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NATIONAL FEDERATION OF PROPERTY PROFESSIONALS

ANNUAL REPORT & ACCOUNTS

2015/16

40731_NFoPP - Annual Report 2015-16.indd 1 24/05/2016 16:35

3NFoPP Annual Report & Accounts 2015/16

Contents

4 Introduction

5 Noticeofannualgeneralmeeting2016

6 NAEAPresident’sreport

7 ARLAPresident’sreport

8 Minutesoftheannualgeneralmeeting2015

14 Companyinformation

15 Groupstrategicreport

16 Directors’report

17 Auditors’report

19 Financialstatements

40731_NFoPP - Annual Report 2015-16.indd 2-3 24/05/2016 16:36

5NFoPP Annual Report & Accounts 2015/16NFoPP Annual Report & Accounts 2015/164

National Federation of Property Professionals

Eighth annual general meetingIntroduction

1. Apologies2. Chairmanopeningremarks3. ToapprovetheMinutesoftheEighthAnnualGeneralMeetingoftheNationalFederationofPropertyProfessional

heldatTheCharingCrossHotel,LondononFriday19June2015at11.30am4. Toreceiveand,ifapproved,adopttheaccountsfortheyearended31December2015.(Questionsontheaccounts

shouldbesubmittedtotheDirectorofFinanceatArbonHouse([email protected])inwritingatleastsevendayspriortothemeetinginorderthathemayrespondwiththefullinformationavailable)

5. Appointmentofauditorsfortheensuingyear6. ReportbyManagingDirectorDavidCoxandMarkHaywardFNAEA(Honoured)FNAVA7. DeclarationbyarepresentativeofMi-Voice,BenThomas,ontheelectionofthePresidentialTeamsandNFoPP

Boardmembersfortheensuingyear8. PresentationofPresidentialjewels9. ThePresidentofARLA,NikMadan10. ThePresidentofNAEA,DavidMackie11. Anyotherbusiness.(ItemstoberaisedunderthisheadingmustbenotifiedtotheExecutiveOfficeatArbonHouse

([email protected])atleastsevendayspriortothemeeting)

FollowingtheAGM,lunchwillbeserved.IfyouwishtoattendtheAGMandthelunch,pleaseinformSarahDavies([email protected])inorderthatplaceisreserved.

NoticeisherebygiventhattheNinthAnnualGeneralMeetingoftheFederationwillbeheldat

CharingCrossHotel,London

Friday17June2016at11.30am

BYORDEROFTHEBOARD: MarkHayward,CompanySecretary,May2015

The challenge of doing justice to a brief synopsis of 2015 is the sheer scale of achievements and successful projects undertaken by the Boards, Presidential teams and staff in strengthening our Associations during a demanding time for the property sector.

Duringtheperiod,momentuminmembershipcontinuedapace,andwehaverecord-breakingincreasesacrossdivisionsoverthelastfiveyears.Totalyear-on-yeargrowthincreasedbyafurther5%,atestamenttoeverybody’sendeavours.

Wehavebeenandcontinuetokeepmembersuptodatewiththelatestdevelopmentswhichaffectday-to-daybusinesspractice.16,000membersacrossthedivisionsreceiveregularupdatesviaournewslettersandmagazinewithagrowingnumbertakingpartinmonthlysurveys.NewtoolshavebeendevelopedincludingfactsheetswhichgivepracticaladviceoncomplyingwithnewregulationswhilethewebsiteshavebeenimprovedtoensurethatsignpostingonpopulartopicslikeRighttoRentchecks,MoneyLaunderingRegulationsandSmokeandCarbonMonoxideAlarmscanbeeasilyfound.Allofthisensuresthatthedivisionsarethefirstportofcallforsupportandadvice.

OurlobbyingworkhasgrownoverthelastyearwithdemonstrableprogressbeingmadeinareasincludingmandatoryClientMoneyProtection,ImmigrationAct2014,RentSmartWales,anti-moneylaunderingworkinpartnershipwithHMRC,NCAandTransparencyInternationalandLandandBuildingsTransactionTaxinScotland.

Severalnewinitiativeshavecometofruition.Theseincludeon-linebookingsformembership,eventsandcourses;significantincreasesinattendancelevelsforourConferencesandRegionalMeetings/Masterclasses;rolloutofTownHalldebatestoengagewithgrass-rootstakeholders;andgreaterengagementwithlandlordsviaseminarprogrammes.

Alltheabovegenuinelyhelptodrivethebusinessforwardbyprovidingabettermemberandstakeholderexperienceandatthesametimeallowingustohaverelevantmarketfeedback.Handinhandwiththesehasbeenthedevelopmentandprovisionofqualitymarketingcollateralbethathardcopy,orwebanddigitalformatstocaterforourtimeconstrainedmembership.

AlsoourmarketreachandreputationlevelsarestrengthenedbyexcellentpublicationssuchastheHousing2025Report,launchedinDecemberlastyearaswellasourmonthlysurveys.

TheoftenfreneticscheduleundertakenbyNAEAPresidentMartynBaumandARLAPresidentPeterSavageistobeapplaudedastheyconsultwithmembersandraiseourmediaprofilesacrossallformsofbusinessandconsumermedia.Theseambassadorialrolesreallydoimpactbeneficiallyonmembers,thepoliticallandscapeandourvariouspartnershipgroups.

Asafinalnotethereisarichveinofequallyexcitingprojectsthathavebeenstarted,whichwillhelpshape2016andensureourprofilegoesfromstrengthtostrength.Ourabilitytoleadthepropertysectorisinexcellenthealth.

David Cox ARLA MD (left)

ARLA MD

Mark Hayward (right)

NAEAMD,FNAEA,FNAVA(Hons)



President’s report President’s report

Martyn BaumNAEAPresident

Peter SavageARLAPresident

As I look back and reflect on my year your President it gives me great pride that I pass the baton onto David Mackie with the NAEA in a fantastic position. We have a Board with a clear focus to ensure that our member benefits are fit for purpose, these have been reviewed, analysed and enhanced with further enhancements in the pipeline to benefit the membership in an ever challenging landscape. Our association is firmly the go to organisation for the media when commenting on the housing market and the Government when needing opinion on policy. We have established strong international relations from across the world including the National Association of Realtors in the United States. We have a Memorandum of Understanding with many Countries throughout the world and many are now visiting us in the UK to fully understand how they can replicate our association in their homeland. WeshouldallfeelsafeintheknowledgethattheNAEAisatthecentreofdevelopingthenextgenerationofpropertyprofessionalwiththeexcitingnewsoftheforthcomingapprenticeshipschemededicatedtothepropertyindustry. IhavethoroughlyenjoyedmytermasPresidentandthepartoftherolethatIenjoyedthemostistravellingthelengthandbreadthoftheUK,meetingmanyofyouatourMasterclassesandconferencestounderstandingyourchallengeswhichvaryfromregiontoregion.Ihavepersonallybeeninspiredbythepositiveanddoggedwaythesechallengesarefacedandovercome. IwouldliketotakethisopportunitytothankmywifeNatasha,myfamilyandmyemployersLeadersfortheircontinuedsupportandallowingmetheopportunitytofollowmydreamandtrytomakeadifferencetotheassociationandindustry.IwouldalsoliketorecognisethehardworkcarriedoutbyeveryoneatArbonHouseandthanktheteamfortheireffortstoensureallmembersofallthedivisionsofNFoPParesupported. WeallhaveanexcitingyearaheadasDavidMackietakesovertherein.Iknowhewillcontinuetopushforwardtheassociation,Iwishhimalltheverybest. IthasbeenanhonourandaprivilegetobeyourPresidentandIthankyoufortheopportunityandthesupportyouhaveshownmesinceJune2015.

