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Registered Number: 11813862
England and Wales

 

 

 

WORKFORCE ENTERPRISES LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 July 2022

End date: 30 June 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Investments 3 49,779    49,779 
49,779    49,779 
Current assets      
Debtors 4 1,728    1,678 
Cash at bank and in hand 7,598    10,521 
9,326    12,199 
Creditors: amount falling due within one year 5 (71,080)   (70,540)
Net current liabilities (61,754)   (58,341)
 
Total assets less current liabilities (11,975)   (8,562)
Net liabilities (11,975)   (8,562)
 

Capital and reserves
     
Called up share capital 6 1,000    1,000 
Profit and loss account (12,975)   (9,562)
Shareholder's funds (11,975)   (8,562)
 


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 Enterprises Limited is a private company, limited by shares, registered in England and Wales, registration number 11813862, registration address 1 Mark Square, C/O Wework, London, EC2A 4EG.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Group accounts
The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has, therefore, taken advantage of the option provided by section 398 of the Companies Act 2006 not to prepare group accounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instrument Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised when the company becomes party to the contractual provisions if the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees


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

Investments

Cost Other investments other than loans   Total
  £   £
At 01 July 2022 49,779    49,779 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 30 June 2023 49,779    49,779 

4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Called up Share Capital Not Paid 1,000    1,000 
Prepayments & Accrued Income 728    678 
1,728    1,678 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors   540 
Amounts Owed to Group Undertakings 70,000    70,000 
Accrued Expenses 1,080   
71,080    70,540 

6.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
1,000 Class A shares of £1.00 each 1,000    1,000 
1,000    1,000 

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
£
EPI Capital Pty Ltd
Tanda International Holdings Pte. Ltd
Workforce Success Ltd
Workforce HCM Ltd(70,000)(70,000)
Workforce IP Ltd
The Directors1,000 1,000 

EPI Capital Pty Ltd 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.
Tanda International Holdings Pte. Ltd 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 Success Ltd is a related party by virtue of common ownership, in that it is owned by Jake Phillpot, a director of the company.
Workforce HCM Ltd is a related party in that it is 100% owned by the company. As at 30 June 2023, the company owed Workforce HCM Ltd £70,000 (2022: £70,000).
Workforce IP Ltd is a related party in that it is 100% owned by the company.
The directors of the company are Josh Cameron, Alex Ghiculescu, Jake Phillpot and Tasmin Trezise. The directors are related parties by virtue of their equal ownership of the company. As at 30 June 2023, the directors owed the company £1,000 in respect of unpaid share capital.
2