The Company has net current liabilities and net liabilities at the reporting date and is therefore dependent on the continued financial support of its ultimate parent company, Silver Maple Limited, in order to meet its financial obligations as they fall due. Silver Maple Limited has confirmed its intention to continue to provide financial support to the Company, including the provision of further funds as required and that balances due to the wider Silver Maple group will not be called for repayment unless the Company has sufficient resources to meet those repayments whilst continuing to meet its other obligations.
In assessing the appropriateness of the going concern basis of preparation, the Director has considered the Company’s forecasts and available financial resources for a period of at least twelve months from the date of approval of these financial statements. On the basis of this assessment and the continuing financial support of Silver Maple Limited, the Director considers that the Company will have sufficient resources to meet its liabilities as they fall due throughout that period.
Accordingly, the Director has prepared the financial statements on the going concern basis.