireland textlle a￿$t$, who have been working together since 2001.
Angus Craft Month Showcase: this annual exhlbition, Is a hlghllght of August Craft month. a unlque event
which features some of the best contemporary Northem Irish craft.
Paper Magic'.Through their artful mastery of skills such as culllng,pulping. foldlng,oiling and collaging. five talented
maker5 revealed the magical properties of paper in this unique group show.
Shuttles and Shafts- Oct- Nov 2020.. capsule exhibition relating lo historical cataloguing of plates from
Ewart-Lidd811 Linen Mill. Capsule exhibition will now b8 on permanent display in Lisbum Linen Museum
Curiosllles & Colloctibles.. For this exhibition, the Association of Contemporary J8wellers and Silversmlhs Nl
brought together 18 contemporary jewellers and silversmiths from all over the worfd. Each piece related lo the theme
"Collectibles and Curiosities. representing 8 wide range of narratives and cullur8S.
2.3 August Craft Month:.
In 2022, Craft Nl entered into a partnershlp with the Design & Crafts Council of Ireland and Cork Craft & Design to
deliver and co-promote August Craft Month across the island of Ireland. This was with 8 vlew to growrng audSences
for Craft as well os enabllng Nl makers to reach new audiences Island-wide.
In 2022. 265 events look place across Ihe island with an event in avery county. Participants and audl8nGes $urvayed
in the evaluation listed that they felt..
Makers particlpallng demonstrated a high lav81 of sklll
They would attend a similar event agaln
They had16aml somelhlng n6w about craft
Their understanding and appreclallon of crafts had increased
Makern told us that they had found partlclpating in August Craft Month uselul for:
Promoting events
Increasing activity
Attracllng new vlsltors
One maker In Co. Down commented.. "I w8s d81ight8d that my workshops rea¢hed a much wlder 8ud18nce and
8nd p8rtlClP8nts tr8velled from th& South of Ireland and much ftirth8r afi8ld as a rasult. 9 people bookgd
accommodation on 2 night5 to altend."
2.4 Communlcatlon$ and Campalgn$
Monthly sectOr-￿de newsletter aimed at craft consumers covering work for sale across all Nl craft retailers;
maker news and achievements. highlights of workshops and things lo do., éxhibitions. Buy, See, Make.
Craft Nl Gallery ￿mall newsletter monthly focusing on work in Gallery.
We continue to priorilise awarengS5-raising through social media platrorms across Craft Nl and Craft Nl Gallery
whose combined accounts reach approximately 27.000 followers.

Craft Northern Ireland
Report of tho Trustees
Year Ended 31 March 2023
Chrlstmas Promotional Campaign:
Q3 actiwties fccused on Christmas Promotional Campaign 'Buy for Chnstmas, Ke8p Forever, for the craft
sector in the lead up to Christmas 2021,encouraglng the publ1¢ to Gonslder a Nl designer-maker or craft
retailer when choosing glfts. Two local Counclls contributed funds towards the reglonal campalgn for
particular promotions wllhln Ihelr boroughs almed at thelr local makers. We're grateful to the following
Councils for their support:
Ards and North Down Borough Council
Antrim and Newtownabbey Borough Councll
Activities included:
Gift guides for soclal medla; dlgltsl media and direct mail
Radio ad6 during December on two stallons to ensure cov8ra98 across Nl and border counties
Social medla news and posts
2.$ W•bslte and Maker Dlrectory
In 2022, we conllnue lo promote th? Craft Nl Maker Directory through soclal medla promotional spotlights on
Dlreclory members as promoting onling. This Is wth a view to buildlng awar8nes5 of the Directory as a first
poinl of reference for curator8. audlences or ¢uslomer wanting to engage with craft makers. Recruilrnent to
the Directory Gontinues wllh applications asgassed quarterfy.
Craft Nl
3.1 HR and staffing
In 2022123,we were successful In our application to secure a paid post under the Nl Future Screen5 Art Work
programma. Thi5 enabled us to recruit a Digital Development Officer whose role Is to provide training, advice.
hO￿tOS and one to one support lo craft makers who wish lo improve the onllne aspects of Ihelr routes to
market and to bulld 8n Improved online presence whlch can help thelr businesses and craft practiC88.
The Development Officer startad in September 2022.
One Craft Nl Board member, Gal Wright, stood down In 2022123.