As my Presidency draws to a close, it is time to reflect on my busy but fulfilling year in office.

Withtheextraordinaryamountofnewlegislation,introducedin2015andonintothisyear,wecontinuedtoimprovethesupportandguidanceourmemberneededtoweatherthislegislativestorm.OurcommunicationandeventsteamsensurekeyspeakersaddressingRegionalConferencesandmeetings,coverthosetopicsthatareessentialtoourmember’scompliance,andtheiradvicetoclients,andindoingsoexercisingourdutyofcaretotheconsumer.

WearequicktoprovideinformationviatheverypopularFactSheets,whetheritbeRighttoRent,SmokeAlarms,Section21changes,orCPR,allisnowreadilyavailableonline.

OverthemanyyearsIhaveworkedinthisindustrythestockresponsetoARLA’sconsistentandon-goingdemandforfullregulation,bypoliticiansofallpersuasions,istospeakyetgainoftheirreluctancetoburdenourbusinesses,withredtapeoradditionalcost.

AtARLAConferenceonApril12thMinisterBrandonLewisunderlinedhisrejectionofourproposedamendmenttotheHousingandPlanningBill2015,seekingtheintroductionofcompulsoryClientMoneyProtection.Despitethis,ourcampaignoflobbyingcontinued,supportedbytheindustry’sleadingstakeholders.WemetandwrotetoLordsonallsidesoftheHouse.

OnApril20th,theMinisteragreedtotheinclusionofanenablingamendmenttotheBill,leavingthedooropentotheinclusionofcompulsoryCMPatsomepoint.Thoughnotquitethere,adoorthatwasfirmlyshutonly8daysearlier,wasnowajar!WebelievethelobbyingofgovernmenttobeanessentialandevergrowingroleoftheAssociation,andwenowhaveBiMonthlymeetingswiththeDCLG.Ourinfluencecontinuestogrow,andthevalueofouradvicerecognisedbythoseinpower.

InadditiontoARLA’Sstrategicplanning,thethreeC’sofmymissionstatement,CorporateEngagement,CradletoGraveandConsumerAwarenesscontinueapace.Wehaveincreasedmembershipnumbers,nowover8,000,welcomedourfirstinstitutionalinvestorintomembership,andhaveongoingtalkswithanumberofourindustry’smajorplayers,allofwhomwhonowseegreatvalueinmembershipofARLA.Wehavedevelopedourworkineducationandtraining,andtheTrailblazersapprenticeshipscheme,whichwillreplacethecurrentschemein2017.

Ourpressandradiocoveragehasincreaseddramaticallyinthepastyear,afterthereleaseofourCostofRentingreport,inonedayDavidCoxgave3TVand6Radiointerviewsinoneday,with19Nationalprintpieces,andevenSheltertweetedourresults,alladdingyetfurthertoincreasedawarenessofourbrand.

ThroughoutmytimeaspartofthePresidentialteam,mycontactwiththeindividualmembershasbeenthemostrewardingexperience.Whetherinreceiptofcriticismorpraise,supportorconcern,theirinput,feedbackandpassionforthisindustryandourAssociationcontinuestoaddstrengthintermsofnumbersandresolve.

OurincomingPresidentsharesthesamepassion,commitmentanddrivetoexcellenceandregulation.WithNikandhisPresidentialteamdrivingusforwar,assistedbyDavidCox,andsupportedbyastrongandmotivatedteamatArbonHouse,wecanonlygofromstrengthtostrength.

IthasbeenagreathonourtoserveasyourPresident.

“ NAEA is at the centre of developing the next generation of property professional…”

“ We have increased membership numbers, now over 8,000…”

Nee

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Minutes of the annual general meetingNational Federation of Property Professionals

Minutes of the annual general meeting

In attendance: MichaelFinn,ExecutiveChair MarkHayward,ManagingDirector,NAEA DavidCox,ManagingDirector,ARLA RobertClutton,DirectorofFinance BrianSchubert,HeadofMarketingCommunications DarylMcIntosh,MembershipDevelopmentExecutive RichardLocke,MembershipDevelopment JoannaPainter,NAEAExecutiveOfficer RalphJackson,Lansons RimmiShah,Lansons JonCronin,Lansons BenThomas,Mi-Voice BarneyNewman,Photographer SusanNeedham,Notetaker

The Eighth Annual General Meeting of the National Federation of Property Professionals was held at the Charing Cross Hotel in London on the 19th June 2015 at 11.30am, following the NAEA and ARLA Board meetings.

NFoPP BoardAidanReedClaireLloydJanHytchMartynBaumPatrickBullickPeterSavageRossJezzardSimonGerrardTimHyattValerieBannister

NAEA BoardAndyTruscottColinSharpDavidBroschombDavidMackieKatieGriffinLaurenScottMatthewGrayPaulBridgemanPhillipArnold

ARLA BoardAnthonyJonesNikMadanPeterSavagePhilipChadwickPhilipKeddieRichardSelwynRossJezzardSallyLawson

ARLA Regional RepresentativesCharlesOrlebarDavidWaterhouseDawnClarkeGillMooneyIanColbanLindaSpelmanRachelHanniquet-BrookingSpencerFortag

College of FellowsChrisBrownDesRowsonFrancesBurkinshawJohnCrossleyJohnOakleyKeithBakerLindaTravellaRichardCopus

PresentCliveBucklandDeniseMorrisJamesWyattJaneCronwright-BrownJohnPringPeterLightStephanieO’Driscoll

1 Apologies AmeliaGreene,SimonHardy,BrianMoran,LouiseGriffiths,JillyStewart,AngelaDavy,CharlotteMalone,DeborahFranklin,JillElkington,SusanFitz-Gibbon,SarahHoldsworth,DavidColeman,KatieGriffin.

2 Minutes of the seventh Annual Meeting of the National Federation of Property Professionals held on 13 June 2014 at the Charing Cross Hotel Itwasunanimouslyagreedthattheminuteswereanaccuraterecordofthemeeting.

3. Annual General Meeting of NFoPP FollowingtheapprovaloftheminutesofthepreviousAGM,RobClutton,DirectorofFinance,presentedontheFederations’accountsfortheyearended31stDecember2014.Thesewereapprovedbythemeeting.MichaelFinnthankedRobCluttonforhisexcellentworkthroughouttheyear.

