2024-07-31-accounts

Company registration number: 03829217 Charity number.. 1079785 NOCN (A Company limited by guarantee) Trustee, Report and Consolidated Financial Slalemenls For the year ended 31 July 2024 'ADZ66COR* 2￿0312025 COMPANIES HOUSE A11

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NOCN (A Company limited by Guarantee) Contents Page Reference and Administrative Details of the Charityj Its Trustees and Advisers Trustees, Report 3-15 Independent Auditor's Report on the Financlal Statements Consolldated Statement of Flnancial Activities 16-19 20 Consolidated Statement of Financlal Position 21 Company Statemènt of Flnanclal Posltlon 22 Consolidated Statement of Cash Flows 23 Notes to the Flnanclal Statements 24-41

NOCN IA Company limited byGuarantee) Reference and Administrative Details of the Charity, its Trustees and Advisers For the Year Ended 31 July 2024 Dlrector and Trustees The Trustees of NOCN, who were also company directors for the purposes of Company Law. Serving during the year and since the year-end are as follows.. NOCN Trustees, and Dlrectors: Chair Oavid Gareth Jones Vice Chair Corrina Hembury Simon Perryman Adrian Toomey Lucy Hunle Stephen Evans (Appointed as Vice Chair 16August 2023} {Appointed 31 October 20241 Chair Designate Trustees {Reslgned 8 October 2024) Nicola Davis IResl9ned 20 March 20241 David Wilkins Mark Froud (Appointed 7 September 2023) (Appointed 12 September 2023) (Appointed 29 November 2023) {Appoinled 30 January 20241 (Appointed 21 February 2024) {Appointed 26 April 2024) (Resigned 30 October 2023} Deborah Howarlh Darryn Hedges Hannah Horne Sylvia Ashton Mark Scott Kay Dickinson Sarah Slandeven Secretary NOCN Job Cards Trustees, and Dlrectors: Chair Alison Duckles CBE Graham Hasting-Evans David Mosley {Resigned 8 July 2024) Carl Hassell Paul Allman Timolhy Brownbridge Kay Dickinson Deborah Howarth {Appointed 8 January 20241 NOCN India Skills Foundation Directors: Director Graham Hasting-Evans Dr Sunil Abrol Page11

NOCN IA Company limited by Guarantee) Reference and Administrative Details of the Charity, Its trustees and Advisers For the Year Ended 31 July 2024 (contlnued) Key Management Personnel- NOCN Group Executive Committee in 23124: Graham Hasling-Evans - Group Chief Executive Simon Renny- Group Director (Finance & Governance & Deputy CEO) - until 31 July 2024 Simon Renny- Group Dlrector (Research and Strategy) - from 01 August 2024 Paul Johnson Group Direclor (Awarding Organisalion) Carl Hassell - Group Director (Job Cards) - until 13 October 2024 Carl Hassell- Group Chief Operating Officer~ from 14 October 2024 Garelh Cutts - Group Director {Digilal Delivery and Improvement) Louise Allen - Group Director (Global Business Development and Marketing - left 2 January 2024) Sohil Zokari -A¢ling Group DirectOT (Finance)- from 01 August 2024 Relerence and admlnlstratlve detall8.' Charity number.. NOCN 1079785 Job Cards 1182053 Company number.. NOCN 03829217 Job Cards 11634699 NOCN Registered office.. Acero Building 1 Concourse Way Sheaf Street Sheffield, S1 2BJ Our Advlsers: Bank National Westminster Bank Pl¢ 7 Market Place INOCN & NOCN Job Cards) Derby, DE19DS Solicitors Andrew Holland Law Limited Suite 2, The Bakery Millenium Business Park steeton. Keighley West Yorkshire. BD20 SRB Auditors Armstrong Walson Audit Limited Thornfield Business Park Northallerton, DL6 2XQ Page12

NQCN IA Company limited by Guarantee) Trustees, Report For the Year Ended 31 July 2024 The Trustees are pleased lo present their Annual Direclors, Report together with the Consolidated Financial Slalemenls of the Charity and its subsidiary for the year endin9 31 July 2024. which are also prepared lo meet the requirements for a directors, report and accounts for Companies Ael purposes. The Financial Statements comply with the Charities Act 2011, the Companies Act 2006, the memorandum and Articles of Association, and Ac¢ounling and Reporting by Charits"es.' Slalement of Recommended Practice applicable to charities PTeparing their accounts in accordance with the Financial Reporting Standard and applicable in the UK and Republic of Ireland (FRS102). Page13

NOCN (A Company limited by Guarantee) Trustees, Report (continu8d) For the Year Ended 31 July 2024 Chair's Foreword l am pleased to piesent the NOCN Group Annual Report and Accounts for 2023124. Whilst our Group activilies are 9uided and driven by our charitable objectives it is important to sustaining and enhancing those objectives that year on year. we deliver a financial performance thal not only underpins the Group's viability bul provides funds for future investment and development for our beneficiaries. 11 is therefore pleasing lo report a robust financial performance in the year with lolal income increasing from £16.5 million to £19 million and nel income increasing over fivefold to £0.7 million. Total funds reported amount lo £5.1 million with gross cash at bank standing al £1.9 million. These results derive from the strategic and operational dlsciplines embedded in the Group in previous years and our consistent application of and focus on our core competencies as an international Charity delivering future-fit skills solutions. Key strategic highlights include.. Leading the sector on developing skills lo achieve a Nel Zero carbon economy. Our profile in this area led to our repres8nlation on the government's Solar Taskforce and as a major player in building the Green Construction Advisory Panel (now Nationwide Net Zero Training and Skills Accreditation Programmel. We finish the year with a strong green skills qualih'calion offer. The malor restructure of the organisalion deslgned lo fully support the growing and complex apprenticeship end-point assessment (EPAI business, including by slrenglhening customer service and by improving the consistency and quality of our assessment practices and decisions. Conlinulng lo grow our international presence with growth of several international partnerships, despite challenges in the global economy. We have strenglhened our position in the Middle Ea51 and are now reco9nised as Ihe leading Technical and Vocational Education and Training ITVET) Awarding Organlsalion in Bahrain. Additionally. we have approved new Cenlres across the Kingdom of Saudi Arabia. We have also seen continued growth in our partnerships in Europe, India and ASEAN. • In our Construction Plant Competency Scheme ICPCS) operations launching industry leading digitally innovations, expanding further our international offering, slrenglhening our regulatory approvals. compliance and quality assurance. Being named amongst the Best Medium-sized Organisations in the UK in the Sunday Times 8esl Places to Work 2024 list, In addition, after the year end, one important organisational change has taken place and one is planned. Fir511y, a Chief Operating OffiGer role was established and appointed fof. This new role will allow a greater distinction be￿een management a¢¢ountabilily for the delivery of strategic and operational actions. Secondly, NOCN and ils subsidiary NOCN Job Cards will merge during 2025. This will enable delivery ol a fully Integrated service incorporating all of Job Cards, operations lo our cuslomers whilst maintaining the same quality bul with greater efficiency. 11 will also support our charitable objectives by enhancing the training and development opportunities and lifelon9 learning available lo learners. operatives and card holders. It is important lo maintain our strategic direction and discipline moving foNard. Our immediate future sees us face change on multiple fronts leading with a new Government with a wide-ranging growth and skills agenda. changing skills demands Irom innovations such as Al, a rapidly moving Net Zero agenda, changing funding and levy impacts and geo-political events. I believe however that NOCN Group is well positioned to deliver against this change and uncertain backdrop, expanding its charitable reach whilst maintaining its strong financial status. Page14

NOCN (Acompany limited by Guarantee) Trustees, Report Icontlnuedl For the Year Ended 31 July 2024 I therefore expect to see further progress in 2024125 buill upon the commilmenl of all of our staff and management who on behalf of the Board of Trustees I thank for all their hard Wofk and professionalism throughout Ihe year. Gareth Jones Chair of Trustees, NOCN Group 5 December 2024 P8ge15

NOCN IA Company limited by Guarantee) Trustees, Report {continued) For the Year Ended 31 July 2024 Our Purpose, Objectlves and Activitles The Purpose of the Charity The purpose and mission statement of the Charitable Group is to SLJPPOrt learners and apprentices lo achieve success in life and work and to support Communities and organi5alions lo develop and prosper through regulated qualifications, apprernliceship assessments, skills accreditation, assessment support, access lo higher education, competency cards, consultancy advice and training. The Objectlves of the Charltable Group The Objectives of the Charitable Group are.. The advancement of the education of the public in one or more of the following ways: by promoting and widening participation in education and Iraining. including for those people who have previously been excluded from educational opporlunilies., by improving the quality and flexibility of education provision for the public benefit, including for those people who have previously been excluded from educational opportunities., and by improving access to learning opportunities and facililaling progression lo further learning, employment and higheT education. particularly through the award of CTedits and credit based competency qualifications." The Charitable Group works to deliver these objectives through its key Group functions as follows.. NOCN Education and Skills policy research through NOCN'S work in contributing lo government vocational education and skills policy reviews and other research papers it has dellvered in conjunction with paftners with the aim of improving the quality of the vocational education system. NOCN Awarding Organisalion through its work in developing and promoling vocational qualifiGalions Ihat meet the needs of employef5 and help learners progress in employment or training. Apprenticeship End Point Assessmenl - though its work in providing a high quality, compliant apprenticeship assessment service lo employers of apprentices. Due to ¢han9es in Government regulation and quality assurance this aclivity became parl of the Awarding Organisalion in January 2023. NOCN Job Cards through ils work in assessing the competence of workers lo operate construction plant on construclion sites and operating Ihe scaffolding card scheme on behalf of CISRS. as well as other Gompelency-based ¢ard schemes il may operate in the future. International - through the provision of consultancy to improve apprenticeship systems ion olher countries as well as the provision of ESOL International and other qualifications to countries that are keen lo utilise UK qualificalions. We are also extending our carding services internationally. Page16

