Crnft North•m Ir•l•nd Company Llmlted byGuaraftt4• Fth•n¢lal 8tat•m•nts Y•ar Ettd•d J1 Mah 2024 ¢ompw No.. NIU42349 Chailty No- NIC11M410
Craft Northem lrnland Company Umltsd by (knTantsa Table of Contents Year Ended 31 March 2024 Cony8ny Infomaoon Rwt of th• TfU8to88 Ststam•rt of Flnandd Actlvltt 11 8h8ot 12 FlnJn¢lal StataryJont• 13-19
Craft Northern Ireland Company Limited by Guarantee Company Infomiatlon Trustees Rory Shearer James Toland Patricia Flanagan Patricia Margaret McNeill Rachel Fitzpatrick O'Neill Kim Mawhinney Chris McHugh Olivia Stewart William Fitzpatrick (appolnted 13 June 2024) Addr083 for corr88pondenc• 115-119 Royal Avenue Belfast Northem Ireland BT11FF Rogl8terod Office 115-119 Royal Avenue Belfast Northem Ireland BT1 1FF Independent Examlner AAB Group Accountants Limited 1-3 Arthur Street B8lfast Co. Antrim BT14GA Regl8terod Charlty No. 106410 Regl8tsred Company No. N1642349 Company Secretary K Davldson Bank Ulster Bank 2-8 Market Street Downpatrick County Down BT30 6BU
Craft Northem Ireland Rort ofth• Trugts•s Year Ended 31 March 2Q24 The Trustees presents tholr annu81 r8POrt 1og8therth the financial statemonts ofcraft Northem Ir8land for the year ended 31 March 2024. The Truste8s conflfm th8t the Annual Teport 8nd fingmal Ststents ol the Trust COMpv1th the Charities Act (Northtsrn Ireland) 200B, the Colrponles Act 2006. the AFliGl85 ofAssodBlJon, and the Acttjuftting and Repoth"ng by ChaMes'. St&tengnl of Recornmanded Pr8clce opplicable to charfff85 yèparfng lhr accounts In accordance th thè Flnanclgl Rèporung SlaThlards applicable In the UK and R8publle of Iialand leff8cbv• 1 January 2019). Th15 f8Frf)rt provlde8 information on Craft Northern Irolarnd 8ctivilbBS and fin8nrAdl perfom7anu •nd forn part of a r4ngg of pubNc InformaOn designed to gwe an open 8cGounl of ourworL Obl•¢tlve$ and •lmi Th• PJfP)$95 yel out in the organlselons Stratsdc Plen ofth• 8oerd if0 the a¢hiev•m•rt of: Ourvlolon Adverne ¥nd sustalngbl¢ craft$ectOT that ffAke¥ e POBillve conlrfbuuon to th• ¢uttur•, •¢onorry and wellbelng of peopl8 in NDrthern Irgland. Our Ml••lon ro eontdbute lo an Sntsgratetj, antropron8urial 8nd vlbrant cont?mporgry 8OCtor In North•m Iroland, v8ty ?UPPDrted ty regiong18nd local st8k•hold•rJ, that contslbutvs Incf8a8lngly to th8 er•&lv8, cultur•l d econoNC Ufe Df Northorn Ireland. rV•lu We wlll In 8 way whlch.. Is 8rntsttous and ou9rd-1¢{5kj9. . Bullds p4rtn9lshl ond coll&borolJor#J.. • FlTrds opportunlUe8 to promote and advoGatg Nl Craft. * Is educ811no, enrfGhlng, Insplrfng and Innovbtlnu. . Promotes qu811ty. .18 Inclu81ve and rtspB¢trul. Top l•vd obj•eth•s Mok•rs W& wgnt to enabl• makern to ffnd traInI roknvart to th8lr buslno88 and to tsjlld ben8fldil nettrkS In Nl and bèyond. We Mill also BUPPOrt mBkèr81o ffind profes8tono1 developrnnt 8nd1gam aboLrt and tost commorcl81 approachs We 11 support maker8 open aceèis trxining aThJ profess1c81 dfjvdopment programmo opportunbO•& We w411 help peDplo slay In touch and nefvlorklhrowh our Makerforums and newslettets. W• wlll pronb)t LY8ft throuoh our Croft Nl Dlrectory of mDkeTS 8nd rot11, our Gouory and our prornollon$ an¢ mrkgtlng eGlbO8. Audlencgs & Markets We V]1 work trwards oudlon$ and buyors bwng obl• t¢ flr#l nvjro hlgh quamy ¢raft acro88 M and to Ngh quafity ¢rgftexhlblllonB 8aslty. We also to make It eaBJer for poople to ff Tra craft workshoFB. whelher fur ro¢r88tion or profèsslon?I developm8nL Wo %%dll veate a n8w marknn9 strategy and d8velop ourhbsite. Vve wll also develop ourjufied exhitMlion6 prioritsBing Nl mokors. Wg will grow Augu¥l Craft Month and through pertner5hiFe increese audIen$ both in Nl aThY a05$ the l$land of Ireland and among visilor3. We %thll trJild r8laUonshlF6 In oduc8llon, lo(sl govgmment aT*I acro65 r818vanl 5tskeholders wlth inleTe8t in a Ifourlshij craft 8ectoi.
