The trustees present their annual report and financial statements for the year ended 30 June 2026.
The directors confirm that the annual report and financial statements of the charity and the group comply with current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" applicable to charities preparing their accounts in accordance with Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015).
Since the company and the group qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013 is not required.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
The principal activities of the group are the provision, supervision and accreditation of journalism-related training, and the directors intend to continue to develop these activities.
The National Council for the Training of Journalists (NCTJ) is the industry charity responsible for setting and maintaining high standards in journalism training and qualifications. It works with employers, educators and journalists across the UK to ensure people entering and progressing through the profession have the skills, knowledge and professional standards needed for high-quality, trusted journalism.
NCTJ operates in a fast-changing environment. Journalism continues to face significant economic pressures, while rapid advances in artificial intelligence are changing newsroom practice and the skills journalists need. Higher education providers are also managing financial and recruitment challenges, and there is continuing concern about attracting talented young people into journalism and ensuring the profession is accessible to people from all backgrounds.
Against this backdrop, NCTJ’s business direction is focused on maintaining the quality and credibility of its qualifications and accreditation, widening access and opportunity, developing professional learning for journalists throughout their careers and strengthening its influence on the issues shaping the future of journalism.
The charity continues to invest in its people, systems and partnerships and to develop sustainable sources of income to support its charitable objectives and maintain long-term financial resilience.
Mission
To be recognised as the industry charity for attracting, qualifying and developing outstanding journalists from all backgrounds who work to the highest professional standards.
Purpose
To provide a world-class education and training system that develops current and future journalists from all walks of life for the demands of a fast-changing media industry.
Strategies for achieving objectives
In setting objectives, the directors confirm that they have paid due attention to the Charity Commission guidance on public benefit and section 19 of the Charities Act 2011.
Based on its mission and purpose, NCTJ’s objectives during 2025-26 were to:
Ensure high standards in journalism qualifications: develop and maintain professional qualifications that uphold the highest standards of journalism required in the industry.
Promote equality, diversity and inclusion: take proactive steps to create a more diverse and inclusive journalism profession by providing opportunities for individuals from all backgrounds.
Accredit and recognise quality education providers: assess and accredit journalism courses to ensure they meet industry standards and provide value for institutions that demonstrate excellence and innovation in training.
Support lifelong learning and career development: provide opportunities for journalists to continue their professional development throughout their careers.
Enhance public trust and promote the importance of journalism: ensure training and qualifications emphasise ethical reporting and responsible journalism to maintain public confidence in the profession.
Deliver relevant services and support to stakeholders: offer resources, products, and services that support the evolving needs of journalists, employers, and media organisations.
These objectives were pursued through close engagement with employers and education providers, investment in qualifications and accreditation, the development of the Journalism Skills Academy, careers and outreach activity, the Journalism Diversity Fund, research and thought leadership, and increased public affairs and industry engagement. Particular attention during the year was given to the implications of artificial intelligence for journalism skills and standards, growing accredited provision, strengthening professional development and attracting a new generation of journalists.
Values
The values of NCTJ define and guide all aspects of the charity’s work. It is dedicated to high-quality journalism training, fairness, accessibility and maintaining the highest industry standards. It strives for sustainable growth, effective leadership and strong governance, ensuring resources are used responsibly to support aspiring and working journalists.
Equality, diversity and inclusion remain at the heart of its work, reflecting NCTJ’s belief that a diverse media industry leads to better journalism. The charity is proud of its respected and influential role within the industry, upholding best practice while adapting to change. Above all, NCTJ aims to be open, receptive and responsive, ensuring journalism training continues to meet the changing needs of the profession.
Priorities
NCTJ’s priorities for 2025-27 support its long-term vision and strategic objectives, ensuring the charity continues to uphold high standards in journalism training while adapting to significant changes in the industry.
During 2025-26, particular emphasis was placed on four key priorities:
AI in journalism training, qualifications and integration – ensuring journalists and educators understand the responsible use of AI, informed by industry research and an expert taskforce, and updating qualifications, training and assessment accordingly.
Developing the Journalism Skills Academy – strengthening the JSA as a central resource for career-long professional development, while developing products, partnerships and commercial opportunities.
Growing accreditation – increasing the number and range of accredited courses and expanding access to industry-standard journalism training while maintaining quality.
Strengthening marketing and communications – increasing the NCTJ’s profile and influence through careers promotion, public affairs, digital campaigns, partnerships and industry engagement.
These priorities were supported by six further areas of strategic focus: diversifying and growing income; championing equality, diversity and inclusion; strengthening careers support and industry engagement; investing in NCTJ staff and organisational capacity; enhancing qualifications and apprenticeships; and supporting the sustainability of local and regional journalism. Research and evidence continued to underpin the NCTJ’s work and inform its qualifications, training and strategic development.
Good progress was made during the year, including new accredited provision, significant developments in AI research and training, the launch of a major campaign to attract young people into journalism, strong support through the Journalism Diversity Fund and the successful outcome of work to secure funding for the Level 6 journalist apprenticeship. The NCTJ continued to invest in its capacity, partnerships and influence to support the future development of journalism training and professional standards.
Throughout the year, the charity concentrated its efforts on the following areas to achieve its objectives and strengthen its impact:
Artificial intelligence: leading on AI in journalism training, qualifications and professional standards
Artificial intelligence remained one of the NCTJ’s most significant strategic priorities during 2025–26. The charity continued to integrate AI into journalism training and qualifications while maintaining a strong focus on responsible use, verification, transparency and assessment integrity.
NCTJ commissioned independent qualitative research by Mark Spilsbury into the use of AI in newsrooms, involving 14 media organisations, and established an industry taskforce bringing together employers, educators and specialists. The research found that the priority for journalists is not simply familiarity with AI tools but the broader AI literacy needed to use them responsibly and critically.
In June, NCTJ brought together editors, journalists and educators for an AI symposium with the University of Sheffield. Findings from the research, taskforce and symposium are informing the development of qualifications, accreditation and continuous professional development. Work also began to update AI-related content within the Diploma in Journalism.
Safeguarding assessment integrity has remained essential as AI develops. NCTJ strengthened controls for remote examinations through the introduction of the Proctorio companion app and continued to review emerging risks and regulatory expectations. Candidates are permitted to use AI tools in limited circumstances, including support for graphics and video editing, subject to clear safeguards and disclosure requirements.
Accreditation: growing high-quality journalism training
Growing accreditation was a major area of investment during the year, against a challenging backdrop of financial and recruitment pressures across independent, higher and further education.
The investment produced important results. Birmingham City University gained accreditation for its MA Journalism course, renewing the NCTJ’s presence in the West Midlands, while KMTV’s Year in Journalism brought accredited NCTJ training back to Kent. A much stronger pipeline of potential providers was also established.
The accreditation growth project identified non-accredited providers and provided a much clearer understanding of the market, the barriers to accreditation and the factors that encourage providers to seek NCTJ endorsement. This work is informing future qualification and accreditation development while ensuring the NCTJ continues to maintain rigorous industry standards.
Journalism Skills Academy: developing professional learning and industry partnerships
The Journalism Skills Academy continued to provide training and professional development for journalists and employers, although the commercial training market remained challenging as media organisations faced financial pressures and constrained training budgets.
The academy maintained and developed important industry partnerships and towards the end of the year, the JSA secured a substantial pipeline of new training business for the following year.
NCTJ continued to invest in its training products, including updating e-learning courses and distance-learning materials and improving the accessibility and interactivity of online learning. A detailed review of JSA performance and the changing training market was also undertaken to inform future product development, marketing and investment.
Marketing, careers and communications: attracting the next generation and increasing the NCTJ’s reach
A major focus during the year was promoting journalism as an attractive and accessible career and strengthening the pipeline of talented people choosing NCTJ-accredited courses and entering the profession.
In March, NCTJ launched Where your story goes, one of its largest audience-facing campaigns. Developed with youth marketing agency Livity, the campaign targeted 14–18-year-olds and showcased the breadth of careers and opportunities available in modern journalism. A redesigned journalism careers guide, sponsored by the Financial Times, was launched alongside the campaign.
NCTJ also continued its Into Journalism outreach programme and expanded its ambassador network, with journalists supporting careers events, schools and other outreach activity. The jobs board remained the most visited part of the NCTJ website.
Digital engagement continued to grow, particularly through LinkedIn, Instagram and TikTok. By June, the NCTJ had more than 30,600 social media followers, an increase of almost nine per cent year-on-year.
Events continued to provide important opportunities to celebrate achievement and bring together employers, educators, journalists and other stakeholders. The 2026 Awards for Excellence at Brighton Dome attracted a record number of entries and attendees. The new Andrew Norfolk Investigative Journalism Award, developed in partnership with The Times in memory of the respected investigative journalist and NCTJ alumnus, offered a gold-standard diploma graduate a fully funded opportunity with The Times investigations team.
Public affairs and industry influence: championing journalism training and professional standards
The NCTJ significantly increased its public affairs activity during the year, strengthening relationships with government, parliamentarians and industry stakeholders and ensuring journalism training and workforce development were represented in policy discussions.
The charity campaigned against the government’s decision to remove high-cost subject funding for journalism education through its Save Quality Journalism Education campaign. Although the decision has not been reversed, the campaign secured widespread sector and political support and provided a platform for wider engagement on journalism skills, apprenticeships, careers and the talent pipeline.
NCTJ engaged closely with the development of the government’s Local Media Strategy, which subsequently recognised the contribution of both the NCTJ and the Journalism Diversity Fund. It also contributed to the BBC Charter renewal process through the public consultation and the Culture, Media and Sport Committee inquiry, advocating for high-quality journalism training pathways and the future of community journalism.
An important outcome of sustained engagement with government and employers was confirmation of a £14,000 funding band for the revised Level 6 journalist apprenticeship, providing greater certainty for employers and training providers and supporting the continued viability of high-quality journalism apprenticeships.
Sustainability of journalism: supporting trusted local and community journalism
NCTJ continued to support the legacy of the Community News Project through the community reporters recruited during the previous year and funded from the charity’s designated Community Reporting Fund. The reporters continued working with publishers in communities across the UK, supporting local journalism, newsroom diversity and entry routes into the profession.
Awarding organisation: maintaining rigorous and relevant professional qualifications
NCTJ’s regulated awarding organisation performed strongly during the year despite wider pressures across journalism and education. Student registrations remained stable, while Diploma in Journalism examination activity increased and the National Qualification in Journalism continued to provide an important professional benchmark.
Operational compliance and regulation remained strong. Digital systems continued to support efficient examination scheduling and results management, while additional safeguards were introduced to protect the integrity of remote assessments.
There was significant progress on journalism apprenticeships. Following lengthy discussions with government, the revised Level 6 journalist apprenticeship standard was approved and published by Skills England. The NQJ remains at the centre of the new assessment model, providing an important endorsement of the qualification’s rigour and credibility. Work also continued to update the NQJ and review the Diploma in Journalism to ensure both remain relevant to changing newsroom practice and employer needs.
The first group of senior journalists also completed the NCTJ’s Level 7 Leadership and Management qualification during the year, extending the charity’s qualification offer into senior professional development.
Safety and resilience: supporting journalists in challenging working environments
NCTJ continued its work to improve safety and resilience through its industry advisory panel. Accredited course centres have increasingly embedded resilience into teaching through dedicated sessions, guest speakers and the NCTJ’s free e-learning resources.
During the year, the panel focused particularly on abusive complaints, trauma associated with court reporting, digital safety and the need to ensure support is available to journalists working in smaller as well as larger news organisations. The work also drew on discussions at the Journalism and the Courts symposium, which highlighted the importance of resilience training and support for journalists regularly reporting traumatic cases.
