Company number.. 2876147
Charlty number.. 1034750
Open College Network
London Region
Report and financial statements
For the year ended 31 July 2024
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Open College New￿11( London Region (OCNLR)
Contents
For the year ended 31 July 2024
Reference and administrative information
Trustees, annual report
Independent auditor's report
Statement of financial activities (incorporating an income and expenditure account)
Balance sheet
Statement of cash flows
Notes to the financial starernents
20
22
23

Open College Ne￿￿[k LcxNlon Reglon I￿￿LP)
Reference and admlnlstratlve Inforniatlon
For the year ended 31 July 2024
Company number
Charity number
Reglstered offlce and operatlonal addre55
Country of reglstratlon
Country of Incorporatlon
2876147
1034750
24 Angel Gate, City Road, London, ECI V 2PT
England
Unlted Kingdom
The company trades under the name OCN London.
Trustees
Trustees. who are also directors under company law, who serrfed during the
year and up to the date of thls report were as follows..
P. Pledger
L. Arnold-courtney
Chair {reslgned 13 June 2024)
Interim Chair (13 June to 26 September
2024)
J. Farmer
N. Garner
P. Chuman
K. Hintz
K. Holt
A. May
A-M. Soyinka
J. Stockdale
C. Tennant
Chair (Appointed 26 September 2024)
(appointed 13 February 2024>
(appointed 13 February 2024)
(appointed 13 February 2024)
Key management
Personnel
Carlos Cubil lo- Barsi
Paul Brownlng
Dixa Patel
Chief Executive
Deputy Chief Executlve
Company Secretary
Banker5
National Westminster Bank PIC
166 Carnden High Street. London, NWI ONW
Sollcltors
Grays Sol icitors
Duncombe Place. York. YOI 7DY
Audltors
Sayer Vincent LLP
Chartered Accountants and Statutory Audiror
I l O Golden Lane. London. ECIY OTG

Open College Netv&)￿ London Reglon (O(J4LR)
Trustees, annual report
For the year ended 31 Juty 2024
The trustees present their report and the audited financial statements for the year ended 31
July 2024.
Reference and administrative information set out on page 3 forms part of this report. The
financial statements comply with current statutory requirements, the Articles of Assoclation,
and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP
appllcable to charities preparing their accounts in accordance wlth FRS 102.
Purposes and alms
The charlty Is a company limited by guarantee and is constltuted under an Articles of
Association. The Memorandum and Articles of A550ciation were revised, and a new
combined Articles of Association was adopted by special resolution on 20 March 2023. Its
registered charity number is 1034750 and its registered company number is 2876147. The
charity trades under the name OCN London.
Open College Network London Reglon (OCNLRI is an awarding organisation IAOI approved
by the Office of Qualifications and Examinations Regulation IOFQUAL) to offer national
qualiflcations. As an Access Valldating Agency IAVA). OCNLR is licensed by the Quallty
Assurance Agency for Higher Education (QAA) to validate and award certificates on QAA-
recognlsed Access to Higher Education Diplomas. The Board of Trusteesls ultimately
responsible for the operation of both licenses.
None of the trustees recelve remuneration or other benefit from thelr work with the charity.
Objectlves and activities
OCNLR exists to support learnlng and widen participation through achievement of credlt-
based qualifications. regulated and unregulated. OCNLR aims are the advancement of the
education of ihe public in one or more of the following ways-.
By promoting and increasing participation in education and training. partlcularly by
those persons who have beneflted least from existing provision.
By being an open and inclusive organisation, where diversity is promoied, and
discrlmination eliminated. Our commitment is to contlnue to ensure that our services
meet the needs of all our diverse customers. It ensures that equality. diversity, and
human rights are integraied Into the way we plan, develop. and deliver our services,
covering our internal functions as an employer and our external operations as a
provider of qualifications and accred itation services.
y improving the quality and flexibility of education provision for the public benefit.
primarily for educationally disadvantaged persons.

Open College Nets￿rt( Lorthn Reglon {c￿LR}
Trustees, annual report
For the year ended 31 July 2024
y facilitatin9 progression for learners by enabling them to achieve Open College
NeMork IOCN) credits and to accumulate and, where appropriate, to transfer these
toward 5 a qualification.
By improving access to higher education by carrying on and conducting the work of
the accreditation system in London and elsewhere and conducting the work of Open
College Network London Region as an AVA under license from the Quality Assurance
Agency for Higher Education (QAA).
y improving recog nition of education quallfication5 by Issuing nationally recogn ised
Access to HE Diplomas and credits for learner achievement to be awarded
independently of the providing organisations.
Publlc beneflt
In settin9 its objectives for the year, the Board of Trustees has regard to both the Charity
Commission's general guidance on public benefit and the mission of OCNLR that supports
education for learners w.ho have benefitted least from existing provision and can be
encoura9ed to prog ress to achieve their potential. The activities cu rrenily carried out for the
pu blic benefit by the c harity can be broadly categorised into the followln,g areas:
Development of products and servlces for organisatlons to use for educatlonal,
training and assessment purposes.
Registration and certification of learners.
Support for customers to confirm centre approval and the offer of coherent
curriculum provision with quality assured confirmation of the achievement of credit.
Retention of licenses to ensure continuity of the operarion on behalf of customer
organisaiions.
The majority of centres are not-for-profit organisatlons, deliverlng education and tralnlng
for adults. Many of them target the educatlonally disadvantaged, which Is critical to.
supporting OCNLR to achieve its alms. A slgnificant number of centres, namely (hose in the
trad itional further and adu It educatlon sectors. are eligible to access pu blic funding via the
Education and Skills Funding Agency (ESFA), the Greater London Authoriry (GLA) and other
Mayoral Combined Authorltles (MCAs> for their delivery of our qualifications.
The outcomes of these actlvltles for 202 3-24 are Identified in the following sections.
The trustees review the aims. objec.tive5. and activitie5 of the charity each year. This report
looks at what the charity has achieved and the outcomes of its work in (he reporting period.
The trustees repori the Success of each key activity and the benefits the charity has brought
to those groups of people that it is set up to help. The review also helps the trustees ensure
the charity's aims. objectives and activities remain focused on its stated purposes.
The trustees have referred to the guidance contained in the Charity Commission's general

