Speedbird,
From what I have heard on the forum, most get through on the second attempt, so don't be disheartened just think of what to improve and reapply next year. It should say on the nats site the date which you applied, so give it 12 months and go for it again. I'm sure with the knowledge that you will have gained from your first application, you will be in much better form to reapply.
Good Luck,
Ian Dickson