Craft Northern Ireland
Report of thè Trustees
Year Ended 31 March 2023
FINANCIAL REVIEW
Principal funding sources
Aslde from the Income generated by service provislon and commlssion on sales in the charity's retail gallery,
the charity's principal funding source is the Arts Council of Northem Ireland. In 2022123, Cffjft Nl are grateful lo
Belfast City Council for funding through its partnership programme.
Funds were also secured from the British Council to fund a scoping visit to Vietnam to establish arts partnerships.
Some income was also gener8ted through partnering with Antrim & Newtownabbey Councll to organise the Craft
Village at Garden Show Ireland, as well as through Project Management provided for August Craft Month in Rol.
Investment policy and oblectlv08
Aside from r8tsining a prudent amount in reserves each ygar mo$1 of the charity's funds ar8 spent in the short
tèm so Ih6r8 are no funds for long term investment.
R•8•rv•s pollcy
Thè charity operat85 a Reserves Policy a5 a prudent measure to ensure the continued operation of the charity in
the event of an imm8dlal8 flnancial requlrement due to unfor85een circurn5t8nGe5, Such ¢ir¢umstances might
aris9 as a result of, although not limited to, any or a number of the following..
. A source of Income not being renewed or reducod. Funds mSghl be needed to glve the trustees Ilme lo take
acllon if income f8115 below expec18tion5'
• Thè r¢sk of unfor858en emergency or other unexpected n8ad for fund8, e.g. an unexpected lar96 repalr blll or
flndlng 'seed-funding' for an urgent project.,
. Covering unfores88n day-to-day operational costs, e.g. employing temporary staff lo cover a lon*lerm
slckness absence.,
Planned commitments. Dr designations, that cannot be met by future income alone. e.g. a relocation,
plans for a major asset purchase or a significanl project that requires the charlty lo provide 'matched funding.;
Tha need lo fund short-l&rm deficits in a cash budget, e.g. money may need to be spent befora a fundlng grant
is recelved.
The board of dir9clors has reviewed both income and expenditure for the next year and has set aside an amount
approxlmallng to 15% of annu81 exp8nditur6. For the financial year 202312024 this approxlmat8S to £35,000.
The Board of directors have examlned the charlty's requirements for reserves in the light Df the maln risks lo the
organisalion and are confident that the reserves are sufficient to ensure the ¢onlinued operation of the charity now
and in the Immediate future.
The Board of Directors wlll reserve the rlght at any point in limo to draw down this reserve as mlght be required
whilst ensuring by all r8asonable means the earliest possible rebuildlng of reserves in Ilne with this policy.
FUTURE PLANS
The charity plans continuing the actlvities oulllned above in the forthcoming years subject lo satisfactory
funding arrangements.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governlng document
The charity is cgntrolled by it5 govorning documenl, a deed of trust, and constitutes a limited company,
lirniled by guarantee, as defined by the Companies Act 2006.
The organisalion is a charitable company limited by guaranlg8, incorporated on 24 November 2016 and regislered
as a charlty on 6 April 2017. The company was established under a Mernorandum of Association that eslablSshed
the objects and powers of the charitable company and is governed under ils Articles of Association. In the event
of the company being wound up mernbers are required to contribute an amount not exceeding £1.

