In previous years, the financial statements have been prepared on a going concern basis under the historical cost convention. However, on 1 December 2020, the directors took the decision that BPS Birmingham and Future Faces – the young professionals’ arm of Greater Birmingham Chambers of Commerce – will merge to create a larger, unified professional network for the region. Accordingly Business Professional Services Birmingham Limited will cease trading. The directors intend to undertake an orderly wind down of the Company and liquidate the company following the settlement of the remaining net assets. Accordingly, they have not prepared the financial statements on a going concern basis. As all amounts in the balance sheet are stated at their recoverable amount, this decision has had no impact on the financial statements.