Registration number: 10963640

Shift-it (Waste) Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

Shift-it (Waste) Limited

Company Information

Directors

Mr M Holland Mr H Holland

Registered office

28 Alexandra Terrace Exmouth Devon EX8 1BD

Accountants

Thompson Jenner LLP Chartered Accountants 28 Alexandra Terrace Exmouth Devon EX8 1BD

Shift-it (Waste) Limited

(Registration number: 10963640)
Balance Sheet as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	11,468	17,452
Tangible assets	5	242,188	255,996
		253,656	273,448
Current assets
Debtors	6	11,946	55,800
Cash at bank and in hand		122,911	89,656
		134,857	145,456
Creditors: Amounts falling due within one year	7	(147,874)	(140,400)
Net current (liabilities)/assets		(13,017)	5,056
Total assets less current liabilities		240,639	278,504
Creditors: Amounts falling due after more than one year	7	(85,144)	(80,629)
Provisions for liabilities		(59,996)	(51,834)
Net assets		95,499	146,041
Capital and reserves
Called up share capital		1	1
Retained earnings		95,498	146,040
Shareholders' funds		95,499	146,041

For the financial year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Shift-it (Waste) Limited

(Registration number: 10963640)
Balance Sheet as at 31 December 2025

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 August 2026 and signed on its behalf by:
 

......................................... Mr M Holland Director

Shift-it (Waste) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Shift-it (Waste) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	20% straight line basis
Motor vehicles	25% reducing balance basis
Office equipment	20% straight line basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Shift-it (Waste) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Shift-it (Waste) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 17 (2024 - 18).

Shift-it (Waste) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 January 2025	59,839	59,839
At 31 December 2025	59,839	59,839
Amortisation
At 1 January 2025	42,387	42,387
Amortisation charge	5,984	5,984
At 31 December 2025	48,371	48,371
Carrying amount
At 31 December 2025	11,468	11,468
At 31 December 2024	17,452	17,452

5	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2025	53,071	483,413	536,484
Additions	5,784	84,326	90,110
Disposals	-	(74,967)	(74,967)
At 31 December 2025	58,855	492,772	551,627
Depreciation
At 1 January 2025	26,475	254,013	280,488
Charge for the year	9,499	73,102	82,601
Eliminated on disposal	-	(53,650)	(53,650)
At 31 December 2025	35,974	273,465	309,439
Carrying amount
At 31 December 2025	22,881	219,307	242,188
At 31 December 2024	26,596	229,400	255,996

Shift-it (Waste) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

6

Debtors

	2025 £	2024 £
Trade debtors	10,501	9,994
Other debtors	1,228	42,143
Prepayments and accrued income	217	3,663
Total current trade and other debtors	11,946	55,800

7

Creditors

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	55,564	78,782
Taxation and social security		57,957	32,801
Other creditors		13,659	12,091
Accrued expenses		20,694	16,726
		147,874	140,400

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	8	85,144	80,629

8	Loans and borrowings

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	5,026	9,305
Hire purchase contracts	50,538	69,477
	55,564	78,782

Shift-it (Waste) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	-	5,695
Hire purchase contracts	85,144	74,934
	85,144	80,629

9	Related party transactions

Transactions with directors

2025	At 1 January 2025 £	Advances to director £	Repayments by director £	At 31 December 2025 £
Loan repayable on demand	33,928	88,943	(122,871)	-
Loan repayable on demand	6,757	13,770	(19,300)	1,227

2024	At 1 January 2024 £	Advances to director £	Repayments by director £	At 31 December 2024 £
Loan repayable on demand	47,501	91,949	(105,522)	33,928
Loan repayable on demand	-	6,757	-	6,757