IRIS Accounts Production v25.1.3.33 04297480 Board of Directors 1.11.23 31.10.24 31.10.24 Medium entities waste management, including the recycling and sale of recovered products, portable toilet hire and sanitation services. true true false true true false false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh042974802023-10-31042974802024-10-31042974802023-11-012024-10-31042974802022-10-31042974802022-11-012023-10-31042974802023-10-3104297480ns15:EnglandWales2023-11-012024-10-3104297480ns14:PoundSterling2023-11-012024-10-3104297480ns10:Director12023-11-012024-10-3104297480ns10:PrivateLimitedCompanyLtd2023-11-012024-10-3104297480ns10:MediumEntities2023-11-012024-10-3104297480ns10:Audited2023-11-012024-10-3104297480ns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-11-012024-10-3104297480ns10:Medium-sizedCompaniesRegimeForAccounts2023-11-012024-10-3104297480ns10:FullAccounts2023-11-012024-10-310429748012023-11-012024-10-3104297480ns10:OrdinaryShareClass12023-11-012024-10-3104297480ns10:Director22023-11-012024-10-3104297480ns10:CompanySecretary12023-11-012024-10-3104297480ns10:RegisteredOffice2023-11-012024-10-3104297480ns5:RetainedEarningsAccumulatedLosses2023-10-3104297480ns5:RetainedEarningsAccumulatedLosses2022-10-3104297480ns5:RetainedEarningsAccumulatedLosses2023-11-012024-10-3104297480ns5:RetainedEarningsAccumulatedLosses2022-11-012023-10-3104297480ns5:RetainedEarningsAccumulatedLosses2024-10-3104297480ns5:RetainedEarningsAccumulatedLosses2023-10-3104297480ns5:CurrentFinancialInstruments2024-10-3104297480ns5:CurrentFinancialInstruments2023-10-3104297480ns5:Non-currentFinancialInstruments2024-10-3104297480ns5:Non-currentFinancialInstruments2023-10-3104297480ns5:ShareCapital2024-10-3104297480ns5:ShareCapital2023-10-310429748012023-11-012024-10-3104297480ns5:IntangibleAssetsOtherThanGoodwill2023-11-012024-10-3104297480ns5:ReportableOperatingSegment12023-11-012024-10-3104297480ns5:ReportableOperatingSegment12022-11-012023-10-3104297480ns5:ReportableOperatingSegment22023-11-012024-10-3104297480ns5:ReportableOperatingSegment22022-11-012023-10-3104297480ns5:ReportableOperatingSegment32023-11-012024-10-3104297480ns5:ReportableOperatingSegment32022-11-012023-10-3104297480ns5:ReportableOperatingSegment42023-11-012024-10-3104297480ns5:ReportableOperatingSegment42022-11-012023-10-3104297480ns5:TotalReportableOperatingSegmentsIncludingAnyUnallocatedAmount2023-11-012024-10-3104297480ns5:TotalReportableOperatingSegmentsIncludingAnyUnallocatedAmount2022-11-012023-10-3104297480ns5:HirePurchaseContracts2023-11-012024-10-3104297480ns5:HirePurchaseContracts2022-11-012023-10-3104297480132023-11-012024-10-3104297480132022-11-012023-10-3104297480ns10:OrdinaryShareClass12022-11-012023-10-3104297480ns5:PatentsTrademarksLicencesConcessionsSimilar2023-10-3104297480ns5:PatentsTrademarksLicencesConcessionsSimilar2024-10-3104297480ns5:PatentsTrademarksLicencesConcessionsSimilar2023-10-3104297480ns5:LeaseholdImprovements2023-10-3104297480ns5:PlantMachinery2023-10-3104297480ns5:FurnitureFittings2023-10-3104297480ns5:MotorVehicles2023-10-3104297480ns5:LeaseholdImprovements2023-11-012024-10-3104297480ns5:PlantMachinery2023-11-012024-10-3104297480ns5:FurnitureFittings2023-11-012024-10-3104297480ns5:MotorVehicles2023-11-012024-10-3104297480ns5:LeaseholdImprovements2024-10-3104297480ns5:PlantMachinery2024-10-3104297480ns5:FurnitureFittings2024-10-3104297480ns5:MotorVehicles2024-10-3104297480ns5:LeaseholdImprovements2023-10-3104297480ns5:PlantMachinery2023-10-3104297480ns5:FurnitureFittings2023-10-3104297480ns5:MotorVehicles2023-10-3104297480ns5:LeasedAssetsHeldAsLessee2023-11-012024-10-3104297480ns5:CostValuation2023-10-3104297480ns5:Subsidiary12023-11-012024-10-31042974801ns5:Subsidiary12023-11-012024-10-3104297480ns5:WithinOneYearns5:CurrentFinancialInstruments2024-10-3104297480ns5:WithinOneYearns5:CurrentFinancialInstruments2023-10-3104297480ns5:CurrentFinancialInstruments2023-11-012024-10-3104297480ns5:Non-currentFinancialInstruments2023-11-012024-10-3104297480ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-10-3104297480ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-10-3104297480ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-10-3104297480ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-10-3104297480ns5:DeferredTaxation2023-10-3104297480ns5:DeferredTaxation2023-11-012024-10-3104297480ns5:DeferredTaxation2024-10-3104297480ns10:OrdinaryShareClass12024-10-31
REGISTERED NUMBER: 04297480 (England and Wales)





STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST OCTOBER 2024

FOR

ACE LIFTAWAY LIMITED

ACE LIFTAWAY LIMITED (REGISTERED NUMBER: 04297480)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Statement of Income and Retained Earnings 8

Balance Sheet 9

Cash Flow Statement 10

Notes to the Cash Flow Statement 11

Notes to the Financial Statements 13


ACE LIFTAWAY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST OCTOBER 2024







DIRECTORS: Mr P J Liddell
Mrs M J Liddell





SECRETARY: Mrs M J Liddell





REGISTERED OFFICE: The Estate Office
Yokesford Hill Estate Belbins
Romsey
Hampshire
SO51 0PF





REGISTERED NUMBER: 04297480 (England and Wales)





INDEPENDENT AUDITORS: Shaw Gibbs (Audit) Limited
Chartered Certified Accountants
Statutory Auditor
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ

ACE LIFTAWAY LIMITED (REGISTERED NUMBER: 04297480)

STRATEGIC REPORT
FOR THE YEAR ENDED 31ST OCTOBER 2024


The directors present their strategic report for the year ended 31st October 2024.

REVIEW OF BUSINESS
2023/24 was a challenging year which saw the completion and commissioning of the bespoke wash plant. All these challenges have been overcome resulting in a fully operational additional sector in the organisation.

During 2023/24 we continued to be subjected to extreme competitiveness in the tipper business, skip and container sector however we have been successful in maintaining our market position through our efficiencies, reliability and the outstanding customer service that we offer our customers.

We have continued to maintain reliable and consistent outlets for our products.

Ace Loos continued to go from strength to strength - we were successful in winning and retaining major events throughout Hampshire and Dorset. As a result we invested in additional portable toilets to increase our event fleet.

Our earlier investment in a new pre-MOT inspection service lane has proven to increase efficiencies, reducing the need for third party brake testing, and allowed us to increase the number of vehicles inspections and pre-MOT inspections going through the workshop without the need for additional staffing.

We have been successful in developing our young people through to skilled members of staff who are playing key roles within our business. This is an ongoing commitment.

Like all companies, we have been under pressure with increased costs across all sectors. We have reviewed suppliers and working practices to reduce the impact on the company's profitability.

We continue to invest in new equipment throughout all sectors but with reduced levels in departments that have adequate resources. A large volume of mobile plant was purchased prior to inflation pressures and interest rate rises and our recycling division is particularly benefiting from this pre-planning, taking the pressure off purchasing new machines whilst the interest rates sit at their current position.

Our staffing levels have been reviewed and we have reduced staff levels in departments through natural wastage.

We are extremely grateful for the continued support and hard work of all our employees and loyalty of our clients, suppliers and business partners.


ACE LIFTAWAY LIMITED (REGISTERED NUMBER: 04297480)

STRATEGIC REPORT
FOR THE YEAR ENDED 31ST OCTOBER 2024

FINANCIAL INSTRUMENTS, RISK MANAGEMENT AND POLICIES
The company has no financial instruments at the year end other than bank loans and cash, and financial instruments such as debtors and creditors that arise directly from its operations.

The company is exposed to a variety of financial risks which result from its operating activities. The board is responsible for coordinating the company's risk management and focuses on securing the company's short to medium term cash flows.