Crnft Northem Ir•land Report of th• Trustees Year Ended 31 March 2024 craft W$ makers to $88 Craft Nl gs an inspirional source ofinformtion and advlce. To rnaet INS our other oblecbves we 11 develop our raJwJ8 of Incomè strèams and lake re to SUPF¥)rt our staff. We 11 collaborats wilh a der range tsf partn8r5 lo d81iver valug forth8 cr8ft sector. Wg 1[ run our advlc• and slonposling gervlce And omwthe Potsnllal of our physlcal sp¢• as o r¢sourc• for rriakers. We ?11 cresla isew pls¢iS Igr gallery Maeting,. sponsorship and 'idraisng. and we 11 davglop and sknpport our Blaff. W• thall dev8lop r8190onship5 p&rtn8ts 03$ the1slands. ACHIEVEMENT AND PERFORMANCE Progr08s Ag•lnst OWodve8 l. Mak• 1.1 Signpostthg: Durlng thé y8ar Craft Nl provkyed ongc4ryJ support for da81gner-makor8 & 8•Ctorthrouah Sign&'ng and Infomipllon Support via iespondng to indlvldu81 quer1 8nd vla our Weekly P18n C neABl8tt¢r - ula10n Ilst 0180) cr•ft makers Fundlw 8ourca8. Guldan¢e for ylcfjng work. Support on runnlng a cr8ft mllrket. Wéèkty Ploh C nlottOr- cJrcuf811tsn listuf.800'crnft rrokarn. 1.2 Talkj •Trd Trthlni: Wo 4150 offerod 8 s•fi•B of onlln• Tglk8 Tr•In1 to ¥upport L¥aft mth8rB to Incroase th& su8talnabllty oflhdr bun9$80s, Inththng.. . SpeclAllstl•w811orylm&tsL4 tglk from Bryony Knox I1h a sp•dill•m In r•pouue ar ¢h#lng: .Product rthotography th Slmon MJNS. Mng D85ign Clrcularwith IK81(# Tr•ggldd•n. We ran two mgkèr forums th orb5t tglks - on8 in 881fBBt fromAnna Gordon, LoctuT8r In Jellvry & sI1th1n at GIg0W School of Arfs and • second in DeryLoTrJond6rry a m8kertslk from tèxblè 8rtlst knlttèr Ed•1 Mac8rlde which 8ttraded over 40 p8rfJdpantB at eath. Wfr partnered llh Oerry Clty Coundl for th• M8ker Forum th8r• and ar gratalul to thèm for 8haring co8t. 1.3 Cockpit Arts: We wcured'four pl8cw on * I&0k onllno m8kordovatopin•ntwooranYrn njn by C¢xkplt'Arto' coCkt studlos Is reCogned as an èxemplar In Incubating craft busln888es thmugh dtes in London, and tho programme WAS run by CockF4t* Haad of BUne18 Inbayon Progrnmmos Da¥ld Cruny. 1.4 Plan C: Weekty Makèr-focu6ed newsletter 8ènt by a-mall loctssing on grAnt OP[eB, tralnlng, bun@6 8UPPQrt and makgr n. The fflallng 1st r•8chss over 800 craft mbkorn vlth 8 conslstent S0%+ op•n rate. 1."6. Taanks to SUFf)Ort Irom Future Screens Nl's Art Work Nogramme, w•r• 4bbe to •rnF4oy 8 Thgttal O•v•bpment Offlcer to offor tralnlng In the loUo¥%tng area UndeTSt8ndlTrJ soci81 nwdle. Crealng content for social m•Jia. Ind¢vlduBI ong lo ono 8UkWOrt rg8chlng 43 mk¢ TT8irlng progromnw in uslng Canva.
Craft Northern lrnland Report of the TNstees Year Endod 38 March 2024 2. Audlenc•s •nd Mark•ts 2.1 Acc•sslng high qu411ty local craft Crnft Nl ConnuES to sem wort from QVBT 50 Northern IthBh maknr31hrough Its G8llery at 11>119 Roy41 Av¢nue. Bgmast. make In Northern Iièlatyj havv the opportuth to appty annualty to 9oN through the GallBry through a juried open Cowo. From 16m to Umo, guest makèrs arg invited to s8Jl through the Gallery und¢r of CArcurnslance8, frjr ex8mpJg.' through boing Invotad In an 8xhlbltion In the Gallery., due to renowi In thelr field", because they fill 4 gap In the produd raroe that cannot currentty be m8t by a Northem It1ah rn8k•r. Gu8strnakws are Apwov8d ty the CrBft Nl 808rd Group. Craft Nl conllnues to promote craft r8tsllws who sell North8Tn Iiish Graft across Northem ITel•nd, as well as makers who s811 (fIr8¢A to the publlc. We w(xJuc8d 8 mOn1h mll-oth Kyofillng ne from the sector, events 8r¥l prod19 Irorn rela1r$. Wè 8kn host a retaller Directory on the Craft Nl website and partner closety 4lth th888 #t Chrtslrna8 to r818e their profile on our soci41 thann&l¥ through sharfng vldeo content arwj nah oboutth•m. allmth a Yi8w lo encour4glThJ thg publlc to 8UPPOrt local makwd wJh•n considerin9 glthng opuons. Fortho flrntlJm•. wg partnergd vllh Gard•n Show Iroland. 2.2 Exhlbition•: •Carneron & Br••n Trunk show. month long show of full colleclton olthls le110ry busin038 wllh opponIty for them to meet cllents In Craft Nl Gafigry. •Sprkng Colhctors, 8howc•s•.' showcase olhork for Int¢matIOI vlsllors on • crall tourorgothod by Flow Gellery, London. •Pathways: August Craft Month èxhlt4Mon wlth PTlzes from hjnds donated by the Gulhj ofmaster Crnft Nl•k¥rd. .M•k•rs Who T•Hch.' 8howcB6e lo c818Ef8le Northern Ireland's l&lenled mak&r3 also loach crafts. In claswooms wrk0P5 and cornTh¥Jnltie8. •Journeys In 8ilv8r & Gold: Chrfstmas selllng showth8mad In aU510n to praelou# matals aeross th• rnnga ol Stxpfvnes. •QEST: work ol Nl makers who hav• rocelved awards Irum the Queen EIIz8beth Schdarship TruBI. 2.3 August Craft Month 2024: In 2024, Craft Nl contirtue8 Its partn•rsNplth the D¢sbn & Craft8 Councll of Irel•nd aNJ Cork Craft & De8lgn lo de1fv0r 8nd cwromot8 Augu8t Craft Month acmg the IslaThJ oflreland. ThIswe8 wlth a vlew lo oudlences fi)1 ¢faft a$ hEII as •nabln9 Nl makeis to reach now atyJlenui i8hnd-wlde. We wer• able to otcur¢ ¢ov•rag8: across th• l$land'. 122 plece8 of covw•ao. 54 r4Ke8 of Nl cov8T8ae. 88 c4•¢98 of ROI cov•r8ll•. 13 BroBtha5t rAec•s ofcov•r8ge. 31% olc0v9rnO Included sod81 rn1 enoaaement. 75% ofcoveraoe indudgd a fink to Ihe Auoust Cr8ft Monih wgb8ite.' In 2024 421 evert8 took 8¢& across the Islaftd, vlth 4t least one event In overy county. 163 averts took placo across Northèrn Iral8nd. An 8sllmated 1200 10 1,0 makers look part In 2024 aeross the l$land. estimatèd 80,NIO to 60.000 people vlsttsdthe alkisland avertts in I4. Our onllne audlence incrèased 66% from 2023 over I5,OQO vlsltofs to the ACM in 224. All-island ACM Farkbook ce8ch of ov8r478,OUD.
