No shareholders agreement. Only model articles. As far as I am concerned, the loans were never provided. I believe they were logged on the accounts to show an asset for the company for fca purposes as this is a regulated company. I always assumed the money I received was a dividend and not a loan.
No, there has never been a resolution to approve dividends. The business is a life asurance brokerage. Both myself and the other shareholder would sell policies to the public on behalf of the company, and then pay ourselves a level of money when the company received this (commission), usually on a weekly basis. The monies earned were always classed as dividends on the accounts for the year end. The company has never had any cash saving showing in the bank and therefore could never had provided a loan of any sort. I am no longer working at the company. I can only assume that the loans have been put on the accounts to show the business has assets, but this was never the case. I want to engage with the director regarding this, but he won't comply. Therefore I was wondering if I can demand an agm, so he will have to answer questions. I am concerned that if the company was wound up for any reason, that someone could come after me as I am showing as a debtor
Thank you Alex. You have been very helpful.
If I can't gain access to the business accounts, can I raise questions regarding these suspicious loans at the meeting. Surely by doing this, and if he declines to answer any questions, then surely this is evidence that I can keep if I ever need evidence, to say he would not discuss this with me. Perhaps he would sign written minutes to our meeting.