The directors have assessed the company’s financial position and cash flow projections, including the expected property sales and subsequent cash inflows. Based on these projections, and the availability of financing, the directors have a reasonable expectation that the company will be able to meet its liabilities as they fall due and, therefore, continue to operate as a going concern for at least the next 12 months
The directors anticipate that the sale of the properties under development will generate sufficient proceeds to cover both the loan obligations and current liabilities, thus reversing the current net liability position. The timing of these sales is expected to coincide with the completion of the projects in the next financial period.
The director's current account reflects an overdrawn balance at the balance sheet date. This balance represents funds withdrawn by the director that are due to be repaid to the company. In line with the Companies Act 2006, the overdrawn balance will either be repaid or settled through dividends or other appropriate means, contingent on the company's financial