The company does not actively engage in the trading of financial assets and has no financial derivatives. The company seeks to manage risks to ensure sufficient liquidity is available to meet its foreseeable needs. Regular contact is maintained with the company's bankers to ensure that sufficient funding is available for the company's needs if required.

ON BEHALF OF THE BOARD:





Mr P J Liddell - Director


25th June 2025

ACE LIFTAWAY LIMITED (REGISTERED NUMBER: 04297480)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST OCTOBER 2024


The directors present their report with the financial statements of the company for the year ended 31st October 2024.

DIVIDENDS
Ordinary dividends were paid amounting to £180,000.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st November 2023 to the date of this report.

Mr P J Liddell
Mrs M J Liddell

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
Shaw Gibbs (Audit) Limited will be deemed to be reappointed in the following year under section 487(2) of the Companies Act 2006.

ON BEHALF OF THE BOARD:





Mr P J Liddell - Director


25th June 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ACE LIFTAWAY LIMITED


Opinion
We have audited the financial statements of Ace Liftaway Limited (the 'company') for the year ended 31st October 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31st October 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ACE LIFTAWAY LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory framework applicable to the company via discussions with the directors and our previous knowledge of the company. This identified that the most significant laws and regulations relate to the form and content of the financial statements such as the UK Companies Act 2006 and Financial Reporting Standard 102. The company complies with these laws and regulations by using appropriately qualified professionals to prepare the financial statements.

As part of our planning process we assessed susceptibility of the company's financial statements to material misstatements, including how fraud might occur by making an assessment of the key risks. The key risks identified in respect of Aceliftaway Limited are revenue recognition and management override.

Based on this assessment we designed our audit procedures to address these key risk areas with an emphasis on testing sales cut off and testing controls in place in respect of sales and those areas susceptible to management override including testing manual journals and making enquiries of management.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ACE LIFTAWAY LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




David Barr FCA (Senior Statutory Auditor)
for and on behalf of Shaw Gibbs (Audit) Limited
Chartered Certified Accountants
Statutory Auditor
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ

25th June 2025

ACE LIFTAWAY LIMITED (REGISTERED NUMBER: 04297480)

STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31ST OCTOBER 2024

2024 2023
Notes £    £   

TURNOVER 3 10,649,151 9,950,573

Cost of sales 8,882,414 7,957,572
GROSS PROFIT 1,766,737 1,993,001

Administrative expenses 1,472,541 1,685,145
294,196 307,856

Other operating income 4 19,457 13,474
OPERATING PROFIT 6 313,653 321,330

Interest receivable and similar income 6,675 7,780
320,328 329,110

Interest payable and similar expenses 7 141,294 87,212
PROFIT BEFORE TAXATION 179,034 241,898

Tax on profit 8 141,401 105,191
PROFIT FOR THE FINANCIAL YEAR 37,633 136,707

Retained earnings at beginning of year 4,067,538 4,080,831

Dividends 9 (180,000 ) (150,000 )

RETAINED EARNINGS AT END OF
YEAR

3,925,171

4,067,538

ACE LIFTAWAY LIMITED (REGISTERED NUMBER: 04297480)

BALANCE SHEET
31ST OCTOBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 10 8,419 8,419
Tangible assets 11 8,271,925 8,390,404
Investments 12 100 100
8,280,444 8,398,923

CURRENT ASSETS
Debtors 13 1,425,069 1,255,987
Cash at bank and in hand 394,495 737,134
1,819,564 1,993,121
CREDITORS
Amounts falling due within one year 14 2,618,966 2,354,673
NET CURRENT LIABILITIES (799,402 ) (361,552 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,481,042

8,037,371

CREDITORS
Amounts falling due after more than one
year

15

(2,282,762

)

(2,927,877

)

PROVISIONS FOR LIABILITIES 18 (1,273,105 ) (1,041,952 )
NET ASSETS 3,925,175 4,067,542

CAPITAL AND RESERVES
Called up share capital 19 4 4
Retained earnings 3,925,171 4,067,538
SHAREHOLDERS' FUNDS 3,925,175 4,067,542

The financial statements were approved by the Board of Directors and authorised for issue on 25th June 2025 and were signed on its behalf by:





Mr P J Liddell - Director


ACE LIFTAWAY LIMITED (REGISTERED NUMBER: 04297480)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST OCTOBER 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,319,757 549,473
Interest paid (71,379 ) (25,219 )
Interest element of hire purchase payments
paid

