2023-07-31-accounts - Nocn Job Cards

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Registered number: 11634699 Charity number: 1182053

NOCN Job Cards

(A Company Limited by Guarantee)

Trustees' Report and Financial Statements

For the Year Ended 31 July 2023

NOCN Job Cards

(A Company Limited by Guarantee)

Contents
	Page
Reference and Administrative Details of the Charity, its Trustees and Advisers	1
Trustees' Report	2 - 9
Trustees' Responsibilities Statement	10
Independent Auditor's Report on the Financial Statements	11 - 14
Statement of Financial Activities	15
Statement of Financial Position	16
Statement of Cash Flows	17
Notes to the Financial Statements	18 - 33

NOCN Job Cards

(A Company Limited by Guarantee)

Reference and Administrative Details of the Charity, its Trustees and Advisers For the Year Ended 31 July 2023

Trustees	Alison Duckles CBE, Chair
	Graham Hasting-Evans
	David Mosley
	Kevin Minton	Resigned 13/12/2022
	Trevor Gamble MBE	Resigned 13/12/2022
	Carl Hassell
	Paul Allman
	Timothy Brownbridge
	Kay Dickinson	Appointed 12/05/2023
Company Registered
Number	11634699
Charity Registered
Number	1182053
Registered Office	Acero Building
	1 Concourse way
	Sheaf Street
	Sheffield
	South Yorkshire
	S1 2BJ
Key Management	Carl Hassell Group Director (Job Cards)
Personnel
Auditors	Armstrong Watson Audit
	Limited
	Thornfield Business Park
	Northallerton
	DL6 2XQ
Bankers	National Westminster Bank Plc
	7 Market Place
	Derby
	DE1 9DS
Solicitors	Andrew Holland Law Limited
	Suite 1, The Bakery
	Millennium Business Park
	Steeton
	Keighley
	West Yorkshire
	BD20 6RB

Page 1

NOCN Job Cards (A Company Limited by Guarantee)

Trustees Report For the Year Ended 31 July 2023

The Trustees present their Annual Report together with the audited Financial Statements of the charity for the year 1 August 2022 to 31 July 2023. The Annual Report serves the purposes of both a Trustees report and a Directors report under Company Law. The Trustees confirm that the Annual Report and Financial Statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company s governing document and the provisions of the Statement of Recommended Practice, 2[nd] Edition (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Chair s Foreword

As a charity we continue to be focused on delivering against our charitable objectives. Like the rest of the economy, NOCN Job Cards was impacted by cost pressures in 2022/23. Despite this, NOCN Job Cards has continued to grow and develop.

In 2022/23 we have continued our significant investment into our digital offer and platform for the card schemes. This includes the development of an online CPCS Health and Safety Test and CPCS Renewal Test which has recently been launched which will make the testing process neurodiverse, more convenient and cheaper for cardholders than previous arrangements. The impact of this investment should start to be seen in 2023/24. Alongside this, significant work has been undertaken to ensure that CPCS remained compliant with the industry new training standards.

CISRS continues to grow and we continue to look to develop other card scheme offerings both in the UK and Internationally.

I look forward to reporting further progress at the end of 2023/24.

Alison Duckles CBE Chair December 2023

Page 2

(A Company Limited by Guarantee)

NOCN Job Cards

Trustees' Report (continued) For the Year Ended 31 July 2023

Objectives and activities

The purpose of the Charity

The purpose of NOCN Job Cards is to support learners and apprentices to achieve success in life and work and to support communities and organisations to develop and prosper, through the provision and operation of competency-based card schemes.

The objectives of the Charity

The objects are specifically restricted to the advancement of education of operatives working in industry within the United Kingdom and Eire and in other countries which recognise skills and competency card schemes in one or more of the following ways:

(1) by facilitating skills and competence card schemes which will set standards and develop and test skills and competencies in order to increase public confidence in the operatives' work;
(2) by promoting participation by operatives in the schemes;
(3) by promoting participation by operatives in all forms of education and training in conjunction with and in addition to the schemes;
(4) by improving the quality and flexibility of the educational provision available to operatives;
(5) by improving access for operatives to learning opportunities and facilitating progression to further learning, employment and higher education;
(6) by delivering continuing professional development, training qualifications and assessment qualifications to operatives;
(7) by working with industry to ensure the schemes and operatives are ready for advancements in new technologies; and
(8) by ensuring the schemes meet the needs of all operatives.

