Still working through the AFR, however think a quick comment is...

Still working through the AFR, however think a quick comment is warranted relative to what Fitnfam had to say about the “get out of jail card” for auditors contained in the going concern disclaimer.

The going concern disclaimer is that provided by the directors, and as such is one of the things that has to be signed off by the auditors.

In this context (without quoting all the figures) the auditors have concurred that the payment of trade payables and borrowings as stated and forecasted can be met within agreed terms by operational cash flows and existing cash resources.

The key is that the auditors have looked at the forecasted provisions and have concurred that if these are met, then the company will continue as a going concern.

If the auditors had any doubts about the veracity of the company to continue as a going concern from the data presented then a statement to this effect would have been required to be included in the audit report, and the fact is, it was not.

Whether the directors ensure the company sticks within the forecast provisions is another matter, and full scrutiny needs to be applied by shareholders on expenditure items and proposals contained in the next series of quarterly reports.