Charity r•glstratlon number 1081184
Company r•glstr•tlon number 02400056 (England and Wal#¥l
NORTHERN COLLEGE OF ACUPUNCTURE
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

NORTHERN COLLEGE OF ACUPUNCTURE
LEGAL AND ADMINISTRATIVE INFORMATION
Trustaes
K Wicklow
ECLIU
H Thomas
N Haines
DJay
G Webb
H Lansdown
(AF¢X)inted 20 O¢tober
20221
(Apwlnted 9 Fgbruary
20231
T M Horta Rois da Sifva
Srtrntary
DJay
Charlty numbgr
1081184
Company number
0241X)056
R•glst•f•d offlG•
61 ￿1￿89ate
York
Y01 6LJ
Auditor
H8nton & Co LLP
124 Acomb Road
York
Y024 4EY
Bankors
Santsnder plc
Bridle Road
Bootle
L30 4G8

NORTHERN COLLEGE OFACUPUNCTURE
CONTENTS
Pago
Trustees, report
Stat8m8nt of trusloes. r8sponslbllMles
Independent auditorfs replxi
Statement offinancial actsvibos
10
ststemenl ol financial poslllon
11
Statement of cash IIow8
12
N¢)tes lo the flnanclal statements
13-23

NORTHERN COLLEGE OF ACUPUNCTURE
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT)
FOR THE YEAR ENDED 30 JUNE 2023
The trusts8$ PTeSont their annual rewt financlal statements for the year ended 30 June 2023.
financi81 statemènts have been pw8red in accordance wlth th8 a¢cvunling policp$ sot oul in note 1 to thg
flnancial statements 8nd comply vAth the Companios Act 2006, 'Ac￿Unting and Reporbng by Charities.. Stalemenl
of Recommended Practlce applicable to charibes preparing their accounts In accordance with the Financlal
Reporting Standard appli*ile in the UK and Republic of IrelaThJ IFRS 102) (eftect5ve 1 Jarwary 2019} and
Regulatory advlce 9.. Accounts diracdon Is8￿1 by the Officè for Students.
Obl•ctlv•s and actlvltl
The charlty'$ objects are to provlde educaUon In the art of acupuncture, traditional Chinese medklno and nUtri￿n
an(J there has been no change In these during th8 y8ar.
The trustegs have paid du& regard to guldarte ￿Ued by the Charity Commission in decldlThJ what ac*Mtw th8
¢harty should undertake.
Stratoglc rnport
The description undar th6 ￿adIngS 'A¢hievements and porfomiance. and 'FinancTral revieyf tho wnpany law
roquiromgnts for the trustees to presant a stratsgyc roport.
Aehlwom•nts and p•rfom)an¢e
1) The 2022 Intake ol students was of..
37 for the Bsc in Acupuncture
12 for the MScJPGDlp in Nutrition Sclence and Pradlcg
W8 did not offer our online MS¢s in Advanced Oriental Medi(¥no (Research and Practke),. Advan¢*d
Complemèntary Medicine (Research and Practlcel; and Advanced Nutrition {Research and Practice), wh￿h falled to
re¢Nit sufficient students in 2021. We are reviewing our postgraduate prOVi￿On and awnlng to launch now ¢ourses.
2) Twenty students graduatsd In 2023 w6th the BSG in A(yJpuncture, four of tha$0 wllh Ilrst class hort)urs. F￿&
studénts gradualod with the Msc in Nutrition Science and Practice, ono Wth distinction. Two stud8nts wadualgd
with the Msc In Chlnese Herbal Mgdicin&. one with distinctlon, and Ihr88 students 9raduated wllh the PGDip mi
ChIn￿e Herbal Medicine. One Student gr&JuatwJ wlih Ihe Msc in Advanced Nulribon {Res8arch and Pract￿￿1.
31 Rates of students wtthdrawlng, Suspandlng stu(ty, transfgrrfng to part-tim8 study or splittsng year of modules
over tsyo years continugd lo wn at a much higher rate than prior to the Covid pandemlc. C￿$8$ stated by sludent8
were primarily finandal and heotth-relaled. This was a dear effact of the comblnaUon of tho cost of living crkls and
the longer tem health effects followlng the Covid-19 pandemic.
41 Thls ygar teathlThJ and leamSng returned to rolalive nomialty in the wake of the pand8ml& Some ¢￿sseS In
a¢upuncture and nutrilKJn remained onllne. and th8 herbs course continued to run as a mo9￿Y online c(NJrse. Tho
cupunclure dlnlc is operating Sn pre-pandanlo forni, the nut￿tiOn cllnlc now offers cllents a thoice of face to faco or
onlinè appoinlments, and the horbs dlnlG now opgrates entirely onlino.
5) We cantinuod our academlc enhancement acovities. Induding work on collegfr￿d9 enhoncemenl themes. and
we began work on developing c¥Jtton8 for now oour88s.
6) In the National Studant Survey we achiaved scores that were atty)ve the HE healthcare 8¢dor aver40 for 16 (Mrt
of the 26 irbdivldual questions. In the T8achiw Excellencè Framewotk we achievod a bronza overdll, comprlslng a
sllver forlhe student 8X￿￿enCe and bronze for sludenl OLrtcome$.
7) MembeT8hlp of our onlin8 Practitionor Hub Contin￿1 to grtrw. The Hub contsnugd to provide an or￿In8 communlty
for our alumni and other practllioners. with CPD courses and Iho Op￿on to loln online supervision groups. Th1$ yfjar
the Hub began to offer in-person CPD courses to complemont the online cour$es, and we doveloped B one year
onlir* CPD courso in Chinese M8dicina Nutrition. which recTuW 21 Students for a start In October 2023. Th& Hub
also r8n a very well re¢eNed NCAweekend conferencg in Yor