Open College Nets￿￿{ London Reglon (OCNLR)
Trustees. annual report
For the year ended 31 July 2024
guidance on public benefit when reviewing the charity's aims and objectives and in planning
its future activities. In particular. the trustees consider how planned activities will contribute
to the alms and objectives that have been set.
Achlevements and performance
The charity's main activities and who it trles to help are descri bed below. Al I Its charitable
activities focus on education and are undertaken to further OCNLR'S charitable purposes for
Ihe public benefit.
OCNLR acts to accredit courses and develop regulated qualificatlons in partnership with its
centres, register learners on those courses and q ualifications. confirm the learners,
achievement of credits and qualifications through an external quality assurance process and
then to certificate those achievements. I n many cases these certlficates are the flrst tangible
evidence of learning and achievement those learners will have received.
OCNLR is not directly involved with the delivery of learni ng,. it acts to formally recogn ise a
centre's fitness to provide quality assured learning programmes that may consist of its
qualificatlons (regulated) or accred ited cou rses (unreg ulated). I n each case OCN LR is
concerned with confirming that the offer is appropriate and coherent at the curriculum
planning stage and then is quality assured to ensure comparablllty of standards and io
safeguard the learner experience.
In 202 3-24 learner registrations on our national regu lated qualifications were in line with
and in. some cases, ahead of projections. However, registrations onto Access to HE courses
reduced by 210 compared to 2022-23: again, reflecting the increased number of students
undertaking foundation years at universltie5 and other qualification options, as well as the
mpact of the cost-of-living crisis. Thi5 reduction in registrations was offset, in part,
through the introduction of a new seNice offering Digital Bad9es to confirm learning on
othe￿￿1$e unaccredited provislon.
The maximum number of organisations registered with OCNLR throughout the reportlng
period was 356. There were 53 new centres approved in 2023-24, including large further
education colleges, and a small number of resignations over the year.
Our most popular qualification was the Level l Award in Preveni Duty Awareness. while
demand for Essential Dig ital Skills Qualiflcations remained strong. There were also healthy
registrations on the Level l Award in Health and Safety in the Construction Environment.

Open College London Region (OCNLR)
Trustees. annual report
For the year ended 31 July 2024
Achievements against 2023-24 strategic priorities
Recruited three new Trustees io the Board covering areas such as.. repre5entatlon
from London borough and GLA stakeholders and expertise in higher education.
Worked with centres to support them in responding to the QAA changes to the
Access to Higher Educarion Diploma specification and Grade Scheme.
In response to priorities identif led by the Greater London and Greater Manchester
Local Skills Improvement Plans, development of a range of modular learning
opportunities focused in the sectors of health & social care, construction,
greenlsustainability and digital.
Awarded the City of London Silver Awatd at the London Chamber of Commerce and
Industry (LCCI) SME London Business Awards 2024.
Cained Ofqual approval to provide apprenticeship end polnt assessment services to
the creative theatre sector.
Member of the City of London Corporation Taskforce supporting women into digital
careers and sponsored the LCCI'S Women into Business programme.
Worked with the Di9ltal Policy Alllance IDPA) and other digltal sector slake holders to
inform di9ltal skills policy development in conjunction with relevant All Party
Parliamentary Groups (APPGS).
Engaged wlth trade associations wlthln the greenlsustainabil Ity sector, worklng on
commlssions to produce resources. credenrlals and qualifications to support the
development of skills and knowledge relating to carbon neutral energy production
and effective eco-friendly working practices,
Launched new microcredentials product to support lifelong learnlng and recognise
the importance placed on skills development within the workplace and communities,
alongside the acqu isirion of formal qualifications.
Developed and launched new on-line Access to Higher Educatlon Diplomas in
Nursing and Business Studies.
Began a two year pilot with the Army and partner centres to dellver an on-line
Access to HE Diploma (Business Studie5) to an initial cohort of 40 learners from the
junior NCO Academy.
Awarded bursaries to two Access to HE Diploma learners for outstanding acadernic
achievement and a further two for outstanding commitment to study.
Maintalned an excellent level of service to our customers throughout the year
through remote and in-person operation.
Retained Cyber Essentials Plus accreditation demonstrating that OCNLR has
enhanced levels of cybersecurity protection.

Open College New￿rk London Region {OCNLR)
Trustees, annual report
For the year ended 31 July 2024
Beneficiarles of our services
Learner reglstratlon and certlflcatlon
In 2023-24 OCNLR received 39,580 learner reglstrations, representing an increase of 6% on
the previous year. Learner demographics were as follows: 55% female., 40% of a Black and
Minority Ethnic background., 47% 16-18 year olds., and 45% of learners resident In the top
2 5% of socioeconornically deprived wards.
There were 2,01 O learners registered on Access to HE courses In 2023-24 of which 1 .440
achieved the full Dlploma (72%). Results were submitted to UCAS by thejuly deadline for all
learners. except for those who had appealed. The learners who had achieved the Access io
HE Diplomas recelved thelr resul¢s and were able to confirm thelr acceptance of hlgher
education places in a timely fashion.
Sponsorshlp
As part of its continuous commitment to adult learners. OCNLR sponsored the Kelth Fletcher
Access to HE Learner Awards and Michael Sargent Access to HE Bursary Awards were
awarded to four Acce55 to HE Diploma learners in recognition of their outstanding academic
achievement and outstanding commitment to study. All four learners had overcome the
particularly challenging clf cumstances and barriers to learning In order to achieve their
Access to HE Diplomas.
Flnancial review
In 2022123 period, the Board of Trustees approved a change in the financial reporting
period, shiftlng it from October-september to August-july, effective as of l August 2023.
Consequently. the financial statements included in this report reflect a preceding l O-month
period, from l October 2022 to 31 July 2023.
OCNLR In 2023124 reported a £2.036 surplus on a turnover of £1.9m.
The key sources of Income continue to be registration and certification of learners on
qualifications developed by the charity, accredited courses and annual fees charged to the
approved centres for delivering the qualif ications. The income from quallflcations Increased
by 17% on the 2022-23 outturn and exceeded budget. The increase indicates ongoing
growth in Ofqual regulated qual if ications, with considerable numbers of registrations on
small health and wellbeing qualif ication5 and continu ing interest in Essential Digital Skills
Qualifications, all of which are intended to meet the needs of learners who require a
foundation of learning before they are ready to progress to higher levels of learning and into
better employrnent.

