The first reading is the first stage of a Bill's passage through Parliament. Over time this has become a formality. It now consists of the short title of the Bill being read out in the Chamber by the Clerk. It is then given a date for second reading and an order made for it to be printed, making it available to all Members.
Further information on this subject can be found from the following links.
About Parliament: Bill stages
About Parliament: Passage of a Bill
Related glossary term: Bills