NOCN IA Company limiled by Guar8nteel Trustees, Report leontlnued) For the Year Ended 31 July 2024 Publlc Benefit The Trustees have complied with their duty in accordance with the UK Charities Act 2011 to follow the Charity Commission's guidance on the operation of this publlc benefit. The Charitable Group provides a public benefit to advance education and training for the general public through.. the developmenl and maintenance of credit based or componenl-based competency qualifications and units as w811 as short cours8 learners. awards in the UK and international counlries., ils continued work as a leading accredited End Point Assessment Organisalion for apprenliceships., and the operation of the Construction Plant Competency Scheme (CPCS) which ensures the Construction Plant Operators have the right qualifications and experlence lo operate different classes of plant machinery on construction sites. In addition, it operates the CISRS ￿affoldIng card scheme, which NOCN Job Cards operates on behalf of CISRS. Within the requirements of the individual qualification standards. NOCN qualifications are open to all members of the public, The Charitable Group is committed to equality, diversity and inclusion and holds the status of a "Leader in Diversity" by th8 National Dlversity Cenlre. The Charitable Group continues lo demonslrale ils objective of widening participation in education, working with groups and communities that have Iraditlonally not benefited from Iradilional or formal educational opportunities, for example learners working at lower educational levels, SEND learners; learners with few formal qvalificalion,. learner5 based in offender inslilulions., younger learners who are not in employment or training,. the unemployed and people working in industries th81 have not traditionally valued formal qualifications. Key Achlevements. Activitle8 & Performance In the year The Charitable Group is able to demonstrate progress against its key obieclives, and key achievements can be svmmarised as follows across the following dSvisions of the Group.. NOCN Awarding Organisatlon NOCN continued throughout the year to engage fully with the Westminster government's reform of vocational and technical qualifications., the most significant events being the implementation of the first cycles for Level 3 and Level 2. NOCN subsequently gained approval from the Institute for Apprenticeships and Technical Education IlfATEI for five Level 3 qualifications and for 12 Level 2 qualifications. These 17 qualifications were selected as the m05t comfflefcially important products for the NOCN business. However, when the general election was called for July 2024 the reform programme was paused and the new government is expected to make a decision about reform by the end of 2024. In the meantime, NOCN has continued to engage with the Department for Education to manage the risk to the business caused by the uncertainly. NOCN'S judgement is that the reform programme will accelerate the trend of a declining vocational and technical qualifications market in England. The decline poses significant threat to the business, bul NOCN has, over the last five years, taken sustained action to mitigate the risk by diversifying our product offer away from nationally publicly funded qualifications lo other produGt types and to the international market. The other product types include Assured Short Courses, which are in demand lo run alongside main study programmes for apprentices or 16 to 19 years, or as upskilling courses for the existing workforce. We have also made a start on building a suite of online couises, which are sold directly to the public. Page17

NOCN IA Company limited by Guarantee) Trustees, Report Icontinuedl For the Year Ended 31 July 2024 NOCN conlinued to lead Ihe sector on developing skills lo achieve a nel zero carbon economy. Our profile in this area led lo our representation on the government's Solar Taskforce and as a major player in building GCAP (Net Zero Training and Skills Accreditation Programme). We finished the year with a strong green skills qualification offer and a rapidly expanding Assured Shorl Course offer including in hydrogen as an alternative, non-polluting source of fuel. In summary, in 2023124 we offered around 700 products in the UK and 340 internationally. Outside of our core business. we continued to help support Onsite Construclion T Level leaineTS Io demonslrale full occupational competence by developing initial and summative assessment. The contract involved us working with key partners in the sector including the Oeparlment for Educalion, the Institute for Apprenticeships and Technical Education, the Galsby Foundation and the Association of Colleges IAOCI Other notable achievements in Ihe year included setting up a new Sector Monagemenl Team to improv8 the quality of our market research and lo advise on the commercial viabilily of our products and product offers and the successful launch of a new assessment platform. NOCN Apprentlce8hlp8 In 2023124 NOCN Saw the rewards from the major reslwGlure of the awardin9 organisation designed to fully support the growing and complex apprenticeship End Point Assessment (EPA) business, including by slrengihening customer service and by improving the ¢onsisten¢y and quality of our assessment practices and decisions. As a result, NOCN remained as the lop End Point Assessment Organisation in a very competitive market, offering an assessment seNice for 89 apprenticeship standards across seven occupational routes and seven levels. Construction and engineering continued lo comprise the highest volume of business, In mid-year, as EPAconlinued lo grow, and lo enhance our position, NOCN appointed a dedicated Head of Customer Services and Operations to supplement the existing Heads of Department Team who contribute to EPA. We also strengthened the operalional leams to conlinue to thrive in a competitive market. There We￿ also difficult decisions made about consolidating our offer to ensure a conlinued high level of serwice. We decided to withdraw from both the linance and retail markel which are dominated by olhef organisalions. Our svccesses in EPAwere all the more impressive as the whole sector continued lo be challenged by a shortage of competent assessors and Iherefore the iisk of us not delivering a timely seNice for apprentices. To miligale the risk, we established a strong cross-funclional team lo forecast and control demand, and lo recruit. train and deploy assessors lo meet the demand. As a result, we consi51ently met our service standard of fulfilling 950/• of assessment bookings within 10 workin9 days, Financially, NOCN continued lo lake action lo improve the commercial position of EPA, including by driving down the costs of delivery. The action included the decision to recruit more full-time slaff in place of freelanGe workers. At policy level, NOCN has been involved in discussions about developing a more cost effective End Point Assessment system. NOCN Job Cards CPCS supports people to gain employment and develop their Careers within the construction plant sector by ensuring operatives meet the standards expected by industry CPCS.then issues operatives Page18

NOCN IA Company limited by Guarantee) Trustees, Report (continued) For the Year Ended 31 July 2024 remain compliant and the only plant card scheme fully compliant with the PSRO Card Scheme Framework. During 2023124 CPCS has gone through significant changes to ensure that the CPCS card scheme meets the requirements of the Standard Sellin9 Body for the introduction of"New Training Standards.. as such we have had lo change many of the scheme rules lo ensure compliance. CPCS has strong support from industry. We have pul together industry working group5 to ensure that the Iraining standards were adopted, improvements to the scheme are delivered and meet the needs of industry. CPCS has been able lo gain th8 SUPPOrt of the board and its industry repr8senlaliv8s lo creat8 and launch an online version of the Health, Safely and Environment {HS&E) lesl for plant operatives wilh interactive learning and an invigilaled lesl. Job Cards created great on-line learning content that is easy lo navigate and improves knowledge of the health safely and environmental iesponsibililies of employers. employees and contractors. We have changed the approach of Renewal Testing in independent locations and have a lull on-line offer of onllne CPD, which is also interactive. Job Cards continues lo support cenlres. employers, and operatives in enhancing skills and competence in the plant sector and working on closing the sector's skills gaps. We have also changed the way that opefalives renew their Blue Competenc8 card. Operatives no longer have lo book appointments and travel to test locations, instead they can book Renewal CPD online, the renewal CPD has a modularapproach and cover5 family groupings relevant lo the calegoTies held on the blue card. Operatives can now self-serve and do their renewal fully online. CISRS smart carding processes are managed by Job Cards, volumes have remained comparalive lo the previous year, however our costs have increased therefore we have recently renegotiated the CISRS Contract for the 2024125 penod. Internatlonal The international markel continues to present significant opportunities for product diversification. The Group has experienced growth in several international partnerships, despile challenges in the global economy. We have strengthened our position in the Middle East and are now recognised as the leading Technical and Vocational Education and Training ITVETI AO in Bahrain, having begun conlraclual work with Skills Bahrain lo develop skills lesls. Additionally, we have appfoved new cenlres acr05S the Kingdom of Saudi Arabia. Theie has also been a concerted effort in the year to grow our inlernalional business focusing on the Indian sub-continent and th8 member slates of the Gulf Cooperation Council. A particularly exciting and ongoing opportunity was to facililale the migration of Indian labour to skilled jobs in the Kingdom of Saudi Arabia, which has instigated a major Construction programme in the north west of the country. Our offices in India and in Bahrain gave us a local presence, which places us in a strong position to provide our products and services intemationally. In addition lo the new work in Asia, our existing management and productivity business in India continued lo flourish based on a strong partnership with Neltur Technical Training Foundation {NTTF) and Haryana Slate Board of Technical Education IHSBTEI. In Europe, our English for Speakers of other Languages (ESOLI qualifications continued lo be highly reco9nised and used in Greece Our partnership with Global Awards based in Athens continued to be very productive and a project is underway lo roll out the business across more of Europe. Page19