Public benefit

planning future activities. Our Trustees have also complied with their duty in accordance with the UK Charities Act 2011 to follow the Charity

The Charity started to advance its objectives for the general public through the purchase of the Construction Plant Card Scheme (CPCS) from CITB on 1 March 2019 as the first of the competency card schemes that the Charity will operate. This card scheme ensures that Construction Plant Operators have the right qualifications and experience to operate different classes of plant machinery on construction sites.

In September 2019, CISRS signed a contract with NOCN Job Cards for the charity to deliver the CISRS cards to the Scaffolding industry. CISRS is one of the oldest and most respected cards in the construction industry. The contract to deliver the CISRS cards fits very well with the NOCN Job Cards charitable aims.

Similar occupational card schemes are expected to be set up by the charity in future.

Page 3

(A Company Limited by Guarantee)

NOCN Job Cards

Trustees' Report (continued) For the Year Ended 31 July 2023

Achievements and performance

Key achievements, activities & performance in the year

CPCS supports people to gain employment and develop their careers within the construction plant sector by ensuring operatives meet the standards expected by industry CPCS then issues operatives with digital SMART cards. The scheme which is competency based and has different colour cards that indicate the level of skill.

CPCS is compliant with the Construction Leadership Council (CLC) requirements for a One-Logo skilled work force, as such we are audited by Construction Skills Certification Scheme (CSCS) and remain compliant.

During 2022/23 CPCS has gone through significant changes to ensure that the CPCS card scheme meets the requirements of the Standard Setting Body requirements for the introduction of Training Standards we have had to change many of the scheme rules to ensure compliance. CPCS has strong support from industry. We have put together industry working groups to ensure that the training standards were adopted and improvements to the scheme are delivered and meet the needs of industry.

Job Cards continues to support centres, employers, and operatives in enhancing skills and competence supporting the plant sector and supporting the sector skills gap.

Quality assurance has strengthened during the financial year, CPCS has a new Quality Assurance Manual, new

Our competitors have a presence in some parts of the construction sector, which has some impact on CPCS market share.

CPCS has been able to gain the support of the board and its industry representatives to create an online version of the Health, Safety and environment test (HS&E) for plant operatives. CPCS has created great on-line learning content that is easy to navigate and improves knowledge of the health safety and environmental responsibilities of employers, employees and contractors. At the end of the learning, operatives are able to access an online test platform to take a test and ensure that the learning has been effective. The test has facial recognition and is artificially quality assured, all tests are video recorded and are quality assured before results are issued. Test numbers are growing and we will be releasing enhanced versions and other online products throughout 2023/24.

CISRS smart carding processes are managed by NOCN Job Cards on a commission basis. Volumes have increased during 2022/23 and forecast to further increase in 2023/24.

Page 4

NOCN Job Cards (A Company Limited by Guarantee)

Trustees' Report (continued) For the Year Ended 31 July 2023

Financial Review

Card income levels remained stable year-on-year overall. Costs were 13% higher in 2022/23 compared to 2021/22 due to the continued investment in developing the business as well as the general inflationary increase in operational costs. This resulted in the charity achieving an operating surplus of £400k surplus in 2022/23 (2022: £718k surplus).

Income Operating costs Operating (deficit)/surplus Depreciation and amortisation Other revaluations Net movement in funds	2022/23 £000 3,694 (3,294)	2021/22 £000 3,626 (2,908)
	400 (368) - 32	718 (360) -
		358

In December 2022 we paid the last instalment to CITB for the purchase of CPCS.

NOCN Job Cards reserves continue to grow with £0.5m in 2022/23, in comparison to total reserves of £0.4m in 2021/22. However, NOCN remains outside of its reserves policy target due to the need to pay off the CPCS purchase cost which was funded by an intercompany loan from NOCN, and the continued need to invest in developing the digital offer. This investment is projected to lead to improved financial performance and surpluses in future years allowing the reserves target to be met in future years.

In the opinion of the Trustees, in the light of the latest projections of incoming resources and costs for 2023/24 and 2024/25, and the confirmation from NOCN of the continued provision of financing facilities from NOCN, NOCN Job Cards continues to be a going concern.

Key risks in the year

The key risks NOCN Job Cards has faced in the year have been:

Cost inflation. We have seen staff pay cost pressures increase in the year in line with the increase in general inflation.
General economic uncertainty in the light of increased inflation and interest rates impacting on the construction sector in particular, which we have been mindful of in our future planning.
The risk that the CPCS scheme fails to adapt successfully to the new CITB funding arrangement such that market share and income is lost to its competitors. Through the work carried out in 2022/23 we have managed to successfully mitigate this risk.

