KAMICO LIMITED


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)

Notes to the Financial Statements
for the year ended 31 December 2025

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.

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 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.

	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

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.

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

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

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 buildings	5
	Vehicles	4

	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


		2025		2024
	Average number of employees during the year	10		10

3.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 January 25	3,677	3,677
At 31 December 25	3,677	3,677
Amortisation and impairment
At 01 January 25	3,677	3,677
At 31 December 25	3,677	3,677
Net book value
At 31 December 25	-	-
At 31 December 24	-	-

4.	Tangible fixed assets

	Land & buildings	Vehicles	Fixtures & fittings	Total
	£	£	£	£
Cost or valuation
At 01 January 25	18,588	62,954	150,739	232,281
Additions	-	38,260	8,106	46,366
At 31 December 25	18,588	101,214	158,845	278,647
Depreciation and impairment
At 01 January 25	17,944	28,579	125,288	171,811
Charge for year	515	15,921	5,618	22,054
At 31 December 25	18,459	44,500	130,906	193,865
Net book value
At 31 December 25	129	56,714	27,939	84,782
At 31 December 24	644	34,375	25,451	60,470

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	401,366	417,316
Other debtors	72,851	39,820
Prepayments and accrued income	6,897	5,803
Total	481,114	462,939


	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

	2025	2024
	£	£
Trade creditors / trade payables	161,890	94,027
Taxation and social security	484,786	289,634
Finance lease and HP contracts	11,762	3,151
Other creditors	243,528	50,907
Accrued liabilities and deferred income	8,393	32,022
Total	910,359	469,741


	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 - £11,762 (2024 - £3,151) Other creditors £1,170 (2024 - £Nil)

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 - £11,762 (2024 - £3,151)
Other creditors £1,170 (2024 - £Nil)

7.	Creditors: amounts due after one year

	2025	2024
	£	£
Other creditors	15,401	4,201
Total	15,401	4,201


	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 - £15,401 (2024 - £4,201)

8.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	12,100	4,400
Total	12,100	4,400

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 £147,064 (2024 - £65,102).

10.	Other commitments
	At 31 December 2025, the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods: Not later than 1 year £52,875 (2024 - £46,323) Later than 1 year and not later than 5 years £79,932 (2024 - £126,804)

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 £239,021 (2024 - £48,234). This amount is interest free and repayable on demand.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	4		84,782		60,470
			84,782		60,470
Current assets
Stocks		344,488		326,202
Debtors	5	481,114		462,939
Cash at bank and on hand		1,002,599		562,999
		1,828,201		1,352,140
Creditors amounts falling due within one year	6	(910,359)		(469,741)
Net current assets (liabilities)			917,842		882,399
Total assets less current liabilities			1,002,624		942,869
Creditors amounts falling due after one year	7		(15,401)		(4,201)
Provisions for liabilities	8		(12,100)		(4,400)
Net assets			975,123		934,268
Capital and reserves
Called up share capital			100		100
Profit and loss account			975,023		934,168
Shareholders' funds			975,123		934,268