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 (2021 - £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 £116 (2021 - £116).
Mrs M Sheppard (Director)
Included within other creditors is a loan from Mrs M Sheppard of £100,000 (2021 - £100,000). This loan bears interest at 10%. The total interest paid in the year on the loan was £9,973 (2021 - £10,000). In addition, in other creditors is a director's current account with a credit balance at the year end of £1,859 (2021 - £16,738). At the balance sheet date, the net amount due to Mrs Sheppard was £101,859 (2021 - £116,738).
Mr P Sheppard (Director)
Included within other creditors is a loan from Mr P Sheppard of £Nil (2021 - £Nil). This loan bears interest at 5%. The total interest paid in the year on the loan was £Nil (2021 - £555). In addition, in other creditors is a director's current account with a credit balance at the year end of £16,010 (2021 - £34,055). At the balance sheet date, the net amount due to Mr Sheppard was £16,010 (2021 - £34,055).