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Registered Number: 11822729
England and Wales

 

 

 

WORKFORCE HCM LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 July 2022

End date: 30 June 2023
Directors Josh Cameron
Alex Ghiculescu
Jake Phillpot
Tasmin Trezise
Registered Number 11822729
Registered Office 1 Mark Square
C/O Wework
London
EC2A 4EG
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 19,124    11,399 
19,124    11,399 
Current assets      
Debtors 4 973,215    919,467 
Cash at bank and in hand 264,982    272,917 
1,238,197    1,192,384 
Creditors: amount falling due within one year 5 (972,776)   (837,363)
Net current assets 265,421    355,021 
 
Total assets less current liabilities 284,545    366,420 
Net assets 284,545    366,420 
 

Capital and reserves
     
Called up share capital 6 100    100 
Profit and loss account 284,445    366,320 
Shareholder's funds 284,545    366,420 
 


For the year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 14 March 2024 and were signed on its behalf by:


-------------------------------
Josh Cameron
Director
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General Information
Workforce HCM Limited is a private company, limited by shares, registered in England and Wales, registration number 11822729, registration address 1 Mark Square, C/O Wework, London, EC2A 4EG.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer equipment: 33% straight line
2.

Average number of employees


Average number of employees during the year was 3 (2022 : 0).
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 July 2022 13,429    13,429 
Additions 15,236    15,236 
Disposals  
At 30 June 2023 28,665    28,665 
Depreciation
At 01 July 2022 2,030    2,030 
Charge for year 7,511    7,511 
On disposals  
At 30 June 2023 9,541    9,541 
Net book values
Closing balance as at 30 June 2023 19,124    19,124 
Opening balance as at 01 July 2022 11,399    11,399 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 433,474    575,475 
Amount Owed by Group Undertakings 518,888    340,166 
Prepayments & Accrued Income 20,850    3,572 
Other Debtors 3    254 
973,215    919,467 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 322,836    387,659 
Corporation Tax   15,421 
PAYE & Social Security 28,462    19,201 
Accrued Expenses 555,151    380,993 
Other Creditors 2,495    1,705 
Wages & Salaries Control Account 8,510   
VAT 55,322    32,384 
972,776    837,363 

6.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Class A shares of £0.01 each  
 

7.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2023
£
 2022
£
 2023
£
 2022
£
Tanda Workforce Solutions Inc(63,602)(47,226)(21,620)(13,528)
Workforce Success Limited97,440 212,689 199,142 174,537 
Workforce Enterprises Limited70,000 70,000 
Workforce IP Limited110,000 110,000 
EPI Capital PTY Ltd(357,790)47,280 421,697 150,831 
Workforce.com Inc(382,036)(349,040)7,682 (349,292)
Workforce italy aps(41,242)(6,422)(6,419)

Tanda Workforce Solutions Inc is part of the Tanda Group of Companies. Both Tanda Workforce Solutions Inc and Workforce HCM Limited Bill Each other Throughout the year for services rendered.
Workforce Success Limited is part of the Tanda Group of Companies. Both Workforce Success Limited and Workforce HCM Limited Bill Each other Throughout the year for services rendered.
The two companies are both members of the Tanda Group of Companies. At 30 June 2023, Workforce Enterprises Limited Owed £70,000 to Workforce HCM Limited.
Workforce IP Limited & Workforce HCM Limited are both members of the Tanda Group of Companies. At 30 June 2023, Workforce IP Limited Owed £110,000 to Workforce HCM Limited.
EPI Capital Pty Ltd is an Australian Company that is part of the Tanda Group of Companies. At 30 June 2023, EPI Capital Pty Owed £421,697 to Workforce HCM Limited.
Workforce.com Inc. Tanda Inc. is a related party to the company, by virtue of common control of the entities at Group level, in that they are both part of the Tanda Group of companies.
Workforce Italy aps Workforce Italy is a related party to the company, by virtue of common control of the entities at Group level, in that they are both part of the Tanda Group of companies. As at 30 June 2023, the company owed £0 (2022:£6,418.57) .
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