Craft Northern Ireland
Report of the Trustees
Year Ended 31 Mar¢h 2023
Recrultmenl and appointment of new t￿Stee5
Truslees may be appointed by the currenl Board of Trustees and sh811 seNe for a period of three years.
which period can be extended by a further two terms of three years each by mutual agreement be￿een the
Board and the Trustee. On appointment as Trustee. the person shall becomo a company memb8r of the
charity.
A]1 members of th8 board of directors giv6 their time voluntarily and receive no benefits or expanses from
the charity. The charity actively promotes a board of directors that indudes a range of skllls, experience and
knowledge in keeping with the pursuance ol ils Objects. The traditional busine$$ skills are well repres8nled
on the board of directors. In an effort to maintain this broad skill mix, a board skills audit is carriad out
regularly, most recently in 2021 and in the event of particular skills being lost due to r&tiraments. future
board recruitment will give pnority lo the replacement of these skills.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organlsational *tructur•
As of 31 M8r¢h 2022. the charlty has a board of dlreclors of nlne membors who meet bi-monthly and are
r8sponsible for the strategic direction and poiicy of the charity. There is an Audit and Risk Sub-committee
and 8 Nornin8tion3 and Rernuneralion5 Sub-cornmittee. The Board's Qu81ily Committee decides on gallery,
retail and 8xhlblllon appllcallons.
Membsrs of the board of dlreclor5 are from a verlety of profe$gion81 background8 relevant to the V￿rk of the
charity. A schem8 of del8g8tion is in place and day-to-d8y responsibility for the provlslon of 88rvices rests
with the staff team. The Dlrectorls responslble for ensuring that the Gharfty dellvers the seNlceg specified
and that key perf0mar￿e indicators are met.
Induction and tralning of n•w trugt888
The existing Trustees are 8lready familiar with Ihg practlcal work of the charity and are encouraged to attend
any events organlsed by the charity. New tru51eeg wlll be Invlled and encouraged lo attend 8 series of short
training sessions to familiari88 themselves with the charity and the context within which It operates. These
wlll be led by the Chalr of the board of directors and the Chlef Executlve of the charlty and wlll cover..
- The oblig81ions of board of directors, members.,
- The main documents that sel out the operational framework for the charlty Includlng the Mamorandum
and Articles; Resourcing and the current financial position as set out in the lalesl publlshed accounts,.
Future plans and objectives.
R•latod partlos
In so far as11 is complimentary to the charity's objects, the charity is guided by both local and national policy.
The Arts Council of Northern Ireland is the lead development agency for the arts in Northern Ireland. Their
overall place the Arts at the heart of our social. economic and creative life,. Their strategic plan 'lnspir8,
Connect, Lead 2019 10 2024. includes..
Creating a confident. vibrant, arts infrastructure;
- Working with local government to strengthen lo¢al arts
Increase audiences for the arts
Build sustainability by helping organi5ation5 diversify inwme

Craft Northern Ireland
Report of thè Trustees
Year Ended 31 March 2023
Our programme of activities therefore fits the Arts Council of Northern Ireland's strategic objectives and therefore
Ihelr funding criteria. The Arts Council of Northem Ireland appoints an observer who acts as liaison officer wlth
organisalions in receipt of financial assistance.
It is a condition of financial assistance that th8 observgr 15 Invlted to attend all board meetings induding any
sU￿¢0MmIttee$.
Risk management
The Board of Directors has conducted a review of the major risks to ￿lch th8 charity is exposed and
risk register has b88n 8Stablished that is reviewed bi4nonthly at each Board rneeting. Where appropriate. systems
or procedures have b8en established to mitigate the risks the charity face8.
Th8 organisation is guided in 2022-23 by a one year business p18n. Under the 2022-25 three yaar Strategic Plan.
REFERENCE AND ADMINISTRATIVE DETAILS
Reglstered Company nUM￿r
N1642349 (Northem Ireland)
R•9l8tornd Charity number
106410
Reglstered offlce
115-119 Royal Avenue
Belfast
Antrlm
BT1 1FF
Trustees
Dr Christopher McHugh University Lecturer
R L Fitzpatrick-O'Neill Self Employed
P M F18nagan Sèlf4mploy&d
K Mawhinney Mus8um Manager (Chalr)
P M McNeill Business Park Manager
R Shear8r Self-Employed
Olivia Stewart Mark81ing Manager
J Toland Managing Director ITr8asur8r)
Gall Wright HR Manager (Resigned)
Cornpany 89Grntary
K Davidson
Indopendent Examiner
FPM Accountants
1-3 Arthur Str&8t
Belfasl
BT14GA
EVENTS SINCE THE END OF THE YEAR
Infomialion relating to events since th8 end of the year Is given in the notes to th6 financial statements.

Craft Northern Irèland
Report of the Trustees
Yaar Ended 31 March 2023
Disclosure of Infomiatlon to Independent Examlner
Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the
independent examination, but of bthich the independent examiner Is unaware. They have further confirmed that they
have taken approprlate steps to identify such relgV8nt information and to establish that the independent examiner is
aware of Such infomalion.
The trusteas, report wa8 approved by the Board of Trustees and signed on Its behalf by.
K Mawhlnney
Chairp&rson
10

Craft Northern Ireland
Statement of Trustees. Responsibilities
Year Ended 31 March 2023
The trustees, who are also the directors of Craft Northem Ireland for the purpose of company law, are responsible for
preparing the Trustees, Report and the financial slalements in accordance wlth applicable law and United Kingdom
Accounting Standards (United Kingdom Generally Accepled Accounting Practice).
Company Law requires the Iruste8S to prepare financial $talemenls for each financial year which give a true and fair
view of the state of affairs of the charity and of the Incomlng ￿sOurceS and application of resources, includlng the
income and expenditure, of the charitable company for that year.
In preparing these financial $tstements. the Iru81ee$ are required to:
select suitsble accounllng policies and then apply Ihem ¢on$lslentty',
observe the mothods and prfnclples in the Charltles SORP;
make judgements and 8stimales th8t ar8 reasonabl8 and prudenl.,
- slate whether applicabl8 UK Accounting Standards have bèen followed, subjeGt to any matorial dopartures dlsc103ed
and 8xplained in the financial Statements: and
prepare the financial statements on the golng concern basi5 unless Itls inappropriate to presuma that the charity
will contlnue in oparallon.
The trustees are responsible for keeping adequate accounting records that dlsclose with reasonable accuracy at any
lime the financlal posllion of the charity and 8nable them to ensure that the financial statements comply wllh the
Companles Acl 2006. They are also responsible for safeguarding the a$$8ts of the charSty and hence for taking
reasonable st8P8 for the prev8ntion and detectton of fraud and other Irregularlties.

Craft Northern Ireland
Independent Examinerfs R&port
Year Ended 31 March 2023
I re￿rt to the Injstees on my examlnatlon of the financlal statements of Craft Northem Ireland (the charity) for the year
ended 31 March 2023.
Re¥poD$lbllltl85 and basls of r•port
A¥ the trustees of the charity (and also Its directors for the purposes of company lawl you are responsible for the
preparallon of the financial statements in accordance with tho requirements of th8 Companies Act 20061th9 2006 Act).
Havlng satlsfied my8elf that the financlal statements of the charfty are not requlred lo be audited under Part 16 of the
2006 Acl and ara eligible for independent 8xaminallon, I report In respect of my examination of the charity's financial
8talemenls Carried out under section 65 of the Charftles Act (Northern Ireland) 2008 Ilhe 2008 Act) . In carrying oul my
examination I have followed all the applicable directions given by the Charity Commission under section 6519llbl of the
2008 Act.
Independent •xamln•rfs stat•ment
I have completed my examination. I confirm that no matters have come lo my attention in conne¢tlon with the
examination glving me cause lo believe that in any material respect..
accountlng records were not kept in respecl of the charity as requlred by Section 386 of the 2006 Act., or
the financlal stslemenls da not accord wSlh those records., or
the financial statements do not comply ￿th the accounting requirements of sgctfjon 396 of the 2006 Act
other than any requlremenl that the accounts give a true and fair view which IB not p matter Gon5idered as part
ol an independent examlnalion; or
the financi81 statements have not been prepared in accordance wth the method¥ and Principles of the
Statement of Recommended Practs'ce for accounting and reportlng by Gharltles applicable to charllles
preparlng thelr accounts in accordance wtlh the Flnanclal Reportlng Standard 8ppllcable In the UK and
Rapubllc of Ireland {FRS 102).
I have no roncems and have come across no other matters in conneGtlon wllh the 8xarnination to which attenllon
should be drawn in thls report In order to gnable a proper under¥landlng of the financial slatem8nl$ to be reached.
Lowry Grant FCCA
For, and on behalf of,
FPM Accountants Llrnlted
Chartered Accountants
1-3 Arthur Street
Belf35t
Co. Anlrim
BT14GA
Dated:
11-12-..ZoZ3
12

Craft Northern Ireland
Company Limlted by Guarantee
Statement of Financial Actlvltles
(Incorporatlng an Income and expenditure account)
Year Ended 31 March 2023
Total Funds
2023
Total Fund5
2022
Unreslrictod
Restrlclèd
Nol8S
Incom9 and endowrnents from:
Donations and legacies
175,078
219,526 158.228
Other trading activities
62.247
62,247
58,111
Total Income and endowments
106,695
175,078
281.773 216,339
Expendlture on:
Charitable Acllvltl&s
1102.5691
(168,670)
1271,239) (199.2481
Total Exwnditure
1102,569)
(168,6701
1271,239) 1199,248}
Net Income for tho yoar bofor• tran•f•r•
4,126
8,408
10.534
17,091
Transfers behveen funds
Not movement In fund8
4,126
6,408
10,534
17,091
Roconclllatlon of funds:
Total funds brought forward
67,215
67,215
50,124
Total Funds Carried Forward
10
71.341
6,408
77,749
67.215
All Income derlve$ from conllnulng actlvStSes. therefore no slalemenl of recognlsed gains or losses is given.
The notes on pages 15 to 21 fom part of these financial statements.
13