NOCN (A Company limited by Guarantee) Trustees, Report (continued For the Year Ended 31 July 2024 Educatlon and Skills Policy & Research As an integral part of supporting our charitable objectives, the Group continues to support a number of national awards, which aim to encourage learning across society including disadvantaged groups. The national awards that we have supported this year include Association of Colleges IAOCI. Beacon Awards and Sludenl of the Year Awards, Multi-cultural Apprenticeship Ne￿Ork, National Apprenticeship Awards, National Federation of Builders Top 100 Women in Construction Awards, Construction Awards, Kenl and Medway Graduation. North East Learning Providers, Outstanding Green and Sustainable DevelopmenlAward, Nurse Training Sponsorship forAshgate Hospice. Ashgale Hospice Sparkle Walk 2024 and Ted Wragg Trust Innovation Competition. In addilion. the Group has taken part in and supported research on educalion and skills development to promole learning and open skills development lo more and more of our communities. In 2023124, this included.. Quarter 1.. GCAP in Exeter {all year-round 5UPPOrt) CCATF Boosting Routes into Industry Contributed to CLC report and ITB review Quarter 2.. Multi-cultural Apprenliceships PatTons Event Contributed lo the Aoc annual conference focLJssing in on Green Skills BACH 1-day Conference in November The APPGIPolicy Connect report on HTQS launched in House of Lords on 5 December The College Alliance Inlernalional Conference Quarter 3.. BACH 2-day conference in March Policy influencing on Level 2 reforms for Construction and other sectors jointly with AELP ConlribLJted to the All-Parly Review on the Skills System Quarter 4.. Published with BACH a report on apprenticeship completion rates Published the Global Construction Skills - Implications for UK report Sponsored 'The Great Skills Divide, report Published the Guide lo UK'S Education and Skills Offer Graham Hasting-Evans served as one of the commissioners for the'skills 2030, report Flnanclal Revlew The Group has seen a continued growth in income across all main business areas in 2023124. The Group's Operating cosls have increased by 120/0 mainly due to hlgher EPA ¢osts in line with the growth in EPA income this year, as well as higher staff costs due to Inflationary pay pressures and investment in the continued growth in the business offer to our customers. Pagel 10

NOCN (A Company limited by Guaranteel Trustees, Report Icontinuedl For the Year Ended 31 July 2024 As a result, our operating surplus increased to £1.9m in 2023124 compared lo £1.2m in 2022123. £OO(Ys I￿orne Opeiating cosls Operating Ideficlt) I surplus Depreciation, Amorfi5alion & Inlefesl Other revalvalK)ns Net Incoming rè80urcè* after other galns 1110gse$l 2023124 19,082 17.148 2022123 16.502 {15.267 1.235 11.111) 11.2531 681 125 Golng Concern The Board has assessed the current and projected solvency of Ihe Group lookin9 foNaTd over 12 months from the point of signing In assessing the going concern of the Group at the date of this report we have reviewed our forecasts for 2024125 and developed reasonable best and worst case income scenarios taking into accounl the likely external economic environment and other external market factors. As part of the going concern assessment we carriecl out sensitivity les15 on our Statement of Flnancial Activities and cash flow projections looking forward lo end of 2025126 and have looked al how much income would need lo drop over this period beyond our worst case income scenario assuming we lake no action lo ieduce costs, such that we cannot meet all our liabilities as they fall due at any point. The assessment has taken into account the year to dale performance in 2024125 and latest P&L and cashflow projections as al the end of Oclob8r 2024. The Board has reviewed the assessment and considers that the Group lo remain a going concern and that the Group wlll Gonllnue to make sufficient surpluses in 2024125 and 2025126 to cover liabililies as they fall due. Al 31 July 2024, and al the date of Ihis report, the ba18nce sheet and forward cash projeclioiis show that the Group can Continue lo meet its all ils obligations as they fall due over at least the next 12 month5. In the event that the business is impacted by economic downturn or other external factors then the business will lake prompl acllon lo further reduce ils c051 base lo ensure Ihat it can still rneel its obligations as they fall due. Subsldlary 9olng concern assessments and Group consolldatlon declslon In light of the Board's decision to merge Job Cards into the NOCN charity In 2024125 the trade and assets of NOCN Job Cards will be transferred into the parent company of the Group, NOCN. in the financial year 2024125. As a result, Job Cards as a legal entity will cease trading and hold no asse15 by the end of2024125. The financial 51atemenls of 2023124 have therefore been prepared on a basis other than going concem. No adjuslmenlswere required as a fesull of preparing the accounts on a basis other than going concern. The services delivered by the subsidiary will continue to operate post the merger with NOCN. NOCN Job Cards legal entity will continue lo trade as normal until the merger wilh NOCN takes place in 2024125.11 is the intention of the Trustees to dissolve NOCN Job Cards soon after. Page111

NOCN IA Company limited by Guarantee) Trustees, Report (continued) For the Year Ended 31 July 2024 Key Rlsks In the year The key risks the Group has faced in 2023124 have been.. Cost inflation. We have seen staff and assessor pay cost pressures increase in the year in line with the increase in inflation generally as well as inflationary pressures on our other cost lines. We continued to see an increased risk in respect ol our ability lo recruit staff & assessors lo support the higher levels of activity. We Continue to look lo optimise our recruitment channels and our offer to ensure that we remain compelilive in a difficult market. External UK Government policy in respect of vocational quallfication funding levels in future years for our products continues to Pfovide some uncertainty. We are mitigating this through the conllnued diversification of our product offering. General economic uncertainty impacting the constru¢tlon sector in particular, which we have been mindful of in our future planning. The risk that the CPCS scheme fails lo adapt successfully to the new CITB funding arrangement such that market share and income is lost lo ils competitors Through the work carried out in 2022123 we have managed to Successfully miligale this risk. The T15k that the ITB Review being carried out by the Government to close CITB, as this Gould have had a delrimenlal impact on NOCN'S operations. R88erves Policy The Group's reserves policy was reviewed and updated in 2023124. The aim of the policy is lo keep the Group's balance sheet unrestricted reserves in the range of £6.8m and £9.7m. Equating lo approximalely 5 to 7 months of projected operating expenditure. The policy also aims lo keep the Group's available cash williiii £1.8m and £3m. 'I'hese unrestricted reseNes. which are freely available for general use. are held lo wilhsland any short-lerm financial risks and to support any net windup costs in the event of closure. As al the end of July 2024, the Group was operaling outside the bollom of this reserve range due lo the need to invesl in the business and address the increased Costs facing the business. The Group's reserve levels have increased by £0.7m compared lo the prior year levels of £4.5m. The Board approved a bLF5iness plan and budget for 2024125, which will increase Ihe reserve and available cash levels and the Group is expected lo move lo coming within the reserves target by 2026127. Powers of Investment The Trustees are authorised by the Memorandum of Association to invest monies not immediately required for the Charity's own purposes in such investments, securities or property as they deem fit subject lo any conditions required by law. Future Plans The Group's strategic objectives for NOCN Vision 2030 are lo.. Have maintained our profile with Government & our target industries as a leading Awarding Organisation. Be seen as the leader in Sustainability and Nel Zero skills in the UK. Page112

NOCN (A Company limited by Guarantee) Trustees, Report (continu8d) For the Year Ended 31 July 2024 Have strong recognition as a skills organisation in Europe, Middle East, India Sub-continent, SE Asia. Continue lo operate from entry to L7. Maintain regulated qualification registration levels. Grow volumes in apprenticeships, assured courses, endorsed programmes, skills cards, short courses and ac¢rediled CPD (new). Have maximised the use oftechnology to support learners and employers. Have increased the number of people we help into employrnent and progression in work, ensuring we support people from diverse cultures and backgrounds. Be a great organis8tion for our customers and employees by embedding and progressing equity. diversity and inclusion. These objectives are driven by the context we operate in. our mission and values, the need lo mainlain our business in whal may be a difficult policy and economic conlexl for a number of years and the need lo develop new ways of working. structure, Governan¢e and Management Governlng Document and Structure The organisalion is a charitable company lirnited by guarantee incorporated on 18 August 1999. There were 12 trustees of the charity as al the end of 31 July 2024. In July 2017 NOCN India Skills Foundation was incorporated in India as a subsidiary of NOCN and is included as part of these consolidated sel of accounls. NOCN Job Cards was incorporated as a company limited by 9uaranlee on 22 October 2018 and was registered as a charity or$ 15 February 2019. NOCN Job CaTds is consolidated within NOCN Group given its articles give NOCN the right to appoint or terminate mernbers of the Board. NOCN is the sole member of NOCN Job Cards. Appointment of Trusteès As sel out in lh& revised Articles ol Association, the Group seeks and recruils Trustees who are drawn from a wide range of backgrounds, including industry sectors where the Group works. As al the end of 31 July 2024 there were 12 Trustees in post at the Group'5 Board. The chairs of the Board and the sub- committees are appoinled trustees. As at the 31 July 2024 there were 7 Iruslees in post al NOCN Job Cards Board. The Chair of the Board is an appointed Iruslee and was Vice Chair of the NOCN Group Board until July 2023 During 2023124 there were 6 appoinlmenls and 1 re5ignalion lo Ihe NOCN Board. Trustee posts are advertised. Applications are reviewed by the 8oard and where appropriate a shortlist established for interyiew. The Boaid makes the final appoinlment. Trustee Inductlon and Tralning When new Trustees join the Board, a formal briefing from the Chair and Group Chief Executive lakes place and they receive an induction pack. Trustees receive formal training on their responsibilities, including their legal obligations. Page113

