The Company has a related party relationship with Bactalogical Group Ltd, as the director and sole shareholder of Liquid Hygiene Ltd is also a shareholder of Bactalogical Group Ltd. During the year, the company held a loan receivable from Bactalogical Group Ltd.
The loan balance at the balance sheet date was £110,000 and is included within amounts owed by associates. Interest is charged at a fixed rate of 2% per annum. At the balance sheet date, accrued interest of £2267 was outstanding.
The loan is unsecured and repayable in accordance with the terms of a formal loan agreement.