Well so here is a little update:
I have had the beer at about 73-74F now for about 4 days.
Just took the first gravity reading today, and the hydrometer indicates aprox. 1.004. According to the recipe, the OG of this extract kit is 1.041. (I know this is not as good as having taken my own OG reading, but that is all I've got).
So at 1.041 - 1.004 = 0.037
0.037 / 0.776 = 4.76% ABV?
That alcohol percentage sounds about right for this beer. I will take another reading in two days, and if it has remained the same, I will bottle.
There is still a few clouds of foam / Krausen on the top of the beer at the moment (not much). I guess this is because I have it at the higher temperature at the moment?