Open College NeMx>rk London Reglon IOCNLR)
Trustees. annual report
For the year ended 31 July 2024
Trustees continued to monitor income carefully and received information on major trends
on a quarterly basis. OCNLR has good financial management with tight control of cash and
debtors.
Principal risk and uncertainties
The Board of Trustees takes responsibility for rnanagin9 risk. They assess the major risks to
which the charity is ex posed, in particular those related to the operations and finances. and
are satisfied that appropriate systems and procedures are in place to mitigate those risks.
The Department of Education's qualificatlon reform programme continues to represent one
of the highest risk factors faced by OCNLR, particularly at Level 2 and below which
represents 79% of OCNLR'S regulated offer. The Board and Trustees and OCNLR'S executive
team routinely monitor the situatlon and continue to work closely with representatives and
government bodies to ensure that the impact of any potential risks or issues is kept to a
minimum.
In addition, the potential for a significant reduction in learner registrations in the context of
continuin9 Cost of living pressures remains a significant risk. This applies particularly in
relatlon to Access to HE Diplomas and other larger qualificatlons where commitment to an
extended period of study is not sustainable for some potential learners. OCNLR officers
monitor changes in re9iStration patterns on a monthly basis and account managers are in
regular contact with centres so that queries and concerns can be addressed promptly. There
Is also ongoing marketing activity to promote our qualification offer and initiatives in
progress to diversify our product range and offer broader choice to potential learners.
Reserves pollcy and golng concern
The Board of Trustees has considered the requirement for the Charity to maintain an
appropriate level of free reserves. They feel it is prudent to adopt a risk-based approach
when considering the minimum level of reserves to retain.
The Trustees have considered the level of free reserves required to cover the following risks.,
Robustness of current income streams
Failure to achieve agreed delivery or performance targets
Lack of compliance wlth regulatory requirements
Free reserves are deemed to be those not invested into Fixed Assets. Our baseline is to keep
this at a mlnlmum of £500k.

Open College Nemvrk London Reglon (OCNLR)
Trustees, annual report
For the year ended 31 July 2024
The money held by OCNLR in reserves is invested prudently with UK high street banks.
Remuneration policy
OCNLR is committed to ensuring a proper balance between (i) paying our staff and others
who work for us falrly so that we attract and retain the best people for the job and lil)
careful management of our charity funds, In so doing we ensure the greatest effectiveness
in delivering ou r charitable objectives and meetlng the needs of our beneficiaries. Salaries
for all posts comprise a band made up of a serles of evenly distributed salary points. All
staff are entitled to receive a contribution towards either the Teachers. Pension or the Local
Government Pension Scheme. They also receive a Small contribution to a personal learning
course of their cholce.
In June each year, the trustees determine whether the salary polnts for all staff should be
adjusted for the forthcoming financial year beginning I st August. to reflect changes in the
cost of Ilvlng.
The trustees, considerations begln wlth an assumption that salaries should be adjusted to
match inflation (specifically the Consumer Price Index) over the preceding 12 months. They
then determine whether this is appropriate in the context of..
the charity's financial situation;
the charlty's performance:
cost of living adjustments made in recent years,.
pay reviews elsewhere in the sector.
(iv)
Cost of Ilving adjusrments are applied equally to all staff.
For OCNLR to run successfully, a wide ran9e of ski115 are required, and it Is important to pay
staff appropriately to ensu re that we can recruit people with the rig ht ski115. Retention of
staff is also important so as.to benefit from their accumulated knowledge and skills in what
is a niche sector. This is in preference to the disruption and expense of recruitment,
especially as many staff have detailed knowledge that is unlque to them in the organlsation
and could not be quickly replaced. OCNLR staff pay scales are set with this in mind.
Fundraislng
OCNLR does not engage in public fundraising and does not use professional fundraisers or
commercial participators. OCNLR nevertheless observes and complles with the relevant
fundraising re9ulations and codes. During the year there was no non-compliance with
these regulations and codes and OCNLR received no complaints relating to its fundraising
practice.

Open ￿llege Network London Region (OCNLR)
Trustees, annual report
For the year ended 31 July 2024
Plans for the future
The flnancial outlook for OCNLR In 2024-25 is positive. The work Invested In qualification
and materials development and promotion this year has led to addltlonal courses in place
for 2024- 25 and new centres have joined in order to deliver qualifications and credentials,
including several large FE colleges and employer5. The impact of the DfE's rolling
programme of removing funding from qualifications with low or no re9lStrations has been
mitigated by the sustained promotion of qualifications and credentials to support the
development of skills required by employers identified through LSIPS.
The Board of Trustees and OCNLR'S executive team continue io provide support. challenge
and assurance in the delivery of the 2022-25 strategic plan, The five siraiegic aims of the
existing plan are to:
Significantly improve employer involvement through innovaiion and collaboralion,.
Proactively seek opportunities for growth and diverslfy sources of income:
Provlde the highest levels of customer experlence;
Develop h igh leve I vocational qualifications and ladders of progression.,
Improve organisational resilience and productivity.
Progress towards achievlng the strategic aims and objectives has been positive. A new sub-
committee of the Board, the Strategic Development and Engagement Committee ISDEC), has
been established with responsi bility for advises the Chief Executive and reports to the Board
of Trustees on all matters relating to OCN London's strategic, external facing activities, the
effectiveness of the customer journey- and the impact that OCN London has on the
communiiies it serves.
Structure, governance and management
Three new Trustees joined the Board In February 2024. addlng further expertise in key areas
relevant to our work. In June the Chair of the Board stepped down from this role, and
following a short interim period a new Chair was appointed by Trustees from among their
number.
OCNLR has a Finance and General Purposes committee (F&GP) with a remit to advise the CEO
and report to the Board of Trustees on all matters relating to financial policy and the
flnancial arrangements. pollcies and arrangements for general resourcing, and on all
matters relating to the staffing resources of OCNLR.

