Director's Loan
The Director, Mr Martin Barks provided a working capital loan to the company during the year to meet company expenses. The balance outstanding to the Director as at 31st October 2023 was £11,634 (2022 £12,074). The loan has no prescribed method of repayment and attracts no interest. This amount is included under the classification of Liabilities.
Bounce Back Loan
Before the year, the business took a Bounce Back Loan due to the uncertainty of the economic climate. A total of £5,175 is repayable and is shown under the classification of liabilities.