REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
THE NATIONAL FEDERATION OF OCCUPATIONAL |
PENSIONERS |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
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 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
RESERVES |
General reserve |
Members guarantee reserve | 9 |
Branch support reserve |
Recruitment and development |
reserve | 9 | 43,407 | 43,407 |
Income and expenditure account |
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 |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
and 31 December 2023 |
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 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
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: |
Registered office: Unit 6, Imperial Court, Laporte Way, Luton, Bedfordshire, LU4 8FE |
Nature of business: |
% |
Class of shares: | holding |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves | ( |
) | ( |
) |
Profit for the year |
6. | DEBTORS |
2023 | 2022 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
NFOP Management Limited loan | 932,537 | 932,537 |
VAT |
Prepayments and accrued income |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Corporation tax |
Taxation and social security |
Other creditors |
Accrued expenses |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
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 | 43,407 |
Transfers | (1,681 | ) | - | (1,681 | ) |
At 31 December 2023 | 78,023 |
Branch Support Reserve |
£ |
At 1 January 2023 | 51,335 |
Donations from branches | 25,967 |
Transfers to income and expenditure account | (52,562 | ) |
Branch support given | (4,740 | ) |
At 31 December 2023 | 20,000 |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
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. |