(68,205

)

(61,993

)
Finance costs paid (1,710 ) -
Tax paid (101,892 ) 74,038
Net cash from operating activities 1,076,571 536,299

Cash flows from investing activities
Purchase of tangible fixed assets (440,601 ) (1,081,054 )
Sale of tangible fixed assets 45,500 2,000
Interest received 6,675 7,780
Net cash from investing activities (388,426 ) (1,071,274 )

Cash flows from financing activities
New loans in year - 1,000,000
Loan repayments in year (73,371 ) (15,376 )
Capital repayments in year (780,267 ) (865,841 )
Amount introduced by directors 187,890 131,960
Amount withdrawn by directors (185,036 ) (131,213 )
Equity dividends paid (180,000 ) (150,000 )
Net cash from financing activities (1,030,784 ) (30,470 )

Decrease in cash and cash equivalents (342,639 ) (565,445 )
Cash and cash equivalents at beginning of
year

2

737,134

1,302,579

Cash and cash equivalents at end of year 2 394,495 737,134

ACE LIFTAWAY LIMITED (REGISTERED NUMBER: 04297480)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST OCTOBER 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit before taxation 179,034 241,898
Depreciation charges 914,280 936,490
Profit on disposal of fixed assets (30,439 ) (1,503 )
Finance costs 141,294 87,212
Finance income (6,675 ) (7,780 )
1,197,494 1,256,317
Increase in trade and other debtors (73,121 ) (128,193 )
Increase/(decrease) in trade and other creditors 195,384 (578,651 )
Cash generated from operations 1,319,757 549,473

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31st October 2024
31.10.24 1.11.23
£    £   
Cash and cash equivalents 394,495 737,134
Year ended 31st October 2023
31.10.23 1.11.22
£    £   
Cash and cash equivalents 737,134 1,302,579


ACE LIFTAWAY LIMITED (REGISTERED NUMBER: 04297480)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST OCTOBER 2024


3. ANALYSIS OF CHANGES IN NET DEBT

Other
non-cash
At 1.11.23 Cash flow changes At 31.10.24
£    £    £    £   
Net cash
Cash at bank
and in hand 737,134 (342,639 ) 394,495
737,134 (342,639 ) 394,495
Debt
Finance leases (2,440,228 ) 780,267 (370,262 ) (2,030,223 )
Debts falling due
within 1 year (73,313 ) (6,031 ) - (79,344 )
Debts falling due
after 1 year (911,311 ) 79,402 - (831,909 )
(3,424,852 ) 853,638 (370,262 ) (2,941,476 )
Total (2,687,718 ) 510,999 (370,262 ) (2,546,981 )

ACE LIFTAWAY LIMITED (REGISTERED NUMBER: 04297480)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2024


1. STATUTORY INFORMATION

Ace Liftaway 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Related party exemption
The financial statements contain information about Ace Liftaway Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Liddell Holdings (Wessex) Limited, The Estate Office, Yokesford Hill Estate Belbins, Romsey, Hampshire, SO51 0PF.

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102
'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related
party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimate and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements:

- Depreciation policy
- Tipping provision

ACE LIFTAWAY LIMITED (REGISTERED NUMBER: 04297480)

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


2. ACCOUNTING POLICIES - continued

Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows:

Trade debtors
Trade debtors are reviewed on an account-by-account basis for recoverability. Where the amount due is considered irrecoverable, or only partly recoverable, a provision is made against the amount which is not expected to be recovered.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, and funding has been secured with the company's bankers as required. Therefore, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from recycling is recognised when waste is physically received on site through the weighbridge. Revenue from sanitation hire and services is recognised on a monthly basis in line with the hire periods during that month. Revenue from the provision of skips is recognised on initial delivery of the skip to the customer with provision made for collection and waste disposal costs.

Intangible fixed assets other than goodwill
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation has not been provided as the intellectual property as the waste transfer license exists until it is transferred to another company or is surrendered.

Tangible fixed assets
Tangible fixed assets are initially measured at cost. After initial recognition, tangible assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Depreciation is provided at the following annual rates in order to to write off each asset over its estimated useful life.

Plant and machinery - 20% on reducing balance, 4% on cost and 5% on cost less residual value
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit or loss.

Investments in subsidiaries
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

ACE LIFTAWAY LIMITED (REGISTERED NUMBER: 04297480)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affect. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the carrying amount does not exceed hat the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the assets expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the assets in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.Financial liabilities classified as payable within one year are not amortised.