Craft Northern Ireland
Company Limited by Guarantee
Balance Sheet
as at 31 March 2023
Nots
2023
2022
Fixed AGsets
Tangible assets
7,539
1.834
Current Assets
Debtors
Cash at bank and in hand
19,341
59,690
79,031
9,236
71.716
80.952
Credltors: amounts falling due wrlhin one year
8,821
15,571
NET CURRENT ASSETS
70.210
65,381
NET ASSETS
67,215
Represented by.
Unre8trlcted Funds:
General
De8lgnated
10
61,578
9.763
55,952
11.263
Ra8trfctad Fund¥
10
6,408
87,215
The company Is entitled to th& exempllon from the audit requirement contalned In 8ectlon 477 of the
Companies Act 2006. for the yaar endad 31 March 2023.
Th8 directors ackno%￿edge their responsibilllles for ensuring that the charity keeps accounting records vthich
comply with secllon 386 of the Act and for preparlng flnancSal slalemenls whlch glve a true and falr view of the
stale of affairs of the company as at the end of the financial year and of ils incomlng resources and application of
resources, includlng Ils Income and expenditure, for the financial year in accordance with the requirements of
sections 394 and 395 and whlch olhanmise comply with the requirements of the CompanSes Act 2006 relating to
financial Slalements, so far as applicablo lo the company.
The members have not requlred the company to obtain an audit of its financial statements for the year in question
in accordance with section 476.
These financial slalemenls have been prepared In accordance with thè provlslons appIl￿ble to companies
subject to the small companies regime.
The finan
I statements were approved by the Trustees on ....
Kim Mawhinney {Ch
Trustee
Company Registration Number N1642349
The notes on pages 15- 21 form part of these financial statements.
14

Craft Northern Ireland
Company Limited by Guarantee
Notes to the Financial Statements
as at 31 March 2023
1 ACCOUNTING POLICIES
The prlnclpal accountlng pollcles adopted, judgements and key sources of esllmallon uncertalnty in the
preparation of the financial statements are as follows..
a) Basis of preparation
The financial slalements have been prepared in accordance wlth Accountlng and Reportlng by Charities:
Statement of Recommended Pracllce applicable to charities preparing their accounts in accordance with
the Financial Reporting Standard appllcablè In the UK and Republlc of Ireland IFRS 1021 (effective
1 January 20191- (Charities SORP IFRS 102)), the Finan¢i81 Reporting Standard applicabl& in the UK and
Republic of Ireland IFRS 1021.
Craft Northem Ireland meets the definStSon of a publlc beneflt enllty under FRS 102.
bl Preparatlon of the accounts on a going concern basis
At the time of approvlng the financial slatemenls, the trustees h8ve a reasonable expectation that the charity
has adequate resources lo continue in operational existence for the fores8eable future. Thus the trustees
conllnue to adopt the golng concern basis of accounting in preparing the financial statements.
c) Fund Accounting
General funds are unreslricled funds which are available for use al the dlscrellon of the Truste8s In
furtheran¢e of the general oblecllv88 of the Charlty and which have not been designated for other purpo8e8.
General funds may be transferred lo designated funds where Trustees wish to use thes8 fiJnds for a
specific purpos8. Such funds may be transferred back to general funds onGe the criteria ft)r the designalion
have been Met or are no longer appllcable.
Resblcted funds are funds whlch are to be used Sn accordance with specific r8slrfctions imposed by
donors or whlch havg been raised by the Charity for particular purposes. The cost of raising and
adminlstering such funds are charged against the specific fund. The airn and usg of restricted funds is
Set out in the notes to the flnancial slalemenls. Restri¢led funds may only be transferred to general or
daslgnaled funds once the criteria for restriction have been di8charg8d or no longer 8ppIy.
dl Income Recognllion Pollci8S
Items of income are recognised and induded in the accounts when all of the following crlteria are met:
Thè charity has enliilemenl to the funds.
any performance condltions allached to the It&m of Income has been met or a￿ fully within the control
of th6 charity.,
there is suffici8nl certainly that recelpt of lh& Incom818 considered probable., and
the amount can b& measured reliably.
el Donated s•rvlce$ and facilities
In accordanc8 wlth the Charltles SORP IFRS 102), the general volunteer Ilme of support8rs Is not
recognis9d.
Q Inte￿$t Recgivabl8
Interest on funds held on deposli Is Included when recelvable and the amount can be measured rellably
by the charity., this is normally upon r)olificalion of the interest paid or payabl8 by the Bank
15

