COMPANY REGISTRATION NUMBER N1050863
OPEN COLLEGE NETWORK NORTHERN IRELAND
FINANCIAL STATEMENTS
31 JULY2023
Charity Number XR17530
CCNI Nos: NIC100241
FPM ACCOUNTANTS LTD
an AAB Grou
Com
Chartered Accountants & Statutory Auditor
Unit 1, Building 10
Central Park
Mallusk
Co Antrim
BT36 4FS
an

OPEN COLLEGE NETWORK NORTHERN IRELAND
FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2023
CONTENTS
PAGE
Trustees. annual report
3.18
Independent auditorfs report to the members
1942
ststement of financial activities (incorporating the
income and expenditure account)
Balance sheet
23
24
Cash Flow Ststement
25
Not8s to the financial st8t8ments
2645
The followlng pag88 do not fomi part of tho flnanclal statomonts
Detall8d ststement of financlal actlvltles
3640

OPEN COLLEGE NETWORK NORTHERN IRELAND
TRUSTEES ANNUAL REPORT
YEAR ENDED 31 JULY 2023
The trustces, who are also directors for the PUTposes of company law, present their report and th¢
financial statements of the Company for the year cnded 31 July 2023.
REFERENCE AND ADMtNISTRATIVE DETAILS
Reglstsred charlty name
Open College Network Northern ￿e1alld
Charlty reglstratlon number
XR17530
Charity Comml8slon NI number
NIC100241
Company registrAtion number
N1050863
Prlndpal office
Sirius HO￿Se
10 Heron Road
Belfast
BT3 9LE
Registered offlce
Sirius House
10 Heron Road
Belfast
BT3 9LE
The truitees
Thc trustees who served the company during the period were as follows:
MT Paul Donaghy (Chairperson)
Mrs Anne-marie Mcclure MBE (Vice Chair)
Mrs Kate Fleck
Mrs Edith Shaw
Mr Anthony McAteer
MTS ADn McGuiDness
Dr lan Walt¢rs
Mr Gerard Campbell {Re8igned 1310112023)
Mr Jobn D'Arcy OBE
Mrs Michele Marken OBE
Dr Jonathaa Heggaty MBE
Ms Louise Warde Hunter Olesigned 1110912023)
Mr Bary Neilson OBE

OPEN COLLEGE NETWORK NORTHERN IRELAND
TRUSTEES ANNUAL REPORT (canthiu•dJ
YEAR ENDED 31 JULY 2023
Senior Management TeAm
Mr Martin Flynn, Cbief Executive Officer
Mrs Lisa Robinson, Director of Compliance & Audit
Mrs Jo Bailey) Dircctor of Busincss Development
Mrs Cbarlotte Fegan, Director of co￿Orate Services
Audltor
FPM Accountants Ltd
Chartered Accountants
& Statutory Auditor
Unit I, Building 10
Central Park
Mall
Co Antrim
BT36 4FS
Bankers
Danske Bank
Donegall Square We8t
Belfast
BT189HW
Barclays Bank UK plc
I Churchill Place
London
E14 5HP

OPEN COLLEGE NETWORK NORTHERN IRELAND
STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING THE
INCOME AND EXPENDITURE ACCOUNT)
YEAR ENDED 31 JULY 2023
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Total Funds
2022
Not•
COME AND
El￿OWmE￿Ts
Donations and legacies
Income from clwitable
activities
Investhicnt income
Oth¢r income
77,496
77,496
67,583
2,539,060
3&322
1,929
2,539.060
38,322
1,929
2,109,653
7.033
300
TOTAL INCOME
2,656.807
2,656,807
2,184,569
EXPENDITURE
Expenditure on rai8illg funds:
{98,919)
(98,919)
(88,486)
Expenditure on charitable
activities
718
(1,895,797)
(1994,716)
(1,895,797)
(1,580,382)
(1,994,716) (1,668,868)
TOTAL EXPENDITURE
NET EXPEIYDITURE
ANJ D NET mOVE1￿￿￿T
¥ FUNDS FOR THE
YEAR
RECONCILIATION OF
662,091
662,091
515,701
Total funds brought forward
TOTAL FUNDS CARRIED
FORWARD
3J20,941
3J20,941
2.805,240
3983,032
3,983,032
3.320,941
The Statement of fmancial activities includes all gaiDS and losses in the year.
All of the above amounts relate to Continuing activities.
Tho notss on pages 26 to 35 fomi part of those financial slatomenls.

