CONTROL
Throughout the current and previous year the company was controlled by the directors. The ultimate controlling entity is Indigo 7 Ventures Limited.
TRANSACTIONS
During the year, the company made advances of £1,718,727 to the ultimate controlling entity and received credits of £1,238,352 which resulted in amounts due to the ultimate controlling entity at the year end of £4,929,648 (2023 - £5,410,023).
TRANSACTIONS WITH RELATED PARTIES
During the year, credits were received from a director of £120,470 and advances of £195,000 were made which resulted in amounts due from the company at the year end of £1,232,490 (2023 - £1,307,020).
During the year, the company made advances to a subsidiary of £20,453 which resulted in a loan balance due to the company at the year end of £275,414 (2023 - £254,961). There were also trade debtor balances of £40,204 (2023 - £16,257) at the year end. This resulted in total amounts due to the company at the year end of £315,618 (2023 - £271,218).
During the year, the company made advances to a company with common directors of £11,383 and received credits of £371,150 which resulted in a loan balance due to the company at the year end of £nil (2023 - £359,767). There were also trade debtor balances of £76,006 (2023 - £213,074) at the year end. This resulted in total amounts due to the company at the year end of £76,006 (2023 - £572,841).
During the year, the company received credits of £406,845 from another company with common directors which resulted in a loan balance due to the company at the year end of £nil (2023 - £406,845).
During the year, the company made advances to a fellow subsidiary with common directors of £2,470 which resulted in a loan balance due to the company at the year end of £15,272 (2023 - £12,802). There were also trade debtor balances of £560 (2023 - £nil) at the year end. This resulted in total amounts due to the company at the year end of £15,832 (2023 - £12,802).
During the year, the company made advances to another company with common directors of £24,092 which resulted in a loan balance due to the company at the year end of £37,916 (2023 - £13,824).
During the year, the company made advances to another company with common directors of £8,146 and received credits of £8,531 which resulted in a loan balance due to the company at the year end of £nil (2023 - £385). There were also trade debtor balances of £62,662 (2023 - £nil) at the year end. This resulted in total amounts due to the company at the year end of £62,662 (2023 - £385).
The loans are unsecured and interest free with no fixed repayment terms in place.