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 IYETWORK NORTHERN IRELAM)
INDEPENDENT AUDITORIS REPORT TO THE IKEMBERS OF OPEN
COLLEGE NETWORK NORTHERN tRELAND
YEAR ENDED 31 JULY 2023
Opinion
We have audited the accounts of Open College Network Northern Ircland (the '¢harity') for the year
ended 31 July 2023 which comprise th¢ Statetnent of Financial Activities, the Balance Sheet, the cash
flow statement and the notes to the accounts, including a summary of significant accounting policies.
Thc financial reporting framework that has been applied in their prcparation is applicable law and United
Kingdom Accounting Standards, including Financial Reporting Standard 102. The Financial
Reporting Standard applicable in the UK and Republic of treland (United Kingdom Generally Accepted
Accounting Practice).
In our opinion the accounts:
give a true and faii view of the state of the charitable compangs affairs as at 31 July 2023 and
of its incoming resources and application of resou￿¢$, including its income and ¢xp¢nditure,
for the y¢ar tben ended.
have been properly prepared in accordance with United Kingdom Generally Acc¢pt¢d
Accounting Practice, and
have been prepared in accordance with the requirements of the Companies Act 2CKI6.
Basls for oplnlon
We conducted our audit in accordanc¢ with International Standards on Auditing (UK) (ISAS (UK)) and
applicable law. Our responsibilities under tbose standards are fLllther described in the Auditor's
responsibilities for the audit of tbe accounts section of our report. We are independent of the charity in
accordance with the ethical requirements that are relevant to our audit of the accounts ill th¢ UK,
including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in
accordance with these requircm¢nts. We believe that the audit evidence we have obtained is sufficient
and appropriate to provid¢ a basis for our opinion.
Concluslons relatlng to going concern
In auditing the financial statements, we have concluded that the trustees, w¢ of th¢ going concern basis
of accounting in th¢ preparation of the finallcial statements is appropriate.
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OPEN COLLEGE NETWORK NORTHERN IRELAND
INDEPENDENT AUDITOR'S REPORT TO THE Tr￿mBERs OF OPEIY
COLLEGE NETWORK NORTHERN tRELAND (continued)
YEAR ENDED 31 JULY 2023
B&8ed on the work we have perforn]ed, we bave not idcntified any material unc¢rtainties relating to
events or conditions that, individually OT collectively) may cast significant doubt on the charity's ability
to continue as a going concern for a period of at least twelve month from when the financial statements
are authorised for issue.
Our r¢sponsibilities and the responsibilities of the trustees with respect to going concern ar¢ described
in the relevant sections of this report.
Other inforniadoD
The other infom]ation comprises the inforniation included in tbe annual report, other than the accounts
and our auditor's report thereon. The Tn￿tee5 are responsible for the other Infom￿tiOn. Our opinion on
the accounts does not cover the other iDforn]ation an(1 except to the extent otherwise expli¢itly stated in
our repo¢ we do not express any fonn of assurance conclusion thereon.
In connection with our audit of the accounts, our responsibility is to read the other infornlation and. in
doing so, consider whether the other infomiation is materially inconsistent with the accounts or our
knowledge obtained in the audit or otherwise appears to be Ufdterially misstated. If we identify such
material inconsistencies or apparent material misstatements, we are required to deterniine whether there
is a material misstatement in the accounts or a material misstatement of the other inforn￿t1On. If, based
on the work we have perforn]ed, we conclude that there is a material misstatement of this other
inf0rn￿tion, we are required to report that fact. We have nothing to r¢port in this regard.
Oplnlons on other matters prescribed by the CompaDles Act 2006
In our opinion, based on the work undertaken in the course of our audit..
the infonnation given in the Trustees Report for th¢ fluaneial year for which the accounts are
preparcd is consistent with the accounts; and
th¢ Trustees Rq)ort has been prepared in accordanc¢ with applicable legal requirements.
Mydtters on whlch we are requlred to report by exception
In the light of thc knowlcdgc aad understanding of the Trustees and its environment obtsined in the
cours¢ of thc audit, w¢ have not identified matcrial misstat¢m¢nts in the Trust¢es Report.