OPEN COLLEGE NETWORK NORTHERN IRELAND
BALANCE SHEET
31 JULY 2023
2023
2022
Note
FIXED ASSETS
Intangiblc a5S¢ts
Tangible assets
11
12
7920
56,219
64,139
13,458
26,861
40,319
CURRENT ASSETS
Debtors
Cash at bank
13
251,777
260,223
3,832,453 3,220,471
4,084,230
3,480,694
(147,232) (150,968)
CREDITORS: Amounts ffilllng dlle wltbln one year
14
NET CURRENT ASSETS
3.936,998 3,329,726
TOTAL ASSETS LESS CURRENT LIABILITIES
4,001,137
3.370,045
CREDITORS: Amount8 falllng due after more than one year
15
(18,105)
(49,I04)
NET ASSETS
3,983,032
3.320,941
FUNDS OF THE CHARITY
Restricted income funds
Unrestricted income fiu
16
17
3,983,032
3,983,032
3,320,941
TOTAL CHARITY FUNDS
3,320,941
These financial ststements were approved by the membcrs of the committee and authoris¢d for issue
on the 7 December 2023 and are signed on their behalf by:
Mr Paul Donaghy
Director
Company Registration Number: N1050863
The noto• on pagw4 26 to 35 forni part of the$¢ flnan¢lal statemonts.
24

OPEN COLLEGE NETWORK NORTHERN IRELAND
CASH FLOW STATEMENT
31 JULY 2023
2023
2022
Notes
Cash generated (used) In operatlng actfvltle8
20
656,082
470,196
Cash flows from Investing actlvitles
Proceeds from the sale of propety, plant and equipment
Purchase of propety, plant and equipmcnt
(44,100)
(13.751)
Net Cash provided by (used in) investing a￿1vitieS
{44,100)
(13,751)
Change In cAsh and ca8h equlvalents In the
reporting perlod
611,982
456,445
C48h and cash equivalents at the beglnnlng
of the reportlng period
3,220,471
2,764,026
Cash and cash equlvalents at the end ofthe
reportlng perlod
3,832,453
3320,471
The not08 on pages 26 to 35 fomi part of these financial 8tatomonts.
25

OPEN COLLEGE NETWORK NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2023
ACCOUNTING POLICIES
The principal accounting policies adopted, judgements and key sources of ¢stimation in the
preparation of the fmancial statements are as follows:
Basls of preparation
The fmancial statements have been PTcpar¢d in accordance with Accounting and R¢porting by
ctwiti¢s: Statement of Recon]mended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and R¢public of ]reland
(FRS 102) (effective l January 2019) (Charities SORP (FRS 102), the Financial Reporting
Standard applicable in the UK and Republic of Irelat￿ (FRS 102) and the Companies Act 2006.
Open College Network Nortbern Jreland 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 note(s). The accounts arc prepared in sterling,
which is the functional currency of the charity. Monetary amounts in these fllkqncial statements
are rounded to the nearc5t £.
Preparatloll of the accounts on a golng coneern basls
The trustees are of the view that with the level of reserves in place that the charity is a going
Concern.
Fund Accounting
Gen¢ral funds are unrestricted fun<ts which are available for we at the discretion of tbc TnLStees in
furtberance of the general objectives of the Charity and which have not been designated for other
purposes.
Designated fund8 comprise UDre8tricted funds that have been set aside by the trnstees for particular
purposes.
General fi￿dS may be transfeTh¢d to desigoat¢d fiu]ds where Trustees wish to use these fi￿dS for
a specific purpose. Such funds may be transferred ba¢k to g¢n¢ral funds once the criteria for the
designation have been met or are no longer applicable.
Restricted funds are whicb are to be used in accordance with specific restrictions imposed
by donors or wbich have been raised by the CbaTity for particular purposes. The cost of raising and
administering such funds are Charged against the specifi¢ fund. Th¢ aim and use of restricted fund5
is set out in the notes to the financial statements. Restricted funds may only be transferred to general
or designated funds once tbe criteria for Testriction have been discharged or no longer apply.
In¢onJe Recognition Policles
Itcms of income are recognised and included in the accounts when all of the following criteria are
met:
The charity has entitlement to the funds.
any perforniance conditions attached to the item of income has been met or are fL￿Y
within tbe control of the clwity.
tbere is sufficient certainty that Teceipt of the income is considered probable. and
the amount can bc measured rcliably.
26