Powers of Investment

The Trustees are authorised by the Memorandum of Association to invest monies not immediately required for own purposes in such investments, securities or property as they deem fit subject to any conditions required by law.

Page 5

NOCN Job Cards

(A Company Limited by Guarantee)

Trustees' Report (continued) For the Year Ended 31 July 2023

Reserves policy

The reserves policy was reviewed and updated in 2022/23 sheet unrestricted reserves in the range of £1.6m and £2.5m. Equating to approximately 6 to 9 months of projected operating expenditure and available cash, which it pooled at a group level. These unrestricted reserves, which are freely available for general use, are held to withstand any short-term financial risks and to support any net windup costs in the event of closure.

As at the end of July 2023, NOCN outside of this range given the company has only been operational since 2019.

The Board approved a business plan and budget for 2023/24, which will further increase the reserve and available cash levels and we expect that reserve levels will get to the target range in the next two to three years.

Going concern

In order for the Board to determine the going concern position of Job Cards, a going concern assessment of its position was developed. The assessment included a review of current performance in 2023/24 at the point of signing the accounts, stress testing of budgets and forecast projections under a best and worst case on the statement of financial activities and cashflow position for the period up to the 31 July 2025.

Job Cards is operationally viable as a business with continued projected surpluses to be generated in 2022/23 and 2023/24 under the best and worst case scenarios. NOCN has committed to continue to fund NOCN Job Cards until at least 31 July 2025. The NOCN Board has provided a letter of support to NOCN Job Cards Board to this effect. It is anticipated that NOCN Job Cards will be able to repay the intercompany loan within 2 to 3 years through the development of the CPCS card scheme including bringing the Health and Safety and renewal test inhouse as well as expansion of card schemes into other countries and sectors.

Following this assessment, and the letter of support provided to NOCN Job Cards by NOCN, the Board have assessed that the business continues to remain a going concern for at least the following 12 months from the signing of these accounts and can pay its liabilities as they fall due.

Page 6

NOCN Job Cards

(A Company Limited by Guarantee)

Trustees' Report (continued) For the Year Ended 31 July 2023

Structure, governance and management

Governing document and structure

The organisation is a charitable company limited by guarantee incorporated on 22 October 2018 and was registered in England and Wales as a charity on 15 February 2019. The charity started to operate from 1 March 2019.

NOCN Job Cards is consolidated under NOCN, given its articles give NOCN majority voting rights on the Board.

Compliance to Charity Governance Code

In 2023 charities as part of a Group Governance Review. It was assessed that NOCN is compliant with the code.

Appointment of Trustees

As at the 31 July 2023, there were 7 trustees in post at NOCN Job Cards, 1 less than the previous year.

The Chair is a trustee of the Board of NOCN and 2 are Senior Leadership staff of NOCN. Carl Hassell is remunerated by NOCN following his appointment as a trustee of NOCN Job Cards.

The Board make any trustee appointment decisions. Any appointments have to be approved by the NOCN Board.

Trustee induction and training

When new Trustees join the Board, a formal briefing from the Chair and Group Managing Director takes place and they receive an induction pack. Trustees will receive formal training on their responsibilities, including their legal obligations where needed.

Organisational structure

The Chair of NOCN Job Cards Board of Trustees was also a Trustee of NOCN during 2021/22. As such there was a clear link between both the parent and the subsidiary Boards. From 2022/23 onwards, at least one of NOCN

The NOCN Job Cards Board of Trustees meets at least quarterly with a full business agenda including a review of the Management Accounts and budget achievement. The company has elected not to set up an Audit entities.

The Board of Trustees delegates the management of the Charity to the Group Managing Director who undertakes these responsibilities through a Senior Leadership Team (SLT) which is comprised of the Chief Executive, the Deputy Chief Executive and all the Executive Directors within the Group and a Group Management Team which is made up of the SLT plus the Heads of Functions of the NOCN Group entities.

Page 7

NOCN Job Cards (A Company Limited by Guarantee) Trustees' Report (continued) For the Year Ended 31 July 2023

Structure, governance and management (continued)

Pay policy for senior staff

Two Trustees receive remuneration from NOCN as Executive Directors of NOCN, but do not receive remuneration from NOCN Job Cards. The rest of the Trustees receive no remuneration.

Details of any Trustee related party transactions are disclosed in the notes to the accounts.