4. Annual Report of the Chairman of the NFoPP Board MichaelFinnwelcomedeveryonetotheAGMandspokeofsomeofthenewandexistingbenefitsthatwereavailabletomembersaspartoftheirmembership:

• TheNFoPPofficesattheSanctuary,whichoverlookedParliamentSquareinWestminster,asuiteofofficesworthyoftheAssociations.MemberswereencouragedtobookthefacilitieswhenarrangingmeetingsinLondon.

• TheARLAtelephonehelpline,whichwasreceiving16callsadayfrommembersforadvice.

• ThePropertyProfessionalmagazine,whichwasthetoppropertymagazineintheUK.

• ThePrimaryAuthorityveryspeedilyassistedmemberswithqueriesthattheymightusuallyrefertotheirlocalTradingStandardsAuthorityandgaveclearandconciseadvice.

• TheAffinitycompanies,suchastheMasterTrust,offeredtremendousvaluetomembersiftheytookup affinityservices.

MFwasoftheopinionthatsuchbenefitsmadethemembershipfeeaveryworthwhileandusefulexpense.Therehadbeenanoverall6%growthinmembershipoverthepastyear,whichwasahugeachievementforamembershiporganisation,andthebenefitshadhelpedinthis.

4.1 Lansons, PR Consultants ImmediatelypriortothebusinessoftheAnnualGeneralMeeting,Lansons,PRConsultantstoNFoPP,presentedontheresultsoftheirworkoverthepasttwelvemonths,whichincludedmeetingswithkeystakeholders,appearancesonnationaltelevisionandradioandnewspapercomment.Lansonshadalsoorganisedaseriesof“TownHall”debatesacrossthecountryinwhichinfluentialpropertyprofessionalshadbeeninvitedtoparticipateandthediscussionsfromwhichcontributedtotheNFoPPHousingManifestopriortotheGeneralElection.RalphJacksonandRimmiShahfromLansonsthankedMarkHayward,DavidCox,SimonGerrardandValerieBannisterandallthosebehindthescenesatArbonHousefortheirsupportovertheyear.MichaelFinnthankedandcongratulatedLansonsontheirexcellentwork,whichhadhelpedNFoPPtopunchaboveitsweight.




Minutes of the annual general meetingNational Federation of Property Professionals


4.2 Arbon House RegardingArbonHouse,MFreportedonanotherexcellentyearfortheQualificationsteam.Thechallengewastoconvertthosetakingthequalificationsintomembersandthiswassomethingthatwasbeingactivelyworkedon.TheCoursesDepartmentbookingshadincreasedsubstantiallyfollowingtheintroductionofanonlinebookingsystem.MichaelthankedMarkHaywardandDavidCox,ManagingDirectorsNAEAandARLArespectively,andallthestaffatArbonHouse,fortheirassistanceandsupporttohim.

4.3 The NFoPP Board MichaeladvisedthatPatrickBullickandTimHyattweresteppingdownfromofficeasBoardmembers.Hethankedthemfortheirworkandefforts,whichweremuchappreciatedandsaidtheywouldbothbemissed.ThetwoPresidents,SimonGerrard(NAEA)andValerieBannister(ARLA)hadgivensterlingserviceduringtheiryearofoffice,meetingwithhundredsofmembersandraisingthebannerfortheirrespectiveassociationsinaremarkableway.MartynBaumandPeterSavagewouldbetakingoverasNAEAandARLAPresidentsrespectivelyandMichaelwishedthemaspecialyear.

5. Report on the election of the Presidential Teams and NFoPP Board BenThomasfromMi-Voice,whohadorganisedtheon-lineelections,attendedtheAGMtopresenttheresults.Heofferedoneobservationinthattheturnoutfortheelectionswasverylowincomparisontoothermembershipassociations,withtheNAEApolling3.2%andARLA5.3%.Benwouldhaveexpectedaturnoutofapproximately15%.HewouldbediscussingthiswiththeCompanySecretary,MarkHayward,toseehowthiscouldbeimproved.

Theelectionresults:

NAEA MartynBaumtookoverasPresidentinplaceofSimonGerrard.HisdeputyisthenewPresidentElect,DavidMackie,andKatieGriffinwaselectedastheDivisionalVicePresident.

LaurenScottwaselectedtotheNFoPPBoardonafouryearterm.

ARLA PeterSavagetookoverasPresidentinplaceofValerieBannister.HisdeputyisthenewPresidentElect,NikMadan,andSallyLawsonwaselectedastheDivisionalVicePresident.

ValerieBannisterwaselectedtotheNFoPPBoardonafouryearterm.

NAVA PhillipArnoldhadbeenchosenasNAVA’snewPresident,followingonfromPaulBridgeman.

ICBA DavidBroschombwouldcontinueasICBAChairforthenexttwelvemonths.

TimHyattreceivedanARLAPastPresidentmedalandMichaelFinnthankedhimforhistirelessworkandwisecounselovertheyears.PastPresidentMedalswerealsopresentedtotheoutgoingNAEAPresident,SimonGerardandoutgoingARLAPresident,ValerieBannister.

6. Report by the new ARLA President, Peter Savage PeterSavagesaidthatitwasagreatprivilegetobestandingbeforetheAnnualGeneralMeetingasthenewARLAPresident.TheconcernsoftheGeneralElectionwereinthepastandtherewasanexcellentARLAConferencetolookforwardtoearlyin2016.PeterwaslookingforwardtoworkingwithNikMadanandSallyLawson,PresidentElectandVicePresidentrespectively.

PeteroutlinedthegoalsandaimsthattheARLABoardintendedtointroduce,whichhecalledthe3Cs:

• CorporateEngagement-engagingwiththemajorplayersintheindustrycurrentlynotinmembership,tofindcommongroundandmutualbenefit.

• CradletoGrave-acoherentmessagetotheindustryofwhateachdivisionofNFoPPofferedtheirmembers,andonethatwouldbeconsistentthroughouttheindustryledmarketingcampaigns.

• ConsumerEngagement-drivingtheconsumertoARLAmembersandfirms.

PetergavespecialthankstotheARLAmarketingteam,especiallyRossJezzard,SallyLawson,ClaireLloydand TonyJones.TherewasalsoamassivethankyoutoValerieBannisterforherloyaltyandfriendshipoverthepasttwelvemonths.

PeterwishedMartynBaum,hisNAEAcounterpartthebestofluckforhisPresidentialyearahead.

7. Report by the new NAEA President, Martyn Baum MartynsaidthathavingtheopportunitytobePresidentoftheNAEAwasthegreatestopportunityinthe industryandhewouldattempttochoosetherightwayfortheAssociation;hewouldbetakingtheresponsibilityveryseriously.

MartynsaidthathewouldbeengagingwithmembersthroughregionalconferencesandtheexcellentMasterclassesandincreasingpublicawarenesswiththehelpofLansons.HewouldbebuildingonthefoundationsputinplacefortheAssociationthroughtheCollegeofFellowsandpreviousPresidents,ensuringthatfuturePresidentshadtheopportunitytorepresentanorganisationofincreasingprofessionalstandards.Hewouldstrivetoensurethatthesewereincreasedthroughouttheindustry.

