Registered number: NI050863 Charity number: 100241
OPEN COLLEGE NETWORK NORTHERN IRELAND (A Company Limited by Guarantee)
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
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OPEN COLLEGE NETWORK NORTHERN IRELAND
(A Company Limited by Guarantee)
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## CONTENTS
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Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 1
Trustees’ Report 2-15
Truatees' Responsibllity Statement 16
Independent Auditor's Report on the Financial Statements 17 -20
Statement of Financial Activities 21
Balance Sheet 22 - 23
Statement of Cash Flows 24
Notes to the Financial Statements 25 - 37
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OPEN COLLEGE NETWORK NORTHERN IRELAND (A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31ST JULY 2025
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|---|---|---|---|---|
|Trustees|Mr Paul|Donaghy,|Chair|
|Mrs Anne-Marie|McClure|MBE,|Vice|Chair|
|Mrs|Kate|Fleck,|Trustee|
|Mrs|Edith|Shaw,|Trustee|
|Mr Anthony|McAteer,|Trustee|
|Mrs Ann|McGuinness,|Trustee|
|Dr|lan|Walters,|Trustee|
|Mr John|D’Arcy OBE,|Trustee|
|Mrs|Michele|Marken|OBE,|Trustee|
|Dr Jonathan|Heggarty|MBE,|Trustee|
|Mr|Ken|Webb|MBE,|Trustee|
|Mr Barry|Neilson,|Trustee|
|Company|registered|
|number|NIO50863|
|Charity|registered|
|number|100241|
|Registered|office|Sirius|House|
|10|Heron|Road|
|Unit|5|
|Belfast|
|BT3|PLE1|
|Company|secretary|Mr Martin|Flynn|
|Chief executive|officer|Mr Martin|Flynn|
|independent auditor|AAB|Group|Accountants|Limited|
|1-3|Arthur|Street|
|Belfast|
|BT1|4GA|
|Bankers|Danske|Bank|
|Donegal|Square West|
|Belfast|
|BT18|SHW|
|Barclays|Bank UK|pic|
|1|Churchill|Place|
|London|
|E14 5HP|
|Senior Management|Mr Martin|Flynn,|Chief Executive|Officer|
|Team|Mrs|Lisa|Robinson,|Director of Compliance & Audit|
|Mrs Jo|Bailey,|Director|of Business|Development|
|Mrs Charlotte|Fegan,|Director of Corporate|Services|
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OPEN COLLEGE NETWORK NORTHERN IRELAND
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TRUSTEES ANNUAL REPORT
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YEAR ENDED 31 JULY 2025
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## Foreword from our Chairperson
It gives me great pleasure to present the Annual Trustees Report for the year ending 31 July 2025. This year has been particularly significant for Open College Network Northern Ireland (OCN NI) as we celebrated our 30th Anniversary, a milestone that reflects three decades of commitment to teaming, innovation, and opportunity.
To mark our 30th anniversary, we are proud to reaffirm our commitmentto education and skills development through three key pledges:
Opportunity for Alc Breaking down barriers to learning and promoting access to relevant, inclusive qualifications for learners of all ages and abilities.
Coltaboration at the Core: Strengthening partnerships with policymakers, providers, employers and communities to ensure our qualifications remain meaningfut and impactful. Nurturing Innovation: Leading the way with forward-thinking technical and professional education that embraces sustainability, technology and change.
These pledges reflect our promise to build a more inclusive and dynamic learning environment across Northern Ireland, where taarning becomes the golden thread running through all public policy and funding decisions, ensuring long-term impact and inclusive growth.
The achievements outlined in this report are a testament to the dedication of our staff, the vislon of our Board, and the invaluable partnerships we have built with centres, employers, and stakeholders across Northern Ireland. Together, we have expanded opportunities for learners, embraced digital transformation, and upheld the highest standards of quality and integrity.
As we look ahead, our commitment remains unwavering: to Innovate, to collaborate, and to champion lifelong learning. | would like to extend my sincere thanks to everyone who has contributed to our success this year and over the past three decades. Your support ensures that OCN NI continues to make a real andlasting difference.
Warm regards,
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Chairperson
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OPEN COLLEGE NETWORK NORTHERN IRELAND
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(A Company Limited by Guarantee)
## Purpose and Aims
Welcome to the Open Coliege Network Northern Ireland (OCN NI) annual trustees’ report. OCN NI exists to advance the provision of education and lifelong learning for the pubtic benefit. We are an educational charity and an Awarding Organisation that advances education by developing nationaily recognised qualifications and recognising the achievements of adults and young people.
## Our Mission
To develop and award qualifications that engage, enrich and equip learners for life.
## Our Vision
A successful, inclusive society where every learner matters.
We work with centres such as Further Education Colleges, Private Training Organisations, Voluntary & Community Organisations, Schools, SME’s and Public Sector bodies to provide learners with opportunities to progress into further learning and/or employment.
We are a self-financing organisation and reinvest all of our resources back into the development of new qualifications and educational resources. OCN NI works to highlight the positive impact of educational achievernents for individuals, their famities and the associated benefits far community transformation.
## Charitable Objects
Our charity’s purpose as set out in the objects contained in the company’s Memorandum and Articles of Association is to:
e Advance the provision of education and lifelong learning for the public benefit.
The charity aims to promote the education and training of adults, children and young people in such ways as the directors think fit. These include:
- ® Promoting lifelong learning for tha wider community through the development of individual capabilities, competencies, skills and understanding in areas of educational value.
- e Working with stakeholders and partners ta promote and provide access to learning and accreditation opportunities that facilitate lifelong learning and work-related skills.
- ® Providing an opportunity to those who have least benefited from traditional education. ¢ Recognising achievement, accrediting learning, awarding qualifications and supporting continuous improvement in lifelong leaming and work-related skills.