Risk Management

NOCN Group operates to a risk management policy and strategy, which NOCN Job Cards has decided to adopt. The aims of the policy and strategy are to:

Consider best practice in designing a risk management framework;
Encourage well-managed taking of risk to deliver business objectives;
Provide staff with policies and procedures necessary to manage risk;
Embed risk management in the day-to-day conduct of business;
Identify and prioritise risk using the risk management technology;
Regularly monitor risk at Managing Director and Director Level; and Achieve continuous improvement in risk management.

and examined specific areas of risk at the request of the Board. The Strategic Risks are also reported to the Board on a Quarterly basis. The Strategic Risk Register is also reviewed on a monthly basis by the NOCN Group Management Team.

NOCN reserves policy provides for mitigation against financial risk.

Future Plans

The CPCS Management Committee was disbanded in September 2022 due to the establishment of the Plant Sector Representative Organisation (PSRO). NOCN Job Cards (CPCS) has now formed an "industry engagement employers and the cardholders and other stakeholders. Work has started on our Vision 2025 and Vision 2028 plans, ensuring that industry can scope their future needs of a plant competence scheme, ensuring that safety, skills, and competence continue to be improved within a safety critical sector.

NOCN Job Cards have board approval to set up additional card schemes that will operate the same quality and standards as CPCS for other footprints where an improved cards scheme will be of benefit to the sector, these will be launched during 2023/24.

NOCN Job Cards will also be supporting the development of a Construction Card Scheme in India 2023/24 and a Card Scheme for the oil and gas sector in the Gulf.

Disclosure of information to auditor

Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:

so far as that Trustee is aware, there is no relevant audit information of which the charity's auditor is unaware, and
that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditor is aware of that information.

Page 8

NOCN Job Cards (A Company Limited by Guarantee)

Trustees' Report (continued) For the Year Ended 31 July 2023

Auditor

Under section 487(2) of the Companies Act 2006, Armstrong Watson Audit Limited will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

Approved by order of the members of the board of Trustees on 14 December 2023 and signed on their behalf by:

Alison Duckles CBE

Chair

Page 9

NOCN Job Cards (A Company Limited by Guarantee)

Statement of Trustees' responsibilities For the Year Ended 31 July 2023

Financial Statements in

accordance with applicable law and regulations.

Company law requires the Trustees to prepare Financial Statements for each financial year. Under that law the Trustees have elected to prepare the charity financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period.

In preparing these financial statements, the Trustees are required to:

select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Financial statements are published on the website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements, which may vary from legislation in other jurisdictions. The maintenance and integrity of the Charity's website is the responsibility of the Trustees. The Trustees' responsibility also extends to the ongoing integrity of the financial statements contained therein.

Page 10

NOCN Job Cards (A Company Limited by Guarantee)

Registered number: 11634699

Independent Auditor's Report to the of NOCN Job Cards

Opinion

We have audited the financial statements of NOCN Job Cards for the year ended 31 July 2023, which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including nd' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the charitable company's affairs as at 31 July 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the parent Charitable Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Trustees eport, other than the financial The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other

Page 11

NOCN Job Cards (A Company Limited by Guarantee)

Registered number: 11634699

Independent Auditor's Report to the of NOCN Job Cards (continued)

information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the
purposes of Company Law, for which the financial statements are prepared is consistent with the financial statements; and
have been prepared in accordance with
applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Charitable Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit

Responsibilities of Trustees

As explained more fully in on page 10, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the parent Charitable Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the parent Charitable Company or Group or to cease operations, or have no realistic alternative but to do so.

Page 12

NOCN Job Cards (A Company Limited by Guarantee)

Registered number: 11634699

Independent Auditor's Report to the of NOCN Job Cards (continued)

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the industry;
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and
identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

understanding of how fraud might occur, by:

making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

performed analytical procedures to identify any unusual or unexpected relationships;
tested journal entries to identify unusual transactions; and
assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

agreeing financial statement disclosures to underlying supporting documentation; and
enquiring of management as to actual and potential litigation and claims.

Page 13

Registered number: 11634699

NOCN Job Cards (A Company Limited by Guarantee)

Independent Auditor's Report to the of NOCN Job Cards (continued)

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.

Use of our report

This report is made solely to the Company's members in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members for our audit work, for this report, or for the opinions we have formed.

Simon Turner (Senior Statutory Auditor) for and on behalf of Armstrong Watson Audit Limited Chartered Accountants Northallerton

Date: 14/12/2023

Page 14

NOCN Job Cards

(A Company Limited by Guarantee)

Registered number: 11634699

Statement of financial activities (incorporating income and expenditure account) For the Year Ended 31 July 2023

Unrestricted Funds 2023 £ 3,694,428	Total Funds 2023 £ 3,694,428	Total Funds 2022 £ 3,625,577
3,694,428 3,662,466	3,694,428 3,662,466	3,625,577
		3,267,210
3,662,466 31,962 - 31,962	3,662,466 31,962 - 31,962	3,267,210

		358,367
		-
		358,367
436,727 468,689	436,727 468,689	78,360 436,727

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 18 to 34 form part of these financial statements.

Page 15

NOCN Job Cards

(A Company Limited by Guarantee)

Registered number: 11634699

Statement of Financial Position As at 31 July 2023

Note Fixed assets Intangible assets 10 Tangible assets 11 Current assets Stocks 12 Debtors 13 Cash at bank and in hand 20 Creditors: amounts falling due within one year 14 Net current liabilities Total assets less current liabilities Creditors: amounts falling due after more than one year 15 Total net assets/(liabilities) Charity funds Unrestricted funds 16 Total funds	- 589,711 250,926 840,637 (377,184)	2023 £ 1,992,758 20,977 2,013,735 3,485 520,449 288,353 812,287 (970,819) 463,453 2,477,188 (2,008,499) 468,689 468,689 468,689	2022 £ 2,178,608 25,564
			2,204,172 (158,532)

			2,045,640 (1,608,913)
			436,727 436,727 436,727

The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and preparation of financial statements.

The Financial Statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The Financial Statements were approved and authorised for issue by the Trustees on 14 Dec 2023 and signed on their behalf by:

Alison Duckles CBE Chair

The notes on pages 18 to 33 form part of these financial statements.

Page 16

NOCN Job Cards

(A Company Limited by Guarantee)

Registered number: 11634699

Statement of Cash Flows For the year Ended 31 July 2023

Note	2023 £ 2022 £
Cash flows from operating activities
Net cash provided by operating activities 18	889,929 1,131,835
Cash flows from investing activities
Purchase of intangible assets 10	(177,355) (40,543)
Fair Value Assessment of intangible assets 10	- 26,689
Purchase of tangible fixed assets 11	- -
Payments in respect of CPCS deferred consideration	(750,000) (1,300,000)
Net cash used in investing activities	(927,355) (1,313,853)
Change in cash and cash equivalents in the year	(37,426) (182,018)
Cash and cash equivalents at the beginning of the year	288,353 470,371
Cash and cash equivalents at the end of the year 20	250,926 288,353
The notes on pages 18 to 34 form part of these financial statements.

Page 17

Notes to the Financial Statements For the Year Ended 31 July 2023

1. General information

NOCN Job Cards is a Charitable Company limited by guarantee registered in England and Wales, under the Companies Act 2006. The address of the registered office is Acero Building, 1 Concourse Way, Sheaf Street, Sheffield, South Yorkshire, United Kingdom, S1 2BJ.

The company is a registered charity in England and Wales incorporated under a memorandum of association. The liability in respect of this guarantee, as set out in the memorandum, is limited to £1 per member.

2. Accounting policies

2.1 Basis of preparation of financial statements

The Financial Statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice, 2nd Edition applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), Section 1A of FRS 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

NOCN Job Cards meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The preparation of Financial Statements requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies (see note 3).

The presentational and functional currency of these financial statements is GBP values are rounded to the nearest pound.

The following principal accounting policies have been applied:

2.2 Going concern

In order for the Board to determine the going concern position of NOCN Job Cards, a going concern assessment of its position was developed. The assessment included a review of current performance in 2022/23 at the point of signing the accounts, stress testing of budgets and forecast projections under a best and worst case on the statement of financial activities and cashflow position for the period up to the 31 July 2025.

NOCN Job Cards is operationally viable as a business with continued projected surpluses to be generated in 2023/24 and 2024/25 under the best and worst case scenarios. In addition, NOCN Job Cards has achieved a net current asset of £463k as at the end of 2022/23, an improvement of £622k since the end of 2021/22, which is further evidence of improving financial position.

However, NOCN Job Cards continues to be reliant on NOCN to remain a going concern. NOCN has also undertaken a going concern assessment and has assessed that NOCN Job Cards remains a going concern and has committed to continue to fund NOCN Job Cards until at least 31 July 2025 and the NOCN Board has provided a letter of support to NOCN Job Cards Board to this effect. With the final payment to CITB for the CPCS business settled in December 2022, it is anticipated that NOCN Job Cards will be able to repay the intercompany loan within 2 to 3 years through the development of the CPCS card scheme including bringing the Health and Safety and renewal test inhouse as well as expansion of card schemes into other countries and sectors.

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Notes to the Financial Statements For the Year Ended 31 July 2023

2. Accounting policies (continued)

As a result the Board have adopted the going concern basis of accounting and the Financial Statements have been drawn up on a going concern basis.

2.3 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Income from charitable activities is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

Income is classed as unrestricted unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.5 Research and development

Development costs are capitalised within intangible assets where they can be identified with a specific product or project anticipated to produce future benefits, and are amortised on the straight line basis over the anticipated life of the benefits arising from the completed product or project.

Deferred research and development costs are reviewed annually, and where future benefits are deemed to have ceased or to be in doubt, the balance of any related research and development is written off to the Statement of Financial Activities.

2.6 Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

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Notes to the Financial Statements For the Year Ended 31 July 2023

2. Accounting policies (continued)

2.7 Intangible assets and amortisation

Intangible assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

At each reporting date the charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.

Amortisation is provided on the following bases:

Software development - straight line over 5 years Goodwill - straight line over 10 years

2.8 Tangible fixed assets and depreciation

Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition are included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.

Depreciation is provided on the following bases:

Fixtures and fittings - straight line over 10 years Office equipment - straight line over 10 years Computer equipment - straight line over 5 years

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Financial Activities.

2.9 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

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Notes to the Financial Statements For the Year Ended 31 July 2023

2. Accounting policies (continued)

2.10 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.11 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.12 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Statement of Financial Position date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

2.13 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.14 Pensions

The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.

2.15 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

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Notes to the Financial Statements For the Year Ended 31 July 2023

3. Critical accounting estimates and areas of judgement

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Goodwill useful economic life and amortisation

The key judgements and sources of estimation uncertainty relate to the identified useful economic life attributable to the goodwill on acquisition of the trade and assets of CPCS which has been capitalised to the Statement of Financial Position and earn-out payment on the deferred consideration.

4. Income from charitable activities

	Unrestricted	Total	Total
	funds	funds	funds
	2023	2023	2022
	£	£	£
Competency scheme activities	3,694,428	3,694,428	3,625,577

Income from charitable activities primarily comprises theory and practical test fees, and card upgrades and extensions fees, in respect of the Construction Plant Competence Scheme (CPCS) and Construction Industry Scaffolders Record Scheme (CISRS).

All income from charitable activities in the prior period was unrestricted.

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Notes to the Financial Statements For the Year Ended 31 July 2023

5. Analysis of expenditure on charitable activities

Summary by fund type

	Unrestricted	Total	Total
	funds	funds	funds
	2023	2023	2022
	£	£	£
Competency scheme activities	3,662,466	3,662,466	3,267,210

All expenditure on charitable activities in the prior period was unrestricted.

6. Analysis of expenditure by activities

Competency scheme activities Competency scheme activities	Activities undertaken directly 2023 £ 2,470,706 Activities undertaken directly 2022 £ 2,124,594	Support Costs 2023 £ 1,191,760 Support costs 2022 £ 1,142,616	Total funds 2023 £ 3,662,466 Total funds 2022 £ 3,267,210

Expenditure on charitable activities was fully unrestricted in the current and previous period.

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Notes to the Financial Statements For the Year Ended 31 July 2023

6. Analysis of expenditure by activities (continued)

Analysis of support costs

Staff costs Depreciation and amortisation Group recharge for support Governance costs	Unrestricted funds 2023 £ 134,024 367,792 683,887 6,057 1,191,760	Total funds 2023 £ 134,024 367,792 683,887 6,057 1,191,760	Total funds 2022 £ 174,416 360,105 567,000 41,095 1,142,616

Governance costs are made up of audit and accountancy fees, intellectual property rights costs, and legal and professional fees.

The Group recharge for support is made up of Job Cards' share of the Group's overheads, such as facilities and IT infrastructure costs, these costs are allocated across the group entities on the basis of the share income generated by each entity within the Group as a percentage of the total income of the group.

7. Auditor's remuneration

	2023	2022
	£	£
Fees payable to the charity's auditor for the audit of the charity's annual
Accounts	6,750	5,995
Fees payable to the charity's auditor in respect of:
All non-audit services not included above	-	-

8. Staff costs

Wages and salaries Social security costs Contribution to defined contribution pension schemes	2023 £ 1,280,663 126,382 94,450 1,501,495	2022 £ 1,153,517 116,110 84,037 1,353,664

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Notes to the Financial Statements For the Year Ended 31 July 2023

8. Staff costs (continued)

The average number of persons employed by the charity during the year was as follows:

	2023	2022
	No.	No.
Employees	35	36

Two employees received remuneration amounting to more than £60,000 in the period (2022 - 1).

