Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312025-05-282024-12-312025-05-28falsetrue2024-01-01Provision of online HR services74falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11542509 2024-01-01 2024-12-31 11542509 2023-01-01 2023-12-31 11542509 2024-12-31 11542509 2023-12-31 11542509 c:Director1 2024-01-01 2024-12-31 11542509 c:Director2 2024-01-01 2024-12-31 11542509 c:Director3 2024-01-01 2024-12-31 11542509 c:Director4 2024-01-01 2024-12-31 11542509 c:RegisteredOffice 2024-01-01 2024-12-31 11542509 d:OfficeEquipment 2024-01-01 2024-12-31 11542509 d:OfficeEquipment 2024-12-31 11542509 d:OfficeEquipment 2023-12-31 11542509 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 11542509 d:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 11542509 d:ComputerSoftware 2024-12-31 11542509 d:ComputerSoftware 2023-12-31 11542509 d:CurrentFinancialInstruments 2024-12-31 11542509 d:CurrentFinancialInstruments 2023-12-31 11542509 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 11542509 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11542509 d:ShareCapital 2024-12-31 11542509 d:ShareCapital 2023-12-31 11542509 d:RetainedEarningsAccumulatedLosses 2024-12-31 11542509 d:RetainedEarningsAccumulatedLosses 2023-12-31 11542509 c:OrdinaryShareClass1 2024-01-01 2024-12-31 11542509 c:OrdinaryShareClass1 2024-12-31 11542509 c:OrdinaryShareClass1 2023-12-31 11542509 c:FRS102 2024-01-01 2024-12-31 11542509 c:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 11542509 c:FullAccounts 2024-01-01 2024-12-31 11542509 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11542509 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 11542509 d:ComputerSoftware d:OwnedIntangibleAssets 2024-01-01 2024-12-31 11542509 e:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11542509










WORKSMARTER LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
WORKSMARTER LIMITED
 
 
COMPANY INFORMATION


Directors
L M Burton 
D H Chapman 
T M O'Hara 
J Webb-Heller 




Registered number
11542509



Registered office
74 The Close

Norwich

Norfolk

NR1 4DR




Accountants
MA Partners LLP
Chartered Accountants

7 The Close

Norwich

Norfolk

NR1 4DJ





 
WORKSMARTER LIMITED
 

CONTENTS



Page
Accountants' report
 
 
1
Balance sheet
 
 
2 - 3
Notes to the financial statements
 
 
4 - 11


 
WORKSMARTER LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF WORKSMARTER LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Worksmarter Limited for the year ended 31 December 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Worksmarter Limited, as a body, in accordance with the terms of our engagement letter dated 25 February 2022Our work has been undertaken solely to prepare for your approval the financial statements of Worksmarter Limited and state those matters that we have agreed to state to the Board of directors of Worksmarter Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Worksmarter Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Worksmarter Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Worksmarter Limited. You consider that Worksmarter Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Worksmarter Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ
 
28 May 2025
Page 1

 
WORKSMARTER LIMITED
REGISTERED NUMBER: 11542509

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Intangible assets
 4 
136,442
-

Tangible assets
 5 
4,490
3,507

  
140,932
3,507

Current assets
  

Debtors: amounts falling due within one year
 6 
2,965
13,185

Cash at bank and in hand
  
55,613
34,627

  
58,578
47,812

Creditors: amounts falling due within one year
 7 
(37,880)
(20,552)

Net current assets
  
 
 
20,698
 
 
27,260

Total assets less current liabilities
  
161,630
30,767

Provisions for liabilities
  

Deferred tax
  
(35,326)
(511)

Net assets
  
126,304
30,256


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
126,204
30,156

  
126,304
30,256


Page 2

 
WORKSMARTER LIMITED
REGISTERED NUMBER: 11542509
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 May 2025.




L M Burton
Director

The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
WORKSMARTER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

WorkSmarter Limited is a private Company, limited by shares, incorporated and domiciled in England and Wales. The address of its registered office is 74 The Close, Norwich, Norfolk, NR1 4DR.

The Company's principal activity is that of the provision of HR software.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover represents income from subscriptions for the Company's WorkSmarter HR software and is recognised on an accruals basis, exclusive of Value Added Tax, in accordance with the period covered by the subscription.

 
2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
WORKSMARTER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.5

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
WORKSMARTER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25%
straight line
Other fixed assets
-
20%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections
Page 6

 
WORKSMARTER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)

11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of 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.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic financial liabilities

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Page 7

 
WORKSMARTER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)


Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2023 - 4).

Page 8

 
WORKSMARTER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Intangible assets




Computer software

£



Cost


Additions
150,363



At 31 December 2024

150,363



Amortisation


Charge for the year on owned assets
13,921



At 31 December 2024

13,921



Net book value



At 31 December 2024
136,442



At 31 December 2023
-



Page 9

 
WORKSMARTER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 January 2024
3,582


Additions
2,505



At 31 December 2024

6,087



Depreciation


At 1 January 2024
75


Charge for the year on owned assets
1,522



At 31 December 2024

1,597



Net book value



At 31 December 2024
4,490



At 31 December 2023
3,508


6.


Debtors

2024
2023
£
£


Trade debtors
-
11,212

Other debtors
1,498
-

Prepayments and accrued income
1,467
1,973

2,965
13,185


Page 10

 
WORKSMARTER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
691
737

Corporation tax
-
6,427

Other taxation and social security
19,070
11,975

Accruals and deferred income
18,119
1,413

37,880
20,552



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100


 
Page 11