The financial statements have been prepared on a going concern basis. The directors have considered the company's financial position, cash flow forecasts, and future prospects in the context of the risks and uncertainties arising from the current economic environment.
In making this assessment, the directors have taken into account all available information about the future, covering a period of at least 12 months from the date of approval of these financial statements. This assessment includes a review of the company's cash flow forecasts and other projections, as well as an evaluation of the company's borrowing facilities and other available financial resources.
The directors acknowledge that there are uncertainties, which may cast doubt upon the company's ability to continue as a going concern. Despite these uncertainties, the directors believe that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore, they continue to adopt the going concern basis in preparing the annual financial statements.
The directors have a reasonable expectation that the company will be able to meet its liabilities as they fall due and to operate within the available cash and borrowing facilities.