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Registered number: 01586690
Cheetah Couriers And Logistics Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2024
M Ashton Accountants Ltd
Chartered Certified Accountants
18 Tiverton Road
Ruislip
HA4 0BW
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—9
Page 1
Balance Sheet
Registered number: 01586690
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 5,117,293 4,900,141
Investment Properties 5 770,000 770,000
Investments 6 6,250 6,250
5,893,543 5,676,391
CURRENT ASSETS
Debtors 7 6,379,334 5,300,063
Cash at bank and in hand 911,132 1,234,051
7,290,466 6,534,114
Creditors: Amounts Falling Due Within One Year 8 (1,164,994 ) (1,121,033 )
NET CURRENT ASSETS (LIABILITIES) 6,125,472 5,413,081
TOTAL ASSETS LESS CURRENT LIABILITIES 12,019,015 11,089,472
Creditors: Amounts Falling Due After More Than One Year 9 (336,978 ) (315,552 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 11 (1,043,092 ) (950,499 )
NET ASSETS 10,638,945 9,823,421
CAPITAL AND RESERVES
Called up share capital 12 50,205 50,205
Revaluation reserve 15 1,421,395 1,421,395
Profit and Loss Account 9,167,345 8,351,821
SHAREHOLDERS' FUNDS 10,638,945 9,823,421
Page 1
Page 2
For the year ending 31 October 2024 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Lewis Pritchard
Director
06/06/2025
The notes on pages 3 to 9 form part of these financial statements.
Page 2
Page 3
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 5-6 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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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
...CONTINUED
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2.7. Financial Instruments - continued
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.
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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are 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. Average Number of Employees
Average number of employees, including directors, during the year was: 34 (2023: 37)
34 37
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4. Tangible Assets
Land & Property
Freehold Leasehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 November 2023 3,000,000 1,713,940 2,092,223 637,326 7,443,489
Additions - - 974,718 23,662 998,380
Disposals - - (642,042 ) - (642,042 )
As at 31 October 2024 3,000,000 1,713,940 2,424,899 660,988 7,799,827
Depreciation
As at 1 November 2023 - 554,562 1,420,754 568,032 2,543,348
Provided during the period - 153,218 444,329 18,591 616,138
Disposals - - (476,952 ) - (476,952 )
As at 31 October 2024 - 707,780 1,388,131 586,623 2,682,534
Net Book Value
As at 31 October 2024 3,000,000 1,006,160 1,036,768 74,365 5,117,293
As at 1 November 2023 3,000,000 1,159,378 671,469 69,294 4,900,141
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 2024. 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 2024 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:
2024 2023
£ £
Motor Vehicles 564,233 222,698
5. Investment Property
2024
£
Fair Value
As at 1 November 2023 and 31 October 2024 770,000
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 997,496 997,496
Accumulated depreciation and impairment 944,736 926,004
Carrying amount 52,760 71,492
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6. Investments
Unlisted
£
Cost
As at 1 November 2023 6,250
As at 31 October 2024 6,250
Provision
As at 1 November 2023 -
As at 31 October 2024 -
Net Book Value
As at 31 October 2024 6,250
As at 1 November 2023 6,250
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,394,882 989,092
Prepayments and accrued income 3,399,669 2,578,779
Other debtors 1,507,049 1,509,204
Corporation tax recoverable assets 77,734 77,734
Directors' loan accounts - 145,254
6,379,334 5,300,063
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 94,693 90,464
Bank loans and overdrafts 48,698 48,698
Corporation tax 78,527 270,346
Other taxes and social security 36,191 44,807
VAT 181,069 189,192
Other creditors 61,595 61,802
Other trade creditors 423,188 387,794
Accruals and deferred income 22,147 23,790
Directors' loan accounts 218,886 4,140
1,164,994 1,121,033
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9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 70,443 2,250
Bank loans 266,535 313,302
336,978 315,552
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 (2023: £48,698)
- Due between 1 - 2 years £154,683 (2023: £154,683)
- Due between 2 - 5 years £111,852 (2023: £158,619)
- Due after 5 years £nil (2023: £nil)
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 94,693 90,464
Later than one year and not later than five years 70,443 2,250
165,136 92,714
165,136 92,714
11. 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 £277,783 (2023: £185,191)
Revaluations       £762,550 (2023: £762,550)
Retirement benefit obligations   £2,758 (2023: £2,758) 
2024 2023
£ £
Other timing differences 1,043,092 950,499
12. Share Capital
2024 2023
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
2024 2023
Allotted, called up and fully paid £ £
200 Preference Shares of £ 1.00 each 200 200
13. 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 £50,856 (2023: £229,119).
14. Directors Advances, Credits and Guarantees
Dividends totalling £423,625 (2023 - £326,000) were paid in the year in respect of shares held by the company's directors.
15. Reserves
Revaluation Reserve
£
As at 1 November 2023 1,421,395
As at 31 October 2024 1,421,395
16. Related Party Transactions
Included within other debtors is an amount totaling £250,780 (2023 : £244,810) 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 (2023 : £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 (2023 : £850,001) owed to the company by Dartmouth Caravan Park 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 £240,000 per annum (2023 : £200,000). At the year end the amount outstanding was £237,172 (2023: £237,172).
Included within other operating income are management charges received totaling £1,303,794 (Being £498,000 invoiced and £805,794 accrued) (2023 : £1,672,171  (Being £498,000 invoiced and £1,174,171 accrued) made to Cheetah Couriers Limited, at fair market rate, a company owned by the directors J M Pritchard and L J Pritchard.
17. 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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