As at 31 January 2025, the company’s liabilities include balances that reflect support from the owners and a related party company, rather than conventional third-party debt.
In particular:
* An amount of £643,625 is owed to the owners by way of long-term funding per note 8. This is not subject to fixed repayment terms, and the company does not currently anticipate repayment in the foreseeable future.
* An amount of £158,959 is owed to the owners per note 7 but this is not subject to fixed repayment terms, and repayment is not expected in the short to medium term.
* A further £68,410 is owed to a related party company under “Other Creditors” per note 7. This funding was provided on a supportive basis, with no fixed repayment terms, and again, repayment is not expected in the short to medium term.
These balances are presented as liabilities for accounting purposes but should be understood as quasi-equity in nature. They do not represent external or commercial debt and are not expected to result in cash outflows that would impair the company’s ability to meet its operational or financing obligations.
This context is relevant when assessing the company’s gearing and overall financial position.