New College Lanarkshire
Latest income
£60.1m
Latest spending
£62.5m
Accounts read
FY2025
Form
Statutory corporation (Royal Charter etc)
Financial health, per FY2025 accounts
The accounts state that the Lanarkshire Region secured an underlying operating surplus of £662k for the year ended 31st July 2024, reversing a deficit in the prior year. However, the College faces significant financial pressure due to high inflation and limited direct funding, requiring cost reduction measures and a Voluntary Severance Scheme. The forecast for the following year acknowledges a difficult financial position and a cash deficit that requires Scottish Funding Council support to address short-term liquidity.
What the accounts disclose
Related-party transaction: Amcol Scotland Limited paid rent/service charges
“Rent and Service Charges payable to the College by Amcol Scotland Limited totalling £185k were paid” — page 106
Per FY2025 accounts as filed with OSCR.
Related-party transaction: South Lanarkshire College charged by NCL
“Rent and Service Charges payable to the College by Amcol Scotland Limited totalling £185k were paid” — page 106
Per FY2025 accounts as filed with OSCR.
Reserves policy: medium-term Financial Sustainability (held: £106.8m)
“The College endeavours to produce a balanced budget and manage its cash resources and asset portfolio appropriately to arrive at medium-term Financial Sustainability”
Per FY2025 accounts as filed with OSCR.
Trading subsidiary: Amcol Scotland Limited
“The Financial Statements also require the consolidation of Amcol Scotland Limited, a provider of Nursery Education and being a 100% subsidiary of NCL.”
Per FY2025 accounts as filed with OSCR.
Governance note: Data protection incident reported to ICO
“One personal data breach was reported to the Information Commissioner’s Office (ICO) by NCL in the period up to 31st July 2024. The ICO took no regulatory action as a result of this breach.” — page 44
Per FY2025 accounts as filed with OSCR.
Independent examiner: Audit Scotland
Per FY2025 accounts as filed with OSCR.