Background: for various reasons we use Excel to draft our financial statements.
There are a lot of paragraphs that refer to numbers within the financial statements. Easy to deal with by concatenating the text with the references to the numbers.
I use the TEXT formula to make sure that it is formatted properly.

Problem: the TEXT formula shows the thousand seperator when it is less than a thousand.
Example: At year end the entity has an tax loss of R ,500 million (2019: R ,600 million).
The formula that I use is:
Formula: copy to clipboard 
="At year end the entity has an tax loss of "&TEXT(Q94,TextFormat)&RoundingText&" ("&PriorYear&": "&TEXT(R94,TextFormat)&RoundingText&")."

where TextFormat is a named range, which refers to R #,##0 and RoundingText refers to million.

I use named ranges since there are financial statements that have different rounding requirements and it is quicker to change one cell that a bunch of formulas.

Is there a way to use the named ranges in the TEXT formula without it causing a problem with the thousand seperator short of defining another named range for when the amount is less than a thousand?