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Disclosure on a loan from a director to Ltd Co

Disclosure on a loan from a director to Ltd Co

Can anyone advise what the minimum disclosure is for the following:

Director loans £5000 to company as a start up and 8% interest is charged in  2011 (£166) and £441 charged in 2011

The director also claims travel expenses from the company (dispensation in place) but hasnt paid himself yet so there is a creditor at the year end of £6500.

Should each type of transaction be disclosed separately?


ie.  Included within other creditors is amount of £(5000 + 166 +441) which represents a loan from Mr x, director of the company. This balance includes interest charged at 8% of £441 (2011: £166)

Also included within other creditors is an amount of £x which represents business expenses paid privately due to Mr X

Is this sufficient for the full accounts? Am I correct in thinking that as its a loan from a director that I dont need to put anything in the abbreviated accounts?

Many thanks


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