Registration number:
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Workstories Limited
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Brebners
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Workstories Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Statement of Income and Retained Earnings |
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Statement of Financial Position |
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Statement of Changes in Equity |
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Statement of Cash Flows |
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Notes to the Financial Statements |
Workstories Limited
Company Information
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Directors |
J S Harradine M Sullivan |
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Registered office |
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Auditor |
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Workstories Limited
Strategic Report for the Year Ended 31 December 2025
The directors present their strategic report for the year ended 31 December 2025.
Principal activity
The principal activity of the company is that of the design, sourcing and manufacture of furniture for workspaces.
Fair review of the business
Since 2013, Workstories has been at the forefront of market design and innovation, crafting exceptional furniture that transforms workspaces into inspiring environments. Our commitment goes beyond furniture: Workstories create dynamic, people centric spaces that foster creativity, productivity, and success.
From concept to completion, the team collaborate with architects and designers to bring visionary ideas to life, offering bespoke finishes, personalised workstations, and cutting-edge 3D visualisations that elevate the client experience. Whether designing a space for ten or ten thousand, Workstories can turn clients' visions into affordable solutions that deliver on style, comfort, and quality.
The business now employs an average of 68 people and delivered £21.3m of revenue in 2025, supported by an in-house design and New Product Development function, a directly managed delivery fleet, and a dedicated installation capability.
Business performance and financials
2025 was a year of substantial growth for Workstories. Revenue increased by 14.6% to £21,294,595 (2024: £18,586,815). Gross margin strengthened, reflecting the continued shift towards own-brand, design-led product, improved procurement routes and tight control of direct cost. Delivering materially higher volume without conceding margin was a central objective for the year, and it was achieved.
The company took the deliberate decision to invest ahead of that growth. Administrative expenses increased to £7,937,105 (2024: £6,220,795), principally through employment cost of £5,128,143 (2024: £3,736,798) and establishment costs of £1,239,066 (2024: £1,001,829).
Operating profit was £245,588 (2024: £854,719) and profit after tax was £112,370 (2024: £600,297). The investment made during the year, in people, in product development, in warehousing and in installation capability, has been made against a growing order book, and the directors expect its benefit to be reflected in operating margin as volume is carried on the enlarged cost base.
The directors are satisfied with the statement of financial position at 31st December 2025, which shows £1,458,574 of net assets (2024: £1,322,734) and £1,516,118 of net current assets (2024: £891,574), an increase of 70% on the prior year. Cash at bank was £209,263 (2024: £332,721). Working capital absorbed cash during the year, with trade debtors increasing to £2,971,617 (2024: £1,656,408) in line with the higher level of trading in the final quarter, partly offset by a reduction in stock to £2,631,929 (2024: £2,896,771) as inventory control tightened.
The directors believe that, given the strength of the business model, the management team and the order pipeline carried into 2026, the company is well positioned strategically to navigate short to medium term economic challenges and to leverage the opportunities that arise during the next financial year.
Workstories Limited
Strategic Report for the Year Ended 31 December 2025
Financial and non-financial key performance Indicators
The company considers its key financial performance indicators are those that communicate the financial performance and strength of the company, these being turnover, gross profit, operating profit and liquidity as stated on pages 16 and 17 of the financial statements.
The non-financial measures are not considered to be key. The Board meet regularly to consider management accounts and compare actual results and trends against financial objectives and budgets, and other non-financial targets.
The Board also monitors a number of non-financial measures alongside these, including delivery and installation performance, stock accuracy, health and safety incidents, landfill diversion and employee engagement. These are used to manage the business rather than as headline indicators of financial performance.
Our people and investment in senior management
Average headcount increased from 61 to 68 during the year, with growth concentrated in administration and support functions, which grew from 20 to 28, reflecting the strengthening of design, project management and client-facing capability. The senior management appointments made in 2024 were embedded through 2025, bringing greater oversight, reliability and expertise to the finance, operations and sales functions.
Employee engagement is measured through an Employee Net Promoter Score, which stood at 25 at the year end, with a target of 30 or above set for 2026 supported by new employee satisfaction initiatives. Retention remains a priority in a business that has grown quickly, as 29% of employees have now been with the company for more than four years, and a number of the earliest hires remain with the business. Employees have access to a multitude of benefits.
