Other related party transactions
During the year the company made the following related party transactions:
Drillserve Limited Pension Fund
(Mr P Sheppard, who is a director of Drillserve Limited is also a beneficiary of Drillserve Limited pension fund).
Rent of £16,500 (2018 - £16,500) was paid into Drillserve Limited pension fund in respect of the year. At the balance sheet date the amount due from Drillserve Limited pension fund was £697 (2018 - £1,778).
Mr M Sheppard (Director)
Included within other creditors is a loan from Mrs M Sheppard of £92,000 (2018 - £70,500). This loan bears interest at 10%. The total interest paid in the year on the loan was £8,349 (2018 - £5,942). Set against this in other creditors is a director's current account with a credit balance at the year end of £5,805 (2018 - £2,723 debit balance). At the balance sheet date, the net amount due to Mrs Sheppard was £97,805 (2018 - £67,777).
Mr P Sheppard (Director)
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Included wihtin other creditors is a director's loan account. At the balance sheet date, the amount due to Mr P Sheppard was £12,124 (2018 - £6,003).