## Ensuring our work delivers our aims
This report looks at what we achieved and the outcomes of our work over the previous 12 months. The review looks at the success of each key activity and the benefits they have brought to those groups of people we are set up to support. The review also helps us ensure our aims, objectives and activities remain focused on our stated charitable purposes. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
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OPEN COLLEGE NETWORK NORTHERN IRELAND
## (A Company Limited by Guarantee)
## Governance and Management
Open College Network Northern Ireland (OCN NI)is a company limited by guarantee governed by its Memorandum and Articles of Association and registered as a charity with the Charity Commission for Northern Ireland. OCN NI is the leading Professional and Technical Awarding Organisation in Northern Ireland. Regulated by CCEA Regulation and Ofqual, we develop and award Professional and Technical Qualifications. OCN NI is governed by 12 trustees, who are also responsible for setting the pay and remuneration of the charity’s senior management personnel.
## Financial Review
OCN NI has developed strong financial management and control systems to support its work. During the year, the company continued to deliver high levels of customer service witha strong emphasison value for money. OCN NI continues to generate income from its annual centre and learner registration fees. During a successful accounting period, we finished the year with a healthy surplus of £335,662 The excellent financial results for this accounting period were achieved through the hard work of the Chief Executive and his team in tightly controlling costs, managing existing centre accounts and diversifying into new areas of work.
OCN NI previously contributed to a growth pension scheme 1-3 with TPT retirement solutions. Thisactuarial schemevaluation has a pensionas of 30 Septemberdeficit liability 2024.of £14,498.To mitigatTh **e** thisliability risk, hasthe been Boardcalculatedof Trustees based set up on a Pensions Committee and sought expert advice, which routinely assessed any potential financial risk to the organisation. The closing reservesatyear end totalled £4,744,099 (FY24: £4,408,437).
## Reserves Policy
The Board of Trustees has examined the charity’s requirements for reserves in light of the main risks to the organisation. Ithas an established reservespolicy that requires OCN NI to hold free reserves equivalent to 18 months of recurrent overhead expenditure (by recurrent overhead expenditure, we mean the revenue costs associated with running the organisation, which includes the direct service delivery costs). This will ensure that if the worst happens and the organisation needs to be closed down, there willbe sufficient fundsto meet all of its obligations and liabilities as part of a managed exit. This policyis closely monitored by the Board of Trustees. Any call upon the use of reserves will be at the approval of the Board of Trustees, which will examine the rationale for doing so and agree on an amount as appropriate. The free reserves as at year end total £3,939,891. Therefore, OCN NI hold free reserves equivalent to 18 months of recurrent overhead expenditure.
Recruitment and Appointment of Trustees The Directors of the company are also Charity Trustees for the purposes of charity law and under the company’s Articles, are known as members of the Board of Directors. All members of the Board of Directors give their time voluntarily and receive no financial benefits from the charity. Each Director is required to sign a Conflict of Interest Register annually. Two committees are established to support the work of OCN NI with relevant Terms of Reference and standing orders to govern the conduct of meetings. The committees are Finance and General Purposes and Compliance and Audit. Trustees are recruited and appointed accordingto the Memorandum and Articles of Association. Allnew board members undergo induction trainingto brief them on their roles, responsibilities and legal obligations under charity and company law. Further training is provided tothe Board on our decision-making, strategic and operational planning, organisational structure and key activities. Areas of training and development are identified annually and provided to the board of Directors, as appropriate.
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OPEN COLLEGE NETWORK NORTHERN I[RELAND
## (A Company Limited by Guarantee)
## Risk Management
OCN NI has a robust risk management policy and processes which report potential risks and their management to each Committee and the Board. Each department maintains an operational risk log. Arisk register has been established and is updated monthly. Where appropriate, systems or procedures are put in place to mitigate the risks the charity faces. Financial risks of the organisation are assessed by the Senior Leadership Team every month, and findings are presented to the Board of Trustees quarterly. In addition, the Board of Directors has processes in place to report any serious incidents to CCNI.
## Safeguarding
The Board of OCN NI takes ail reasonable steps to protect beneficiaries, staff and all those connected with the activities of the charity and who come into contact with the charity, from harm.
## Organisational Structure
The Board of OCN NI ensures the good governance of the organisation by setting its strategic objectives and policies. The Board and its Committees monitor progress against objectives at each meeting. The Chief Executive appointed by the Board has delegated authority and accountability for operational matters, which include the achievement of agreed objectives as set out in the strategic and operational plans. The Senior Leadarship Team, which is responsible for monitoring progress against the operational objectives, comprises the CEO and three departmental directors: the Director of Business Development, the Director of Compliance & Audit and the Director of Corporate Services.
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## OPEN COLLEGE NETWORK NORTHERN IRELAND
(A Company Limited by Guarantee)
## Who used and benefited from our services?
OCN NI continues to be the leading Professional and Technical Awarding Organisation in Northern Ireland. As a registered charity, our purpose is to advance education.
We are committed to ensuring that learners of all ages and abilities maximise their full potential. Since OCN NI was established, we have developed economically relevant and learner-engaging curricula, which have benefited the lives of over half a million people living in NI.
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We are an independent, self-financing charitable organisation that has a proven track record of delivering and contributing to the Ni Programme for Government. As an indigenous Awarding Organisation based in Belfast, our priority is to develop and maintain qualifications tailored to the needs of people living and working in NI. We continue to work with Further Education Colleges, Schools, Training Organisations, Third Sector Organisations, Health Trusts, Prisons and other education and training organisations. Our offices are based in Belfast, and we are regulated by statutory bodies to develop professional and technical qualifications from Entry Level up to and including Level 5 across all subject areas.
Our flexibility and responsiveness to economic need ensure our qualifications are tailored to the needs of education and training providers, employers, learners and align with the outcomes of the NI Programme for Government.
Through our recognised centres we provide access to meaningful, accessible, and affordable qualifications, which play a key role in improving life opportunities. This empowers learners to realise their full potential and make a positive contribution to our society.
Ouring the academic year 2024/25 a total of 73,779 learners benefited from OCN NI qualifications. This was a 12% growth in registered learners from the previous year.