Open College Nets￿￿( London Region {OCNLR)
Trustees, annual report
For the year ended 31 July 2024
OCNLR employs a full-time CEO. who is responsible for the day-to-day management of the
organisation. Staffing matters are delegated to the CEO subject to the guidance of the Board
of Trustees. The Board of Trustees delegates some responsiblllties to the Quality and
Standards Committee and the F&GP but retains overall responsibility for all strateg ic issues
and regulatory licenses. The Chalr of the Board is responsible for monitoring and reviewing
the performance of the Chief Executive.
The organisation is a charitable company limited by guarantee, incorporated on 19
November 1993 and registered as a charity on l O March 1994.
The company was esiabllshed under a Memorandum of Assoclatlon which established the
objects and powers of the charitable company and is governed under its Articles of
Association.
All tru 5tees g ive thelr tlme voluntarily and receive no benefits f rom the charity. Any
expenses reclaimed from rhe charity are set out in the notes to accounts.
Related parties and relationships with other organisations
OCNLR continues to work in an informal partnership with Laser Learning Awards in line with
our shared mission. values and alms. The objectlve of the collaboration is to extend the
range of qualifications available to its beneficiaries. share new developments that will
benefit beneficiaries and share good practice in assessrnent and quallty assurance to
enhance the learning experience for beneficiaries. The CEO and oiher officers also have
positive relatlonships wlth their counterparts at other awardin9 organisations who share a
common heritage and value5 With OCNLR.
Funds held as custodian trustee on behalf of others
OCNLR does not hold funds as a custodian nor acted as a custodian trustee.
Statement of responsibilities of the trustees
The trustees (who are also directors of OCNLR for ihe purposes of company law) are
responsible for preparing the trustees, annual report and the financial statements in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom
Generally Accepted Accounting Practice).

Open College Lon(k)n Reglon (CthLR)
Trustees. annual report
For the year ended 31 July 2024
Company law requires the trustees to prepare financial statements for each financial year
which give a true and fair view of the state of affairs of the charitable company and of the
incoming resources and application of resources, including the income and expenditure. of
the charitable company for that period. In preparing these financial statements, the trustees
are required to..
Select sultable accountlng policles and then apply rhem consistently:
Observe the methods and principles in the Charities SORP:
Make judgement5 and estimares that are reasonable and prudenr.,
State whether applicable UK Accountin9 Siandards and statements of recommended
practlce have been followed, subject to any material departures disclosed and
explalned in the financlal statements,.
Prepare the financial statements on the going concern basis unless It is Inappropriate
to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with
reasonable accuracy at any time the financial position of the charitable company and enable
them to ensure that the financial statements comply wlth the Companles Act 2006. They are
also responsible for safeguarding the assets of the charitable company and hence for taking
reasonable steps for the preventlon and detectlon of fraud and other irregu larities.
In so far as the trustees are aware:
There is no relevant audit information of which the charitable company's auditor is
unaware.
The trustees have taken all steps that they ought to have taken to make themselve5
aware of any relevanr audit information and to establish that the auditor is aware of
that Information.
The trustees are responsible for the maintenance and integrity of the corporate and flnancial
information included on the charitable company's website.
Members of the charity guarantee to contribute an amount not exceeding £ I to the assets of
the charity in the event of winding up. The total number of such guarantee5 at l August
2023 was 8 and as at 31 July 2024 was l O. The trustees are members of the charity, but this
entitles ihem only to voti ng rights. The trustees have no beneficial interest in the charity.

Open College NeI￿vrk LoThlon Re9lon IOCNLR)
Trustees, annual report
For the year ended 31 July 2024
Audltor
Sayer Vincent LLP was re-appointed as the charitable'company's auditor during the year and
has ex pressed its willingness to operate in that capacitv.
The Trustees, annual report has been prepared in accordance with the special provisions
applicable to companies subject to the small companle5' regime. Approved by the trustees
on S December 2024 and signed on their behalf by
Kurt Hint2
Chair of OCNLR Board of Trustees

Independent audltorfs report
To the members of Open College Network London Region
For the year ended 31 July 2024
Opinlon
We have audited the financial statements of Open College Network London Region (the
'charitable company,) For the year ended 31 July 2024 which comprise the statement of
financial activities, balance sheet. statement of cash flows and notes to the financial
Statements. including significant accou nting policies. The financial reporting f ramework that
has been applied in their preparation is applicable law and United Kingdom Accounting
Standards. including FRS 102 The Financial Reporting Standard applicable in the UK and
Republlc of Ireland (United Klngdom Generally Accepted Accountin9 Practice).
In our oplnion, the financial statements..
Give a true and fair view of the state of the charitable company's affairs as at 31 July
2024 and of Its incoming resources and applicatlon of resources, includlng its
income and expenditure for the period then ended
Have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practlce
Have been prepared in accordance wlth the requirements of the Companles Act 2006
Basls for oplnlon
We conducted our audlt in accordance with International Standards on Auditing (UK) (ISAS
(UKI) and applicable law. Ou r responsibi lities under those Standards are further descrlbed in
the Auditor's responsibilities for the aud it of the financial statements section of our report.
We are independent of the charitable company in accordance with the ethical requirements
that are relevant to our audit of the financial statements in the UK, including the FRC'S
Eth ical Standard and we have fulfilled ou r other eth ical responsibilities in accordance with
these requirements. We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our opinion.
Conclusions relatlng to golng concern
In auditing the financial statements, we have concluded that the trustees, use of the going
concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties
relating to events or condltions that. individual ly or collectively, may cast significant dou bt
on Open College Network London Region's ability to continue as a going concern for a
period of at least twelve monihs from when the financial statements are authorised for
issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern
are descri bed in the relevant sections of this report.

Independent audltorfs reFK>rt
To the members of Open College Network London Reglon
For the year ended 31 July 2024
Other Informatlon
The other information comprises the information included In the trustees. annual report
other than the financial statements and our auditor's report thereon. The trustees are
responsible for the other information contained within the annual report. Our opinion on the
financial statements does not cover the other information and, except to the extent
otheThvise explicitly stated in our report. we do not express any form of assurance
conclusion thereon. Our responsibility is to read the other information and. in doing so,
consider whether the other Information is materially inconslstent with the financlal
statements or our knowledge obtained in the course of the audit, or otherwise appears to be
materially rnlsstared. If we identify such material inconsistencies or apparent material
mi5Statements, we are required to determine whether thi5 gives rise to a material
misstatement In the financial 5taternents themselves. If, based on the work we have
performed, we conclude that there is a material misstatement of this other information, we
are requ ired to report that fact.
We have nothlng to report in thi5 re9ard.
Oplnlons on other matters prescrlbed by the Companles Act 2006
In our opinion, based on the work undertaken In the course of the audlt:
The informatlon glven in the trustees, annual report for the financlal period for which
the financial starements are prepared is consistent with the f inancial statements; and
The trustees, annual report has been prepared in accordance wlth appllcable legal
requirements.
Matters on which we are requlred to report by exception
In the light of the knowledge and understanding of the charltable company and its
environment obtained in the course of the audlt, we have not identified material
misstatements in the trustees, annual report. We have nothing to report in respect of the
following matters in relation to which the Companies Act 2006 requires US to report to you
if. in our opinion=
Adequate accounting records have not been kept. or returns adequate for our audit
have not been received from branches not visited by u5; or
The financial statements are not in agreement with the accounting records and
returns., or
Certain disclosures of trustees, remuneration specified by law are not made,. or
We have not received all the information and explanations we require for our audit.,