Martynwouldbeurgingnon-memberagentstotakeupmembershipandsignuptotheNAEACodeasthebestwaytoshowtheircredibilitytoconsumersintheabsenceofGovernmentregulationsfortheindustry.TheNAEAmustcontinuetosupportmembers’needs,ensuringthattheycouldfaceissuesinachangingmarket.WiththeassistanceofDavidMackie,PresidentElect,andMarkHayward,ManagingDirector,hehadputtogetherateamofRegionalExecutiveswhowouldspreadthewordandengagethemembershipthroughouttheUK.

MartynlookedforwardtoworkingwithDavidMackieandKatieGriffin,VicePresidentandalsoPeterSavageandtheARLAPresidentialteam.Overthenexttwelvemonths,theywouldbetravellingtheUK,promotingmembershipbenefitsandaskingforthesupportofmembersinpromotingtheAssociations.


NFoPP Annual Report & Accounts 2015/1612



8. College of Fellows ChrisBrown,ChairoftheCollege,madeapresentationontheworkoftheCollegeandthenewlyformedArbonTrust,whichhadreplacedtheBenevolentFund.

TheArbonTrustwouldassistpastandpresentmembersandthosefromtheNFoPPfamilywhoweresufferingfinancialhardship.

Eachclaimwouldbeassessedindividually,usingcriteriasetbytheCollegeofFellows.

TheArbonTrustwouldalsoassistwiththeprovisionofbursariesforthoseseekingacareerwithinthe propertyindustry.

FundsfortheArbonTrustwouldberaisedthroughmembershiprenewalsandbuyinggoodsfromcertainproviders,whichwouldprovidesomemoneytotheTrust.

CharitablestatuswasbeingsoughtfromtheCharityCommissionandshouldbeavailableintheverynearfuture.

Memberswereaskedtoofferideasandschemesformembershipparticipationandfundraising.PeterLight,along-standingCollegemember,haddonatedfundstokick-startthefundraisingfortheTrustandwasthankedforthisgenerousgesture.

ChrisBrownthenintroducedtheDavidSymonsAward,whichwouldinfuturebeawardedtotheNFoPPStudentoftheYear.ThefirstrecipientwasStephanieO’DriscollfromCornwallandshewaspresentattheAGMtoreceivetheawardfromtheCollege.

9. Appointment of auditors for the coming year ItwasunanimouslyagreedthatStilesandCompanycontinueasthecompanyauditors.

10. Any other business Somequestionswereraisedfromthefloor;PeterLighthadseveralqueriesregardingthenewNFoPPpremisesattheSanctuaryinLondon;CliveBucklandraisedtheissueofregulationofthepropertyindustryandthatofcyberneticswhichwouldbeintroducedtotheindustry;CharlesOrlebarhadsomequestionsconcerningsalariesandremunerationatArbonHouse.

Themeetingclosedat13.00.Allattendeesthenenjoyedlunchatthehotel,whichgavetheopportunityfornetworkingwitholdandnewcolleagues.



Company informationFor the year ended 2015

Group strategic reportFor the year ended 2015

DIRECTORS MsVJBannister MJBaum PBullick DJColeman MissKLGriffin MrsJLHytch RAJezzard MrsCLloyd DMackie NMadan AJReed PESavage MissLScott

SECRETARY MHayward

REGISTERED OFFICE ArbonHouse

6TournamentCourt EdgehillDrive Warwick CV346LG

REGISTERED NUMBER 00897907

AUDITORS Stiles&Company

CharteredCertifiedAccountants 2LakeEndCourt Taplow Maidenhead Berkshire SL60JQ

The directors present their strategic report of the company and the group for the year ended 31 December 2015.

PRINCIPAL ACTIVITYTheprincipalactivityofthegroupisthepromotionandunityofunderstandingamongstestateagentsandlettingagents.Itscoreobjectiveistoraisestandardsintheindustry.

THE BUSINESS MODELThegroupfocusesonimprovingstandardsintheindustry,whetherthisbethroughlobbying,activeparticipationinindustrygroupsandcommitteesorthroughtheprovisionoftrainingandqualificationstoitsmembersandtheindustryatlarge.ThemembersoftheAssociationswithintheorganisationfollowacodeofconductandparticipatingagenciesarerequiredtobelongtoanOmbudsmanredressscheme.

REVIEW OF BUSINESSThebusinesscontinuedtodevelopin2015withincreasesinincomefromthecorebusinessareasofmembershipandqualifications.

Thelevelofservicesandactivitygrewin2015andthissawanincreaseincosts,resultinginadeficitfortheyear.

Thegrouphascontinuedtoinvestinitssystemsandinfrastructureinordertoimproveitsofferingtomembers.

PRINCIPAL RISKS AND UNCERTAINTIESThechangingpoliticallandscapecreatesuncertaintyasdothevulnerabilitiesoftheUKandglobaleconomiesandthevolatilityofthepropertymarket.

FUTURE DEVELOPMENTSThegroupcontinuestofocusonbeingthegotoorganisationandhasengagedwithconsultantstoassistinconfirmingthestrategicdirectionandthebusinessalignmenttosupportthisandensuremembervalue.

Theorganisation’sonlinesystemscontinuetodevelopwithonlinemembershiprenewalsinplace,andonlinemembershipapplicationscomingonstreamin2016.

KEY PERFORMANCE INDICATORSThegroupwillpushforsustainablemembershipgrowth,encouragingmoreagentstoengagewiththemembershipcodeofconductandtoraisestandardsintheindustry.Membershipnumberswillcontinuetobeakeyperformanceindicator.Intheyearto31stDecember2015membershipsincreased3%to15,654.ARLAmembershipsincreased5%andNAEAmemberships1%duringtheyear.

On behalf of the board,

H. M. Hayward, Secretary.



Directors’ reportFor the year ended 31 December 2015

Auditors’ report

STATEMENT OF DIRECTORS’ RESPONSIBILITIES ThedirectorsareresponsibleforpreparingtheReportoftheDirectorsandthefinancialstatementsinaccordancewithapplicablelawandregulations.

Companylawrequiresthedirectorstopreparefinancialstatementsforeachfinancialyear.UnderthatlawthedirectorshaveelectedtopreparethefinancialstatementsinaccordancewithUnitedKingdomGenerallyAcceptedAccountingPractice(UnitedKingdomAccountingStandardsandapplicablelaw).Undercompanylawthedirectorsmustnotapprovethefinancialstatementsunlesstheyaresatisfiedthattheygiveatrueandfairviewofthestateofaffairsofthecompanyandthegroupandoftheprofitorlossofthegroupforthatperiod.Inpreparingthesefinancialstatements,thedirectorsarerequiredto:

• selectsuitableaccountingpoliciesandthenapplythemconsistently;

• makejudgementsandaccountingestimatesthatarereasonableandprudent;

• preparethefinancialstatementsonthegoingconcernbasisunlessitisinappropriatetopresumethatthecompanywillcontinueinbusiness.

