£441,638 (2023: £441,570) of this balance relates to the mortgages on the investment properties with Charter Court Financial Services Limited. The mortgages are interest-only with no capital repayments, and incur interest at 3.5%. The remaining mortgage terms are 21 years on all properties.
Other creditors as at 30 November 2024 of £270,000 (2023: £270,000) comprised:
The Practical Ciso Limited - £135,000 (2023: £135,000)
Michael Bray (Director) - £67,500 (2023: £67,500)
Gemma Bray - £67,500 (2023: £67,500)
The loan balances owed to The Practical Ciso Ltd, Michael Bray and Gemma Bray remained unchanged from the previous year.
The loans are unsecured, interest-free and with no fixed terms of repayment.