Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Mrs R J Exton 02/05/2013 Professor P J Totterdill 02/05/2013 26 November 2024 The principal activity of the Company during the financial year was that of building a more integrated approach to research and consultancy by identifying new forms of work organisation. 08513579 2024-03-31 08513579 bus:Director1 2024-03-31 08513579 bus:Director2 2024-03-31 08513579 2023-03-31 08513579 core:CurrentFinancialInstruments 2024-03-31 08513579 core:CurrentFinancialInstruments 2023-03-31 08513579 core:Non-currentFinancialInstruments 2024-03-31 08513579 core:Non-currentFinancialInstruments 2023-03-31 08513579 core:ShareCapital 2024-03-31 08513579 core:ShareCapital 2023-03-31 08513579 core:RetainedEarningsAccumulatedLosses 2024-03-31 08513579 core:RetainedEarningsAccumulatedLosses 2023-03-31 08513579 core:OtherResidualIntangibleAssets 2023-03-31 08513579 core:OtherResidualIntangibleAssets 2024-03-31 08513579 core:PlantMachinery 2023-03-31 08513579 core:PlantMachinery 2024-03-31 08513579 bus:OrdinaryShareClass1 2024-03-31 08513579 2023-04-01 2024-03-31 08513579 bus:FilletedAccounts 2023-04-01 2024-03-31 08513579 bus:SmallEntities 2023-04-01 2024-03-31 08513579 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08513579 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08513579 bus:Director1 2023-04-01 2024-03-31 08513579 bus:Director2 2023-04-01 2024-03-31 08513579 core:OtherResidualIntangibleAssets core:TopRangeValue 2023-04-01 2024-03-31 08513579 core:PlantMachinery core:BottomRangeValue 2023-04-01 2024-03-31 08513579 core:PlantMachinery core:TopRangeValue 2023-04-01 2024-03-31 08513579 2022-04-01 2023-03-31 08513579 core:OtherResidualIntangibleAssets 2023-04-01 2024-03-31 08513579 core:PlantMachinery 2023-04-01 2024-03-31 08513579 core:CurrentFinancialInstruments 2023-04-01 2024-03-31 08513579 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 08513579 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 08513579 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08513579 (England and Wales)

WORKPLACE INNOVATION EUROPE LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

WORKPLACE INNOVATION EUROPE LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

WORKPLACE INNOVATION EUROPE LIMITED

BALANCE SHEET

As at 31 March 2024
WORKPLACE INNOVATION EUROPE LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 22,492 46,609
Tangible assets 4 1,436 2,228
23,928 48,837
Current assets
Debtors 5 11,589 29,283
Cash at bank and in hand 1,957 3,038
13,546 32,321
Creditors: amounts falling due within one year 6 ( 293,199) ( 285,502)
Net current liabilities (279,653) (253,181)
Total assets less current liabilities (255,725) (204,344)
Creditors: amounts falling due after more than one year 7 ( 3,927) ( 13,632)
Net liabilities ( 259,652) ( 217,976)
Capital and reserves
Called-up share capital 8 20 20
Profit and loss account ( 259,672 ) ( 217,996 )
Total shareholders' deficit ( 259,652) ( 217,976)

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Workplace Innovation Europe Limited (registered number: 08513579) were approved and authorised for issue by the Board of Directors on 26 November 2024. They were signed on its behalf by:

Mrs R J Exton
Director
WORKPLACE INNOVATION EUROPE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
WORKPLACE INNOVATION EUROPE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Workplace Innovation Europe Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom. The principal place of business is Clockwise, Broadwalk House, Southernhay West, Exeter, EX1 1TS. With effect from 2 May 2023, the name of the company was changed to Workplace Innovation Europe Limited (formerly known as Workplace Innovation Management Limited).

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date. Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a basis over its expected useful life, as follows:

Plant and machinery 3 - 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 1

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 April 2023 223,167 223,167
At 31 March 2024 223,167 223,167
Accumulated amortisation
At 01 April 2023 176,558 176,558
Charge for the financial year 24,117 24,117
At 31 March 2024 200,675 200,675
Net book value
At 31 March 2024 22,492 22,492
At 31 March 2023 46,609 46,609

4. Tangible assets

Plant and machinery Total
£ £
Cost
At 01 April 2023 6,925 6,925
Additions 282 282
At 31 March 2024 7,207 7,207
Accumulated depreciation
At 01 April 2023 4,697 4,697
Charge for the financial year 1,074 1,074
At 31 March 2024 5,771 5,771
Net book value
At 31 March 2024 1,436 1,436
At 31 March 2023 2,228 2,228

5. Debtors

2024 2023
£ £
Trade debtors 7,020 0
Amounts owed by Group undertakings 0 26,446
Prepayments and accrued income 2,413 795
VAT recoverable 2,156 362
Other debtors 0 1,680
11,589 29,283

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 3,055 2,980
Amounts owed to Group undertakings 18,146 0
Amounts owed to directors 18,326 18,326
Other loans 0 9,971
Accruals and deferred income 2,700 8,330
Other taxation and social security 0 231
Other creditors 250,972 245,664
293,199 285,502

Included in other loan borrowings is an amount of £Nil (2023: £9,971) on which security has been provided by the directors on behalf of the company. A legal charge is held against personally owned freehold property.

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 3,927 6,982
Other loans 0 6,650
3,927 13,632

Included in other loans is an amount of £Nil (2023: £6,650) on which security has been provided by the directors on behalf of the company. A legal charge is held against personally owned freehold property.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
20 Ordinary shares of £ 1.00 each 20 20

9. Related party transactions

Transactions with owners holding a participating interest in the entity

2024 2023
£ £
Amount due to Work Research 245,601 239,601

During the current and previous year a loan account existed between the company and Work Research, a business owned wholly by the directors of the company. No interest was paid on this loan. The loan is repayable on demand.