The company has entered into the following transactions with entities under the common control of the sole director and shareholder:
• DSG Property Management Ltd:
At 31 August 2024, a loan of £61,142 was outstanding and receivable from DSG Property Management Ltd (2023: the company owed DSG Property Management Ltd £38,860). The balance is interest-free, unsecured, and repayable on demand. There is no formal repayment agreement in place.
• Prospects Assured (UK) Ltd:
At both 31 August 2024 and 31 August 2023, the company owed £174,080 to Prospects Assured (UK) Ltd. This loan is also interest-free, unsecured, and repayable on demand, with no formal repayment terms.
All transactions were carried out on a non-commercial basis and not at arm’s length. No provisions for doubtful debts have been made in relation to these balances.