NORTHERN COLLEGE OF ACUPUNCTURE
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPOR
(CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
8) Our teachlng dlnks conlnued to offer a hlgh quallty prOfe￿onal serwce at much r8due8d rates, both to th810(¥l
communlty and. In the case of the online dbnlcs, 8180 lo people fijrther afiehj. Patient $utveys and feedba
generally domonslrale a high level of satisfaction.
91 We continued to devebp our research activity, with a particular focus on the first pilot stage of a me4or sludy of
acupuncturo and nutrition for alrfal flbrflk￿on.
101 College staff continued lo contrltrrtjte to thè th of our professi￿tal bodies and the HE sector In a varlèty of
ways.
11} Staff development activity arKI researth and scholarshlp acirvTty continued, wllh som8 teachlng staff 8ngaging in
high levels of research and scholarship activity.
121 Wo rgport on 3 publicallons 3 0)nfererKe presents￿0￿ by Msc alumnl.
131 Our validating Partr￿lsh[p with the UnNer8ity Coll8ge of Osteopathy IUCO} conlknued Into Its thlrd yoar,
enabllng our students lo continue to aecess student 108ns and providlng a supportive parb)8tship wlth an HE
prO￿d$r that teachè8 cognate subject areo$ and understand8 the particular challenges fry small spe¢iak'st
prowders.
14) We review￿ (Mjr overall 6tralegy and identlfiod opwrtunllle8 for develcpmènt of new courses.
Financial rovlew
W• had a suiklus of £10,031 In 2022-23. following on from 2021-22 when we h8d a defldt of £55,391. Our Intske of
new students In 2022 was reasonable consi¢Jering the finandal uncertainl￿$ caused by the current cost of INing
c¥i$is, but numbers wern lower overall. In additKJn. we again exp8rign¢ed higher Ihan 8xpected rates of students
wilhdravlng, Intemjpung study, trarnferring to part-tsme study or #preading one y8ar of study ovar tsvo yaars. Our
anatysis of thls shows that financé and health were the primary causes of student drop out. However, our
8xp8ndlture was well contrdle(18nd the final otJIr￿n8 was a surplus.
Our careful advance planning has meant that we have been able to functron 8ff8Ctn181y throu￿ first th8 pand6mic
and Ihen the cost of INing crisis. but the affe¢l on the Ilvey of our mature student population continues to Impact on
us. We are undertaking detailed planning for new income generation and this combin8d with our usual adaplability
11 enablè us to continu8 to provide our educational and dinical serylces whlle continuing to invest prudently in
actlvllles and wojects whl¢h are expectèd to benefit our futtjre income. and whth will fvrther advance our
charitable objectives. In the meantime. wllh a small surplus In 22-23 w8 have been able to protect our minimum
reserves, enabllng us to face any fiJlw8 uncertoSnUes with confidence, and protecting th8 overall financlal health of
the College.
It is the policy of the charlty that unrestricted lunds whlch have not boon dasign8te(I for a 8peafic use should te
malntained at 8 level of not less than £185,000 eath year. The trustees consider Ihat reserves at thls lov81
ensure IhaL In the event of a Slgnlflcanl drop in funding. they ￿11 be able to wntlnue the charty's current activiti8$
while consIdera￿On is given to W8y8 in whith additional funds moy be ralsed. or they wll be ab￿ to decide to dose
their course5 to new students but ¢onliiu& OPgTaling while existing students Gompl8t8 Iheir studi&s. Tha unrestricted
fvnd balance as at 30 June 2023 was £298.639 {2022.. £286,763>. Additional reserves are being hold for use In
proigcts Indudlng 8UPPOrtlng students with Iheir research projects. The restrf¢tsd fund balance as al 3D June 2023
was £16.86012022'. £18,705>.
Internal Control
Wa malntaln a 'rfsks and Issues registert whlch Is considerod by our Board8 8NI Commlttee8 regulat1y throuyh th8
year. reviewed by tho Board of Dire¢torsffjwslees, and used to inform future plannlng In Ilne wlth our charitablo
objecllves. When a Board or Committee identifies A Changed or increased risk. or a new risk, this is 8scalat8d to th•
Board of DIrectOrs￿ruste8$. The reglsler Includes a scorlng System fr)r the IlkellhoNJ of rlsks becomlng a reallty. the
impact of rksks rf they become a mality, the degree of control wg have over the risk, and the wi881ble 8p8od of
escalation of thg risk. 1I5ks that are (x)V8r8d include buslness, cyerational, compliance wSth law and regulatory
bodie3, finandal, management and govemance. ond customer soryke risks.

NORTHERN COLLEGE OF ACUPUNCTURE
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT)
(CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
The dLrt￿S of the Board of Dlr8ctorsrrru$tses Indudo dutles trj "monltor Iha profgssic￿a1. comm8rdal and
reputstlonal rl$ks faclng Ihe College, ensuriryd that ther¢ are effe¢tiVo systsms of control and risk managemenv and
to 'onsure that the long-term vialxlity of the CrAlego is maintained through m¢)Nloring the performance of the
College. induding financial and managerfal aspecls". To oSSlSt in Ihese duties the Board recebves Fewrts from Ihe
Resources Committee and Prlnclpal at every meeling.
No sign￿¢an1 intemal Control w•aknesses or failures have arf86n durfng %)22-23 or since the year end.
Plans for fulure perfods
Out ov8rall stralryic airn5 for 202&2026 are:
1. To advance the 8ublect areas and professions in our ar&qs of Intere8( grow tholr professionallsation and rgs9*1
base to promte acceptsnce of our disciplines the wider publi¢ good.
2. To Prowde an Incjuslve. 8UPPOrtfve. high qualty. ros&arch informed and slimulalng learnlng en￿ronm￿￿ for Ihe
dIver￿ty of our 8tudenl populatknn.
3. To achigve a stablo and sustainable po8ition for th8 Collage vrrithin the hIg￿r education sèctf.
In support of Ihese dims. our K￿￿tIeS are:
1. We bvill enhance tsur approach to teach￿g. leaming and studant ￿pport Nthlch engages Students and enables
their leamino and personal groth for Ihelr fubJre succes8.
2. We will str￿gthen our endeavours lo u￿le￿In Subject and edu¢atK&nal activitss wrth researth, by
contributing to and $1oering resaarch initiative8 which promote Iho und8r8tanding of our dlsdplines ond evaluate
thelr efficacy. and by developlng relevant collaborations in both oducatlon and research.
3. We will create opportunltles for lh8 passion arKI enthusiasm of our 8taff to omerye, by continuing and
strengthening our commiknent to ongoing stsff devdopment whlth support8 Students in their professional
development, en￿Urage$ th8m to work at the College, and enh*Kes sludonts, leaming oxparign¢e.
4. We will create stages sustalnable gro4th for our educalK*nal prow&on and wlll ￿eW our Idenllty to ensure It
is frt for the future.
5. Wo will continue Io engage with regulatory d8v8lopments in UK higher ethcation, worklng vAlh profe881onal and
stalulory bodies, pursulng our own degree awarding powots. and 8thSevlng a change In our Office for Stydents
statu8 to fea c8p provlder.
6. We wlll dgvolop out IT infrastrU￿re, ensLAdng that it meets the needs of all aspects of the College's actmty.
e have Idon￿fle￿ 8av6ral opportunldes to davelop now o)urses. which expg¢ted to Gcffilrfbuto to InGrgased
incomè trom 2024.