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OPEN COLLEGE NETWORK NORTHERN IRELAND (A Company Limited by Guarantee)
Our Year in Numbers
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Learner Registrations
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Certificates Awarded
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OPEN COLLEGE NETWORK NORTHERN IRELAND (A Company Limited by Guarantee)
No. Certificates Awarded by Qualification Level 710_ 180
es Entry Level otleveli sLevel2 elavel3 sLavel4 «LevalS
## Certificates Awarded by Subject Area
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5% 6%
5% 2%0%
ff 1% «= Health,Agnoulture, PubicHorticultureServices andandCareArémol Core
14% « Engineering and Manufacturing Technologies
« Construchan, Alanningand the Built Ervisonment
2 Digital Technology
« Retad and Commercuat Enieprse
=] a * Lelsure, Travel and Toutisen
a 3% =«An Hi s tory,, MechaPhijasaphy and Publishingand Theotogy
« Languages, Literature ard Culture
45% ® Education and Training
» Preperatuon tor Lite and Work
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« Business, Admintstration ard Law
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## OPEN COLLEGE NETWORK NORTHERN IRELAND (A Company Limited by Guarantee)
## Accreditations
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During the academic year 2024/24, OCN NI demonstrated its unwavering commitment to
excellence and continuous improvement by securing several prestigious accreditations. These
include the Investors in People Gold award, reflecting our dedication to valuing and supporting
our staff; ISO 9001 certification, recognising the quality and efficiency of our management
systems; and Cyber Essentials accreditation, underscoring our robust approach to
cybersecurity. These achievements highlight our determination to uphold the highest standards
across all aspects of our operations, ensuring confidence for our stakeholders and delivering
exceptional value to learners and partners alike.
GES
INVESTORS INPES?PLE) 2S @©)0001Certified CYBER
We invest in people Go'd VSI ESSENTIALS
Training Delivery
“S.. As part of our commitment to advancing
et thet _y education in Northern Ireland, we provide free
7 e. +s er ¢ > support and training to all our recognised
; 4 = Fe *; = centres. Throughoutthe year, we delivered 97
wee s training events and reached aver 1,958
,) Fe Fa tutors/teachers. This includes both
* a and provides anyone new to teaching with a
S : Cs assessment and internal verification training
& .| betterrequiredunderstandingand how to buildof awhatlearnerevidenceportfotio.is
It also provides opportunities for centres to share best practices and experiences of assessment
and internal verification with others.
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## Essential Skills Provision
In Northern Iretand, there has been a great deal of progress in improving literacy and numeracy skills in recent years. However, our current literacy and numeracy proficiency is still some way behind tne top-performing countries and is below the Organisation for Economic Co-operation and Development (OECD) average. For Northern Ireland to compete globally, we must continue to improve our proficiency in literacy and numeracy skills.
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OPEN COLLEGE NETWORK NORTHERN IRELAND
(A Company Limited by Guarantee) OCN NI is now the largest provider of Essential Skills Qualifications in NI, with currently 139 centres approved to deliver Essential Skills Qualifications. Our qualification suite supports the outcomes in the '3 Year Economic Strategy’ and can be truly life-changing for some learners. They have helped people to read a newspaperfor the first time to find out what is happening in their community, fill in an application form and, as a result, get a job, read nates from their chitdran’s school, help their children with their homework for the first time and/or use the internet to keep in touch with family and friends.
During the academic year 2024/25 OCN NI awarded 15,281 Essential Skills Qualifications to leamers throughout NI.
## Learning Endeavour Awards 2025
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Over 350 learners, teachers, tutors, end special guests celebrated the OPEN COLLEGE
NETWORK NI (OCN) Learning Endeavour Awards 2025 at Titanic Belfast (24 June 25).
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The annual awards, now in their 7th year, were hosted by Denise Watson and aim to celebrate the achievements of learners who have gone to exceptional lengths to achieve their learning goals. This year’s special guest was Matthew Bell, the former Ireland intammational hockey player who shared his remarkable story after being given a day to live by madics back in 2019 when they discovered he had a brain tumour.
A total of £16,000 was awarded to leamers and education and training providers through learning bursaries from across the province who have achieved extraordinary results, with some learners overcoming numerous personal hurdles to achieve their technical and professional OCN qualifications. The learners and providers recognised at the OCN Learning Endeavour Awards are a powerful reminder of the profound impact that education can have on individuals and communities. Economy Minister Dr Cacimhe Archibald gave the opening speech at the awards ceremony.
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OPEN COLLEGE NETWORK NORTHERN IRELAND (A Company Limited by Guarantee) Martin Flynn, Chief Executive OCN, said: “This year’s awards ceremony had an extra special feel to it given it’s our 30th anniversary year. | am delighted that once more OCN was able to provide a unique platform for learners to take centre stage, sharing their inspiring stories of achievement.”
