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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:
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° 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.
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° 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:
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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
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° 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
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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.
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