During the year, the company sold its client base, business operations and substantially all of its operating equipment. The directors intend to cease the company’s remaining activities and close the company in the near future.
The directors therefore consider that it is not appropriate to prepare the financial statements on the going concern basis. The financial statements have been prepared on a basis other than going concern.
Assets have been stated at the amounts they are expected to realise and liabilities have been recognised at the amounts expected to be required to settle them. Provision has been made for closure-related costs only where a legal or constructive obligation existed at the reporting date.