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Registered number: 01586690
Cheetah Couriers And Logistics Ltd
Directors' Report and
Unaudited Financial Statements
For The Year Ended 31 October 2023
M Ashton Accountants Ltd
Chartered Certified Accountants
18 Tiverton Road
Ruislip
HA4 0BW
Contents
Page
Company Information 1
Directors' Report 2
Accountant's Report 3
Profit and Loss Account 4
Statement of Comprehensive Income 5
Balance Sheet 6—7
Statement of Changes in Equity 8
Notes to the Financial Statements 9—16
Page 1
Company Information
Directors Mr Lewis Pritchard
Mr David Woodage
Mrs Deborah Woodage
Company Number 01586690
Registered Office 6 Maxted Road
Hemel Hempstead
Herts
HP2 7DX
Business 6 Maxted Road
Hemel Hempstead
Herts
HP2 7DX
Accountants M Ashton Accountants Ltd
Chartered Certified Accountants
18 Tiverton Road
Ruislip
HA4 0BW
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 31 October 2023.
Directors
The directors who held office during the year were as follows:
Mr Lewis Pritchard
Mr David Woodage
Mr John Pritchard Resigned 01/03/2024
Mrs Susan Pritchard Resigned 01/03/2024
Mrs Deborah Woodage Appointed 01/03/2024
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report 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 the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments 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.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has 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.
On behalf of the board
Mr Lewis Pritchard
Director
31/07/2024
Page 2
Page 3
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of Cheetah Couriers And Logistics Ltd for the year ended 31 October 2023
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Cheetah Couriers And Logistics Ltd which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Cheetah Couriers And Logistics Ltd , as a body, in accordance with the terms of our engagement letter dated 24 April 2024. Our work has been undertaken solely to prepare for your approval the accounts of Cheetah Couriers And Logistics Ltd and state those matters that we have agreed to state to the directors of Cheetah Couriers And Logistics Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cheetah Couriers And Logistics Ltd and its directors as a body for our work or for this report.
It is your duty to ensure that Cheetah Couriers And Logistics Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Cheetah Couriers And Logistics Ltd . You consider that Cheetah Couriers And Logistics Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Cheetah Couriers And Logistics Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
31/07/2024
M Ashton Accountants Ltd
Chartered Certified Accountants
18 Tiverton Road
Ruislip
HA4 0BW
Page 3
Page 4
Profit and Loss Account
2023 2022
Notes £ £
TURNOVER 3 7,564,646 9,039,897
Cost of sales (5,399,966 ) (6,850,813 )
GROSS PROFIT 2,164,680 2,189,084
Administrative expenses (934,788 ) (940,669 )
Other operating income 230,103 178,112
OPERATING PROFIT 1,459,995 1,426,527
Income from other fixed asset investments 7,606 13,408
Profit on disposal of fixed assets 19,698 16,423
Other interest receivable and similar income 25,648 6,122
Interest payable and similar charges 7 (21,924 ) (15,407 )
PROFIT BEFORE TAXATION 1,491,023 1,447,073
Tax on Profit (410,401 ) (307,609 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 1,080,622 1,139,464
The notes on pages 9 to 16 form part of these financial statements.
Page 4
Page 5
Statement of Comprehensive Income
2023 2022
£ £
PROFIT FOR THE FINANCIAL YEAR 1,080,622 1,139,464
OTHER COMPREHENSIVE INCOME:
Gain on revaluation of property, plant and equipment - 609,366
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 1,080,622 1,748,830
Page 5
Page 6
Balance Sheet
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 8 4,900,141 5,027,228
Investment Properties 9 770,000 770,000
Investments 10 6,250 6,250
5,676,391 5,803,478
CURRENT ASSETS
Debtors 11 5,300,063 3,305,904
Cash at bank and in hand 1,234,051 2,490,721
6,534,114 5,796,625
Creditors: Amounts Falling Due Within One Year 12 (1,121,033 ) (1,206,723 )
NET CURRENT ASSETS (LIABILITIES) 5,413,081 4,589,902
TOTAL ASSETS LESS CURRENT LIABILITIES 11,089,472 10,393,380
Creditors: Amounts Falling Due After More Than One Year 13 (315,552 ) (422,288 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 15 (950,499 ) (902,293 )
NET ASSETS 9,823,421 9,068,799
CAPITAL AND RESERVES
Called up share capital 16 50,205 50,205
Revaluation reserve 19 1,421,395 1,421,395
Profit and Loss Account 8,351,821 7,597,199
SHAREHOLDERS' FUNDS 9,823,421 9,068,799
Page 6
Page 7
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
Mr Lewis Pritchard
Director
31/07/2024
The notes on pages 9 to 16 form part of these financial statements.