Craft Northern Ireland
Company Limited by Guarantee
Notes to the Financial Statements
Year Ended 31 March 2023
1 ACCOUNTING POLICIES (continued)
g) Expenditure and irrecoverable VAT
Expenditure Is recognised once there Is a legal or constructive obllgation lo make 8 payment to a third
party, it is probable that S9tt1ement will be required and the amount of thg obligatlon can be measured
reliably. Expenditure Is classifigd und8T th8 followtng acllvity headings-
Expenditure on Gharltable a¢tlvllles Includes the costs of supportlng refugee families and activlties
undertaken to further the purposes of the charity and their associated support costs
other expendllure represents those Items not falllng Into any other heading
Irrecoverable VAT Is charged as a cost against the aGtlvlty for whl¢h the exp8ndlture w89 incurred.
h) Ajlocalion of support costs
Support costs are those functions that assist the work of the charity but do not directly undertake
charitable acb'vilies. Support costs include back office costs, finance, personnel, payroll and governance
costs which support the charity's programmes and activities. These cost5 have been allocated between
cost of raising funds 8nd expenditure on charitable actlvltles.
I Cash at bank and in hand
Cash at bank and cash In hand includes cash and short term highly Ilquld investments wllh a short
maturity of thre6 months or less from the date of aGquisition or opening the deposit or similar account
11 Tanglble Fixed Assets
Individual fix8d assets are capitalised al cost and are depreciated over th8ir estimated useful 8conomlc
Ilves on a straiaht line basls as follows..
Asset Category..
Annual ￿te
Fixtures, flttlng$ and equlpment
Computer Equipmont
10% Slraighl Line
33Yo Slralghl Llne
The carrying values of tangible flxed ass81s are revlewed for Impairment when evonts or clrcumstances
indicate the catyng value may not be recoverable
k) Debtors
Trade and other debtors are recognised al the 59111gmont amount due after any trade discounl off8r8d.
PTrpaymentS are valued at the amount prgpaid after taking account of any trade discount due.
11 Creditors and Provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past
event that will probably result in the transfer of funds lo a third party and the amount due to settle the
obligation can b8 measured or estimated r&liably. Creditor8 and provisions aw normally r&cognised at
their settlement amount after allowing for any trade discounts due.
m) Pensions
The company operates a deflned conlributlon penslon scheme. Contrfbulions are charged in the
statement of financial aclivllies as they become payable In accordance with the rules of the scheme.
16

Craft Northern Ireland
Company Limited by Guarantee
Notes to the Financial Statements
Year Ended 31 March 2023
1 ACCOUNTING POLICIES {contlnued)
n) Taxation
The company is a registered charity and the charitable tax exemptions ar8 therefore being claimed to
the exlenl that income andlor gains are applicable and applied to charitable purposes only. These
exemptlon5 wlll remain in place as long as income and expenditure is applied to charitable purpos85 only.
ol Financial Instruments
The Charity has 8lecled to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12
Other Flnancial Instruments Issues, of FRS 102 to all of its flnancial Instruments. Flnanclal Instruments are
recognlsed in the Charity's balance sh891 when the Charity becomes paty to thg contractual provisions
of the Instrument.
Financial ass8ts and liabilities are offs8t, the nel amounts are presented in the financial stal8menls,
when there Is a legally enforceable right to sel off the recognised amounts and there is an intention to
setue on a net basis of to réalisa the asset and settle the liability simultaneously.
Basic financlal assets
Baslc flnanclal ass6ts are Inlllally measured at transacllon prl¢e IncludSng transacllon cosls and ar•
subsequently carri8d al amortiseé cost using the effedive interest melhod unless the arrangement
¢On51ilute5 a financing transaction, where the transaction 1$ measured al the present value of the future
re¢eiptB dlBcount8d al a market rate of interest. Financial assets classified as receivable within one
year are not amortlsed.
Basic flnancial liabilities
Basic financial liabllilles ara initlally recognised al transaction price unlass the arrangement conglllulas
a financlng Iransaclion, where the debt Instruments is measured 8t the present value of the future
payments discounted al a rnarket rale of in18resl. Financial liabilities classified 8s payable within on8
year are not amortised.
Debt instruments are gubsequently carrled at amortised Cost, using the eff8cllv8 Interest rat8 method.
Tradè creditor5 are obligailons lo pay for goods or services th81 have bean acquired In the ordinary course
of operations from suppliers. Amounts payable are classified as current Ilabilllies if payment Is due
within one year or less. If not, they are presented as non current liabilitl88. Trade credltors are recogn58ed
initially al tran68Ctlon price and subsequently m&8sur6d at amortls&d cost using the effective interest
method.
Derecognition of financial liabilities
Financial liabilities are d8recognis8d when the Charivs ¢onlraGlual obligations gxpire or are discharged
or cancelled.
p) Critical accountlng 8Stimates and ju(tgement$
In the application of the Charity's accounting policies, tha Trustees are requi￿￿ lo make judgements,
esllmates and assumption5 about the carrying amount of a$$ets and liabllllles that are not readily
apparent frorn other sources. The estimates and associated assumptions are based on historical
experience and other factors that are considered lo be relevant. Aclu21 results may dlffer from these
estimates.
The estimates and underlying assumptions are Trviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period In which the estimate is revised where the revision affects only
that period, or in the period of tha ravision and future periods where tha revision affects both cuffent
and future per(od$.
17