Thedirectorsareresponsibleforkeepingadequateaccountingrecordsthataresufficienttoshowandexplainthecompany’sandthegroup’stransactionsanddisclosewithreasonableaccuracyatanytimethefinancialpositionofthecompanyandthegroupandenablethemtoensurethatthefinancialstatementscomplywiththeCompaniesAct2006.Theyarealsoresponsibleforsafeguardingtheassetsofthecompanyandthegroupandhencefortakingreasonablestepsforthepreventionanddetectionoffraudandotherirregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS Sofarasthedirectorsareaware,thereisnorelevantauditinformation(asdefinedbySection418oftheCompaniesAct2006)ofwhichthegroup’sauditorsareunaware,andeachdirectorhastakenallthestepsthatheorsheoughttohavetakenasadirectorinordertomakehimselforherselfawareofanyrelevantauditinformationandtoestablishthatthegroup’sauditorsareawareofthatinformation.

On behalf of the board,

H. M. Hayward, Secretary.

Otherchangesindirectorsholdingofficeareasfollows: SGerrard–resigned19June2015 RHorner–resigned19June2015 THyatt–resigned19June2015

NMadan–appointed19June2015 MissLScott–appointed19June2015

MsVJBannister MJBaum PBullick

DJColeman MissKLGriffin MrsJLHytch

RAJezzard MrsCLloyd DMackie

AJReed PESavage

The directors present their report with the financial statements of the company for the year ended 31 December 2015.

DIVIDENDS Nodividendswillbedistributedfortheyearended31December2015.

DIRECTORS Thedirectorsshownbelowhaveheldofficeduringthewholeoftheperiodfrom1January2015tothedateofthisreport.

We have audited the financial statements of National Federation of Property Professionals for the year ended 31 December 2015 on pages seven to twenty three. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’.

Thisreportismadesolelytothecompany’smembers,asabody,inaccordancewithChapter3ofPart16oftheCompaniesAct2006.Ourauditworkhasbeenundertakensothatwemightstatetothecompany’smembersthosematterswearerequiredtostatetotheminaReportoftheAuditorsandfornootherpurpose.Tothefullestextentpermittedbylaw,wedonotacceptorassumeresponsibilitytoanyoneotherthanthecompanyandthecompany’smembersasabody,forourauditwork,forthisreport,orfortheopinionswehaveformed.

RESPECTIVE RESPONSIBILITIES OF DIRECTORS AND AUDITORS AsexplainedmorefullyintheStatementofDirectors’Responsibilitiessetoutonpagethree,thedirectorsareresponsibleforthepreparationofthefinancialstatementsandforbeingsatisfiedthattheygiveatrueandfairview.OurresponsibilityistoauditandexpressanopiniononthefinancialstatementsinaccordancewithapplicablelawandInternationalStandardsonAuditing(UKandIreland).ThosestandardsrequireustocomplywiththeAuditingPracticesBoard’sEthicalStandardsforAuditors.

SCOPE OF THE AUDIT OF THE FINANCIAL STATEMENTS Anauditinvolvesobtainingevidenceabouttheamountsanddisclosuresinthefinancialstatementssufficienttogivereasonableassurancethatthefinancialstatementsarefreefrommaterialmisstatement,whethercausedbyfraudorerror.Thisincludesanassessmentof:whethertheaccountingpoliciesareappropriatetothegroup’sandtheparentcompany’scircumstancesandhavebeenconsistentlyappliedandadequatelydisclosed;thereasonablenessofsignificantaccountingestimatesmadebythedirectors;andtheoverallpresentationofthefinancialstatements.Inaddition,wereadallthefinancialandnon-financialinformationintheGroupStrategicReportandtheReportoftheDirectorstoidentifymaterialinconsistencieswiththeauditedfinancialstatementsandtoidentifyanyinformationthatisapparentlymateriallyincorrectbasedon,ormateriallyinconsistentwith,theknowledgeacquiredbyusinthecourseofperformingtheaudit.Ifwebecomeawareofanyapparentmaterialmisstatementsorinconsistenciesweconsidertheimplicationsforourreport.

OPINION ON FINANCIAL STATEMENTS Inouropinionthefinancialstatements:

• giveatrueandfairviewofthestateofthegroup’sandoftheparentcompany’saffairsasat31December2015andofthegroup’slossfortheyearthenended;

• havebeenproperlypreparedinaccordancewithUnitedKingdomGenerallyAcceptedAccountingPractice;and

• havebeenpreparedinaccordancewiththerequirementsoftheCompaniesAct2006.

OPINION ON OTHER MATTER PRESCRIBED BY THE COMPANIES ACT 2006 InouropiniontheinformationgivenintheGroupStrategicReportandtheReportoftheDirectorsforthefinancialyearforwhichthefinancialstatementsarepreparedisconsistentwiththefinancialstatements.


NFoPP Annual Report & Accounts 2015/1618

Auditors’ report

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION WehavenothingtoreportinrespectofthefollowingmatterswheretheCompaniesAct2006requiresustoreporttoyouif,inouropinion:

• adequateaccountingrecordshavenotbeenkeptbytheparentcompany,orreturnsadequateforouraudithavenotbeenreceivedfrombranchesnotvisitedbyus;or

• theparentcompanyfinancialstatementsarenotinagreementwiththeaccountingrecordsandreturns;or

• certaindisclosuresofdirectors’remunerationspecifiedbylawarenotmade;or

• wehavenotreceivedalltheinformationandexplanationswerequireforouraudit.

DarrenParsons(SeniorStatutoryAuditor) for and on behalf of: Stiles & Company CharteredCertifiedAccountants 2LakeEndCourt Taplow Maidenhead Berkshire SL60JQ

Financial statements

2015



Consolidated statement of comprehensive incomeFor the year ended 31 December 2015

Consolidated statement of comprehensive incomeFor the year ended 31 December 2015

31. 12. 15 31. 12. 15 31. 12. 15

Continuing Discontinued Total

Note £ £ £

TURNOVER 3 4,865,592 83,864 4,949,456

CostofSales (2,966,843) (21,492) (2,988,315)

GROSS PROFIT 1,898,749 62,392 1,961,141

Administrativeexpenses (3,017,700) (2,386) (3,020,086)

(1,118,951) 60,006 (1,058,945)

Otheroperatingincome 4 851,730 – 851,730

OPERATING (LOSS)/PROFIT 6 (267,221) 60,006 (207,215)

Lossondisposalofsubsidiary 7 (36,232) – (36,232)

(303,453) 60,006 (243,447)

Interestreceivableandsimilarincome \^ 39,082 9 39,091

(LOSS)/PROFIT BEFORE TAXATION (264,371) 60,015 (204,356)

Taxon(loss)/profit 8 (9,863) – (9,863)

(LOSS)/PROFIT FOR THE FINANCIAL YEAR (274,234) 60,015 (214,219)

OTHER COMPREHENSIVE INCOME – –

TOTAL COMPREHENSIVE INCOME FOR THE YEAR (274,762) 60,015

Totalcomprehensiveincomeattributableto:

Ownersoftheparent (274,234) 60,015

(Loss)/profitattributableto:

Ownersoftheparent (214,219)


