Company reglstration number. 03829217 Charity number.. 1079785 nocn GROUP NOCN IA Company limiie¢J by guarantee) Trustee. Re[￿ and Consolidated Financial Slaterrents For ihe yeai ended 31 July 2025 11111 'AE+tIYSL5• 22112r2025 C￿ANIEs H(￿lSE #196 NOCN IA Cofflpany limited by Guaianteel Contents Page Reference and Administralive Delai15 of the Chaflty. Trts Tru$tee$ and Advisers Chair's Foreword Truslees, Report lincluding Slrategic Report) 5-16 Independent Auditor's Report on the Financial Staterntnts 17-20 Consolidated Staiemeni of Financial A¢iivities 21 Consolidated Balance Sheet 22 Company Balance Sheet 23 Consolidated Statement ol Cash Flows 24 Notes to the Financial Statements 25-42 NOCN IA Company Limitecl by Guaranieel Refèrence and Administrative Details of the Charity. lis Trnstees and Advisers For the Year Ended 31 Jul 2025 Director and Trustees The Trustees of NOCN. who were also Compafty 01￿cto￿ for the purposes of Company Law. serving dLtrring the year and since the yeafond are as follows". NOCN TrustÈÈs' and Difecttsrs: Chair DavNI Gaieth Jones IRelired 29 April 20251 IApptynle(J 29 April 20251 (Appoinled 31 October 20241 Chair Simon Pefryman Sirnn Perrymart Corrina Hembury Adrian Toomey Lucy Hunle Siephen Evans Day￿ Wlkins Chair Designate Vice Chair Trustee5 IResuned 8 Octobef 2024) Mark Froud Deborah Haworth Oarryn Hedges Hannah HornE IRes4gned 11 Mar¢h 20251 Sylvia Ashton Mark Scott (Resigned 24 January 20251 IResi9ned 23 December 2024) (Appointed l April 20251 ritN)*hy 8rownbridge (Appointed J Apnl 202SI Kay Dickinson (Ap￿Inted 1 April 20251 Michaela Wain (Appointed S June 20251 Paul Allman Secrerary NOCN Job Cards Truslees. and Oirettors= Sarah Siandeven Chatr iw D￿kIeS C8E (Resigned 31 March 20251 Gfaham HasliThg-E¥ans Carl Hassell PaLJI Allman {Resigned 31 March 20251 fimothy Browr7bridge {Re&gned 31 March 2025) Kay DKkinson Detorah Haworth NOCN India Skills Foundation Oirtctors: Director Graham Hasting-Evans Dr Sunil Abrol Pagell NOCN IA Company limited by Guarantee) Relerencè and Administrative 0￿•115 of the Charity, its trustees and Advisers For the Year Ended 31 July 202$ Icontinuedl Key Management Personnel- NOCN Group Exe¢ulive Committee in 24125- Graham Hasting-Evans- Group Chief EMectJlNe Call Hassell - Group Chief Operating Officer - from 74 October 2024 Cafl Hassell - Group Dire¢i¢y lJob Cartjsl - Ltntil 13 October 2024 Simon Renny - Group Direcloi (Reseafth and Slralegyl- fvom 1 August 2024 Paul Johnson - Group E)"reclor (Awarding OrganisalK*nl Gareth CLtrtts - Gioup Director (D￿1￿1 Delivery and Irrorovementl - until 3 June 2025 Sohil Zokari - Group Diieclor (Finance) - from S December 2024, Interim Group Director (Digital Oelivery and Improvement) - until 31 July 2025 Steve Thompson - Group Director Iskillsl - fiom l January 2025 Rachel Hobson - Group Director Icusiomer Sery￿e and Opeialb)nsl - from 7 November 2025 Referèncè and administrative deiails.. Charity number.. NOCN 1079785 Company number.. NOCN RegisÉered office.. NOCN D3829217 A￿r0 Bullding 1 Concourse Way Sheaf Street She(field. Sl 28J Ouf Advisers.. Bank National Westminster Bank PIC 7 Market Place Derby. OE1 90S SO1￿110r5 Andrew Holtsnd Law Limtted Suiie 2. The Bakery Millenium Business Pa Sleeton, Keighley West Yorkshire, 8020 6RB Audilors mstfong Watson Audil Limited Thofnfield 8usiness Park Northallerton. OL6 2XQ Page12 NOCN IA Company limited by Guarantee) Chair's Foreword Forthe Year Ended 31 Juty 2025 l am pleased lo presenl the NOCN Group Annual Report and Accwnts foi 2024125. Whilst our Group aclivilie5 are guKled and driven by our charitable objectNes. It is essential to sustainin9 and enhancing those objectives Ihat. year on year. we deliver a financial pertomance Ihat underpins the Grovp's viability and provides lunds for fvture investment and development lor our beneficiaries. l am the￿fore pleased 10 rep)rt a stron9 financkal position for Ihe year, with total reserves increasing Irom £5.) million 10 £5.6 million and an operating svrplus standing al £1.8 million. Our cash position remains healthy. and Ihe Group conlinues ¢0 operate within its ieserves policy range, ensuring resilience and capacity lor Future growlh. These results reflect the s1rateg￿ and operational disciplines embedded In the Group and our consistent focus on core competencies as a global charity delivering tuture-fit skills solvtions. Key strategi¢ highlights In¢lude'. Qualification Refomi and Expansion- Despite on90ing government reforms. NOCN Awarding Organisalton 5uccessfulty prepared nine new vocation31 qualilicabons lor launch In 2025126. covering key Construciion tiades aligned to natronal housing and infrasiFUCture priorities. Alongside this, we developed 28 new qualifications. 25 assured courses. and approved 177 endorsed programmes. maintaining a ponfolK) of over 5(Kl qvalilicalions. Di9ltal Innovation and Al Integratian.. We launche¢J our first fully online qualificalion and aclvanced the use ol Al lo accelerate product ¢Jevek)pment and enhance remte invigilalion. Trials lor Al-assisted marking are underway with Taia Consullary Servces. SUppo￿A9 efficiency without compromi51ng quality. Leadership in Green Skills." ThroLwh our Chief Executive's iole on the Green Skills Advisory Panel IGSAPI. NOCN Group has continued 10 shape the national Sustaina￿"llty agenda We expanded our relrofit qualifi¢atK)n offer and supported iniliaiives such as the Consiru¢licv) Skslls Mt5sion Board. reinforcing our posilion as a leader in Net Zero skills. Apprenticeship Relorm and Operational EMcellence= NOCN Group actNely Part￿ipated in Ifials for reformed apprenliceship a55essmeni plans and conlinved preparations loi the Iransilion lo epaPRO. a leading assessmenl management platfoim. in Ihe first hall ol the next financial year We remain the end poinl assessment or9anisaiion with the most standards. with con¢enlralion in the c¢)nstruciion and engineer¢ng sectors. Job Cafds Integratron and Digital Transformation-. The ConslructK)n Plant Competence Scheme ICPCSI Introd￿ed an online Health Safety and Environment test and modular CPO renewal mo(fel. improvin9 accessibility and compli0￿e. On 31 March 2025, ihe trade and assets of NOCN Job Cards were su¢¢Èssfully transferred lo NOCN paving the way foi a fLtlly iniegraled service. International Growlh: We stfenglhened our P￿sence in India, Bahrain. the Kingdom of Saudl Arabia and the wKler Gulf region, securin9 regulatory approvals and partnership5 to support skilled migration and worklor¢e (Sevelopment. We expanded our ESOL Intemat￿)nal wogramme inlo Europe. ASEAN. and Ihe GCC. with new cenlies plartne(I lor 2026. Commitment to Staff Development: Following a rigorous ￿assess￿￿nt. NOCN Group retsined ils Invesiors in People Gold status. reaffirming our strong dedication lo slafl devek)pmenl an oulstsnding people managemenl praCt￿e$. Policy and Research Leadership= NOCN Group contributed lo Major publication5 and national forums. including repgrts on construciion skills, appren1￿$Mip achievement rales. and economic growth slrate9ies, reinlofcing our influence on e¢JLFcalion and sk¥lls policy. Page13 NOCN IA Company lifflited by Guaranieel Chair'5 Foreword (conlinuedj For the Year Ended 31 July 2025 Looking ahead. we lace a dynamic environmenl shaped by governmeni policy changes. evolving skills tjemands (Jriven by techndo9y and Al, and the acceleraiing Nei Zero agend3. l am confideni thai NOCN Group is well positi￿e￿ lo navigate these chaI￿n9e$. expand its charitable ￿a¢h. and mainlain financial strength. On beh>lf ol the Board tsf Trusiee5. 