IndeperKlent a￿1110￿$ report
To the members of Open College Network London Reglon
For the year ended 31 July 2024
or
The directors were not entitled to prepare the financial statements in accordance
with the small companies regime and take advantage of the small companies,
exemptions in preparing the trustees, annual report and from the requirement to
prepare a Strategic report.
Responsibilities of trustees
As ex plained more fully in the statement of trustees, responsibilities set out in the trustees,
annual report, the trustees Iwho are also the directors of the charitable company for the
purpose5 of company lawl are responsible for the preparation of the financial statements
and for being satisf led that they give a true and fair view, and for such internal control as
the trustees determine is necessary to enable the preparation of financial statements that
are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the
charltable company's abillty to continue as a going concern, disclosing. as applicable,
matters related to golng concern and using the going concern basis of accounting unless
the trustees either intend to liquidate the charitable company or to cease operations. or
have no real istic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as
a whole are free from materlal misstatement. whether due to fraud or error, and to Issue an
auditor's report that includes our opinion. Reasonable assurance is a high level of assurance
but is not a guarantee that an audit conducted in accordance with ISAS IUK) will always
detect a material misstatement when it exists. Misstatement5 can arise from fraud or error
and are considered material if. individually or in the aggregate, they could reasonably be
expected to influence the econom ic decislons of users taken on the basis of these financlal
statement5.
Irregularities, includlng fraud. are instance5 of non-compliance wlth laws and regu lations.
We design procedures in line with our responsibiliiies. outlined above. to detect material
misstatements in respect of irregularities, Includ ing fraud, The extent to which our
procedures are capable of detecting irregularities. includ ing fraud are sei out below.

Irthpendent a￿ltto¢S report
To the members of Open College Network London Reglon
For the year ended 31 July 2024
Capability of the audit in detecting irregularities
In identifying and assessing risks of material mi55tatement in respect of irregularities,
including fraud and non-compliance with laws and regulations, our procedures included the
following..
We enqulred of management which included obtaining and reviewing supporting
docu mentation. concerning the charity's policies and procedure5 relatlng to..
Identifying, evaluating. and complying with laws and regulations and whether they
were aware of any instances of non-compliance.,
Detectin9 and responding to the rlsks of fraud and whether they have knowledge of
any actual. suspected, or alleged fraud;
The Internal controls established to mlrl9ate risks related to fraud or non-
compliance wlth laws and re9ulations.
We inspected the minutes of meetings of those charged with 9overnance.
We obtained an understanding of the legal and regulatory framework that the charity
operates in, focusing on those laws and regulations that had a material effect on the
financial statements or that had a fundarnental effect on the operation5 of the charity
from our professional and sector experience.
We communicated applicable laws and regulations throughout the audit team and
remalned alert to any Indications of non-compliance throughout the audlt. We
reviewed any reports made to regulators.
We reviewed the financial statement disclosures and tested these to supporting
documentation io assess compliance wlth applicable laws and regulations.
We performed analytical procedures io identify any unusual or unexpected
relatlonships that may indicate risks of material m155tatement due ro fraud.
In addressing the risk of fraud through management override of controls. we tested
the appropriateness of journal entries and other adjustments, assessed whether the
Judgements made In making accountin9 esrlmates are indlcatlve of a potentlal blas
and tested significant transactions that are unusual or those outside the normal
course of busines5.
Because of the inherent limitations of an audit, there is a risk that we will not detect all
irregu larltles. including those leading to a material misstatement i n the f inancial Statements
or non-compliance with regulation. This risk increases the more that compliance wirh a law
or regulation is removed from ihe events and transactions reflected in the financial
statements. as we will be less likely to become aware of instances of non-compliance. The
risk is also greater regarding irregu laritie5 occurring due to fraud rather than error, as fraud
involves intentional concealment, forgery, collusion. omission or misrepresentation.

IndepeTrJent audlrorfs report
To the member5 of Open College Network London Reglon
For the year ended 31 July 2024
A fu rther description of our responsibilities is available on the Financial Reporting Councll's
website at.. www.frc.org.uklauditorsresponsibilities. This description forms part of our
auditor's report.
Use of our report
This report is made solely to the charitable company's members as a body, in accordance
with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken
so that we might state to the charitable company's members those rnatters we are required
to state to them in an auditor's repori and for no other purpose. To the fullest extent
permitted by law, we do not accept or assume responsibility to anyone other than the
charitable company and the charitable company's members as a body. for our audit work,
for this report, or for the opinions we have formed.
Joanna Pittman FCA (Senior statutory auditor)
17 December 2024
for and on behalf of Sayer Vincent LLP,
I l O Golden Lane, London, EC? Y OTG

Open College Nefyvork London Region (CKNLR)
Statement of flnancial activities (incorporating an income and expenditure account)
For the year ended 31 July 2024
2023
(l O months)
Total
2024
Total
Note
Income from:
Charitable activities
Other trad ing activities
Interest receivable
1,866,952
70,961
2,378
1.722,676
23,180
1,890
Total Income
1,940,291
1.747,746
Expendlture on..
Charitable activities
1.938.255
1.938.255
1,682.700
1.682.700
Total expendlture
Net Income for the year
Reconclllatlon of fund5:
Total funds brought forward
Total funds carrled fO￿ard
2,036
65,046
908.303
910,339
843.256
908,303
All of the above results are derived from continuln9 actlvlile5. There were no other recognlsed gains or
losses other than those stated above. All income and expenditure Is unrestricted.
20