Craft Northern lrtland Report of the ThMta•s Yaar Ended 31 March 2024 2.4 C¢>mmunIc0ns and CampalgnB Monthly sectOrde new51etter almg(l al craft ¢onsum8rs cov8rtng thY)rk fDr 5alB acr055 all Nl ¢raft retsile maker ond ochlovement3,' hlghllghts ofworkshops and thi$ to do.. exhibluD. Buy, So0, Make. Craft Nl Gallory e•mail rbew31ettgr rrK•ntNy fo(yJ&rw on YJrk In G81fery. We contlnue to prtorfti5e awar8ne8>rai51ng through so¢yal medla plAtformB acr08s Craft Nl Craft Nl GaIry comblned sccounts r8ach ovèr 30,000 followeTS. 15 W•bsit• and Mak•r Dirnctory In 2024, we conttnue to promote tha Craft Nl Makar Diiectory thrOh soclal mBdla prcrnotlon•J spoligms on Dlrectory membLrs a$ prumotTng onllné. Thls Is wlth 4 vlew to buildlno aMreness of th8 CMr8Ctory as 8 flfst polnt of r8f8rence for curaior5. audiences or customrvmntiro lo ?ngage wlh craft rnok8r5. Recruttftwnt to th? Dlr•dory ¢onJrue8 to In¢rga8•w5th aPICaon9 as$gssod quarter and aurrenly 128 rnornb8r8. 3. Cr4tt J.1 HR and thfflnq In 2023rd4 we had no change$ to the 8taff t••m. Thoro re no fftlgfiotlon8 from th• Croft Nl Board norw•r there Bny n8w appolnlmonts. FINANCIAL REVIEW Prfncip41 fvndlng sourc A81de from tha Income geneiat•d by servlce provlsloTh and ¢omtrlsBlon on yele8 In the ch8rfty's T811 g8118ry. thè ¢harttyB prfnc4p•l fijndlnll Jourc•1s the Arts Councjl ol Northam Iraland. In 20zJr24, Cr8ft Nl are gratsful to through B•lf8St Cty Coundl lor fvnEllng through Its partneTBNp praraMMe and to Futurn 8cr••ro Nl for rundlng th• Art Work programmo. Incom was also gBn8ratod through p4rtn•rtro vAth Antrlm & Nawtownabbay Coundl on ¢rganl8lng th? Crnft VSllage at G•rd•n Show Iroland, as wo1188 through Pfolw¢t Manag?ment piovldad fDrAugu61 Craft Month In Rol. Inv•stm•nl pdlcy and oblo¢Uves.' Aelde from retalning a prudent arnounl In Te88Nos gath y••r most ofthe cherlty's fvnds ar8 sp8nt in th• shcrt t8rm 80 there are no funds for long term Inv8strn8nl. R•1Ve$ pollcy Th8 chgrlty operotes a Rgsgrves PoNcy 9¥ a prudont rneasur• to èn8ui¥ the conljnued opeTrllon ofth8 charfty In the •v8nt of an Immedi8t8 flnanclal requlr•ment du& to unfore8e8n drcumBt8ncgs. Such drcumstances rtht arfse as a r8EuIt of, Etthough not llwdlBd to, any or a nunthT of the folloKlng'. . A Source of IncDme not b8irvJ renewed or reduced. Fund8 mvJht be neod8d to giv8 th8 trLtslee8 ljrne to take action If Snc(rfne f8111 bolow OXPeLXatlttns,' . The rf5k of unfores88n ernergen or other unexp•d•d n•¢d forfund¥, e.g. an unexpobled largé r9r t411 or flndng'888d-fundlng' for an urgent proje*, . Covorfng unfore&pen day-t04Jay opeT8Uonal ts. e4. emDyIng tsffyor8ry stsff to covèr a long-term sicknegs ahance,.
Craft Northem Ireland Report ofth• Trust••$ Yèar Ended 31 Marth 2024 . Planned comrnltments, or designations. thJt cannot ba met ty fulure incom& abne. e.g. a relocahon. pJHn for a n4lor asset purGhas& 01 a &gnificant piojecl that requir8s the tharlty to pmide'm9tched fundln<'. . The noffl to fvThJ short-term defidts In a bIgl. 8.g. ny)n8y may nged to be spgnt before g fuThJl 9raTrt Is rad. The Board of directors hgvè ex4rTMned the ¢herityb requlrerngnts for reBgrve8 in the Iltht of msin risks to th lo the organi¥aOon and ar• confidgnl the reservev 4fe Buffidert to ensur8 Ihe continued operation ofthe chartty now and in the Immediate fijture. Tho Boord of Dlr8dars 11 T95eive the ght at gny polnt In15fflo to draw down thls re8eN6 88 rrfoht bg r•qr0d vthlbl ensurtng by all rèasonable rnean6 Ihe earliest possible rebulkllng ol r896Th88 In th thi8 pollcy. FUTURE PLANS Tho ch8rity plonB cont1nu1r th aclfvlUo5 outllned abov• In th• lorthcomlng y•aTr subjèct to SOtlsl8Lsry fundlng wr•nllem¢nts. STRUMRE, GOVERNANCE AND MANAGEMENT Gov•rnlTrg do¢um•nt Th• eh4rtty 1$ ntrOllad ty lis gov•mlng docum8nl. a d•ad oftrust, and corr4Utut•s • Irr4tsd company, Ilmltsd by gu8r8rt08. as d¢ffn•d by Iho Corrwnle? Acl 20a6. The organl¥eOon IB & ch8rKat40 ryany IrTtted byguarant8e, Incorporated on 24 N(svgmb•r 2016 gnd reglstarod as 8 charfty on e Aprll 2017. Tho compony wgs ¥818h0d under a M8wKJr8ndum olAS160n that 88tabllshod th8 obleds and powers of tho charilablg company and 58 govorned undor ItB Arb'cles of A8SOC¢8tlon. In the event oltha ¢x)mpany hlng wound up mombor8 aro requ11 to contrtbule an amDunl not exceedlng £1. R•crullm•nt and &ppolnthi•nl of n•wtrnJts•i TruBleeB mby bo appolntsd by th• curr•nt Board ofTruBt•v •rKI Shfjll 8•N•lor a p¢rfod ofthi•o Yrn, whl¢h c40 be extend8d by a fvrthei tsvo tèrms ofthrne y8ar8 eech ty rNtu81 ogmmènt b•thM8•n th• BO• 4nd the Tiustè9. On appolntm•nt 8$ TrLBtee, th• p•tson ¥ho11 bpKom? a corrp8rry m8mbgr ol tha Bhartty. All membern ofth$ boafd ofdlretAots gfvg their voluntarfly glld rvcgfve Thr¢ bgnefits or expenB88 from tha Crtty. The eh8rfty 8cllvety promole8 a l)oard of dlrKows that IrKludps a r8ngo ofsklts, 8xp8rtgnrg gnd kn¢yMgdg& th keeF4'ng Ihe purnu8nce of fjts Oblects. The trathlonal txJsln88s skills a well 18pr959nt8d on tho board of dlr8Ctor& In an •ffortto rnaintaln Ihlg LYo8d 8klll nix, a b08rd $kJlJ8 a15 carrSed out regularty, m05t recenl n 2021 and In the èvgnl of particular s115 being105t due to mtlr•m8ni¥, fjjlurg boarf rerwultm8nt I11 gfve porfty to the replacernent of th8¥8 skills. STRUCTUR& GOVERNANCE AND MANAGEMENT OryanlsatSon•l struGlur• As of 31 March 2024. thè tharity h89 a board of directors ofelght maMbSh0 meBI bl-monlhty and are responsiblè lorthe strataolG dlrection and pollcy ollhe charlty. Thém Is an Audlt and Risk Sub4ommttteé and p NoThlnations and Remuner8Uort8 Sutrpcomittèè. The Board's Quafity Conwnitt80 decK1è5 on oallery, retail and oxhlt4tion 8ppllcations.
