14.
Related Party Transactions
Delta Technology Group LimitedParent companyDuring the year, Delta Technology Group Limited was repaid inter-company loans by associates of Northern Aqua Power (Manchester) Limited amounting to £103,581 (2016 £319,076 paid by Delta Technology Group Limited). The balance owing at the year end is £215,595 (2016 £319,176).
Delta Technology Group Limited
Parent company
During the year, Delta Technology Group Limited was repaid inter-company loans by associates of Northern Aqua Power (Manchester) Limited amounting to £103,581 (2016 £319,076 paid by Delta Technology Group Limited). The balance owing at the year end is £215,595 (2016 £319,176).
Northern Marine Power LimitedFellow subsidiaryDuring the year, Northern Aqua Power (Manchester) Limited made recharges to Northern Marine Power Limited of £7,233 (2016 £nil) and received recharges of £2,240 (2016 £12,131). Sales were received, on behalf of Northern Marine Power Limited, amounting to £701 (2016 £nil) and payments of £17,562 (2016 £nil) were made to Northern Marine Power Limited's suppliers. Monies were transferred from Northern Sea Power Limited of £468,750 (2016 £nil) and Northern Marine Power Limited paid £500,603 (2016 £nil) to the company. Monies were transferred from Delta Technology Group Limited of £36,584 (2016 £nil) to repay the inter-company loans. The balance owed at the year end is £nil (2016 £26,584).
Northern Marine Power Limited
Fellow subsidiary
During the year, Northern Aqua Power (Manchester) Limited made recharges to Northern Marine Power Limited of £7,233 (2016 £nil) and received recharges of £2,240 (2016 £12,131). Sales were received, on behalf of Northern Marine Power Limited, amounting to £701 (2016 £nil) and payments of £17,562 (2016 £nil) were made to Northern Marine Power Limited's suppliers. Monies were transferred from Northern Sea Power Limited of £468,750 (2016 £nil) and Northern Marine Power Limited paid £500,603 (2016 £nil) to the company. Monies were transferred from Delta Technology Group Limited of £36,584 (2016 £nil) to repay the inter-company loans. The balance owed at the year end is £nil (2016 £26,584).
Northern Sea Power LimitedFellow subsidiaryDuring the year, the company made recharges to Northern Aqua Power (Manchester) Limited of £41,997 (2016 £41,659) and transferred monies of £10,000 (2016 £15,000). Monies were transferred from Delta Technology Group Limited amounting to £51,997 (2016 £317,056 transferred to Delta Technology Group Limited) to repay the inter-company loans. The balance owing at the year end is £nil (2016 £nil).
Northern Sea Power Limited
Fellow subsidiary
During the year, the company made recharges to Northern Aqua Power (Manchester) Limited of £41,997 (2016 £41,659) and transferred monies of £10,000 (2016 £15,000). Monies were transferred from Delta Technology Group Limited amounting to £51,997 (2016 £317,056 transferred to Delta Technology Group Limited) to repay the inter-company loans. The balance owing at the year end is £nil (2016 £nil).
The loans are interest free with no fixed plans for repayment.