Aluminium Federation Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 00723801 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2022

for

Aluminium Federation Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C S Davies

G R Ashmead

S D MacVicker

A M Doran

P M Dines

G Mothersole

Dr R C Zante

S E Melia

S C Barron

R C Ablett

T Giddings

A J Finlay

C H Keen

T J Witkowski

T W Uppington

Mrs W A Giles

SECRETARY:

Attwoods Accountants Ltd

REGISTERED OFFICE:

Bragborough Hall Business Centre

Welton Road

Braunston

Daventry

Northamptonshire

NN11 7JG

REGISTERED NUMBER:

00723801 (England and Wales)

ACCOUNTANTS:

Attwoods

Chartered Certified Accountants

90-92 High Street

Evesham

Worcestershire

WR11 4EU

FIXED ASSETS

Tangible assets

4

18,565

21,510

CURRENT ASSETS

Stocks

2,652

2,804

Debtors

5

44,090

43,645

Cash at bank and in hand

321,703

316,915

368,445

363,364

CREDITORS

Amounts falling due within one year

6

158,924

170,650

NET CURRENT ASSETS

209,521

192,714

TOTAL ASSETS LESS CURRENT LIABILITIES

228,086

214,224

RESERVES

Non-distributable reserve

8

9,720

9,720

Income and expenditure account

8

218,366

204,504

228,086

214,224

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2023 and were signed on its behalf by:

P M Dines - Director

S C Barron - Director

1.	STATUTORY INFORMATION

Aluminium Federation Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention modified to include the Diane De Gabies Statue (tangible fixed assets) at valuation.

The Directors have not complied with the requirements on disclosure of defined benefit schemes as required by FRS 102, section 28, and are of the opinion that the costs of obtaining the necessary information far outweigh any potential benefits of disclosure.

Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant, as described in the tangible fixed asset note. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover

Turnover is measured at fair value of consideration received or receivable, excluding any discounts, rebates, value added tax and other sales tax. Member contributions are invoiced on an annual basis and are recognised over the period of membership. Service fees are recognised when the service is provided to the customer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

20% on cost

Office equipment

-

25% on cost, 25% on reducing balance and 20% on cost

Fixtures and fittings

-

20% on reducing balance and 10% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates both a fully defined benefit and defined contribution pension schemes, the assets of which are held independently of the company. Contributions to the defined benefit scheme are charged to the profit and loss account in accordance with actuarial advice and contributions to the defined contribution scheme are charged on the basis of a constant percentage of earnings.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2021 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Diane De

to

Office

and

Gabies

property

equipment

fittings

Statue

Totals

£

£

£

£

£

COST

At 1 January 2022

2,990

25,214

10,337

12,000

50,541

Additions

-

1,190

-

-

1,190

At 31 December 2022

2,990

26,404

10,337

12,000

51,731

DEPRECIATION

At 1 January 2022

1,794

21,443

5,794

-

29,031

Charge for year

598

2,722

815

-

4,135

At 31 December 2022

2,392

24,165

6,609

-

33,166

NET BOOK VALUE

At 31 December 2022

598

2,239

3,728

12,000

18,565

At 31 December 2021

1,196

3,771

4,543

12,000

21,510

Diane De Gabies Statue asset was valued on an indemnity cover basis in September 2018 by directors.

5.

DEBTORS

31.12.22

31.12.21

£

£

Amounts falling due within one year:

Trade debtors

15,676

10,926

Other debtors

2,450

45

VAT

13,460

12,535

Deferred tax asset

245

3,642

Accrued Income

-

3,827

Prepayments

8,059

8,470

39,890

39,445

Amounts falling due after more than one year:

Other debtors

4,200

4,200

Aggregate amounts

44,090

43,645

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Trade creditors

47,478

28,492

Social security and other taxes

8,366

11,021

Other creditors

84,150

102,207

Deferred income

7,456

12,955

Accrued expenses

11,474

15,975

158,924

170,650

7.	DEFERRED TAX

£

Balance at 1 January 2022

(3,642

)

ACA's

(429

)

Losses

4,029

Pension timing differences

(203

)

Balance at 31 December 2022

(245

)

Deferred tax carried forward is split as follows:

£

Accelerated capital allowances

(2,965

)

Tax losses carried forward

1,055

Other timing differences

(615

)

Deferred tax on revaluations

2,280

Total

(245

)

8.

RESERVES

Income

and

expenditure

Non-distributable

account

reserve

Totals

£

£

£

At 1 January 2022

204,504

9,720

214,224

Surplus for the year

13,862

13,862

At 31 December 2022

218,366

9,720

228,086

9.	OTHER FINANCIAL COMMITMENTS

The company has future operating lease commitments of £27,404 (2021 £46,748).

10.	RELATED PARTY DISCLOSURES

At the year end the following bank balances were held on behalf of associates; Qualanod: £3,863 (2021: £3,027) Qualicoat: £40,917 (2021: £47,254).

11.	LIMITED BY GUARANTEE

The company is limited by guarantee and does not have any share capital.