NOCN IA Company limited by Guarantee) Trustees, Report (continued) For the Year Ended 31 July 2024 Statement of Regulatory Complianco All Awarding Organisalions are required to submit their formal slalemenl of compliance, under the General Conditions ol Recognition. published by Ofqual. This is a key governance document. which NOCN submitted to the 3 regulators of qualifications in the UK in January 2024. NOCN recorded Ihal il was compliant with the General Conditions of Recognition. Compliance wlth the Charity Governance Code The Trustees monitor the Group's compliance with the Charity Governance Code. the assessment of which was last updated in November 2024. It has been assessed that the Group continues lo be compliant with the Code. Organlsallonal Structure The Group's Board of Trustees meets at least quarterly wilh a full business agenda including a review of the Management Accounts and budget achievement for Ihe Group and each of ils subsidiaries. During the year the Group's Board was supported by sub-commillees, Group Audit & Risk Committee and Quality Assurance Committee. Each sub-committee meets be￿een 3 and 4 limes in the year and reports its a¢livilies and recommendations, al the Board meeting immediately following their own me8tlngs. The Board of Trustees delegates the management of the Charily lo the Group Chief Executive who undertakes these responsibilities through an Exe¢ulive Committee, which is comprised of the Group Chief Executive, Chief Operating Officer and all ol the Group Directors. and an Operations Group which is made up of the Executive Commiltee (except the Group Chief Executive) plus the Heads of Departments of the Group enlilies. Pay policy for senlof Staff All Trustees give of thelr lime freely and no director rec@ived rèmuneralioii iii the year. The pay of the Executive Committee is reviewed annually and nofmally increased in accordance with average earnings in line with the rest of the staff and market Gomparisons. Any changes lo the Executive Commiltee staff salaries have to be approved by the Board of Trustees. Details of Ihe Truslees and Executive Committee Telated party transactions are disclosed In Ihe notes to the accounts. Risk Management The Group operates a risk management poli¢y and strategy. The aims of the policy and slrale9y are to.. consider best practice in designing a risk management framewoik; encourage well-managed taking of risk lo deliver business obieclives; provide staff with policie5 and procedures necessary lo manage risk; embed risk management in the day-lo-day conduct of business., identify and priorilise risk using the risk management technology., regularly monitor risk at Group Chief Executive and Director Level. and achieve continuous improvement in risk management. Page114

NOCN IA Company limited by Guarantee) Trustees, Report (continued) For the Year Ended 31 July 2024 During the year the Group Audit & Risk Committee has routinely considered the Strategic Risk Register and examined specific areas of risk at the request of the Board and has overseen a review ol the register's formal and risks. The Strategic Risks are also reported lo the Board on a quarterly basis. The Strategi¢ Risk Register is also reviewed on a monthly basis by the Executive Commiltee. In addition, the Quality Assurance Committee has regularly considered issues of risk relating to NOCN'S status as a re¢ognised and regulated awarding organisation, within the context of being compliant with the General Conditions of Recognition. Trustees. responsibilities in relatlon to the financlal statements The Charity's Trustees (who are also the directors of NOCN for the purposes of company lawl are responsible for preparing the Trustees, Annual Reporl and Financial Statements in accordance wilh applicable law and regulatlons. Company law requires the Trustees lo prepare Financial Slaternenls for each financial year. Under that Saw the Trustees have elected to prepare the group and charily financial statements in accordance wilh United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable lawl. Under company law the trustees must not approve the financial slatemenls unless they are 5alisfied that they give a true and fair view of the slate of affairs of the group and charity and of the incoming resources and application of resources, including the income and expenditure, of the group for that period. In preparing the Financial Slatemenls, the Trustees are required to.. select suitable accounting policies and then apply them consistently. make judgements and accounting eslimales that are reasonable and prudent., slate whether applicable UK Accounting Standards have been followed. subject lo any material departures disclosed and explained in the financial slalements., and prepare the financial statements on the going concern basis unless il is inappropriate lo presume that the charity wlll contlnue in buslness. The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the charity's transactions and disclose with reasonable sccuracy at any lime the linancial position of Ihe charity and to enable them to ensure that the financial statements cornply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and the Group and hence taking reasonable steps for the prevention and detection of fraud and other irre9ularities. Gareth Jones (Chair) 5 De￿mber 2024 Page | 15

NOCN (A Company limited by Guarantee} Independent Auditor's Report to the Members of NOCN Group Opinion We have audited the ft'nancial slalement5 of NOCN (the'pafentcharilable company,) forthe yearended 31 July 2024 which comprlse the Consolidated Statement of Flnancial Activities, Ihe Consolldated statement of Financial Position, the Charily Statement of Financial Position, the Consolidated Statement of Cash Flows and notes lo the financial slatements. including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and Uniled Kingdom Accounting Siandards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in Ihe UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice}, In our opinion the financial slalemenls.. give a true and fair view of the slate of Ihe parent charitable company's affairs as at 31 July 2024 and application of resources, including ils income and expenditure, lor the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Pra¢ti¢e', and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audll of the linancial statements section of our report. We are independent of the group and parent charilable company in accordance with the ethical requirements that are relevant lo our audit of the financial slalements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilitl8s in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provlde a basls for our opinion. Conclusions relatSng io golng concern In auditing the financial statements. we have concluded Ihal the Iruslees. use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 8ased on the work we have performed, we have not identified any material uncertainties relating lo events or conditions that, individually or collectively, may cast significant doubt on the group and parent charitable company's ability lo continue a5 a going concern for a period of at least ￿e1ve months from when the financial statements are aulhorised for issue. Our responsibilities anij the responsibilities of the trustees with respect to going concern are described in the relevant Sections of this report. other informatlon The other informalion comprises the information included in the trustees annual report, other than the financial statements and our auditor's report Ihereon. 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, ex¢ept lo the extent otherwise explicitly stated in our report. we do not express any form of assurance Gonclusion Ihereon. Our responsibility Is to read the other information and. in doing so, consider whether the other information is materially inconsislenl with the financial statements or our knowledge obtained in the course of the audil or otherwise appears lo be materially misslated. If we identify such material inconsistencies or apparent material misstatements, we are Page116

NOCN {A Company limited by Guarantee) Independent Audltor's Report Icontinuedl to the Members of NOCN Group required lo determine whether this gives rise to a material misstatement in the financial statements Ihemselves. If, based on the work we have performed. we conclude Ihal there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinion on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the trustees, report lincorporaling the strategic report and the directors. report) for the financial year for which the financial slalements are prepared is consistent with the financial statements, and the trtjslees, report has been prepared in accordance with applicable legal requirements. Matters on whlch we are required to report by exceptlon In the light of the knowledge and understanding of the Charitable Company and ils environment obtained in the course of the audit. we have not identified material rnissiatemenls in the Strategic report and the Trustees, Report. We have nothing to report in respect of the following matters in relation lo which the Companies Act 2Q06 requires us to report to you if, in our opinion.. adequate accounting records have not been kept Of returns adequate for our audit have not been received from branches not visited by us., or the financial statements are not in agreement with the accounting records and returns. or ertain dis¢losure5 of direGlors' remuneration specified by law are not made., or we have not received all the information and explanations we require for our audll. Responslbllities of Trustees As explained more fLJlly in the Iruslees, responsibilities statement sel out on page 15-16, the Iruslees (who are also the directors of the charitable company for the purposes of company law) are responsible for the pieparation of the financial slalemenls and for being satisfied that they give a true and fair view, and for such internal control as the Iruslees determine is necessary lo enable the preparation of financial statements that are free from malerial misstatement, whether due lo fraud or error. In preparing the financial statements. Ihe Iruslees are responsible for assessing the charitable company's ability lo continue as a going concern. disclosing, as applicable. mallers related lo going concern and using Ihe going concern basis of accounting unless the Injslees either intend to liquidate the charitable company or to cease op8rations. or have no realistic allernalive but to do so. Auditors. responsibilities for the audit of the financial statemenls We have been appointed audilor under the Companies Act 2006 and report in accordance with this act. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due lo 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 (UK) will a￿ayS delecl a material misslatemenl when il exists. Misslalemenls can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of Ihese financial statements. Pagel 17

NOCN IA Company limited by Guarantee) Independent Auditor's Report {¢ontinuedl to the Members of NOCN Group Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, lo detect material misslalemenls in respect of irregularities, including fraud. Our approach to identifying and assessing the risks of material misstatement in respect of irregularilies. including fraud and non-complianGe with laws and regulations. was as follows.. .we identified the laws and regulalions applicable to the parenl charitable company Ihrough discussions with directors and other management, and from our commercial knowledge and experience of the industry. They key laws and regulations we identified were Charities Act 2011, Companies Acl 2006, Employrnenl legislalion and Ofqual regulations, we assessed the extent of cornpliance with the laws and regulations id8ntift.ed above through making enquiries of management and obtaining compliance certificates., and identified laws and regulations were cornmunicaled within the audit team regularly and the team remained alert to instances ol non-compliance throughout the audit. We assessed the susceptibility of the entity's financial statements to material misstalemenl, including obtaining an understanding of how fraud might occur, by.. making enquiries of management as lo where they considered there was SLrsceplibilily lo fraud, their knowledge of actual. suspected and alleged fraud., and considering the internal ¢onlrols in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we.. performed analytical procedures lo identify any unusual or unexpected r81ationships'. tested journal enlries lo identify unusual Iransacllons; and assessed whelherjudgemenls and assurnpiions made in determining the accounting eslimates were indicative of potential bias. In response lo the risk of irregularilies and non-compliance with laws and regulations. we designed procedures which included, but were not limited to.. agreeing finan¢ial 5talemenl disclosures lo underlying supporting documentation, and enquiring of management as lo actual and potential litigation and claims. Because ol the inherent limitations of an audit, there is a risk that we will not detect all irregvlarities, including those leading to a material misslatemenl in the financial statements or rson-compliance with regulalion. This Tisk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non<ompliance. The risk is also greater regarding irregularities occurring due lo fraud rather than error, as fraud involves intentional concealment, forgery, collusion. omission or misrepresentation. Page118

