The company reported a £1 loss and has net liabilities of £1,548,786. The director is required to prepare these financial statements on a going concern basis unless it is inappropriate to presume the company will continue in business. In satisfaction of this responsibility, the director has considered the company’s ability to meet its liabilities as they fall due for a period of at least twelve months from the signing date of the financial statements.
The director did not identify any uncertainty that cast significant doubt about the ability of the company to continue as a going concern. Group has confirmed that they will support this company for a period of at least a year from signing these financial statements.
On that basis, the Director is satisfied that the company is able to continue in operation and meet its debts as they fall due for at least a year from the date of signing these financial statements and therefore the financial statements have been prepared on a going conern basis.