Owi College Nets￿rk London Reglon (OCNLR)
Balance Sheet
For the year ended 31 July 2024
Company number.. 2876147
2023
11 O months)
2024
Note
Flxed assets
Intangible assets
Tangible assets
60,353
116,247
176.600
167,081
167,081
Current Assets
Debtors
Short term deposits
Cash at bank and in hand
239,658
250,000
479.224
968.882
253,769
104,913
717,225
1.075.907
Credltors: amounts falllng due wlthln one year
(198.863)
(324,463)
Net assetslllabllltle5
770,019
751,444
Total asset5 less current Ilabllltles
946,619
918,525
Creditors: amounts falling afier more than one year
(36,280)
(10,222)
Total net assetslllabllltles
910,339
908.303
The funds of the Charlty
Un resrricted fu nds
Total charfty funds
910.339
910,339
908,303
908,303
Approved by the rrustees on 5 December 2024 and signed on their behalf by:
Lucy Arnold-courtney
Trustee
Kurt Hintz
Trustee
21

Open College Nets￿￿¢ London Region (OCNLR)
Statement of cash flows
For the year ended 31 July 2024
2023
(l O months)
2024
Net Income for the reportlng perlod5 (as per the
statement of flnanclal actSvities)
Adjustments for..
Depreciation of tangible f ixed assets
Amortisation of intangible fixed assets
Interest and other trading income
2.036
65,046
63,170
14.747
(2.378)
65.740
(1,890)
Changes In:
(Increase)IDecrease in Trade and other debtors
IncreasellDecrease) in Trade and other creditors
108,987
(17,780)
(99,542>
Net cash flow from operatlng actlvltle5
(7,856)
220,104
Cash flows from Investlng actlvltles:
Interest and other trading income
Pu rchase of tang I ble flxed assets
Sale of tangible fixed assets (net of costs of d isposal)
2.378
(87,436>
11,8901
1208,8901
417,928
Net cash flow from Investlng actfvltles
(85.057)
207.149
Net Increasel(decrease) In cash
(92.914)
12,955
Cash and cash equlvalents at the beglnnlng of the year
822,138
809,7 83
Cash and cash equlvalents at the end of the year
729.224
822,138
22

Open College LorKlon Regknn (O(JLR)
Notes to the financSal statements
For the year ended 31 July 2024
l Accountlng pollcles
a) Statutory Informatlon
Open College Network London Region is a charitable company limited by guarantee and is
incorporared in England and Wales. The registered office address land principal place of
business) is 24 Angel Gate. City Road, London. ECIV 2PT.
b) Basls of preparatlon
The financial statements have been prepared in accordance with Accountin9 and Reportlng
by Charities: Statement of Recommended Practice applicable ro charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of I reland (FRS 102) - (Charities SORP FRS 1021, the Financial Reporting Standard
applicable In the UK and Republlc of Ireland (FRS 1021 and the Companles Act 2006.
Assets and liabilitles are inltlally recognised at historical cost or transaction value unless
otherwise stated in the relevant accounting policy or note.
In applying the flnanclal reporiing framework, the trustees have made a number of
subjective jud9ements, for example in respect of significant accounting estimates. Estimates
and Judgements are continually evaluated and are based on historical experience and other
factors, including ex pectations of f uture events that are believed to be reasonable under the
circumstances. The nature of the estimation means the actual outcomes could differ from
those estimates. Any sig nif icant estlmates and jud9emenis affeitlng these financial
statements are detailed within the relevant accounting policy below.
c> Publlc beneflt entlty
The charitable company meets the definition of a public benefit entity under FRS 102.
d) Golng concern
The trustees consider tha¢ there are no material u ncertaintles about the charitable
company's ability to continue as a going concern.
The trustees do not consider that there are any sources of estimatlon uncertainty ai the
reportin9 date that have a significant risk of causing a material adjustment to the carrying
amou nts of assets and liabllities with in the next reporting period.
e) Income
Income is recognised when the charlty has entitlement to the funds, any performance
conditions attached to the income have been met, it is probable that the income will be
received and that the amount can be measured reliably.
23

Open College Network LorKlon Region IOQ4LR)
Notes to the flnancial statements
For the year ended 31 July 2024
f) Interest recelvable
Interest on funds held on deposit is included when receivable and the amount can be
measured rel iably by the charity; this is normally u pon notification of the interest paid or
payable by the bank.
g> Fund accountlng
Restricted funds are to be used for specific purposes as lald down by the donor. Expendlture
which Meets these criteria is charged to the fund.
Unrestricted funds are incoming resources received or generated for the charl(able
purposes.
Designated funds are unrestricted fund5 earmarked by the trustees for particular purposes.
h) Expendlture and Irrecoverable VAT
Expenditure is recognised once there 15 a legal or constructive obligation to make a payment
to a third party, It Is probable that settlement wlll be required, and the amount of the
obligation can be measured reliably.
Expend iture on charitable activities includes the costs of delivering services and other
educational actlvities u ndertaken to fu rther the pu rposes of the charity and their associated
suppori costs.
l) Allocatlon of support costs
Resources ex pended are allocated to the particular activity where the cost relates directly to
that activity. The cost of each activlty Is made up of the total of d I rect costs and shared
costs, includ ing support costs involved in undertaking each activity.
Governance costs are the costs associated wlth the governance arrangernents of the charlty.
These costs are assoclated wlth constitutional and Statutory requirements and include any
costs associated with the strategic rnanagement of the charity's activities.
J) Operatlng leases
Rental charges are charged on a straight-line basls over the term of the lease. Under the 5-
year lease agreement, the lessor gave a four month rent-free period. This has been charged
on a straight line over the term of lease with a break clause of 3-years.
k) Tanglble flxed assets
Items of equipment are capltalised where the purchase price exceeds £500. Depreciation
costs are allocated to activities on the basis of the use of the related assets i n those
activities. A55ets are reviewed for impairrnent if circumstances indicate their carrying value
may exceed their net realisable value and value in use.
24