NORTHERN COLLEGE OF ACUPUNCTURE
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORn
(CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
structur•. gov•rnancg and management
Th8 charity is a company limited by guarantee and accordingly ha8 no share capital.
The trLi8lees, who are 81$0 the d1￿CtOrS for thè purpose of company law. arKI who served during the year and up to
the dale of svJnature of the financial staternenls were..
K Wicklow
J R Galloway
ECL5u
H T1￿Ma8
N Haire$
DJay
G Webb
H Lansdown
T M Horta Rels da Sllva
(Resigned 14 October 2022)
(Appointed 20 October 2022)
{Appoinled 9 February 20231
The serving trusle8s have the rxiwer to co opt new truslees. New trustees are ass18ted through their induction by
exBling tnjslees and officials of the charlty- None of the trustees has any benefldal Inlerest In the compony. Al of
e trustoes aro membpTS of the G¢ynpany arKI guarantee to ￿ntrIbUto £5 In the gvent of a wlndlng up.
Quallfylng thlrd party Indwnnlty provSslons
Th8 duties of thg Board of DirectOrn￿rUste0s am..
To ensure the College's sustainability by Working wth the Principal and management team to agree the
Cdlege's ￿S￿￿1￿h110sophy, and straleglc dire¢Abn.
To ensure that the vision and ethos of the College are sustained and that thè College works to achieve its
stratègic aims and charitsbl8 objè¢tives.
To ensure that the lon*lerni viabilty of the College is maintained through monitoring the performance of
th6 Collegè, including finan￿al and managèrial aspects.
To monitor the Professional, commercial and reputational risks facing the Coll8ge, onsuring that Ihere aro
effecbve system$ of Control and risk management.
To protect the reputotion of tha Coll898 by being assured that cl8ar regulations, policies and prooedures
that Odhere lo legislalNe and regulatory requirements are in ploce, ethiG81 in noture, and folk)wed.
To uphold the College's Code of Practice on Freedom of Speech and to en$ure that academic staff have
freedom wlthln the 18W to questlon and lèst received wisdom, and to pul forward new Sd88s 8nd
controversial or unpopular ormnions. without plaong themsefves In leopa￿ of loslng their jobs and
privileges they have al the College.
To re¢eNe assurance that academic governance is effective by working with the Academic Board to
maintain a¢ademi¢ and rosearch standards, ensuty enhancement of teaching, leaminu and assessment,
and ensure that academic risks are effecbvety managed".
To promote equality and diversity throughout the institution, induding in rdation to its own operation.
To work wth the Principal and managament team to be assured that effective ￿ntrol and du8 dilig￿($
tske Pla￿ in relation to institutionally signrficanl extemal activities-
To review demands made by the processes of university validation and profrssional accreditation, assess
the re80urce implications of these demands, and determine what fysponse the Cdlega should make.
To ansuro that thg Coll*ge'$ govornan¢g structu￿S and pro¢8$$gs are fft for purposg by rgferenciry Iham
against recognised standards of good practice, including the HE Code of Governance.
To appolnl the Princlpal, Support and lo advi86 h1Mfft￿r In delfvery of the College's oblecuves, and
temiSnate hlslher contr8cI as appropriate.
To appoint &ithar ￿ Dirodors or one Dir8Ctor and on8 Sen￿ m8mb8r of tho Collage stafl lo undertak
appralsal of the Prlnclpal.

NORTHERN COLLEGE OF ACUPUNCTURE
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT)
(CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
To receivo requests for medlatlon from staff arKI implement medlatlon processes as appropriate. when the
College's standard processes lindud*o the "sor￿n9 OLrf' process) havg been used without athlevlng a
satisfactory outcome.
To recelve appeals at the appeol stagè of th6 staff dlsclpllnary and grfevancg pr￿￿duras, and to
nominate a Director to decide on the appeal.
To nominolo on8 or more Directorls) lo th8 Hgoring Committee of the appeals 8tsge of the student
grfevance procedure or of the Student dSsclpllnary procedures. when approprfate.
' Indudlng partngrshlps B ciAlaboratp)n, recrultment an¢J reten￿n of students. provl$lon of infumatKJn, qualty
assurance and r￿arch integrity.
**
Extemal activitiès wllh substsnts'al potenllal for finanrAal or reput8tional rSsk, Including fund-ralslng, dona￿On8,
corporate sponsored research, subsKliaries. partner8hips and other c4)mmeroal activities.
Audltor
In accJ)rdan¢8 with tho companys articl05, a resolution proposing that Henton & Co LLP bè reapp01n1￿1 as auditor
of the ￿MpanY will be put al a General Meetlng.
Dl8closurn of Intomiatlon to audltor
Each of the trustees has confirmed that thèrè is no Information of vthich they are aware which is relevant to the
audit. but of wh￿h the auditor is unawdre. Thoy have further confirmed that thgy have taken akwropriat& steps to
Jentlfy such relevant Informatic￿ and to establish that the auditor is aware of such inf0m￿tion.
The trustees, report, In￿dIng tha str8tagic report. was approvèd by the Board of Trustees.
H Thomas
Trustee
19 October 2023

NORTHERN COLLEGE OF ACUPUNCTURE
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 30 JUNE 2023
The Iruslees, who are also the dlrectors of Northern Collège of Aeupuncture for the Purpose of company law, are
responslble for preparfng the Trust6a8' Re￿rt and tha ffinanci818tatemenls in acts)rdance with applicable law
Unlted Klngdom Accountlng Stsndards {Unlted Klngdom General￿Accepted Accounllng Practi￿1.
Company Law r8quir8s the trustegs lo prepare finanual ststem&nt8 for eath finandal year whlth glve a tru8 and fwr
view of the state of offoirs of the charity and of the inooming resources 8pplicati)n of re8wr¢es. irduding the
income 8nd expenditure. of the charitable company for that year.
In pr•paring these financial statements, the INstees are required to..
- selert suiloble accounUrwJ polldes and then atply them ￿n819tenty,.
- obseNe melhods and prirKipl8s in tho Chariti8s SORP"
- make judgements and estim8t88 that are rn880n8ble and prud￿1.
stale wh8ther appli￿1￿8 UK Accounting Stsndard$ have boen followed, Subioct to any material dgpartur&s
dlsclosed and explained In the finanual statements., and
- prep8fe the financial ststements on the g)Ing (x)ncem basis unless il is inappropriate to pr88ume Ihat the charfty
11 continLre in opgr8tlon.
The trustees are responslble for keeping adgquale accountlng records that disclose wth reasonable accuracy al
ony bme the finanGIo1 posibon of the charity and enable thom to ensure th* the finanryal statements comply with the
Companies Act 2006. They ara also responsible for safeguarding the assets of the charity arKI hence for taknng
re8son•ble steps for the preventknn and detection of fraud and other irregularitK88.