1 exterld my sinceTe thanks io all our staff and management lor their commitment and professionalism Ihroughout the year. Theif dedication ensures that NOCN Group continue5 to deliver on its mtsstop lo provide skills lor a bettei workl. SirrK)n Perryman Chair of Trustee5. NOCN Grovp December 2025 Page14 NOCN IA Company limited by Guarantee) Trustees, Report lincludin9 Strate9i¢ rtptsrtl For the Year Ended 31 July 2025 Tl)e Trustees. who aGi as Diieciors for the purpose ol Company Law. are pleased lo present thesr ieport ancj consoli¢Jated financial statements for the year endirKJ 31 Juty 2025. This report and consolidated financial siatements a like for like comparative result al a nsolidated level las presented in the ConsolKdated stsiemenl ol Financsal Ac(ivitie5, Con50Iidated Balance Sheet. Consoli¢Jated Ststernent ol Cash Flows and accompanyin9 noiesl. The company balance sheet lor NOCN represents the positK)n of the Company after the acquisition ol the trade and assets of ils subsidiary undertaking NOCN Job Cards on 31 March 2025. Accofdingly, the movement in unreslficied general funds ol the chafity includes Ooih the value ol assels acqutred1£768kl and four months ol relaied suiplvses genefatek1 by Ihoge assets. The Purpose of the Charity The purpose and mission slaternent of the Charity is to 5VPPOrt learners and apprent￿e5 to achieve success in k.fe and work artd to suP￿rt communities and organisations to develop and prosper through regulated qualilicalions: apprenticeship a55essrnents. skills accredilation. assess￿Ent SLIPP￿, access lo hvJher education. competency cards. consultaiKy ad¥￿e and training_ The Objec¢s ol the Charity The objecis of the Charily are set oul in the Charity's governing d¢xument, its ArtKles ol Associab"on and are". The advancement of the education of the wblic in one or rTMye of the followin9 way5.- by promoting and wHlening partictpalion in educaf#)n and tratntng. tnclLKftng lor those people who have previously been excluded from educational opportunities.. by improv?n9 the quality an¢J nexibility ol education provbsion for the public benef¢l. inclvding for Ihose people who have previously been excluded from educational opportunities., and by improving acce55 to leamin9 Opportunities a¥KI facilitating progression lo further learning. employment and higher edUCat￿n, partthlady thI￿gh the awafd ol credits and credit-based competency qvalifical*ons. The Charity wo￿$ to deliver these objectives through its key Group lunctions as lolk)ws'. NOCN Educafion and Skills pOI￿Y research Ihrough NOCN'S work in contributing to government vocalional educalion and ski115 pOI￿Y review5 and olher ￿searCh papeis il has delivered in conjunctK*n with partneis with the aim ol improving the quality of the vocaiional e(Sucation system. NOCN Awarding OrganisalwJn through ils woik in developing and promoting vocaliL)nal qvalifraiions that meei Ihe needs of employers and help learners pcogcess ￿ employmeni or Irainin9. ApprentU5hip End Poini Asses5fT*ni- Ihough rts work in provKling a h￿h quality. complianl apprent￿eship assessment Service lo ernployers of apPrent￿e$. Card schemes Ihrough ils work in assessing the competence of workers lo operate conslruclion plant on ¢onstrvction sites and operaiing the s¢affolding card scheme on behalf of CISRS. 35 well a5 Qihef cofflpptency-based card schemes it may operate in the lulure. Inrernational- through the provisKJn of con5ullancy lo improve apprenticeship systems in other COLintries as well as Ihe proviS￿n of ESOL International and other qualifications lo counlries that are keen lo ulilise UK qualif￿alKI￿s. We are also extending our carding seryices intemalionally_ Pa8e15 NOCN IA Company 14miied byGuaranteel Trustee5' Report lincluding strategic rèport) (conlinuedj For the Year Ended 31 July 2025 Publr¢ Benefit The Trustee5 have complie¢J wilh their duty in accordanrx with the UK Charilie5 Aci 2011 to foll¢)w the Charity Commission's guidance on the operatv)n of this public benefil. The Charity WOVKles a public benefit to adVa￿e educatK)n and Iraining for the general publK through.. the developmenl and maintenar￿e of credit based or componenl-based competency qualifications and units as well as short course kamers. awards in U)e UK and international couniries., ils witinued work as a teading accredEled End Point Assessment Organisation for apprenliceships,. and the operation ol Ihe ConstruclKJn Planl Compeiency Scheme ICPCSI which ensures the Construclion Plani Operators have the r￿ht qualifKations and expenence io operate differenl classes ol plant machinery on construction sites. In addition, il operates the CISRS scaffolding card scheme. which NOCN operates on behalf of CISRS. thin ihe requirernenls of the indivKlual qvalification standards, NOCN qualth"cations are open to all members ol the public. The Charity is committed to equily. dwersity and inclusion. accrediied by the InclusNe Em￿0yerS Standard and holds the Gohj status of Investors in People. The Charity continues to ￿en￿$[rale its obje¢tive of w¥Jening participaiion in edUcat￿n, working with group5 and communities that have traditionalty noi tenèfited liom traditional or lormal eosucalional opportunilies. for example learners working at ￿Wer e¢Jucaiional levels.. SENO learners.. ￿arnerS with few formal qualificatK)n". learners based in olfendef insts'lutions". youngef ￿arnerS who are not in employn￿￿t or training.. the unemployed and people working in industries that have not traditionally valued formal qualifications. Key Achievements, Acti¥ities & Performance in the year The Chacity is able lo demonstrate wogre55 againsl its key otiects, arKI key achievements can be summarised as lolkws across the follow.ng divisions of Ihe Group: NOCN Awarding Oryanisation The Westminslef government's prokjnged ¥elorm of iegvlated v¢xatiOn81 and iechni¢al oualificaiions continued to impact s￿ni[1Cantty on NOCN Awarding Of9anisation but it seems the end-ptsinl is now in sight. pending the final ieport Irom Ihe Curriculum and Asses$r￿n1 Rev*w scheduled (orAutumn 2025. In the meantime. the inlensive work carried out lo resporK1 to the reform so far wi51 come lo fruition for academic year 202S126 with nine new qualthcaiions available lo leainers Tl*se qualif￿(lOnS cover the main conslruction iiades such as carpentry and Joinery. brtklaying and plant operations an 10gelher meet the skills needs lor both 16 lo 19 yeaI5 and adijlts. includin9 those who will be employe(J lo meet the governrnenl's targel of building 1.5 millton new homes by the end of thè Parfiament. This qualification offer compares well with oui compelitors and should put us in a good F¢SibDn lor Ihe coming years. Under the reform programme, as new qualifKalions become available. Ihe older versions are being elunde(J by the Oepartrnent for Education (DIE} which faises some business concern5. but Ihese concerns are to be balanced by reasons for optimism. For example. NOCN continues to build elationship5 Wlth. and influence. devofved aulhorities whi¢h control the adult skills budget in their regions. and. in a very positive developmenl. the Consiruclion Ski115 Mission Board ICSMBI was lavnched in June 2025 with a goal to recrvit 100.(rf)O nEw construct￿￿ workeis annually by Ihe end of Page16 NOCN IA Company limited by Guarantee) Trustee5' Report (including strategic reportl (conlinued) For the Year Endèd 31 July 2025 NOCN Awarding Ofganisation (continued) the Parliarnent. There will be closec lies beh¥een Jobseekers and employers lo offer work experience and tailored placements lo kick5tsrt lulfilling Careers the constrvciion irbdustry. A DfE initiative arising from the CSM8 work is the setting up ol len regional Construction Technical Excellence Colleges. NOCN already has a relationship wlh rrr)5t ol these c¢Jleges and was pleased to support their appliralions lor the new $13lus. oiscuss￿5 about working together are expected to start in earty Autumn In summary. by Ihe end ol the fsnancial year, NOCN felt confident io ret1uce the risks to the business as they arise in our external environment. Although publicty funded regulated qualifLcation5 remain a key part of NOCN'S offer. we have continue lo pursue a strategy ol diversification. including expansKJn of the business Intemalionally and an increased focus on dtfferenl produci types. Intefnalionalty. we go from strength 10 51renglh in India, which Ts giving a foundatson lo expand into oiher South Asian counliies. and