Community and charitable support
The company continued to make charitable donations during the year. Of that, 82% was provided through stock donations to Impakt Housing and Support, an independent housing association providing supported accommodation for people aged 16 to 64, funded through a home interiors and gifts boutique whose proceeds support housing for the homeless, domestic abuse resettlement and local food bank programmes. The company also supported Ride United, an inclusive cycling club in King's Lynn, designing and supplying a bespoke storage facility for its adapted bikes and using its own fleet to collect donated bikes from Warrington and deliver them to Norfolk.
Project management and installation
The company operates a dedicated project management and installation capability rather than solely relying on subcontracted fitting teams. Fitting labour continues to be drawn from established third party teams, but every installation is managed by the company's own project management team and supervised on site by a Workstories supervisor. Project managers coordinate site surveys, delivery sequencing and installation, working alongside the company's own delivery fleet so that scheduling, site access and installation are planned as a single operation. Retaining management and supervision in house shortens the time taken to resolve issues on site, protects the quality of the finished installation and gives clients a single point of accountability from specification through to handover.
Workstories Limited
Strategic Report for the Year Ended 31 December 2025
British manufacturing and strategic manufacturing partnerships
Manufacturing in the United Kingdom is central to how the company operates rather than a matter of preference. Approximately 85% of product is made in the UK, which shortens lead times, gives direct control over quality and specification, reduces transport emissions and supports British industry and the supply chains around it. Where the company sources from further afield it does so with intent, to access materials or techniques that are not available domestically, applying the same standards of ethical sourcing and environmental performance.
2025 saw significant investment in the company’s manufacturing capability and key manufacturing partnerships. Close collaboration with the upholstery manufacturer Roger Lewis and timber manufacturer Woodstories has strengthened Workstories’ UK manufacturing footprint to four sites: wood and MFC production in Cambridgeshire, upholstery in Somerset, metalwork in Yorkshire, and the logistics centre in Bedfordshire. Strengthening relationships with these partners provides greater oversight of quality, capacity and lead times, supports the continued expansion of the own-brand range and its craftsmanship, and reduces dependence on broader third-party manufacturing markets at a time when the sector continues to experience consolidation.
Sourcing and supply chain
Relationships with its network of established manufacturing partners for finished goods and components are long standing, and partners are selected and retained on quality, consistency, and their ability to meet the company's specification and environmental standards. Concentration risk is managed through the breadth of the partner base and, where appropriate, the dual sourcing of key lines.
Sustainability and logistics
Sustainability remains a key objective for the business. The company continued to operate its own internally managed fleet of four vehicles throughout 2025, comprising an articulated unit with two trailers, two 18-tonne rigid vehicles and one 7.5-tonne vehicle, giving direct control over scheduling, capacity, service levels and the customer delivery experience. Just over half of all orders were delivered on the company's own fleet during the year, and reliance on third-party transport reduced sharply, with 27 third-party vehicles used in 2025 against 98 in 2024.
The postcode matrix approach to delivery planning was refined further during the year, with scheduling adjusted to move volume onto lighter days as demand in particular areas increased. Average drops per vehicle per day increased from 12 to 13 and vehicle capacity utilisation improved from 98.2% to 98.9%, on total mileage of 353,113 (2024: 276,062), reflecting the higher level of delivery activity across the year.
In 2025 the company achieved FORS Bronze accreditation, with all drivers maintaining their Driver CPC training.
