REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 July 2024 |
for |
Future Of Work Ltd |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Share premium |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
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 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Computer equipment | - |
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 |
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 |
Additions |
At 31 July 2024 |
DEPRECIATION |
At 1 August 2023 |
Charge for year |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
5. | FIXED ASSET INVESTMENTS |
Investment |
in |
subsidiaries |
£ |
COST |
At 1 August 2023 |
Reclassification/transfer |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
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 |
Taxation and social security |
Other creditors |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.7.24 | 31.7.23 |
value: | £ | £ |
Ordinary | 0.00001 | 7 | 7 |
Deferred | 0.00001 | - | 8 |
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. |