At the end of the period a loan balance of £1,680,000 (2023: £1,660,000) was owed by a company under common control of one of the directors. The loan bears interest at a current rate of 2.1% and is repayable on demand.
At the year-end there were three loan balances outstanding each to one of the directors that had balances and terms as follows:
- £684,999 (2023: £684,999) bearing interest at a rate of 3% and being repayable on demand
- £499,999 (2023: £499,999) bearing interest at a rate of 3% and being repayable on demand
- £499,999 (2023: £499,999) bearing no interest and being repayable on demand