Other sustainability initiatives include:
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Plastic-free packaging across tabletop and goods-in operations, using cardboard sheeting, water-activated paper tape and coverboard, with recycled-content materials where plastic remains necessary: chair bags made from 100% recycled material, shrink wrap containing 30% recycled content, and reusable furniture blankets for task chair transport that are repaired and repurposed to extend their working life. Protective bags use biodegradable PLA and PBAT, boxes are made from Kraft paper and A9 grade corrugated board, and a plant-based material is used for cable packaging, with a packaging take-back scheme being piloted at the warehouses. |
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A move during 2025 to a new packaging partner whose face and back boards use recycled kraft liner in place of virgin kraft, and who will provide line-by-line sustainability reporting on all purchased packaging from 2026. |
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The continued operation of a baler to compress cardboard for recycling. |
Workstories Limited
Strategic Report for the Year Ended 31 December 2025
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A structured waste management system that segregates cardboard, wood and general waste, and an arrangement with a pallet partner under which damaged pallets are reconditioned and returned to circulation rather than disposed of. |
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A pre-loved furniture programme, working with local charities including IMPAKT in Bedford and Sue Ryder in Northampton, so that returned and surplus product is reused rather than sent to landfill. This operates as the ReWorkstories take-back scheme, under which returned product is refurbished for reuse, donated to charity where it cannot be resold, and recycled responsibly only where donation is not possible. |
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Alignment to local UK based manufacturers. |
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Maintaining key sustainability and assurance certifications, including ISO 9001, ISO 14001, FISP, FSC, FIRA registrations and Cyber Essentials. |
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The commencement of Scope 1 and Scope 2 emissions data tracking during 2025, establishing a baseline for future reporting. |
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The setting and publication of sustainability goals for 2026. |
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FORS Bronze accreditation for the company's transport operation. |
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A Zero to Landfill policy across warehouse operations, with a 100% landfill diversion rate achieved in partnership with Cawleys Waste Management Services. Of the waste handled, 46.9% was recovered for recycling, 36.8% was converted to energy and 16.3% was processed into refuse derived fuel. |
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A reduction in the standard desktop width from 1,400mm to 1,385mm. The 15mm variation from the industry standard allows four tops to be cut from a single MFC board rather than two, removing approximately 40% of the waste previously generated on unused sheet material, with factory downtime used to convert remaining offcuts into stock tops for the most popular products. |
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A five-year standard warranty on task chairs, supported by a 12-month service plan under which the company's engineers fully service a chair outside its warranty period and extend the warranty for a further year, allowing product life to be extended through maintenance rather than replacement. |
Indoor air quality and VOC certification
The 2024 strategic report stated that the company was working towards VOC certification. That work concluded during the year. Workstories has achieved SCS Indoor Advantage Gold certification across its Power & Electric, Accessories, Monitor Arms and Seating collections, with SCS Indoor Advantage certification covering all tables and desks. Certification follows independent laboratory testing for 35 volatile organic compounds and assessment against internationally recognised standards, including ANSI/BIFMA M7.1/X7.1-2011 (R2021) and ANSI/BIFMA e3-2019, with Gold certified products additionally meeting the CDPH/EHLB (CA 01350) v1.2-2017 standard.
Furniture and fittings are a material contributor to air quality in enclosed workplaces, and specifiers are increasingly required to evidence low-emitting materials as a condition of achieving building certification. Certified Workstories product now contributes to the indoor air quality and materials credits within BREEAM, LEED and BIFMA assessments. Holding this data at product family level allows the company to answer those requirements as a matter of routine rather than by exception, and removes what had become a recurring obstacle in tender submissions.
Environmental performance is increasingly a determinant of purchasing decisions rather than a differentiator, with clients requiring product-level and organisational environmental data as a condition of tender. The company continues to develop the evidence base required to support clients' own environmental commitments.
Clients have responded positively to these initiatives, with increased confidence in our reliability and service levels. Our streamlined transport operations have strengthened relationships with regular delivery points, reinforcing Workstories' commitment to operational excellence and sustainability.
Workstories Limited
Strategic Report for the Year Ended 31 December 2025
Warehouse and operations
The warehouse operation absorbed the growth in volume during 2025 within its existing footprint, operating at around 90% of capacity across all departments and making greater use of additional container storage on site. Stock accuracy continued to improve, supported by a more granular location and sub-location structure and the introduction during the year of regular counts of just-in-time stock lines. Internal processes for recording and reporting damaged goods were strengthened, and closer working with manufacturing partners improved the condition of goods received. The warehouse team grew by one operative during the year.
Awards and recognition
2025 brought further design recognition, with Pico awarded a Red Dot Award, following the Red Dot, Mix Awards and Design Guild Mark recognition received by Laines in 2024. A second consecutive year of international design recognition for own-brand product validates the company's strategic move towards proprietary, design-led offerings and strengthens its value proposition with architects, designers and end clients.
New product development
Workstories remains committed to innovation and to the strategy of developing proprietary, design-led offerings. The dedicated New Product Development team, established following the success of the 2024 range, now consists of in-house designers, developers and skilled technicians, and continues to receive investment to ensure Workstories maintains its position as a market leader.
