REGISTERED NUMBER: 04297480 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST OCTOBER 2025

FOR

ACE LIFTAWAY LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

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

DIRECTORS:

Mr P J Liddell

Mrs M J Liddell

Mr R Delves

Mrs H K Thompson

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

The directors present their strategic report for the year ended 31st October 2025.

REVIEW OF BUSINESS

The 24/25 year has been as challenging as ever for Ace Liftaway driven in the main by Government decisions and taxes imposed specifically and indirectly on businesses.

Landfill Tax has increased from £103.70 to £130.75 per tonne since April 2024 under the previous Conservative Government and the new Labour administration and has simply led to all outlets including Waste to Energy and Processing Facilities increasing their gate charges accordingly by up to £25 per tonne.

Energy prices continue to increase and have an impact particularly with the loss of the Rebated Fuel Allowance and lack of infrastructure capable of supporting electrified plant.

Employment costs continue to rise particularly as the result of the increases in National Insurance and the Minimum Wage.

The industry also continues to be heavily regulated with consistent mistranslation from the Regulator adding to confusion and frustration.

Despite these practical challenges and financial difficulties imposed on us we have and continue to return an operating profit by taking steps to reduce capital expenditure until we see more stability in the money market and inflation. Additionally reducing staff numbers by not replacing leavers and halting our apprenticeship scheme for the time being. At the same time introducing efficiencies and successfully implementing quality increases to our services and products.

The Wash Plant has successfully produced high quality recycled aggregates for which we are experiencing repeated and consistent business and Ace Loos continues to do well.

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:

Mrs M J Liddell - Director

29th July 2026

The directors present their report with the financial statements of the company for the year ended 31st October 2025.

DIVIDENDS

Ordinary dividends were paid amounting to £120,000.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st November 2024 to the date of this report.

Mr P J Liddell

Mrs M J Liddell

Other changes in directors holding office are as follows:

Mr R Delves - appointed 1st July 2025

Mrs H K Thompson - appointed 1st July 2025

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:

Mrs M J Liddell - Director

29th July 2026

Opinion

We have audited the financial statements of Ace Liftaway Limited (the 'company') for the year ended 31st October 2025 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 2025 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.

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 three, 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 Ace Liftaway 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.

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

29th July 2026

TURNOVER

3

10,568,392

10,649,151

Cost of sales

8,993,143

8,882,414

GROSS PROFIT

1,575,249

1,766,737

Administrative expenses

1,407,585

1,472,541

167,664

294,196

Other operating income

4

12,204

19,457

OPERATING PROFIT

6

179,868

313,653

Interest receivable and similar income

4,166

6,675

184,034

320,328

Interest payable and similar expenses

7

146,222

141,294

PROFIT BEFORE TAXATION

37,812

179,034

Tax on profit

8

14,823

141,401

PROFIT FOR THE FINANCIAL YEAR

22,989

37,633

Retained earnings at beginning of year

3,925,171

4,067,538

Dividends

9

(120,000

)

(180,000

)

RETAINED EARNINGS AT END OF YEAR

3,828,160

3,925,171

FIXED ASSETS

Intangible assets

10

8,419

8,419

Tangible assets

11

7,810,299

8,271,925

Investments

12

100

100

7,818,818

8,280,444

CURRENT ASSETS

Stocks

13

137,202

-

Debtors

14

1,338,253

1,425,069

Cash at bank and in hand

91,262

394,495

1,566,717

1,819,564

CREDITORS

Amounts falling due within one year

15

2,258,953

2,618,966

NET CURRENT LIABILITIES

(692,236

)

(799,402

)

TOTAL ASSETS LESS CURRENT LIABILITIES

7,126,582

7,481,042

CREDITORS

Amounts falling due after more than one year

16

(2,010,490

)

(2,282,762

)

PROVISIONS FOR LIABILITIES

19

(1,287,928

)

(1,273,105

)

NET ASSETS

3,828,164

3,925,175

CAPITAL AND RESERVES

Called up share capital

20

4

4

Retained earnings

3,828,160

3,925,171

SHAREHOLDERS' FUNDS

3,828,164

3,925,175

The financial statements were approved by the Board of Directors and authorised for issue on 29th July 2026 and were signed on its behalf by:

Mrs M J Liddell - Director

Cash flows from operating activities

Cash generated from operations

1

798,823

1,319,757

Interest paid

(62,192

)