Martin added: “I would like to thank Economy Minister Dr Caolmhe Archibald for attending. The Minister commented on the positive alignment between the Department and OCN in relation to the key role learning plays in economic growth. | would also like to thank our guest speaker, Matthew Bell, for sharing his remarkable story. His brain tumour recovery journey is a true inspiration and a great example of what can be achieve with the right support and motivation.” Economy Minister Or Caoimhe Archibald said: “| was delighted to open the OCN Learning Endeavour recognised skills, and progress into meaningful fer Awards. OCN help people build confidence, gain Ban! O employment. | offer my warmest congratulations to a “f allthe award nominees and winners and want to pay y a = tribute to their commitment and inspiring stories.” tr! = Sf The Third Sector Laarner of the Year winner was Siun , SM **c** Carthy,hools LearnerBolsterof Communitythe Year awardtakingwenthometo Leonthe Callaghan, St Patrick’s College, Maghera; OCN 4 } Provider of the Year category winner was Clanrye —— * Group, and the Inspiring Tutor/Teacher of the Year ™® award went to Peter Knox, Rossmar School, ~ Va if 3 Limavady. aad Pe a ' c # - S Our Awards Ceremony gives prominence to the accomplishments of individuals who have overcome significant social, economic and educationa! barriers that previously prevented them from realising their full potential. OCN NI qualifications are making a real difference in the life choices of individuals, their families and our community. Sam Welsh, Northern Regional College won Further . ! Education Learner of the Year category, with Mustafa Alshowely from Peopte ‘st, collecting the Essential Skills s Learner of the Year category. i 77 " TheBoyle,HealthAction& Well-beingMental Health;LearnerandofSouth the YearEastern went toRegionalGavin rs j College - Truffle Shop won the Advancing Learning Through Innovation category; Trainseship/Apprenticeship Learner of the Year was won by Eugene Prunty, South Eastern Regional College. The final Award of the 2025 ceremony, the Hilary Stoan MBE [aaa si Learning Endeavour Award, in memory of the former OCN Chair who was a powerful advocate of life-long learning, was announced by OCN Vice Chair Anne-Marie McClure, the award went to Eugene Prunty winner of this year's Traineeship/Apprenticeship Learner of the Year category. OCN NI Chairperson Paul Donaghy commented: “The Hilary Sloan MBE Learning Endeavour
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OPEN COLLEGE NETWORK NORTHERN IRELAND
## (A Company Limited by Guarantee)
Award is richty deserved by Eugene Prunty from South Eastern Regional College (SERC). Eugene willreceiva an additional £1,000 learning bursary award. His story of commitment and dedication was truly inspiring, and his accolades are richly deserved. | would like to congratulate all of our shortlisted finalists and categary winners and everyone who attended this year’s awards ceremony, one of the OCN's highlight events in our 30th anniversary year. “
## OCN NI Centre Learning Grants
The OCN NI Centre Learning Grants were established by the OCN NI Board of Trustees in 2022 to enhance the educational experiences provided by our centres. Centre Learning Grants are funded by us as a reinvestment of the previous year’s surplus and are a unique way to help us achieve our charitabte mission. Centre Learning Grants provide an opportunity for education, voluntary, private and charitable training providers to apply for additional funding to help them innovate and enhance their teaching provisions. Centre Learning Grants are intended to help the most vulnerable populations in Northern Ireland, and our goal is to help centres provide transformative learning experiences to the most disadvantaged communities, equipping them with valuable skills and experiences for the future.
Sinca 2022, OCN NI has granted over £347,000 for 133 projects across Northern Ireland. Our projects have provided transformative educational experiences to 5,000 learners, helping some of the most disadvantaged communities in Northern Ireland, including refugee populations, SEN learners, single parents, young people from the most deprived areas and more. In May 2025, we launched our “30 at 30” Centre Learning Grants programme, making £90,000 available for 30 OCN NI Centres to apply for fundingon our 30th Anniversary. We commit to continuingthe Centre Learning Grant programme and continuing to fund innovative, transformative and essential projects across Northern lretand.
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Left to right: Paul Donaghy (OCN NI Board Chair), Wendi Stevenson (Rosstulla School), Cheryl Ball (NOW Group), Ed Hanna (Utopian Learning)
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## OPEN COLLEGE NETWORK NORTHERN IRELAND
(A Company Limited by Guarantee)
Impact of OCN NI Centre Learning Grants Our centres deliver new and unique educational opportunities to our learners through the OCN NI Centre Learning Grants. Centres have taught qualifications across multiple disciplines, including construction, tiling, hospitality, building resilience, understanding mental health, creative arts, youth leadership, youth work, and emoloyability skills. The impact of OCN NI Centre Learning Grants is wide-ranging and has real, transformative results for our learners.
Our centres are at the heart of communities in Northern Ireland and work with a variety of populations. Schools have used OCN NI Centre Learning Grants to improve the provision for OCN learners at school. This includes special schools, integrated schools, contralled schools and grammar schools, all of which have used Centre Learning Grants to provide new and exciting opportunities for their learners. These projects have focused on cross community relations, extra study skills classes, funding for extracurricular activities and mare.
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il we 8 : Community groups tackling societal issues have been
*~, Ss a a Pez : ~eal awarded Centre Learning Grants. ASCERT, Northern
a = aes = Ireland’s leading drugs and substance misuse charity,
wy =Ss ,B has successfully apptied for grants for the last three
Lo i Biss @ f¥ train workers at the heart of tackling substance misuse
7. Piatt = 7; 4 with OCN NI qualifications.
f RRR ee : —_ Housing Rights has used OCN NI Centre Learning Grants
for four years to help provide expert training using bespoke qualifications to workers on the front
line of tackling homelessness in Northern Ireland.
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Youth groups such as Youth Action NI, Youth Link, Extern .
and Include Youth have received Centre Learning Grants to
halp empower our young people through extra-curricular zB
educational activities. This includes residentials, work t.
experience opportunities, meeting local employers and mn re
hosting sporting events to build confidence and embolden iv >
future generations, all while contributing to their OCN NI 4 7 a
studies in a practical way. ? . :
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Resource Centre, The Centre, The The Nerve Centre and Oh Yeah Music and Oh Yeah Music Oh Yeah Music Yeah Music Music g ; ; 1 .
Centre. These These groups have trained young people trained young people young people people interested ~ , ee
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Weinin Northern have fundedIreland, groups promotingincluding the have fundedIreland, groups promotingincluding the fundedIreland, groups promotingincluding theIreland, groups promotingincluding the groups promotingincluding theincluding the the North and developing West Play and developing West Play developing West Play West Play Play the arts arts hy3“3““ iesn)sn) a rt: rt:: Resource Centre, The Centre, The The Nerve Centre and Oh Yeah Music and Oh Yeah Music Oh Yeah Music Yeah Music Music g ; ; 1 . Centre. These These groups have trained young people trained young people young people people interested ~ , ee in music, production and theatre using OCN NI qualifications, hosting musicat shows, providing expert training and producing showcase evenis with the help of Centre Learning Grants.
OCN Nl is extremely proud of the projects we have funded so far and looks forward to continuing to fund exceptional educational projects.
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OPEN COLLEGE NETWORK NORTHERN IRELAND
(A Company Limited by Guarantee)
Strategic Plan 2024-2027
A As the leading awarding body for technical and professional
2ocn qualifications in Northern Ireland, Open College Network NI
(OCN) recognises the vital role that skills development plays in
Strategic Plan driving economic growth and promoting social mobility. For over
2024 - 2027 30 years, we have worked tirelessly to ensure that our
qualifications are relevant, up to date, and most importantly,
—— aligned with the ever-evolving needs of the labour market. This
SN commitment has enabled over 500,000 learners to progress in
.\ their education, secure meaningful employment and contribute
j positively to their communities.
