Workforce Bank Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 4775213

Workforce Bank Limited

Filleted Unaudited Financial Statements

31 May 2025

Workforce Bank Limited

Statement of Financial Position

31 May 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	6	676	902

Current assets

Debtors	7	5,110	34,311
Cash at bank and in hand		148,813	7,480
		---------	--------
		153,923	41,791

Creditors: amounts falling due within one year	8	151,429	30,382
		---------	--------
Net current assets		2,494	11,409
		-------	--------
Total assets less current liabilities		3,170	12,311

Creditors: amounts falling due after more than one year	9	–	7,001

Provisions	10	169	225
		-------	--------
Net assets		3,001	5,085
		-------	--------

Capital and reserves

Called up share capital	11	1,000	1,000
Profit and loss account	12	2,001	4,085
		-------	-------
Shareholders funds		3,001	5,085
		-------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Workforce Bank Limited

Statement of Financial Position (continued)

31 May 2025

These financial statements were approved by the board of directors and authorised for issue on 29 May 2026 , and are signed on behalf of the board by:

R Dubov
Director

Company registration number: 4775213

Workforce Bank Limited

Notes to the Financial Statements

Year ended 31 May 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2nd floor, 159a Chase Side, Enfield, Middlesex, EN2 0PW, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

(a) Accounting convention

The accounts have been prepared under the historical cost convention and in compliance with the provisions of the Small Companies and Groups (Accounts and Directors’ Report) Regulations 2008 (SI2008/409) and Financial Reporting Standard 102 Section 1A.

(b) Turnover

Turnover represents the invoiced value, excluding Value Added Tax, of services supplied during the year.

(c) Tangible fixed assets and depreciation

Fixed assets are stated at cost less a provision for accumulated depreciation. Depreciation is provided at the following annual rates in order to write each asset down to its residual value over its estimated useful life: Fixtures and fittings – 25% on reducing balance Office equipment – 25% on reducing balance

(d) Deferred taxation

Deferred tax is recognised by making provision, at current rates, for all timing differences that have originated but not reversed by the balance sheet date. Timing differences arise where tax relief is obtained for expenditure in a different period to which the expenditure is charged in the profit and loss account.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 6 (2024: 4 ).

5. Tax on profit

	2025	2024
	£	£
Charge to corporation tax on the profit for the year @ 19.0% (2024 – 22.6%)	9,408	7,363
Deferred tax (credit) for the year	(56)	(3)
	-------	-------
	9,352	7,360
	-------	-------

6. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 June 2024 and 31 May 2025	1,312	22,364	23,676
	-------	--------	--------
Depreciation
At 1 June 2024	1,312	21,462	22,774
Charge for the year	–	226	226
	-------	--------	--------
At 31 May 2025	1,312	21,688	23,000
	-------	--------	--------
Carrying amount
At 31 May 2025	–	676	676
	-------	--------	--------
At 31 May 2024	–	902	902
	-------	--------	--------

7. Debtors

	2025	2024
	£	£
Other debtors	5,110	34,311
	-------	--------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	7,000	6,999
Corporation tax	9,555	17,476
Director's current account ( R Dubov)	128,679	–
Other creditors	6,195	5,907
	---------	--------
	151,429	30,382
	---------	--------

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	–	7,001
	----	-------

10. Provisions

	2025	2024
	£	£
Deferred tax provision brought forward	225	228
(Credit) for the year	(56)	(3)
	----	----
Deferred tax provision carried forward	169	225
	----	----

The provision for deferred taxation represents full provision for the corporation tax that would arise at current rates on the reversal of accelerated capital allowances.

11. Called up share capital

	2025	2024
	£	£
Authorised:
1,000 ordinary £1 shares	1,000	1,000
1,000 'A' £1 shares	1,000	1,000

Allotted, called up and fully paid:
801 ordinary £1 shares	801	801
199 'A' £1 shares	199	199

12. Profit and loss account

	2025	2024
	£	£
Accumulated profits brought forward	4,085	4,951
Profit for the financial year	34,916	19,134
Dividends paid in the year	(37,000)	(20,000)
	--------	--------
Accumulated profits carried forward	2,001	4,085
	--------	--------