REGISTERED NUMBER: 00723801 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

Aluminium Federation Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G R Ashmead

P M Dines

G Mothersole

S C Barron

T Giddings

A J Finlay

C H Keen

T J Witkowski

W A Giles

P A Glover

M A Allen

G Trilling

E R Swann

A H J Williams

SECRETARY:

Attwoods Accountants Ltd

REGISTERED OFFICE:

Bragborough Hall Business Centre

Welton Road

Braunston

Daventry

Northamptonshire

NN11 7JG

REGISTERED NUMBER:

00723801 (England and Wales)

SENIOR STATUTORY AUDITOR:

Sarah Morley BA (Hons) ACA

AUDITORS:

Kendall Wadley LLP

Chartered Accountants

Merevale House

27 Sansome Walk

Worcester

Worcestershire

WR1 1NU

FIXED ASSETS

Tangible assets

4

15,927

14,694

CURRENT ASSETS

Stocks

2,542

2,628

Debtors

5

63,595

138,389

Cash at bank and in hand

241,019

190,758

307,156

331,775

CREDITORS

Amounts falling due within one year

6

89,134

159,339

NET CURRENT ASSETS

218,022

172,436

TOTAL ASSETS LESS CURRENT LIABILITIES

233,949

187,130

PROVISIONS FOR LIABILITIES

7

283

-

NET ASSETS

233,666

187,130

RESERVES

Non-distributable reserve

8

9,720

9,720

Income and expenditure account

8

223,946

177,410

233,666

187,130

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 17 June 2025 and were signed on its behalf by:

M A Allen - Director

G R Ashmead - 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.

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.

Office equipment

-

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

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.

Tangible assets

Diane De Gabies Statue asset has been valued on an indemnity cover basis rather than at historic cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Diane De

Office

Gabies

equipment

Statue

Totals

£

£

£

COST

At 1 January 2024

27,824

12,000

39,824

Additions

2,763

-

2,763

Disposals

(20,938

)

-

(20,938

)

At 31 December 2024

9,649

12,000

21,649

DEPRECIATION

At 1 January 2024

25,130

-

25,130

Charge for year

1,530

-

1,530

Eliminated on disposal

(20,938

)

-

(20,938

)

At 31 December 2024

5,722

-

5,722

NET BOOK VALUE

At 31 December 2024

3,927

12,000

15,927

At 31 December 2023

2,694

12,000

14,694

Diane De Gabies Statue asset has been valued on an indemnity cover basis by directors.

5.

DEBTORS

31.12.24

31.12.23

£

£

Amounts falling due within one year:

Trade debtors

11,866

44,412

Other debtors

13,689

40,669

VAT

23,409

20,588

Deferred tax asset

-

9,070

Accrued Income

-

330

Prepayments

12,131

16,575

61,095

131,644

Amounts falling due after more than one year:

Other debtors

2,500

6,745

Aggregate amounts

63,595

138,389

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

7,889

48,402

Social security and other taxes

6,629

7,326

Other creditors

56,677

56,658

Deferred income

12,520

43,452

Accrued expenses

5,419

3,501

89,134

159,339

7.	PROVISIONS FOR LIABILITIES

31.12.24

£

Deferred tax

Other timing differences

(79

)

Trading losses

(1,172

)

Capital allowances in advance of depreciation

(746

)

Revaluations

2,280

283

Deferred

tax

£

Balance at 1 January 2024

(9,070

)

Accelerated capital allowances

472

Losses

10,139

Pension timing differences

(1,258

)

Balance at 31 December 2024

283

8.

RESERVES

Income

and

expenditure

Non-distributable

account

reserve

Totals

£

£

£

At 1 January 2024

177,410

9,720

187,130

Surplus for the year

46,536

46,536

At 31 December 2024

223,946

9,720

233,666

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Sarah Morley BA (Hons) ACA (Senior Statutory Auditor)

for and on behalf of Kendall Wadley LLP

10.	EMPLOYEE BENEFIT OBLIGATIONS

Defined benefit scheme

The company operates a defined benefit pension scheme which has been closed to new members since July 2004.

The Trustees of the Scheme have consulted with the Scheme Actuary and latest Triennial Valuation Report date 1 January 2023, based on prescribed assumptions, indicate that there was a surplus within the scheme of £214,000 (previously a deficit of £5,000 as at 1 January 2020).

Based on the 2020 valuation the agreed Schedule Of Contributions stated that contributions of £470 each month (in respect of an allowance towards Aviva charges and the PPF levy) were due from January 2023 to January 2026. All necessary contributions that were due in 2023 have been paid.

The latest contribution schedule from the 2023 valuation, agreed in March 2024, states that contributions of £470 each month (in respect of an allowance towards Aviva charges and the PPF levy) are due from April 2024 to April 2029.

The Investment assets of the scheme comprise of funds invested in a fully insured Deposit Administration Contract with AVIVA (previously Friends Life Services & AXA Sunlife). Contributions are held in an accumulation account which provides retirement benefits through the build up of contributions.

Pensions payable to retired members may be secured by annuities purchased on their retirement date from AVIVA and only the single premium cost of purchasing such benefits is reflected in the schemes accounts. Alternatively, pensions may be paid on a monthly basis out of the scheme, in which case the pension cost is reflected in the years accounts.

Lump sum, widows and dependants death-in-service benefits are secured by policies of assurance under-written by AVIVA. The premiums for these benefits are paid by the employer. Following the closure of the scheme on 31 July 2004 no policies of assurance are required as there are no longer any active members.

Transfer values in respect of individual members are accounted for in the period in which they are paid or received.

Pensions paid by the principal employer to pensioners on behalf of the scheme are reflected as contributions to the scheme and benefits payable. To the extent that such payments result in contributions being paid in excess of that required by the Schedule of Contribution the excess is shown as contributions received in advance.

Defined contribution scheme

The company operates a defined contribution pension scheme, the assets of which are held independently of the company. Contributions to this scheme are charged on a basis of a constant percentage of earnings.

The cost of payments in to defined contribution schemes in 2024 was £29,411 (2023: £31,965).

11.	OTHER FINANCIAL COMMITMENTS

The company has future operating lease commitments of £12,092 (2023 £17,893).

12.	RELATED PARTY DISCLOSURES

At the year end the following bank balances were held on behalf of associates; Qualanod: £4,706 (2023: £3,930) Qualicoat: £47,010 (2023: £42,767).

13.	LIMITED BY GUARANTEE

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