Registration number:
Engaging Works Holdings Limited
for the Year Ended 31 March 2025
Engaging Works Holdings Limited
Contents
|
Company Information |
|
|
Directors' Report |
|
|
Consolidated Balance Sheet |
|
|
Balance Sheet |
|
|
Notes to the Financial Statements |
Engaging Works Holdings Limited
Company Information
|
Directors |
Mr P Buscombe Mr J C Muncey Lord MI Price Mr A M C Crawford |
|
Registered office |
|
|
Accountants |
|
Engaging Works Holdings Limited
Directors' Report for the Year Ended 31 March 2025
The directors present their report and the for the year ended 31 March 2025.
Directors of the group
The directors who held office during the year were as follows:
Review of Business
This year has seen the business secure funding from Calculus in order to build the foundations to scale the business in the United Kingdom and internationally.
In the United Kingdom we added more marquee customers including Next and Burger King, and we serviced over 1,000 organisations globally with employee engagement surveys.
At the time of writing we are now working with 9 newspapers around the world delivering their Best Places to Work awards, with India being the latest. Plans are well developed to increase further by the end of this financial year.
We now have more than 100,000 organisations on our World's Happiest Workplace list from 195 countries and across 26 sectors.
As a result there has been rapid increase in the number of people using WorkL to search for jobs in those organisations.
This year we continue to develop our platform and build reach and scale.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
|
|
Engaging Works Holdings Limited
(Registration number: 12307093)
Consolidated Balance Sheet as at 31 March 2025
|
Note |
2025 |
(As restated) |
|
|
Fixed assets |
|||
|
Intangible assets |
|
|
|
|
Tangible assets |
|
|
|
|
|
|
||
|
Current assets |
|||
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current liabilities |
( |
( |
|
|
Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
88 |
72 |
|
|
Share premium reserve |
5,428,977 |
3,108,992 |
|
|
Capital redemption reserve |
50 |
50 |
|
|
Retained earnings |
(3,676,757) |
(2,513,167) |
|
|
Equity attributable to owners of the company |
1,752,358 |
595,947 |
|
|
Shareholders' funds |
1,752,358 |
595,947 |
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.
The members have not required the company and the group to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:
(a) Ensuring that the group keeps accounting records which comply with Section 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 Section 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 and the group.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Engaging Works Holdings Limited
(Registration number: 12307093)
Consolidated Balance Sheet as at 31 March 2025
Approved and authorised by the
|
|
Engaging Works Holdings Limited
(Registration number: 12307093)
Balance Sheet as at 31 March 2025
|
Note |
2025 |
2024 |
|
|
Fixed assets |
|||
|
Investments |
|
|
|
|
Current assets |
|||
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
88 |
72 |
|
|
Share premium reserve |
5,428,977 |
3,108,992 |
|
|
Capital redemption reserve |
50 |
50 |
|
|
Shareholders' funds |
5,429,115 |
3,109,114 |
For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006
Directors' responsibilities:
|
• |
|
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
The company made a loss after tax for the financial year of £- (2024 - loss of £-).
Approved and authorised by the
|
|
Engaging Works Holdings Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
|
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Basis of consolidation
The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 31 March 2025.
Engaging Works Holdings Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
Prior period adjustments
In previous years, the company turnover has been determined based upon invoice dates. It is now recognised that some turnover relates to subscription services and the prior year adjustment restates those sales in the correct accounting period to which they relate.
Relating to the current period disclosed in these financial statements | Relating to the prior period disclosed in these financial statements | Relating to periods before the prior period disclosed in these financial statements | |
Turnover | 978,593 | (555,363) | (423,230) |
Revenue recognition
Turnover from subscription services is recognised on a straight line basis over the subscription period. Any amounts received in advance of the service period are initially recognised as deferred revenue and are subsequently recognised as revenue over the service period.
Other turnover is measured at fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the group operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Engaging Works Holdings Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
|
Asset class |
Depreciation method and rate |
|
Office equipment |
Over five years |
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
|
Asset class |
Amortisation method and rate |
|
Intellectual property |
Over ten years |
|
Operating loss |
Arrived at after charging/(crediting)
|
2025 |
2024 |
|
|
Depreciation expense |
|
|
|
Amortisation expense |
|
|
|
Loss on disposal of property, plant and equipment |
|
|
|
Staff numbers |
The average number of persons employed by the group (including directors) during the year:
|
2025 |
2024 |
|
|
Employees and directors |
|
|
|
|
|
Engaging Works Holdings Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Intangible assets |
Group
|
Other intangible assets |
Total |
|
|
Cost or valuation |
||
|
At 1 April 2024 |
|
|
|
Additions acquired separately |
|
|
|
At 31 March 2025 |
|
|
|
Amortisation |
||
|
At 1 April 2024 |
|
|
|
Amortisation charge |
|
|
|
At 31 March 2025 |
|
|
|
Carrying amount |
||
|
At 31 March 2025 |
|
|
|
At 31 March 2024 |
|
|
Engaging Works Holdings Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Tangible assets |
Group
|
Office equipment |
Total |
|
|
Cost or valuation |
||
|
At 1 April 2024 |
|
|
|
Additions |
|
|
|
Disposals |
( |
( |
|
At 31 March 2025 |
|
|
|
Depreciation |
||
|
At 1 April 2024 |
|
|
|
Charge for the year |
|
|
|
Eliminated on disposal |
( |
( |
|
At 31 March 2025 |
|
|
|
Carrying amount |
||
|
At 31 March 2025 |
|
|
|
At 31 March 2024 |
|
|
|
Fixed Asset Investments |
Company
|
2025 |
2024 |
|
|
Investments in subsidiaries |
|
|
|
Subsidiaries |
£ |
|
Cost or valuation |
|
|
At 1 April 2024 |
|
|
Carrying amount |
|
|
At 31 March 2025 |
|
|
At 31 March 2024 |
|
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Engaging Works Holdings Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
|
2025 |
2024 |
|||
|
Subsidiary undertakings |
||||
|
|
43 Worship Street, London WC2A 2DU England and Wales |
|
|
|
|
Subsidiary undertakings |
|
Engaging Works Group Limited The principal activity of Engaging Works Group Limited is |
|
Debtors |
|
Group |
Company |
||||
|
Current |
Note |
2025 |
2024 |
2025 |
2024 |
|
Trade debtors |
|
|
- |
- |
|
|
Amounts owed by related parties |
- |
- |
|
|
|
|
Other debtors |
- |
|
- |
- |
|
|
Prepayments |
|
|
- |
- |
|
|
Income tax asset |
|
|
- |
- |
|
|
|
|
|
|
||
|
Creditors |
|
Group |
Company |
||||
|
Note |
2025 |
(As restated) |
2025 |
2024 |
|
|
Due within one year |
|||||
|
Loans and borrowings |
|
|
- |
- |
|
|
Trade creditors |
|
|
- |
- |
|
|
Social security and other taxes |
|
|
- |
- |
|
|
Other payables |
|
|
- |
- |
|
|
Accruals |
|
|
- |
- |
|
|
|
|
- |
- |
||
|
Due after one year |
|||||
|
Loans and borrowings |
|
|
- |
- |
|
Engaging Works Holdings Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Obligations under leases and hire purchase contracts |
Group
Operating leases
The total of future minimum lease payments is as follows:
|
2025 |
2024 |
|
|
Not later than one year |
|
- |
|
Later than one year and not later than five years |
|
- |
|
|
- |
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
|
Exceptional items |
During the year ended 31 March 2025, the company incurred additional costs of £279,000 to secure external funding for the business. The costs covered the legal and professional fees of the advisers.