our office in Bahrain 15 proving lo be an excellent platform fof working in Oiher Gull states. In terms ol Pfoduct types. these include assured courses. which are icleal for vp5killing the existing workloice. and endorsed Pfogrammes which are vsually bespoke for Individual employers. We have 31s0 developed (WK)re skills online course which give leamers a highly flexible way ol building their knowledge We have made full use ol our membership wilh Ihe CPD Certification Service lo add value lo our offer. In the year we develgped 28 new qL*alIfiCat￿m$. mainly in the conslruclion sector. bul we also refreshed our suite of produ¢tivily quah"ficaiions. Our ￿tal offer rernained over 500 qualifications. Vve also developed 25 assuret1 courses and apwoved 177 endorsed programmes. The rapid fate ol lechnolth31cal progress has cortts.nued to present us wrth opportunities which we have embraced. Our skills online courses are deliveied entsrety online and many of our products ale supported by digital resources We launched our first fulty online qualification in the year. We have refined our use ol artilicial intelligence IAII to speed up the development ol new pr¢xluct5 and to bring greater erriciency into our remote invi9ilaiion service without ¢ompromi5ing quality assurance. The plan 1$ 10 roll oul remote invi9ilation across all our exarninalK>ns and a5sessments_ We are lrialling the use of Al to mark examinations with our partner Tata Con5ullancy Services. We coniinue(I with slrong leadership on the development of skills lo stspport the transiiion to a nel zero econorny. through Ihe NOCN Group Chiel Executwe sitling on the National Board of the Green Skills Advisory Panel {GSAPI. GSAP is a greal success siory. rapidly becoming an authtsritative voice on shapin9 the lulure ol sustainable ¢onstruclion and providing 9ieen skills resources for schoo15 an colleges. Alongside this work. NOCN has continued to develop qualif￿at￿)nS and courses to support gieen skills, mosl notably the expansion of our reliofit qtsalifulion offef in line wtlh natsonal standards to pwovide assurance that the retrofit worklor¢e is compeierst. NOCN ApP￿ntice$hlps The 2024125 academic year marked the stsrt of the most wvJe-ranging reform to appfenticeships since the nx)ve from Framew¢xks io Standards in 2017. After seven years ol Stan(Jafds. there was a clear appelile for evolving inlo a more streamlined and cost-elfective approach buiksing on a strong evidence base gathered in Ihe precèding year5 The refoim piogiarnme included an amendment to Functional Skills Gateway requiremenis. mintmum lime on prograrnffe arKI. ffost s￿￿nIfiCant1Y lor NOCN. changes to the as5e55rnenl model. In February 2024. the Department for EducatK)n announced a set ol assessment prin¢sples Ihal enable more flexlbblity In apprent￿eshIP assessment. including on-programme assessment and assessment responsibility shared across training pioviders and awarding org3ntsations. In olhe¥ words. the abolition ol mandatory end-poini assessment and the inlroduction ol new lerminology'appreni¢eship Pagel? NOCN IA Company limiteo ty Guar8nieel Trustees, Report (including strategic report) (Cont￿L￿d) For the Year Ended 31 July 202S NOCN Apprentic¢ship5 fcontinued) a5se55menl'. This announcemenl Ir￿gere￿1 a huge amount of activity across ihe secior including a focus on devek)ping fNe trial reformed assessment plans. NOCN partiopale(1 in the trial and we expect the reformed 85sessrnenl F4ans lo be published in Autumn 2025. at which point awarding organisalions will develop new assessments lof apprenti￿$. It is an￿1Pated that all assessment F4an5 will be reformed by August 2026. Abngside the trial. Ofqual launched a consultation into a new regulatory framework lor apprenticeship assessfflent which generated prolonged di5CU5sions about the need to balance flexibility with consistency and ¢reditNlity NOCN piovided a detaiw response lo the consultab"on. taking the opportunity fo express our concems about the potential dilution of standards. and we await the ovtcomes Èxpècted in Auturm 2025. This will be followed by an Ofqual technical consultatiort. A further aspect of apprent￿eship fefomi was the intrTrJuct￿ ol Foundation AppreniKeships as potential solution to the long-standing issuè ol transitioning young people inio the woffkl ol work and onto full apprentsceships. After lengthy ¢Jiscussions wilh industry and Iiaining providers, we decided to offer Foun¢JaI￿n Appreniiceships wh￿h we anticipaie will be available earty in the new academic year. In a final majoi decision of the year. NOCN agreed lo irnplemenl epaPRO. a leading appienticeship as5essrnent management platlorm fcom Skn'lltech SolulK*ns. which ts proven to streamline processes and Improve Cuslorner experience. The transition to epaPRO Is a sKjnif￿ant project. impacting on all leams across NOCN. with an eslimaled launth date ui firsl half o12025126_ In more routine business, NOCN conlinued io manage our end-point assessmenl oller. remaining as Ihe end poinl a5ses5menl organisation with most Siandards Irmre Ihan 80 Standards) but gradually focusing on our key largel sectors ol wnstruction and engineering. We developed 21 new end-poinl assessments in Ihe year leither lor new Standards or vefsions of exisbng Standards) including seven In the constrvction seclof and eight in engineering. At operational level, we coniinued to lace challenges with recruitrr*nl but made good pfo9res5 over Ihe year. On a very positive note. we finalty achieved ou¥ plan ol recruitin9 a slrong. lull-limp employed quality assurance team. thus creating the ￿1n benefits of delivering an improved and more cost- effective se￿iCe. Finding assessors continued to be problernatic. but genefally loi a small nvmber ol niche Standards only In a small numbei tsf cases. after exhaustsng all othèr ioutes. we successfully applied lor amendments lo assessment plans to enable us lo recwil a55essors. Card S¢heme5 The Construction Plant Competence Scheme ICPCSI has continued to support employment and career progression within the construction plani sector by ensufing operatives meet recogntsed industry standards and by issuin9 secure di9ilal SMAR T car¢Js 11 remains the only plani card s¢heme lully complRnl with the PSRO Card Scheme Framework and continues to meet the Construction Leadefship Council ICLCI "One-Lcgo' lequ1￿Ments. verified through independent CSCS audit. During the yeai. CPCS iMple￿nte¢l significant reloms to align with the Standai¢J Settirtg Body's -New Training Standard5.- UtAYaied scheffe rules and processes were introduce¢J with strong Industry 5UPPOrt. shaped Ihrough aclive engagernenl with Y￿rkIng groups. The remaining calegories will be phase¢J in a5 CITB develops lurthei standards A major milestone was Ihe modernisaiion ol ihe renewal's tests. wilh a fvlly online, modulaf CPO model replacing the pcevious in-person requirement. This digiial-first approach has enhanced accessibility. reduced barriers to maintaining cornpeEence. ano streamlined the renèwal process. PaEe18 NOCN IA Company limited by Guarantee) Truste¢$' Report lin¢luding Strategic rtportl (conts"nued) For the Year Ended 31 July 2025 Card Schemes (conlinuedj On 31 March 2025, the trade and a55ets of NOCN Job Cards were Iransfecred lo the parent charity. NOCN. Following th1S transfer, NOCN Job Cards ceased tradin9. and the Irustees inlend lo formally close the NOCN Job Cards during the next financial year. Until 31 March 2025 NOCN Job Caid5 conb.nued io adminÉsler CISRS smart cards. with volumes con51slenl with the previou5 year. In resporbse lo cost pressures, Ihe CISRS contracl was renegotiated in 2024125 to ensure sUstaina￿lItY of delNery for bolh parties_ This activity continuè within NOCN following the Iransler. Acioss all activities. NOCN Job Cards conts.nued 10 SUPPOrt Cent￿5. employers, and operatives to strengthen compelence and close crilical skills gaps In the sector and again this contsnved within NOCN following the transfer. Intemational Our ESOL Inleinalional woik