Business
Further re: Annual Financial Report
Further re: Annual Financial Report.
About this update from Amala Foods Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 4995U\n Amala Foods PLC\n 03 December 2021\n \n \n \n \n --\n \n Amala Foods Plc\n \n \n \n \n (\n \n \"\n \n Amala\n \n \n \" or the \n \n \"\n \n Company\")\n \n \n \n \n \n \n Further Re: 2021 Annual Financial Report \n \n \n \n Amala Foods Plc (LON: DISH), a food technology company, is pleased to provide a copy of the Annual Financial Report for the Year Ended 31 March 2021 below this announcement in addition to being available via the National Storage Mechanism and on a PDF link in yesterday's announcement as well soon being available on the Company website.\n \n \n The Directors would like to highlight on page 11 that the Independent Auditors state \"In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Our evaluation of the directors' assessment of the Group's ability to continue to adopt the going concern basis of accounting included reviewing and challenging cashflow forecasts prepared by Management covering the going concern period, including the key assumptions made and discussing their strategies regarding future fund raises.\"\n \n \n The going concern period is the period of twelve months following the publication of the Annual Financial Report.\n \n \n The Company is aware that future fund raises will be required. The Company stated in yesterday's announcement that it has a low cash burn and utilises a Salary Sacrifice Scheme which ensures cash outlay is minimal. The Company is having active discussions with investors so that the business can continue to grow and will update the market during the first quarter of 2022. \n \n \n The Half-Yearly Report to 30 September 2021 is due to be published by the end of January 2022.\n \n \n \n \n \n \n \n \n Enquiries:\n \n \n \n \n \n Jonathan Morley-Kirk, Non-Executive Chairman\n \n [email protected] \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Directors \n \n Aidan Bishop Executive Director \n \n \n ...