OPEN COLLEGE NETWORK NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2023
ACCoUNT￿￿c POLICIES fcoHlrH*ed)
Donated servlces 2nd faclllrfes
In a¢cordaDce with the Charities SORP (FRS 102). the general volunteer time of supporters is
not Tecognise
Interest Recelvable
Interest on funds held on deposit is included wben receivable and the amount can be measured
reliably by the clwity" this is norn]ally upon notification of the interest paid OT payable by the
Bank.
E￿endItUre
Expenditure is recognised once there is a legal or constructive obligation to mak¢ a paym¢nt to
a third paty, it is probable that settlement will be required and the amount of the obligation can
be mcasured reliably. Expenditure is classifi¢d under th¢ following activity headings:
Expcnditure incurred in generating fi￿d8'
Expenditure on charitable activities undertaken to further the purposes of the chatity
and their associated support costs;
Other expenditure represents those items not falling into any other heading.
Allocation of 8UPPOrt colts
Support costs are those functions that assist the work of the charity but do not directly undertake
charitable activities. Support Costs include back offic¢ costs. finance, personnel, payroll and
governance costs whicb support the cbarity's programmes and activities. Thcsc costs have been
allo¢at¢d against expenditure on charitable activities.
Casb at bydnk and In hand
Cash at bank and casb ID hand includes cash and short terni highly liquid investments with
short maturity of three months or less from the date of acquisition or opening the deposit or
similar account
Amordsatfion
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual
value, OV￿ the useful economic h'fe ofthat asset as follows:
Intangible Asset - over 5 Years
Flxed assets
All fixed assets are initially recorded at cost. The cazrying values of tangible fixed assets are
r¢viewed for impainnent when events or ¢hang¢s in circumstances indicate the carrying value
may not be recov¢rabl¢.
Depreclation
Depreciation is calculated so as to write off the cost of ao asset. le5S It5 estimated residual
value, over th¢ useful economic life of that asset as follows:
Office Equipment
Fixtures, fittings and equipment
Computer Equipment
New Office RefuTbisl)ment
300/0 reducing balance
30 % reducing balance
25 /0 straigbt line
2￿/0 Straight Lin¢
27

OPEN COLLEGE NETWORK NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2023
ACCOUNTING POLICIES (continued)
Debtors
Trdde and other debtors are recognised at the settlement atuount due after any trade discount
off¢re(L Prepayments are valued at th¢ amount prepaid after taking account of any trade discount
Credltors and Provlslons
Creditors and provisions are recog￿lsed wbere the charity has a present obligation resulting from a
past event tbat will probably result in the transfer of fimds to a third paty and the amount due to
settle the obligation can be measured or estimated reliably. Creditors and provisions are nornMIIy
recognised at their settlement amount after allowing for any trade discounts due.
Flnanclal Instruments
Tbe charity only has financial assets and financial liabilities of a kind that qualify as b&sic financial
instruments. Basic financial instruments are initially recognised at transaction value and
subsequently measured at their 8ettlement value WAth the exception of bank loans wbich are
subsequently measured at the carrying value plus accrued illterest less repayments. The financing
charge to expenditure is at a constant rate calculated using th¢ effective interest ￿￿thOd.
Taxation
The company is a rcgistered charity and the clwitable tax exemptions are therefore being claimed
to the ¢xtent that income al￿Or gains are applicable and applied to charitable pu￿OSe8 only. These
exemptions will remain in place a8 long as incomc and cxp¢nditur¢ 18 applied to charitable purposes
only.
Pension
Existing employees of the charity were entitled to join a defined contribution pension scheme,
administrated through TPT Retirement Solutions. The Pension Schemes are funded by
ontributions from cmploy¢¢ and employer. All employ¢¢s are automatically enrolled into a
Stakeholder pension scheme, unless they bave exercised their rigbt to opt out of s¢h¢me
memlxrsbip.
Open College Network Northern Ireland mak¢s a matching contribution of between 10/0 and 60/0
of salary to this pension scheme and acts as agent in collecting and paying over employee pension
contributions. The contributions made for the accounting period are treated as an expense and
were £59,539 (2022: £51,882).
Critical accountlng esdmates and judgements
In the applicatloll of the charity's accounting policies, the trustees are required to make
judgements, estimates and assumptions about the canying amount of assets and liabilities that are
not readily apparent from other sources. The estimates and associated assumptions are based on
historical eXp￿IenCe and other factors that are considered to b¢ relevant. Actual results may differ
from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisi0tt8 to
accounting cstimates are recognised in th¢ period in which the estimate is revised where the
rcvision affects only that pcrio<L or in the period of the revision and futurc pcriods whw¢ thc
revision affects both current and future periods.

OPEN COLLEGE NETWORK NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2023
ACCOIINTING POLICIES (continued)
al Status of the Charity
The charity is a company limited by guarantee and has no share capital.
DONATIONS AND LEGACIES
Unrestricted Restrlcted Total Funds
Funds
Funds
2023
Other Income
Fee income - annual membership
77,496
77,496
77.496
77,496
Unrestricted
Funds
Restricted Totsl Funds
Funds
2022
Other income
Fee incotne - annual membership
67,583
67,583
67,583
67.583
INCOME FROM CHARITABLE ACTIVITIES
Unrestrlrted Restrlcted Total Funds
Fund8
Funds
2023
Grant Incoo]e
Learner Sponsorship Awards
Fec income - registrations
D¢v¢lopment income
2,769
1,500
2,526,766
8,025
2,539,060
2,769
1,500
2,526,766
8,025
2,539,060
Unrestricted Restricted Totsl Funds
Funds
Funds
2022
Grant Incom¢
Fe¢ income- rcgistrations
Development income
2,718
2,095,335
11,600
2,109,653
2,718
2.095,335
11,600
2.109,653
29

OPEN COLLEGE NETWORK NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2023
INVESTMENT INCOME
Unrestricted Total Fundg Unrestricted Total Funds
Funds
2023
Funds
2022
Bank interest receivable
38J22
38,322
7,033
7,033
OTHER INCOME
Unrestrlcted Total Fund* Unrestricted Total Fwids
Funds
2023
Funds
2022
Other tncome
1.929
1,929
300
300
1929
1,929
300
300
COSTS OF RAISll¥G FI]NDS
Unrestricted Total Funds Unrestricted Total Funds
Funds
2023
Funds
2022
Costs of rnising funds
98,919
98,919
88.486
88,486
COSTS OF CHARITABLE ACTIVITIES BY FUND TYPE
Unrestricted Restrlcted Total Funds
Fund8
Funds
2023
Charitable activities
Support costs
1,505,790
330,092
1.835,882
1,505,790
330,092
1,835,882
Unrestricted
Fund8
R¢stri¢ted Total Fut
Funds
2022
Charitable activities
Support costs
1,251,971
275,712
1.527,683
1.251,971
275.712
1,527.683
30

