During the 2025 financial year, the company reported an operating loss. The directors acknowledge the continuing reliance on the financial support from investors in order to grow their asset fleet and to develop new products. The directors have been encouraged with the support that has been provided to the business from the public sector to date.
The directors have prepared financial projections through to August 2027 and they show there is sufficient working capital to fund the company should events go as planned. As previously noted, the directors recognise that the company requires further investment in order to continue to grow and operate. Significant funding was secured to provide working capital for the company for the 2025 financial year and subsequent years. The directors are continuing discussions with third parties with regards to securing further funding in 2026, to allow them to continue their expansion and provide working capital for the company as it expands its operations in the UK and overseas. Whilst the outcome of these discussions is inherently uncertain, the directors are prepared, at the time of signing these financial statements, to change the direction of the company to accommodate future funding outcomes for the long‑term financial security of the company.
In conclusion, notwithstanding the uncertainty noted above, the directors have a reasonable expectation that the company will obtain sufficient financial resources to meet liabilities as they fall due, for at least twelve months from the approval date of these financial statements. The directors therefore consider it appropriate to prepare the financial statements on a going concern basis.