continues lo grow and devebp in Eurot*. Our English for Speakers of Other Languages IESOLI qualili¢aiions ¢ontinue(I to be highty recognised and used in Greece. Our partnership with Global Awards based in Athens contirnued to be very pf(xJucb've and we are now present in a number of other European counlries. During ihe yearwe have launche¢J ESOL InlernalKJnal in the Gull Cooperation Council area. India and ASEAN_ In India our busine55 continued to flourish based on a slrong partnership with Techn￿al Training Foundation IN￿FI. Haryana State Board of Technical Education IHSBTEI and Odisha State ISCERTI on our L5 Top Up offer in consiruclK)A. engineering. manufacturing and computer technologies. We have a150 5UPPOrted Tamil Nadv State on the Curr￿UluM devekbpmenl for English language courses The international market continues io present signifKanl opwlunilies for produci diversificaiion. The Group has exper￿nCed gfowlh in seveial internatK)nal partnerships, ¢Jespite challenge5 in the global economy. We have strengthened our posilion in the Mthle Easl and are appointed to undertake skills assessment tes15 In Kingdom of Saudi Arabta. There has also been a concerted effort in the year to grow our inlefnational business locusing on the Indian sub-conlinenl ISAARCI and the member states ol the Gulf C¢)operation Council. A parbcvlarly exciting and ongoin9 Opportunity was to facilitate the m￿ratIon ol Intjian and Pakistan iabour lo skilled jobs in the Kingdom of Saudi Arabia. wh￿h has insiig3teLS a majo¥ conslrLtction programme in the northwe51 01 the country Our offices in Indi3 and in Bahrain together with a new panner agent in Pakistan gives us a local presence. which places us in a slrong positK)n to provide our prt)dLJcts and seNices internationally. In addition lo the new work in Asta with NISOH in Malayga and Geese GrcMJp in Indonesia, with cenlres lor ESOL Inlemalional besng signed up for 2026 delivery in Carnbodia and Vietnam_ Education and Skills Policy & Research As an integral part of supporting our chanlable objectives: the Group continues lo support a number ol national awards. which aim to encourage learning across society including d4sa¢Jvanlaged groups. The national awaids Ihal we have svpported this year indude Learning & Work lnsb.luie Awards. Multi- Cultural Apprenticeship Network, National Apprenticeship Awards, National Federation of Builders Top 100 Women in Construction Awards. Newcastle College Gioup Skills Competition. North East Leaining Provideis, Outstandir¥3 Green and Sustainable DevelopmentAward, EXeIerApprent￿esh¢ps and GSAP Awards. Page19 NOCN {A Company Limiie(J by Guaianteel Truslee5' Report (including strategic report) (continued) For the Year Ended 31 July 2025 Education and Skills Policy & Research (continued) In addition, the Group has laken part in and supwrted research on education and skills development lo promote learnir>9 and open sknus development lo r￿re of our communilies. In 2024r25. Ihis included.. Quarter I". Publicat*?n-NOCN Global Conslwcfion Skills Reporr GCAP in Exeter and now nationalty (all year-round supfx*(} PubliCat￿n '8ACH construcb.on App￿￿ty"CeShiP Achievement raies erisis.. Gotsa practice solutions" Contribuled to CLC reF*Nts (all year-roun(I supwt) Contribution to Learning & V¥lyk Instiluie (all yeaf-afound supporti Labour P¥ty Conleience- New Stalesman Iringe event on skills ContribulH)n to AELP Skills Strategy Group (all year-arovnd support) FE ￿￿ek Artiele.. Growth & Skn"Ils Le￿Y is CritKal to Economic suc￿Ss Quarter 2.. Publicalion"Worfd Class Skills Sysrem fo¥ Fair ECor￿¢ Giawth- Mulli-cvllvral ApprentKe5hip5 Patron5 Evenl BACH 1 Alay Conference in November All-party Review wlh PoI￿Y Connect- NEET ￿e¥￿W 'cle FE News.. there are Ihe pe¢)ple lo build 1.5 milllon ho￿$? Launch ol New Octopus Energy Pr¢4ects lor Net Zefo Quarter 3.. PUbl￿allOn.Get 8niain ￿t)rk￿g.. The Misyng 'Part' ol the Skills Gap PuZZ￿- BACH 24lay conlerence in March ATC in LNerpool New Statesman Energy & Climaie Chanye conference Quarter 4.. Two Construclure events to feed into the ol Ihejoirbt ￿d￿stry and governmeni Construction Skills Mission Board FAB seminar'Futures' in Birmingham AELP Construction and Clean Enefgy Seclor Fofum Published the Guide to VK'5 Edu¢aiion and Ski115 Offef Work on a re5X)rt (x) Devolu(ion in England Pagel 10 NOCN IA Company limited by Guaranleel Trustees, Report lincluding strntegic report) (conlinued) For the Year Ended 31 July 2025 Group simplification On 31 March 2025. NOCN Job Cards Iransferred its tfade and assets into NOCN. con501idating inteilinked skills charities into a single organisation. The combined entity now has expected annual income exceeding £21 million and employs circa 200 5￿ff plus a The￿ork of subconlractois. The exercise saw an increase in general lund5 in Ihe Charity of £768k as ai 31 March 2025_ The combined business creates a 51ieamlined "one stop shop- for skills solutK)ns, inlegrating qualifications. apprenticeships. competence card schen*s ICPCS and CISRSI. assured courses and online training untjer 3 sin9le brand. For cardholders anij iesl centres. operations con(inue seamlessly with no disnjption to serv￿. Prior lo the combination. the boards of both organisations consulted with CSCS, CITB. CISRS, Ofqual. and the Chaiity Commission to ensure an effecti¥e Iransib'on. Looking forward. NOCN Group will build on this inlegration 10 deliver a ioined-up service for learners. employers, an¢J centres, while mainlaining the social impact and charitable obje¢tives of both organisatK)ns_ Financial Review The Group's opeialing svrplus was £1.8m as al 31 July 2025 compared lo £1.9m al 31 July 2024. Although income Increased. cosls increased by a h￿her proporbon this was mainty due to higher cost pressures. 2025 £OCQ'5 20.085 118.3131 1.772 11.3071 2024 £CM)Qs 19.082 117.1481 Ir￿￿e Opwating costs Operating ￿TplUS Dewecsaiim, Amortisa[￿ & ￿te￿$t Net incoming resources 11.2531 The reserves ol Ihe Charity as at 31 Juty 2025 We￿ £5.611.02312024'. £S.146.837). In measuring a¢hievements against the Gfoups objectives. the Charity Considers a number ol financial measures including operating surplus margin, gkjbal dNersity ol income and profil margins achteved on core business areas. Operating surplus margin a5 reduced slightly frorn the prevbtrus financial year,. however. the diversity ol international income has continued io expand, and margins achieved in core business area5 are in line wilh expectslions. Going Concern The Board has assessed the current and projecteil snfvp.nry nf thp. r.Iro(Jp looking forward over 12 months from the point ol si9ning In asse55ing the going ¢oncern ol the Group at the date ol this report we have reviewed our forecasts lor 2025126 and developed reasonable bes1 and worst case income scenarios considering the likely &xlerrnal econorn￿ enVirOn￿ent and olher external market tsclors. As part ol the g¢yng concein assessment we carried oul ser7S1tivity lesls on our Slaiemenl of Financial Activities and cash flow projeclion5 looking forward to end of 2026127 and have looked al how much income would neee to drop over Ihts penod beyond our worst case income scenario assuming we take no action to feduce costs, such Ihat we cannot meet all cKJr liabililies as they fall due at any point. The assessmenl has taken inlo ac¢ounl Ihe year-t04Iate performance in 2025126 and latesl P&L and cashfbw pro5eclions as al the end of Ot￿ber 2025_ Pagel 11 NOCN IA Company limited by Guarantee) Trustees, Report (including stratègi¢ reportl (confinued) For the Year Ended 31 July 2025 Going Concern (continued) The 8oard has ￿vieWed Ihe assessmeni and con5ider5 Ihat the Group to remain a going concern artd Ihat Ihe Group wi15 Continue to make suffi¢*nt sur￿LIseS ￿ 2025r26 and 2026127 to cover Irabilit￿5 as they fall due. At 31 July 2025. and ai the dare of Ihis reFQrt. the balance sheet and forward cash wojections show Ihal the Group can continue to ￿￿et its all its oblKJa1￿nS as they fall due over al ￿?51 the nexl 12 months. If