NOCN IA Company limited by Guarantee) Independent Audltor's Report (continued) to the Members of NOCN Group 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 mighl state to the charitable company's members those matters we are required lo stale to them in an auditor's report and for no other purpose. To the fullest exlent permilted 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. Simon Turner {Senior Slatulory Auditor) for and on behaSfof Armstrong Watson Audlt Limited Chartered Accountants Stalulory Auditor5 Norlhallerton Oale.. S December 2024 Page119

NOCN {A Company limited by Guarantee) Consolidated Statement of Flnancial Activltles Including the statement of comprehensive income For the Year Ended 31 July 2024 2024 Unrestrlcted Funds 2023 unrestr￿ted FuTrJs Note Incomlng r¢80ur¢g5 Grants and OopAlion5 Charitable aclivilies Total Incomlng re$ource$ 1,493 16,SOO.649 16,502.142 19,082,376 19,082.376 Resources expended Charitable activities Total re$ource8 expended 18,401,152 18,401.152 16,377.S14 16,377,514 Net movement In fund8 b¢f¢r¢ other gains l {losses> 681,224 124,628 other recognlsed galns I Ilossesl Net movement In funds aft•r other galns I Ilossg¥1 2S 681,224 124.628 Total funds brought forward 4.465,613 4,340.985 Total lund• carried forward 20 5,146,837 4,465.613 The notes on pages 24 10 41 form parl of these financial slalemenls. The incoming resources and resources expended derive from continuing operations. NOCN uses the exemption conferred by Section 408 of the Companies Act 2006 in not preparing a separate income and expenditure account for NOCN as a separate company The net surplus recorded by the parent company for the y8ar was £544,303 (2023-. nel surplus £85,790) Page120

NOCN IA Company limited by Guarantee) Consolidated Statement of Financial Position As at 31 July 2024 2024 2023 Unrestricted Unrestricted Funds Funds Notes Fixed asset5 Intangible assets Tangible assets Total fixed assets 4,128,S70 201,399 4,329.969 4,839.005 220,894 5,059,899 12 Currenl assets Debtors Stock Cash al bank and in hand Total current assets 14 15 24 2,888,060 30,335 1,880,622 4,799,017 2,598,058 30,829 1,396,503 4,025,390 Current liabllltlos Creditors.. Amounts falkn'ng due within one year Net current assets 1 liabilities 16 3,732,149 1,066,868 (4,069,676 {44,286) Total assets less current liab511tles Creditors.. Amounts falli due after more than one year 6,396,837 250,000 5,015,613 1550,0001 18 Net assets I Iliabllities) 5,146,837 4,465,613 Represented b General funds Total funds 20 5,146,837 5,146,837 4.465,613 4,465,613 The notes on pages 24 to 41 form parl of these financial slalemenls. All funds are unresliicled. The financial slalements were approved by the Board of Directors and authorised for issue on 5 December 2024 and were signed on its behalf by.. Gareth Jones Chair, NOCN Board of Trustees Page121

NOCN IA Company limited by Guarantee) Company Statement of Financial Position As at 31 July 2024 2024 2023 Unrestricted Unrestricted Funds Funds Notes Flxed assets Intangible assels Tangible assets Investments Total f Ixed a53et8 2,315,088 184,934 99 2 500,121 2.846,247 199,917 99 3,046,263 12 13 Current assets Debtors Stock Cash at bank and in hand Total current assets 14 15, 24 4,191,973 30,335 1536,079 5,758,387 3,989,323 30,829 1,122,290 5,142,442 Current liabilities Creditors.. Arnounls falling due within on8 Net current assets I Ilabilitles ear 16 3,489,868 2,268,519 3,664.368 1,478,074 Total assets less current liabilities Creditors.. Amounts falling due after more than one year Total net assets 4,768,640 1250,000 4,518,640 4,524,337 550.000 3,974,337 18 Represented by: General funds Total funds 20 4,518,640 4,S18,640 3,974,337 3,974,337 The notes on pages 24 to 41 form parl of these financial slalemenls. All funds are unrestricted. The financial statements were approved by the Board of Directors and authorised for issue on 5 December 2024 and were signed on its behalf by.. Gareth Jones Chair, NOCN Board of Trustees Page | 22

NOCN IA Company limited by Guarantee) Consolidated Statement of Cash Flows For the Year Ended 31 July 2024 2024 2023 Cash flows from operatin Nel cash provided b operali activltles activities 1,244,999 1,449,567 Cash flows from Inve8tSng acllvltle$ Purchase of Inta￿1￿le fixed assets Disposal ol fixed assets Payments made in respect of purchase of Cskills and CPCS Purchase of lan ible fixed assets Net cash used in investi aclivilies (481,127) 75,230 (310,727) 1750,000) 136,010) (1.096,737) 154,983 460,880 Cash flows from financin mènt of Bank Loan CharvJes in cash and cash equiva1enls in Ihe year activities 300,000 484,119 {300,000) 52,830 Cash aThY cash equivalents al the begimirvJ of the Cash and cash equivalents at the end of the year ear 1,396,503 1,880,622 1,343,673 1,396,503 Reconcillatlon ol nèt movement In funds before other gains l (losses) to net cash flow from l (used inl operating a¢tlvltles Net movement in furmls in ttre period as per the statement of linancial activities Adiustmenls for.. Depreciation & AtrKJrlisalion charges Disposal of fixed assets (Net) Reversal of previously capilalised asset Decrease l (Increase) in stock Decrease I lincreasel in debtors Decrease l i￿reaSe in creditors Net cash provided b operalin activities 681,224 124,628 1,253,038 175,230) 13,002 494 {290,0021 337,527 1,244,999 1,110,832 (10,653) {325,030) 549,790 1,449,567 The notes on pages 24 to 41 form part ol these financial statements. Page123

NOCN IA Company limited by Guarantee) Notes to the Financlal Statements For the Year End'ed 31 July 2024 Accounting Pollcies The following accounting policies have been applied consislenlly in dealing with items. which are considered material in relation to Ihe Charity s Financial Statements. Charitable company information NOCN is a charitable company, limited by guarantee and incorporated in England and Wales under the Companies Act 2006. The address oflhe registered office is given on Ihe'Reference and Administrative Details of the Charity. its Trustees and Advisers, pages and the nature of the charitable company's operations and ils prir)cipal activities are sel out in the Trustees, report. Basls ol preparatlon The Financial Statements have been prepared in accordance with Accounting and Reporting by ChaTities', Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland IFRS 102) (effective 1 January 2019} (Charities SORP IFRS 102>), the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Assets and liabilities are initially recognised al historical cost or transaction value unless otherwise slated in the relevanl accounting policy note{sl. NOCN meels the definition of a public benefit entity under FRS 102. Consolldatlon The Financial Slalements consolidate the Financial Statements of NOCN and all ils subsidiary undeTlakin95. The parent company has applied the exemption contained in section 408 of the Companies Act 2006 and has not Presented its Individual Statemenl of Financial Activities {SOFA) Preparation of the accounts on a going concern basis The Twslees have carried out a review of the Group's linancial performance and its reserves P051tion and believe that il has adequate financial resources and is well placed lo manage its business risks. The Group's business planning process, including financial projections, has taken into consideration the unGertainty within the current educational funding and qualification infraslruclure and ils potential impacl on Ihe sources of income and planned expenditure. In addilion, sensitivity analysis and stress lesling has been cairied out on the Group's SOFA and cash projections. The Tiuslees have assessed that the organisation has adequate resources lo continue in operational existence for al least 12 months from the dale of approval of the Financial Statemen15 based on these forecasts and analysis, Thus, they continue lo adopt the golng Concern basis of ac¢ounling in preparing the annual financial slalemenls. In assessing going concern of the Group al the date ol this report we have reviewed our forecasts for 2024125 and developed reasonable best and worst case income scenarios for 2024125 taking into account the likely external economic environment and other market factors. As part of the going concern assessment, we have looked al how much income would need lo drop over this period beyond our worst case income scenario assuming we take no action lo reduce Costs, such that we cannot meet all our liabilities as they fall due al any point. P8ge | 24