Open College Netwvrk tfjndon Reglon (OCNLR)
Notes to the flnanclal statements
For the year ended 31 July 2024
Depreciaiion is provided at rates calculated to write down the cost of each a55et to its
estimated residual value over its ex pected usefu I life. The depreciation rates in use are as
follows-
Fixtures & fittings
4 years
Computer Equipment 3 years
l) Intanglble flxed asset
Items of sofrware are capitalised where the purchase prlce exceeds £500. Depreciation costs
are allocated to activities on the basi5 of the use of the related assets in those activities.
Assets are reviewed for impairment if circumstances indicate their carryin9 value may
exceed rheir net realisable value and value in use.
Depreciation is provided at rates calculated to write down the cost of each asset to its
estimated residual value over its expected useful life. The depreciation rates in use are as
follows..
Software 3 years
m) Cash at bank and cash In hand
Cash at bank and cash In hand includes cash and short term highly Ilquld investments with a
short maturity of three months or less from the date of acquisition or openlng of the deposit
or similar account.
n) Credltors and prov151ons
Creditors and provisions are recognlsed where the charity has a present obligatlon resultin9
from a past event that will probably resu It in (he transfer of funds to a third party and the
amount due to settle the obligation can be measured or estimated reliably. Creditors and
prov151ons are normally recognised at their settlement amount after allowing for any trade
discounts due.
o) Penslons
Teacherfs Penslon Scheme (rps)
The charity participates In the Teachers. Pension Scheme (England and Wales) ("the TPS") for
its teaching s(aff. The pension charge for the year includes contributlons payable to the TPS
of £15,328.79 (2023 £32,817.24).
The TPS is an unfunded multi-employer defined benefit pension scheme governed by the
Teachers, Pension Scheme regulations 2014. Members contribuie on a'pay as you go. basis
wlth contributions from members and the employer belng credited to the Exchequer.
Retiremeni and other pension benefits are paid by public funds provided by Parliament.
The employer contribution rate is set following scheme valuations undertaken by the
Government Actuary Department. The latest valuation report of the TPS was prepared at 31
25

Open College NetsYorf( London Region {OCNLR)
Notes to the financlal statements
For the year ended 31 Juty 2024
March 2016 and was published in March 2019. This report confirmed that the employer
contribution rate for the TPS would increase from 16.48% to 23.68% although, recognising
that teaching establishments work on an academic and not financial year. the Government
deferred the implementation of this increase to September 2019. Employers in addition
from I September 2019 pay a scheme administration levy of 0.08% of pay and will be
payable over the remalnder of the period to March 2023 to ensure that the level of the
notional fund at rhe next valuation of the scheme is expected to be unaffected by delay.
The charity is unable to identlfy its share of the underlying assets and liabilltles of the
scheme. Accordingly, the charity has taken advantage of the exemption in FRSI 02 and has
accounted for Its conrributions to the scheme as if it were a defined contributlon scheme.
Local Government Penslon Scheme (LGPS)
The LGPS is a multi-employer defined benefit scheme, It is contracted out of the State
Second Pension. The assumptlon and other data that the most slgniflcant effect on the
determination of the contribution levels are as follows..
Latest actuarial valuation
Actuarial method
Discount rate
Salary scale increases per annum
Market value of assets at date of last valuation £6.053m
Fund Surplus
£1.63bn
Fundlng Level
128%
31 March 2022
Prospective benefirs
5.2%
The LGPS is a multl-employer pension scheme. The charlty Is unable to identlfy Its share of
the underlying assets and liabilities of the scheme. Accordingly, the charity has taken
advantage of the exemption In FRSI 02 and has accounted for its contributions to the
scheme as if it were a defined contribution scheme.
Total contributions to the scheme during the year were £28.361 (2023 £57,835). No
additional payment5 have been required this year to cover the deficit funded. (2023.. Nil).
26

Open College Neiwork London Reglon (OCNLR)
Notes to the flnanclal statements
For the year ended 31 July 2024
2 Income
2023 <10
months)
Total
2024
Total
Income from Charltable Activities
Accred itations and reg istration income
Unit Development income
Subscriptions
Other service income
1,542,888
28,526
238,949
56.589
1.866.952
1,472,290
1.330
206,336
32,720
1,722,676
Income from tradlng activitle5
Other income
70.961
23,180
Income from Investments
Interest receivable
2,378
1,890
Total
1,940,291
1,747,746
27

Optn Colttgt London Regknn
Note5 to the financlal statements
For rhe year ended 31 July 2024
3 Expethdittife
Expendliure on
charltable aaivltle5
Covemance
Co515
2024
Total
E¥pendiiure on
Governance
20Z3 110 mor*ih51
Total
C0515
Staff costs (Note 51
Moderators, feÈs
1,071,490
80.166
74.135
101.934
58.956
249.005
18,915
1.090,405
80,166
74,135
101,934
58.956
249,005
937.889
68,215
61,710
62.889
60.890
184,288
6,262
10.385
15,467
9S3,356
68,215
61,710
62,889
60.890
184,288
6,262
10.385
Sub5crlpiions and publlcatlons
Ren15, rare5 and Insurance
Telephone. postage and statlonery
Con5ultancv
Travel and sub5151ence
Sundry expenses
Dtpreclatlon
Arnonl$4tlon
Repalrs and rnalniÉnanc*
74,979
433
63,170
14.747
8,811
10,909
63.170
14,747
65.740
65,740
33,8Z8
33.8Z8
10,909
Computer management and
malntenance
Legal and professional
Bank charges and Iniere5r
Publlcity and markotlng
8dd debi provlsion
9,269
9,269
5.066
5,066
33.732
2,670
24,386
33,732
2,670
24,386
23,590
2.609
15.878
8.921
64,000
3.650
23,590
2,609
15,878
8,921
64,000
3,650
23,581
1,662,700
72,338
2,990
72,338
2,990
12,600
1,938,255
Acctss Revalidation
Governance costs
12,600
31,948
23.581
11,906,307
31,948
1,938,255
1,643,652
39,048
1,682,700
39,048
139.0481
vernance £05r5
Resourcei Expended
1.938,255
1,682,700
28

