THE ROYAL NAAFI

1. THE ROYAL NAAFI 2022-09-13 → present
2. NAVY,ARMY AND AIR FORCE INSTITUTES,(THE) 1920-12-09 → 2022-09-13

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Blick Rothenberg Audit LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“At the time of approving the financial statements, the Directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. The cash position of £13.1m (2024: £13.6m) provides a buffer to any significant impact on trading. The group's forecasts and projections, taking account of a severe but plausible change in trading performance, show that the group should be able to operate within the level of its current facilities. After making enquiries, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the group continues to adopt the going concern basis of accounting in preparing its financial statements.”

Group structure

1. THE ROYAL NAAFI · parent
   1. NAAFI UK Limited 100% · UK
   2. NAAFI Poland Sp.zo.o 100% · Poland
   3. NAAFI Estonia OÜ 100% · Estonia
   4. The Royal NAAFI USA LLC 100% · US
   5. NAAFI Project Management LLC 100% · United Arab Emirates
   6. NAAFI Trading LLC 100% · United Arab Emirates

Significant events

• “2024/25 was an exceptional year of growth for The Royal NAAFI.”
• “During 2024/25, The Royal NAAFI continued to deliver a variety of deployed services across the UK in support of the MOD on exercise and firm base commitments.”
• “The triennial valuation of the NAAFI Pension Fund took place on 31st December 2023, and this showed a £32.4m surplus and that the pension fund was 109% funded on a technical basis.”
• “For 2025/26, working alongside the MOD, we have updated our strategy which will take us through to 2030 and which is underpinned by Five Pillars: Service Quality, Value for Money, Sustainability, Giving Back and People.”
• “During 2024/25 we made the decision to exit four out of five UK high street coffee shops due to both the changing demands of Defence, which remains our priority, and the challenging trading environment.”
• “Our new operation in the USA began operations late in 2024/25 with a duty-free retail store serving UK and NATO personnel in Norfolk, Virginia.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

2

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +154.7%

  £44,202,000 → £112,570,000

• Cash

  -3.2%

  £13,615,000 → £13,181,000

• Net assets

  +8.3%

  £73,846,000 → £79,958,000

• Employees

  +15.4%

  371 → 428

• Operating profit

  +129.8%

  -£1,547,000 → £461,000

• Profit before tax

  +58.5%

  £1,791,000 → £2,839,000

• Wages

  +25.3%

  £12,599,000 → £15,791,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers