The National Association of Master Bakers Limited Accounts






	The National Association of Master Bakers Limited
	Company No. 04196498

	Information for Filing with The Registrar
	31 December 2025

The Directors present their report and the accounts for the year ended 31 December 2025.

Principal activities

The principal activity of the company during the year under review was to promote the interest of the craft bakery trade. To engage with government departments on legislative matters and be the voice of the craft baking industry, under the duty of a trade association. The Craft Bakers Association (CBA) is the UK’s leading community of Professional Bakers. The Association offers such a wide range of member services that it remains relevant for all businesses producing bakery products, large or small, retail or wholesale. Before adding to the long list of services, members are asked to assess the potential new service, thereby ensuring that they are relevant and helpful for members. This constant adding and refreshing services means that the Association continues to grow with 44 new members joining last year.
Business Review The Association continues to maintain a strong financial position. Whilst the year under review resulted in a small operating deficit, this reflects the Board's continued investment in delivering high-quality services, representation and support for members during a period of increasing operating costs. The Board's ambition remains to manage the Association prudently and, wherever possible, achieve a financial position that is as close to break even as possible each year. This approach ensures that membership income is reinvested directly into services, events, lobbying, member support and strategic initiatives, rather than generating profit. The Association's Balance Sheet continues to demonstrate a healthy financial position, with strong investments and reserves providing long-term stability and resilience. These reserves enable the Association to continue investing in new services, respond to industry challenges and support members into the future. As a trade association, the Company does not pay dividends to its Directors. Any surplus generated is retained within the Association and reinvested for the benefit of members through enhanced services, representation, education, lobbying and industry support. The past year has seen the setting up of a Bakery All Party Parliamentary Group (APPG) with the CBA as the secretariat. This gives members an opportunity to speak directly to MPs who have an interest in the Bakery sector. We believe that this will give us even more opportunities to lobby for the sector. With the majority of member being private, family businesses we continue to work closely with Family Business UK and the Independent Retailers Consortium. Regular member surveys continue to help with giving the background information for our lobbying of Government. Challenges and Highlights Independent businesses in the UK continue to be burdened with more legislation and costs, whether that be increased NI, the new Business Property relief rules or the changes in business rates. Added to this ingredients costs continue to rise so putting further pressure on members. The new employment laws introduced in the last 12 months mean that more and more members are using the excellent HR services, the increasingly complex Food legislation makes the Unitary Authority service equally important to members. The constant lobbying and ongoing membership of pressure groups is an important part of the Association. The CBA maintains close links with bakery colleges, the ABST and NDFT to offer the best routes into our exciting sector, the Training and Benevolent fund is also there to help members offer training to their staff. Directors' Attendance and Remuneration 4 Board meetings were held in 2025 - March, May, July and November. N J T Harris - Attendance 4 meetings. Remuneration - 12 x £1,250 = £15,000 for position of Chairman D J Carr - Attendance 3 meetings. Remuneration - 3 x £500 = £1,500 J R Foster - Attendance 4 meetings. Remuneration - 4 x £500 = £2,000 L Fussnegger - Attendance 4 meetings. Remuneration - £NIL C Grant - Attendance 4 meetings. Remuneration - 4 x £500 = £2,000 W El-Haddad - Attendance 4 meetings. Remuneration - 4 x £500 = £2,000 J Lamper - Attendance 4 meetings. Remuneration - 4 x £500 = £2,000

Directors

The Directors who served at any time during the year were as follows:

D.Carr
W.El-Haddad
J.Foster
L.Fussnegger
C.Grant
N.J.T.Harris
J.Lamper




The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

N.J.T.Harris
Director
24 June 2026

at	31 December 2025
Company No.		04196498	Notes	2025	2024
				£	£
Fixed assets
	Tangible assets		5	321,798	321,567
	Investments		6	381,758	369,799
				703,556	691,366
Current assets
	Stocks			8,315	12,926
	Debtors			41,279	164,098
	Investments		7	-	-
	Cash at bank and in hand			20,431	75,495
				70,025	252,519
Creditors: Amount falling due within one year				(100,748)	(270,292)
Net current liabilities				(30,723)	(17,773)
Total assets less current liabilities				672,833	673,593
Provisions for liabilities
	Deferred taxation		8	(33,792)	(40,969)
Net assets				639,041	632,624

Capital and reserves
	Revaluation reserve		9	182,430	165,513
	Profit and loss account		9	456,611	467,111

Total equity				639,041	632,624


These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

All the members have consented to the preparation of abridged financial statements for the year ended 31 December 2025 in accordance with the Companies Act 2006.

