| For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
During the period the company was loaned money by Panelox Systems Limited, a company incorporated in England & Wales in which Mr. Marek Simoncic has a beneficial interest. At the end of the period the loan amount owed to Panelox Systems Limited by SHC Solutions Limited was £222,501. This amount was deemed irrecoverable and written off in the year
During the period the company made loans to Eco Massive House Limited, a company incorporated in England & Wales in which Mr. Marek Simoncic has a beneficial interest. At the end of the period the loan amount owed by Eco Massive House Limited to SHC Solutions Limited was 109,961 (2023: £181,431). This amount was deemed irrecoverable and written off in the year
During the period the company was loaned money by The Building Material Shop Limited, a company incorporated in England & Wales in which Mr. Marek Simoncic has a beneficial interest. At the end of the period the loan amount owed to The Building Material Shop Limited by SHC Solutions was £30,396. This amount was deemed irrecoverable and written off in the year |