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REGISTERED NUMBER: 06996004 (England and Wales)



















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

THE NATIONAL FEDERATION OF OCCUPATIONAL
PENSIONERS

THE NATIONAL FEDERATION OF OCCUPATIONAL
PENSIONERS (REGISTERED NUMBER: 06996004)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


THE NATIONAL FEDERATION OF OCCUPATIONAL
PENSIONERS

COMPANY INFORMATION
for the Year Ended 31 DECEMBER 2023







DIRECTORS: Mr P F Hands
Mr S J Turner
Mr A K Agrawal
Mr J F Hearn
Mr V Jeffries
Miss S Kassamally
Mrs D J Lee
Mr J D Nelson





SECRETARY: Mr E M Donaghy





REGISTERED OFFICE: Unit 6, Imperial Court
Laporte Way
Luton
Bedfordshire
LU4 8FE





REGISTERED NUMBER: 06996004 (England and Wales)





AUDITORS: FKCA Limited
Statutory Auditor
260 - 270 Butterfield
Great Marlings
Luton
Bedfordshire
LU2 8DL

THE NATIONAL FEDERATION OF OCCUPATIONAL
PENSIONERS (REGISTERED NUMBER: 06996004)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 21 21
21 21

CURRENT ASSETS
Debtors 6 994,876 1,001,423
Cash at bank 371,030 328,906
1,365,906 1,330,329
CREDITORS
Amounts falling due within one year 7 50,802 56,628
NET CURRENT ASSETS 1,315,104 1,273,701
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,315,125

1,273,722

RESERVES
General reserve 998,602 998,602
Members guarantee reserve 9 34,616 36,297
Branch support reserve 20,000 51,335
Recruitment and development
reserve 9 43,407 43,407
Income and expenditure account 218,500 144,081
1,315,125 1,273,722

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 February 2024 and were signed on its behalf by:





Mr P F Hands - Director


THE NATIONAL FEDERATION OF OCCUPATIONAL
PENSIONERS (REGISTERED NUMBER: 06996004)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 DECEMBER 2023

1. STATUTORY INFORMATION

The National Federation of Occupational Pensioners is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about The National Federation of Occupational Pensioners as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Subscription income is recognised as received and represents members subscriptions and subscriptions collected for branches.

Rental, magazine income and investment income is recognised on an accruals basis.

Donations are recognised on a receivable basis where there is certainty of receipt and the amount can
be reliably measured.

All sources of income are stated at net of VAT and any sales tax where applicable.

Tangible fixed assets
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment - Straight line over 1 to 3 years

Fixed assets costing more than £2,000 are capitalised and included at historical cost in the financial statements.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

THE NATIONAL FEDERATION OF OCCUPATIONAL
PENSIONERS (REGISTERED NUMBER: 06996004)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the company to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be reliably measured.

Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2023
and 31 December 2023 80,951
DEPRECIATION
At 1 January 2023
and 31 December 2023 80,951
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 21
NET BOOK VALUE
At 31 December 2023 21
At 31 December 2022 21

THE NATIONAL FEDERATION OF OCCUPATIONAL
PENSIONERS (REGISTERED NUMBER: 06996004)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2023

5. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

NFOP Management Limited
Registered office: Unit 6, Imperial Court, Laporte Way, Luton, Bedfordshire, LU4 8FE
Nature of business: Rental company
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves (200,911 ) (201,161 )
Profit for the year 309 278

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 356 10,476
Other debtors 500 500
NFOP Management Limited loan 932,537 932,537
VAT 1,000 -
Prepayments and accrued income 60,483 38,252
994,876 981,765

Amounts falling due after more than one year:
Other debtors - 19,658

Aggregate amounts 994,876 1,001,423

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 42,719 36,085
Corporation tax 1,232 571
Taxation and social security - 5,915
Other creditors 6,651 13,707
Accrued expenses 200 350
50,802 56,628

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 4,261 6,910
Between one and five years 902 654
5,163 7,564

THE NATIONAL FEDERATION OF OCCUPATIONAL
PENSIONERS (REGISTERED NUMBER: 06996004)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2023

9. RESERVES
Recruitment
Members and
guarantee development
reserve reserve Totals
£    £    £   
At 1 January 2023 36,297 43,407 79,704
Transfers (1,681 ) - (1,681 )

At 31 December 2023 34,616 43,407 78,023

Branch Support Reserve

£   

At 1 January 202351,335
Donations from branches25,967
Transfers to income and expenditure account(52,562)
Branch support given(4,740)
At 31 December 202320,000

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Miss Tara Aldwin ACA (Senior Statutory Auditor)
for and on behalf of FKCA Limited

11. RELATED PARTY DISCLOSURES

The National Federation of Occupational Pensioners Welfare Fund (connected charity)
During the year a donation of services was made to a connected charity, The National Federation of Occupational Pensioners Welfare Fund (charity number 1053576) totalling £5,000 (2022: £5,000).

NFOP Management Limited (Subsidiary Company)
During the year the subsidiary company charged rent and service charges to the company of £45,000 (2022: £45,500). At the year end the company owed the subsidiary company £6,000 (2022: £4,200) which is included in trade creditors. At the year end the subsidiary company also owed the company £932,537 (2022: £932,537). This is an interest free loan with no fixed date of repayment and is repayable on demand.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the Executive Committee. All elected members of the Executive Committee are Directors.