The worldwide coronavirus (COVID-19) pandemic developed rapidly during 2020. Nationwide measures taken to contain the virus have affected economic activity and although some businesses have felt a positive impact, the majority have been trading under challenging conditions.
Whilst the full impact of COVID-19 is not yet known, the directors have reviewed and considered relevant information in assessing the company’s ability to trade going forward, they have concluded that the financial statements should be prepared on a going concern basis.
At the year end the company had current liabilities of £77,533 (2022 :£76,115). Included within creditors are amounts totalling £76,538 (2022: £74,804) with relate to loans made to the company by the director. These amounts will not be fully repayable within 12 months of the year end, which will enable the company to meet liabilities as they fall due.