OPEN COLLEGE NETWORK NORTHERN IRELAND
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OPEN COLLEGE NEfwoRK NORTHERN
IRELAND
Oplnlon
We have audited the financial statements ol Open College Ne￿ork Northern Ireland (the 'GhariV) for the year
ended 31 July 2024 vthi¢h comprise the Statement of Financial Activities, the Balance Sheet, the Statement of
Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting
framework that has been applied in their preparalion Is applicable law and Unlled Kingdom Accounting
Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK
and Republic of Ireland, (United Kingdom Generalty Accepted Accounting Practice).
In our opinion the flnancial statements:
give a true and fair view of the state of the charitable company's affairs as at 31 July 2024 and of its
incoming resources and application of resources, Including its income and expenditure for the year then
have b8en properly prepared in acGordance wlth United Klngdom Generally Accepted Accountlng
Practice., and
have been prepared in accordance with the requirements of the Companies Act 2006.
Bas1$ for oplnlon
We conducted our audit in accordance wslh Intemational Standards on Audlung (UK) (ISAS (UK)) and applicable
law. Our responsibilities under Ih05e stBndards are further described in the Audllorfs responsibilities for the audit
of the financial statements section of our report. We are independent of the charltable company in accordance
with the ethical requirements that are relevant to our audit of the financial statement8 In the United Kingdom,
including the Financial Reporting Council's Ethic81 Standard, and we have fulfilled our other ethScal
responslbllitieg in accordance with these requirements. We believe that thg audit evidence we have obtalned Is
sufficient and appropriate to provlde a basls for our opinion.
Concluslons relatlng to golng Concern
In audltlng th8 financ181 stat8ments, we have concluded that the Truste8s' use of the golng concern basis of
accountSng In th8 pr8P8r8tion of the financi81 statements 1$ approprlai8.
Based on the work we h8ve performed, we have not id8ntified any material uncertalnlle5 relating to events or
condition5 that, individually or collecllvely, may cast significant doubt on the charitable companys ability to
continu8 as a going concem for a period of at least t￿e1ve months from when the financlal statements are
authorised for issue.
Our responsibilities 8nd the responsibilities of the Trustees with respect to going concern are described in the
relevant sections of Ihis report.
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OPEN COLLEGE NETWORK NORTHERN IRELAND
(A Company Limited by Guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OPEN COLLEGE NETWORK NORTHERN
IRELAND (CONTINUED)
Other infomiation
The other information comprises the information included in the Annual R8POrt other than the financial
slalements and our Auditor's Report thereon. 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 atherwlse 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 dolng so, consider whether the other
information is materially inconsistent with the financial statements or our knowledge obtained in the course of the
audit, or otherwise appears to be materlally misstated. If we identify such material inconsistenci85 or apparent
material misstatements, we are requir8d lo determine whether this gives rise to a material misst8temenl in the
financial statements themselves. If, based on the work we have performed, we concludè that ther8 Is a material
misststement of this other information, we ar8 required lo report that fact.
We have nothing to report in this regard.
Opinlon on olh•r matt•r• pr••¢rlbod by the Compan1•8 Act 2006
In our opinlon, based on the work undertaken In the course of th& audit..
the Informallon gSv8n In the Truste8s' Report including the Strategic Report for th8 flnancial year for whlch
the financial statements are prepared is consistent wlth the financial statements.
the Trustees, Report and the Strategic Repart have been prepared In accordance with applicable legal
requlrements.
Matters on whlch we are requlred to report by exceptlon
In the light of our knowledge and understanding of the ch8ri1able comp8ny and its envSronment obtalned in the
course of the auéit, we have not identified material misslatem6nts In the Trustees, Report including the Strategic
R8POrt.
We have nothing to report in respect of the following matters in relation to which Companl8s Acl 2006 requires
us lo report to you If, in our opinlon..
ad8quat8 accountlng records havé not been kept, or returns adequate for our audit have not beèn
received frorn branch8s not visited by us., or
the financial statements are not in agreement with the accounting records and returns., or
ertain disclosures of Trustees, remuneration specified by law are not made., or
we have not received all the information and exp18nations we require for our audit.
Responslbllltles of trustees
As explained more fully in the TNstees' Responsibilities Statement. the Trustees (who are also the directors of
the charitable company for the purposes of company lawl 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
Trustees detemiine is necessary to enable the preparation of financial statements that are free Irom material
misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability
to continue as a gDing concern, disclosing. as applicable. matters related to going concern and using the going
concern basis of accounting unless the Trustees either intend lo liquidate the charitable company or to cease
operations, or have no realistic alternative bul to do so.
Page 17

OPEN COLLEGE NETWORK NORTHERN IRELAND
(A Company Limited by Guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OPEN COLLEGE NEfwoRK NORTHERN
IRELAND (CONTINUED)
Audltorfs responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about vthether 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 Ihal an audit conducted in
accordance with ISAS (UK) will always delect 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
expectsd to influence the e¢onomic decisions of users taken on the basis of these financial statements.
Irregularities, Includlng fraud, are instances of non-￿Mpli8nce with laws and r8gulations. We dèsign procedures
in line wlth our responsibilities, outlined above, lo detecl material misstatements in resp8¢t of irregularities,
including Iraud. The extent to which our procedures are Capable of detecting irregularitlas, Includlng fraud Is
detailed below:
We obtained an understanding of the legal and regulatory framework applicable to the company through enquiry
or management, industry research and the application of cumul81ive knowledge. We identified the following
principle laws and regulations relevant ts 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 lo the entity (includlng how fraud mlghl occur). the
controls in place to help mits'gale those rlsks, and the accounts, balances and disclosures within the financial
statements which may be susceptible to management bias. Our understanding was obtained through revlew of
the flnancial statements for significant accounting estimates, analysis of joumal entries, walkthrough of key
control cycles in place and enquiry of management.
Our procedures to respond lo those risks identified included, but were not limited to:
Enquiry of management, those charged with govemance and the entiws solicitors around actual and
potential liligalion and claims.
Enquiry of management to identify any instances of non-compliance with laws and regulations.
Reviewing mlnules of meetings of those charged wlth governance.
Revlewing financlal statement disclosures and testing to supporting documentatlon to assess compliance
Ih applicable laws and regulations.
Auditing the risk of m8nagemenl override of controls, including through testing joumal entries and other
adjustments for appropriatenes8, and evaluatSng the business rallonal8 of signlfic8nt transactions outslde the
normal course of business.
A further d8s¢ription of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Coun¢il's website at.. ￿.f
.uklaudito
onsibilities. This descrlpiion forms part of our
Auditor's Report.
Use of our report
This report is made solely to the charitable comp8nVs members. as a body, 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 Ihe charitable
company's members those matters we are required lo state to them in an Auditorfs Report and for no other
purpose. To the fullest extent permitted by law. we do not ac￿pt or assume responsibility to anyone olher than
the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we
have formed.
Page 18

OPEN COLLEGE NETWORK NORTHERN IRELAND
(A Conwny Linthd by Guarant••
INDEPENDETrTf AuDrro￿s REPORT TO THE IAEMBERS OF OPEN COLLEGE NETWORK NORTHERN
IRELAND (CONTINUED)
T¢r•sa Carnpb•ll (Senlorstatutory Audllorl
lor and on behalf of
Group Account•nt¥ Umli•d
StatytoryAudltor
1-3 Arthur 8treot
Beff88t
BT14GA
MB Group Account4nt8 Llmltgd are ollgtble to aGI •B 8udltors In t8rm• of 8•drm 1212 01 the Ccmp•nl8• Act
Pa98 19