= ~s In February 2024, the Economy Minister set out a bold and
ambitious vision for the Northern !reland economy, focusing on
four key objectives: creating good jobs, promoting regional
balance, raising productivity and reducing carbon emissions.
These priorities represent not only a blueprint for economic renewal but a clear call to action for
the education and skills sector.
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At OCN, we are fully committed to supporting this vision. Our 3-Year Strategic Plan outlines how we will develop and deliver qualifications that equip learners with the right skills to build sustainable careers in a rapidly changing economy.
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By working closely with our partners across education, industry and government, we will continue
to provide inclusive, flexible and responsive leaming pathways that meet the demands of
employers and the aspirations of individuals.
We look forward to the opportunities and challenges ahead as we strive to make a lasting, positive
impact on Northem Irelandis skills landscape.
Our mission Is to develop and award qualifications which engage, enrich and equip learners for life. To
achieve this mission,we have tdentified three strategic prioritiss:
“01 — Tebe the awarding organisationof choice
he — Tepromote learning as a tool for transformation
ad
“03 =- Tobelnnovative,creative and continuously improve
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OCN NI is fully committed to supporting these goals. As the leading provider of professional and technical qualifications in Northern Ireland, we recognise the importance of skills development in driving economic growth and promoting social mobility. We are committed to working closely with employers, educational institutions, and other stakeholders to deliver high-quality qualifications and services that meet the changing needs of learners and employers.
We are confident that with the right focus and efforts, we can achieve our goals and build a stronger, more resilient Open College Network in Northem Iretand.
14
## OPEN COLLEGE NETWORK NORTHERN IRELAND
(A Company Limited by Guarantee)
## Contributing to the Programme for Government: Doing What Matters Most
Open College Network Northern Ireland (OCN) is proud to align its Strategic Plan with the core priorities of the Northern Ireland Executiveis Programme for Government, particularly iGrow a Globally Competitive and Sustainable Economy and Shaping a Better Tomorrow. Over the next three years, we are committed to ensuring that our qualifications play a central role in driving economic growth, improving employability and creating a fairer, more inclusive society.
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te SEY To supportthe goal of growing a globally
a et = competitive and sustainable econamy, OCN
~ rete eS=— isreflect focused the skillson developing employers and qualifications workers needthat
; > * both now and in the future. We are expanding
a -_ * -¢ : our range of qualifications in key growth areas
* ye —_ such as digital technology, green energy,
¢ a ~¢ ee care. Through strong collaboration with
Lines [me][a] a = =o industry, government, and education
providers, we will ensure our qualifications remain relevant, future-focused and responsive to
the evolving labour market. Our commitment to promoting lifelang learning will support people
at all stages of their careers, enabling upskilling and reskilling apportunities in line with
economic demands. We are atso embedding principles of sustainability and innovation across
our qualifications to help build a workforce ready to meet the challenges and opportunities of a
green economy.
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In contributingto the priority of shapinga Vs 4
better tomorrow, OCN is committed to ‘ se
improving access to good jobs through 3 Lp a
qualifications.high-quality technical We are and enhancing vacationallearning onba —,(= i } al
pathways that support transition into DPT Ke es
employment, further education and - \ i 44 as ag
traineeships/apprenticeships. Our work = CS « : C
placesopportunities particular for thoseemphasis who on are p r ovidingeturning to eSa is-nn...* . ai=
the labour market, such as parents, carers and individuals who have experienced economic
inactivity.
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By working closely with community and voluntary organisations, we aim to reduce barriers to learning and widen participation, particularly among underrepresented groups. Our qualifications are designed to be accessible, flexible and focused on real-world outcomes, helping individuals to build confidence, gain employment and achieve their personal and professional goals.
Through our work, we will develop qualifications that not only support a competitive economy but also foster inclusion, opportunity and resilience across Northern Ireland.
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OPEN COLLEGE NETWORK NORTHERN IRELAND
(A Company Limited by Guarantee)
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TRUSTEES' RESPONSIBILITY STATEMENT
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Company law requires the Trustees to prepare financial statements for each financial year. Under that law, the Trustees have elected to prepare the financial statements in accordance with the United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company taw, the directors must nat approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the trust and of the surplus or deficit of the trust for that period. In preparing these financial statements, the Trustees are required to: « Select suitable accounting policies and then apply tham consistently; ° Observe the methods and principles in the Charities SORP; . Make judgments and estimates that are reasonable and prudent; and . Prepare the financial statements on the going concem basis unless it Is inappropriate to prasume that the company wilt continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and snable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are aiso responsible for safeguarding the assets of the charity and hence to take reasonable steps to prevent and detect fraud and other irregularities.
Disclosures of Information to Auditors To the knowledge and belief of the Trustees there is no relevant information of which the company’s auditors are not aware. The Trustees have taken all the necessary staps of which they are aware, provided relevant information and established that the company’s auditors are aware of the information.
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Appr by order of the members of the board of Trustees and signed on their behalf by:
r Paul Donaghy
a
Date: ff] JZ 22>
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OPEN COLLEGE NETWORK NORTHERN IRELAND
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(A Company Limited by Guarantee)
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OPEN COLLEGE NETWORK NORTHERN
IRELAND
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## Opinion
We have audited the financial statements of Open College Network Northem Ireland (the ‘charity)) for the year ended 31 July 2025 which 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 preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable In the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).
## In our opinion the financial statements:
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e give a true and fair view of the state of the charitable company's affairs as at 31 July 2025 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
e have been prepared in accordance with the requirements of the Companies Act 2006.
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## Basis for opinion
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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 Auditor's responsibilities for the audit
of the financial statements section of our report. We are independent of the charitable 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.
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## Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees’ use of the golng concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have perfarmed, we have not identified any materiat uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the 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.
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OPEN COLLEGE NETWORK NORTHERN IRELAND (A Company Limited by Guarantee)
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OPEN COLLEGE NETWORK NORTHERN
IRELAND (CONTINUED)
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Other information
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The other information comprises the information included in the Annual Report other than the financial
statements 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 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
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.
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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 Trustees’ Report including the Strategic Report for the financial year for which the financial statements are prepared is consistent with the financial statements.
