An analysis of the maturity of loans is given below:
2023 2022
£ £
Amounts falling due within one year or on demand:
Bank loans 36,000 30,408
Other loans 23,416 23,416
_______ _______
59,416 53,824
Amounts falling due between one and two years:
Bank loans - 1-2 years 36,000 30,408
Other loans - 1-2 years 10,000 10,000
_______ _______
46,000 40,408
Amounts falling due between two and five years:
Bank loans - 2-5 years 108,000 91,224
Other loans - 2-5 years 10,834 20,834
________ ________
118,834 112,058
2023 2022
£ £
Amounts falling due in more than five years:
Repayable by instalments ________ ________
Bank loans more 5 yr by instal 61,915 110,120
A commercial mortgage is secured against the freehold property and workshop. The loan has a variable interest rate, currently 7.82%, and matures on 29 June 2032. The amount outstanding at the year end is £ 241,915 (2022 £ 262,160).