The financial statements have been prepared on a going concern basis. At the balance sheet date, the company had net liabilities. The directors are confident that the company is able to continue in operational existence for the foreseeable future, due to the continued financial support of a director.
The director has confirmed that they will not seek repayment of any existing loan balance within 12 months of the date of approval of these financial statements and intends to provide financial support for the company if required.
Accordingly, the directors consider it appropriate to prepare the accounts on a going concern basis.