Equality, diversity and inclusion: widening access and opportunity
Equality, diversity and inclusion remained central to NCTJ’s charitable purpose. The Journalism Diversity Fund celebrated its 20th anniversary during 2025–26, marking two decades of helping talented people who would otherwise struggle financially to undertake professional journalism training.
NCTJ published its latest Diversity in Journalism report at its annual inclusion conference, hosted by Bloomberg in November. The research highlighted continuing socio-economic disparities within journalism and reinforced the importance of widening access, bursary support and action to protect the talent pipeline.
Targeted support continued through specialist bursaries and partnerships, including the Thomas Read bursary, which celebrated its tenth anniversary during the year. NCTJ also reached its target of 25 per cent female participation on NCTJ sports journalism courses, representing important progress in an area where women are under-represented.
Research and publications: providing evidence and authoritative resources
Research continued to underpin NCTJ’s work on qualifications, professional development, diversity and public affairs.
The charity published new qualitative research into the use of artificial intelligence in newsrooms, which informed NCTJ’s AI taskforce and symposium and will guide future qualification, accreditation and CPD development.
NCTJ also published an updated Diversity in Journalism report, providing further evidence about the composition of the profession and the barriers to entry and progression.
Work was completed during the year on the 28th edition of McNae’s Essential Law for Journalists, maintaining NCTJ’s long-standing commitment to authoritative professional resources for journalists and journalism students.
Operational excellence: strengthening capacity, systems and resilience
NCTJ continued to strengthen its organisational infrastructure during the year. Cyber Essentials accreditation was achieved, digital systems supporting the awarding organisation were further developed and investment was made in improving online assessment security.
There were a number of staffing changes during the year and the organisation reviewed its structure to ensure resources were focused on its strategic priorities. A new head of professional development will join NCTJ in September 2026. The operating structure was also revised to provide greater flexibility and strengthen accountability while reducing costs compared with the previous budget.
Despite a challenging external environment for media organisations and education providers, NCTJ ended the year in a stronger strategic position, with accreditation growth gathering momentum, increased profile and influence, new professional development opportunities and significant work underway to ensure its qualifications and training remain relevant to the changing needs of journalism.
Performance
The results for the year are summarised as follows:
Total income to the charity was £1,938,472 (2025: £1,990,185) and total expenditure was £2,274,344 (2025: £2,131,786).
The net expense to the group, before investment gains, amounted to £335,872 (2025: £141,601). Together with net realised and unrealised gains on investments of £71,520 (2025: losses of £15,556), this produced a total decrease in funds of £264,352 (2025: £157,157). The decrease in funds largely reflected the planned use of restricted and designated reserves to support charitable activity and strategic investment during the year.
1,393 (2025: 1,406) journalism students enrolled on NCTJ-accredited courses during the year.
At the end of June 2026, there were 32 (2025: 30) centres approved to run accredited journalism courses across the UK. Income from accreditation increased to £39,085 (2025: £33,975).
Income generated from the Diploma in Journalism increased to £566,339 (2025: £545,798).
9 (2025: 19) trainee journalists were registered for the NQJ during the year (this figure excludes apprentice registrations for the NQJ). Income from registrations was £916 (2025: £1,449).
Income from the National Qualification in Journalism increased to £65,036 (2025: £60,727), and 117 (2025: 112) candidates achieved the qualification.
147 (2025: 166) apprentices were registered during the year. Income from apprenticeship registrations and assessments increased to £255,357 (2025: £206,312).
104 Certificate in Foundation Journalism candidates submitted 601 unit assessments during the year (2025: 100 candidates submitted 574 unit assessments).
Training delivered through the Journalism Skills Academy generated income of £166,955 (2025: £254,971). 21 corporate courses were delivered during the year (2025: 34), alongside 31 virtual masterclasses (2025: 31) and 3 virtual ‘lunch and learn’ training sessions (2025: 15). The JSA’s 28 CPD e-learning courses attracted 233 sales (2025: 193).
Sales of distance-learning courses, books and digital materials were £135,652 (2025: £180,907).
There were 563 eligible entries in the Awards for Excellence (2025: 495).
