The Board assessed the viability of the association in May 2021 using a long-term financial forecast of the organisation’s income & expenditure, capital investment, working capital management, the repayment profiles of existing debt and any refinancing required as a consequence. The Board is, to the best of its knowledge, satisfied that covenant compliance is maintained throughout the course of the plan thus confirming the future viability of the association. After making enquiries, the Board has reasonable expectation that the association has adequate resources to remain in operational existence for a period of at least 12 months from the date of approval of the financial statements. The association has considerable financial resources together with long-term cash-generating assets. As a consequence, the Board is satisfied that the association is well placed to manage its business risks successfully. For this reason, it continues to adopt the going concern basis in preparing the association’s financial statements. No material uncertainties related to events or conditions that may cause significant doubt about the ability of the association to continue as a going concern have been identified by key management personnel after considering the relevant facts and circumstances. VIABILITY STATEMENT 30 ARHAG
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