NORTHERN COLLEGE OF ACUPUNCTURE
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF NORTHERN COLLEGE OFACUPUNCTURE
Qplnlon
We have audlted the financlal statsmènts of Northem College of Acupurthre (the 'charWI for the year ended 30
June 2023 wh￿h (x)mprise Ihe statement of finandal activ￿eS. tha 8tst8ment of financial position, th8 ststement of
cash fbws and the notes to the financial stat8rr*nts. includiro a summory of signlficant acc￿ntI￿ policies. The
finanThal reporbng framèwork that ha8 been applled In their prèparation is ap￿Icable law and United Kingdom
Accountlng Stsndards. Includlng Flnancial Reporting Stsndard 102 Tho Finan¢ial Reporting Standard applicable in
th9 UK and Rgpul)li¢ of Ireland Iunited Kingdom GenerallyAcc6Pted Accounting Practieèl.
In our O￿niOn. Ihe finanaal ststements..
give a true and falr viaw of the stale of the ¢haritoble companys affalr8 a8 at 30 June 2023 and of its Incoming
resources and application of resources. for the year then ended.
hav8 been properfy pr8pared in accordance with United Kirwom General￿ Accepted AKountirvJ PActice,'
and
have been preparad in accordance with the regulrements of thg Companies Act 2006,. and
In all material aspects meet Iho requirements of th& OfS'$ accounts direction.
84$1$ for oplnion
W8 conducted our audit In accordanca wth Intemational Standards on Auditing {UKI (ISA8 {UK)} and appli￿ble
law. Our reskK)n$ibil1t￿S under those $tsndard$ are further described in the AuditoPs responslbillties for (he audit of
the fvJanci81 statements $8Ctlon of our reporL We are Sndependent of the charity In accordan￿ with the ethical
requireTrxnts that are relevant to our audit of the finanGk41 statements in the UK, including the FRC'S Ethlcal
Stsndard. and we have fufllled our other ethical responsibilities in acce￿ance with these requlremenls. W8 b8lieve
that the audit wSdonce wa have oblalnod is sufficlent and appropdate lo provid8 a basls for our oplnlon.
Concluslon8 rolallng to golng ¢onc•rn
In oudrling the fin8ncl81 statements. we have conclu¢Jed that th6 Iru8tseg' use of tho go5ro ¢oncem basis of
a￿OuntIng In the preparation of the financial sl8tsments is appropriate.
Bas*J on Ihg work we h8ve parformed. w8 have not Iden1bf￿ any matsrfal uncertaintie$ relating to events or
conditions that. individually or colleGtlvely. may c8s1 significant doubt on the d)8rfty's ability lo continue as a gThng
conc£m for a wiod of at least twafve m¢￿th$ from when the finandal statements are authorised for18SUO.
Our responsibilities and the mswnsl￿llllo& of the trustees wllh respect to goiry ¢))n(*m oro dèscrfbed In tho
rO￿vAnt seclion3 of this report.
Oth•r Inforrnation
Th8 other informallon comprlses the infomation Indudgd in Ihe annual report other Ihan Ihe ffiriancAal statements
and our auditofs report thereon. Th8 trustees arg r9sponsible for the other infornation contained wlhin the annual
report. Our opinion on tho finanaal statemènts does not cover the other information and we do not express any forni
of as5ur8nce conclusion Ihereon. Our responslbility 18 lo raad the other information and, in dtyng so. consider
whether the olher Infomallon Is matsrially inrA)n$l$tent with the financlal ststemenl$ or our knowledgè obtslned in
the course of the audit. or otherwise appears to be materially misstated. If we identfy $uch material ￿cOnsistenc1e$
or 8pparenl matsrial misststsmenls, we are required to determino whothgr Ihls glv6s rise to a matgrfol misststement
In the finanGKqI 5tstements themsefves. If, bassd on the work we have perfomwj, we ¢ondude that there is a
materfal mlsstatsmont of this olh8r information. we are required to r8p(N1 that f8Ct.
We have nothing to raport In thls regard.
Mattors on whlch wo ar¢ requlred to rnport by ￿￿ptIon
We h8v8 nolhkng to report in rgspact of the following motters in rdalion to which the Charitiès <A￿Ounts and
Reports) Regulat￿nS 2008 r8quir8 US to report to you if. in our opinlon:
the Information given in the finanGlal statements is in¢onsist8nt in any Material respect with Ihe trustees.
rgPQrt.' or
8ufflclent acoounlng records havg not been kep( or
Ihe flnanclal slaÈemenls ara not In agreement wth the accounllng records: or
we hava not r￿¥8￿ all the infomiallon and axplanations we r&Juir8 for our audll.

NORTHERN COLLEGE OF ACUPUNCTURE
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF NORTHERN COLLEGE OFACUPUNCTURE
R•sp¢)nsibllltl•$ of trust•
As explained moro ￿llY tn thg statement of trustees. resporksrbllmles. the truste88. who are also the directors of
charity for the purFrt)se of company law, aro responsible for the prepar8lon of the flnanaal Ststements and frjr bglng
satisfied that they give a true and faK view. and for such intemal control as the trustees determine is necessary to
enable the preparation of financval statem8nts that are free from malarial misstatement, whether due lo fraud or
error. In preparing the fln8ndal stalemenls. the Iruslees are responsible fr)r a$sesslng the chartty's ability to
continue as a going ¢onc8m, disdosing. as appllcable, matt8rs related lo going concem and uslng the going
concern basis of aecounting unless the Iru5tees either intsnd lo liquidats Ihe charttab19 Company or to c888e
operation8, or have no realistic allemalive but to do so.
Audltorfs r￿ponSIbIlItI•$ for tho audlt of th• flnanelal ststgmgnts
W8 have been 8ppolnted as auditor under section 144 of the Charlttes Act 2011 and rgpc*t in a¢¢ordance wrth th
A¢t and relevant regulalkjns made or having effert thereunder.
Our oblectlves are to oblaln reasonable a3suTance aboLrt vthelher the financial Statements as a whole are free from
material misstatement. whether due to fraud or error, and to issue an auditorfs report that includes our opinion.
Reasonable assurance is a high level of assurance but is not a guar8nlee that an audlt condueled In accordance
th ISAS IUKI will always d91oct a matsrfal misstatement whon it exists. Misstatsments can arlse from fro￿1 (Y
error and are conside￿d material if. indiwdu811y or in the aggregate. they could reasonably be expected to influenco
the economic declsK)ns of users taken on the basls of these financial ststemgnls.
Irregularflles, Including fraud. ara instances cf non-compliance wth laws an¢J regulations. We deslgn proceduras in
line our responsibiltbes. outlined above. to detect material misstatements in respect of irregularibes. incjuding
fraud. The extant to whlch our prctedur8s are Gapablo of detecting irregularities. including fraud, Is detsbled bekhv.
We have obtained an understanding of th8 legal arml r8gul8tory frarrowork appllcablo to tha Charfty through
dlscussions ￿th senior management and r￿eW of the ￿gu￿tr)ry framework of any professional or membership
bodl&s that the Charity is a part of. The Charfly uses third parties to ensure that it remalns up to date with changes
arKI lo rawaw ¢omplSan¢8 with all ts Iggal and regulatory requirements. In ma￿r￿j our a88essment of detectin9
Irregularilies. includitYJ fraud, we have discjjssod the issue with manogemenl who have advlsed that therè havo
baen no changes and the Charfty remalns compliant with its l$g81 and regulatory r8quir8m8nl. Nothing ha5 been
brought
In
completlng
our
8udlt
that
eontradicts
thls.
The laws and regulations Klenllfied as $vJnifKanl includo Companies Act 2006, charfu￿ Act 2011, Ihose producod
by th8 offi(% for Students. heallh and 88f6ty leglslallon. employment laws. dats wotecbon. and relevant tax18WS.
In making our 8SS8$sment of the su￿eplb1l1ty of the Charitys finandal slatements to malerlal ml$statem6nt. we
have also considered how fraud mpahl occur. Our risk assessment procedures indude: enqulry of members and
management lo understand Iho htgh level pollcles ond procedu￿ in placE to prevonl and detect fraud and reading
Board minutes.
As a r8suIt of these procedures we Identffiod lh8 greatest potential for fraud In the follovAng areas:
revenue recognitKJn and in particular th8 risk that ravenu818 reco￿•d in the WTong pgrfod: and
subjec￿Ve a¢countirbg estimate$.
Both risks arise due to a polgntial desire to present strongor results. A8 requlred by auditlng stsndardg we 8180
idenllfied and 8ddressed Ihe risk of management override of contrds.
We performed the followkng pro¢edLThS to Address the r18k8 of fraud Identified:
revlewlng financial sLitemant dlsdosures and testing to supporting documenlauon"
8uditing the dsk of management override of controls, Indudbng through testing joum81 entries and other
adjustments for approprfateness, and evaluating Ihg trwsln888 ratlonalo of Significant transactKJn$ outslde
the nomal ¢our5e of busin8SS'.
ossessing signfficant accounllng estimates for lyos., and
tosling the IlmlryJ and rocognIti￿ of incnme and. in p8rtlcular, that11 was appropriatgly recognlsed.