Ownersoftheparent (274,234) 60,015

31. 12. 14 31. 12. 14 31. 12. 14

Continuing Discontinued Total

Note £ £ £

TURNOVER 3 4,536,734 145,096 4,681,830

CostofSales (2,622,929) (13,400) (2,636,329)

GROSS PROFIT 1,913,805 131,696 2,045,501

Administrativeexpenses (2,354,467) (152,737) (2,507,204)

(440,662) (21,041) (461,703)

Otheroperatingincome 4 817,992 – 817,992

OPERATING PROFIT/(LOSS) 6 377,330 (21,041) 356,289

Interestreceivableandsimilarincome \^ 33,748 3 33,751

PROFIT/(LOSS) BEFORE TAXATION 411,078 (21,038) 390,040

Taxonprofit/(loss) 8 (41,573) – (41,573)

PROFIT/(LOSS) FOR THE FINANCIAL YEAR 369,505 (21,038) 348,467

OTHER COMPREHENSIVE INCOME – –

TOTAL COMPREHENSIVE INCOME FOR THE YEAR 369,505 (21,038)


Ownersoftheparent 369,505 (21,038)

Profit/(loss)attributableto:

Ownersoftheparent 348,467


Ownersoftheparent 369,505 (21,038)



Consolidated balance sheet31 December 2015

Company balance sheet31 December 2015

Note 31. 12. 15 31. 12. 14

FIXED ASSETS £ £ £ £

Intangibleassets 10 – –

Tangibleassets 11 1,984,017 2,058,844

Investments 12 – 7,762

1,984,017 2,066,606

CURRENT ASSETS

Debtors:amountsfallingduewithinoneyear 13 1,035,932 687,332

Cashatbankandinhand 4,269,635 4,064,926

5,305,567 4,752,258

CREDITORS

Amountsfallingduewithinoneyear 14 3,247,850 2,562,911

NET CURRENT ASSETS 2,057,717 2,189,347

TOTAL ASSETS LESS CURRENT LIABILITIES 4,041,734 4,255,953

RESERVES

Otherreserves 17 60,000 60,000

Profitandlossaccount 17 3,981,734 4,195,953

4,041,734 4,255,953

Note 31. 12. 15 31. 12. 14

FIXED ASSETS £ £ £ £

Intangibleassets 10 – –

Tangibleassets 11 1,984,017 2,058,205

Investments 12 – 7,762

1,984,017 2,065,967

CURRENT ASSETS

Debtors:amountsfallingduewithinoneyear 13 955,749 691,477

Cashatbankandinhand 4,259,000 3,983,960

5,214,749 4,675,437

CREDITORS

Amountsfallingduewithinoneyear 14 3,215,82 2,500,941

NET CURRENT ASSETS 1,998,967 2,174,496

TOTAL ASSETS LESS CURRENT LIABILITIES 3,982,984 4,240,463

CREDITORS

Amountsfallingdueaftermorethanoneyear 15 2,221,811 2,079,684

NET ASSETS 1,761,173 2,160,779

RESERVES

Otherreserves 17 60,000 60,000

Retainedearnings 17 1,701,173 2,100,779

1,761,173 2,160,779

Company’s(loss)/profitforthefinancialyear (399,606) 228,918



Consolidated statement for changes in equityFor the year ended 31 December 2015

Company statement for changes in equityFor the year ended 31 December 2015

Retained earnings

Other reserves

Total equity

£ £ £

BALANCE AT 1 JANUARY 2014 3,847,486 60,000 3,907,486

CHANGES IN EQUITY

Totalcomprehensiveincome 348,467 – 348,467

BALANCE AT 31 DECEMBER 2014 4,195,953 60,000 4,255,953

CHANGES IN EQUITY

Totalcomprehensiveincome (214,219) – (214,219)


Retained earnings

Other reserves

Total equity

£ £ £

BALANCE AT 1 JANUARY 2014 1,871,861 60,000 1,931,861

CHANGES IN EQUITY

Totalcomprehensiveincome 228,918 – 228,918


CHANGES IN EQUITY

Totalcomprehensiveincome (399,606) – (399,606)




Consolidated cash flow statementFor the year ended 31 December 2015

Notes to the consolidated cash flow statementFor the year ended 31 December 2015

Note31. 12. 15

(£)31. 12. 14

(£)

CASH FLOWS FROM OPERATING ACTIVITIES 1

Cashgeneratedfromoperations 215,406 387,572

Taxpaid (28,337) (22,588)

Netcashfromoperatingactivities 187,098 364,984

CASH FLOWS FROM INVESTING ACTIVITIES

Purchaseoftangiblefixedassets (43,128) (50,637)

Saleoftangiblefixedassets 638 –

Interestreceived 39,091 33,751

Dividendsreceived 21,039 –

Netcashfrominvestingactivities 17,640 (16,886)

Increase in cash and cash equivalents 204,709 348,098

Cash and cash equivalents at beginning of year 2 4,064,926 3,716,828

Cash and cash equivalents at end of year 2 4,269,635 4,064,926

1. Reconciliation of (loss)/profit before taxation to cash generated from operations

31. 12. 15(£)

31. 12. 14(£)

(Loss)/profitbeforetaxation (204,356) 390,040

Depreciationcharges 117,316 112,557

Shareofparticipatinginterestprofits (13,276) –

Financeincome (39,091) (33,751)

(139,407) 468,866

Increaseintradeandotherdebtors (348,600) (107,843)

Increaseintradeandothercreditors 703,413 26,549

Cash generated from operations 215,406 387,572

2. Cash and equivalents TheamountsdisclosedontheConsolidatedCashFlowStatementinrespectofcashandcashequivalentsareinrespectoftheseBalanceSheetamounts:

YEAR ENDED 31 DECEMBER 2015

31. 12. 15(£)

1. 1. 15(£)

Cashandequivalents 4,269,635 4,064,926

YEAR ENDED 31 DECEMBER 2014

31. 12. 14(£)

1. 1. 14(£)

Cashandequivalents 4,064,926 3,716,828



Notes to the consolidated financial statementsFor the year ended 31 December 2015

Notes to the consolidated financial statements (continued)

For the year ended 31 December 2015

1. STATUTORY INFORMATION

NationalFederationofPropertyProfessionalsisaprivatecompany,limitedbyguarantee,registeredinEnglandandWales.Thecompany’sregisterednumberandregisteredofficeaddresscanbefoundonthecompanyinformationpage.

Thefinancialstatementsarepresentedinsterlingwhichisthefunctionaloperationalcurrencyofthecompanyandroundedtothenearest£1.

Theprincipalnatureofthecompanyisthatofaprofessionalbody.Theprincipalactivityintheyearunderreviewwasthatofpromotionandunityofunderstandingamongstestateandlettingagents.

2. ACCOUNTING POLICIES

Basis of preparing the financial statementsThesefinancialstatementshavebeenpreparedinaccordancewithFinancialReportingStandard102“TheFinancialReportingStandardapplicableintheUKandRepublicofIreland”andtheCompaniesAct2006.Thefinancialstatementshavebeenpreparedunderthehistoricalcostconvention.