We have nothing to report in respect of the following matters in relation to wl]ich the Companies Act
2006 requires ￿ to report to you if, in our opinion:
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OPEN COLLEGE NETWORK NORTHERN IRELAND
tNDEPENDENT AUDITORIS REPORT TO THE MEMBERS OF OPEN
COLLEGE NETWORK NORTHERN IRELAND (continued)
YEAR ENDED 31 JULY 2023
adequatc ￿COUnting r¢cor(Ls bavc not been kepL or rctutlls adequate for our audit have not been
received from branckles not visiled by us. or
the accounts are not in agreement with the accounting record8 and returns; or
certain disclosure8 of tn￿tees, remuneration specified by law are not made. or
we bave not reccived all the inforniation and explanatiotLS we require for our audit.
Responsibilitles of Trustees
As explained more fully in the Statement of Trustees Responsibilities, the Trustees, who are al80
directors of the charity for the purpose of company law, are responsible for the preparation of the
accounts and for being satisfied that they give a In￿ and fair view, alld for such internal control as the
stees dcterniine is ncccssary to enable the preparation of accounts that are free from material
rnisststement, whether due to fraud or error.
In prqyaring thc accounts, the Trustees are responsible for assessing the CI￿lty'S ability to continue as
a going concern, disclosing, as applicable, matters related to going concern and using the going concern
basis of accounting UDIc5s the Trustees either intcnd to liquidatc thc company or to ¢¢ase operations, or
have no realistic alternative but to do so.
Auditor's respon8lblllde8 for the audlt of the flDanclAI statements
Our objectiv¢s arc to obtain reaso1￿ble assu￿￿Ce about whether the accounts as a whole are free from
mat¢rial misstatemenL whether due to fraud or error and to issue an audito￿5 report that includes our
opinion. Reasonable &8suran¢e is a bigh 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 infiuence the economic decisions of users taken on the basis of these accounts.
Irregularities, including fraud, are in5tanc¢s of non-compliance with laws and regulations. We design
procedur¢s in linc with our responsibiliti¢s, outlin¢d above, to d¢t¢ct material misstat¢mcnts in respect
or itrcgularities, including fraud, is detailed b¢low.
We obtained an understanding of the legal and regulatory framework applicable to the Company through
enquiry or management, industy research and the appIl￿tiOn of cumulative knowledge. We identifi
the following principle laws and regulations relevant to the company - Companies Act 2006 and the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
We developed an understanding of the key fraud risks to the entity (including how fraud might occur),
the controls in place to help mitigate those risks, and the accounts, balances and disclosures witbin the
financial statements which may be susceptible to management bias. Our understanding was obtained
through review of the fmancial statements for significant accounting estimates, analysis of journal
entries, walktbrough of key control cycles in place and enquiry of management.
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OPEN COLLEGE NETWORK NORTHERN IRELAI
YDEPENDENT AUDITORIS REPORT TO THE MEMBERS OF OPEN
COLLEGE NETWORK NORTHERN IRELAND (continued)
YEAR ENDED 31 JULY 2023
Our procedures to respond to those risks identified included, but were not limit¢d to:
Enquiry ofmanagement. those charged with governance and the entity's solicitors around actual
and potential litigation and claims.
Enquiry of mauagetnent to identify any instances of non-compliaDC¢ with laws and regulations.
Reviewing minutes of meetings of thos¢ chargcd with governance.
Reviewing financial statement disclosures and testing to supporting documentation to assess
compliallce with applicable laws and regulations.
Auditing the risk of management ovetride of controls, including tlrough testing journal entries
and other adjustments for appropriateness, and evaluating the busiuess rationale of significant
transactions outside the llorn￿l course of business.
A further description of our responsibilitie8 for the audit of the accounts is locatsd on the Financial
Reporting Council's website at: http'.l/www.frc.org.uk/auditorsrespollsibilities. This description fornjs
part of our auditoVs report.
This report is made solely to tbe charitable company's members. as a body, in accordance wilh Chapter
3 of Part 16 of the Companies Act 2006 and rcgulatlolls made under that Act. Our audit work has been
undertaken 80 that we might state to the charitable company's members those n]atter8 we ar¢ required to
state to them in an auditors, report and for no other purp08e. To the fullest ¢xtent pern]itted by law. we
do not accept or asswne responsibility to anyone other than the clwitable company and its members as
a body, for our audit work, for this Teport, or for the opinions we have fonlled.
J L GRANT (Senior Ststutory Auditor)
For and on behalf of
FPM ACCOUNTANTS LTD
Chartered Accountants
& Statutory Auditor
Unit I, Building 10
Central Park
Mallusk
Co Antrim
BT36 4FS
22-1 i-L(JZ3
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