NORTHERN COLLEGE OF ACUPUNCTURE
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF NORTHERN COLLEGE OF ACUPUNCTURE
No Instances of matwial mi$slat8m8nt or fr8ud have been noted in the audlt of the accounts for the year eThd￿J 30
June
2023.
Th6 engagemonl partngr has assesse(l that the gngagement team has th¢ appropriate compelenee and capabilities
to identlfy or re¢(￿nISe nonrycompliance with laws and regu￿tIonS, affecle(I by the Inherent dlfficajlty in detecting
irregulaiities, th8 effectiveness of the Charitys controls, and the n8ture. timing and extent of the audit prrKedures
perfomgj. No matters of non-complianc8 with laws and rogulations and fraud were idenullod by the engagement
team.
Our audlt procedures were designed lo r85wnd to dsks of matsrial mbsststement in the financial slatomonts.
recognlslng thal the rlsk of not detectlng a matsrial misstatement due lo froud is higher than the rlsk of no detectirg
onè from orror, as fraud may involve deliberate concealment by, for oxample. forgery. misrepresenta￿0n8 or through
collu$ion. There are Inherent limitations in thè 8udf( procedurgs performed an the furthgr rgnv)ved non-compliance
with laws and regulations Is from the events and tranSaCt￿n$ reflected ￿ the ffinanrAal statements, tha less likely we
8re to become aware ol it.
A furth8r description of our responslbllltkgs Is available on th8 Finandal Reportlng Cou￿11'S website at: hllps:11
w￿4.fr¢.org.U￿a￿dItQr$re$ponsIbil￿68. Thls descjiption fomis part of our aUd￿0￿S report.
Us• of our r•port
Thls report 1$ made so18ly to the djart￿9 Irusteo$, a$ a b￿, In accordance wtth part 4 of the charl￿8$ {Ac￿Unts
and Reports) Regulations 200B. Our audit work has been undertaken $0 that w8 might state lo the charitls trustees
those matters we are required to stalo to them in an 8uditofs report and for nts other purpose. To Ihe fullest extent
pamiitted by law, w8 do not accept or assume respon$ibillty lo anyone other than the charfty arKI the charity's
trustees as a l￿dy, for our audit work, this report. or for the opinK)ns we have fcnngd.
Brott Davi# {Senlor StstutoryAuditorl
for and on boh•lf of H•nton & Co LLP
Chartored A¢¢ountants
Statutory Audltor
124 Acomb Road
Yo
Y024 4EY
19 October 2023
Henton & Co LLP 18 ellgible for appolntment as audltor of the charity by virtue of tts ellgibility for appointment as
audltor of a company undar section 1212 of the Companies Act 2006.

NORTHERN COLLEGE OF ACUPUNCTURE
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITUREACCOUNT
FOR THE YEAR ENDED 30 JUNE 2023
unr￿trIC￿d Rostrf¢tod
funds
funds
2023
2023
Total
Unrostrlcted Restricted
funds
funds
2022
2022
Total
2023
2022
Notgs
n¢ome from:
Charitsble 8clivilies
Investments
1,046,158
3.200
1,046,158
3.200
1,098,565
1.193
1.098,565
1,193
Total incom•
1,049.358
1.049,358
1.099.758
1,099.758
Ex
ndlbjro
Charftsble activtli85
1,037,482
1,845 1,039.327
1.155,149
1,155.149
Net incom•llexpenditurn)
for the yearl
Nèt m1￿MOnt in funds
11.876
(1,8451
10,031
155,3911
{55,3911
Fund balances ot 1 July
2022
286.763
18.705
305.468
342.154
18.705
360,859
Fund balanc•s at 30 Jun•
2023
298.639
16.880
315.499
286,763
18.705
305,468
Th8 statement of financial acllwlies indude$ all gains and108ses recwnlsed In the year.
I Incomè and expendlture derfve from conllnulng actiwties.
The staternent of finandal act1￿lIeS also ¢LYnplleg with th8 r8quiromonl$ for an In¢om8 and expendliure aecount
under the CompanN8s Act 2006.
10-

NORTHERN COLLEGE OF ACUPUNCTURE
STATEMENT OF FINANCIAL POSMON
AS AT 30 JUNE 2023
2023
2022
Flx•d Msets
Tangiblo a880ts
11
13,951
15.118
Current a8s0ts
Stocks
Debtors
Cash al bank and ￿ h8nd
3,600
42.671
470,125
3,600
45,315
464.995
13
516.396
513,910
Cr•dltors: amounts lalllng du• wlthln
ong y•ar
14
{214.8481
(223,5601
Nel current a88ets
301,548
290.350
Total assets le88 currnnt liabilitiè8
315,499
305,468
Incom• funds
Reslrfcted funds
Unrestrfctsd funds
16.860
298.639
18.705
286.763
315.499
305.468
The wnpany is entiued to the exeMP￿n from the audft requlremgnt ￿ntained in section 477 of the Companies Act
20C6, for thg yeor ended 30 June 2023. alth1￿9h an audit has been carrièd tyjl undor soc￿n 144 of the Charltie8
Act2011.
Th8 (Ilre￿Or5 acknowledgo thoir responsiL¥lriios for ¢omptying wrth the requiremerrts of Ihe Companies Act 2LN)6
ilh r8spect to accountiThJ records and the preparatiw of financial 8tal8ments.
Th8$e finanaal Statsmonts have been preparod in acLordan¢e wlth Ihe Pro￿810n$ oppllc*bl8 lo companies subloGt
to the sm811 companlgs reglme.
Thg financi81 slalements were approved by the Trustees on 19 October 2023
DJ8y
Trust••
R Blackwell
Accountablo Offlcor
Company R•gi8tratlon 140.
2400056
11

NORTHERN COLLEGE OF ACUPUNCTURE
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2023
2023
2022
Cash flows from op8ratlTrg aethittl•$
Cash ganerated fron￿18bSQrtjed by)
operat
19
5,228
{15,3761
Inve¥tlng acthiltles
Purchase of tangible fixad assots
Investrnent Income received
(3,298)
3.200
(2,988)
1.193
Net tash used In Investing activiti•s
(98)
(1,7951
Ngt ¢a$h u8•d In Ilnanclng adlvlll•8
Not incre¥selldecrthis•P In cash and Cash
equ6valents
5.130
{17,171)
Cash and ¢8sh equlva￿nts at b8ginnlng of year
464,995
482.166
Cash and ca8h equivalents at end of year
470.125
464,995
12-