Income from strategic partners was £57,300 (2025: £53,000), while sponsorship income was £49,391 (2025: £82,743) and revenue from events was £12,793 (2025: £16,215).
Donations to the Journalism Diversity Fund were £462,206 (2025: £398,642) with expenditure of £599,048 (2025: £414,127) giving a net decrease to the fund of £123,390 (2025: £1,623) after the allocation of investment income of £13,452 (2025: £17,108). During the year, 65 bursaries were awarded to students studying on NCTJ-accredited courses (2025: 42).
During 2024-25, a new designated fund, Community Reporting Fund, was agreed by the trustees, which is being spent on a new phase of the Community News Project. £450,000 was transferred into this fund, and the balance on the fund at 30 June 2025 was £55,374, once commitments for the reporters’ salaries, and other expenditure was incurred. During 2025-26, further expenditure was incurred of £19,536, and investment income of £34,328 was applied, leaving a balance of £70,166 on the fund at 30 June 2026.
At the end of June 2026, six community news reporters remained in their roles, all of whom met one or more of the project’s diversity criteria. A total of 287 reporters have been recruited since the Community News Project began.
Going concern
The directors are satisfied that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
Investment policy and performance
Under the memorandum and articles of association, NCTJ has the power to make investments in such securities, property and other investments as the directors see fit.
The portfolio is invested with the advice of Rathbones Investment Management (previously held by Investec Wealth and Investment Ltd, which was acquired by Rathbones Investment Management during the prior year) and the directors are satisfied with its overall performance in the current market conditions.
Funding
NCTJ has adopted a diversified approach to income generation. The principal funding sources are: donations from strategic partners; income from registrations; assessment fees; sales of publications and training materials; events and training courses; accreditation fees; donations to the Journalism Diversity Fund; sponsorship and donations; and investment income.
The charity’s strategic partners help the charity to innovate, build capacity and ensure it has the resources and support to make a difference in the areas where help is needed most. NCTJ’s team is working to increase the number and value of stakeholders involved in the charity.
The directors have given due consideration to the fundraising regulations and their duties and responsibilities as trustees. NCTJ did not fundraise from the public and did not engage the services of third-party agencies.
Reserves policy
It is the aim of the directors to generate surpluses sufficient to maintain a level of resources which, in the opinion of the board, is commensurate with the identified needs of NCTJ. Directors will continue to monitor the future allocation of investments in line with the charity’s reserves policy and development strategy.
The policy is to maintain a minimum level of funds equal to four months of overhead expenditure and six months’ salary costs. This currently equates to c£672,000 and would allow time for a re-organisation/restructure in the event of a downturn in income, protect ongoing strategic work and allow the charity to fulfil its objectives and commitments.
At their meeting in June 2024, the directors reviewed the reserves policy and the options for the treatment of the expected increase in free reserves at the end of the CNP. The directors agreed to explore the further designation of reserves for charitable purposes, notably achievement of the charity’s three top priorities and to stimulate a long-term legacy for the CNP.
At 30 June 2026, the group had funds totaling £2,740,374 (2025: £3,004,726) of which unrestricted funds amounted to £2,330,185 (2025: £2,471,147) and restricted funds of £410,189 (2025: £533,579).
An analysis and purposes of the funds are shown in notes 26 to 29 of the accounts.
Excluding restricted and designated funds, the charity currently holds free reserves of £784,084 (2025: £1,883,052). After allowing for funds held by the trading subsidiary of £20,157 (2025: £27,839) there is a balance of £763,927 (2025: £1,855,214), which is slightly in excess of the minimum requirement set in the policy. A proportion of this fund, £334,470, was accumulated in 2010 through the extraordinary repayment following the closure of a final salary pension scheme. The fund was further boosted by the exceptional growth in its investment portfolio during previous financial years. The charity has undertaken increased levels of research and development and has invested in enhancing its products and services to meet changing skills needs. It is well placed to continue to meet the changing requirements of both future journalists and industry skills.
