The company continues to trade at a loss and its liabilities exceed its assets. Revenues are increasing year on year and the directors have confidence that the company will make profits. Comay funding is provided by the company owners, who are also the company directors. While these loans are interest free, they are repayable on demand, which in the current circumstances would not be possible, as the company has insufficient funds and assets, to cover the loans.The lenders are aware of the position and are confident that the company remains a going concern.
Loans to the company from the directors are interest free and repayable on demand.They are included in the balance sheet within "Creditors: Amounts falling due within one year"
Balances at financial year owed to each director are
Mr Timothy Takacs £245,795 (2022: £211,989)
Ms Wei-Chun Lin £137,864 (2022: £139,065)