Intercompany Transactions
The company provides employment to UK based workers of its parent company. It's operating costs are limited to payroll, employee benefits and travelling expenses of these workers, and related costs such as supplying workspaces, equipment and software related to their roles within the wider group.
The parent company is a US incorporated entity with a UK permanent establishment. During the period, all of the parent's activities were conducted via it's UK permanent establishment.
The company does not make third party sales, total revenue for the period came from the recharge of costs to the parent company with no markup.
The parent company also provides working capital, the balance at period end is shown within the creditors note above.
Amounts owed to directors
At the end of the period, the company had explain claims incurred by a company director and not yet reimbursed, totalling £4,631.89. These amounts are included in other creditors above.