2025 marked the launch of twelve new products, materially broadening the own-brand portfolio and giving clients a wider design-led range across workspace settings. The new range was supported by an exhibition presence at the Workplace Design Show and by increased visibility within the architecture and design community, reflected in growing press coverage during the year.
The company's Clerkenwell showroom remains the principal point of engagement with the architecture and design community, hosting client events, roundtables and CPD certified training sessions through the year.
Market conditions and outlook
Client decision-making cycles have remained extended, with economic uncertainty continuing to influence the timing of commitments on workplace projects. This has provided an opportunity for Workstories to work closely with clients to refine solutions that balance design and cost considerations, and our proactive approach has strengthened relationships and ensured we remain a trusted partner in delivering workspace solutions. The company's revenue growth in 2025 was achieved against that backdrop.
The wider UK office furniture and commercial fit-out market has continued to grow modestly, supported by Grade A office refurbishment in the major cities, hybrid working driving reconfiguration rather than replacement, and increasingly demanding sustainability requirements within tender processes. Sector participants continue to report competitive pricing pressure and sensitivity to interest rates and business investment confidence. Against this, the company's 14.6% revenue growth represents a material gain in share.
Looking ahead to 2026, Workstories will continue to focus on:
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Expanding New Product Development efforts and the proportion of revenue derived from own-brand, design-led product. |
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Enhancing client engagement and deepening strategic client partnerships. |
Workstories Limited
Strategic Report for the Year Ended 31 December 2025
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Converting the investment made in 2025 into operating margin, through utilisation of the enlarged warehouse, fleet and installation capability. |
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Delivering the sustainability goals published for 2026 and extending the Scope 1 and 2 emissions baseline established in 2025. |
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Improving working capital efficiency, with particular focus on debtor days and the conversion of trading profit into cash. |
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Calculating and publishing embodied carbon data for core products, and introducing transparency labelling on all new |
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Preparing full evidence packs to support clients pursuing BREEAM, WELL and LEED certification, and issuing an ESG questionnaire across the supplier base. |
Over a longer horizon the company has committed to achieving Net Zero by 2045, supported by the measurement and publication of Scope 3 emissions, a transition of energy use to green tariffs, and the calculation and publication of recycled and recyclable content for every product.
Despite external challenges, the company is well positioned for continued growth and profitability. With a strong leadership team, a robust product portfolio and a clear commitment to sustainability and operational excellence, Workstories is set to thrive in the evolving market landscape. The Workstories team is more committed than ever to being a trusted partner in all furniture decisions, ensuring clients receive innovative, high-quality solutions tailored to their needs.
Health and safety, employees and environment
The company aims to identify, assess and control occupational health hazards. Every new case of a work-related injury is reported to the Board, including outcomes of and corrective action resulting from Health and Safety checks.
The company previously introduced enhanced health and safety measures to make sure we are fully compliant with government recommendations to secure that the workplace environment is as safe as possible for staff, and for those visiting our premises and engaging with the business. In parallel, flexible working between office and home continues to be actively supported.
Workstories Limited
Strategic Report for the Year Ended 31 December 2025
Principal risks and uncertainties
The company uses basic financial instruments, other than derivatives, comprising borrowings, cash and various items, such as trade debtors and trade creditors that arise directly from its operations. The main purpose of these financial instruments is to raise finance for the company's operations.
The management of the business is subject to a number of risks, which are reviewed by the board and appropriate procedures put in place to monitor and mitigate. The key risks are liquidity risk, customer credit exposure, interest rate risk and foreign exchange risk.
Liquidity and cashflow risks are actively managed by the directors.
Liquidity risk
The objective of the company in managing liquidity risk is to ensure that it can meet its financial obligations as and when they fall due. The company expects to meet these obligations through a combination of operating cashflows and credit facilities already in place.
Customer credit risk
The company may offer credit terms to its customers which allow payment of a proportion of the debt after delivery of goods or services. The company is at risk to the extent that a customer may be unable to pay the debt on a specified date. This risk is mitigated by advance customer deposits, by maintaining strong customer relationships and by closely monitoring outstanding debts from all sources.
Interest rate risk
The company finances its operations through a mixture of working capital, invoice discounting and other borrowings. At present, given the size and nature of the company's operations, all bank borrowings are at floating rates. The company matches scheduled interest and borrowing payments with expected future cash flows from the company's trading activities.
Foreign exchange risk
The company is exposed to currency exchange rate risk due to a portion of its payables being denominated in non-sterling currencies. The net exposure of each currency is monitored by reviewing forward exchange rates and taking account of anticipated movements when negotiating key transactions and contracts.
Supply chain and international trade risk
The company relies on a network of manufacturing partners for finished goods and components. Disruption within the supply chain, changes to freight rates or the introduction of tariffs and trade measures may affect lead times or costs. The company monitors supplier performance, maintains ongoing dialogue to help ensure continuity of supply, and manages concentration risk through its sourcing strategy.
Information technology and cyber risk
The company depends on its information systems for order processing, stock control, manufacturing scheduling, delivery planning and financial reporting. The directors recognise the risk of system failure, loss of data and cyber attack, and manage it through access controls, backup and recovery arrangements, supported and maintained software, and staff awareness. Investment in the company's core operating system continues, with the objective of improving data quality and integrating manufacturing, warehouse, installation and finance processes on a single platform. The company holds Cyber Essentials certification covering the whole organisation, first certified in July 2025 and due for recertification in July 2026.
Competitive environment
The contract furniture sector remains highly competitive, with established domestic and international competitors and continued consolidation, including the acquisition of UK manufacturers by international groups with significant capital behind them. The company seeks to mitigate this risk through its own-brand, design-led product strategy, consistent product quality, and the strength of its relationships with architects, designers and end clients.
Workstories Limited
Strategic Report for the Year Ended 31 December 2025
Research and development
The company continues to undertake research and development in order to improve and diversify its product and service offering. Development expenditure meeting the criteria set out in the accounting policies is capitalised, with additions of £14,157 in the year.
Future developments
The principal activity is expected to remain consistent for the foreseeable future, and the business will continue to assess trends and opportunities in the furniture solution markets to maintain activity levels and achieve further growth. With a strong sales pipeline for 2026 the company is expected to continue to be profitable.
The directors continue to assess opportunities to broaden the company’s product range, manufacturing capability and geographic reach, including by partnership where the strategic fit and the commercial terms are right.
Summary
The board continuously monitor for and respond to changes in the company's risk environment, so ensuring that the company remains well placed to address operational, reputational, financial and business risks in a timely and appropriate manner.
Approved by the
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Director
Workstories Limited
Directors' Report for the Year Ended 31 December 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
Directors of the company
The directors who held office during the year were as follows:
Dividends
No interim dividends were paid or proposed during the year (2024: £Nil). No final dividend is proposed.
Directors' liabilities
As permitted by the Articles of Association, the Directors have the benefit of an indemnity which is a qualifying third party indemnity provision as defined by Section 234 of the Companies Act 2006. The indemnity was in force throughout the last financial year and is currently in force.
Disclosure of information in the Strategic Report
The company has chosen in accordance with s.414C(11) Companies Act 2006 to set out in the company's strategic report information required by Schedule 7 of the Large and Medium-sized Companies and Groups
(Accounts and Reports) Regulations 2008 to be contained in the directors' report. It has done so in respect of future developments, research & development and financial instruments.
Disclosure of information to the auditor
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Approved by the director on
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J S Harradine
Director
Workstories Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Workstories Limited
Independent Auditor's Report to the Members of Workstories Limited
for the Year Ended 31 December 2025
Opinion
We have audited the financial statements of Workstories Limited (the 'company') for the year ended 31 December 2025, which comprise the Statement of Income and Retained Earnings, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Workstories Limited
Independent Auditor's Report to the Members of Workstories Limited
for the Year Ended 31 December 2025
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors' remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities (set out on page 11), the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Workstories Limited
Independent Auditor's Report to the Members of Workstories Limited
for the Year Ended 31 December 2025
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Based on our understanding of the company and the industry in which it operates, we determined that the principal risks of non-compliance with laws and regulations related to the reporting framework (FRS 102 and the Companies Act 2006) and UK corporate taxation laws, health and safety legislation, anti-bribery legislation and data protection legislation. These risks were communicated to our audit team and we remained alert to any indications of non-compliance throughout our audit.
We understood how the company is complying with relevant legislation by making enquiries of management. We also considered the results of our audit procedures and to what extent these corroborate this understanding and assessed the susceptibility of the company’s financial statements to material misstatement. This included consideration of how fraud might occur and evaluation of management’s incentives and opportunities for fraudulent manipulation of the financial statements.