ACE LIFTAWAY LIMITED (REGISTERED NUMBER: 04297480)

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


2. ACCOUNTING POLICIES - continued
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

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

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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.

ACE LIFTAWAY LIMITED (REGISTERED NUMBER: 04297480)

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


2. ACCOUNTING POLICIES - continued

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher or fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset of which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

2024 2023
£    £   
Skips 8,085,426 7,807,030
Sanitation 985,974 853,861
Recycling 1,483,282 1,289,682
Washplant 94,469 -
10,649,151 9,950,573

4. OTHER OPERATING INCOME
2024 2023
£    £   
Insurance claim received 7,253 1,270
Government grants 12,204 12,204
19,457 13,474

ACE LIFTAWAY LIMITED (REGISTERED NUMBER: 04297480)

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


5. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 3,424,641 3,209,966
Social security costs 326,974 294,774
Other pension costs 67,753 61,958
3,819,368 3,566,698

The average number of employees during the year was as follows:
2024 2023

Directors 2 2
Administration 15 14
Sales 4 4
Direct 92 91
113 111

2024 2023
£    £   
Directors' remuneration 24,528 20,544

6. OPERATING PROFIT

20242023
Operating profit for the year is stated after charging/(crediting)££

Government grants(12,204)(12,204)
Audit fees12,60011,500
Depreciation of owned tangible fixed assets659,990624,965
Depreciation of tangible fixed assets held under finance leases254,290311,525
Profit on disposal of tangible fixed assets(30,439)(1,503)

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest 71,379 25,219
Hire purchase 68,205 61,993
Other interest paid 1,710 -
141,294 87,212

ACE LIFTAWAY LIMITED (REGISTERED NUMBER: 04297480)

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


8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax (89,752 ) 89,794

Deferred tax 231,153 15,397
Tax on profit 141,401 105,191

UK corporation tax has been charged at 25% .

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 179,034 241,898
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 22.500%)

44,759

54,427

Effects of:
Expenses not deductible for tax purposes 3,076 1,488
Income not taxable for tax purposes (10,661 ) (3,084 )
Capital allowances in excess of depreciation (755,885 ) -
Depreciation in excess of capital allowances - 42,964
Adjustments to tax charge in respect of previous periods 6,132 (6,001 )
corporation tax rate
Group relief 47,702 -
Tax losses carried forward 575,125 -
Deferred tax charge 231,153 15,397
Total tax charge 141,401 105,191

On 1st April 2023 the standard rate of UK corporation tax applicable to the company changed from 19% to 25%.

9. DIVIDENDS
2024 2023
£    £   
Ordinary shares of 1 each
Interim 180,000 150,000

ACE LIFTAWAY LIMITED (REGISTERED NUMBER: 04297480)

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


10. INTANGIBLE FIXED ASSETS
Intellectual
property
£   
COST
At 1st November 2023
and 31st October 2024 8,419
NET BOOK VALUE
At 31st October 2024 8,419
At 31st October 2023 8,419

11. TANGIBLE FIXED ASSETS
Assets Fixtures
under Plant and and Motor
construction machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1st November 2023 4,032,403 11,845,366 293,456 277,980 16,449,205
Additions 169,856 600,577 3,929 36,500 810,862
Disposals - (165,040 ) - - (165,040 )
Transfer to ownership (4,202,259 ) 4,202,259 - - -
At 31st October 2024 - 16,483,162 297,385 314,480 17,095,027
DEPRECIATION
At 1st November 2023 - 7,604,267 216,463 238,071 8,058,801
Charge for year - 886,591 15,449 12,240 914,280
Eliminated on disposal - (149,979 ) - - (149,979 )
At 31st October 2024 - 8,340,879 231,912 250,311 8,823,102
NET BOOK VALUE
At 31st October 2024 - 8,142,283 65,473 64,169 8,271,925
At 31st October 2023 4,032,403 4,241,099 76,993 39,909 8,390,404

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts:

31.10.2431.10.23
££

Plant and machinery3,734,9123,873,393
Motor vehicles32,242-

TOTAL3,767,1543,873,393


ACE LIFTAWAY LIMITED (REGISTERED NUMBER: 04297480)

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


12. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1st November 2023
and 31st October 2024 100
NET BOOK VALUE
At 31st October 2024 100
At 31st October 2023 100

