Director H Hiley owns the freehold premises and charge the company a rent of £20K per annum. Outstanding balance for the year was of £20,000(2023:100,000).
The company has debenture charge by the director Herbert Hiley dated 19 March 2019 for loan of £400K at the interest rate of 8% per annum. This debenture is charge over all fixed and floating assets of the company. No interest has charged over the year.
The company has debenture charge by the director Herbert Hiley dated 1st January 2019 for the loan of £200K at the interest rate of 11% per annum. This debenture is charge over all fixed and floating assets of the company. No interest has charged over the year.
The company has returned the stock back to the director valued of £1,604,459 dated 5th July 2023 and the debenture on the company was removed on 5th July 2023.