(71,379

)

Interest element of hire purchase payments paid

(83,915

)

(68,205

)

Finance costs paid

(115

)

(1,710

)

Tax paid

95,884

(101,892

)

Net cash from operating activities

748,485

1,076,571

Cash flows from investing activities

Purchase of tangible fixed assets

(197,157

)

(440,601

)

Sale of tangible fixed assets

69,000

45,500

Interest received

4,166

6,675

Net cash from investing activities

(123,991

)

(388,426

)

Cash flows from financing activities

Loan repayments in year

(80,898

)

(73,371

)

Capital repayments in year

(724,229

)

(780,267

)

Amount introduced by directors

124,699

187,890

Amount withdrawn by directors

(127,299

)

(185,036

)

Equity dividends paid

(120,000

)

(180,000

)

Net cash from financing activities

(927,727

)

(1,030,784

)

Decrease in cash and cash equivalents

(303,233

)

(342,639

)

Cash and cash equivalents at beginning of year

2

394,495

737,134

Cash and cash equivalents at end of year

2

91,262

394,495

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

2025

2024

£

£

Profit before taxation

37,812

179,034

Depreciation charges

980,563

914,280

Profit on disposal of fixed assets

(2,496

)

(30,439

)

Finance costs

146,222

141,294

Finance income

(4,166

)

(6,675

)

1,157,935

1,197,494

Increase in stocks

(137,202

)

-

Increase in trade and other debtors

(6,067

)

(73,121

)

(Decrease)/increase in trade and other creditors

(215,843

)

195,384

Cash generated from operations

798,823

1,319,757

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 2025

31.10.25

1.11.24

£

£

Cash and cash equivalents

91,262

394,495

Year ended 31st October 2024

31.10.24

1.11.23

£

£

Cash and cash equivalents

394,495

737,134

3.	ANALYSIS OF CHANGES IN NET DEBT

Other

non-cash

At 1.11.24

Cash flow

changes

At 31.10.25

£

£

£

£

Net cash

Cash at bank

and in hand

394,495

(303,233

)

91,262

394,495

(303,233

)

91,262

Debt

Finance leases

(2,030,223

)

724,229

(388,284

)

(1,694,278

)

Debts falling due

within 1 year

(79,344

)

(7,574

)

-

(86,918

)

Debts falling due

after 1 year

(831,909

)

88,472

-

(743,437

)

(2,941,476

)

805,127

(388,284

)

(2,524,633

)

Total

(2,546,981

)

501,894

(388,284

)

(2,433,371

)

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

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. Therefore, the directors continue to adopt the going concern basis of accounting in preparing the financial statements. In consideration of this the directors have taken into account their gearing and cash flow management along with the performance of the company in a competitive market. The directors are confident based on their forecasted performance of the company that their going concern assessment is reasonable.

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.

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.

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.

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 of 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.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition.

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:

2025

2024

£

£

Skips

8,104,778

8,085,426

Sanitation

965,225

985,974

Recycling

1,179,643

1,483,282

Washplant

318,746

94,469

10,568,392

10,649,151

4.	OTHER OPERATING INCOME

2025

2024

£

£

Insurance claim received

-

7,253

Government grants

12,204

12,204

12,204

19,457

5.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

3,495,095

3,424,641

Social security costs

367,791

326,974

Other pension costs

66,797

67,753

3,929,683

3,819,368

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

2025

2024

Directors

3

2

Administration

14

15

Sales

3

4

Direct

87

92

107

113

2025

2024

£

£

Directors' remuneration

62,176

24,528

Directors' pension contributions to money purchase schemes

293

-

6.	OPERATING PROFIT

2025

2024

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

£

£

Government grants

(12,204

)

(12,204

)

Audit fees

16,275

12,600

Depreciation of owned tangible fixed assets

730,773

659,990

Depreciation of tangible fixed assets held under finance leases

249,790

254,290

Profit on disposal of tangible fixed assets

(2,496

)

(30,439

)

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank interest

62,192

71,379

Hire purchase

83,915

68,205

Other interest paid

115

1,710

146,222

141,294

8.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

-

(89,752

)

Deferred tax

14,823

231,153

Tax on profit

14,823

141,401

UK corporation tax has been charged at 25% (2024 - 25%).