Craft Northern Irèlond Roport of thé Tnvat••s Year Entsj 31 March 2024 of the tr4)ard Df director5 are from 8 V8riety of professlonal bBckgtounds 1818vant to the work of th8 arfty. A 5them8 Df delegation is in place day-o-day Tesponsbllity I{hO p1151¢jn of services rests vlth tho stoff tearn. Th9 Director 18 rognSIbl8 for angu that lh8 thaty dever$ the servicgs spedfj•d and th81 perf0mnCe INlieatOT8 aTe met. Inducllon and tralnlng ol n•wtnJst4•s The exlslThJ Tws1¢g¥ are already fan18r the practic ofthe charfty and ar8 oncouraged to attond any eV8nts organlged by th8 thaty. New trustees 11 be Invrted and encouraged lo attend a s&ries of8hort Irainlng S•SSiOTB to f8thharise themse85 the charity and the contextbwthln which tt OP?TatsB. TheB8 will lad by tho Chair of the board ol thfe¢try8 and the Chief Executive of the ch8dty 8ThJ bMII covor.. - The obligallon$ of board of directors, membèrs,. - The main documents that 88t out Ihe Operaonal framBwoik lor th• charty IndudSrwJ tha M•TNgr8ndum and Artlcles;. Resourdng and thè current finandal poOn As Set out In the fatest wbljshed accounts.. Bnd - Futur• pla6 4nd otyectiv6S. R•l•tsd parths In 80 far 4811 Is ¢¢mFllmentsry to tho ¢harfty8 oble¢tB, the thartty 1$ gulded by both local ond nadonal polcy. Th Arts Councll of Northorn ITeland18the lead dev0Pm0nI ag•n loi th• 4rt81Th th)rth8rn Ir•l8nd. Tholr ovwall pl the Arts At tho huart of our Soclal, economlc arid ¢r68Ove Ife,. Thelr 8trnteglc plan'1n8r,Conno¢t. Load 2019 10 2024, Includes- - Cr•atsng B CDnffdent, vibrant. ort2 Inli88tru¢ur•; - Worklng lIh Ivcal oovernm8Tht to 8tr8nulheri local arts - Incr8890 audI#J08 for the arts - Bulld sustaInalty by helF4ng organlsations dlverslfy Incom• Our wc4JMmmo OfaCtlI1•S thoreloio fflB th• ArtB Coundl of North•m Ireland's strAt8ole obl8edv•s gnd therefore thelr fundtrvJ erbrla. The Arts Coundl ol Northorn Ireland appolnts an ot••rv•r who acts 88 Nal8on offlcer ith organlsatioTr$ In recdpt of fin8nd81 a$$tanCe. 11 la a ¢ondiUon of finandal a8tsnce that the obs•rv•r 1$ knvllgd to attond all board meotings Includlng sub.comMtteog. Risk mvJTragem•nt The Board ol Th'TectorB has conducted 8 r•vlewof the rrnior risks to thch the charfty Is exp)ged and a risk rqgisler h08 b88n 851abléBhed that15 r8vlgw8d bl-monthty al each Board moe1tng. Where 8ppropriate. SyBlem¥ or procedures have b8an •8tsblished lo rTlllgat8 tho rfBks the charfty tsceB. Thg oro8rlsRUon ts gulded In 2023-24 ty a one-ye8r budness an, undèrthè 2022-25 th(8• ya8[ Str8t8glc P18n.
Craft Northern Ir•land Report of the Trustèes Y8ar ETrl8d 31 March 2024 statem?ntof Trustees. Responslbilities The truste05. who are ako the dIrecto ofcreft NDrth8m Irelgnd ft)rthe purposo of company Iwrt, resFollBfN& for prBpariTrg tho Trustee5' Rewrt and the finandal stalemants In atrdance bwth appllcA)le ljw and United Kingdorn Accounbng StsThJ8rds IUn118d Kingdom G8norally Acc8pted Accounting Practi¢e}. Company Law r8quires Ihg tru8tee8 to weparg financ¥al staternents foreath Ilnandal ygarwhlch glve 8 truè f[ ¥1ow ofthe st8t• of Affairs ollhe Charity and of the incowiro re8our appr1On of resour$, Indudlng thg Income and eKpendtur&. ofthe Gharitobje company forthal year. In PrepaThJ th89è fln•ndal 3tat8menty th8 Iru81e05 Bre rnqulred to.. - 581oct sultablo accounllng polldes and Ihen appty th8ffl LY)n818tentty,- - ob88Ne methods and prfndpJg6 In th8 Ca8rfY88 SORP; - make judgemènts gnd gslJm8tes that aro r•8Bon8bl• and J8Tht.' - stats vtheltt•r 8ppllcabb UK Accountlng Slandards hav• b¢en lollthved, subJ¢¢l to any matsrlgl d•parturo osed and •xplaIn In the finendal 8tatemont8,' •nd - Ffepgr• th& Ilnan¢141 stalem•nl8 on th8 golng con¢afft b#ls Unt111$ In8pproprf•t¢ lo pr•sum• that th• ¢harfty VIA contlnu8 In opratlon. The truste85 arg r8sponslbl8 for keeplng *I]ute accounung rocords that d18clo reeson88 acKuracy al any bmg th8 finandal poOn oftho charSty a1 enable them to ensure Ihatthe flnanclel statements comply vlth th• Comppnlej A¢a 2008. Théy ere alBO reBponBlble lor 88fogu8rthng the a•ts ofthg ¢h#rfty 8nd 0¢+ for Iqklng re8sonabkn Btepy for th8 wevenllon and deledon of fraud and other Irregul8rf1168. Dlselosur• of InfomtIon to Ind•p•nd•nt Eminer Each of the twslees has conflrmed th&tth8(• 1$ no Inlormgtlon of whlch they are aware wl4ch IB relevantto tho Indapendont •xarnlnaUon. bjt of1th thg Independent examlner18 unawam. Thèy havo furthér conflrmad th8t they h8v8 taken appropii•t8 stepB to Idenllfy such rolevant Inlormallon and to e8lab48hthat the Indopend•nt txamlnerl8 of8u¢h InformaOn. The trusiee5' f8POrtW88 4pprovod by th• Board ofTMt•88 and slgnod on tts hall ty.. Dat•d'.
