The financial statements to 31 August 2024 showed shareholders funds amounting to £161,191. However, included in debtors is an amount of £217,606 owed by the holding company, Monkbury Holdings Limited. The holding company's only asset is its investment in Monkbury Limited and as such it does not have sufficient resources at 31 August 2024 to settle its liability to the company. The director, Mr TJ Barnett, to whom an amount of £66,824 is owed by the company, has pledged her continuing financial support to the company by not calling for settlement of amounts owed to her until such time as the company has sufficient working capital.
The director has not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.