- ° the Trustees’ Report and the Strategic Report have been prepared in accordance with applicable legal requirements.
## Matters on which we are required to report by exception
In the light of our 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 Trustees’ Report including the Strategic Report
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:
- e 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 retums; or . certain disclosures of Trustees’ remuneration specified by law are not made; or . we have not received all the information and explanations we require for our audit.
## Responsibillties of trustees
- ;
As explained more fully in the Trustees’ Responsibilities Statement, 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 stataments and for being satisfied that they give a true and fair view, and for such internal control as the Trustees 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 charitable company’s ability to continue as a going concem, disclosing, as applicable, matters related to going concern and using the going concem basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
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OPEN COLLEGE NETWORK NORTHERN IRELAND (A Company Limited by Guarantee)
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OPEN COLLEGE NETWORK NORTHERN
IRELAND (CONTINUED)
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Auditor's responsibilities for the audit of the financial statements
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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 fine with our responsibilities, outlined above, to detect material misstatements in respect of irregularities,
including fraud. The extent to which our procedures are capable of detecting irregularities, including 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 cumulative knowledge. We identified 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).
As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional
scepticism throughout the audit. We also:
° Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or
error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is
sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material
misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve
collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
° Obtain an understanding of intemal control relevant to the audit in order to design audit procedures that
are aporopriate in the circumstances, but not for the purpose of expressing an opinion of the effectiveness
of the charitable company's internal control.
« Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by the Trustees.
° Conclude on the appropriateness of the Trustees' use of the going concern basis of accounting and,
based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions
that may cast significant doubt on the charitable company’s ability to continue as a going concern. If we
conclude that a material uncertainty exists, we are required to draw attention in my Auditor's Report to the
related disclosures in the financial statements or, if such disclosures are inadequate, to modify our
opinion. Our conclusions are based on the audit evidence obtained up to the date of my Auditor's Report.
However, future events or conditions may cause the charitable company to cease to continue as a going
concem.
« Evaluate the overall presentation, structure and content of the financial statements, including the
disclosures, and whether the financial statements represent the underlying transactions and events in a
manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and
timing of the audit and significant audit findings, including any significant deficiencies in internal control that we
identify during our audit.
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## OPEN COLLEGE NETWORK NORTHERN IRELAND
(A Company Limited by Guarantee)
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OPEN COLLEGE NETWORK NORTHERN
IRELAND (CONTINUED)
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## Use of our report
This report is made solely to the charitable company's 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 the charitable company’s members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone otherthan the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
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a [-]
0@hor (erphL1A
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Teresa Campbell (Senior Statutory Auditor)
for and on behalf of AAB Group Accountants Limited
## Statutory Auditor
1-3 Arthur Street
Belfast
BT1 4GA
> Date:ate W/fas/, AAB Group Accountants Limited are eligible to act as auditors in terms of section 4212 of the Companies Act 2006.
20
## OPEN COLLEGE NETWORK NORTHERN IRELAND
(A Company Limited by Guarantee}
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31ST JULY 2025
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|||||||
|---|---|---|---|---|---|
|Unrestricted|Total|Total|
|funds|funds|funds|
|2025|2025|2024|
|Note|£|£|£|
|Income|from:|
|Donations and legacies|4|67,750|67,750|71,750|
|Charitable|activities|5|2,936,479|2,936,479|2,587,658|
|Investments|6|132,912|132,912|418,162|
|Other income|7|1,899|1,899|1,775|
|Total|income|3,139,040|3,139,040|2,779,345|
|Expenditure|on:|
|Raising funds|8|176,784|176,784|114,012|
|Charitable activities|f°)|2,626,594|2,626,594|2,239,928|
|Total|expenditure|2,803,378|2,803,378|2,353,940|
|Net movement|in funds|335,662|335,662|425,405|
|Reconciliation|of funds:|
|Total|funds|brought forward|4,408,437|4,408,437|3,983,032|
|Net movement|in funds|335,662|335,662|425,405|
|Total!|funds|carried forward|4,744,099|4,744,099|4,408,437|
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All of activities of the charity were unrestricted in nature during the 2024 financial year.
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 25 to 37 form part of these financial statements.
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## OPEN COLLEGE NETWORK NORTHERN IRELAND
(A Company Limited by Guarantee) REGISTERED NUMBER: NI050863
## BALANCE SHEET AS AT 31ST JULY 2025
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||||||||
|---|---|---|---|---|---|---|
|2025|2024|
|Note|£|£|
|Fixed|assets|
|Intangible|assets|14|45,311|29,834|
|Tangible|assets|15|416,032|367,288|
|461,343|397,122|
|Current|assets|
|Debtors|16|303,617|281,307|
|Investments|17|2,490,994|1,776,988|
|Cash|at|bank and|in|hand|1,725,708|2,137,306|
|4,520,319|4,195,601|
|Current|liabilities|
|Creditors:|amounts|falling|due|within|one|
|year|18|(224,847)|(171,570)|
|Net|current|assets|4,295,472|4,024,031|
|Total|assets|less|current|liabilities|4,756,815|4,421,153|
|Provisions|for|liabilities|(12,716)|(12,716)|
|Net assets excluding|pension|asset|4,744,099|4,408,437|
|Total|net assets|4,744,099|4,408,437|
|Charity funds|
|Restricted|funds|20|-|-|
|Unrestricted|funds|
|Designated funds|-|Free|reserves|20|3,939,891|884,666|
|General|funds|20|804,208|3,523,771|
|Total|unrestricted|funds|20|4,744,099|4,408,437|
|Total funds|4,744,099|4,408,437|
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## OPEN COLLEGE NETWORK NORTHERN IRELAND
(A Company Limited by Guarantee) REGISTERED NUMBER: NI050863
## BALANCE SHEET (CONTINUED) AS AT 31ST JULY 2025
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
f waa hy The(ChairDate:[notes] h of Trustees)onzypages om25 to 37 form part of these financial statements.