NOCN (A Company limited by Gu8ranteel Notes to the Financial Statements For the Year Ended 31 July 2024 The Board has reviewed the assessment and considers Ihat the Group remains a going concern and that the Group will continue to make sufficient surpluses in 2024125 and 2025126 to cover the Group's liabilities as they fall due. At 31 July 2024. and al the dale of thls report, the balance sheet and forward cash projections show that the Group can continue to meel ils all its obligations as they fall due over al least the next 12 months. In the event that the business is impacted by a significanl economic slowdown impacting on its income, then the business will lake prompl action to further fedu¢e its cost base lo ensure that it can still meet its obligations as they fall due. However. as noted in the Chair's Foreword, in light of the Board's decision lo merge Job Cards into the NOCN charity in 2024125. the trade and assets of NOCN Job Cards will be Iransfeired inlo the parent company of the Group, NOCN, in the financial year 2024125. As a result, Job Cards as a legal enlily will cease trading and hold no assets by the end 012024125. The financial statements of2023124 for NOCN Job Cards have therefore been prepared on a ba51s other than going concern. No adjustments were requlred as a result ofpreparing the accounts on a basis other than going concern. The services delivered by the subsidiary will continue to operate post the merger with NOCN. NOCN Job Cards legal entity will continue lo trade as normal until the merger with NOCN lakes place in 2024125. It Is the intention of the Trustees lo dissolve NOCN Job Cards soon after. Llablllty of Member8 The Charily is a company limited by guarantee. In the event of the Charity being wound up, Ihe liability of the members is limited lo a sum not exceeding £1.00, being the amount that each member undertakes lo contribute lo the assets of the Charity in the event of ils being wound up while he, she or it is a member or within one year after he, she or il ceases to be a member, for.. payment of the Group's debts and liabilities incurred before he, she or il ceases to be a member. payment of the costs, charges and expenses ofwinding up; and adjuslmenl of the rights of the contribulories among themselves. Incomlng Rèsovrces Incoming resources primarily comprise.. Learner Registration charges, Delivery Partner Annual Fees, online card and lest assessment fees, delivery of a wide range of endorsed programmes and Apprenticeship End Point Assessment fees. All income is recognised once the Group has enlillement to the income. il is probable that the income will be received and the amount of income receivable can be measured reliably. The Group's income streams are recognised as follows.. delivery Partner Fees are recognised in full in the year Ihe service is provided.. learner registfalion charges are recognised at the time of registration., replacement certificate income 15 recogni5ed al point of request and in advance of ￿lease of certificate., apprenticeship End point assessment fees are recognised as follows.. Initial up-front charge is recognised when the apprentice is registered with NOCN. The remaining charge is recognised al the point Ihe assessment lakes place. Card and associated test fees are recognised at Ihe point of bookinglprocessing. Page125

NOCN (A Company'limited by Guarantee) Notes to the Financial Statements For the Year Ended 31 July 2024 Income is classed as unrestricted unless there is a contractual requirement for il to be spent on particular purpose and returned if unspent, in which case it may be regarded as restricted. Foreign Currencies Foreign currency Iransaclions, monetary assets and liabilities denominated in foreign currencies are translated al the exchange rale ruling al the reporting dale, with gains or losses being taken lo the Statement of Financial Activities. NOCN group is exposed to transactions in Indian Rupees, Euro and Sterling Pounds (functional currencies). However, all financial statements use Sterling Pounds as the presentation Currency. Financial Instruments The Group only enters into basic financial inslfumenls transactions that result in the recognitlon ol financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans lo related parties and inveslmenls in non-putlable ordinary shares. Financial assets Ihat ar8 measured atC05tand amortised cost are assessed at the end ofèach reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment Ios5 is recognis8d in the Slalemenl of Financial Aclivilies. For financial assets measured at amorlised cost, the impairment loss is measured as the difference behveen an asset's carrying amount and the present value of eslimaled cash flows discounted al the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rale for measuring any impairment loss is the currenl effective interest rale determined under the contract. For financial assets measured al cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount. which is an approximalion of Ihe amount that Ihe Company would receive for the asset if il We￿ lo be sold at the reporting date. Financial assets and liabilities are offset and the nel amounl reported in the Slalemenl of Financial Position when there is an enforceable righl lo set off the recognised amounts and there is an intention to settle on a nel basis or to realise the asset and settle the liability simultaneously. Resources Expended Resources expended are recognised on an accruals basis. Resources expended include atlribulable Value Added Tax which cannot be recovered. Resources expended are allocated to the particular activity where the cosl relates directly to that activity. Chafilable expenditure comprises those costs incurred by the Group in the delivery of ils activities and services for its beneliciaries. 11 includes both costs that can be allocated directly lo such activities and those costs of an indirect nature necessary to support them. Governance costs include those costs associated with meeting the constitutional and slalutory requirements of the Group and include the audit fees and costs linked lo the strategi¢ management of the Group. Judgements in Applying Accounting Policies and Key Sources of Estimation Uncertainty The preparation of Financial Slalemenls in compliance with FRS 102 requires the use of certain critical accounting eslimales The items in the Financial Statements where these judgements and eslimales have been made include.. Page | 26

NOCN IA Company limited by Guarantee) Notes to the Financial Statements For the Year Ended 31 July 2024 Tanglbl¢ Flxed Assets and Depreclatlon Tangible assets are included al cost less a¢cumulaled depreciation, Depreciation is charged so as to write off the cost or valuation of assels ovef their estimated useful economic lives, using the straight line method as follows.. Computer equipment rates varying from 200h to 33.30/0 per annum Fixtures and fittings 101 per annum All tangible fixed assets costing over £1,000 are capilalised on acquisition and are included in the balance sheet al cosl. The estimated useful economic lives and depreciation method are reviewed al each year end. Intangible Fixed Assets and Amortisation Intan9ible assets are measured at cost less accumulated amorlisation and any accumulated impairrnent losses. Purchased goodwill is recognised at the cost of acquisition less the on balance sheet assets purchased. Software development costs are re¢ognised as an intangible asset when all of the following criteria are demonslraled.. The technical feasibility of completing the software so that il will be available for use or sale, The intention to complete the software and use or sell it. The ability to use the software or to sell it. How the soltsvare wlll generate probable lulure economic benefits. The availability of adequate technical, financial and other resources lo complete the development and to use or sell the SO￿are. The abilily lo measure reliably the expenditure attributable to the So￿are during its development. Amortisalion is charged so as lo allocate the cosl of intangibles less their residual values over their estimated useful lives. using the straight-line method. The intangible assets are amortised over the following useful economic lives.. so1￿3re development costs S years Goodwill 10 years If there is an indication that there has been a significant change in amortisalion rate or residual value of an asset, the amortisation of that asset is revised prospectively lo rellect the new expectations. If the net fair value of the idenliflable assets and liabilities acquired ex¢e8ds the c05t of a business combination, the excess up to the fairvalue of non-monetary assets acquired is recognised in the SOFA {Slalemenl of Financial Aclivilies) in the periods in which the non-monelary assets are recovered. Any excess exceeding the fair value of non-monelary assets acquired is recognised in the statement of financial activities in the periods expected lo be benefilled. Page | 27

NOCN IA Company limited by Guarantee} Notes to the Financial Statements For the Year Ended 31 July 2024 Stocks stocks are staled at Ihe lower of cost and nel realisable value being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first oul basis. At each reporting dale, inventories are assessed for irnpairment. If inventory Is irnpaired, the carrying amount is redU￿d to its selling price less costs to Cotnplete and sell. The impairment loss is recognised immediately in the Slalement of Financial Activities. Annual Support Fee Provision NOCN charges an annual centre support fee for which invoices are raised on the anniversary the customer became an NOCN cenlre. The invoiced income, where appropriate, is deferred to the following financial year to reflect when the suppoit will take place. Taxation As a registered Charity, NOCN is exempl from liability lo corporation tax on income and gains fallin9 within section 505 of the Taxes Act 1988 or S256 of the Taxation of Charitable Gains Act 1992 to the extent that these are applied to its charitable objects. No provision or charges for taxation have therefore arisen. Pensions For NOCN and NOCN Job Cards, the pension costs charged in the Financial Statements represent the contributions payable by the Charity during the year. Leased Assets Operating lease costs are charged on a slraighl-line basis over the term of the lease. Fund A¢counting Reslrieled funds are lo be used for specific purposes as laid down by the donor. Expenditure which meels this criteTion is chaTged to the fund, logelher with a fair allocation of management and support Costs. Unreslricled funds comprise those funds, which the Trustees are free to use in accordance with the objects of the Charity. Designated lunds are unrestricted funds, which have been allocated for specilic purposes by the Trustees. Page128

NOCN IA Company limited by Guarantee) Notes to the Financial Statements For the Year Ended 31 July 2024 Notes to the Account5 1. Incoming resources frorn government grants 2024 2023 Government Furlough Funds Toial 1.493 1.493 2. In¢omlng resources from ¢harltable activltlg8 Unrestricted funds 2024 Total lunds 2024 Total funds 2023 Awarding Orgarwsalion & EThJ Point Assessment NOCN Job Cards ICPCS & CISRSI NOCN India Skills Foundation To181 14,983,941 3,804.383 294,OS2 19 082 376 14,983.941 3,804.383 294,052 19 082,376 12,640.091 3,894.428 166.130 16.500.649 All incomè from charitable activities in the prior period was unreslri¢ted. 3. Analysis of resource expended on charitable a¢tlvitles summary by fund type Unrestrlcted 'funds 2024 Total fund8 2024 Total fund8 2023 Awaiding Organlsallon & E￿1 Point Assessment Governance NOCN Job Cards (CPCS & CISRSI NOCN lrnlia Skill. Found81ion Deplecialion & Amortisallon Total 13,915,611 298,348 2.810,493 123,662 1,253.038 18 401,152 13,915.611 298.348 2,810.493 123,662 1,253,03B 18 401.152 12,2SO.016 262,619 2,604.731 149,316 1.110,832 16,377,514 All resource expended from charitable activities in the prior period was unrestricted. 4. Total resources expended Actlvbtifrs undertaken dlrectly Support costs 2024 Awar(ling Organisalion 8 End Polnt Assessment Governance NOCN Job Cards ICPCS & CISRSI NOCN India Skills Foundalion De recialKJn & AmrtisalSon Tolal 11,296,073 2,619,538 298,348 139,802 13,915.611 298.348 2,810,493 123.662 1,253,038 18,401.152 2.670,691 123,662 1 253,038 4,310,726 14.090,426 Page129

