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Registration number: 12307093

Engaging Works Holdings Limited

Annual Report and Consolidated Financial Statements

for the Year Ended 31 March 2025

 

Engaging Works Holdings Limited

Contents

Company Information

1

Directors' Report

2

Consolidated Balance Sheet

3 to 4

Balance Sheet

5

Notes to the Financial Statements

6 to 12

 

Engaging Works Holdings Limited

Company Information

Directors

Mr P Buscombe

Mr J C Muncey

Lord MI Price

Mr A M C Crawford

Registered office

43 Worship Street
London
EC2A 2DU

Accountants

Nicola Brookes Mole End
Shorts Green Lane
Motcombe
Dorset
SP7 9PA

 

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:

Mr P Buscombe

Mr J C Muncey

Lord MI Price

Mr A M C Crawford (appointed 4 June 2024)

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 Board on 9 July 2025 and signed on its behalf by:
 


Lord MI Price
Director

 

Engaging Works Holdings Limited

(Registration number: 12307093)
Consolidated Balance Sheet as at 31 March 2025

Note

2025
£

(As restated)

2024
£

Fixed assets

 

Intangible assets

5

2,683,808

1,798,223

Tangible assets

6

18,335

15,910

 

2,702,143

1,814,133

Current assets

 

Debtors

8

804,599

850,705

Cash at bank and in hand

 

488,528

284,254

 

1,293,127

1,134,959

Creditors: Amounts falling due within one year

9

(2,130,689)

(2,180,722)

Net current liabilities

 

(837,562)

(1,045,763)

Total assets less current liabilities

 

1,864,581

768,370

Creditors: Amounts falling due after more than one year

9

(112,223)

(172,423)

Net assets

 

1,752,358

595,947

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 Board on 9 July 2025 and signed on its behalf by:
 


Lord MI Price
Director

 

Engaging Works Holdings Limited

(Registration number: 12307093)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Investments

7

385,900

385,900

Current assets

 

Debtors

8

5,042,358

2,722,871

Cash at bank and in hand

 

857

343

 

5,043,215

2,723,214

Net assets

 

5,429,115

3,109,114

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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 £-).

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account and Directors' Report.

Approved and authorised by the Board on 9 July 2025 and signed on its behalf by:
 


Lord MI Price
Director

 

Engaging Works Holdings Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
43 Worship Street
London
EC2A 2DU

These financial statements were authorised for issue by the Board on 9 July 2025.

2

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

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

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

3

Operating loss

Arrived at after charging/(crediting)

2025
£

2024
£

Depreciation expense

5,722

5,364

Amortisation expense

387,283

259,996

Loss on disposal of property, plant and equipment

2,667

248

4

Staff numbers

The average number of persons employed by the group (including directors) during the year:

2025
No.

2024
No.

Employees and directors

50

40

50

40

 

Engaging Works Holdings Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

5

Intangible assets

Group

Other intangible assets
 £

Total
£

Cost or valuation

At 1 April 2024

2,599,962

2,599,962

Additions acquired separately

1,272,868

1,272,868

At 31 March 2025

3,872,830

3,872,830

Amortisation

At 1 April 2024

801,739

801,739

Amortisation charge

387,283

387,283

At 31 March 2025

1,189,022

1,189,022

Carrying amount

At 31 March 2025

2,683,808

2,683,808

At 31 March 2024

1,798,223

1,798,223

 

Engaging Works Holdings Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

6

Tangible assets

Group

Office equipment
£

Total
£

Cost or valuation

At 1 April 2024

39,713

39,713

Additions

10,814

10,814

Disposals

(19,816)

(19,816)

At 31 March 2025

30,711

30,711

Depreciation

At 1 April 2024

23,803

23,803

Charge for the year

5,722

5,722

Eliminated on disposal

(17,149)

(17,149)

At 31 March 2025

12,376

12,376

Carrying amount

At 31 March 2025

18,335

18,335

At 31 March 2024

15,910

15,910

7

Fixed Asset Investments

Company

2025
£

2024
£

Investments in subsidiaries

385,900

385,900

Subsidiaries

£

Cost or valuation

At 1 April 2024

385,900

Carrying amount

At 31 March 2025

385,900

At 31 March 2024

385,900

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

Engaging Works Group Limited

43 Worship Street, London WC2A 2DU

England and Wales

A Shares B Shares

100%
100%

100%
100%

Subsidiary undertakings

Engaging Works Group Limited

The principal activity of Engaging Works Group Limited is creation of digital career platform. The loss for the financial period of Engaging Works Group Limited was £1,163,595 and the aggregate amount of capital and reserves at the end of the period was £(3,290,863).

8

Debtors

   

Group

Company

Current

Note

2025
£

2024
£

2025
£

2024
£

Trade debtors

 

609,609

656,444

-

-

Amounts owed by related parties

-

-

5,042,358

2,722,871

Other debtors

 

-

274

-

-

Prepayments

 

39,990

11,062

-

-

Income tax asset

155,000

182,925

-

-

   

804,599

850,705

5,042,358

2,722,871

9

Creditors

   

Group

Company

Note

2025
£

(As restated)

2024
£

2025
£

2024
£

Due within one year

 

Loans and borrowings

10,198

94,503

-

-

Trade creditors

 

124,441

168,590

-

-

Social security and other taxes

 

306,408

448,321

-

-

Other payables

 

27,761

70,924

-

-

Accruals

 

1,661,881

1,398,384

-

-

 

2,130,689

2,180,722

-

-

Due after one year

 

Loans and borrowings

112,223

172,423

-

-

 

Engaging Works Holdings Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

10

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

420,000

-

Later than one year and not later than five years

140,000

-

560,000

-

The amount of non-cancellable operating lease payments recognised as an expense during the year was £245,000 (2024 - £Nil).

11

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.