Ellerman City Liners Limited

The principal activity of the company in the year under review was that of container shipping. GOING CONCERN The Directors have considered the application of the going concern basis of accounting and have assessed the expected future financial performance of the entity from the date of this report to 31 December 2026. The Company has net current liabilities and a balance sheet deficit. In light of this, the Company has obtained a letter of support from its immediate parent company, confirming that it will take such actions, as may be reasonably necessary, to enable the Company to continue its operations and settle its obligations in the ordinary course of business, meaning without substantial disposition of assets, externally forced revisions of its operations, or similar action, at least until 31 December 2026. Indeed, the parent company has continued its support for the company by providing £176,000,000 in loans by the year end and £26,872,750 since. The parent company has also waived all interest on this loan accrued up to 31 December 2024 and also for the foreseeable future. This amounted to £10,248,562 as at 31 December 2024. The Directors have made reasonable enquiries to enable them to consider the ability of the parent company to support the Company. Taking into account the matters described above the Directors believe that the Company will be able to meet its liabilities as they fall due and will have adequate resources to continue in operational existence until at least 31 December 2026. The financial statements have therefore been prepared on the going concern basis.