During the year, the company entered into the following transactions with related parties:
Owners holding a participating interest
During the year, the company received loans from Mr S Sykes, a director and shareholder with a participating interest, totalling £15,860 (2023: £4,598). At the reporting date, the outstanding loan balance was £1,403 (2023: £2,668).
This amount is interest-free, unsecured and repayable on demand.
During the year, the company received loans from Mrs L Sykes, a director and shareholder with a participating interest and the spouse of Mr S Sykes, totalling £3,465 (2023: £13,068). At the reporting date, the outstanding loan balance was £1,728 (2023: £10,690).
This amount is interest-free, unsecured and repayable on demand.
For details of loans to directors, see the Directors' Advances, Credits and Guarantees note.