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KAMICO LIMITED

Registered Number
04403754
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

KAMICO LIMITED
Company Information
for the year from 1 January 2024 to 31 December 2024

Directors

WALSH, Andrew Michael
WALSH, Susan

Company Secretary

WALSH, Susan

Registered Address

Weavers Fold 9 Mill Field Road
Cottingley Business Park, Cottingley
Bingley
BD16 1PY

Registered Number

04403754 (England and Wales)
KAMICO LIMITED
Statement of Financial Position
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3-72
Tangible assets460,47042,715
60,47042,787
Current assets
Stocks326,202160,031
Debtors5462,939727,688
Cash at bank and on hand562,999463,664
1,352,1401,351,383
Creditors amounts falling due within one year6(469,741)(573,328)
Net current assets (liabilities)882,399778,055
Total assets less current liabilities942,869820,842
Creditors amounts falling due after one year7(4,201)(14,808)
Provisions for liabilities8(4,400)-
Net assets934,268806,034
Capital and reserves
Called up share capital100100
Profit and loss account934,168805,934
Shareholders' funds934,268806,034
The financial statements were approved and authorised for issue by the Board of Directors on 17 April 2025, and are signed on its behalf by:
WALSH, Susan
Director
Registered Company No. 04403754
KAMICO LIMITED
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The directors believe that the company has adequate resources to continue in operational existence for the foreseeable future. The company continues to have the support of the directors and shareholders and therefore continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the Income Statement on a straight-line basis over the period of the lease. Where the company is a lessor, rental income from operating leases is credited to the Income Statement on a straight-line basis over the lease term.
Employee benefits
Pensions: The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds. Employee benefit trusts: The company has purchased trusts for the benefit of employees and certain of their dependants. Monies held in this trust are held by the independent trustees and managed at their discretion. Where the company retains future economic benefit from, and has de facto control of the assets and liabilities of the trust, they are accounted for as assets and liabilities of the company until the earlier of the date that an allocation of trust funds to employees in respect of past services is declared and the date that assets of the trust vest in identified individuals. Where monies held in a trust are determined by the company on the basis of the employees' past services to the business and the company can obtain no future economic benefit from these monies, such monies, whether in the trusts or accrued for by the company are charged to the profit and loss account in the period to which they relate. Employer-Financed Retirement Benefit Scheme (EFRBS) The company has established trusts for the benefit of employees and persons connected with them. Monies held in these trusts are held by independent trustees and managed at their discretion. The trustees are empowered to provide both retirement and other employee benefits. Where the company retains future economic benefit from, and has de facto control of the assets and liabilities of the trust, they are accounted for as assets and liabilities of the company until the earlier of the date that an allocation of trust funds to employees in respect of past services is declared and the date that assets of the trust vest in identified individuals. Where monies held in a trust are determined by the company on the basis of the employees' past services to the business and the company can obtain no future economic benefit from these monies, such monies, whether in the trusts or accrued for by the company are charged to the profit and loss account in the period to which they relate. Where monies held in a trust are determined by the company on the basis of the employees' past services to the business and are payable after completion of the employment, such monies are charged to the profit and loss account in the period during which services are rendered to employees.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years. The useful lives range as follows: Trademarks - over the useful economic life of the trademark
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows: Fixtures & Fittings - between 15% and 33% straight line

Straight line (years)
Land and buildings5
Vehicles4
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement.
Financial instruments
The company enters into basic financial instrument 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 related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year88
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 January 243,6773,677
At 31 December 243,6773,677
Amortisation and impairment
At 01 January 243,6053,605
Charge for year7272
At 31 December 243,6773,677
Net book value
At 31 December 24--
At 31 December 237272
4.Tangible fixed assets

Land & buildings

Vehicles

Fixtures & fittings

Total

££££
Cost or valuation
At 01 January 2418,58869,259124,005211,852
Additions-38,47526,73465,209
Disposals-(44,780)-(44,780)
At 31 December 2418,58862,954150,739232,281
Depreciation and impairment
At 01 January 2417,42929,658122,050169,137
Charge for year51511,0483,23814,801
On disposals-(12,127)-(12,127)
At 31 December 2417,94428,579125,288171,811
Net book value
At 31 December 2464434,37525,45160,470
At 31 December 231,15939,6011,95542,715
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables417,316698,037
Other debtors39,82024,706
Prepayments and accrued income5,8034,945
Total462,939727,688
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables94,027122,738
Bank borrowings and overdrafts-10,141
Taxation and social security289,634199,324
Finance lease and HP contracts3,151-
Other creditors50,907179,024
Accrued liabilities and deferred income32,02262,101
Total469,741573,328
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. The following liabilities disclosed under creditors falling due within one year are secured by the company:- Obligations under finance lease and hire purchase contracts - £3,151 (2023 - £Nil) Other creditors £Nil (2023 - £41,083)
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts-14,808
Other creditors4,201-
Total4,20114,808
The following liabilities disclosed under creditors falling due after more than one year are secured by the company:- Obligations under finance lease and hire purchase contracts - £4,201 (2023 - £Nil)
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)4,400-
Total4,400-
9.Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £65,102 (2023 - £4,094).
10.Other commitments
At 31 December 2024, the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods: Not later than 1 year £46,323 (2023 - £45,573) Later than 1 year and not later than 5 years £126,804 (2023 - £173,127)
11.Guarantees provided on behalf of directors
The company has appointed assets to an Employer Financed Retirement Benefit Scheme. The company is liable for PAYE/NIC that may arise on awards made by the trustees and this has been recognised in the financial statements within other creditors.
12.Related party transactions
Included within other creditors, is an amount due to S Walsh and A M Walsh of £48,234 (2023 - £97,471). This amount is interest free and repayable on demand.