OPEN COLLEGE NETWORK NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2023
COSTS OF CHARITABLE ACTIVITIES BY ACTIVITY TYPE
Aetivlties
undertakeD
dlreetty
Support Total Funds Total Funds
costs
2023
2022
Charitable activities
Governance Costs
I JOS,790
330,092
59,915
390,007
1,835,882
59,915
1,895,797
1,527,683
52.699
I￿05,790
1.580,382
NET llYCOMING I (OUTGOING) RESOURCES FOR THE YEAR
This is stated after charging:
2023
2022
Staff pension contributions
Arnortisation of intangible assets
Depreciation
Auditors, remuneration:
- audit of the fll]ancial statements
57,305
5,538
14,742
51,882
6,267
13,554
5,500
10. TRUSTEE AND STAFF REl￿[uNERATIoN AYL D RELATED PARTY TRANSACTIONS
Total 8taff cogts Trvere as followj:
2023
2022
Wages and salaries
Social security costs
Other pension costs
947,048
92,583
59,539
1,099,170
771,834
82,179
51,882
905,895
Particulars of employees:
The average number of employees during the year, calculated on the basis of full-time
equivalents. was a8 follows..
2023
2022
Number of office staff
29
No employ¢es rcccived remuneration in th¢ band £60,000 to £69,999 (2021122: nonc).
No employ¢c received remulleration in th¢ band £70,000 to £79,999 (2021122 - one).
Onc cmploy¢¢ re¢¢ivcd rcmuneration in the band £80.000 to £89,999 (2021122 - none)
31

OPEN COLLEGE NETWORK NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2023
The key manag¢ment pcrsoDnel of Op¢n Coll¢ge Network Nortb¢rn treland comprise the TnJst¢cs. the
Chief Exccutive Officer, Director of Business Development, Director of Compliance and Audit and
DircctOT of Corporate SeThi¢es. Thc cmployee beDcfit5 ofthc key manag¢mentpcrsonncl of the chaTity
were £244,115.
11. JNTANGIBLE ASSETS
Intsngfible aJ8et
COST
At l August 2022
Additions
192,874
At 31 July 2023
192,874
AMORTISATION
At l August 2022
Charge for tbe year
At 31 July 2023
179,416
5,538
184,954
NET BOOK VALUE
At 31 July 2023
At 31 July 2022
7,920
13,458

OPEN COLLEGE NETWORK NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2023
12. TANGIBLE FIXED ASSETS
Flxtureg, Sirius House
Computer
Office flttlng5 aDd Refurbishme
Equipment Equipment equipment
nt
Total
COST
At l August 2022
Additions
Disposals
At 31 July 2023
109,184
11,233
55.684
30￿00
32,640
2,367
138,077
335,585
44,100
120,417
86,184
35,007
138.077
379,685
DEPRECIATtON
At l August 2022
Cljargc for the year
Depreciation on
Disposals
At 31 July 2023
95,505
8,617
51,758
2,964
23,384
3,161
138,077
308,724
14,742
104,122
54,722
26,545
138,077
323,466
IYET BOOK VALUE
At 31 July 2023
At 31 July 2022
16,295
13.679
31,462
3.926
8,462
9,256
56,219
26,861
13. DEBTORS
2023
2022
Trade debtors
Other debtors
Prepayments
186,850
14,056
50,871
251,777
208,637
10,938
40,648
260,223
14. CREDITORS: Amounts falllng due wltbin one year
2023
2022
Trade creditors
Taxation and social security
Accruals and def¢rred income
41,023
22,981
83,228
147,232
49,514
22,247
79207
150,968
15. CREDITORS: Amounts falllng due after more than one year
2023
2022
Pension Deficit
18,105
49,104