We designed our audit procedures to identify any non-compliance with laws and regulations. Such procedures included, but were not limited to, inspection of any regulatory or legal correspondence; challenging assumptions and judgements made by management; identifying and testing journal entries with a focus on large or unusual transactions as determined based on our understanding of the business; and identifying and assessing the effectiveness of controls in place to prevent and detect fraud.
Owing to the inherent limitations of an audit, there remains a risk that a material misstatement may not have been detected, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance with laws and regulations and cannot be expected to detect all instances of non-compliance.
The primary responsibility for the detection and prevention of fraud rests with those responsible for governance and management. The further removed non-compliance with laws and regulations is from the events reflected in the financial statements, the less likely the auditor will become aware of it.
The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment, collusion, omission, misrepresentation or forgery.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Workstories Limited
Independent Auditor's Report to the Members of Workstories Limited
for the Year Ended 31 December 2025
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
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For and on behalf of
130 Shaftesbury Avenue
W1D 5AR
Workstories Limited
Statement of Income and Retained Earnings for the Year Ended 31 December 2025
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|
|
|
|
Other interest receivable and similar income |
- |
|
|
|
Interest payable and similar charges |
( |
( |
|
|
(120,062) |
(17,869) |
||
|
Profit before tax |
|
|
|
|
Taxation |
( |
( |
|
|
Profit for the financial year |
|
|
|
|
Retained earnings brought forward |
1,320,616 |
720,319 |
|
|
Retained earnings carried forward |
1,432,986 |
1,320,616 |
Workstories Limited
Statement of Financial Position as at 31 December 2025
|
Note |
2025 |
2024 |
|
|
Fixed assets |
|||
|
Intangible assets |
|
|
|
|
Tangible assets |
|
|
|
|
|
|
||
|
Current assets |
|||
|
Stocks |
|
|
|
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
1,894 |
1,718 |
|
|
Share premium reserve |
23,694 |
400 |
|
|
Retained earnings |
1,432,986 |
1,320,616 |
|
|
Shareholders' funds |
1,458,574 |
1,322,734 |
Approved and authorised by the
......................................................................
J S Harradine
Director
Company registration number: 08559545
Workstories Limited
Statement of Changes in Equity for the Year Ended 31 December 2025
|
Share capital |
Share premium |
Retained earnings |
Total |
|
|
At 1 January 2024 |
|
|
|
|
|
Profit for the year |
- |
- |
|
|
|
New share capital subscribed |
|
- |
- |
|
|
At 31 December 2024 |
1,718 |
400 |
1,320,616 |
1,322,734 |
|
Share capital |
Share premium |
Retained earnings |
Total |
|
|
At 1 January 2025 |
|
|
|
|
|
Profit for the year |
- |
- |
|
|
|
New share capital subscribed |
|
|
- |
|
|
At 31 December 2025 |
|
|
|
|
Workstories Limited
Statement of Cash Flows for the Year Ended 31 December 2025
|
Note |
2025 |
2024 |
|
|
Cash flows from operating activities |
|||
|
Profit for the year |
|
|
|
|
Adjustments to cash flows from non-cash items |
|||
|
Depreciation and amortisation |
|
|
|
|
Profit on disposal of tangible assets |
( |
( |
|
|
Finance income |
- |
( |
|
|
Finance costs |
|
|
|
|
Income tax expense |
|
|
|
|
|
|
||
|
Working capital adjustments |
|||
|
Decrease/(increase) in stocks |
|
( |
|
|
(Increase)/decrease in trade and other debtors |
( |
|
|
|
Increase/(decrease) in trade and other creditors |
|
( |
|
|
Cash generated from operations |
( |
( |
|
|
Income taxes received |
- |
|
|
|
Net cash flow from operating activities |
( |
( |
|
|
Cash flows from investing activities |
|||
|
Interest received |
- |
|
|
|
Acquisitions of tangible assets |
( |
( |
|
|
Proceeds from sale of tangible assets |
|
|
|
|
Acquisition of intangible assets |
( |
( |
|
|
Net cash flows from investing activities |
( |
( |
|
|
Cash flows from financing activities |
|||
|
Interest paid |
( |
( |
|
|
Proceeds from issue of ordinary shares, net of issue costs |
|
|
|
|
(Repayments)/Proceeds of other borrowing |
|
|
|
|
Payments to finance lease creditors |
( |
( |
|
|
Net cash flows from financing activities |
|
|
|
|
Net decrease in cash and cash equivalents |
( |
( |
|
|
Cash and cash equivalents at 1 January |
|
|
|
|
Cash and cash equivalents at 31 December |
209,263 |
332,721 |
|
Workstories Limited
Notes to the Financial Statements for the Year Ended 31 December 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:
The principal activity of the company is that of the design, sourcing and manufacture of furniture for workspaces.