NORTHERN COLLEGE OF ACUPUNCTURE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
Accounting poll¢l
Charlty Infomiatlon
North8rn College of Acupuncturo bs a private company Ilmfited by guarantee incorporated In England ond
Wale8. The registered offlce is 61 MlckJeg8le. York. Y016LJ.
1.1 A¢¢ounting ¢onv•ntlon
The financlal statements have boon prepared in accordance with th• the Companies Act 20Cfj. and
"Accounting and Rekx)rting by Charities.. Slalement of Rgcommendad Practice applicable to charities
preparlng Ihelr accounts in aco)rdan￿ ￿th the Flnanclal Reporting Standard appll¢able in the UK and
Republlc of Ireland IFRS 1021 {effactive 1 January 20191 and Regulatory advice 9: Accounts dlrection is$u9d
by the Offica for Stud8nts. The tharity 1$ a Public B8n8fil Entity as dofined by FRS 102.
The financlal statemonts are prepared In 8tedlng, whh* is th¢ functional currency of the chwlty. Monetsry
an￿)UnIS in these finanaal ststements are rounded lo the nearest £.
The finandal statements have b•en propared under the historical cost ¢onvenlion. Tho principal accounting
Pdic￿ adopted ar6 sel out bglow.
1.2 Goln9 COn￿M
At the tlme of approving the tlnanclal statements. the trustees hava a r6asonablo expeclatlon that the charity
has adequate resourcas to conl'nuo In operational existence for th& foreseeable fulure. Thus th8 truslees
ontinue to adopt the golng con¢8rn basis of accoun￿n9 In preparing th8 financial stalaments.
1.3 Ch•rllabl• funds
Unrestricted funds are available for uso 81 th8 diserètion of the trustees in furtherancé of ther charilablo
obJe¢tsve$.
Restrlctad funds are subpct to specific COnd￿onS by donors as to how they may b& used. Tha purposes and
uses of Ihe restrictod fvnds ore sel ¢yJt in the notes to the flnanclal Stalements.
1.4 Incomo
Income 15 re￿gnISed wh8n Ihe charity is legally entlued to it aftor any perfonnanc8 ¢*ndilion8 have b8en met,
the amounts can be measured rellably, and11 Is probable that income will be received.
Fge 1$ recognisgd in the period in which stu{J￿ts aro Studwng.
Cllnlc recelpts are recogni88d In the pedo(J In which the sorvice is provided.
Grants for Immedlate expenditure are a¢counted for whan they become receivablè. Grants received for
$p8ofic purpose3 are tre8tsd as restricted fvnds. Grants whlth are re￿¥9￿ for ftAlur¢ accounting periods are
deferred and rewnbsed in those Peri(￿.
IrKomg from tho sale of goc#ls Is rgcognised when receivabl8 by th8 tharity.
Rent Is recognBed when recelvable by the chaiity.
Interest is rèwJnlsed when rocgivable by the Charity.
13-

NORTHERN COLLEGE OF ACUPUNCTURE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
Accountlng policios
ICoTrtinu•d}
1.5 Exp•ndlturn
Expenditure Is recLJgnSsed on an 8ccruals basls 85 a Ilabllty18 Incurred and 13 dassified under the froadlngs of
the Statement of finanaal activities lo whic* il relates:
Expend1ture on charltable aelivities indudes all costs incurred by a ch8rtty in undertaking adNiti¢s that further
Fts charitable aim8 for the benefit of its ￿nefi￿ari&S, including thos8 support costs and costs relating tr) the
govemance of the tharity apportioned lo Gharttable wAlvitie
All costs aw allocated lo expendlture categories reflaclng tho use of th8 resour¢8. Dkect costs attributablg to
a slngle actNity #re alkncatsd dlrecuy to th8t acbvity. Shared costs are apportioned be￿en the actiwbes they
contribute lo on a reasonablo, lustffiable and consislenl bags.
1.6 TangibJ• fixad assets
Tangible fixed assets are Inlllalty measured at cost and subs8qu8nlly mea$ur8d at c￿St N valuatlon. net of
depredatlon and any impairment Ios$88.
Depreciation is recognised 50 ￿ to wr6te off the cost or valualron of assots 18S$ their rnsidual value5 over thfjlr
useful lives on the following bg8es'.
Fixturns and fittings
15%120%125% reducing balanc
The gain or Ios5 arfslrwJ on th8 dlsposal of en asset Is delernlned as the diff8rence betr￿n the sale proc8•d$
and the carrying value of the asseL and is recognls8d in the Statement of finanGio1 activ￿eS.
1.7 ImpalM￿nI of fix•d a￿ets
Al aach reporting end date. tho ¢harlty revlews the carrylng amounts of its tangible and Intsnglble assets to
detemiine whether there 1$ 8ry indication that those assets have suffered an impaivmenl loss. If any suth
Indlcalion exlsts. the r8coverable Omounl of the asset Is eslimat8d in order to del8Thine the gxtent of the
impairngnl loss IW any).
1.8 stocks
Stocks are stsled al the l¢)wgr of co81 and estlmatgd Selllng pdc6 less costs lo complets and sell. Cost
comprises direct materials and. whore apKAicable, dired labour costs 8nd those overheads that have been
In￿rTed In brlnglng the stocks to their present location and condition. Items held for distribullon at no or
nominal cthi$id8rabon are m8a8ured the lower of repl*8ment cost and cost
Nat realisablo value is the estlmated selltng price less a119sllmaled costs of comp18th)n and (x)sts lo bè
Incurred in markeling, selling and distribulion.
1.9 Cash and cash •qulvalonts
Cash and cash equSvalents indude cash Sn hand. deposits hald at Call with banks. Qthgr short-lerm Ilquid
irwestments wilh original maturities of threa or18s5, and bank overdrafts. Bank overdrBft8 are shown
wthin borrowros in Current Ilabllllies.
14-

