N.F.S.P. Trading Limited 03154458 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is commercial trading Digita Accounts Production Advanced 6.30.9574.0 true true true 03154458 2023-10-01 2024-09-30 03154458 2024-09-30 03154458 core:RetainedEarningsAccumulatedLosses 2024-09-30 03154458 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 03154458 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-09-30 03154458 core:ParentEntities 2024-09-30 03154458 bus:SmallEntities 2023-10-01 2024-09-30 03154458 bus:Audited 2023-10-01 2024-09-30 03154458 bus:FilletedAccounts 2023-10-01 2024-09-30 03154458 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 03154458 bus:RegisteredOffice 2023-10-01 2024-09-30 03154458 bus:Director1 2023-10-01 2024-09-30 03154458 bus:Director6 2023-10-01 2024-09-30 03154458 bus:CompanyLimitedByGuarantee 2023-10-01 2024-09-30 03154458 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-10-01 2024-09-30 03154458 core:IntangibleAssetsOtherThanGoodwill 2023-10-01 2024-09-30 03154458 core:ParentEntities 2023-10-01 2024-09-30 03154458 core:ParentEntities core:RenderingOrReceivingServices 2023-10-01 2024-09-30 03154458 1 2023-10-01 2024-09-30 03154458 countries:England 2023-10-01 2024-09-30 03154458 2023-09-30 03154458 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-09-30 03154458 core:ParentEntities 2023-09-30 03154458 2022-10-01 2023-09-30 03154458 2023-09-30 03154458 core:RetainedEarningsAccumulatedLosses core:PreviouslyStatedAmount 2023-09-30 03154458 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 03154458 core:CurrentFinancialInstruments core:WithinOneYear core:PreviouslyStatedAmount 2023-09-30 03154458 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-09-30 03154458 core:ParentEntities 2023-09-30 03154458 core:PreviouslyStatedAmount 2023-09-30 03154458 core:ParentEntities 2022-10-01 2023-09-30 03154458 core:ParentEntities core:RenderingOrReceivingServices 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure

Registration number: 03154458

N.F.S.P. Trading Limited

Annual Report and Financial Statements

for the Year Ended 30 September 2024

 

N.F.S.P. Trading Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 9

 

N.F.S.P. Trading Limited

Company Information

Directors

Mr Calum Brian Greenhow

Mr Joseph David Timothy Boothman

Registered office

Evelyn House
22 Windlesham Gardens
Shoreham-By-Sea
West Sussex
BN43 5AZ

Auditors

Lucraft Hodgson & Dawes LLP
2/4 Ash Lane
Rustington
Littlehampton
West Sussex
BN16 3BZ

 

N.F.S.P. Trading Limited

(Registration number: 03154458)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

1,927

2,887

Current assets

 

Debtors

6

60,061

42,581

Cash at bank and in hand

 

252,211

282,066

 

312,272

324,647

Creditors: Amounts falling due within one year

7

(86,865)

(138,395)

Net current assets

 

225,407

186,252

Net assets

 

227,334

189,139

Capital and reserves

 

Profit and loss account

227,334

189,139

Members' funds

 

227,334

189,139

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 April 2025 and signed on its behalf by:
 

.........................................
Mr Calum Brian Greenhow
Director

 

N.F.S.P. Trading Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a company limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
Evelyn House
22 Windlesham Gardens
Shoreham-By-Sea
West Sussex
BN43 5AZ
United Kingdom

These financial statements were authorised for issue by the Board on 30 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in Sterling, which is also the company's functional currency. The financial statements are rounded to the nearest £1.

Group accounts not prepared

The financial statements present information about N.F.S.P. Trading Ltd as an individual company and do not contain consolidated information about the group. Group accounts have not been prepared by the parent company National Federation of Subpostmasters as the group qualifies as small and as such it is not legally required to file group accounts.

Going concern

The financial statements have been prepared on a going concern basis.

 

N.F.S.P. Trading Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

2

Accounting policies (continued)

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 30 April 2025 was Guy Michael Butterworth, who signed for and on behalf of Lucraft Hodgson & Dawes LLP.

.........................................

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Internally generated software

33% - straight line

 

N.F.S.P. Trading Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

2

Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Profit before tax

Loss is arrived at after charging the following:

2024
 £

2023
 £

Audit of the financial statements

3,500

3,000


 

 

N.F.S.P. Trading Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

5

Intangible assets

Internally generated software development costs
 £

Total
£

Cost or valuation

At 1 October 2023

11,195

11,195

At 30 September 2024

11,195

11,195

Amortisation

At 1 October 2023

8,308

8,308

Amortisation charge

960

960

At 30 September 2024

9,268

9,268

Carrying amount

At 30 September 2024

1,927

1,927

At 30 September 2023

2,887

2,887

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

35,384

32,823

Amounts owed by related parties

8

12,274

-

Prepayments

 

702

22

Other debtors

 

11,701

9,736

   

60,061

42,581

 

N.F.S.P. Trading Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

10

391

Amounts owed to group undertakings and undertakings in which the company has a participating interest

8

-

43,326

Taxation and social security

 

2,406

3,359

Accruals and deferred income

 

84,449

91,319

 

86,865

138,395

8

Related party transactions

Summary of transactions with parent

Services from parent company.
 The company received management and employee services from the parent company during the year.
 

 

N.F.S.P. Trading Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

8

Related party transactions (continued)

Expenditure with and payables to related parties

2024

Parent
£

Rendering of services

65,000

65,000

2023

Parent
£

Rendering of services

65,000

65,000

Loans to related parties

2024

Parent
£

Total
£

Advanced

12,274

12,274

At end of period

12,274

12,274

Loans from related parties

2024

Parent
£

Total
£

At start of period

43,326

43,326

Advanced

65,000

65,000

Repaid

(108,326)

(108,326)

At end of period

-

-

2023

Parent
£

Advanced

43,326

At end of period

43,326

Terms of loans from related parties

 

N.F.S.P. Trading Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

8

Related party transactions (continued)

The loan is interest free and repayable on demand.
 

9

Parent and ultimate parent undertaking

The company's immediate parent is National Federation of Subpostmasters, incorporated in England.

  These financial statements are available upon request from Evelyn House, 22 Windlesham Gardens, Shoreham by Sea, West Sussex, BN43 5AZ