During the year the trade, assets and liabilities of the company's only trading subsidiary Babble Cloud (BRY) Limited, were hived across to Babble Cloud Limited, a fellow group company. Following the transaction, it is the intention of the directors to liquidate the company, pending the resolution of some outstanding administration matters.
The parent company has indicated its abliity and intention to continue to financially support the company through the wind-down process. As a consequence, at the time of signing these financial statements, the company's forecasting shows that it remains adequately capitalised and solvent to finalise its liquidation without external assitance. This information, and an assessment of the financial resources available to the entity, leave the directors confident that the company can be wound down in an orderly and solvent manner in due course.
These accounts are therefore presented on a basis other than going concern, with the company expecting to conclude liquidation proceedings within twelve months of the signing of these financial statements.
There were no effects as a reult of these financial statements being prepared on a basis other than going concern.