If your company is audited, or is heading for a sale or investment, a clean paper trail for your borrowing saves time and builds confidence. It’s easy to keep as you go.
What an audit trail needs
- The agreement and Key Information Sheet setting the terms.
- A run of statements covering the period under review.
- The year-end balance and total interest for each year.
- Any settlement confirmation for a closed facility.
Keeping it effortless
Download each statement monthly and file it by year; keep the KIS and agreement alongside. Because the figures are fixed and every movement is dated, the trail reconciles cleanly — an auditor’s dream. Retain records for at least six years. If your accountant has a read-only login, they can pull anything missing without a request to us.
Your facility is priced with simple interest and the figures fixed up front on your Key Information Sheet, so nothing here changes what you owe by surprise — it only changes how you view, manage or evidence it.
See also: Keeping statements for Companies House and audit, How long to keep your statements, How to put together a year-end pack.