WORLD OF WORK PROJECT C.I.C.

Company Registration Number:
SC638343 (Scotland)

Unaudited statutory accounts for the year ended 31 August 2024

Period of accounts

Start date: 1 September 2023

End date: 31 August 2024

WORLD OF WORK PROJECT C.I.C.

Contents of the Financial Statements

for the Period Ended 31 August 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

WORLD OF WORK PROJECT C.I.C.

Directors' report period ended 31 August 2024

The directors present their report with the financial statements of the company for the period ended 31 August 2024

Directors

The directors shown below have held office during the whole of the period from
1 September 2023 to 31 August 2024

James Carrier
Jane Mary Stewart


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
29 January 2025

And signed on behalf of the board by:
Name: James Carrier
Status: Director

WORLD OF WORK PROJECT C.I.C.

Profit And Loss Account

for the Period Ended 31 August 2024

2024 2023


£

£
Turnover: 133,873 121,065
Cost of sales: ( 115,748 ) ( 93,425 )
Gross profit(or loss): 18,125 27,640
Administrative expenses: ( 25,876 ) ( 24,553 )
Operating profit(or loss): (7,751) 3,087
Profit(or loss) before tax: (7,751) 3,087
Tax: 462 ( 582 )
Profit(or loss) for the financial year: (7,289) 2,505

WORLD OF WORK PROJECT C.I.C.

Balance sheet

As at 31 August 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 632 1,263
Total fixed assets: 632 1,263
Current assets
Debtors: 4 42,744 12,900
Cash at bank and in hand: 5,817 16,319
Total current assets: 48,561 29,219
Creditors: amounts falling due within one year: 5 ( 40,100 ) ( 13,980 )
Net current assets (liabilities): 8,461 15,239
Total assets less current liabilities: 9,093 16,502
Accruals and deferred income: ( 120 ) ( 240 )
Total net assets (liabilities): 8,973 16,262
Capital and reserves
Called up share capital: 200 200
Profit and loss account: 8,773 16,062
Total Shareholders' funds: 8,973 16,262

The notes form part of these financial statements

WORLD OF WORK PROJECT C.I.C.

Balance sheet statements

For the year ending 31 August 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 29 January 2025
and signed on behalf of the board by:

Name: James Carrier
Status: Director

The notes form part of these financial statements

WORLD OF WORK PROJECT C.I.C.

Notes to the Financial Statements

for the Period Ended 31 August 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Sale of goods Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods. Rendering of services Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome ofa contract cannot be estimated reliably

    Tangible fixed assets depreciation policy

    SL

    Other accounting policies

    Taxation Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

WORLD OF WORK PROJECT C.I.C.

Notes to the Financial Statements

for the Period Ended 31 August 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 2 2

WORLD OF WORK PROJECT C.I.C.

Notes to the Financial Statements

for the Period Ended 31 August 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 September 2023 1,895 1,895
Additions
Disposals
Revaluations
Transfers
At 31 August 2024 1,895 1,895
Depreciation
At 1 September 2023 632 632
Charge for year 631 631
On disposals
Other adjustments
At 31 August 2024 1,263 1,263
Net book value
At 31 August 2024 632 632
At 31 August 2023 1,263 1,263

WORLD OF WORK PROJECT C.I.C.

Notes to the Financial Statements

for the Period Ended 31 August 2024

4. Debtors

2024 2023
£ £
Trade debtors 42,402 12,900
Other debtors 342 0
Total 42,744 12,900

WORLD OF WORK PROJECT C.I.C.

Notes to the Financial Statements

for the Period Ended 31 August 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 9,374 8,987
Taxation and social security 6,406 3,059
Accruals and deferred income 18,880
Other creditors 5,440 1,934
Total 40,100 13,980

COMMUNITY INTEREST ANNUAL REPORT

WORLD OF WORK PROJECT C.I.C.

