I have incorporated a company in December last year, and since then we started making money but had no bank account. Because of the company structure, one of the shareholders who owned more than 25% was getting rejected by all banks due to his nationality. So we lowered his shares, and opened a bank account with Tide - a bank for small businesses.
Now we want to transfer this money into the bank account but how does one declare it? Do we wipe the slate clean and just issue out a personal loan to the company, from my name? If so, how can we do it, when we can't make cash or cheque transfers? The sum is not large; I'm sure it doesn't affect the process, but for anyone curious - it is under £1,000.
If not, what is the correct, legal procedure for solving this issue?