Page 7
Page 8
Statement of Changes in Equity
Share Capital Revaluation reserve Profit and Loss Account Total
£ £ £ £
As at 1 November 2021 50,205 812,029 6,970,235 7,832,469
Profit for year - - 1,139,464 1,139,464
Surplus on revaluation - 609,366 - 609,366
Other comprehensive income for the year - 609,366 - 609,366
Total comprehensive income for the year - 609,366 1,139,464 1,748,830
Dividends paid - - (512,500) (512,500)
As at 31 October 2022 and 1 November 2022 50,205 1,421,395 7,597,199 9,068,799
Profit for the year and total comprehensive income - - 1,080,622 1,080,622
Dividends paid - - (326,000) (326,000)
As at 31 October 2023 50,205 1,421,395 8,351,821 9,823,421
Page 8
Page 9
Notes to the Financial Statements
1. General Information
Cheetah Couriers And Logistics Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 01586690 . The registered office is 6 Maxted Road, Hemel Hempstead, Herts, HP2 7DX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
 Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% per annum on cost
Leasehold 10 years straight line
Motor Vehicles 30% per annum reducing balance
Fixtures & Fittings 20% per annum 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 profit or loss.
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
Rental income is made up of rent received by the company for the period, excluding value added tax adjusted for accrued revenue calculated by reference to the fair value of rents due up to the balance sheet date.
2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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Page 10
2.7. Financial Instruments
The company has elected to appply 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 financing 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.
Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
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 affected. 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 current carrying amount does not exceed what 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 asset 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 asset 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 and preference shares that are classified as debt, 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 payments 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 method.
Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.
...CONTINUED
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2.7. Financial Instruments - continued
Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
2.8. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.9. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.10. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.11. Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, 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 estimates 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.
3. Turnover
Company turnover derived from markets outside the United Kingdom.
2023 2022
£ £
United Kingdom 7,564,646 9,039,897
7,564,646 9,039,897
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4. Staff Costs
Staff costs, including directors' remuneration, were as follows:
The directors hold all of the key management positions within the company.
2023 2022
£ £
Wages and salaries 1,326,747 1,463,657
Social security costs 139,423 164,478
Other pension costs 229,119 53,919
1,695,289 1,682,054
5. Average Number of Employees
Average number of employees, including directors, during the year was: 37 (2022: 39)
37 39
6. Directors' remuneration
2023 2022
£ £
Emoluments 221,000 218,500
Company contributions to money purchase pension schemes 201,966 24,000
422,966 242,500
During the year, retirement benefits were accruing to 3 directors (2022 - 3) in respect of money purchase schemes.
Information regarding the highest paid director is as follows:
2023 2022
£ £
Emoluments 72,000 218,500
Company contributions to money purchase pension schemes 99,983 12,000
171,983 230,500
7. Interest Payable and Similar Charges
2023 2022
£ £
Bank loans and overdrafts 14,690 11,474
Finance charges payable under finance leases and hire purchase contracts 7,234 3,933
21,924 15,407
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8. Tangible Assets
Land & Property
Freehold Leasehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 November 2022 3,000,000 1,697,052 2,037,400 637,326 7,371,778
Additions - 16,888 389,893 - 406,781
Disposals - - (335,070 ) - (335,070 )
As at 31 October 2023 3,000,000 1,713,940 2,092,223 637,326 7,443,489
Depreciation
As at 1 November 2022 - 401,344 1,392,498 550,708 2,344,550
Provided during the period - 153,218 287,774 17,324 458,316
Disposals - - (259,518 ) - (259,518 )
As at 31 October 2023 - 554,562 1,420,754 568,032 2,543,348
Net Book Value
As at 31 October 2023 3,000,000 1,159,378 671,469 69,294 4,900,141
As at 1 November 2022 3,000,000 1,295,708 644,902 86,618 5,027,228
The fair value of the freehold property has been arrived at on the basis of a valuation carried out by the director's on 31 October 2023. The valuations were made on an open market value basis by reference to market evidence of transaction prices for similar properties.
Cost or valuation of land & buildings at 31 October 2023 is represented by: original cost £997,496 plus increase valuation in 2018 £1,002,504 and an increase in valuation in 2022 £1,000,000 totaling £3,000,000.
If revalued assets were stated on an historical cost basis rather than a fair value basis, the total amounts included would have been as follows:
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2023 2022
£ £
Motor Vehicles 222,698 342,795
9. Investment Property
2023
£
Fair Value
As at 1 November 2022 and 31 October 2023 770,000
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2023 2022
£ £
Cost 997,496 997,496
Accumulated depreciation and impairment 926,004 907,272
Carrying amount 71,492 90,224
Investment property was valued on an existing use basis on 14th June 2023 by Castle Estate Agents. It was considered appropriate to use the valuation at the current year end date.