NORTHERN COLLEGE OF ACUPUNCTURE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
A¢¢ountlng pollcl•s
(contIn￿dI
1.10 Flnanelal Instrum•nts
Tha charity has electod to apply the provisions of S8¢*n 11 'B8sic FinancAal Instruments, and Section 12
'Other Financ481 In$Érum&nts Issu8s' of FRS 102 to ￿1 of its financial instruments.
Financial instruments are recognlsed In the c*arftYs bal￿re sheet when tho charity becomes party to thg
contractual provis￿n$ of the instrument.
Financial assets arKI liabliti88 a￿ offset. with the net amounts presented in the ffinancial statemènts. when
there is a legalty enforce8ble rlght to set off tha re(£on18ed amounls and thate is an intention to settle on a net
bads or to rea118e Ihe asset and selue the liability slmultaneously.
8aslc fln*n¢ial ass•ts
Basic finon¢ial assets. which includo dgblors and cash and bank balan￿, ar8 infaally measured at
transadion price includlng tr8nsaction costs and are sub80qu0n￿Y caniad at amortised cost uslng th8 effective
interest method unloss the arrangement constitutes a financiig transaction. wherè the transaction is
measured at the presgnt valu8 of lh8 lutura re¢%lpls discounted al a market rale of intsfosL FInar￿la1 assgts
cla88Med as recelvable within one year are not amortised.
Bask fin•nci•l liabHldo$
Basic financial Ilabillu￿. includiro creditors and bank loans are initi8lly recogni88d at transadion price unless
thg arrang8mont constilute5 a lln•n¢ing transaction. where the debt Instrument Is measured al the present
value of the future payments discounted at a mart(8t r8t8 of Intere81. Fin8n¢ial li8bilib6s dassrfied as pays￿&
within one year are not amortised,
Dobt instrumants are 5ubsequent￿ ￿rrIed at amortised co8t. uslng the effecllve Interest rate method.
Trade cre(Jitors are cbIlga￿0ns to pay for goods or servlces that havo b99n acquired in the ordinary couw of
op8rdtions suppliers. Ar￿unts p8yabl& are classffied as current liabilities if payment is due within one
year or los$. If not. they are presented 8$ nonwcurrent liabblttbes. Trade credMor8 are re(£gnlsed initially at
Iransaction Pri￿ and subSequen￿Y measured at omortisad C¢￿ u81ng the effective inler8s1 methoj.
Dergwgnltlon of ffn•n¢lal Ilabllltl•s
Finan￿81 liabilities aT8 dereexYJnl8ad when Ihg charity's contractual obligations explre or ar0 dlscharg9d or
cancollgd.
1.11 Employ•e benoflts
Tho Cost of arsy unused holiday antittomonl is recognised in the peiiod li whl¢h the employee's services are
raceived.
Temiinalbon bonefits are recognised knmediatsly as an expense whon th• ¢harity is demortstrably 1x￿MItted
totgminale the employmgnt of an amployee Or to provide larminalion benefts.
1.12 Rètlrnm•nt b•nefiis
Payments to defined ¢ontribulion retlrement benefft scthemes are Chorged as an e4)èns6 as tlw fall due.
1.13 Cr•dltor8 and provlslons
Creditors and provi8lon8 are recognisod where the charity ha8 a present oblig8tion resulting from a past ￿81)t
that vrill resull In tho transfor of funds to a thlrd patty and Ihe amount due to settle the obllgation can b•
measured or estimated reliably.
15-

NORTHERN COLLEGE OF ACUPUNCTURE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
Crftlcal a¢countlng estlma¢e$ and judg•m•nts
In the applKalion of the chariV8 accounting pdicie8, the trustees are requ￿811 to make judgements. estimot•$
and as3umptions about the carrylng amount of ass8ts and liabilities that are nol readlty app8r8nt from other
sources. The eslimales and associated assumption$ are based on hlstorlcal experience and other f8Gtors that
are conslder8d to be relevonl. Actual results may differ from these estimal8s.
The 8stimates and undgrfwng assumptlons ar6 reviewed on an oroolng ￿1$. Revisions to accounllng
eslimates am recognised in the period in which the estimato 1$ revised whore the revision 8ffgcts only Ihal
per4od, or in the perfod of the rewsion and future periods whara the revblon affect5 both current and fuiure
parl)d8.
Charitabl•
actI￿tItS
T•a¢hln# f••8 Cllnlc r•￿IPts81l$$ Of b¢>Dk¥ Practltloner
Hub
2023
Total
2022
2023
2023
2023
Sales ¥￿thin
Charitab￿ actlvMI8s
953,683
59.803
3,630
29.242 1,046,158
1.098,565
For the y•ar •n41gd 3Q Jun• 2022
T•achlng f••s Cllnl¢ r•e•lptsSal88 of book¥ Prnrltion•r
Hub
Tolal
Sales ￿thIn charitabk8 activities
1,024,024
58.128
3,361
13,052 1.098,565
Note on grant gnd fee income..
22-23
21-22
ranl income friNn the O
rant incomo from other bodies
88 in¢om8 for taught award
(exclusive of VATI
937,228
1.010,944
Fee income for research award
exduslve of VATI
IA
IA
99 In￿me from nonrf4ualfying
urs8s18xclusive of VAT
16.455
13,080
otal granl and fee income
953,683
1,024,024
16-

NORTHERN COLLEGE OF ACUPUNCTURE
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
Inve8tmonts
VnT•Strl¢t•d UnrnstriGt•d
funds
funds
2023
2022
Renlal irKome
Inleresl re¢¢fvable
1.693
1,507
3,200
1.193
Details of grant and f•• Incomè
2023
2022
The source of wnts and fee Income is as follows:
Fee Income for tsugm awards
953.683
1.024,024
Tot81 gr8nt and fee income
953,683
1.024.024
17-

NORTHERN COLLEGE OF ACUPUNCTURE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
Charitabh actlvlt
Coll•g• and College and
clinic
ellnFe
2023
2022
Staff costs
DepTrciation and impaymènt
Needles an(1 moxa
Laundry and $hary)z
Herbs
L&tur8rs fges
Lecturers other
537.155
4,465
3,841
639
7.608
183.603
14,370
562,092
7.563
5,616
2,147
12.497
211,877
11,841
E 11
Universty registration f88s
Taaching alds
Ac¢reditation and valldalion
Library and o-learnlng
Bc*)ks resalg
Research
Other charit8blè expendilur8
24,422
2,387
43,954
13,292
1.202
1,111
197.228
84,375
4,744
45.632
13.187
693
1.780
187,584
1.035.277 1,151,628
Share of govern8n￿ (￿sts {8ee note 7}
4.050
3.521
1,039,327 1.155,149
Analys1¥ by fund
Unrestricte(I funds
Rostrict8d funds
1,037.482 1,1S5,149
1.845
1,039,327 1,155,149
Support GO8ts
Support Govwnance
2023
2022
Autlit fees
4,050
4.050
3.521
4,050
4.050
3,521
Analysed between
Charitable activitses
4,050
4.050
3,521
Govemance costs Indudes payments to the auditors of £4,050 (2022- £3,521} for audll fegs.
18-

NORTHERN COLLEGE OF ACUPUNCTURE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
Tru$t•es
None of the trustees {or any perscffts o)l￿¢Gted wilh them) rec•ived any ramur*ration or b8nefits from the
charity during the year. No Irustse expenses have be6n incurrnd by the chaiity.
Employees
The avernge monthty number of ompWe8 durtng the ygar was:
2023
mUm￿r
2022
Numbor
T8athing
Admlnk8tration
12
18
13
17
Totsl
30
Employment costs
2023
2022
Wages and 8alarfes
Social $8curity costs
Other penslon costs
497,784
30,307
517,944
34.349
9,799
537,155
562,092
19-

