The Director has assessed the Company’s ability to continue as a going concern. Due to the decision by the ultimate parent company to restructure the group's operations, the Company has ceased trading and will proceed to a Members' Voluntary Liquidation (MVL) within 12 months of the approval of these financial statements.
Accordingly, these financial statements have been prepared on a basis other than as a going concern. No material adjustments were required to the carrying value of assets or liabilities as a result of this change in basis.
Solvency statement: The Director has received confirmation via the Company’s Insolvency Practitioner that the Ultimate Parent Company has committed to funding the solvent liquidation, enabling the Company to settle all outstanding liabilities in full. The Company therefore remains solvent for the purposes of the Members' Voluntary Liquidation