Open College Net¥￿￿ London Reglon IOCNLR)
Notes to the financial statements
For the year ended 31 July 2024
4 Net (expendlture)Ilncome Is stated after charglngl(credltlng):
2023 (10
months)
2024
Depreciation of tang ible f ixed assets
Amortisation of intangible flxed assets
Payments for operating leases
Property
Auditors remuneration
for audit services
for non-audit service5
63.170
14.747
65,740
112,270
57.631
11,700
,375
10.950
1,300
The above audlt fees are excluslve of VAT.
5 Analysls of staff costs. trustee remuneration and expense5. and the cost of key
management personnel
The total staff and employee benefits for the period are analysed as follows..
2023 (10
months)
2024
Wages and salaries
Social Security Costs
Employer contributions to pension plans
Termination costs
913.692
92.688
43.784
40,240
1,090,405
787.650
83,966
81,740
953,356
The following number of employees received employee benefits (excluding employer
penslon costs and employer's national Insurance) during the year between=
2023 (10
months)
No.
2024
No.
£60,000 - £69,999
£70,000 - £79,999
£80,000 - £89,999
£90.000 - £99,999
29

Open College Netr￿rf( London Reglon (O(NLR)
Notes to the flnanclal statement5
For the year ended 31 July 2024
The total employee benefits (Including pension contributions and employer's national
insurance) of the key management personnel were £173,778 (2023: £150,707).
The charity trustees were neither paid nor received any other beneflts from employment
with the charity in the year 12023= £nil). No charity trustee received payment for professional
or other services su pplied to the charity (2024- £nil).
Trustees, expenses represent the payment or reimbursement of travel and subsistence costs
for two Trustees totalling £433 '12023'. £0) incurred by O (202 3.. 0) members relating to
attendance at meetings of the trustees.
6 Staff numbers
The avera9e number of employees (head count based on number of staff employed) during
the year was 25 12023= 25)
Staff are s plit across the activities of the charitable cornpany as follows (head count basi5).'
2023 (10
month5)
No.
2024
No.
Chief Executlve Off ice
Administration
Finance
Information Technology
Curriculum group
Quality group
2S
25
7 Related party transactlons
A number of trustees hold positions at OCNLR approved centres London. This includes=
Natalie Garner - Croydon College and Kurt Hintz - Petroc College.
All transactions were on normal commerclal terms and were made at arms-length.
8 Taxatlon
The charitable company is exempt from corporation tax as all its income is charitable and is
applied for charitable purposes.
30

Open College Nets￿Ik Lorthn Reglon {OCNLR)
Notes to the flnanclal 5tatement5
For the year ended 31 July 2024
9 Fixed Assets
Flxtures and
flttlngs
Computer
equipment
Tanglble fixed assets
Total
Cost
At the start of the year
Additions in year
Transfer to intang ible fixed assets
At the end of the year
183,808
188
49,611
21,747
(14,400)
56,958
233.419
21.935
(14,4001
240,954
183.995
Depreclatlon
At the start of the year
Charge for the year
Transfer to intangible f ixed assets
At the end of the year
48,329
45.968
7 8,007
17,202
(4,800)
30,409
66,337
63,170
(4.800)
124,707
94,297
Net Book value
At the end of the year
At the start of the year
89,698
135,478
26,549
31,603
116,247
167.081
Intan9lble fixed assets
SOf￿are
Total
Cost
At the start of the year
Transfer from tangible fixed assets
Additions in year
Ai the end of the year
14,400
65,500
79.900
14,400
65,500
79.900
Depreclation
A( the start of the year
Transfer from tangible fixed assets
Charge for the year
At the end of the year
4,800
14.747
19,547
4.800
14,747
19.547
Net Book value
At the end of the year
At the start of the year
60.353
60.353
31

Open College Netsw)rk Lnndon Reglon (OCNLR)
Notes to the flnancial statements
For the year ended 31 July 2024
l O Debtors
2023 110
months)
2024
Trade debtors
Prepayments and accrued income
206,005
33,653
239,658
155,080
98,689
253.769
I I Crtdltors: amounts falllng due wlthln one year
2023110
months)
2024
Trade creditor5
Accruals and deferred income
Social secu rlty and other taxes
Other creditors
83,082
85,587
20,357
9.837
198,863
129,623
148,190
31.281
15,368
324,462
Total
Credltors: amounts falllng due after one year
2023110
months)
2024
Accruals and deferred income
36,280
10,228
Within accruals and deferred income as at 3110712024 there is £74k which relates to
deferred income (2023- £65k).
2023 (10
months)
2024
Balance brought fornard
Amounts released from prior reporting period5
Income deferred in the current year
Balance carried forward
65,665
(18,403)
7,227
54,489
223.535
1223,535)
65.665
65,665
32

i.f
Open College Nety•Drk LorKlon Reglon (0(￿LR)
Notes to the flnanclal statements
For the year ended 31 July 2024
12 Analysis of net assets between fund5
Unrestrlcted
funds
Fund balances at 31 July 2024 are represented by:
Total
Tangible Fixed Assets
Intangible Fixed Assets
Current Assets
Creditors- amounts falling due within one year
Creditors: amounts falling due after more than one year
Total
116,247
60,353
968,882
(235.143)
136,280
910,339
) 16.247
60.353
968.882
(235,143)
136,280>
910.339
Fund balances at 31 July 2023 are represented by:
Tangible Flxed Assets
Current Assets
Credltors.. amounts falling due within one year
167,081
1,075,907
(324.463)
167,081
1.075,907
(324,463)
Creditors: amounts falling due after more than one year
(10,222)
(10,222)
Total
908,303
908.303
13 Movements In fund5
Balance at I
0110812023
Movement In funds
Income
Expendlture
Balance at 31
3110712024
Unrestricted Funds
General
908,303
1.940.291
(1,938,255)
910.339
Total Funds
908.303
1,940,291
(1,938,255)
910,339
Prlor year
Balance at I
0111012022
Movement In funds
Income
Expendlture
Balance at 31
3110712023
Unrestrlctod Funds
General
843,256
1.747,746
(1 .682.700)
908.303
Total Fund5
843,256
1,747,746
(1 .682.700)
908.303
33

Open College NeM￿rt£ London Regknn (OCNLR)
Notes to the flnanclal statements
For the year ended 31 July 2024
14 Operating lease commltments
The charity's total future minimum lease payments under non-cancellable operating leases
is as fol lows for each of the followin9 periods.
Property
2024
2023 110
months)
Less than one year
One to five years
57.631
57.631
57.631
57.631
57,631
57.631
15 Legal 5tatu$ of the charlty
The Charity Is a company limited by guarantee and has no share capital. The liability of each
member in the event of windlng up is limited to £1.
34