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 (2022 - £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 £286 (2022 - £116).
Mrs M Sheppard (Director)
Included within other creditors is a loan from Mrs M Sheppard of £100,000 (2022 - £100,000). This loan bears interest at 10%. The total interest paid in the year on the loan was £10,000 (2022 - £9,973). In addition, in other creditors is a director's current account with a credit balance at the year end of £8,552 (2022 - £1,859). At the balance sheet date, the net amount due to Mrs Sheppard was £108,552 (2022 - £101,859).
Mr P Sheppard (Director)
Included in other creditors is a director's current account with a credit balance at the year end of £21,965 (2022 - £16,010). At the balance sheet date, the net amount due to Mr Sheppard was £21,965 (2022 - £16,010).