The principal place of business is:
Parchment House
13 Northburgh Street
London
EC1V 0JP
|
Accounting policies |
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
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.
Going concern
The company made a profit for the year ended 31 December 2025 and had net assets at that date of £1,458,574 including cash at bank of £209,263.
The company has an extensive pipeline of future works and the directors are confident that the company will continue to be profitable in the forthcoming year.
The company operates in sectors which remain in demand and with the resources that the company has, together with the pro-active actions being taken, the company is well positioned to weather the continued economic uncertainty.
On the basis of the above, and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.
Workstories Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company's activities. Turnover is shown net of Value Added Tax, returns, rebates and discounts.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch, when the amount of revenue can be reliably measured.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Workstories Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge 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 company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Research and development
Research expenditure is written off in the period in which it is incurred.
Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met:
• It is technically feasible to complete the intangible asset so that it will be available for use or sale.
• There is the intention to complete the intangible asset and use or sell it;
• There is the ability to use or sell the intangible asset;
• The use or sale of the intangible asset will generate probable future economic benefits;
• There are adequate technical, financial and other resources available to complete the development and use or sell the intangible asset; and
• The expenditure attributable to the intangible asset during its development can be measured reliably.
Expenditure that does not meet the above criteria is expensed as incurred.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Workstories Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Tangible assets
Tangible assets are stated in the statement of financial position 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.
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 |
|
Leasehold property improvements |
Straight line over 4 to 10 years |
|
Furniture, fittings and equipment |
Straight line over 1 to 4 years |
|
Motor vehicles |
Over the length of the lease |
Intangible assets
Intangible assets are stated in the statement of financial position at cost, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
The cost of intangible assets includes directly attributable incremental costs incurred in their acquisition and preparation for their intended use.
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 |
|
Software development costs |
Straight line over 4 years |
|
Product development costs |
Straight line over 4 years |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Workstories Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as
operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis
over the period of the lease. Leases are classified as finance leases whenever the terms of the lease transfer
substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Statement of Financial Position as a finance lease obligation.
Lease payments are apportioned between finance costs in the Income Statement and reduction of the lease
obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Derivative financial instruments
The company does not apply hedge accounting for foreign exchange derivatives.
Workstories Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Turnover |
The analysis of the company's turnover for the year from continuing operations is as follows:
|
2025 |
2024 |
|
|
Sale of goods |
|
|
The company has not disclosed an analysis of turnover by geographical market, as in the opinion of the director this would be prejudicial to the interests of the company.
|
Operating profit |
Arrived at after charging/(crediting)
|
2025 |
2024 |
|
|
Depreciation expense |
|
|
|
Amortisation expense |
|
|
|
Foreign exchange losses/(gains) |
|
( |
|
(Profit)/loss on disposal of fixtures, fittings and equipment |
( |
( |
|
Bad debts |
124,689 |
11,598 |
|
Other interest receivable and similar income |
|
2025 |
2024 |
|
|
Other finance income |
- |
|
|
Interest payable and similar expenses |
|
2025 |
2024 |
|
|
Interest on obligations under finance leases |
|
|
|
Other interest payable |
|
- |
|