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## OPEN COLLEGE NETWORK NORTHERN IRELAND
(A Company Limited by Guarantee)
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST JULY 2025
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2025 2024
£ £
Cash flows from operating activities
Net cash used in operating activities 364,390 363,078
Cash flows from investing activities
Interest received 59,380 83,320
Purchase of intangible assets (27,258) (27,282)
Purchase of tangible fixed assets (94,104) (337,275)
Net movement in investments (714,006) (548,286)
Nat cash used in investing activities (775,988) (829,523)
Change in cash and cash equivalents in the year (411,598) (466,445)
Cash and cash equivalents at the beginning of the year 2,137,306 2,603,751
Cash and cash equivalents at the end of the year 1,725,708 2,137,306
The notes on pages 25 to 37 form part of these financial statements
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OPEN COLLEGE NETWORK NORTHERN IRELAND (A Company Limited by Guarantee)
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2025
## 1. Accounting policies 1.1 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 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Open College network Northern Ireland meets the definition of a public benefit entity under FRS 102. Assets and llabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
- 1.2 Going concern The trustees are of the view that with the level of reserves in place that the charity is a going concern.
1.3 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. General funds may be transferred to designated funds where Trustees wish to use these funds for a specific purpose. Such funds may be transferred back to general funds once the criteria for the designation have been met or are no longer applicable. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund.
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1.4 Income
All income is recognised once the charlty 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 tax recoverable in relation to investment income is recognised at the time the investment
income is receivable.
Other income 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.
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OPEN COLLEGE NETWORK NORTHERN IRELAND
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## (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2025
1. Accounting policies (continued)
## 1.5 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 allocated on the portion of the asset's use.
Expenditure on raising funds includes all expenditure incurred by the charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading. Expenditure on charitable activities is incurred on directly underlaking the activities which further the charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
- 1.6 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 lass from the date of acquisition or opening of the deposit or similar account.
- 1.7. Tangible fixed assets and depreciation
Tangible fixed assets costing ENIL 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 racognised 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 should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residuat value over their estimated useful lives, as fallows:.
Depreciation is provided on the following basis:
Freehold property - 4% straight line over 25 years New office refurbishment - 20% straight line Fixtures and fittings - 30% reducing balance Office equipment - 30% reducing balance Computer equipment - 25% straight line
26
OPEN COLLEGE NETWORK NORTHERN IRELAND (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2025
## 1 Accounting policies (continued)
## 1.8 Intangible assets and amortisation
Intangible assets 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 al cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
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.
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The estimated useful lives range as follows:
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## Computer software
5 years
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1.9 Debtors
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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.
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1.10 Liabilities
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Liabilities and provisions are recognised when there is an obligation at the Balance Sheet date as a
result of a past event, it is probable that a transfer of economic benefit will be required in settlement,
and the amaunt of the settlement can be estimated reliably.
Liabilities ara 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.
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1.11 Financial instruments
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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 excaption of bank loans which are subsequently measured at amortised cost using the effective interest method.
27
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OPEN COLLEGE NETWORK NORTHERN IRELAND
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## (A Company Limited by Guarantee)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2025
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## 1. Accounting policies (continued)
## 1.12 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. The Pension Schemes are funded by contributions from employee and employer. All employees are automatically enrolled into a stakeholder pension scheme, unless they have exercised their right to opt out of scheme membership. Open College Network Northern Ireland makes a matching contribution of between 6% and 13% 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 £129,094 (2024: £89,412). The charity operated a defined benefits pension scheme and the pension charge is based ona full actuarial valuation dated 30 September 2024.
## 1.13 interest recelvable
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Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the charity; this is normally upon notification of the interest paid or payable by the institution
with whom the funds are deposited.
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## 1.14 Taxation
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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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2. General information
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The charity is a company limited by guarantee and has no share capital.
## 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 belleved to be reasonable under the circumstances.
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## OPEN COLLEGE NETWORK NORTHERN IRELAND
## (A Company Limited by Guarantee)
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2025
## 4. Income from donations and legacies
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||||||
|---|---|---|---|---|
|Unrestricted|Total|Total|
|funds|funds|funds|
|2025|2025|2024|
|£|£|£|
|Donations|67,750|67,750|71,750|
|5.|income|from|charitable|activities|
|Unrestricted|Total|Total|
|funds|funds|funds|
|2025|2025|2024|
|£|£|£|
|Grant income|-|-|8,429|
|Fee income|(registrations)|2,925,904|2,925,904|2,569,354|
|Development income|10,575|10,575|9,875|
|2,936,479|2,936,479|2,587,658|
|6.|investment|income|
|Unrestricted|Total|Total|
|funds|funds|funds|
|2025|2025|2024|
|£|£|£|
|Bank|Interest recelvable|132,912|132,912|118,162|
|7.|Other incoming|resources|
|Unrestricted|Total|Total|
|funds|funds|funds|
|2025|2025|2024|
|£|£|£|
|Other income|1,899|1,893|1,775|
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OPEN COLLEGE NETWORK NORTHERN IRELAND (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2025
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a. Expenditure on ralsing funds
Costs of raising voluntary income
Unrestricted Total Total
funds funds funds
2025 2025 2024
£ & £
Promotion & publicity 9,375 9,375 6,126
Wages and salaries 167,409 167,409 107,886
176,784 176,764 114,012
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9. Analysis of charitable activities by activity type
Activities
undertaken Total Funds Total Funds
diractly Support costs 2025 2024
£ £ £ £
Charitable activities 2,235,919 286,010 2,521,929 2,167,722
Governance costs Ee- 104,665 104,665 72,206
2,235,919 380,675 2,626,594 2,239,928
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10. Analysis of expenditure on charitable activities by
fund type
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Unrestricted Restricted Total Funds Total Funds
funds funds 2025 2024
£ £ £ £
Charitable activities 2,235,919 - 2,235,919 1,805,091
390,675 - 390,675 434,837
Support costs
2,626,594 - 2,626,594 2,239,928
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## 41. Auditor's remuneration
The auditors remuneration amounts to an auditor fee of £8,125 (2024 - £7,750).
