The company has invested into basic financial instruments.
Financial instruments issued:
The comany issued basic financial instruments to investors. These instruments are 5-year bond notes issued at a fixed rate of interest of 9.85%. Interest is not provided for as a charge to the profit and loss statement. In the opinion of the director, it is not likely the company will pay interest due in whole or in part. A contingent liability is provided for elsewhere in these financial statements.
Investments in financial instruments:
These insrtuments are loan notes provided to financiers in peer-to-peer lenders. The instruments are accounted for at tranaction price. The true and fair market value cannot be reliably determined to be a figure different from cost. The interest received is a positive fixed rate. Interest is not provided for as a charge to the profit and loss statement. In the opinion of the director, it is not likely the company will receive interest it is due in whole or in part.