14.
Related Party Transactions
Delta Technolgoy Group LimitedParent companyDuring the year, Delta Technology Group Limited repaid inter-company loans to associates of Northern Aqua Power (Manchester) Limited amounting to £13,890 (2017 £103,581 paid to Delta Technology Group Limited). The balance owing at the year end is £229,485 (2017 £215,595).
Delta Technolgoy Group Limited
Parent company
During the year, Delta Technology Group Limited repaid inter-company loans to associates of Northern Aqua Power (Manchester) Limited amounting to £13,890 (2017 £103,581 paid to Delta Technology Group Limited). The balance owing at the year end is £229,485 (2017 £215,595).
Northern Sea Power LimitedFellow subsidiaryDuring the year, the company made recharges to Northern Aqua Power (Manchester) Limited of £nil (2017 £41,997), received recharges of £6,999 (2017 £nil) and transferred monies of £nil (2017 £10,000). Monies were transferred from Delta Technology Group Limited amounting to £6,999 (2017 £51,997) to repay the inter-company loans. The balance owing at the year end is £nil (2017 £nil).
Northern Sea Power Limited
Fellow subsidiary
During the year, the company made recharges to Northern Aqua Power (Manchester) Limited of £nil (2017 £41,997), received recharges of £6,999 (2017 £nil) and transferred monies of £nil (2017 £10,000). Monies were transferred from Delta Technology Group Limited amounting to £6,999 (2017 £51,997) to repay the inter-company loans. The balance owing at the year end is £nil (2017 £nil).
Northern Marine Power LimitedFellow subsidiaryDuring the year, Northern Aqua Power (Manchester) Limited made recharges to Northern Marine Power Limited of £7,036 (2017 £7,233) and received recharges of £10,086 (2017 £2,240). Sales were received, on behalf of Northern Marine Power Limited, amounting to £186,092 (2017 £701) and payments of £6,179 (2017 £17,562) were made to Northern Marine Power Limited's suppliers. Monies were transferred from Northern Sea Power Limited of £189,853 (2017 £468,750) and Northern Marine Power Limited paid £nil (2017 £500,603) to the company. Monies were transferred from Delta Technology Group Limited of £6,890 (2017 £36,584) to repay the inter-company loans. The balance owed at the year end is £nil (2017 £nil).
Northern Marine Power Limited
Fellow subsidiary
During the year, Northern Aqua Power (Manchester) Limited made recharges to Northern Marine Power Limited of £7,036 (2017 £7,233) and received recharges of £10,086 (2017 £2,240). Sales were received, on behalf of Northern Marine Power Limited, amounting to £186,092 (2017 £701) and payments of £6,179 (2017 £17,562) were made to Northern Marine Power Limited's suppliers. Monies were transferred from Northern Sea Power Limited of £189,853 (2017 £468,750) and Northern Marine Power Limited paid £nil (2017 £500,603) to the company. Monies were transferred from Delta Technology Group Limited of £6,890 (2017 £36,584) to repay the inter-company loans. The balance owed at the year end is £nil (2017 £nil).
The loans are interest free with no fixed plans for repayment.