The financial statements have been prepared on the going concern basis. In reaching this conclusion, the directors have considered the financial position of the company, including the losses incurred during the year and the company's reliance on continued financial support from the directors.
The company has experienced trading losses and is dependent on director funding to meet its liabilities as they fall due. The directors have confirmed their intention to continue to provide such financial support for a period of not less than 12 months from the date of approval of these financial statements, and to not seek repayment of amounts owed to them during that period.
Having considered the available information, the directors are satisfied that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.