Bank Loan
The business took a £15,000 bank loan in the year to aid working capital. As of the year end, an amount of £19,811 remained repayable. This amount is included under the classification of Liabilities.
Director's Loan
The Director, Mr Joseph Masini provided a working capital loan to the company during the year to meet company expenses. The balance outstanding to the Director as at 31st August 2024 was £2,259 (2023 £7,910). The loan has no prescribed method of repayment and attracts no interest. This amount is included under the classification of Liabilities.