| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD |
| 18 AUGUST 2023 TO 31 DECEMBER 2024 |
| FOR |
| THE NATIONAL FAMILY CENTRE (TRADING) |
| LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD |
| 18 AUGUST 2023 TO 31 DECEMBER 2024 |
| FOR |
| THE NATIONAL FAMILY CENTRE (TRADING) |
| LIMITED |
| THE NATIONAL FAMILY CENTRE (TRADING) |
| LIMITED (REGISTERED NUMBER: SC779502) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the period 18 August 2023 to 31 December 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| THE NATIONAL FAMILY CENTRE (TRADING) |
| LIMITED |
| COMPANY INFORMATION |
| for the period 18 August 2023 to 31 December 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Business Advisors and Accountants |
| Q Court |
| 3 Quality Street |
| Edinburgh |
| EH4 5BP |
| THE NATIONAL FAMILY CENTRE (TRADING) |
| LIMITED (REGISTERED NUMBER: SC779502) |
| BALANCE SHEET |
| 31 December 2024 |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks | 6 |
| Debtors | 7 |
| Cash and cash equivalents |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT LIABILITIES | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 9 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| THE NATIONAL FAMILY CENTRE (TRADING) |
| LIMITED (REGISTERED NUMBER: SC779502) |
| BALANCE SHEET - continued |
| 31 December 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| THE NATIONAL FAMILY CENTRE (TRADING) |
| LIMITED (REGISTERED NUMBER: SC779502) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the period 18 August 2023 to 31 December 2024 |
| 1. | STATUTORY INFORMATION |
| The National Family Centre (Trading) Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| BASIS OF PREPARING THE FINANCIAL STATEMENTS |
| TURNOVER |
| The company benefits from the donation of goods from various parties. Where it is practicable to do so and a reliable estimate of the value of the goods is available, the donated goods are measured at the fair value of the goods donated and recognised as income with a corresponding expense. During the period to 31 December 2024, donated goods with a value of £518,490 were recognised in this way. |
| Turnover also includes income received from the sale of donated goods at fair value, excluding value added tax. |
| TANGIBLE FIXED ASSETS |
| Fixtures and fittings | - |
| Computer equipment | - |
| IMPAIRMENT OF ASSETS |
| At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss. |
| If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss. |
| STOCKS |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| THE NATIONAL FAMILY CENTRE (TRADING) |
| LIMITED (REGISTERED NUMBER: SC779502) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the period 18 August 2023 to 31 December 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| FINANCIAL INSTRUMENTS |
| The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties. |
| Short-term debt instruments, including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. |
| TAXATION |
| Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
| DEFERRED TAX |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
| PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| CHANGE IN REPORTING PERIOD |
| The financial period end of the company was changed from 31 August 2024 to 31 December 2024 so as to align with the parent company. Accordingly, the current financial statements are prepared for the period 18 August 2023 to 31 December 2024. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| THE NATIONAL FAMILY CENTRE (TRADING) |
| LIMITED (REGISTERED NUMBER: SC779502) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the period 18 August 2023 to 31 December 2024 |
| 4. | INTANGIBLE FIXED ASSETS |
| Patents |
| and |
| licences |
| £ |
| COST |
| Additions |
| Disposals | ( |
) |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| Additions |
| At 31 December 2024 |
| DEPRECIATION |
| Charge for period |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| 6. | STOCKS |
| £ |
| Stocks |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| £ |
| Trade debtors |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Other creditors |
| THE NATIONAL FAMILY CENTRE (TRADING) |
| LIMITED (REGISTERED NUMBER: SC779502) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the period 18 August 2023 to 31 December 2024 |
| 9. | PROVISIONS FOR LIABILITIES |
| £ |
| Deferred tax | 681 |
| Deferred |
| tax |
| £ |
| Charge to Statement of Income and Retained Earnings during period |
| Balance at 31 December 2024 |
| 10. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| 11. | ULTIMATE CONTROLLING PARTY |
| The ultimate parent company is The National Family Centre Limited, whose registered office is at City Point 3rd Floor, 65 Haymarket Terrace, Edinburgh, Scotland, EH12 5HD. |