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REGISTERED NUMBER: 12752302 (England and Wales)














Financial Statements for the Year Ended 31 July 2024

for

Future Of Work Ltd

Future Of Work Ltd (Registered number: 12752302)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Future Of Work Ltd

Company Information
for the Year Ended 31 July 2024







DIRECTOR: Mr M C Sailor





REGISTERED OFFICE: The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY





REGISTERED NUMBER: 12752302 (England and Wales)





ACCOUNTANTS: Nordens
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY

Future Of Work Ltd (Registered number: 12752302)

Statement of Financial Position
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 3,436 2,553
Investments 5 113 2
3,549 2,555

CURRENT ASSETS
Debtors 6 189,902 12,819
Cash at bank and in hand 65,077 88,098
254,979 100,917
CREDITORS
Amounts falling due within one year 7 123,622 147,088
NET CURRENT ASSETS/(LIABILITIES) 131,357 (46,171 )
TOTAL ASSETS LESS CURRENT LIABILITIES 134,906 (43,616 )

CAPITAL AND RESERVES
Called up share capital 8 87,826 87,834
Share premium 138,346 138,236
Retained earnings (91,266 ) (269,686 )
SHAREHOLDERS' FUNDS 134,906 (43,616 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Future Of Work Ltd (Registered number: 12752302)

Statement of Financial Position - continued
31 July 2024


The 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.

The financial statements were approved by the director and authorised for issue on 15 September 2024 and were signed by:





Mr M C Sailor - Director


Future Of Work Ltd (Registered number: 12752302)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Future Of Work Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 4 ) .

Future Of Work Ltd (Registered number: 12752302)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

4. PROPERTY, PLANT AND EQUIPMENT
Computer
equipment
£   
COST
At 1 August 2023 4,517
Additions 2,029
At 31 July 2024 6,546
DEPRECIATION
At 1 August 2023 1,964
Charge for year 1,146
At 31 July 2024 3,110
NET BOOK VALUE
At 31 July 2024 3,436
At 31 July 2023 2,553

5. FIXED ASSET INVESTMENTS
Investment
in
subsidiaries
£   
COST
At 1 August 2023 2
Reclassification/transfer 111
At 31 July 2024 113
NET BOOK VALUE
At 31 July 2024 113
At 31 July 2023 2

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 149,055 5,608
Amounts owed by group undertakings 34,420 -
Other debtors 6,427 7,211
189,902 12,819

Future Of Work Ltd (Registered number: 12752302)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 59,372 72,291
Taxation and social security 54,057 68,060
Other creditors 10,193 6,737
123,622 147,088

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
659,793 Ordinary 0.00001 7 7
800,000 Deferred 0.00001 - 8
8,781,900,000 Preferred 0.00001 87,819 87,819
87,826 87,834

On 18 August 2023, the company purchased 800,000 of its own deferred shares. These shares were subsequently cancelled on the same date.

9. SHARE CAPITAL

The increase in share capital represents the consideration of $100,000 (£87,818.67) received from Outlier Ventures Operations Ltd on 2nd November 2023. The share capital has been increased in accordance with Section 22 of FRS 102 as the money has been received according to the terms of the contract in place where there is no maturity date and the company will not be required to repay the cash received. As per the terms of the contract, 6% of the ordinary share capital of the company will be issued on the next funding round and the share capital will be amended upon this issue.