The NCTJ will continue to build on its position as the industry charity for journalism training and qualifications, maintaining high professional standards while adapting to the changing needs of journalists, employers and education providers.
During 2026–27, priorities will include continuing to develop qualifications and accreditation, strengthening professional development for working journalists and developing the NCTJ’s role as an authoritative voice on journalism skills and standards. Artificial intelligence will remain an important focus as the charity ensures its qualifications, training and professional guidance keep pace with changes in newsroom practice.
NCTJ will continue to promote journalism as a rewarding career, widen access and opportunity, and support clear pathways into and through the profession. The Journalism Diversity Fund, careers and outreach activity and partnerships with employers and education providers will remain central to this work.
The charity will also continue to strengthen its relationships with government, industry and other stakeholders, using its research, expertise and convening role to contribute to debate about the future of journalism and the skills needed to sustain high-quality, trusted news.
During the year ahead, the trustees will complete a review of the NCTJ’s long-term strategy to 2031. This is considering how the charity can build on its established strengths in qualifications, accreditation and industry partnerships while extending its support for journalists throughout their careers and strengthening its contribution to the future of the profession.
NCTJ will continue to manage its resources carefully, invest where this supports its charitable objectives and develop sustainable sources of income to support its long-term work.
Constitution
NCTJ is registered as a charitable company limited by guarantee (registered charity number 1026685) and was incorporated by trust deed on 5 June 1992.
Method of appointment or election of directors
New directors are recommended and appointed by the directors. Nominations are vetted carefully, and considerations include skills and experience, representation of stakeholders, eligibility and conflicts of interest. Directors delegate this work to the reward and governance committee.
The chair and chief executive are responsible for the induction and training of new directors and formal training is available covering the role of a trustee, governance, finance, chairing committees and board leadership.
The number of directors is not subject to any maximum but is not less than three. A director's term of office is normally for three years and can be extended for a further three years and a period of up to nine years. Thereafter the term of office of individual directors will be reviewed and may be extended further by the directors if it is in the interests of the charity.
Key management personnel and remuneration policy
During the year, NCTJ’s senior leadership team comprised the chief executive and the heads of finance and operations, awarding, qualifications, business development (for six months), and marketing and communications. Total costs for the year amounted to £465,994 (2025: £517,653).
The charity continued to refine its management structure during the year to ensure it has the leadership, management capacity and expertise required to deliver its objectives and priorities. As part of this, a new head of professional development was appointed and will join the NCTJ in September 2026.
NCTJ recognises that motivated staff are vital to the success of the organisation. The charity is committed to a policy that rewards and recognises staff both formally and informally, and in financial and non-financial ways.
Arrangements are in place to recognise company, team and individual achievements, as well as long-service, and to celebrate success.
NCTJ wants its team members to feel that, in return for high performance and meeting objectives, it is a great place to work and that their contributions make a difference and are appreciated.
NCTJ’s approach to reward and recognition is based on the general principles of:
Fairness, integrity, value and equality of opportunity
Support for job and career development
Training, mentoring and coaching
A team culture of openness, trust and support combined with individual responsibility and measurable performance
Leadership and management effectiveness
Effective communication
All members of the team have agreed job descriptions, SMART objectives and regular reviews. There are shared and understood company values, objectives and priorities.
The risk analysis is undertaken in core areas under the following categories:
Strategic – these concern the long-term strategic objectives of NCTJ.
Operational – these concern the day-to-day issues that may occur while delivering services and products.
Financial – these concern the effective management and control of NCTJ’s finances.
Knowledge – these concern the effective management and control of knowledge resources, communication and intellectual property.
Compliance – these concern issues such as health and safety, data protection, regulatory issues or environmental issues.
The key risks identified and monitored by the organisation during the year relate to:
Sufficient skilled staff and management to deliver objectives – this has a potential impact on productivity and the ability to deliver services. Actions taken to mitigate this have been the use of consultants and making fixed-term appointments. The charity is building in more flexibility, monitoring turnover and absence, anticipating areas of growth and decline, and training, developing and multi-skilling staff. A recruitment and retention plan is in place, and a succession plan was created during the year. An HR software support system to manage HR tasks and people efficiently remains in place.