NORTHERN COLLEGE OF ACUPUNCTURE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
Employa•s
Icontlnuod
No employe8s re￿IVed empbyee benoffts of more than £60,000.
The head of the Coll•g8 roceiv&J a basic s81ary of £58,656 {2022 . £57,508) and penslon contrfbudons of
£1,321 {2022 = £1,321).
The Principal's basic salary is 1.8 ts"mes12022= 1.7 time81 thè median pay of stsff, where the medi4n pay 1$
calculalod on a full-time equivalent basi8 for the salarfos paid by tho prowder to ils stsff. The Prin￿pal'S total
ramuneration is 1.8 tlmes12022: 1.7 times) the median total romuneralNJn of staff, whera the madlan totsl
remuneralion is calculated on a fvlbtime equivalent basis for the total remuneration paid by th? ctsrity lo its
staff.
There were no payments to Ihe Prindpal In lieu ol pension contrfbulions. of dlvldends, of perforn)anc&r6laled
pay or other bonuses, and no other taxable or n0n-taXa￿e tr*nefits OT Other ramU￿ratiOn. There were no
salary sa¢rtficg arrangements. Al p8nsion contributions are identified 81*)ve.
Justrficatlon of the Princi
rs remuneration
Th8 College is a small HE prov*der, vllh around 200 6tudents, 8nd18 also a registered (a78rity. As is usual for
small providers, the Principal's kgy tssks cover a wide range from the stratègic to the operational, and they
indude flnancial, professional and18gal rasponsibililies as well as Involvement in marketing end managlng th&
88nloi acadèmlc laam.
Tha Prlncipal has been Sn post for 24 years. Under h1816wJ8rshlp the College has expanded Its provL8lon from
one Msc course lo fNe Msc cour888 and one BS¢ course, has survwed sub$tanlTal economic challeThJes.
especlally Iho 2008 banklng crisis. ha$ built up its financial f￿￿8$, and enhanced bts reputatlon as a qualr
provider with a strong ￿mMitment lo research. In rècent years the College has had successfvl r8ports from
the QualityAssuranc8 Agency for HE and been registered with the Office for SbJdents. In the Natlonal Student
SuNey the College consi%ientty athieves hhjh scores for over811 sbJdent satisfa¢bon and generalty scores
which are above the $8Ctor averagas.
The P￿n￿pal'S perfomance 591L￿ed via an annu81 Ferforman¢e review conducted by tsvo m8mbers of the
Boar(l of DirectorS￿nIste8s, and on an I￿goIng ba818 al reguL8r meetings of ￿ Board of DirectO￿￿rUSt$e$.
nsatx)n for103s of office
Thgra were no payments as compensalton for I￿$ of office to any staff memb•r during the year.
10 T•xalion
The chaty is exempl from tax on incom8 and g8lns falling within secllon 505 of the Taxes Act 1988 or sectbn
252 of th8 T8xationof Ghargeable Galns Act 1992 to the exient that thgs& aro applied to rts charilablg objgcts.
-20-

NORTHERN COLLEGE OF ACUPUNCTURE
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
11 Tanglbl• Iixod a889ts
Flxlur•s and Illlln
Cost
At 1 July 2022
Additions
126.755
3,298
At 30 June 2023
130,053
D•prKlatlon and Impalrniont
At 1 July 2022
Depreckgtion charged in the year
111,637
4.465
At 30 Jun8 2023
116.102
Carrying •mount
At 30 June 2023
13,951
At 30 June 2022
15,118
12 Stocks
2023
2022
Raw materio18 and consumables
3,600
13 Debt4XS
2023
2022
Amounts lalllng du• wlthln ono year.
Trade debto
Other debtors
Prapaym8nts and 8CL¥ued inc>Jme
13.231
420
29.020
24,807
1,831
18.877
42.671
45,315
14 Cr•ditorn: amount$ falllng duè wlthln on• yur
2023
2022
Other tsxation and social security
Trade crfjdltors
Othèr creiJitor8
Accruals and deferred income
7.989
24.143
7,391
175,325
9,180
21.346
1Y2,514
214.848
223,560
21

NORTHERN COLLEGE OF ACUPUNCTURE
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
15 R•strictod fvnd8
Th8 Income funds of the chadly Indude resbictgd funds comwising the frdlowing unexpended balances of
donations anfl gr8nts held on trustfor sperific purposes..
Movement
In funds
Ineomlng
r•8our¢••
8alana• ot
1 Jvly 2021
8ahrK• at Rmour￿l B•lonc• al
1 Juty 2022
•xp8nd8d 30Jyne 2023
SuprKrting thdents
18.705
18.705
{1,8451
16,860
16 Analysls of •$$•ts b•tw•en funds
Unro8lrlctsd R•#trl¢tod
funds
2023
Totsl Unrestrlet•d Restrlcted
funds
fund$
2022
2022
Total
2023
2023
2022
Fund balanc8s at 30
June 2023 are
rewesented by:
Tangible assets
Current assetsl1lSa￿1￿les)
13.951
284.688
13,951
301,548
15.118
271,645
15.118
290.350
16,860
18,705
298.639
16,860
315.499
286.763
18.705
305.468
17 Operatlnglgase commltmènts
Al the rfrpotfjng end date the charfty hod olrtstandlng commitmants for fu￿re mini￿lM 18as8 payments under
nOn-can￿lIable opgrallng leases, which fall due as follow8:
2023
2022
Imthin one year
Bgtsveen two and five years
In over fve years
50,000
220,000
110.000
50,000
215,000
165,(XlO
380,000
430,000
18 R•lat•d party transactlons
There were no di5closabl8 r8lat8d paty tranSact￿nS dvrSng the year12022- nonè).

NORTHERN COLLEGE OFACUPUNCTURE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED>
FOR THE YEAR ENDED 30 JUNE 2023
19 Cash gen•ratsd from operatlons
2023
2022
Surplu8lldeficit) for th8 year
10.031
155,391)
Ad￿￿tments for.
Inveslmenl Income rects3nisod ¥i statement of financial athities
Depwialion and Impairment of tanglble fixed assets
(3,200)
4,465
11.1931
7,563
Movements in wLy*ing capital".
Iln(¥easeydecrease in stocks
0gc¥eas8 In debto
IDecreasel in cred￿Or8
2,527
42.051
(10,9331
(8,7121
Cash g9norat•d from1labs0r￿d by) op•rallons
5.228
(15.3761
20 Analysis ol changes In nèt funds
The charity had no debt durfng the year.
-23-

NORTHERN COLLEGE OF ACUPUNCTURE
ADDENDUM TO ACCOUNTS
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2023
Called up
sharè capltal
Total
Funds
Total
AT 1 JULY 2020
355.014
355,014
Surplus for the year
5.845
5,845
TOTAL COMPREHENSIVE INCOME FOR THE YEAR
360,859
360.859
Dividends pakl and payable
TOTAL INVESTMENTS ay AND DISTRIBUTIONS TO OWNERS
AT 30 JUNE 2021
360,859
360,859
(Deficit) for the year
(55,391)
(55.391)
TOTAL COMPREHENSIVE INCOME FOR THE YEAR
305,468
305.468
DIvIder￿S paid artd payable
TOTAL INVEsTME1￿s BY AMD DISTRIBLMONS TO OWNERS
AT 30 JUNE 2022
305,468
305.468
Surplus for the yaar
10,031
10,031
TOTAL COMPREHENSIVE INCOME FOR THE YEAR
315A99
315A99
Diwd8ThJs paid and payaNo
TOTAL INVESTMEKfs BY AND DISTRIBLryIONS TO OWNERS
AT 30 JUNE 2023
315.499
315,499
l ¢onflm that the above figures ha￿ been dgrived from th6 audFted accounts ofth8 company.
Biett Dav1$ (Sonior Statutory Audlto
For and on behalf of Henton & Co LLP
CharteTgd Accounlart & Slatutory Audltor
124 AcorY*J Ro
York
Y024 4EY