| The company ceased trading on 30 October 2023. In the prior year, the company remained open to facilitate the recovery of an outstanding loan of £52,558.83 due from a former director.
During the current financial year, the directors undertook a full review of the recoverability of this amount and, having exhausted all reasonable avenues, resolved to write off the balance in full. As a result, there are now no further trading operations or significant receivables expected.
The directors have accordingly reassessed the appropriateness of preparing the financial statements on a going concern basis. In light of the absence of ongoing business activity, and the company’s intention to wind down once all administrative matters are concluded, the directors consider it no longer appropriate to prepare the financial statements on a going concern basis.
These financial statements have therefore been prepared on a basis other than going concern, which includes the reclassification of assets and liabilities where relevant, and the recognition of any impairment losses arising from the decision to wind up the company. |