TurnoverTurnoverismeasuredatthefairvalueoftheconsiderationreceivedorreceivable,excludingdiscounts,rebates,valueaddedtaxandothersalestaxes.

Membershipfeesarerecognisedinfullatthetimeofreceipttogetherwithanappropriateproportionof deferredincome.

Examandtuitionfeesandseminarandeventincomearerecognisedwhenthecompanyobtainstheright toconsideration.

Tangible fixed assetsDepreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetoveritsestimatedusefullife.Freeholdproperty – 10%oncostand2%oncostFixturesandfitting – 25%oncost

Deferred taxDeferredtaxisrecognisedinrespectofalltimingdifferencesthathaveoriginatedbutnotreversedatthebalancesheetdate.

Pension costs and other post-retirement benefitsThegroupoperatesadefinedcontributionpensionscheme.Contributionspayabletothegroup’spensionschemearechargedtoprofitorlossintheperiodtowhichtheyrelate.

3. TURNOVER

Theturnoverandloss(2014-profit)beforetaxationareattributabletotheoneprincipalactivityofthegroup.

4. OTHER OPERATING INCOME

Ananalysisofturnoverbyclassofbusinessisgivenbelow:

31. 12. 15(£)

31. 12. 14(£)

Membershipfees 2,854,277 2,745,412

Educationandtraining 1,307,630 1,260,729

Publications 170,007 155,149

Seminarsandevents 356,488 326,675

Membershipservices 256,753 189,041

Other 4,301 4,824

4,949,456 4,681,830

Ananalysisofturnoverbygeographicalmarketisgivenbelow:

31. 12. 15(£)

31. 12. 14(£)

UnitedKingdom 4,949,456 4,681,830

4,949,456 4,681,830

31. 12. 15(£)

31. 12. 14(£)

Clientmoneyprotection 851,730 817,992







5. EMPLOYEES AND DIRECTORS

31. 12. 15(£)

31. 12. 14(£)

Wagesandsalaries 1,788,069 1,520,753

Socialsecuritycosts 159,383 157,694

Otherpensioncosts 57,553 39,887

2,005,005 1,718,334

Theaveragemonthlynumberofemployeesduringtheyearwasasfollows:

31. 12. 15 31. 12. 14

Administration 57 55

Theaveragenumberofemployeesbyundertakingsthatareproportionatelyconsolidatedduringtheyearwas57.

31. 12. 15 31. 12. 14

Directors’remuneration – –

6. OPERATING (LOSS)/PROFIT

Theoperatingloss(2014-operatingprofit)isstatedaftercharging:

31. 12. 15(£)

31. 12. 14(£)

Depreciation–ownedassets 117,317 112,576

Auditors’remuneration 22,500 26,560

Operatingleaserentals 70,927 26,748

7. EXCEPTIONAL ITEMS

31. 12. 15(£)

31. 12. 14(£)

Lossondisposalofsubsidiary (36,232) –

8. TAXATION

Analysis of the tax (credit)/chargeThetax(credit)/chargeonthelossfortheyearwasasfollows:

31. 12. 15(£)

31. 12. 14(£)

Currenttax:

UKcorporationtax 23,150 41,573

Prioryearcorporationtaxadj. (13,287) –

Taxon(loss)/profit 9,863 41,573

Reconciliation of total tax charge included in profit and lossThetaxassessedfortheyearishigherthanthestandardrateofcorporationtaxintheUK. Thedifferenceisexplainedbelow:

31. 12. 15(£)

31. 12. 14(£)

(Loss)/profitbeforetax (204,356) 390,040

(Loss)/profitmultipliedbythestandardrateofcorporationtaxintheUKof21%(2014–23%)

(42,915) 89,709

Effectsof:

Incomenotpayablefortaxpurposes 48,047 (69,595)

Depreciationaddback 24,636 25,813

Changeablelosses 7,609 –

Taxlossesutilised (13,076) (753)

Marginalraterelief (576) (1,007)

Effectsoftaxrateadjustment (575) (2,594)

Prioryeartaxadjustment (13,287) –

Totaltaxcharge 9,863 41,573

9. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

AspermittedbySection408oftheCompaniesAct2006,theStatementofComprehensiveIncomeoftheparentcompanyisnotpresentedaspartofthesefinancialstatements.







10. INTANGIBLE FIXED ASSETS

GROUPWebsite development

and software £

COST

At31January2015 473,009

and31December2015 (473,009)

At31December2015 –

AMORTISATION

At31January2015 473,009

Eliminatedondisposal (473,009)


NET BOOK VALUE



COMPANYWebsite development

and software £

COST

At31January2015 473,009

and31December2015 (473,009)


AMORTISATION

At31January2015 473,009

Eliminatedondisposal (473,009)


NET BOOK VALUE



11. TANGIBLE FIXED ASSETS

GROUP Freehold property

Fixtures and fittings Totals

£ £ £

COST

At1January2015 2,583,238 596,919 3,180,157

Additions – 43,128 43,128

Disposals – (1,733) (1,733)

At31December2015 2,583,238 683,314 3,221,552

DEPRECIATION

At1January2015 586,157 535,156 1,121,313

Additions 86,926 30,391 117,317

Disposals – (1,095) (1,095)

At31December2015 673,083 564,452 1,237,535

NET BOOK VALUE

At31December2015 1,910,155 73,862 1,984,017

At31December2014 1,997,081 61,763 2,058,844

COMPANY Freehold property

Fixtures and fittings Totals

£ £ £

COST

At1January2015 2,583,238 595,186 3,178,424

Additions – 43,128 43,128

At31December2015 2,583,238 683,314 3,221,552

DEPRECIATION

At1January2015 586,157 534,062 1,120,219

Chargefortheyear 86,926 30,390 117,316

At31December2015 673,083 564,452 1,237,535

NET BOOK VALUE

At31December2015 1,910,155 73,862 1,984,017

At31December2014 1,997,081 61,124 2,058,205







12. FIXED ASSET INVESTMENTS

GROUPInterest in other

participating interests

£

COST

At1January2015 7,762

Shareofprofit/(loss) 13,277

Dividendsreceived (21,039)


NET BOOK VALUE


At31December2014 7,762

COMPANYInterest in other

participating interests

£

COST

At1January2015 7,762

Shareofprofit/(loss) 13,277

Dividendsreceived (21,039)


NET BOOK VALUE


At31December2014 7,762

12. FIXED ASSET INVESTMENTS(continued)

Thegrouporthecompany’sinvestmentsattheBalanceSheetdateinthesharecapitalofcompaniesincludethefollowing:

Subsidiaries

NFOPP Awarding Body LimitedRegisteredoffice:EnglandandWalesNatureofbusiness:Educationandprofessionalexams

%Classofshares: holdingLimitedbyguarantee 100.00

TheNationalFederationofPropertyProfessionalshasbeenthesolememberofitssubsidiarycompanyNFoPPAwardingBodyLimited,acompanylimitedbyguarantee,sinceincorporationinNovember2006,andassuchhasnosharecapital.

