During the year the companycontinued a loan relationship with an unconnected third party at arms length and on commercial terms. Interest is accruing on the loan daily at APR of 5% and the balance is being carried in the accounts under other debtors. As at 30th April 2024, the balance was £92,891 (2023: £119.769). Also during the year company provided interest free loan to Narcor developments. As at 30th April 2024, the balance stood at £270.00 (2023: £NIL)
During the year the company borrowed money from an associated company under common control of the director. As at 30th April 2024, the balance stood at £164,000 (2023: £154,000). No interest is beng incurred on this loan, nor are there any repayment terms specified.
During the year the company also provided an interest-free loan to D D Racing Limited, a company not connected to the director and maintained at arms length. As at 30th April 2024 the balance stood at £NIL (2023: 20,946).