During the year, the company declared and credited dividends totalling £60,500 to the directors. These dividends were not paid in cash and were offset against the directors’ loan accounts as follows:
- Mr Philip Pascoe: £60,000
- Mr Jonathan Pascoe: £500
Mr Jonathan Pascoe repaid £95,534 during the year, which is reflected in his Directors’ Loan Account. He had no outstanding loan balance at the end of the year.
Mr Philip Pascoe received £20,213.04 of dividends owed to him in cash, leaving a credit balance of £39,786.96 in his Directors’ Loan Account at the year-end.