The company receives rents for hire of equipment and rental property and Consultancy from a company related by common control and ownership to a key member of the board of directors. This totalled 2023 - £181,347 (2022 - £171,584)
At the statement of financial position ending 31st December 2022 the Company owed an interest free loan to a family member to key members of the board. This loan is attracts interest at a rate of 10% and repayable on demand with no agreed repayment terms. The value of this loan is 2023 - £61,000 (2022 - £61,000). During the year total interest charged was 2023 - £6,100 (2022 - £4,245). The Directors beleive this to represent market rate.
During the financial year, the Company paid interest to Directors of the Company for loans introduced to the Company. These loans are repayable after one year with no agreed repayment date, a rate of interest is charged of 8% above the Bank of England base rate during the financial year interest was paid totalling 2023 - £65,436 (2022- £48,737).