Company Number: SC638343 (Scotland)

Year Ending: 31 August 2024

Company activities and impact

The company runs the “World of Work Project” (TWOWP), a small organization delivering learning and development services and workforce consultancy services based in Edinburgh. The ambition is to improve individual’s experience work and increase access to high-quality training and support for individuals and small organisations, especially in Scotland. TWOWP was incorporated in August,2019, and became a CIC in August, 2020. As a CIC, our goal is to offer free services to individuals and very small charities, discounted services to smaller organisations and a full range of services and full price to larger, for-profit organizations to help fund free and reduced cost services for smaller and not-for-profit organizations. During the financial year 2023-2024, in addition to work delivered on commercial terms, TWOWP has benefitted the community in the following ways: Discounted Services for SME’s, non-profit organisations and charities Discounted Services - Throughout the year we have undertaken workshops, seminars and consulting work at discounted prices and pro bono for charities, non-profits and small or micro-organisations. The aggregated value of discounted work was £29,390 worth of services at the cost of £16,166 to the small, micro and non-profit clients. As we develop our impact record keeping further, we expect this value to increase year on year. Charity Sector Workshops - 2 online-workshops for leaders in the Scottish Charity sector. In total 30 Scottish Charity leaders attended these sessions. These session were offered at subsidised pricing and had a commercial value of £4,800 but were offered based on a subsidised ticket basis totalling £856. At these sessions we contributed to the development of these leaders and their charities, and also heard from them about the challenges they are facing. Free, “Open to All” resources Podcasts – The 150+ episode back catalogue continues to be available at no charge and an additional 10 episodes were added during the 2023 24 year. During the 12 months there were an estimated 26,326 unique downloads. Seminars and Workshops – 17 open, online events were delivered with 1981 free tickets were booked and attendance rates averaged just over 20%. this means over 396 session attendances were made possible at no cost to the attendee and around 20 hours of content and resources were shared. This has a commercial value of between £15,000 and £21,000. Sessions covered the following topics, all with the aim of improving peoples experience of work: Motivation theory, Communicating to Connect, Foundations of Leading & Managing, Psychological Safety, Managing Demands and Saying No, Power and Inclusion in work, Receiving and Giving Feedback, Remote Management, Goalsetting Workshop, Trust and Social Threats at Work, Understanding Your Personal Values & Strengths Sponsored Development Programme Places 5 individuals from non-profit organisations and micro-businesses each received a place on the 2024 Connected Management Programme at no charge. (£4,750) These stats were taken from Eventbrite and Libsyn – both platforms where the organisation offer open ticket and podcast access

Consultation with stakeholders

TWOWP works to support individuals who are in work in the UK, particularly in Scotland and particularly those in smaller or not-for profit organizations. To gain an insight into the challenges faced by our stakeholders we use four types of evidence in line with evidence-based practice relevant to our work: Professional expertise: the judgement of practitioners. We continue to use the podcast as an opportunity to explore key issues for managers with a range of experts and those with lived experience of workplace issues. We attend industry events, host online round tables for a mix of practitioners and HR professionals. Scientific literature: published studies on relevant topics We explore and update our knowledge and understanding of the research relevant to our beneficiaries and workplaces. We do this informally, through research for our content and through our continued CPD and formal qualifications relating to professional development. Evidence from organisations: Data on people’s behaviours in workplaces We regularly explore information available in the private sector, from government sources and from organisations aggregating and comparing UK and international data on topics such as turnover intention, staff wellbeing, satisfaction, employment and other key statistics related to people’s interaction with and at work. Evidence from stakeholders, community members or beneficiaries We social media platforms and the podcast to ask questions about workplace challenges and invite people to submit or share their issues and challenges and where they need support We hold broader discussions on an annual basis with senior staff at our client organisations to understand their experiences, We conduct entry and exit surveys for our development programmes to identify themes in the challenges people face

Directors' remuneration

In total, £1,517 of salary was paid to the directors of TWOWP in this financial year, and a further £1,517 was paid in pension to the directors of TWOWP in this financial year. No other remuneration was received by the directors in this reporting year.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
13 November 2024

And signed on behalf of the board by:
Name: James Carrier
Status: Director