Economic uncertainty – the economic and structural challenges to the media industry; the increasing uncertainties in the education and training marketplace; and rising inflation and increasing costs of living. Actions taken to mitigate the impact of the economic uncertainty are overseen by the finance and audit committee which monitors any notable increases in costs and expenditure, and threats to income. The committee closely monitors cash flow, particularly in light of the continuance of the Community Reporting Fund funded through designated reserves.
Adherence to operational procedures and meeting quality assurance standards – actions taken to mitigate these involve staff training and communication of policies and procedures through meetings and communications with key stakeholders and the use of external consultants.
IT potentially impacting on productivity and delivery of services – strong contingency measures are in place to minimise any impact, with full data back-up in multiple offsite locations. Mitigations have included a strong contract with an effective and responsive IT support agency, cybersecurity training for staff, and becoming accredited with the UK government-backed Cyber Essentials scheme.
Changes in government policy – funding may be impacted by changes in government directives. To mitigate, we have strengthened our public affairs resource, we attend regular meetings with stakeholders, communicate through forums and hold dialogue with regulators.
Growing impact of artificial intelligence within the industry, including malicious use of AI in exams, as well as for disinformation, impersonation, replication of similar materials, fraud and scams. Actions taken to mitigate include adherence to regulatory requirements regarding AI use in assessment development and delivery; use of IT software and malpractice policy for detection and prevention of AI use in assessments. We continue to monitor government and National Cyber Security Centre guidance and provide clear communication to staff on AI developments.
The directors are satisfied that appropriate systems and procedures are in place to mitigate risks.
In accordance with the company's articles, a resolution proposing that Azets be reappointed as auditor of the company will be put at a General Meeting.
The trustees' report was approved by the board of trustees.
The trustees, who are also the directors of National Council for the Training of Journalists for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Opinion
We have audited the financial statements of National Council for the Training of Journalists (the ‘charity’) and it's subsidiary for the year ended 30 June 2026 which comprise the Group Statement of Financial Activities, the Group and Parent Charitable Company Balance Sheets, the Group and Parent Charitable Company Cash Flow Statements and the notes to the financial statements, 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:
Basis for opinion
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 Group and Parent Charitable Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’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.
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’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.
Other information
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 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.
We have nothing to report in this regard.
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
the information given in the financial statements is inconsistent in any material respect with the trustees' report; or
sufficient accounting records have not been kept; or
the financial statements are not in agreement with the accounting records; or
we have not received all the information and explanations we require for our audit.
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.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Extent to which the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.
We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we 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. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.
In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:
Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;
Reviewing minutes of meetings of those charged with governance;
Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection;
Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. 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.
Use of our report
This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees 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 other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Azets is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
National Council for the Training of Journalists is a private company limited by guarantee incorporated in England and Wales. The registered office is The New Granary, Station Road, Newport, Saffron Walden, Essex, CB11 3PL, United Kingdom.
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to certain financial instruments at fair value. The principal accounting policies adopted are set out below.
The consolidated statement of financial activities and consolidated balance sheet consolidate the financial statements of the charity and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.
The charity has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own statement of financial activities in these financial statements.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
The turnover in the trading subsidiary comprises revenue recognised in respect of training courses and examination fees. Income is recognised when the exam or course takes place.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upoon notification of the interest paid or payable by the bank.
Income tax recoverable in relation to inverstment 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.
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 are allocated on the portion of the asset’s use.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Stocks are stated at the lower of cost and net realisable value after making duee allowane for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Included within donations are gifts in kind amounting to £52,095 (2025: £67,990). Of this amount, £32,575 (2025: £43,990) relates to conference and events, £6,445 (2025: £6,000) relates to accreditations, £1,800 (2025: £6,500) relates to qualifications, and £2,000 (2025: £2,500) relates to board meetings. The remaining £9,275 (2025: £9,000) relates to interviews and meetings.