NOCN IA Company limited by Gu8ranteel Notes to the Financial Statements For the Year Ended 31 Jul 2024 AclNilies derlaken dlreclly sL￿port costs 2023 Awarding Orgarisalion & End Point Assessment Govtsrnance NOCN Job Cards ICPCS & CISRSI NOCN India Skills F0th￿all0￿ recialion & Amorlisalion Total 9,769.812 2.480.204 262.619 134,024 12,2SO.016 262.619 2,604,731 149,316 1.110,832 16.377.514 2.470.707 149.316 1,110,832 3 987 679 12 389,835 Allocations have been made on the following basis.. Governance costs are made up of the e51imated lime spent by the Executive Committee on group governance plus other direct governance costs. S. Governance 2024 2023 Meeting costs Expenses pa￿ lo Trusl888 Legal Cosls Internal audil fees External audil fees Mana emenl costs Total 20.073 1,156 14,901 9,800 24,500 227 918 298,348 21,812 21,343 14,700 22,750 182,014 262,619 6. Net Incomlng resources 2024 2023 Nel irwmi Depreciation Amoilisalion Exlernal audil fee5 operaling lease in respect of buildings eralin lease in respe¢l of e ment aTra cars resources foi year are arrived al alier chai ing.. 74,478 1,178,560 24,500 338,169 14,540 64.782 1.046,050 22.750 363.842 17,181 7. Employee numbers and costs 2024 2023 Staff Wages a￿$ salaiies Social 5e¢urily cos15 Pension costs Total 7,322,785 749,975 548,333 8 621,093 6.895,216 660.531 506,017 8,061,764 Page130

NOCN (Acompany limited by Guarantee) Notes to the Financial Statements For the Year Ended 31 July 2024 The number of employees whose emoluments as defined for taxation purposes amount lo £60.000 or more in the year was as follows.. 2024 Number 2023 Number Staff £60,000 10 £69,999 £70,000 10 £79.999 £80.000 10 £89,999 £90,000 10 £99,999 £100.000 10 £109,999 £110,000 10 £119.999 £12D,000 10 £129,999 £220,000 10 £229,999 £240,000 10 £249.999 In respecl of the above employees, employer pension contributions paid to a defined contribution pension scheme durin9 the year were £108,44012023.' £99,172) Staff The average nurnber of peisons employed analysed by function was.. 2024 Number 140 42 181 2023 mber 123 48 171 Charilable activities Mana ement aThJ administration of the charil Total Contingent workers The average number of Contingent Workers, calculated on a basis of number working In e month on average over the year, analysed by function was: 2024 Number 136 136 2023 Jmber 119 119 Charitable activities Total Ouring the financial year the Group incurred Organisalional Change costs of £154,379 12023: £105,624). This includes statutory redundancy pay, payment in lieu ol notice and other miscellaneous 0Sts. Group policy for organisalional rhange is documented fully and is available on-line lo all staff. The objective of the policy is lo en5Ufe that unavoidable redundancies are handled in a fair, consislenl, timely and non-discriminatory way. Page | 31

NOCN IA Company limited by Guarantee) Notes to the Financial Statements For the Year Ended 31 July 2024 8. Trustee remuneration Group 2024 2023 Travel and subsister￿e Total 1,156 1,156 Company No remuneration or expenses were claimed by the trustees in the last 2 financial years. 9. Audit remuneratlon 2024 2023 Extefnal aLx1il of Group I Parent company Extern81 atxlil ol NDCN Job Cards s￿sid18r Total 17,000 7,500 24.500 16.000 6,750 22.750 10. Net Income l Expendlture attributable to members of the parent cornpany The net surplus dealt wilh in the financial statements of Ihe parent company wa5 £544,30312023'. £85,790). This is all unrestricted funds. Page | 32

NOCN IA Company limited by Guarantee) Notes to the Financial Statements For the Y8ar Ended 31 July 2024 11. Intanglble flxed assets Soflwaro Goodwill - sof￿are Goodwill - development Cskills development cpcs NOCN Job NOCN Job Cards Cards Group Total NOCN NOCN Cost I valuatlon At beginning of year Additions Dis 05als At end of 764.459 6.021,789 236,036 7S,230 925,265 6,021,789 422,878 3,289,659 10.498,78S 245,091 481,127 75.2301 667,969 3,289 659 1LI.904,682 ear Depreciatlon Al be9iMing of year Charge for the year Dis osals At end of 329,861 3,610,140 152,014 602,179 62,228 419,64r 4.212,319 136,479 1,583,300 95.402 328,965 5.6S9,780 1,178,560 62.228 ,776.112 ear 231.881 1,912 265 Net book value at 31 July 2024 505,618 1,809,470 436,088 1,377,394 4,128,570 Nel book value al 31 Jul 2023 434,598 2,411,649 286,399 1,706,359 4,839,005 Software development Goodwlll Cskll Company Total Cost I valuatlon Al begiming ol year Addit￿nS Disposals At end of 764.459 236,036 75,230 925.285 6,021,789 6,786.248 236,036 75,230 6,947,054 ear 6.021,789 Dfjprèclallon Al beginning of year Charge lor IIR year Disposals At end of 329,861 1S2,014 162,228 419,647 3,610,140 602,179 3,940.001 754,193 62,228 4 631966 ear 4,212,319 Net book value at 31 Jul 2024 505,618 1,809,470 2,315,088 Nel book value al 31 Ju 2023 434,598 2,411,649 2,846,247 P8ge133

NOCN IA Company limited by Gu8ranteel Notes to the Financial Statements For the Year Ended 31 July 2024 12. Tangible fixèd assets Cornput•r equipment Fixtures and flttings Group Total Co81 I valuatlon Al beglnrung of year Addition5 Disposals At end of 341,457 53,309 237.774 156,992 387,511 1,874 69,262 319.923 728.968 54,983 307,036 476 916 ear Depreciation Al begiMw)y of year Charge for the yeaf Dis osa15 At end ol 278,236 42,514 237,774 229,838 31,964 508,074 74,478 307 036 275 516 ear 192,S40 Nel book value at 31 Jul 2024 74,016 127,383 201,399 I book valu8 al 31 Jul 2023 83,221 1 S7,673 220,894 Computer equipment Fixtures and fltilngs Company Tot41 Cost I valuatlon Al beginning of year Addllions Disposals Al end of 319,111 53,309 237.774 134,646 355,468 1,874 89,262 287,8BO 674,579 54,983 3D7,036 422 526 ar Depreelatlon Al boginniNJ of year Charge for thè year Dis OS31s At end of 257,199 41,205 237,774 60,630 217,463 28,761 69,262 176 962 474,662 69,966 307,036 237,592 ear Net book Value at 31 Jul 2024 74,016 110,918 184.934 Nel book value al 31 Ju 2023 61,912 138,005 199917 Page | 34

NOCN (A Company limlted by Guarantee) Notes to the Financial Statements For the Year Ended 31 July 2024 13. Fixed asset Investment Company 2024 2023 Cost Al beginning of year Additions At end of 99 ear 99 99 On 16 June 2017 NOCN acquired 990A of the share capilal of NOCN India Skills Foundation for a consideration of £99. Subsidiary Undertaklngs The following were subsidiary undertakings of NOCN.. Namè NOCN Irdia Skills Fo￿￿8110n NOCN Job Cards Incor INlia oratlon Class of Share8 Holdln Ordinary 990/ ￿A Majorily VoliTrJ Righls Control Note on NOCN India Skills Foundation.. The aggregate of the share capital and reseNes as al 31 July 2024 and of the profil or loss for the year ended on Ihal dale for this subsidiary undertaking were as follows.. Aggregate of share capital and reserves Profit I (Loss) 3CN Irdia Skills FO￿￿allOn 177.447 154.860 The registered office of the above subsidiary undertakings is House No. M-27, M- Block Market, Greater Kailash-l, New Delhi, South Delhi, Delhi. 14. Debtors Group 2024 2023 Trade debtors Pre ments aThY acciued income Total 2,592,976 295.084 2,888,060 2,255,556 342,502 2.598,058 Company 2024 2023 Trade deblor5 Prepayments and accrued Income Inlercompany debtors Tolal 1,935,764 251,419 2,004,790 4,191,973 1,749.829 221,257 2.018,437 3.989,323 The intercompany debtors are interest free and repayable orb demand. NOCN has committed lo continue the inlercompany loan to NOCN Job Cards until 31 July 2025. Page | 35

NOCN IA Company limited by Guarantee) Notes to the Flnancial Statements For the Year Ended 31 July 2024 15. Stock Group 2024 2023 Al beginning of year Pufchased in the year Char ed in the year Ai end of the ear 30,829 30,335 130,829 30,33S 20,176 30,829 120.176) 30,829 Company 2024 2023 Al beglnning of year Purchased in year Charged in the ear Al ènd of ihe 30,829 30,335 30,829 30,335 16.692 30,829 16,6921 30,829 eaT 16. Creditors- amounts falllng due within one year Group 2024 2023 Trade ciedilors Accruals Oelerred income - see nolo 17 Taxes aNI social security Coronavirus Business Interruption Loan {CBILSI Other ciedilor$ Total 692,395 564,101 1,209,829 730,923 300,000 234,901 3 732,149 501,709 602,406 1.238,074 735.447 300,￿0 692,040 4,069,676 CoTnpany 2024 2023 Trade credilois Accruals Deferred Income - see nDlts 17 Taxes and social security Coronawrvs BUSI￿$5 Inleriuplion Loan {CBILS) Other creditors Total 580,194 433,922 1.209,829 730,923 300,000 235 000 3,489 868 417.798 378,028 1,238,074 732,947 300,000 597.521 3.664,368 17.Deferred Income Group 2024 2023 Al beglnning of year Released in the ye•r Added in Ihe ear At end of the 1,238,074 11.238,0741 1,209.829 1,209,829 746,947 1746,947) 1.238,074 1.238,074 oar Company 2024 2023 At beginning of year Released in the year Added in the ear At end of the 1,238,074 11,238,074 1,209,829 1 209,829 746,947 1748.947) 1.238,074 1.238,074 ear Page136

