| (i) The company trades from properties in Redruth, Camborne and Bodmin which are owned personally two of the directors, Mr J H and Mrs J E Smyth. No formal lease agreement is held by the company. The total annual rent charged in the year for the use of the properties is £34,806 (2022: £35,006).
(ii) The company trades from a property in Penzance which is owned by a family trust established by two of the directors for the benefit of their children and grandchildren. A number of the beneficiaries are now employed by the company, and two of the beneficiaries were appointed as directors in October 2003. One subsequently resigned in October 2007. There is no formal lease between the company and the trust. The property is occupied on rent free terms.
(iii) Goods taken from the shops by the directors are charged at retail value to the directors current account balances. At the end of the year, the company owed the directors Mr J H and Mrs J E Smyth £1,306 (2022: £6,698 owed from the directors to the company), repayable on demand. |