Unrestricted funds
Unrestricted funds
Strategic partnerships
Income of trading subsidiary
Raising funds
Costs of trading subsidiary
Direct costs include gifts in kind amounting to £52,095 (2025: £67,990). Of this amount, £32,575 (2025: £43,990) relates to conference and events, £6,445 (2025: £6,000) relates to accreditations, £1,800 (2025: £6,500) relates to qualifications, and £2,000 (2025: £2,500) relates to board meetings. The remaining £9,275 (2025: £9,000) relates to interviews and meetings.
None of the trustees (or any persons connected with them) received any remuneration during the year, but one of them was reimbursed a total of £302 travelling expenses (2025: one trustee was reimbursed £47).
The average monthly number of employees during the year was:
Included in wages and salaries above are statutory redundancy costs of £nil (2025: £1,400 in respect of two members of staff).
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
Included within freehold land and buildings is freehold land at a cost of £80,000 (2025: £80,000) which is not depreciated.
All investments are carried at their fair value. Investment in equities and fixed interest securities are all traded in quoted public markets, primarily in the London Stock Exchange. Holdings in common investment funds, unit trusts and open-ended investment companies are at the bid price. The basis of fair value for quoted investments is equivalent to the market value, using the bid price. Asset sales and purchases are recognised at the date of trade at cost (that is their transaction value).
The charity is operating an investment policy that provides for a degree of diversification of holdings with different common investment funds. The charity holds 97% on Global Equities and the remaining balance in other funds.
The charity does not make use of derivatives and similar complex financial instruments as it takes the view that investments are held for their longer term growth and annual income.
The charity has no material investment holdings in markets subject to exchange controls or trading restrictions.
Deferred income is included in the financial statements as follows:
Income is received in advance of NQJ and Diploma in Journalism (Prelims) exams and apprenticeship end point assessments. These amounts are deferred to be recognised when the course or exam takes place. Income is also received in advance for training and sponsored events, and released from deferred income when the training course or event takes place.
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
Journalism Diversity Fund - The fund is used to foster greater diversity in the newsroom by promoting careers in journalism and awarding bursaries to those from minority ethnic and social communities without the financial means to attend NCTJ pre-entry courses.
Community News Project - The fund is designed to help diversity in local newsrooms across the United Kingdom and to support local news organisations by identifying and placing community journalists including a focus on developing a training scheme / qualification.
TS Murray award - The TS Murray award is presented for the best National Certificate Exam (NCE) result achieved by a candidate employed by a Scottish newspaper.
Transfers between funds
The transfer from the Journalism Diversity Fund represents the administrative cost of adminstering that fund.
The transfer from the Community News Project in the prior year was due to the project finishing during that year, with final payments being made in December 2024. Funds were released with agreement from the funder.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
Property fund - The fund represents the sums expended on the charity's freehold property less accumulated depreciation.
Community News Project - The fund represents the funds permitted to be used for third party administration, including training and events. The project finished in December 2024 and the remaining amount was released back to unrestricted funds.
Community Reporters’ Fund - This fund is to fund six community news reporters over two years.
Accreditation fund - This fund is to support a marketing programme to increase accreditation growth.
Marketing fund - This fund is to fund a marketing executive post for two years.
Investment fund - This fund represents amounts held in the investment portfolio at market value at the year end.
Gains and losses
Gains and losses
Gains and losses
Gains and losses
At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
The key management personnel of the charity comprise the Directors, Chief Executive Officer, Head of Finance and Operations, Head of Qualifications, Head of Marketing & Communications, Head of Awarding and Head of Business Development.
Total employment benefits including employer pension contributions of key management personnel were:
During the year, the charity charged its trading subsidiary a management fee of £40,152 (2025: £39,156) and rent of the premises of £24,000 (2025: £24,000).
The trading subsidary donated by way of a Deed of Covenant £115,564 (2025: £177,750) to the charity. At 30 June 2026, the trading subsidary owed the charity £129,643 (2025: £168,257).
The charity had no material debt during the year.