Craft Northern Ireland
Company Limited by Guarantee
Notes to the Financial Statements
Year Ended 31 March 2023
2 Income from donatlons and legacies
Total Funds Total Funds
2023
2022
Unrestricted Restricted
ACNI Annual Funding Programme
ACNI H&S Equip 2022123
Design & Craft5 Council of Ireland
Belfast City Council
Ulster University- ArNvork Employablllty
The British Council
DOF Emergoncy Grant for RataSler
Bursary from Nl Gulld
143,404
6,255
143.404
6,255
26,448
18.000
21,919
142,404
26,448
18.000
21,919
3,500
2,561
13,263
44,448
175,078
216,026
158,228
The 2022 total of £158.228 was split £15,824 unrestricted and £142,404 r8Stricted
3 Incomo from Tradlng ActI￿tIo•
Total Funds Total Funds
2023
2022
Unrestrl¢t•d R•8trl¢tad
Gallery Salés
62,247
62,247
58,111
62,247
The 2022 total of £58,111 was all unrestricled.
4 Re8uIts forth• yoar
The results for the year has bean arrived at after charging Ihe following..
2023
2022
D8preciation
881
334
S Expgndlturg on charltablg aGtlvSty
Total Funds Total Funds
2023
2022
Unre8trlcted Restrlcted
Dlrect Charllable
Support Costs
Govemanca Costs
97,736
2.287
2,546
165,740
2,930
263.476
5,217
2.546
192,374
3,534
3,340
102,569
168,670
271,239
199.248
18

Craft Northem Ireland
Company Limited by Guarantee
Notes to the Flnanclal Statements (cont)
Year Ended 31 March 2023
6 Analysis of staff ¢osl$:
2023
2022
Salarles and Wages
Social security costs
Other Penslon Costs
147,990
9.558
7.104
164,652
90.778
7,289
4.973
103,040
The average monthly number of employees was 8 {2022: 7) and the average monthly number of
employees during the year expressed as full time equlvalents was as follows (induding casual and
part lime slaff)-
2023
Number
2022
Number
Charitable acuvllles
No employe8 has emoluments In 8x¢e8s of £60,000. 12022: 0)
The ¢harlty Truslees w8r8 not paid nor did they receive any other beneflts from employment wlth the
charlty in the year (2022: £nlll nelth6r were they reimbursed expenses durlng the year (2022: £nill. Ni
chadty Trugtee recalved payment for professlonal or other services supplied to th8 charfty12022= £nll
7 Tanglble Fixed Assets
Flxturn8,
flttings and Computor
equlpm•nl
equlpmant
Total
Cost:
As at 1 Aprll 2022
Additions
As a131 March 2023
3,337
134
6,386
6.520
3.471
6.386
Depreciation:
As at 1 April 2022
Charge for the year
AS at 31 March 2023
1,503
334
134
347
481
1,637
681
2.318
Nel Book V81ue
As at 31 March 2022
1,834
1,834
As at 31 March 2023
6,039
7,539
Debtors
2023
2022
Trad8 Debtors
Accrued Income
Prepayments
7.000
11.670
671
19,341
1,450
7.171
615
9,236
19

Craft Northorn Irèland
Company Llmlted by Guarantee
Notos to the Financial Statements Iconl)
Year Ended 31 March 2023
9 Credltor•: amounts falllng due wlthln one y•ar
2023
2022
Trade Creditors
Othgr Taxe8 and Social Securtty Costs
Accruals
ACNI Grant to bg Rgfunded
2.563
3.428
1,830
1,000
10.268
2,473
1.830
1.OCiI
8,821
15,571
10 An•lysls of Mov•m•nt8 In Funds
Openlng
8alanco
Asat31
March 2023
Income
Expendlturn
Unrestrlcted funds
Ger+eral fund8- all funds
Deslgn8tsd Funds
55,952
11.263
67,215
106,695
1101.0691
1,500
1102,569)
61,578
9,763
71,341
106.695
Re•trlcted fund¥
Ra81ricled fundB- all funds
175,078
188,670
6,408
Total
67.215
281,773
271.239}
77.749
Thg deslgnated fund relates lo Ihe Guild Bursary receSved from thè fomer Nl Gulld of Deslgner Craftsmen lo
be used lor the advancement of the craft sector in Northern Ireland.
11 Analy818 of Mov•m•nt• In RHtrlct•d Fun
Oponlng
Balanco
A#at31
March 2023
In¢arn•
EXpondI￿re
ACNI Annu81 FundSng Programm•
ACNI H&S Equlpmenl Grant
Ulster Universlty Artsvork Employablity
Tho Brlllsh Council - Viglnam
143,404
6,255
21,919
3.500
{ 142.9)4)
1347)
(21,919)
I3,5￿}
500
5,908
175,078
168.670
6.408
20

Craft Northem Ireland
Company Limlted by Guaranto8
Notas to the Financial SL*ements (cont)
Year Ended 31 March 2023
12 Analysls of net asseti bet￿trn funds
Unreslrlctod Restrfctsd
funds
funds
2023
2023
Total
funds
2023
Total
funds
2022
Tanglble fixad 8tssets
Current assets
Creditors amounts falling du8 withln ona yaar
1,500
78,662
(8.8211
6,039
369
7,539
79,031
18,821)
1,834
80.952
115.571)
71,341
6.408
77,749
67.215
21

The following pages do not form
part of the financial statements
which are the subject of the independènt
examinerfs report on page 12

Craft Northern Irèland
Company Llmited by Guarantee
Notes to the Financial Statements (cont)
Year Ended 31 March 2023
Analysis of expenditurn on charitable activlties:
Totsl Funds Total Funds
2023
2022
Unrestricted Restrictod
Wages
Pensions
Subcontractors
Gallery Suppli85
Ront and Rates
Ingurance
Llght and Haat
Telephone
Postage and statlonery
Publicity and marketlng
Miscellaneous gXP9n59S
Mainlen8nc8 and 5gcurity
Exhibition costs
Chrlstmas Campalgn
Subscrlpllons
Storage of exlsllng equlpment
IT support
Maker development
Legal and professional
Travel and subslst8nce
Staff training
ACNI Organlsatlons Emergency
Other Programmlng
August Craft Month
L8unchpad
Room Hlre
06preclation of tangible fixed assets
Bad debt
Support costs
Govemance Costs
39,444
7.104
118,104
157.548
7,104
98,067
4,973
18,409
3.882
9,913
1,732
1,896
1,251
629
1,569
1,005
2,360
2.053
4,258
1,565
3.882
38,712
1,732
3,896
1,251
629
4,623
1,003
2,360
3,989
4,258
1,565
28,799
28,955
957
2,839
4,009
578
7,053
2,242
1,525
2,602
2,000
3,054
1,936
2.804
1,360
965
1,935
5,422
807
150
1491
1,013
2,000
3,013
960
4,383
1,219
383
1.219
4.000
345
14,621
200
345
20,121
200
5,500
6.345
192
334
100
3,534
3,340
334
347
681
2,287
2,546
2,930
5,217
2,546
102,569
168,670
271,239
199,248
The 2022 total of £199,248 was split £56,844 unreglricted and £142.404 restrlcted.
Analysls of gov•rnan¢• and Support ¢osls
Total Funds Totsl Funds
2023
2022
Unregtrlcted Re$trl¢t•d
Bank and card transaction charges
Accountancy fees
2.287
2.546
2,930
5,217
2,546
3.534
3,340
4.833
2,930
7.763
6.874
The 2022 total of £6,874 was Un￿strIcted.
23