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## OPEN COLLEGE NETWORK NORTHERN IRELAND
(A Company Limited by Guarantee)
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2025
## 12. Staff costs
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|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|2025|2024|
|£|£|
|Wages and|salaries|1,384,634|4,078,862|
|Social|security costs|160,519|144,883|
|Contribution|to defined|contribution|pension|schemes|131,045|89,412|
|1,676,198|1,313,157|
|The|average|number of persons|employed|by the|charity during|the|year was|as|follows:|
|2025|2024|
|No.|No.|
|Particulars|of employees:|
|Number of office|staff|33|31|
|The|number|of employees whose|employee|benefits|(excluding|employer pension|costs)|exceeded|
|£60,000|was:|
|2025|2024|
|No.|No.|
|in|the band|£80,001|- £90,000|.|1|
|In the|band|£90,001|- £100,000|1|-|
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The key management personnel of Open College Network Northern Ireland comprise the Chief Executive Officer, Director of Business Development, Director of Compliance and audit and Director of Corporate Services. The employee benefits of the key management personnel of the charity were £292,003 (2024: £261,156).
## 13. Trustees’ remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2024 - £NiL).
During the year ended 31st July 2025, expenses were reimbursed or paid directly to Trustees’ totalled £4,275 (2024: £2,033) broken down as follows:
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Travel
Accommadation
Subsistence
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2025 2024
£ £
2,061 905
1,058 41,120
1,156 8
4,275 2,033
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OPEN COLLEGE NETWORK NORTHERN IRELAND (A Company Limited by Guarantee)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2025
14, Intanglble assets
Computer
software
£
Cost
At 1 August 2024 220,156
Additions 27,258
At 31st July 2025 247,414
Amortisation
At 1 August 2024 190,322
Charge for the year 11,781
At 31st July 2025 202,103
Net book value
At 31st July 2025 45,311
At 31st July 2024 29,834
S===
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16. Debtors
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2025 2024
£ £
Due within one year
Trade debtors 165,724 171,586
Other debtors - 14,056
Prepayments and accrued income 137,893 95,665
303,617 281,307
17. Current asset investments
2025 2024
£ £
Unlisted Investments 2,490,994 1,776,988
Current asset investments relate to monies held in medium term (6-24 month) deposit accounts with
financial institutions.
18. Creditors: Amounts falling due within one year
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2025 2024
£ £
Trade creditors 118,783 57,744
Other taxation and social security 37,417 22,327
Accruals and deferred income 68,647 91,499
224,847 171,570
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19. Provisions
Other
provision
£
At 1st August 2024 12,716
12,716
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## OPEN COLLEGE NETWORK NORTHERN IRELAND
## (A Company Limited by Guarantee)
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2025
## 20. Statement of funds
## Statement of funds - current year
||Balance at||||Balance at|
|---|---|---|---|---|---|
||1stAugust|||Transfers|31st July|
||2024|Income|Expenditure|in/out|2025|
||£|£|£|£|£|
|Unrestricted funds||||||
|Designated funds - Free||||||
|reserves||||||
|Designated Fund - staffreserve|884,666|-|-|(884,666)|-|
|Designated Fund - Free||||||
|Reserves|-|-|-|3,939,891|3,939,891|
||884,666|-|-|3,055,225|3,939,891|
|General funds||||||
|General Funds- all funds|3,523,771|3,139,040|(2,803,378)|(3,055,225)|804,208|
|Total Unrestrictedfunds|4,408,437|3,139,040|(2,803,378)|-|4,744,099|
|Statement offunds - prioryear||||||
||Balance at||||Balance at|
||1stAugust|||Transfers|31stJuly|
||2023|Income|Expenditure|infout|2024|
||£|£|£|£|£|
|Unrestricted funds||||||
|Designated funds||||||
|Designated Fund- staffreserve|884,666|-|-|-|884,666|
|General funds||||||
|General Funds - all funds|2,733,366|2,779,345|(2,353,940)|365,000|3,523,771|
|TotalUnrestrictedfunds|3,618,032|2,779,345|(2,353,940)|365,000|4,408,437|
The Trustees have opted to designate their free reserves (being 18 months of operating expenditure) as a separate reserve at 31 July 2025. This will be reassessed on an annual basis, in line with the Charity's reserve policy.
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## OPEN COLLEGE NETWORK NORTHERN IRELAND (A Company Limited by Guarantee)
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2025
## 21. Summary of funds
## Summary of funds - current year
||Balance at||||Balance at|
|---|---|---|---|---|---|
||1stAugust
2024|Income|Expenditure|Transfers
in/out|31stJuly
2025|
||£|£|£|£|£|
|Designated funds|884,666|-|-|3,055,225|3,939,891|
|General funds|3,523,771|3,139,040|(2,803,378)|(3,055,225)|804,208|
||4,408,437|3,139,040|(2,803,378)|-|4,744,099|
|Summary offunds - prioryear||||||
||Balance at||||Balance at|
||1stAugust|||Transfers|31stJuly|
||2023|Income|Expenditure|in/out|2024|
||£|£|£|£|E|
|Designated funds|884,666|-|-|-|884,666|
|General funds|2,733,366|2,779,345|(2,353,940)|365,000|3,523,771|
||3,618,032|2,779,345|(2,353,940)|365,000|4,408,437|
## 22. Analysis of net assets between funds
Analysis of net assets between funds - current year
||Unrestricted
funds|Total
funds|
|---|---|---|
||2025|2025|
||£|£|
|Tangible fixed assets|416,032|416,032|
|Intangible fixed assets|45,311|45,311|
|Current assets|4,520,319|4,520,319|
|Creditors due within one year|(224,847)|(224,847)|
|Provisions for liabilities and charges|(12,716)|(12,716)|
|Total|4,744,099|4,744,099|
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OPEN COLLEGE NETWORK NORTHERN [IRELAND
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(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2025
22. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
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Unrestricted Total
funds funds
2024 2024
£ £
Tangible fixed assets 367,288 367,288
Intangible fixed assets 29,834 29,834
Current assets 4,195,601 4,195,601
Creditors due within one year (171,570) (171,570)
Provisions for fiabilitlas and charges (12,716) (12,716)
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23. Operating lease commitments
The charity had no commitments under non-cancellable operating leases at 31st July 2025.
## 24. Related party transactions
The charity has not entered into any reiated party transaction during the year, nor are there any outstanding balances owing between related parties and the charity at 31st July 2025.
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