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REGISTERED NUMBER: 10239345 (England and Wales)












KINCAID1875 LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






KINCAID1875 LIMITED (REGISTERED NUMBER: 10239345)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KINCAID1875 LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTOR: Mr R Kincaid





REGISTERED OFFICE: 28 Parklands Gardens
Walsall
WS1 2NW





REGISTERED NUMBER: 10239345 (England and Wales)





ACCOUNTANTS: Wallace Crooke Walsall Limited
Chartered Accountants
Wallace House
20 Birmingham Road
Walsall
West Midlands
WS1 2LT

KINCAID1875 LIMITED (REGISTERED NUMBER: 10239345)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 19,531 25,469
19,531 25,469

CURRENT ASSETS
Stocks 4,125 4,200
Debtors 7 14,110 17,607
Cash at bank 21,767 17,077
40,002 38,884
CREDITORS
Amounts falling due within one year 8 34,069 33,528
NET CURRENT ASSETS 5,933 5,356
TOTAL ASSETS LESS CURRENT
LIABILITIES

25,464

30,825

CREDITORS
Amounts falling due after more than one
year

9

22,496

24,298
NET ASSETS 2,968 6,527

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 2,967 6,526
SHAREHOLDERS' FUNDS 2,968 6,527

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

KINCAID1875 LIMITED (REGISTERED NUMBER: 10239345)

BALANCE SHEET - continued
31 DECEMBER 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 February 2025 and were signed by:





Mr R Kincaid - Director


KINCAID1875 LIMITED (REGISTERED NUMBER: 10239345)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Kincaid1875 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.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The company's financial statements are individual entity financial statements.

The company's financial statements are presented in Sterling and all values are rounded to the nearest pound.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Equipment - 20% on reducing balance
Motor vehicles - 25% 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 Statement of Income and Retained Earnings, 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.


KINCAID1875 LIMITED (REGISTERED NUMBER: 10239345)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

3. 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 4,000
AMORTISATION
At 1 January 2024
and 31 December 2024 4,000
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

KINCAID1875 LIMITED (REGISTERED NUMBER: 10239345)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

6. TANGIBLE FIXED ASSETS
Motor Computer
Equipment vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2024 15,697 28,498 2,095 46,290
Additions 411 - - 411
At 31 December 2024 16,108 28,498 2,095 46,701
DEPRECIATION
At 1 January 2024 11,737 7,125 1,959 20,821
Charge for year 874 5,343 132 6,349
At 31 December 2024 12,611 12,468 2,091 27,170
NET BOOK VALUE
At 31 December 2024 3,497 16,030 4 19,531
At 31 December 2023 3,960 21,373 136 25,469

Fixed assets, included in the above, which are held under finance leases are as follows:
Motor
vehicles
£   
COST
At 1 January 2024
and 31 December 2024 28,498
DEPRECIATION
At 1 January 2024 7,125
Charge for year 5,343
At 31 December 2024 12,468
NET BOOK VALUE
At 31 December 2024 16,030
At 31 December 2023 21,373

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 12,335 15,832
Other debtors 1,775 1,775
14,110 17,607

KINCAID1875 LIMITED (REGISTERED NUMBER: 10239345)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,705 3,200
Finance leases 5,516 5,516
Trade creditors 1,660 -
Taxation and social security 13,367 14,207
Other creditors 8,821 10,605
34,069 33,528

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 8,247 4,533
Finance leases 14,249 19,765
22,496 24,298

Amounts falling due in more than five years:

Repayable by instalments
Finance leases 8,733 -

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary 1 1 1