Craft Northérn Ireland Independent Exanwnerb Rewt Year Ended 31 March 2024 I report lo tha Int085 an my exaTrdnatloft olth6 finandal statements of Craft North8m Ireland {Ihe rth8rity1 for thtt yèar Ondéd 31 Mordl 2024 R•$ponslbllltlRs and bash ol Thport A8 tha trustè88 of fh8 charity land also Its dlradots for thè PUfPOSaS of cowd>gny IBW) you arè responslble forthe prporatkJn Df the Inandal statements In aGconl&nGe knith Ihe rwulroments orth• Companle5 Act 21J061th0 2006 Act). HavlTrJ J8l?fi•J mysejlthal th• finanrA•l $tatsm8nts ofth8 charfty 8ra not r8qulr•J to bo 8ud118d und•r Part 16 otthe 2(]Ofj Art gf)d wre 8llglblTr for eX8nlIOn, I report In respert nf my emanxna0n of the rthprtty'5 ffjnE4Dd¥l statements carf•d out und8T 8•Ctlon 65 1Jfth8 Charfbes Acl (Northem Ir8land) 2008 (the 2W8 Art) . In out my gxamlnation I h8v8 all th8 appthc#t48 dlredlon¥ glven by the Charlty cOmrsSIon under s•ctlon OSl9libl ol the 2¢)J8 A¢t. IntJ¢p•nd•nt•xamlnqfs Ntat•ffl•nt I hBVO COtryJhl•d ry o¥8rrlnBlion. l Gonfirn that no mattern h8v• comg to my 0tt8nllon In connoclon vlth Ihe •x?rdn8tion glvlng ma cause to bgMev• Ih8t In any mal•rlal pect.. on11ng record8 ware nol Sn re5P8Ct of th¢ chArfty gs r8qulrgd by ¥•Gtlon 388 oflhe 20Cfj Act, or th• finanrlel ¥l81oment8 do not accord vlth Iho8e recordy.. OT th& fln8nclal slgt8mentB do not¢omply vllh the accounong requlrementB of oeL¢on 396 of tho 2006 Act ¢lh8r than any requlramenl that the accounts true and f41Tvlew%thrh Is nDt a rnatter comldernd 98 part of an independont examlnstion; or the fin8ndal ststem8nls have Th)t bgèn PTeFqréd In arLord8nca *lth th¢ rnethods 8ry1 prfDrlpleB ofth statement of Recommended Practice for 8Qunnll 8nd rapIng by chBrit48B gppli¢aNe to ch8rtb•8 proparing IhelT accourts In accord&n¢g the Flnandal Reporbng Slandard apF4Ic8bto In the UK and Ropubllc ollraland IFRS 102). 81ncg your chBrlty's gross income 8xc8édad £250,OQO your exaniner rNgt bo a member of o 118ted body. I can confirm that l 8m quallfied to undert8ke tho &InAtion b8CgU8¥ l am a Thg191er•J m8rnt¢r of Charter•d Accountant8 Irend, whlch Is onè ollhe118led b(rflie8. I h8¥? no conc•ms and have corn• a(¥oss nD other In connocilon vlth tho examln8thon to which attenljon should b•drawn In thi8 itswt In ofdorlo •natAe a F¥0r undèrstsndiro olth8 ffnand81 Btatsm?nts lo be r8ath8d. Mlcha•l FaTr•ll For, and on behg11 of, AA8 Group Accountants Llmlt•d 14 Arthur Street Bollast Co. Antrfm BT14GA Dated.. .(If/i %.{.%oz 10
Craft North•m Ireland Company Umlt•d by Guaraftt•• Stat•ment of Flnanclal A¢tlvltl•8 IlncorporatSng an Incom• and •xpanditure accounti Year End•d 31 Mah 2024 Totsl Funds Totsl FuAla 2024 2023 Lknmstrictsd Réstrlct•d Notes lftcomfr and •ndoTrants from.. Don41J5 and legade8 19,847 186,929 186,77e 219,526 Othor Ir4dlng 88,298 88,293 82,247 Tolal In¢t)m• •nd •ndwmi•nts 80,143 168,921 28•72 281,7 Exp•ndknJr• ott: Charftabb AcYvllv8 192.532) {169,538) 1262,0881 1271,239) Totsl Exp•Trdltur• 192J321 1169.0361 1262.008) 1,239) l•t In¢oM• forth• y•4r b•for• tran•l•rs 4,JB9} 10.534 TranJfeTr batren fvnd8 N•t rnov•m•nt In lundi 12,607) 18,996) 10.534 Recondlltlon otfunds. Tot81 bJnd8 brought forwoTd 71.341 6,408 ,749 87,215 Tot•l Fun(fs C•rrfd Forhwrd io- 68,Y82 3,801 70,753 77.'749 Al Incorn• darlv•8 frDm cunlnulng •cUvltlg5. tr•fOr0 na 8t4tsmvnt of recognlBwJ galns or fo#05 IB gfv8n. Thg not•8 on PA9 13 to 19 form p•rt oftheBO finandol •tthm•nt 11
Craft Northem Ireland Company Llmlt•d by Guarnntee Bahnc• Sh•¢t as at 31 March 2024 Not• 2024 2023 Flx•d Ass•ts TalbIe assd8 5.098 7.539 Curr•nt Assets D8btOf3 Cash Dt bank and in hand 10.194 89,$80 19,341 Cwedllors". amoLJnlB fallw du• Dna ye4r 14.119 8,821 NEf CURREKf A88ETS 85,855 70,210 NET A8SETS 70,763 77,749 Repw60nt8d ty.. Unr•stricl•d Fllnd8: GBn•ral Oe•lgn•t•d 57,169 9,783 81.578 9,763 R•strlct•d Fund• 10 3,801 8.408 711,703 77.74 The company IB 8nOtl8d to th8 •x•mpllon from Ihg ¥udlt requlTement contalned In eectlon 477 of th• CompanieB Act 2C4J6, forth? year 31 M•r¢h 2024. Thé dlr¢rtorB acknovA•dJ• thelr re8pongltlThU•6 for ensurino thallhe ch8rlty keops accoufittng f•cordswhlch compty wrth sDctlon 388 of lh8 ActaThJ for pi¥p8ring Inortcl418t8temont8vhlch glv• • tru• and f&r vlew of th8 8t8le ofaff81rs of the company o¥ 81 th• •nd ofth• fina91 yr and of Its InCong rn80urce8 and appllratlgn ol resources, indudln9 Its Incom? and 8xpend51ur8, for the finaD¢lal ygHT In &ccothnce the requ1rerrnts of SèGlfoDs 394 and 395 8nd which otheTh%ls¢ ComY th the re4ulrement8 of the Companio8 Act 2006 r•lalJng to fin8n¢S818talemarts. ¥0 14r a8 appllcabkn to the cornp8ny. Th& mmtors have not rgqulred the coN4Jgny to oblaln 4n audtt of Its ffinend81 statemgnts forth8 yearln quesuon In 478. These finanagl stat•m8nts hav& bggn piepared in occordanca Ihe provlwons aPFAlcat4e to comp8nl09 subled to thè Sm811 companle8 reglme. The finanelal 5tat8ments w8r8 approvad by tho Trustèas on ......................... Kjffl M8nneY (Ch8Ar) Tntst88 Company RègIstr•0ft Numb•r N164234• The nvtos on pages 13- 19 fomi part oftho5? Ilnanrial slatem?nis. 12