Intheeventofwindingup,everymemberofthecompanyundertakestocontributetotheassetsofthecompanysuchanamountasmayberequirednotexceeding£10.

Residential Block Management Partnership Distance Learning

Registeredoffice:EnglandandWalesNatureofbusiness:Educationmaterialprovider

%Classofshares: holdingUnincorporatedpartnership 25.00

InNovember2015ResidentialBlockManagementPartnershipDistanceLearningpartnershipwasdissolvedandafinaldividendreceivedforitsshareofretainedprofits.

31. 12. 15(£)

31. 12. 14(£)

Aggregatecapitalandreserves 2,142,609 2,155,189

Profitfortheyear 257,420 140,585







12. FIXED ASSET INVESTMENTS(continued)

Association of International Property Professionals Limited

Registeredoffice:EnglandandWalesNatureofbusiness:Professionalbody

%Classofshares: holdingLimitedbyguarantee 100.00

TheNationalFederationofPropertyProfessionalshasbeenthesolememberofitssubsidiarycompanyAssociationofInternationalPropertyProfessionalsLimited,acompanylimitedbyguarantee,sinceincorporationinJanuary2006,andassuchhadnosharecapital.

Intheeventofwindingup,everymemberofthecompanyundertooktocontributetotheassetsofthecompanysuchanamountasmayberequirednotexceeding£10.

InJune2015NationalFederationofPropertyProfessionalsdisposedofAssociationofInternationalPropertyProfessionalsLimited(byGuarantee),whichhadnetliabilitiesatthetimeofdisposaltotalling£36,232andwasdisposedoffor£nilconsideration.

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

GROUP COMPANY

31. 12. 15(£)

31. 12. 14(£)

31. 12. 15(£)

31. 12. 14(£)

Tradedebtors 31,081 108,235 18,333 78,604

Amountsowedbygroupundertakings – – – 94,120

Otherdebtors 40,649 9,187 40,649 9,187

VAT 46,735 42,385 46,735 36,407

Prepaymentsandaccruedincome 917,467 527,525 850,032 473,159

1,035,932 687,332 955,749 691,477

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

16. LEASING AGREEMENTS

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

GROUP COMPANY

31. 12. 15(£)

31. 12. 14(£)

31. 12. 15(£)

31. 12. 14(£)

Tradedebtors 590,963 145,498 553,706 138,487

Tax 23,150 41,624 7,815 6,711

Socialsecurityandothertaxes 38,755 33,054 38,755 33,054

Othercreditors 110,421 128,739 110,421 128,739

Accrualsanddeferredincome 2,514,561 2,213,996 2,505,085 2,193,950

3,247,850 2,562,911 3,215,782 2,500,941

Non-cancellable operating leases

GROUP COMPANY

31. 12. 15(£)

31. 12. 14(£)

31. 12. 15(£)

31. 12. 14(£)

Withinoneyear 72,679 70,927 72,679 70,927

Betweenoneandfiveyears 79,514 172,624 79,514 172,162

152,193 243,089 152,193 243,089

COMPANY

31. 12. 15(£)

31. 12. 14(£)

Amountsowedtogroupundertakings 2,221,811 2,079,684







17. RESERVES

GROUP

RETAINED EARNINGS

(£)

OTHER RESERVES

(£)

TOTALS(£)

At1January2015 4,195,953 60,000 4,255,953

Deficitfortheyear (214,219) – (214,219)

At31December2015 3,981,734 60,000 4,041,734

COMPANY

RETAINED EARNINGS

(£)

OTHER RESERVES

(£)

TOTALS(£)

At1January2015 2,100,779 60,000 2,160,779

Deficitfortheyear (399,606) – (399,606)

At31December2015 1,701,173 60,000 1,761,173

18. PENSION COMMITMENTS Thegroupoperatesadefinedcontributionpensionschemeforitsemployees.Theassetsoftheschemeareheldseparatelyfromthoseofthegroupinanindependentlyadministeredfund.Thepensioncostchargerepresentscontributionspayablebythegrouptothefund.Theamountrecognisedasanexpenseintheperiodwas£57,553(2014:£39,887).

19. RELATED PARTY DISCLOSURES Duringtheyearthegrouppurchasednon-directorshipconsultingservicesfromTollerConsultingtotalling£12,070(2014:£nil),anunincorporatedentitycontrolledbyAJReed,director.AttheyearendNationalFederationofPropertyProfessionalsowedAJReed£4,794(2014:£nil)andisincludedwithintradecreditors.

Duringtheyear,atotalofkeymanagementpersonnelcompensationof£333,100waspaid.

20. ULTIMATE CONTROLLING PARTY Thegroupiscontrolledbyitsboardofdirectorsasshowninthedirectors’report.

IncludedwithinOtherreservesare;

General £20,000 (2014:£20,000)Membership £20,000 (2014:£20,000)Maintenance £20,000 (2014:£20,000)



Consolidated trading and profit and loss accountFor the year ended 31 December 2015

Consolidated trading and profit and loss account (continued)


31. 12. 15 31. 12. 14

£ £ £ £

TURNOVER

Membershipfees 2,854,277 2,745,412

Educationandtraining 1,307,630 1,260,729

Publicationsales 170,007 155,149

Seminarsandevents 356,488 326,675

Membershipservices 256,753 189,041

Specialistcommittee 4,301 4,824

4,949,456 4,681,830

COST OF SALES

Eductionandtrainingcosts 863,334 803,763

Costofpublications 196,598 177,496

Seminarandeventcosts 297,256 284,698

Membershipservices 1,619,051 1,342,807

Specialistcommitteecosts 12,076 27,565

2,988,315 2,636,329

GROSS PROFIT 1,961,141 2,045,501

OTHER INCOME

Clientmoneyprotection 851,730 817,992

Depositaccountinterest 39,091 33,751

890,821 851,743

2,851,962 2,897,244

31. 12. 15 31. 12. 14

£ £ £ £

EXPENDITURE

Wagesandsalaries 1,788,069 1,520,753

Socialsecurity 159,383 157,694

Pensions 57,553 39,887

Ratesandwater 141,875 107,388

Insurance 32,554 29,238

Otheradministrativecosts 410,631 310,160

Postandstationery 137,415 95,570

Computeranddevelopmentcosts 40,314 41,928

IrrecoverableVAT 85,897 44,641

Auditors’remuneration 22,500 26,560

Depreciationoftangiblefixedassets

Freeholdproperty 86,926 86,926

Fixturesandfittings 30,390 25,651

2,993,507 2,486,396

(141,545) 410,848

FINANCE COSTS

Bankcharges 26,579 20,808

Carriedforward (168,124) 390,040

Boughtforward (168,124) 390,040

EXCEPTIONAL ITEMS

Lossondisposalofsubsidiary 36,232 –

(204,356) 390,040



Notes Notes


National Federation of Property ProfessionalsArbon House6 Tournament CourtEdgehill DriveWarwickCV34 6LG

T: 0845 250 6001F: 0845 250 6061E: [email protected]

40731_NFoPP - Annual Report 2015-16.indd 44 24/05/2016 16:36

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