OPEN COLLEGE NETWORK NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2023
16. RESTRICTED INCOME FUNDS
Balance at
l Aug 2022
Balance at
31 Jul 2022
Income
Expendtture
Restricted Fund
17. UNRESTRICTED INCOME FUNDS
Balance At
l Aug 2022
Balance at
Transfers 31 Jul 2023
Income
E￿endItUre
Designated Fund -
Staff reserve
Designated Fund -
Building Funds
General Funds
884,666
884,666
250,000
2,186,275
3 J20,941
115,000
(115,000)
365,0110
2,733,366
3,983,032
2,656,807
2,656,807
(1,994,716)
(1,994,716)
18. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Long
Term
LIAbilide8
Tanglble r￿ed
assets
Intanglble Net current
fixed assets
a5S¢t8
Total
Restrlcted Income
Funds:
Restricted Fund
Unrestrlcted Income
Funds:
Designated Funds
General Funds
1,249,666
2,687,332
3,936,998
3,936,998
1249,666
2,733,366
3983,032
3983,032
56,219
7,920
7,920
7,920
(18,105)
(18,105)
(18,105)
56,219
56,219
Total Funds

OPEN COLLEGE NETWORK NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2023
19. COMMrrMEL¥TS ufiDER OPERATING LEASES
At 31 July 2023 the COllLpany bad aggregate aDnual COD)mitments under non-cancellable
operating leases as set out below:
2023
2022
Operatlng leases which expire:
Within l year
Withxn 2 to 5 years
Greater than 5 years
26,880
26,880
26,880
26,880
53,760
20. Reconelllatlon of net Income l {e￿endIture> to net CAsb flow from operathig
actlvltles
2023
2022
Net movement in funds for the reporting period (SOFA)
Depreciation on tangible fixed assets
Amortisation
Decrease l (Increase) in debtor8
(Decrease) I Increase in creditors
Increase / (Decrea8e) in long term creditOTS
662,091
14,742
5,538
8,446
(3,736)
(30.999)
515.701
13,554
6,267
(44,368)
3.686
(24,644)
N¢t cash provided by (used in) op¢rating activities
656,082
470,196
35

OPEN COLLEGE NETWORK NORTHERN IRELAND
MANAGEMENT INFORMATION
YEAR ENDED 31 JULY 2023
The followlng pag•8 do not form part of tho Statutory Ilnanclal 8tat8ments
whlch are the subjoct of the Independent audltorfs report on pages 19 to 22.
36

OPEN COLLEGE NETWORK NORTHERN IRELAND
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 JULY 2023
2023
2022
INCOTrtING RESOURCES
DONATIONS AND LEGACIES
Fee income - annual membership
77,496
77,496
67,583
67,583
VESTME￿ ll¥COM
Bank interest receivable
38J22
7,033
INCOME FROM CHAIUTABLE ACTIVITIES
Grants
Learner Sponsorship Awards
Fee income - registrations
Development income
2,769
1,500
2￿26,766 2,095,335
8,025
11,600
2,718
2W9,060
2,109,653
OTHER INCOME
IP29
300
TOTAL INCOME
2,656,807
2,184,569
EXPEIYDITURE
COSTS OF RAISING FUNDS
Staff costs - Wages & Salaries
Promotion & publicity
94.705
4,214
919
85,401
3,085
88,486
37