the b¢Jsiness is irnpacled by economic downturn or olher external factors. then the b¢Jsinèss will take prompt action to further reduce its cost base to ensure that it can slill meet its obltgalions 85 they fall due. Key Ri5k$ in the year The key risks the Group has faced in 2024125 have been". General cosi inflation as we have seen pay and non-pay COSI pressures persisi in the year in line with the Increase in Inflation generally. We ¢ontinue¢J lo see an Increased fisk in respect of Qui ability to re¢wil assessors to support the h¢gher levels ol activily. We ¢onlinue to look lo optimtse our recruilmenl channels and our offer to ensure thai we remain Competitive in a diificull market. External UK Government policy in respect ot vocatTronal qualification funding levels in futu years l¢r our p¥odvcls contsnues to provide some Ur￿ertaI￿ry. We are mitigating this through the conlinkjed diveisification of our produci offering. General macroeconomic pressures within the UK constnjction seclof. including tnflationary cosl increases and reduced project actsvity. have createo uncertainty. These fact(K5 have been closely monitoied and incorporated Into our fulvre planning. The risk of CPCS scheme being dependeni on the siability and effeciiveness ol CIT8 funding arrangements and PRSO poI￿y. Any material changes to these frameworks could trave a¢Sversely affected the scheme operalK)n or competihveness. The risk that Ihe ITB Review carned out by ihe Governrnent lo cb5e CITB, as this ¢oul(S have had a detrimenlal irnpact on NOCN'S opefatK)ns. This risk ceased following the consensu5 achieved dvring the year. Reserves Policy The Gioup's reserves pdicy was reviewed and ￿[￿ated since the previous financial year. The aim ol Ihe policy is to keep the Group's balance sheei unrestricted reserves in the range ol £5.5m and £8. 1 m. Equating lo approximalely 4 10 6 months ol pcoiectet1 operalin9 expenditufe. The policy also aims lo keep the Group's available cash wilhin £2. 1 m and r3.8m. These unrèstricted reserves. which are freely available lor 9eneral use, afe hel(5 to withstand any shorl-lerm finanoal risk5 and to 5UPPOrt any net windup c051s in the event of closvre. As al the en¢J ol July 2025. Ihe Groups reserves were £5.6m. Ihus operaling within the bottom of Ihis reserve range. The Group's reserve levels have increased by £0.5m compared 10 the prior year levels of £5.1m. The Board approveo a business plan and bvdger lor 2025126. wh￿h will increase the reserve and available cash levels further and the Group is expetted to remain within the reserves ￿rge1 throughout 2025126 and 2026127. Pagel 12 NOCN IA Company limiieL1 by Guarantee) Trustees, Report (including strategic report) (continued) For the Year Ended 31 July 2025 Powers of Investmet)t The Truslees are authorised by the Memorandurn of Asstxialion to invesl montes not immedialety quired lor Ihe Charity's own purposes in such investments, securities or property as they deem fit subject lo any conditions requiied by law. Future Plans The Group's strategic objectwes NOCN Wision 2030 are EO". Have maintained our profile with Government & our largel in¢Justries as a leading Awarding Organisalion. 8e seen as the leader in Sustainability and Net Zero skills in the UK. Continue building a strong recognition as a skills organtsatK)n in Europe. Middle East. the Indian Sub-conlinenl. South East Asia. Conlinue 10 operate from entry to L7. Mainlain ￿gUlated qualif￿atiOn iegi5tratK)n level5. Grow volumes in apprenlice5hips. assu￿ courses. endorse(J programmès. skills cards. short courses and accredited CPD. Have rnaximise(I the use ol technology lo supm leafners and ern￿OYers. Increase the number of people we help Inlo employment and progression in work. ensuring we svpport people from diverse cultures and back9iound5. Be a great owgani$3lion for oui customers and employees by ernbedding and progres51ng equity. diversity. inclusion and belonging IEOIBI. These objectives are driven by the context we operate in. tyjr mission and values. (he need to mainlain our tiusiness in what may be a diff￿￿11 policy and economi¢ context f￿ a number ol year5 and the nee(1 lo develop new ways ol wotking. Structure, Governance and Management NOCN is a company limited by 9uafanlee and a règistered charity and is governed by its Articlès ol Association. incorporated on 18 August 1999. Theie were 12 trusiee5 01 ihe charity as at the end of 31 July 2025 who are members ol the Charity under company Law. In Jvly 2017 NOCN India Skills Foundalion was incorporated in India as a SLtbssdiary ol NOCN and is included as part of these consolidated financial staiemenls. NOCN Job Cards was incorporated as a company Irmiied by guafanlee on 22 Oclober 2018 and was registered as a charity on 15 Febiuary 2019. NOCN Job Caids is I￿l￿ded as part ol these consolidaied rinancial staternents given its anicles give NOCN the right lo appoinl o¥ terminate members of the Board. NOCN is the sole member ol NOCN Job Cards Appointmeni of Trustee5 As sel out in the rewised Articles ol AssocialvJn. the Chatily seeks anLI recrvits Trustees who are drawn from a wide range tsl backgiounds. includin9 induslry seclors where the Group operates. As al the end 0131 July 2025 there were 12 Trustees in FO51 al Ihe Group's Board. The Chair of the Board and Ihe sub-committees are appointed Irusiees. Ourinu 2024125 there were 5 appointments and 5 resignations to Ihe NOCN Board. Trustee posts are advertised. Applications are reviewed by the 8oaiO and where appropriate a shortlist established lor inlervew. The Board makes Ihe final appointmenl. Pagel 13 NOCN IA Company limited by Guarantee) Trustee5' Report lincluding strategic report) (continiwlj For the Year Ended 31 July 2025 Trustee Induction and Training en new Trustees join ihe Board. a formal briefing fiom the Chair and Group Chief Executive take5 place anEI they receive an inducbon pack. Tfustees receive formal training on their respon5ibililie5. including their legal oblKJatiorts. statement of Règulaiory Gomplian¢¢ AII Awarding Or9anisatws are requThl io subnwt their formal ststement of compliance. under Ihe General Conclilions of Recognition. published by OIqLFal. This is a key govefnance ￿￿un￿nI. which NOCN will submit to the 2 regulators ol qualifr¢ations In the UK in Oecember 2025. NOCN recorded thal il was compliant wilh Ihe Gener31 Conditims of Recc*]nition. Compliance with the Charity Governance Code The Trusiee5 moniior the Group's compliance wilh the Charity Governance Code. the a$5essment of whrch was last upd3led in November 2025. It ha$ been assessed Ihat Ihe Group continues to be compliant with the Code. Organisational Stru¢iure NOCN is governed by a board of trustees and as al 31 Juty 2025 the Charity has 12 Trustee5. The Board of Trustees meets at least quarterly with a lull business agenda including a review of Ihe Managemenl Accounis and budget achievernent for Ihe GfOLtp and each of its subsidiaries. Ouring the year the Board was 5UPPOrted by 5ubon of Iravd and oU)er iiregularities. Disclosure ol information to auditors The Trustees who held office at the dale ol the Tiuslees report and this Strategic Report confirm that, so far as they ale aware. there are no relevant informalitsn of which the group'5 auditor 15 unaware". and each Trustee has taken all steps that he15he ovght to have taken as a Trustee to make himselflherself aware ol any relevanl audit inlormalion and to establish that the group's auditors ale aware of that infoimalion. Page115 NOCN IA Compary limited by Guarantee) Trustees, Report (including strategi¢ reportl (continued) For the Year Ended 31 July 2025 In accordance wlh Section 414 01 the Companies Acl 20(6. the company prepared a Tru5tees' report that includes information that woukj be included within a stralegic report. The Trustee5 aulhorise both Ihe Truslees, Repn and strateg￿ Report below. Simon Perryman (Chaif December 2025 Pagel 16 NOCN IA Company limiie(J by Guarantee) Independent Auditor's Report io the Member5 01 NOCN Group Opinion We have audited the Iinancièl staiemenls of NOCN (lhe.pa￿ttl Charitable company.) lorthe year ended 31 July 2025 which compfise the Consolidated Slaterrent of Financial Acliviiies. ihe Consolidated Sialemenl ol Financial Position. the Chanty Statement of Financial Position, the Consolidated Sialement ol Cash Flows and r￿leS to the financial staiemenls. including a summary of significant accounling policies. The fin3nual reporting Iramework that has been applied in their pieparalion is applicable law and Uniled Kingdom Accounting Standaids. inclLKling Financial Reporting Standard 102 The Financial Reporting Stafidard applicable in the UK and Republic of Ireland {United Kingdom Generally Accepted Accounting Praclu). In our opinion the financial statements: give a Irue and lair view ol the slate ol the parent chantable company's affairs as ai 31 Juty 2025 and application of resoLtrces. including its income and expendilufe, For the yeaf then ended.. have been properly wepared in acwd8￿e wilh Uniled Kingdom Generally A¢¢epted Accountin9 Practice.. and have been prepared In a¢cordance wtfh Ihe ieovtiements ol the Companie5 Act 2[￿6. Basis for opinion We corKlucled our audit in accordance with InlernatKJnal Standards on Auditing IUKI IISAS IUKII and applicable law. Ovr responsibilities under Ihose standar(Ss are further described in Ihe auditor responsibilities lor Ihe audit ol the financial slaternent5 section of our report. We are Indepenclent of Ihe group and parent charitable company in accordance wtlh the ethical requirements that are relevant 10 our audit of Ihe financial slatemenis in the UK. inclucling the FRC'S Eth￿al Standard, and we have fulfilled our olher eth￿al responsibilities in accordance with these feqtjirernents. We believe Ihat the au(Jil evi(lence we have obtained is 5uffKienl and approprkgte to provi¢Je a basis for Qui opinKJn. Conclusions relatin9 to goin9 concern In au(Siling the financial stalements. we ha¥e toncluded thalthe trustees, use ol the going concem basis of ac¢ounling in Ihe preparation of the financial statemenis is appropriate. Based on the work we have pertormed. we have noi ideftlified any malertal uncertainlies retalin9 10 evenis or con*Jit1￿$ Ihat, indivbJualty or collectively. may cast s￿nIf￿nI doubt on the group an¢J parent chariiable company's ability to c￿linUe as a goin9 concem for a period of al least ￿le1ve months Irom when the financial siaiements are aUth￿ised for Issue. Otsr responsibilities and the reSpon￿bilrtles ol the tfustees with respecl to goin9 roncern are tjescfibed in Ihe relevant sections ol this report. Other information The Olhe¥ information comprises Ihe informah.on included in the trustees annual report, othei Ihan the financial statements and Ouf auditor's report Ihereon. The Iruslees are responsible for the other inlormation contained wilhtn the annual reporl. Our opinion on the financial statements does not cover the olhei informaiion and. except to the exienl Oiherwise expliitly siateil in our report. we do not expfÈSS any form ol assurance conclusion thereon. Our fesponsibility 15 to read the orher information an¢J. in doing so, consider whether the other ¢nlorrnakn"on is materially inconsistent with the financial slatemenis or our kn<)wledge obtained in the course ol Ihe audil ot Otherwise appears lo be rnalerially misstated. 11 we Klenlify such maiefial inconsistencies ￿ 3ppa¥enl material Misstateff￿nt5. we are iequired lo deterrnine whelher Ihis gives rise to a material misstalement in the financial slatemenls Pagel 17 NOCN IA Company limited by Guaranieel Independent Auditor's Report (conlinued) to the Members ol NOCN Group Ihemselves. If, r)ase¢ on Ihe work we have performed. we conclude thal there is a rnalerial mis51atement ol thi5 olhw inlofmation we are required to report that fact. We have nolhin9 10 report in this regard. Opinion on othei matters prescribed by the Companies Act 2006 In our opinion, based (M the work uneen kept or ceturns adequate for our audit have not been received from branches not visited by us.. or the financial staiements ale not In a9ieement with the accounling records an¢J reluins.. or cerlain disclosures of directots. [eMunera￿On specified by ale not made". or we have not received all Ihe in1￿Ma￿On and explanat￿n9 we require lor Qui audil. Responsibilities of Trustees As explained more fulty in the Iru51ees' responsibililies slatement set out on page 15. ihe trustees (who are also Ihe direclo¥s of Ihe charilable company for Ihe pviposes ol company lawl are responsible for the preparation of the financial stalement5 and lor being satisfied that Ihey give a Irue and fair view. and for such internal control as the trustees determine is necessary io enab￿ the preparation of financial statements that are tsee from material misstsiement, whether due to fraud or ￿ror. In preparing the financial stalements. the tru51ees are responsible for assessing tfie charitablè company's ability lo coniinuè as a 90ing concern. dbscl0sl￿. as appSLcable. matte15 ielaied io going con£Èrn and vsing the going concein basis of accounting unless the Irustees either intend io liquidaie the charitable company or to cease operat￿nS. or have no realÈslic alternative but to do so. Auditors. responsibiliti•s for the audit of the financial statements We have been apwnted auditor under the Companies Act 2006 and reprt in accordance wilh this acl. Our objectsves are lo obtain reasonable assvranee about whether the financial slalements as a whole re liee from maierial misstatement. whether due to fraud or eryof. and to issue an audiloi's report that includes our opinion. Reasonable assufance is a high level ol assvrance. bvl Is not a guarantee thai an audii ¢onductecJ in accordancpwith ISAS IUKI will a￿ayS detect a maierial mis51atemeni when li exisis. Misstslemenls can arise from liaLrd w error and are considered material if. Indiv￿U¥llY or in the aggregate. they could reasonabty be expected lo Influen￿ the econom￿ decIs￿nS ol users taken on the basis ol these financial stalements. Page118 NOCN IA Company limiteo by Guarantee) Indeptndent Auditor's Report (continued) to the Members of NOCN Group Irregularities, Including fraud. afe instances ol non<0M￿lanCe wtlh laws and regulations. We design procedures In line with our re5ponsibilitie5, outlined above, lo detect material misstatements in respect of srregulafilies. including Iraud. Our approach lo iclenlitying and assessirtg Ihe risks ol materral misstalemenl in respect of irregularities, including Iraud and non-compliance wilh laws arKI re9ulations. was as follows.. we idenlifie(J the I￿S and regulalions appluble to the parent charitable company through discussions with directors and other management. and from our commercial knowledge and experience of the tnduslry. They key laws and regulations we identified were CharitiesAct 2011, Companies Act 201E. Employment legislatson and Ofqual regvlatws" we assessed the exieni ol compliance with the laws and regulalions iolentified above through making enquines ol managemeni and obtaining Compliar￿ certificates.. and identified laws and regulalions were commtsnicated within the audit leam regularly and the team remained alert lo insiances ol rton-compliance thr￿ghoul the audil_ We assessed the susceptibility ol Ihe eniity's financial siateffents lo material misstslement. including obtaining an understandin9 of how fraud might cccui. by.. making enquines of management as to where they considerecl there was 5U5ceplibility to fraud. their knowledge QI aclval. suspected and alleged fravd,. and considering the inlernal controls in place to mitigate risks ol fraud and nonNernenl io ftryjs n Il* pefh)d as per Ihe sialernerrt of finarrtal acti￿￿5 A￿l￿1￿*r￿S for". Oeprecialion & Awttsaiion Inleie$i [eceWab￿ 8 srnrfar Intefe$i payab￿ & syndar th?r9e5 LossIl￿oritI dis￿saI on fLxed assets Decrease ￿ slc5S Is measured as the difference be￿een an assei's ¢arryin9 amounl and Ihe present value ol esiimated cash flows ¢Jiscovnied at the