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Company No: 13204618 (England and Wales)

ALUMA CAPITAL LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2024
Pages for filing with the registrar

ALUMA CAPITAL LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

ALUMA CAPITAL LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 July 2024
ALUMA CAPITAL LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 3,482,599 2,845,000
Investments 4 4,437,500 4,437,500
7,920,099 7,282,500
Current assets
Debtors 5 784,991 439,713
Cash at bank and in hand 21,924 33,071
806,915 472,784
Creditors: amounts falling due within one year 6 ( 5,550,642) ( 4,832,795)
Net current liabilities (4,743,727) (4,360,011)
Total assets less current liabilities 3,176,372 2,922,489
Net assets 3,176,372 2,922,489
Capital and reserves
Called-up share capital 7 2 2
Share premium account 2,467,963 2,467,963
Profit and loss account 708,407 454,524
Total shareholder's funds 3,176,372 2,922,489

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Aluma Capital Limited (registered number: 13204618) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

S M Leighton
Director

28 April 2025

ALUMA CAPITAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
ALUMA CAPITAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Aluma Capital Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 30 St George Street, London, W1S 2FH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

At 31 July 2024 the company had net current liabilities amounting to £4,743,727. The ultimate beneficial owner, D Farook, has undertaken to provide such financial support as is required to ensure that the company is able to meet its working capital requirements for the foreseeable future.

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 0 0

3. Investment property

Investment property
£
Valuation
As at 01 August 2023 2,845,000
Additions 637,599
As at 31 July 2024 3,482,599

The investment property was valued by the directors on 31 July 2024 on an open market basis by reference to market evidence of transaction prices of similar properties.

4. Fixed asset investments

Investments in associates Total
£ £
Cost or valuation before impairment
At 01 August 2023 4,437,500 4,437,500
At 31 July 2024 4,437,500 4,437,500
Carrying value at 31 July 2024 4,437,500 4,437,500
Carrying value at 31 July 2023 4,437,500 4,437,500

5. Debtors

2024 2023
£ £
Other debtors 784,991 439,713

6. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 84,600 63,600
Other creditors 5,466,042 4,769,195
5,550,642 4,832,795

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

8. Financial commitments

Other financial commitments

During the prior year the company entered into a joint guarantee with two other entities in respect of the secured liabilities of Regal GNLP Limited, a company which Aluma Capital Limited holds an investment in. The charge is over all present and future assets of Aluma Capital Limited.

9. Related party transactions

Transactions with the entity's directors

At the year end, £4,813,995 (2023: £4,749,995) was due to D Y Farook, a director and the ultimate beneficial owner. The loan was interest free and repayable on demand.