| For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
Transactions occurred between the company and associated companies owned by the director/shareholder. The transactions relating to purchases and sales are deemed to be at arms length.
Net transactions amounting to £21,445 of income between the company and KBC Altrincham LTD.
Net transactions amounting to £11,737 of income between the company and KBC Cornershop LTD.
Net transactions amounting to £58,009 of expenses between the company and Kickback Coffee Roasters Limited. Management charges of £24,000 were accrued for during the year. An amount remained outstanding at the year end amounting to £29,730.
An amount was owed out to Kickback Coffee Roasters Limited at the year end amounting to £13,211 in relation to a company to company loan. |