asseys original etteciive Interest fate. If a financial assei has a variable Interest rate. the diseount rate lor ￿35￿rIng any impairment loss is the cuirenl efiechve interesi rate determined under the conlract. For finantial assets measured at COSI les5 impaiiment. the impairment loss Is rneasured as the fJifferenGE between an asset's carrying arr￿UAl and best estimate of the recoverable amount, which is an 8pproximation ol the amount Ihat the company would ieceive lor the asset il it were 10 be sold at the reporting dale. Financial 3s5els and liabilitie5 are oftsel an¢J Ihe nel 3rThJvnl reportec5 in the Balance Sheet when there is an enforceable rtyht lo set off Ihe recognised amounts and Iherè is an Inlenknon lo settle on a net basis or to realise the asset and setlle Ihe liability simullaneously. Resources Expènded Resources expended are recognised on an accwals basis. Resources expended include artribulable Value Added Tax whth cannoi be recovered. Resources expended ale allocaied 10 the particular activity where ihe cost reL41es d¢re¢lly to that activity. CharitaNe expenditure comprises Ihose c0515 incurred by the Group in the delNery of its activitie5 and servi¢es for its beneficiaries. It Includes both cost5 that Can be alkncated directty to such aclivities and those costs of an indirect nature necessary lo support them. Governance costs include Ih05e costs associaleo with meetin9 (he consb"lulional and stalulory iequiremen15 01 Ihe Group and indL*oSe Ihe audit lees and costs linked to Ihe Strategic managernenl ol the Group. Expenditure is recognised once there 15 a legal or ¢OnSlru¢tNe obl￿allOn to transfer economic benefit lo a third party. il Is probable that a transfer ol economic benefits will be required in settlement, and the amounl ol the obligalion can be measured reliably. Expendit¢Jre is c&ssilied by activity. The costs ol each activity are made up of the total ol direct costs and shared cosis. includir*g supporr costs involved In undertaking each activity. Direct costs attributable to a single activity are allocated direclty lo that activity Shared costs which contribyte 10 [T￿le Ihan one actNity and support costs which ale noi attributable lo a single activity are apportioned be￿een those aGlivilies on a basis consislenl wilh the vse ol resources. Central staff Costs are albcated on the basis of appiopriate cosi drivers depending on the nature ol the aclivilies the staff are involved in_ The cosi driver5 include tsme spent. proportion of entity Trncorne level as a percenta9e ol Group income level. and entity FTE5 as a pef¢eniage ol Group total FTES. DepfeciatK)n charges are allcKated on the portion ol Ihe assets use. Expenditure on charitable aclivilies is incvrred on diiectty undertaking ihe acisvilies which fvrthei the Charity's objeclivÈs. as well 3$ any assctialed support cosis. All Èxperlditure 15 inclusNe ol irrecoverable VAT. Page127 NOCN IA Company limited by Guarantee) Notes to the Financial Statements Icontinu8LIJ For the Year Ended 31 July 2025 Investments In Ihe Charity's financial slalements. inve5tmenls are ststed at Cost ￿5S provision lor permanenl dirninulion valve. Tangible Fixed Assets and Dèpreciation Tangible assets are induded al cost less accumulated depreciation. Depreciation is charged so as io write off the cost or valuatKJn of asseis over their eslimate¢J vselul economic lives, using the straight-line metho(S as folk)ws' Compuiei Èquipment Fixtures and fittings - 33.3% per annum 10% per annum All tangl￿e fixed assets costiro over £1,000 are Ca￿taIlSed on acquisition and are include¢J In the balance sheet at cost. The esbmaied useful econorrmc INes and depreciaiion method are reviewed al each year end. Intanglble Fixed Assets and Amortisation Intangible assets are measvre¢J at cost less accvmulated amOrtisat￿n and any accumvlated impairrnent losses. Purchased goodwill is feeognised ai the costol acquisit¥)n less Ihe on-balance sheet as5et5 purchased. Soth¥are developrnent costs are recogniseLI as an tnlangible asset when purchased but amorti5ed when als ol the folloW￿g criteria are demonsirated". The technical feasibility ol completing the so￿ale 50 that il will be available for use or sale. The intention 10 complete the software and use or sell il. The abiSity 10 use Ihe software or to sell it. How the So1￿?re will generale probable luture economic benefits_ The availability of adequate technical. financial and other resources to compleie the development and to use or sell the sofvare. The ability io measure reliably the expendrture attribuiabbe lo the sofvare during ils de¥elopment. AmortisaI￿n is charged so as to allocate the cost ol inlangibles less their restdval values ovef their eslirnaled uselul lives. using the straKJhl-line method. The intangible assels are amortised over Ihe lolbwing useful e¢onomi¢ lives- Sofvare developmeni tosls Goodwill 5 yea¥s 10 years 11 there is an indication Ihai there has been a Signi￿nt change in amortisatDn rate or resKl¥al value of an asset. Ihe amoflisaiion of thai assei is ￿Vtse￿ prospeclivety to reflecl the new eXpectat￿n5. 11 the nel law value ol Ihe idenllfiable assels ano liabililies acquired exceeds the cosi ol a business combination the excess vp lo Ihe 13ir value ol nOn-n￿ne1ory assels acouired is recognised in the SOFA in the periods in which the non-¢wnelary assets are recovered. Any excess exceeding the fair value ol non-monelary asseis acquired is recognised in the slatemet)t of financial aclivib.es in the pefir>Ys expected to be benefiiied. Page128 NOCN IA Company limiied by Guafanteel Notes to the Financial Stattments (¢ontinuedJ For the Year Ended 31 July 2025 Stocks Stocks are 51aled al the lower of cost and net realisable valtje being ihe e51imated selling wice le55 costs lo complete anL1 sell. Cost is based on Ihe cost ol purchase on a fir5f in. first out basis. Taxation As a registered charity. NOCN. is entitled to exemptK)ns from Cofporalton tax on income and gains vndei the provisions ol Currenl UK co￿018110￿ tax legislatK)n. lo the extent that such income and gains are applied to its charitable puipJses. The charity's activities conwst primarity of the ￿0¥6%)n ol educational support se￿￿e$. which fall within ils ¢hafilable objects. The l¥ustees have reviewed the naivre ol the ¢hafity's incorrt and expenditure and are saiislred thal no irlcome or gains arose dufing the year thai are subject lo corporation lax_ Accoidingly. no pro¥ision lor co￿Or3[M)n lax has been m*le in these finan¢Fal staiemenis. Pensions The Gioup opeiales 3 defiTred conlribulion pension scheme. The assets ol the scheme are held in a separately admiftislered fund. The amounts charged ift ihe Financial Statements repiesenl the contributions payable to the schen* during the year. Lèased Assets Operating lease costs are charged on 3 straight-line basis over the tÈm ol the lease. Fund A¢¢ounting Restricted Ivnds are lun¢Js to be used lor speUr￿ purpJses as down by the donor. Expenditufe which meets this cnterion ss charged lo the Ivnd. 109eihef wilh a lair allocation of managemenl and support costs. Unrestricted funds comprise those fvn¢s. whth the Trusiees afe free to use in accordance with the objecis of the Charity. DeSIgna￿d funds are Unrestr￿ted fUr￿s. wh￿h have teen alkxale(J lor specific purposes by the Tnjstees. Interest receivable aftd payable Inleresl receivable 01 payable is re¢ognise¢J in the slateft￿t of FinancK81 AclivitÈs on an accrvals basis. Page129 NOCN IA Company limited by Guar8nteel Noies to the Finan¢ial Ststement$ fconlinued) For the Yeaf Ended 31 July 2025 Noiè$ io the Accounts 1. Incoming resources Irom charitable ac¢i¥ities Unrestri¢tsd Ivnds 2025 Totsi funds 2025 Tot fvnds 2024 Awarding Organisalion & Apprenlte$lwp5 Card Schemes ICPCS & CISRSI NOCN hdia Skills F￿ndall¢ Interest 3nd similar irtome Toial 15.375,373 4,463.083 230,498 15.B19 20,084,772 15.J75.373 4.463,083 230,498 15.819 20,084.773 14 978.095 3.804.383 294.052 5.846 19.082,376 All income Irom charitable ac11vil￿S in the prior petwxl was unrestricted. 2. Analysis of resource expended on charitable activities summary by fund type Unrt5tricted htnds 2025 Totsi fvnds 2025 Total fiJThJs 2024 Awarding Organisalion 8 Apwenliceships Go*rnance Card Schemes ICPCS 8 CISRSI NOCN india Ski115 Fovn¢Jation 0eweciati￿ & Arn¢y¢isali Interest payable a￿1 similar charges Tdal 14.760,877 440.940 2.982,844 124.000 1.285,040 26,885 19,620,586 14.760.877 440.940 2.982,844 124,IXSO 1.285.040 26.885 19,620,586 I3.￿.588 298.348 2.810.493 123.PA2 1.253,038 Y),(Y23 18.401. 152 All resource expended frorn charitable aclivrties In Ihe prior period was unrestrtled. 3. Total resources expended Acti¥btie$ undertaken dire¢Oy Support co*s 2025 AwardiThJ O￿ar￿$z110n & Apwenlicesl*p5 Go*rnaKe Caid Schemes ICPCS & CISRSI NOCN India Skills Foundaii¢ Depre¢ialion 8 Amortisaiity) Inieresi payable and similai ehaoes Total 11.6S6.190 3,104.687 440,940 15.381 14.760,877 440.940 2.982,844 124.000 1.285,040 26.885 19.620.586 7.967,463 124.000 1.285.040 26.8BS 4.872.932 14,747.654 PaEe130 NOCN IA Company limited by Guaranteel Notes lo the Financial Statemen¢s fcontinued) For th* Year Ended 31 July 2025 Acli¥ilies ufvJertaken dIr￿tty Support C051s 2024 Awarding 0rgantsal1￿ & Apprenlice5hip5 Go4emarte Cwd Schemes ICPCS 8 CISRSI NOCN kndia Skills Four￿allOn Oeprecialion & Arnortisati¢ ieresi payaNe and similai chages Tolal 11.246.09) 2.619.536 298.348 139,802 13.865.588 298.348 2.810.493 123.662 1.253.03B 50.023 18.401.152 2.670.691 123.662 1.253.038 50.023 4.3fKI.749 14.040.403 locations have been made on ihe foltowing basis.. Governance costs a￿ made up ol the estimaled time spent by the Executive Cornmittee on group govemance plus other direct governance costs. 4. Governance 2025 2024 Meeiiry costs Eypenses paid lo TrLslees Legal Cosls Intelrwl a￿11¢ fee5 errwl al￿tt lees Mar emert costs 2S.459 2.244 7.902 18,144 28.800 358,392 440.940 20.073 1,IS8 14.￿1 24.500 227.918 298.348 2024 numbers have been re5¢3led to declare the gross Yalue of the audit fees as require by ihe Charites Stalemenl of recommended Praclice ISORPI. S. Net incomin9 fesources 2025 2024 Nei inccmni L￿p￿Ciall(￿l Amortisalion Exlemal audil fees Operaling lease in respect of tx*lth'ngs Operating lease in Fe5￿£1 of eqL4prneni and ca resources for Ihe year a￿ staled after chargiNJ_" 79,SOO 1.205.540 28.800 330.389 542 74,478 1.178.560 24.500 336.169 14.540 6. Employee numbers and costs 2025 2024 lo ees Wages and salares Swal sewily ￿51$ pe￿On cost$ Total 8.064,226 872.411 617.142 9.S53.779 7.322.785 749.975 548.333 -621.093 Page131 NOCN IA Company limited by Guar8nieel Notes to the Financial Statements (contintsed) Foi the Year Ended 31 July 2025 6. Employee numbers and costs (Cont￿￿ed} The number ol empbyees in the group whose emoluments amovrtted to over £60.000 in the year was as lollow5." 2025 2024 fthber Number £60.LN)) 10 £69.999 E70.CNJO 10 E79.999 £80.iNK) 10 E89.999 £go.cKx) 10 E99.999 £1￿.000 10 E109.999 £110.(M)O lo El 19.999 £120.(￿0 10 £129.999 £iso.rx)O 10 [159,999 £210.(KxI 10 £219.999 £240.Ctt lo £249.999 In respect of the above emptoyees. emF4oyer pensK)n conlribuiions paid to a defined contribulion pension scheme during the year were £119.64712024: £108.4401 2024 numbers have been restated io exclude employers Nl a5 reguire by the Chantes Statement ol recommended Piactice ISORPI Employees The average number ol persons employed by function was: 2025 2024 Nwnter 140 42 Number 141 Charilat4e aclMiE5 Mar erne￿ ad￿nstra¢K)n of thrrty T￿81 Contingent workers The average number ol Conlingenl Woikers. catulate(J on a basis ol nufflber working in a month on average over the yeai. analysed by lunclion was". 2025 Number 133 133 2024 NLffnber 136 13S Ctrwrrfabie aciThril*S Total Ounng the financial yeac the Group incuried Organisational Change cosis 01 £79.536 12024.. £154,379). This inclvdes siatutory reduThdancy pay. paywent in lieu ol noti¢e and other miscellaneous costs. The Group polTrcy for organi5alional change is documented fully and available on-line lo all staff. The objective ol the is lo ensure Ihat unavoitjable redundancies are handled in a fail. ¢onsisteni. limely and non-discriminalory way. P8Ee132 NOCN IA Corrip8ny limited by Guaranteel Notès to the Financial Statemènts (conlinuedj For the Year Ended 31 July 2025 7. Pension Commitments The charity operates a ¢Jefine(I contrhbution pension scheme_ The pension ￿$1 chaf9e represents conlribulion5 payable by the charity lo the lund and amounted to £617. 14212024". £548.3331. Conlfibutions of £14.42712024' £17.6761 were payable lo Ihe fund al the reporting date. 8. Trustee remunefaiion Group & Company 2025 2024 Travel aThJ subsislerre Total 2.244 2.244 i.jss 1.156 N¢ remunefalion wa5 p8id to the Irvstees in the year to 31 J￿Y 202512024". £Nill_ Expenses for travel and subsistence were Pa￿ 10 5 trustee5 (Jurin9 Ihe yeai lo 31 July 2025 {2024: 41 9. Audit remuneration 7025 2024 ernal of Group I Pafern External ?￿rt of NOCN Job Cards ISLthK10ry1 Total 21.600 7.200 28.800 20.4(K) 29.4CM) 10. Net Income l Expenditure attfibutable io mèmbers of the parenl company The nei svrplus recorded by Ihe Parent Charity tor the year was £74.07612024'. £544.303), in addltion Ihe reserves of NOCN Job Caids of £768,405. were translerW to NOCN during the year. All lunls are unieslricled. Page133 NOCN IA Company limiied tsy Guarantee) Notes to the Financial Ststements (conlinuedj For the Y¢ar Ended 31 July 202S 11. Intangiblè fixe(l assèts Group Goodwill Tolal development Cost Al beginniThJ of year A¢dilions Disp05315 At end ol year 1.593.234 .537 1381,3261 1.718.445 9.311.448 10.904.682 506.537 1381.3261 11.029.893 9.311.448 Amortiglioft Al beginning of yew Charge ler Ihe year Disposals Atenil of 651.$28 302,839 I￿.178) 597,589 6.124.S84 12.701 6.776.112 1.205.540 I3￿.778} 7.624,874 ear 7.027,285 Nel book value at 31 July 2025 1.120.8S6 2.284.163 J.405,019 Nel book wlue al 31 ￿lY 2024 9I1.7r 3.186.884 4, 128.570 Software dtv¢lopmtnt Goodwill Tot•1 Company Cost Ai beginnir¥J ol yeaf Addilions Disposats Group (Tans At end of year 925.26S 282.839 (315.4J81 725.779 1.718.445 6.OZI.789 6.947.054 382.839 lJ15.438) 4.015.438 11.029.893 3.289.659 9.311,448 AmortisJtion Al beginnir¥J ofyear Charge k>r Il* year Dlsposals GTOUP Iransfers Atend tsf year 419.647 225.728 (U).8901 243.104 597.589 4.212.319 702.353 4.637,*6 928.081 P90.89)1 2.355.717 7.624.874 2.112.613 7,027.285 Net book valtse at 31 July 2025 1.120.856 2.284.163 3.405.0IY Net ￿k KelL* ai 31 2024 505.618 i.ac6.470 2.315.088 On 31 March 2025. as part ol the Group simplif￿1￿￿ (see nole 221. the irade 3n¢J as5els ol NOCN Job Caids were translerred into NOCN_ As such NOCN Job Cards hekl no Inlangible assets as a131 July 2025. The nel value ol inlangible assets acquirecl have been recognised on a gross basis The Trustees believe that this makes the Company posit￿n more comparable lo the Group position and portrays a true and fatr vtew. Page134 NOCN IA Company limited by Guarantee) Notes to the Financial Statements (continued) Fof the Year Ended 31 July 2025 12. Tangible fixed assets Compuier equipment Fixtures and fitbn9S Group Tc*lal Cost Al begimiry ol year A¢Jdilions Ci5POsals At end ol ytar 319.923 15.415 111.3761 323.962 476.915 ).582 {98 0421 439,455 45. 167 (86.fA61 115.493 Oepreciation Al beginning of year Charge br the year "5P0531s At end of year B2.976 47.419 186.6661 43.729 192.540 32.081 111.3761 213.245 27S.516 79.5C 198 0421 256.974 Net book ¥alue at 31 July 2025 71,764 110.717 182.481 Net i￿k kplue ai 31 ￿[Y 2024 74.016 127.383 201.399 Computer equipment Fixwr¢s and fittin9$ Company Totsi C05t Al beginning ofy&•r Addilions SF 250.OC¥) 1.330.622 558,565 50.¢JJO 250.￿)￿ 858.565 2.439.187 1250.0001 2.189.187 25. Directors and Key Management Remuneration amountin9 10 £873.005 {2024'. £560.7911 was paid lo key management during the year. In addilK)n. the Charity made coniributKJns ot £92.36312024.'£44,4881 to a defined conlribution pension scheme in respecl of key management personnel. Page142