During the year, the company entered into the following transactions with related parties:
Owners holding a participating interest
The company made loan repayments to Miss K Reid, the sole director and shareholder, on an interest-bearing loan totalling £4,982 (2023: £4,691). At the reporting date, the outstanding loan balance was £10,910 (2023: £15,892). The maximum balance outstanding during the year was £15,892 (2023: £20,583).
This amount is subject to interest at 6.03%, unsecured and repayable in monthly instalments until February 2026.
The company also received other loans from Miss K Reid totalling £7,862 (2023: £2,913). At the reporting date, the outstanding loan balance was £3,244 (2023: £2,380). The maximum balance outstanding during the year was £3,244 (2023: £2,380).
This amount is interest-free, unsecured and repayable on demand.