During the year fees for property management services amounting to £10,000 (2022: £10,000) were charged by Crest Property Management Limited, a related entity.
Working capital loans are advanced between the company and related parties from time to time.
Included in Debtors (note 5) is £104,283 (2022: £100,839) owed by Crest Property Management Limited, and £5,286 (2022: £Nil) owed by Forward Construction and Developments Limited, a related entity.
Included within Creditors: amounts falling due within one year (note 6) £3,696 (2022: £7,281) owed to The Forward Property Group Limited, a related entity.
These above companies are related by virtue of a common directorship.
All of these loans with related companies have no fixed repayment terms and interest is not charged.
Included in Creditors: amounts falling due within one year (note 6) are loans from directors totalling £97,082 (2022: £217,082). No interest is charged on these loans.
Included in Creditors: amounts falling due after more than one year (note 7) are loans from directors totalling £1,400,000 (2022: £1,400,000). No interest is charged on these loans.