Craft Northern Ireland Company Urnited by Guarnnt•• Notes to the FlnAn¢lal Statèrnents as al 31 March 2024 1 ACCOUNTING POUCIEg The prirKipal accountSng poldes 8dorrt6d, Judgwnents and kèy sourtss ofestimatlon uncortalThty In tho preparalon of the Inancial Statorts ar• as loknts.. Bl BS of weparallon T fingncial statewnents hav& b w•pared In aecordance 1th AccountlrwJ tnd Rep)rtlng by Chathies: ststem8nl ol Reconwn8nded Prad1 applica9 to chari168s Werfn thelr acGounts in accrAdance th the Financ181 ReF4Jrtro Standard appIlble in Ihe UK and R8publc ol Ireland IFRS 1021 leffecllve 1 January 2019)- (Charities SORP {FRS I2)}. Ihe Finandal Reporbng Stand8rd applcable in UK and RepuNl¢ of Ireland IFRS 102). Craft Northein Ir•land meelsthe d8finltJon ol• publ1¢ baft ontity und1 FR8 102. b) Proporathon of th• acwunl8 on • golng concern baBis At th8 t(rn¢ of approvSng the financlsl 8t8tgm8nts, the trustees have o reason8blo o¥pedallon thBt th8 charfty h8¥ adequat• Tegource8 to continue in oporation818x19tenc8 for th8 fore88eabl8 fvturo. Thu8 th• trust808 IINe lo ad¢)pt the golTrJ conc¢m baBh of accowtlng In wiparfrYJ the llnanci81 statem•rrt8. ¢) FuTrJ Aceounong Gener81 fund3 8Te unro8trfd8d whlch are avellable for us• 8t th• dlscrouon of IhB Tru819 In fiMther8Trce ofth8 general obleth8s ofthe ¢h4rlty pnd lch hove not been deslgnated lor other purpoB85. G•noral fund$ may be tr8n8fgffod lo de81gn8t luThJs %thor8 Tru5t••s %4sh to usa thè88 funds for a 8perAfic purpos8. Such fund5 be Iron¥l¢rrad tsack lo general funds once the for the deBlgn8Oon h8ve bo¢n met 01 af• no kjnger app&cabl&. Re&tslct•d fijnds fundB whlch 8f• to Èe usèd In aCw1dan wlth spedfic r68trlctlons impc4ed by donors orh%thlch hwg b88n ralBed by tho Chadty for partlcul&r wrwBaS. Th? COBI of rai¥lng and adnlnisterlng such fund& ar• ch8rg8d agaln8t the gpeclfic fund. The alrn and us• of r•styld•d ffiJnd818 g•t Oul In the notes io the finandal 8tsfem9nts. RèstrICt funds rrny only be transleThed to general or deslgnated fijnds once the ¢riterfa lor re8tsicUon have boon di8charg•d or no longer apply. d) Incom• Rètogrfllon P0d89 Iterrn of Incomt 4r8 recOg8d ond Included in th• accounts vth•n all of the fDllovlng crIt•a qT• m•L- The charfty has antiuefflent to th• fundo: any performanco coTrJlllon8 altaLed to th• Itwn ol Income hq8 been met or aro fvlty *lthln the control of the ch8rfy'. th8r8 Is suffldent c•rt8lnty that reeelm of the Income Is GowldeT•d wobabla., and th• amount cBn be m•asurod r8ll•bty. e) Dongted seNico8 gnd ladlllle In aecerdanceKIth thg Chartlles SORP IFRS 102). th• gMoral volunte•rlJm8 of8upporterB 18 not r8cogn5sed. fj Intsrest R•ul¥Abl• Int•iesl on fvndB hekl on dopD5it 13 Induded when weceivable and tho amount rAn be m8osur•J I3t by the chBrtty', thi5 i¥ normglly UPDn nthficalon olthe Int8reEt p4id QT payabl? ty the Bank 13
Crnft Northern Ireland Compny Limit•d by Guarant• Notes to the Finaneial Stalm•nts Yèar Endèd 31 fvlarch 2024 1 ACCOUNIING POLICIES (conn¥•d} g) Expenditurg and irrecoverabla VAT Exppndiiur& is recognr6ed ofic8 ther8 18 a1•3al or ron5truthTe obhgaJon tD meke 8 wymjnl to a thlrd poty, 11 Is probable thatsettlem¢nl will bg r8quir•d 8nd th? amount of the obll9adon cBn rmasured rdlotyly. Ex[litu[8l5 cla5fi•d uThJor thg Idlol[j he•JlngB'. EKpendltur8 on charitable acUvllle8 includes the coBts of supporttng refuge8 farnllle5 and adv608S nd8rt8ken to fijrther the purpo$gs gf th? Chgrfty and Ihfjr 4saodotgd support costs Other •xndItuTg repreBents thos• Itsn not fgWrrf4 Into gny othèr haodlng Irrecovorabl8 VAT18 charged as a cost 8galn8t th8 forthkth tha 8xndur8 vms Inrred. h) Alloc•tioTr ofwJFVtJrt Support &t$ 8r8 those funcoons that 85sbt the work ofth8 GhBrity but do not dirgdy undartak• arltalAe acYNtties. Support C08ts incIe back offlc• cosls. financo. pèrsonn81, p8yroll and govem8nc& ¢osts whlch Support th8 chartys progT8mm&s and acUvliieB. TheBe coslB have baon 8llocated betW86n cost of Mlelng hIrS End exp8ndftur¥ on ¢harttabkn aciivibej. 