NOCN IA Company limited by Guarantee) Notes to the Financial Statements For the Year Ended 31 July 2024 Annual centre fees and similar charges that are invoiced in advance are deferred to correspond with the period of Se￿iCe provided. End point assessment fees invoiced prior lo year-end are deferred where the assessmenl has yel lo lake place al year-end. 18. Credltors - amounts falling due after more than one year Group 2024 2023 Coronavirus Business Interf Total lion Loan CBILS 250,000 250,000 5SO.000 550,000 Company 2024 2023 Coronaviru5 BLK%iress Inlerruplion Loan ICBILS Total 250,000 250,000 550,000 550,000 The CBILS loan incurs interest at 1.889/0 oiler base rate and is repayable in equal monthly Inslalments over 72 months, commencing May 2021, 19. Analysis of net assets between funds Group 2024 Unrestricted Funds 2023 Lknreslricled FU￿1$ Inta￿1ble lixed assets T8r@ible fixed 8ssel8 Current os5els Cuffenl liabilities due in lèss than on8 year Liabilities due aller mor8 Ihan one eai Net Assets 4,128,570 201,399 4,799,017 13,732,149} 250,000 5,146,837 4,839,005 220.894 4,025,390 14,069,676) 550.000 4,465.613 Company 2024 Unrestricted Funds 2023 Unreslricled FuTrJs Intangible fixed assets Tangible fixed 855els Irweslmenls Current assets Current liabilities dl￿ in less than one year Liabililie5 due afler more than one ear Nèt A8sets 2,315,088 184,934 99 5,758.387 13,489.868} 250.000 4,518,640 2,846,247 199,917 99 5,142.442 (3,664.3681 550,000 3.974.337 20. Statement of funds At 31 July 2023 Incoming regourceg Outgoing resources Gains I losses At 31 July 2024 Group General funds Total unrestrlcted funds 4,465,613 4,465,613 19.082,376 19,082,376 18.401. 152 18,401,152 5.146.837 5, 146,837 At 31 July 2023 Incoming resour¢es Outgoing resources Gainsl losses At 31 July 2024 Company Genew81 Total unrestricted funds 3.974,337 3.974.337 14,983.941 14.439,638 14.983.941 114,439.6381 4 518,640 4,518,640 Page137

NOCN IA Company limited by Guarantee} Notes to the Financial Statements For the Year Ended 31 July 2024 21. Financial Commitments Group 2024 2023 8uildlng$'. Wlhin one year Belween two and fnie year$ Equipment: Within one year Belween two and INe years 338,169 825,073 363,842 1,264,045 14,540 89 17,181 14,578 Company 2024 2023 Buildlngs.. Ihin one year Belween two and Ilve years Equipment.. Within ore yeaf Between two and live 297,964 781,454 323,637 1,180,111 7,822 89 9,345 7,849 ears 22. Cash flows from investlng activities Purchase of lan9ible fixed assets: During the year the Group acquired tangible fixed assets with the aggregate cost £54,98312023'. £36,010). Cash payments were made totalling £54,98312023. £36,010) to purchase the equipment. Purchase of intangible fixed assets.. During the year the Group acquired intangible lixed assels wllh the aggregate cost £481.127 (2023.. £310,727). Cash payments tolalling £481,127 {2023.' £310,727) was paid in the year for Ihe software developed. Paymenls made in respect of purchase ol Cskills and CPCS.. Cash payments were made lolalling £Nil {2023.' £Nil} towards sellling the Cskills purchase liability with CITB. Cash payments were made lotalling £Nil12023. £750,000} towards settling the CPCS purchase liability with CITB. Page | 38

NOCN {A Company limited by Guarantee) Notes to the Financial Statements For the Year Ended 31 July 2024 23. Related Party Transactions 2024 2024 2024 Amount due fromlltol at the year end Incomè Purehaseg OCN Northern Ireland Br5118h Ass'n Consliucllon Heads Barnsley College Maggie Hasling-Ev8ns BAM Nutlall Access Training Easl midlar￿S Ltd constr￿tIC>n Plant Hire Association Conslruclion Ind￿try Scallold¢r$ Record Schen ITS Group LearniThJ al Work Inslilulé Leeds College ol Buildirg, Bedford College, TUC, Parlnor last Amelia Renny NRC Semces Ltd 32,625 5,123 60,067 1.387 400 140,163 3,956 11,723 1,800 397,181 {33,408) 1,354 38,OC 14,155 222,837 19,867 1,126 16,368 17,625 1,440 570 15 18 2023 2023 2023 Amount due frOr￿{lO) al the year er Income Purchases OCN Northern IreLqnd' British Ass'n Conslrwlion Heads 8afnsley College Maggle Hasling-Evans BAM Nutlall Access Tralnlng East Mldlands Ll¢J Conslruclton Plant Hire Associalion7 Construction Industry Scaffolders Record Sc￿rne ITS Gro LearrurvJ al Work Inslllule Leeds Colle9e of Bvilding 8e(Jlord College 12 TUC, Partner fast Amelia Renny NRC Serwces Ltd Credil Services Association 36,250 7,106 49,701 3,581 200 154.152 4,110 21,701 3.000 303,290 {1,2001 135,3381 1,618 io 38,000 112.6001 980 13,029 5.295 131,781 18.743 14 270 515 1r 120 Page139

NOCN IA Company limited by Guarantee) Notes to the Financial Statements For the Year Endèd 31 July 2024 1 Transactions with OCN Northern Ireland Gonsisl of annual Licence fee income and occasional purchases, OCN Noithern Ireland was a member of Ihe Charity during the year. 2 Transa¢tions with 8ACH represent membership body fees. Graham Hasting-Evans is President of BACH. 3 Transactions with Barnsley College represent learner registration and certification income. Kay Dickinson is a Trustee of Barnsley College, 4 Maggie Hasling-Evans - Flight costs paid for by NOCN in lieu of fee paid in respect ofwork carried out on behalf of NOCN Group by Maggie in Gree¢e and India. S Transactions with BAM Nullall represent learner registration, certification fees and CPCS cards. Tlmothy Biownbridge is an Academy Manager at 8AM Nullall 8 Transactions with Access Training represent learner registralion and certification fees. Corrina Hembury is a Managing Director al Access Training. P Transactions with Construction Plant Hire Association relate to the Issue of Job Cards. Kevin Minton is a member of the CPA (Resigned December 22). Tr3n5aclions with Construction Industry Ècaffolders Record Scheme in felation lo the Card processing Income. 9 Transactions with ITS Group represent learner registration and certification income. ITS Group is a trading Subsidiary of Barnsley College. Kay Dickinson is a Trustee of Barnsley College. 10 Transactions with Learning al Work Inslilule represent Feslival and Annual research cost. Stephen Evans is a membef of Ihe Learning and Work Institute. 11 Transactions with Leeds College of Building learner regislralion and certificatlon income. Nicola Davis is a mp.mber of the Leeds Colle9e of Building. 1? Tiansaclions with Bedford College learner registration and certification income. Dave Wilkins is a member of the Bedford College 13 Transactions with TUC registration and certification income. Adrian Toomey is a member of the TUC. 14 Transactions with Parlnerfasl relate to Construction Industry consultancy Alison Duckles (nee Lamplough) is a Director of Parlnerlast. IS Transactions with Amelia Renny relate lo e-learning development. Amelia Renny is related to Simon Renny who is an Executive Dir8clor ol NOCN, 16 Transactions with NRC Services Itd relate to Electrical professional services. Louise Allen is related to a director al NRC Services Ild. 17 Transactions with Credit Services Association relate to learner Invigilalion charges. Fiona Macaskill who is the Head of Learning & Development al the CSA (Resigned 30 May 2023). Page140

NOCN IA Company limited by Guarantee) Notes to the Financial Statements For the Year Ended 31 July 2024 24. Analysls of cash and cash equivalents The Group cash and cash equivalents included in the statement of cash flows comprise the folk)wing.' 2024 2023 Cash ai bank Total 1 880,622 1,880,622 1.398,503 1,396,503 The Company cash and Gash equivalents amount lo £1,536,079 in 2024 {£1,122.290 in 2023). 25. Operating surplu81(deficit} to N8t movement In funds after other gainslllos8es> reconciliation A Te¢oncilialion of the operatin9 surpluslldelicil) lo the Net movement in funds after other galnsl Ilossesl in the Slalement of Financial Activity is a follows.. 2024 2023 eratin sur lusl deficit Depreciation a Amortisalion Net movement in funds after other 1 934,262 1,253.038 681,224 1,235,460 11.110,8321 124,628 ains I IoBses 26. Analysls ol Net Debt At 1 Auguli 2023 Mov*m•nt In year At 31 July 2024 Group Cash al bank arKI In haTr Bank Loan (Legs than 12 months) Bank Loan {Moie than 12 months} 1,396,503 1300,000) 550 000 546,503 484,119 1,880,622 (300,￿0) 250,000 1330,622 300,000 784119 Al 1 Augu8t 2023 Movem•nt In year At 31 July 2024 Company Cash al bank ond in hand Bank Loan (Less than 12 monlhsl Bank Loan (More Ihan 12 months) 1,122,290 1300,000) 550,000 272,290 413.789 1,538,079 1300,000) 250,000 986 079 300,000 713.789 Page141