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REGISTERED NUMBER: 11032135 (England and Wales)















ALUMINIUM FIRST LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2023






ALUMINIUM FIRST LIMITED (REGISTERED NUMBER: 11032135)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ALUMINIUM FIRST LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Francisco Quinta Marino





REGISTERED OFFICE: Ogden Road
Wheatley Hills
Doncaster
South Yorkshire
DN2 4SG





REGISTERED NUMBER: 11032135 (England and Wales)





ACCOUNTANTS: Smith Craven
Sidings House
Sidings Court
Lakeside
Doncaster
South Yorkshire
DN4 5NU

ALUMINIUM FIRST LIMITED (REGISTERED NUMBER: 11032135)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 200 180
Investment property 5 480,000 480,000
480,200 480,180

CURRENT ASSETS
Debtors 6 - 1,000
Cash at bank 118,561 144,508
118,561 145,508
CREDITORS
Amounts falling due within one year 7 113,950 149,368
NET CURRENT ASSETS/(LIABILITIES) 4,611 (3,860 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

484,811

476,320

PROVISIONS FOR LIABILITIES 9,788 9,788
NET ASSETS 475,023 466,532

CAPITAL AND RESERVES
Called up share capital 200 200
Revaluation reserve 8 41,726 41,726
Retained earnings 433,097 424,606
475,023 466,532

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 profit or loss 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.

ALUMINIUM FIRST LIMITED (REGISTERED NUMBER: 11032135)

BALANCE SHEET - continued
31 DECEMBER 2023


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 director and authorised for issue on 11 September 2024 and were signed by:





Francisco Quinta Marino - Director


ALUMINIUM FIRST LIMITED (REGISTERED NUMBER: 11032135)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Aluminium First Limited is a private company, limited by shares , 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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern
The accounts have been prepared on the going concern basis. The director consider the basis of preparation to be appropriate based on the continuing financial support of its controlling party, Vicano Inversiones SL.

Preparation of consolidated financial statements
The financial statements contain information about Aluminium First Limited as an individual Company and do not contain consolidated financial information as the parent of a group. The Company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents the fair value of gross rents received or receivable net of value added tax in the period to which they relate. Rents paid in advance are recognised in deferred income.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss and transferred to the revaluation reserve.

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.


ALUMINIUM FIRST LIMITED (REGISTERED NUMBER: 11032135)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. FIXED ASSET INVESTMENTS
Investment
in
subsidiary
£   
COST
At 1 January 2023 180
Additions 20
At 31 December 2023 200
NET BOOK VALUE
At 31 December 2023 200
At 31 December 2022 180

The Company's investments at the Balance Sheet date in the share capital of companies include the following:

Prime QM Limited
Registered office: Ogden Road, Wheatley Hills, Doncaster DN2 45G
Nature of business: Management Consultancy
%
Class of shares: holding
Ordinary shares 100.00

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 480,000
NET BOOK VALUE
At 31 December 2023 480,000
At 31 December 2022 480,000

ALUMINIUM FIRST LIMITED (REGISTERED NUMBER: 11032135)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. INVESTMENT PROPERTY - continued

Investment Properties are stated at fair value. The Director considers the fair value brought forward, not to be materially different at the year end date.

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2022 51,514
Cost 428,486
480,000

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 428,486 428,486

Investment property was valued on an open market basis on 31 December 2022 by the directors. .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 1,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 109,793 147,737
Taxation and social security 1,933 -
Other creditors 2,224 1,631
113,950 149,368

8. RESERVES
Revaluation
reserve
£   
At 1 January 2023
and 31 December 2023 41,726

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Prime QM Limited
A subsidiary undertaking of Aluminium First Limited.
The balance owing to the company at the balance sheet date is £0 (2022: £1,000).

ALUMINIUM FIRST LIMITED (REGISTERED NUMBER: 11032135)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


10. ULTIMATE CONTROLLING PARTY

The immediate parent undertaking is Vicano Inversiones SL, a Company incorporated in Spain.

The ultimate controlling party is Mr Francisco Quinta Marino by virtue of his controlling interest in Vicano Inversiones SL.