11 C48h al bank And In h8nd Ca¥li al b¥nk {1 Iii IIAiid Iii¥lyd¥ ¥ali ¥lwil I111Y Ilquld Sliv¥ii1I16'thIh 8 811ort matur(ty of thrne munlhB Dr le58 frorn tho dot• of JrWviifDn or openlnu thg depAI or slmllar arUnt T•nolblg Flxod ABNets Indlvldu81 ffx8d assets are capSta1158d #t Jre depredaled over Ihe5r 8811mated VBefiJl economlc nv85 on & 8tralghl Vn8 bAsls 88 follo.. Ass•t Cal4gory'. Allnu81.R•t• FlxtUrn8, IItUngi pnd equlpynont Cornputer Equlpmont 10% sht Llne 33% Slralght Un• Thg carrylno v&lu09 oft8Molbl8 flxed a88818 ar• rwl•wJ lor Impelrrmnt when events or cIrcuinC89 IndSc8te ffte value may.not be To¢ov•rabl•. kl D•tlor5 TrBde and oth8r d8bto(¥ ail recognbs8d at thv settlement amount due after any trade dlBcoiint off•red. Prep8ymBnts arg valued at th• gmotint pr8p8ld altertal a¢count of any tr•d• d19count d. 11 Ciedltors and ProviOn Creditors And prw8lons ar• r8cogniBed where the charfty h88 g pros•nt obllg8tion r•sulUrvJ from • pg8t ovent that wlll probably r95uA the transfar offunds to 4 Ihlftl paty and the amDUnt due to 8ettle the obllgailon can be m8osur8d or esltmaled rol&bly. Cr8dltor8 and wovleionB are normBIty r?cooniTgd at thelr 8eWemenl amount after allo1ng for any trade dE8cUllts due. m) Pon81oT company operatss a defined ¢¢nlrlbution pslon schem8. Contrfbution8 are charu8d In thè statèment of Inanclol activities asth cOMe payable In accordance ¥th the rules of the 8ch&mo. 14
Craft Northern Ireland Company Lirnited by Guarantee Notes t¢ th• FlnanGi41 Stat•m•nts Year Endéd 31 March 2024 1 ACCOUWINftJ P.OLicie8 Icontlnv•d) rb) Taxalson The company is a roglstèr8d charfty and thg ¢haill8bl¢ tsx ¢xemplo ar8 Iharèloro belng daimed to the èxtent thatSrthrn8 andloi gains are aF¢)licable and apF4'ed to charitabl8 pUfFh85 only. These •x•mMlorffj 11 rgm8in in placo as loTrg • Incom8 arKt 8XF•ndltui8 Is applled to charitabl? pJrpos•8 onty. o) Flnanclal Instwn6nts The Charity has eltscttrl to appty the provislon5 of S8dion 11 'Baslc Flnand81 InstrLtm8nts' gnd Sathon 12 Other F6nancial Instwm8nls18Bugs' of FRS 102 to Bll of ils llrffjndal Instrurnent6. Finandal instrurrnnts are rocogn158d In Ihe Chartty's b8lanc• 8ho•t wth8n thè Charfty b•oome$ pqty ¢0 th• contraLXu81 prO¥lOnI ollho In6trurnont. Flnand818ggels and latlllles are offsot. thg not gmounts arn prK8ntod In tho flngncig181atements, when Ihere is 818981ty en(orGtsablg rlghl ID 581 off thg r8oJgni58d umDUnts and thor? is an intEnlion lo 8etd8 on a nat ba#18 tsf to reall¥e the aBset aThl uttl? th• U•blllty 8lrNttanaouety. 8aslc finpndal assets BBBIC fln8nd819858ts Irthplly meaBured attransacuon pilc8 Indudlng tran88don cc8ts end are sutsequentty eathod gt 4morb8ed cost using lh8 eff8cdve Infvr8s1 molhod unl888 thg 8Th4ng•m•nt con8O1utO8 a finandng transoctlon, whoro the tran3aclJon16 meaourqd at the preBent value ol the fvtura rec8ipi¥ d[81)led 8t * iiNit¥k of IiileiwL F1118nLI81 a6wts cl88slfiod w I'C¥ble wlihlii ono year orè not amDrtl8ed. Ba3lc fin8ncl81 Il8b)liti88 BB?Ic ftn8nd81 IlJblnl1¢& are Inlllglty r•eoghl$gd at Iran&aclon prico unless the aThaThJemenl conBWlute a fln8nclnB transactton, where th• debt Instruments Is me8gur8d at Iho presentvAlue of th fvtufe paynwnt8 discDunled Dt a markat rsts olinl•ioBL Finandal labllvos cl8Bslfied a8 yble lthln one yeEr.8r• nol amorti6ed. Debt Instrurn&nts aro whequenlty cafd8d at 8n¥Jrtl8ed ¢t, UBlng the •ffeclfve irrterest rats mothLXJ. Tr&Je credltors 4re oblgalions to pay for goods or sewlces that have been acqulr•d In th8 ordln8ry COUrn( of op8rallons fvom suppllg18. Amounts payabje are dos91fied es Cufrenl Ilabiliilas11 paymant Is due thln year or less. If no( thay ar8 pres8ntsd a8 non ewrent liabilM•s. Trade credlt018 are rewnfrBed lnlll8lly 81 trans•don prfce and 8ubs•qu•ntty meosurad at amortlsed cost uslng the ofleedv• int•mBt Dgr•cognldon of financtal118bHNla8 Flnond81 I•188 8r8 doi•eognlsed wh•n thw Charityb ¢onlr8dual obllg8llons exF4r• or aro dls¢h8rg or Lnc8lle(l. pl Crlllc818co)unttng esllmales Judgem8ni8 In the appth¢8llon orthe Charity 8¢Gounting policle8, the Tru8tew ar8 roqulrad to m8k•Judgam8nts. gsllmates nd 865UrnPtlons about th8 carrying amount of as8ets aTwJ liatMIMes that are not r&4(1ty 8pparontfrorn other 50UtC85. The eEtimatBS and ayeocialed assumptions ale b858d urr histoiical 8lenc0 and other factors thAI aro ¢on51dgr•J to Tg1gVPrt. A¢tual fgBults rnay differ frorn these mat85. Thg esOmateS 8nd undeitylng a8sumptions alè r8vl8W8d on an ongoiro baBiS. Re¥islons lo gccountlng osllmat85 are rgcogr458d in th• perfod In which Ihe eBllmate Is rgvlsgd wherè Ihg rev10 affgcts onty that perfod. orin the period of the revluion 8ThJ fure perl¢>as ere the rovlulon affects both cwrent and hJtur¢ pgri(hYg. 15
Craft North•rn Iretand Company L5mlted by Guarante• Notes to the Flnancial Statsm•nts Year Ended 31 M8rch 2024 Incom•from donatlons and legacios Total Funds Total FuThJ8 2024 2023 UnMstrfGt•d R•strlct•d ACNI Annual Fundlng Programmè ACM H&S Equip 20Wk3 Design & Cr8ts' Council of Irebnd Bvlfasl Clty Council Ulstsr University- Athffjrk Employabllty The Brknsh Coundl Art Work- Fundar FutUTe Scroan Nl GArden Show IrelEnd 145,5051 145,509 143.404 6,255 18,000 18,CQO 18.000 21,919 3,SOO 21,420 21,420 1.847 1.847 Th8 2023 tot81 of £219,528 VA8 8plll £44.448 uTrr¢8th¢tod ond £175,078 ro8thcted. 3 In¢om• from Tradlnu A¢tlvlths Totsl Fund Totd Fund$ 2024 2023 Unr•strl¢t•d Re•trl¢ted Gall8ry Sal Oih•f InGDrnP 62,ne 5,580 02,731 5,560 82247 Th& 2023 totsl of£62,247 w•J 811 unTeStrict•d. 4 RsultJ lor th• yt•r Th& for tha year ha8 •n •rMved at aft ¢hgrdftg the follrwlrvJ'. 2024 2V23 Oepredadon 2,441 5 Exp•ndrtuwe on eharltabl• a¢tlvity Totyl Funds Total Fund• 2024 2023 Unrnstrict*d' R05trictod OfjFect Ch8rftable S¢Jpport Costs Govem8nc8 Costs 89.214 1,719 1,599 166,608 2,930 255.820 4649 1,599 3,478 5,217 16
Crnft Nortffl Ir•land Company Llrnited by Guaranteo Notes to the Finan¢Sal Statm•nts l¢ont) Y8ar Ended 31 March 2024 Ahatysis ot Staff costs: 2024 2023 Salades and Woges Soci81 security c08ts •f P•nslon Costs 159,282 8,746 7.857 1Y6,886 147,990 9,558 7,104 164,852 Th8 av•rng¢ monthty number ol •mployeey 812023.. 81 and th$ 8v•rage rnonthly numb•i of pk)yfj•E durlnu th• ¢xpf¢BGpd e¥ full lJ(n8 •qulv•l•nts wa$ 8$ follo¥ (Including cBsu81 and Part dmp stam.. 2024 Numb•r 2023 Numbor Ch8rflabl• aGUvld86 No employe8 h81 ernolum•ntB In ¢xces8 of£80,0. 12023.. 01 Thg ¢harfty Tru8tses w8r8 not p4ld nor dld Ihoy ro8 any other bon•fits Irom omploym8ntlth the charfty In th8 y8ar12023.. £nil) neith•rwore th8y relmbur84d 8Kpèn898 durfng the year (2023.. £nlV. No char(ty TfU$te? recelved paymont for kYofg861on81 or olher eeNIcg0 8uppll8d to the charfty (207J.' 7 Tanglbl• Flx•d Ass•ts Flxturn•. Illng$ and Comput•r •qulprn•nt equlpmènt Totsl Cost A8 Ot 1 Aprfl 2023 Idons s at31 Marth 2024 4337 6,620 9,1187 Doprodallm.. As At 1 April 223 Charge lor th• yéar A* •t 3t Marth 2f24 334 3,1T1 2,107 2,441 4,759 Nat 8ook Valuo 4 0131 Marth 2024 1.166 3,932 6,098 AS at 31 Ilaffh 2023 1,500 8,039 7,539 8 D•btor 20Z4 2023 Trade 0obtDfs A¢cruog IncomB Prep8ym8n15 160 9,27S 7fj9 7.000 11.870 671 19. 17
Craft Northern Ireland Company Limlted by Guarante8 Not•s to the Financial SLthm8nts {cont) Year Ended 31 March 2024 g Cr•dltOfg: amounts lallln9 du• wlthln one year 2024 2023 Trade Credttors Other Taxes and Soclal Security Costs AcoiJ8ls ACNI Grant to ba Refunded Rounding 8.239 3,050 1,830 1,000 2,583 3,428 1,830 1,000 10 Anaty•ls of Mowmentl In Fundj Op•nlng Bolanc• Asat31 Exp•ndltur• March 2024 Income Unr••trlcl•d fund• Genaral fvnd$- all fund$ Deswn•l•d Fund$ 81,578 9,703 71,341 88,143 (92,532) 37,189 9,763 86,952 88,143 192,5321 Rojtrfed lund• Restrfcted fund8- all fundj 6.408 186,929 (169,530) 3.801 Tol•l The deslgnated lund retste# to th8 Gulld Bursary rec•iv•d from the fDrnwr Nl Guild of Dgslgnor Craftsmen lo be us•d for tho 4dvanc•m•nt of the uaft sector In Northem Ireland. 11 Analpis of Mov•m•nts In R•itrf¢t•d FundB Openlng 8•l*ne• As•t31 exp•ndllurn March 2024 In¢om• ACNI Annual Fundlng Programm• ACNI H&S Equlpment Grant Art Wotk Funderfuture Nl 500 5.908 146,509 (146,0091 { 2.10n (21,420) 3,801 21,420 6N08 186,929 01 18
Craft Northam Ireland Company Llmlted by Guaranté8 Not8s to the Financial Statements (cont) Year Endad 31 Mareh 2024 12 Analysis of net a¥s•ts b•lw•en funds UnrnAtslet•d R•8trict•d funds fvnd8 2024 2024 Total funds 2024 Total funds 2023 Tangible fixed assets Current assels Credltors dmouiils fdling du• 4Mlhin one year 1,298 79,774 (14,119) 3,801 5,099 79.774 (14,.1191 7,539 79.031 (8,821) 86,953 3.801 77.749 19
The following pages do not form part of the financlal statements whlch are the subject of the independent examlnorfs report on pag• 12
Craft Northern Ireland Company Limited by Guarantee Notss to the Flnanclal Slatements (cont) Year Ended 31 March 2024 Analysis of expendlture on charltsble actlvltles: Total Funds Total Funds 2024 2023 Unrestricted Restrlctsd Wage8 Pension8 Gallery Suppli66 Rent and Rale8 Insurance Llghl and Heat Telephone Postage and stallonary Publicity and marketing Mlscellaneous expenses Maintenance and securlty Exhibition costs Christmas Campaign Sub5criplions Maker d8velopment Legal and professlonal Travel and 8ubsi$tsnce Stsff trainlng Other Prograrnmlng August Cr8ft Month Launchpad Room Hlre Depreciatson of tangible fixed a888ts Support cos18 Governan¢e ¢osts 50,423 7,857 2,326 6,609 1.918 43 1.269 756 3,578 117,605 168,028 7,857 2,326 41,168. 1,918 2,043 1.269 756 6,630 157,548 7,104 3,882 38.712 1.732 3.896 1,251 629 4,623 1.005 2,360 3.989 4,258 1,565 3,013 980 4383.27 1,219 345 20,121 200 34.559 2.000 3,054 4,536 998 4,536 1,998 1,000 2,793 1.923 2,203 217 1,334 2,793 3,923 2,203 2,153 1,334 2,000 1.936 2,345 2,345 100 334 1,719 1,599 100 2,441 4.649 1,599 2,107 2,930 881 5,217 2,546 The 2023 total of £271,239 was 8plit £102.569 unr88trfcted and £168,870 r8Stricled. Analy8ls of gov•rnance and 8UPPOrt CO8t• Total Fund8 Total Funds 2024 2023 Unro8trf¢t•d Rostrlctad Bank and c8rd transaction charges Accountancy fees 1,719 1,599 2,930 4,649 1,599 5,217 2,546 3,318 30 48 The 2023 total of £7,763 was splll £4,833 unrastricted and £2,930 restricted. 20