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Ace Loos Limited
Registered office: The Estate Office, Yokesford Hill Estates, Belbins, Romsey, Hampshire, SO51 0PF
Nature of business: Dormant company
%
Class of shares: holding
Ordinary 100.00

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 952,771 890,923
Amounts owed by group undertakings 159,886 161,086
Tax 95,884 -
Prepayments and accrued income 216,528 203,978
1,425,069 1,255,987

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 16) 79,344 73,313
Hire purchase contracts (see note 17) 665,336 521,832
Trade creditors 906,325 813,929
Tax 35 95,795
Social security and other taxes 115,794 75,634
VAT 259,200 261,116
Other creditors 67,174 120,983
Directors' current accounts 3,600 747
Accruals and deferred income 509,954 379,120
Deferred government grants 12,204 12,204
2,618,966 2,354,673

ACE LIFTAWAY LIMITED (REGISTERED NUMBER: 04297480)

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


14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Obligations under finance leases are secured by fixed charges on the assets concerned.

There is a cross party guarantee between the company and its fellow subsidiary, Liddell Estates Limited, relating to the bank borrowings which are secured against the assets of the company.

Included above are secured creditors of £744,680 (2023 - £595,145).

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 16) 831,909 911,311
Hire purchase contracts (see note 17) 1,364,887 1,918,396
Deferred government grants 85,966 98,170
2,282,762 2,927,877

Obligations under finance leases are secured by fixed charges on the assets concerned.

There is a cross party guarantee between the company and its fellow subsidiary, Liddell Estates Limited, relating to the bank borrowings which are secured against the assets of the company.

Included above are secured creditors of £2,196,796 (2023 - £2,829,707).

The government grant deferred at the year end, relates to a WRAP grant, which is recognised over the useful life of the asset required. There are no unfulfilled conditions relating to this grant.

16. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 79,344 73,313

Amounts falling due between one and two years:
Bank loans - 1-2 years 85,187 76,510

Amounts falling due between two and five years:
Bank loans - 2-5 years 746,722 834,801

ACE LIFTAWAY LIMITED (REGISTERED NUMBER: 04297480)

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


17. LEASING AGREEMENTS

2024 2023
Future minimum lease payments due under finance leases: £ £

Within one year 736,436 579,174
In two to five years 1,539,548 2,148,969
2,275,984 2,728,143
Less: future finance charges (245,761 ) (287,915 )
2,030,223 2,440,228

Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 3 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

18. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,273,105 1,041,952

Deferred
tax
£   
Balance at 1st November 2023 1,041,952
Charge to Statement of Comprehensive Income during year 231,153
Balance at 31st October 2024 1,273,105

The deferred tax liability above relates to accelerated capital allowances that are expected to reverse in due course.

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
4 Ordinary 1 4 4

All shares have full voting and dividend rights and rank pari passu for repayment and any distribution on winding up. Shares are not redeemable.

20. PENSION COMMITMENTS

The company operated a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

£67,753 (2023: £61,958) was charged to profit or loss in respect of defined contribution schemes in the year.

ACE LIFTAWAY LIMITED (REGISTERED NUMBER: 04297480)

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


21. FINANCIAL COMMITMENTS, GUARANTEES AND CONTINGENT LIABILITIES

There is a cross party guarantee between the company and its fellow subsidiary, Liddell Estates Limited. The potential liability to the company at the year end was £124,640 (2023: £182,538), relating to the bank borrowings within Liddell Estates Limited.

22. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements 281,599 122,314

23. RELATED PARTY DISCLOSURES

The directors are considered to be the only key management personnel. The remuneration of the directors is given in note 5.

Aceliftaway Limited rents land from a fellow subsidiary Liddell Estates Limited. During the current year Liddell Estates Limited gave Aceliftaway Limited a rent reduction of £300,000.

24. ULTIMATE CONTROLLING PARTY

The parent and ultimate parent company company is Liddell Holdings (Wessex) Limited, a company registered in England & Wales.

The ultimate controlling parties are Mr P & Mrs M Liddell by virtue of their 100% shareholdings in the parent company.

The smallest and largest group that the company is consolidated in is that of the parent company, Liddell Holdings (Wessex) Limited. Financial statements can be obtained from The Estate Office, Yokesford Hill Estate, Belbins, Romsey, Hampshire, SO51 0PF.