9. Trustees' remuneration and expenses

Our trustees received remuneration during the year of £Nil (2022 £Nil).

During the year ended 31 July 2023, no expenses were reimbursed or paid directly to any Trustee (2022 - £Nil).

10. Intangible assets (Current Year)

Cost At 1 August 2022 Additions At 31 July 2023 Amortisation At 1 August 2022 Charge for the year At 31 July 202 Net book value At 31 July 2023 At 31 July 2022	Software development £ 245,523 177,355 422,878 81,587 54,892 136,479 286,399 163,936	Goodwill £ 3,289,659 - 3,289,659 1,274,987 308,313 1,583,300 1,706,359 2,014,672	Total £ 3,535,182 177,355 3,712,537 1,356,574 363,205 1,719,779 1,992,758 2,178,608

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Notes to the Financial Statements For the Year Ended 31 July 2023

Intangible assets (Prior Year) Cost At 1 August 2021 Additions Purchase price adjustment At 31 July 2022 Amortisation At 1 August 2021 Charge for the year At 31 July 2022 Net book value At 31 July 2022 At 31 July 2021	Software development £ 204,980 40,543 - 245,523 37,435 44,152 81,587 163,936 167,535	Goodwill £ 3,316,348 - (26,689) 3,289,659 967,472 307,515 1,274,987 2,014,672 2,348,877	Total £ 3,521,328 40,543 (26,689) 3,535,182 1,004,916 351,657 1,356,574 2,178,608 2,516,412

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Notes to the Financial Statements For the Year Ended 31 July 2023

11. Tangible fixed assets (Current year)

angible fixed assets (Current year)
Cost or valuation At 1 August 2022 Additions At 31 July 2023 Depreciation At 1 August 2022 Charge for the year At 31 July 2023 Net book value At 31 July 2023 At 31 July 2022	Fixtures and fittings £ 17,034 - 17,034 4,917 1,704 6,621 10,413 12,116		Office equipment £ 15,009 - 15,009 4,253 1,501 5,754 9,255 10,756	Computer equipment £ 22,346 - 22,346 19,655 1,382 21,037 1,309 2,691	Total £ 54,389 - 54,389 28,825 4,587
					33,412 20,977 25,564

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Notes to the Financial Statements For the Year Ended 31 July 2023

Tangible fixed assets (Prior Year)

Cost or valuation At 1 August 2021 Additions At 31 July 2022 Depreciation At 1 August 2021 Charge for the year At 31 July 2022 Net book value At 31 July 2022 At 31 July 2021 12. Stocks Finished goods and goods for resale	Fixtures and fittings £ 17,034 -	Office equipment £ 15,009 -	Computer equipment Total £ £ 22,346 54,389 - -
	17,034 3,214 1,703 4,917 12,116 13,820	15,009 2,752 1,501 4,253 10,756 12,257	22,346 54,389 14,420 20,386 5,235 8,439 19,655 28,825 2,691 25,564 7,926 34,003 2023 £ 2022 £ - 3,485

The difference between purchase price or production cost of stocks and their replacement cost is not material.

An impairment loss of £Nil (2022 -£Nil) was recognised in cost of sales against stock during the year due to slow-moving and obsolete stock.

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Notes to the Financial Statements For the Year Ended 31 July 2023

13. Debtors

Due within one year Trade debtors Prepayments and accruedincome Trade debtors are stated net of bad debt provisions of £Nil (2022 - £1,531).	2023 £ 468,466 121,245 589,711	2022 £ 375,299 145,150 520,449

14. Creditors: Amounts falling due within one year

Contingent consideration Trade creditors Other taxation and social security Other creditors Accruals and deferred income	2023 £ - 55,688 2,500 94,618 224,378 377,184	2022 £ 740,061 113,919 39,948 10,135 66,756 970,819

Contingent consideration in creditors due within, and due after, one year relates to the purchase of CPCS from CITB.