OPEN COLLEGE NETWORK NORTHERN IRELAND
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 JULY 2023
2023
2022
CHARITABLE ACTIVITIES
Stsff costs - Wages & Sal￿1¢8
Staff costs - Employ&s NIC
Stsff costs - Pension costs
Stsff costs - other
Establi81]ment- Rcnt & rates
Establishment - Light & beat
Establishment - Repairs & maintenance
Establishment - Insurance
Motor and travel costs - Other
Office expenses- Telephone
Office expenses - Other
Qualification Certifi￿t¢S
Amortisation
Depreciation
Staff training
Bad Debts
Organisational & staff development
Promotion & publicity
Hospitality
Consultancy fees
Recruitment
Quality Costs alld StaDdardisation
NOCN & other membership fees
External Verification Activity
Centre ReCO￿lt10n Vi81t
Computer Costs
Hire and lease of equipment
General Expenses
Centre learning grants
Interest and charges
Health & Safcty Support
Cleaning
Conference Fees
Sponsorship
Document Storage
Annual Learner Awards
ODlin¢ Platforn]
Course Developmcnt
Pension Deficit
804,991
92.583
59,539
2.414
44,016
7,118
IJ02
11,841
9,954
21.838
79.637
39,864
5.538
14,743
9,057
2,000
15,915
12,644
3,656
46J78
32,995
105,624
40,469
109,339
175
64,746
8,240
7,446
112,692
284
6947
6,073
10,882
4J82
1,248
39,151
7,953
23.207
(30,999)
1,835,882
643,732
82,179
51.882
43,514
7,900
1,902
9,575
8.063
18,961
55.160
29,764
6.267
13,554
1,428
4,410
7,275
9,255
7,189
65,816
15,869
100,088
40,219
85,722
163
58,503
10,214
2,977
82,679
190
1,533
7,611
990
5,936
1.249
43,922
7,169
19,467
(24,644)
1,527,683
38

OPEN COLLEGE NETWORK NORTHERN IRELAND
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 JULY 2023
2023
2022
GOVERNANCE COSTS
Salaries and wages
Accountsncy and legal fees
Audit and accounting fees
AGM and Board expenses
Professiot￿l Fees
47J52
lJ80
5,400
2,706
3,077
42,701
4,245
5,040
713
59.915
52,699
TOTAL EXPENDITURE
1994,716
1,668,868
NET INCoL￿[NG RESOURCES FOR TItE YEAR
662,091
515,701
39

OPEN COLLEGE NETWORK NORTHERN IRELAND
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 JULY 2023
2023
2022
CHARITABLE ACTIVITIES
Charltable actlvlties
Activitles undertaken directly
Staff costs- Wages & Salarles
Staff costs - Employ8¢s NIC
Staff costs - P8nsion costs
Motor and travel costs - Other
Amortisation
Siaff training
Organisational & staff development
Promotion & publlclty
Hospltallty
Consultsncy fe88
Recrultment
Quality Costs and Standardisatlon
NIOCN & other membershlp fees
External Vérlfication Activity
Centra Rewgnltlon Vlslt
Conference Fees
Annual Leam8r Awards
Course Development
Penslon Deflclt
Bad Debts
Centr8 leamlng grants
804.991
92.583
59,539
9,954
5,538
9.057
15.915
12,644
3,656
46,378
32.995
105.624
40M69
109.339
175
10,882
39,151
23,207
(30.999)
2,000
112,692
643.732
82.179
51.882
8.063
6.267
1,428
7,275
9,255
7,189
65,816
15,869
100,088
40,219
85,722
163
990
43,922
19,467
(24,644)
4.410
82.679
1,505,790
1.251,971
Support costs
Establlshmenl- Rent & rate8
Establishment- Llght & heat
Establl8hment- R8pairs & malntenance
Estsbli8hment- Insurance
Offlce expenses- Telephone
Office expenses- Other
Staff costs- Other
Quallflcatlon Certificates
Depredatlon
Computer costs
Hir8 and18ase of equipment
General Expenses
Interest arKI charges
Cleaning
Health & Safety Support
Document Storage
Sponsorshlp
Online Platform
44.016
7,118
1,302
11,841
21.838
79.637
2.414
39.864
14,743
64.746
8.240
7.446
43.514
7,900
1,902
9,575
18,981
55,160
29,764
13,554
58,503
10.214
2.977
190
7,611
1,533
1,249
5,936
7,169
6,073
6,947
1.248
4,382
7,953
330,092
275.712
1.835.882
1.527.683
40