for the Period Ended 31 December 2019
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 December 2019
Additional information
GOING CONCERNThe financial statements have been prepared on a going concern basis which the Directors consider to be appropriate for the following reasons. The Directors have prepared cash flow forecasts to March 2022 (a period of 12 months from the date of approval of these financial statements) which indicate that, taking account of reasonably possible downsides and the anticipated impact of COVID-19 on the operations and its financial resources, the Company will have access to sufficient funds to meet its liabilities as they fall due for that period. In coming to this conclusion, the Directors have considered the following: The Company has received confirmation from its ultimate parent, Relex Oy, of its intention to continue to make available such funds as are needed by the Company and has indicated that it does not intend to seek repayment of the amounts due at the balance sheet date, for a period of at least 12 months. Based on the cash flow forecasts for the base case and the severe but plausible case, the Directors concluded that the company has sufficient funding to meet its cash flow requirements based on additional funding from its ultimate parent. The COVID-19 pandemic has not had a significant impact on the operations or finances of the Company.As with any company placing reliance on other group entities for financial support, the directors acknowledge that there can be no certainty that this support will continue although, at the date of approval of these financial statements, they have no reason to believe that it will not do so. However, whilst the ultimate parent has indicated its intention to continue to make available such funds as needed by the Company for the period covered by the forecasts, the Directors do not have sufficient financial information regarding the ultimate parent’s ability to provide such support. Based on these indications the Directors believe it remains appropriate to prepare the financial statements on a going concern basis. However, the continued availability of sufficient funding to the Company represents a material uncertainty that may cast significant doubt on the Company’s ability to continue as a going concern and, therefore, to continue realising its assets and discharging its liabilities in the normal course of business. The financial statements do not include any adjustments that would result from the basis of preparation being inappropriate.
Directors
The directors shown below have held office during the whole of the period from
1 January 2019 to 31 December 2019
The director shown below has held office during the period of
1 January 2019 to 29 January 2019
The director shown below has held office during the period of
21 October 2019 to 31 December 2019
The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006
This report was approved by the board of directors on
And signed on behalf of the board by:
Name:
Status: Director
for the Period Ended
2019 | 2018 | |
---|---|---|
| £ | £ |
Turnover: | | |
Cost of sales: | | |
Gross profit(or loss): | | |
Administrative expenses: | ( | ( |
Operating profit(or loss): | ( | ( |
Profit(or loss) before tax: | ( | ( |
Profit(or loss) for the financial year: | ( | ( |
As at
Notes | 2019 | 2018 | |
---|---|---|---|
| £ | £ | |
Current assets | |||
Debtors: | 3 | | |
Cash at bank and in hand: | | ||
Total current assets: | | | |
Creditors: amounts falling due within one year: | 4 | ( | ( |
Net current assets (liabilities): | ( | ( | |
Total assets less current liabilities: | ( | ( | |
Total net assets (liabilities): | ( | ( | |
Capital and reserves | |||
Called up share capital: | | | |
Share premium account: | | | |
Other reserves: | ( | ( | |
Profit and loss account: | ( | ( | |
Total Shareholders' funds: | ( | ( |
The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 December 2019
Basis of measurement and preparation
Other accounting policies
for the Period Ended 31 December 2019
2019 | 2018 | |
---|---|---|
Average number of employees during the period | | |
for the Period Ended 31 December 2019
2019 | 2018 | |
---|---|---|
£ | £ | |
Other debtors | | |
Total | | |
for the Period Ended 31 December 2019
2019 | 2018 | |
---|---|---|
£ | £ | |
Bank loans and overdrafts | | |
Trade creditors | | |
Other creditors | | |
Total | | |