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10. Investments
Unlisted
£
Cost
As at 1 November 2022 6,250
As at 31 October 2023 6,250
Provision
As at 1 November 2022 -
As at 31 October 2023 -
Net Book Value
As at 31 October 2023 6,250
As at 1 November 2022 6,250
11. Debtors
2023 2022
£ £
Due within one year
Trade debtors 989,092 874,067
Prepayments and accrued income 2,578,779 1,214,428
Other debtors 1,509,204 1,001,164
Corporation tax recoverable assets 77,734 77,734
Directors' loan accounts 145,254 138,511
5,300,063 3,305,904
12. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 90,464 96,532
Bank loans and overdrafts 48,698 47,371
Corporation tax 270,346 318,151
Other taxes and social security 44,807 46,547
VAT 189,192 199,829
Other creditors 61,802 15,171
Other trade creditors 387,794 454,482
Accruals and deferred income 23,790 28,640
Directors' loan accounts 4,140 -
1,121,033 1,206,723
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13. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 2,250 60,326
Bank loans 313,302 361,962
315,552 422,288
The bank loans included in amounts falling due within one year and due after one year are secured against the assets of the company.
The loan is repayable under installments and is split as follows;
- Due within one year £48,698 (2022: £47,371)
- Due between 1 - 2 years £154,683 (2022: £48,698)
- Due between 2 - 5 years £158,619 (2022: £154,683)
- Due after 5 years £nil (2022: £158,581)
14. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 90,464 96,532
Later than one year and not later than five years 2,250 60,326
92,714 156,858
92,714 156,858
15. Deferred Taxation
The provision for deferred tax is made up as follows:
following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:
Accelerated capital allowances £185,191 (2022: £136,985)
Revaluations       £762,550 (2022: £762,550)
Retirement benefit obligations   £2,758 (2022: £2,758) 
2023 2022
£ £
Other timing differences 950,499 902,293
16. Share Capital
2023 2022
Allotted, called up and fully paid £ £
50,000 Ordinary Shares of £ 1.00 each 50,000 50,000
1 Ordinary A shares of £ 1.00 each 1 1
1 Ordinary B shares of £ 1.00 each 1 1
1 Ordinary C shares of £ 1.00 each 1 1
1 Ordinary D shares of £ 1.00 each 1 1
1 Ordinary E shares of £ 1.00 each 1 1
50,005 50,005
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Preference Shares
2023 2022
Allotted, called up and fully paid £ £
200 Preference Shares of £ 1.00 each 200 200
17. Pension Commitments
The company operates 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. 
Charge to profit or loss in respect of defined contribution schemes were £229,199 (2022: £53,919).
18. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 November 2022 Amounts advanced Amounts repaid Amounts written off As at 31 October 2023
£ £ £ £ £
Mr John Pritchard 142,651 177,397 180,000 - 145,254
The above loan is unsecured, interest free and repayable on demand. The loan was repaid within 9 months and 1 day of the year end.
Dividends totalling £326,500 (2022 - £512,500) were paid in the year in respect of shares held by the company's directors.
19. Reserves
Revaluation Reserve
£
As at 1 November 2022 1,421,395
As at 31 October 2023 1,421,395
20. Related Party Transactions
Included within other debtors is an amount totaling £244,810 (2022 : £238,981) owed to the company by a close relation of the directors. Interest is being charged at base rate and is repayable on demand.
Included within other debtors is an amount totaling £400,000 (2022 : £400,000) owed to the company by Pritchard Developments Ltd a company owned by the directors J M Pritchard and L J Pritchard.
Included within other debtors is an amount totaling £850,001 (2022 : £350,000) owed to the company by Dartmouth Caravan Park Ltd a company owned by the directors J M Pritchard and L J Pritchard.
Included within other creditors is an amount totaling £nil (2022 : £15,171) owed to the company by Cheetah Couriers Ltd a company owned by the directors J M Pritchard and L J Pritchard.
Included within service charges income is an annual service charge for facilities owned by the directors J M Pritchard and S P Pritchard charged at £200,000 per annum (2022 : £150,000). At the year end the
amount outstanding was £237,172 (2022: £172,918).
Included within other operating income are management charges received totaling £1,672,171 (Being £498,000 invoiced and £1,174,171 accrued) (2022 : £1,595,748  (Being £484,885 invoiced and £1,110,863 accrued) made to Cheetah Couriers Limited, at fair market rate, a company owned by the directors J M Pritchard and L J Pritchard.
21. Controlling Party
The company is controlled by the directors J M Pritchard and S P Pritchard by virtue of owning the majority of the issued share capital in the company.
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