As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 24 June 2026 and signed on its behalf by:
N.J.T.Harris
Director
24 June 2026

for the year ended 31 December 2025

1

General information

The National Association of Master Bakers Limited is a private company limited by shares and incorporated in England and Wales.

Its registered number is: 04196498

Its registered office is:

21 Baldock Street

Ware

SG12 9DH

The abridged accounts have been prepared in accordance and comply with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006, including the provisions permitting an abridged profit and loss account and balance sheet to be prepared.

2

Accounting policies

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when all the following conditions are satisfied: • the Company has transferred to the buyer the significant risks and rewards of ownership of the goods; • the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; • the amount of revenue can be measured reliably; • it is probable that the economic benefits associated with the transaction will flow to the Company; and • the costs incurred or to be incurred in respect of the transaction can be measured reliably. Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Furniture, fittings and equipment

25% Reducing Balance

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Freehold investment property

Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account. No depreciation is provided in respect of investment properties.

Investments

Unlisted investments (except those held as subsidiaries, associates or joint ventures) are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, any changes in fair value are recognised in profit and loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs. Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employee benefits

Defined contribution pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the balance sheet.

3	Employees
		2025	2024
		Number	Number
	The average monthly number of employees (including directors) during the year was:	4	4

4	Taxation
		(a) Tax on profit on ordinary activities	2025	2024
		The tax charge is made up as follows:	£	£
		UK corporation tax
		Origination and reversal of timing differences	(7,177)	(17,554)
		Total deferred tax	(7,177)	(17,554)

		Tax on profit on ordinary activities	(7,177)	(17,554)

		(b) Factors affecting the total tax charge for the period
		The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The differences are reconciled below:
		Lower	2025	2024
		(7177)	£	£
		Profit on ordinary activities before tax	(17,677)	5,335


		Profit on ordinary activities multiplied by standard rate of corporation tax in the United Kingdom	-	-
		Expenses not deductible for tax purposes	(7,177)	(17,554)
		Tax on profit on ordinary activities	(7,177)	(17,554)

5	Tangible fixed assets
							Total
			£	£	£	£	£
		Cost or revaluation
		At 1 January 2025	-	-	-	-	386,108
		Additions	-	-	-	-	1,638
		At 31 December 2025	-	-	-	-	387,746
		Depreciation
		At 1 January 2025	-	-	-	-	64,541
		Charge for the year	-	-	-	-	1,407
		At 31 December 2025	-	-	-	-	65,948
		Net book values
		At 31 December 2025	-	-	-	-	321,798
		At 31 December 2024	-	-	-	-	321,567

6	Investments
			Investment in Subsidiaries	Other investments	Total
			£	£	£
		Cost or valuation
		At 1 January 2025	-	-	354,754
		Additions	-	-	130,009
		Revaluation	-	-	5,372
		Disposals	-	-	(123,421)
		At 31 December 2025	-	-	366,714
		Provisions/Impairment
		At 1 January 2025	-	-	(15,044)
		At 31 December 2025	-	-	(15,044)
		Net book values
		At 31 December 2025	-	-	381,758
		At 31 December 2024	-	-	369,798

7

Current asset investments

8	Deferred taxation
			Accelerated Capital Allowances, Losses and Other Timing Differences		Total
			£	£	£
		At 1 January 2025	40,969	-	40,969
		Charge to the profit and loss account for the period	(7177)		(7,177)
		At 31 December 2025	33,792	-	33,792

9	Reserves
			Revaluation Reserve	Capital redemption reserve	Total other reserves
			£	£	£
		At 1 January 2024	165,513	-	165,513
		At 31 December 2024 and 1 January 2025	165,513	-	165,513
		Movement on revaluation reserve	16,917		16,917
		At 31 December 2025	182,430	-	182,430

		Revaluation reserve - reflects the revaluation of property other than investment properties.
		Profit and loss account - includes all current and prior period retained profits and losses.

10

Transition to FRS 102

The impact from the transition to FRS 102 is as follows: