CONTROL
Throughout the current and previous year the company was controlled by the directors. The ultimate controlling entity is Indigo 7 Ventures Limited.
TRANSACTIONS
During the year, the company made advances of £448,139 and received credits from the ultimate controlling entity of £3,019,257 which resulted in amounts due to the ultimate controlling entity at the year end of £5,432,932 (2022 - £2,861,814).
TRANSACTIONS WITH RELATED PARTIES
During the year, credits were received from a director of £716,921 and advances of £175,000 were made which resulted in amounts due from the company at the year end of £1,307,020 (2022 - £765,099).
During the year, the company made advances to Recruitment Ventures Limited, a company with common directors, of £570,706 and received credits of £604,480 and have debtors due of £16,257 which resulted in amounts due to the company at the year end of £271,218 (2022 - £288,735).
During the year, the company made advances to Aurora Energy Services Ltd, a company with common directors, of £3,519,498 and received credits of £3,236,131 and have debtors due of £213,074, which resulted in amounts due to the company at the year end of £572,841 (2022 - £76,400).
During the year, the company made advances to R&M Engineering (Huntly) Limited, a company with common directors, of £911,840 and received credits of £504,995 which resulted in amounts due to the company at the year end of £406,845 (2022 - £Nil).
During the year, the company made advances to Ingenii Resource Limited, a company with common directors, of £17,206 and received credits of £5,404 which resulted in amounts due to the company at the year end of £12,802 (2022 - £1,000).
During the year, the company made advances to Roundr Realtor Ltd, a company with common directors, of £13,824 which resulted in amounts due to the company at the year end of £13,824 (2022 - £Nil).
During the year, the company made advances to Resource Design Ltd, a company with common directors, of £385 which resulted in amounts due to the company at the year end of £385 (2022 - £Nil).
During the year, the company made advances to Renquip Limited, a company with common directors, of £27,296 and received no credits which resulted in amounts due to the company at the year end of £27,296 (2022 - £Nil).
The loans are unsecured and interest free with no fixed repayment terms in place.