15. Creditors: Amounts falling due after more than one year

Amounts owed to group undertakings	2023 £ 2,008,499 2,008,499	2022 £ 1,608,913 1,608,913

Amounts owed to group undertakings are interest free and are not required to be repaid for at least 1 year

Page 29

Notes to the Financial Statements For the Year Ended 31 July 2023

16. Statement of funds

Statement of funds - current year

Balance at 1 August 2022 £ Unrestricted funds General Funds436,728 Statement of funds - prior year Balance at 1 August 2021 £ Unrestricted funds General Funds 78,360	Income £ 3,694,428 Income £ 3,625,577	Expenditure £ (3,662,467) Expenditure £ (3,267,209)	Gains/ (Losses) £ - Gains/ (Losses) £ -	Balance at 31 July 2023 £ 468,689 Balance at 31 July 2022 £ 436,728

17.	Analysis of net assets between funds
	Analysis of net assets between funds - current year

Unrestricted funds 2023 £ Tangible fixed assets 20,977 Intangible fixed assets 1,992,758 Current assets 840,637 Creditors due within one year (377,184) Creditors due in more than one year (2,008,499) Total 468,689	Total funds 2023 £ 20,978 1,992,758 840,637 (377,184) (2,008,499) 468,690

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Notes to the Financial Statements For the Year Ended 31 July 2023

17. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year

	Unrestricted	Total
	funds	funds
	2022	2022
	£	£
Tangible fixed assets	25,564	25,564
Intangible fixed assets	2,178,608	2,178,608
Current assets	812,287	812,287
Creditors due within one year	(970,819)	(970,819)
Creditors due in more than one year	(1,608,913)	(1,608,913)
Total	436,727	436,727

18. Reconciliation of net movement in funds to net cash flow from operating activities

Net movement in funds before other recognised gains/(losses) (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Amortisation charges Decrease/(Increase) in stocks Decrease/(increase) in debtors Increase/(decrease) in creditors Net cash provided by operating activities	2023 £ 31,962 4,586 363,206 3,485 (69,261) 555,951 889,929	2022 £ 358,367
		8,439 351,666 50,575 388,627 (25,839)
		1,131,835

Page 31

Notes to the Financial Statements For the Year Ended 31 July 2023

19. Financial commitments

At 31 July 2023, the Group had commitments under non-cancellable operating leases as follows:

Group	2023	2022
	£	£
Buildings:
Within one year	40,205	40,205
Between two and five years	83,934	123,965
Equipment:
Within one year	7,836	6,580
Between two and five years	6,727	5,195

20. Analysis of cash and cash equivalents

Cash in hand Total cash and cash equivalents	2023 £ 250,926 250,926	2022 £ 288,353
		288,353

Analysis of Net Debt Cash at bank and in hand	At 1 August 2022 £ 288,353	Cash flows £ (37,426)	At 31 July 2023 £ 250,926

21. Analysis of Net Debt

22. Pension commitments

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £94,450 (2022 - £84,037). Contributions of £Nil (2022 - £12,447) were payable to the fund at the reporting date.

Page 32

Notes to the Financial Statements For the Year Ended 31 July 2023

23. Related party transactions

During the year the Company was recharged expenditure of £683,887 (2022 - £567,000) from its parent company in relation to support costs.

Other transactions with related parties were as follows:

			Amounts		Amounts
		Income/	outstanding	Income/	outstanding
		(costs)	from	(costs)	from
		2023	2023	2022	2022
		£	£	£	£
BAM Nuttall		108,639	16,757	3,108	588
CISRS		(303,290)	(35,338)	(315,744)	(25,188)
Construction Plant Hire Association		-	-	(600)	-
P Flannery				5,050	532
Laing	Ltd			598	28

All related party transactions are undertaken under normal commercial terms.

Transactions with BAM Nuttall relate to learner registration, certification fees and CPCS cards. Tim Brownbridge is an Academy Manager at BAM Nuttall.

Transactions with CISRS relate to the commission paid to CISRS for issuing CISRS cards. David Mosley is a director of CISRS.

Transactions with Construction Plant-hire Association (CPA) relate to the Plant Technician of the Year sponsorship at Stars of the Future 2021. Kevin Minton was the Chief Executive at Construction Plant-hire Association at the time.

Transactions with P Flannery relate to the issue of Job cards. Paul Allman was a Director at P Flannery Ltd until May 2022.

24. Controlling party

The immediate parent and ultimate controlling parent of the company is NOCN, a Company registered in England and Wales, with registered address Acero Building, 1 Concourse Way, Sheaf Street, Sheffield, United Kingdom, S1 2BJ.

The smallest and largest group in which the company's results are consolidated is that headed by NOCN. The consolidated accounts of this company are available to the public and may be obtained from the company's registered address, as set out above. No other group accounts include the results of the company.

Page 33