Losses on derivative financial instruments |
|
- |
|
|
|
Workstories Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2025 |
2024 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
Other employee expenses |
|
|
|
|
|
The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
|
2025 |
2024 |
|
|
Administration and support |
|
|
|
Management |
|
|
|
Operational |
|
|
|
|
|
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
|
2025 |
2024 |
|
|
Remuneration |
|
|
|
Contributions paid to money purchase pensions schemes |
|
|
|
885,995 |
433,400 |
During the year the number of directors who were receiving benefits and share incentives was as follows:
|
2025 |
2024 |
|
|
Accruing benefits under money purchase pension scheme |
|
|
Remuneration of highest paid director:
|
2025 |
2024 |
|
|
Remuneration |
|
|
|
Company contributions to money purchase pension schemes |
|
|
Workstories Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Auditor's remuneration |
|
2025 |
2024 |
|
|
Audit of the financial statements |
|
|
|
Other fees to auditors |
||
|
Taxation compliance services |
|
|
|
All other non-audit services |
|
|
|
|
|
|
Taxation |
Tax charged/(credited) in the income statement
|
2025 |
2024 |
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
|
|
The tax on profit before tax for the year is lower than the standard rate of corporation tax in the UK (2024 - higher than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2025 |
2024 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Tax decrease from effect of capital allowances and depreciation |
( |
( |
|
Effect of expenses not deductible in determining taxable profit (tax loss) |
|
|
|
Effect of tax losses |
( |
( |
|
Deferred tax movement |
|
|
|
Total tax charge |
|
|
Workstories Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Deferred tax
Deferred tax assets and liabilities
|
2025 |
Asset/(liability) |
|
Accelerated capital allowances |
(46,955) |
|
Tax losses |
51,221 |
|
4,266 |
|
2024 |
Asset/(liability) |
|
Accelerated capital allowances |
( |
|
Tax losses |
|
|
|
|
Intangible assets |
|
Software development costs |
Product development costs |
Total |
|
|
Cost or valuation |
|||
|
At 1 January 2025 |
|
|
|
|
Additions |
- |
|
|
|
At 31 December 2025 |
|
|
|
|
Amortisation |
|||
|
At 1 January 2025 |
|
|
|
|
Amortisation charge |
|
|
|
|
At 31 December 2025 |
|
|
|
|
Carrying amount |
|||
|
At 31 December 2025 |
|
|
|
|
At 31 December 2024 |
|
|
|
Workstories Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Tangible assets |
|
Leasehold |
Furniture, fittings and equipment |
Motor vehicles |
Total |
|
|
Cost or valuation |
||||
|
At 1 January 2025 |
|
|
|
|
|
Additions |
- |
|
|
|
|
Disposals |
- |
( |
( |
( |
|
At 31 December 2025 |
|
|
|
|
|
Depreciation |
||||
|
At 1 January 2025 |
|
|
|
|
|
Charge for the year |
|
|
|
|
|
Eliminated on disposal |
- |
( |
( |
( |
|
At 31 December 2025 |
|
|
|
|
|
Carrying amount |
||||
|
At 31 December 2025 |
|
|
|
|
|
At 31 December 2024 |
|
|
|
|
The carrying value of tangible assets held under finance leases is as follows: Leasehold property improvements - £118,958 (2024: £132,953), Motor vehicles - £107,348 (2024: £91,543) and Furniture, fittings and equipment - £4,177 (2024: £8,011)
|
Stocks |
|
2025 |
2024 |
|
|
Stock |
|
|
Workstories Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Debtors |
|
Note |
2025 |
2024 |
|
|
Trade debtors |
|
|
|
|
Other debtors |
|
|
|
|
Prepayments |
|
|
|
|
Deferred tax asset |
|
|
|
|
Total current trade and other debtors |
|
|
Details of non-current trade and other debtors
£121,259 - (2024 - £121,259) of other debtors is classified as non current. This amount is secured in respect of future rental obligations.
|
Cash and cash equivalents |
|
2025 |
2024 |
|
|
Cash at bank |
|
|
|
Creditors |
|
Note |
2025 |
2024 |
|
|
Due within one year |
|||
|
Loans and borrowings |
|
|
|
|
Trade creditors |
|
|
|
|
Social security and other taxes |
|
|
|
|
Other payables |
|
|
|
|
Accruals |
|
|
|
|
Derivative financial instruments |
|
- |
|
|
|
|
||
|
Due after one year |
|||
|
Loans and borrowings |
|
|
|
Derivative financial instruments |
The company enters into forward foreign currency contracts to mitigate the exchange rate risk for certain foreign currency transactions.
The forward currency contracts are measured at fair value, which is determined using valuation techniques that utilise observable inputs. The key assumption used in valuing the derivatives is the forward exchange rate for GBP-USD.
Workstories Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Loans and borrowings |
|
2025 |
2024 |
|
|
Current loans and borrowings |
||
|
Finance lease liabilities |
|
|
|
Other bank borrowings |
|
|
|
Other loans |
|
|
|
|
|
|
|
2025 |
2024 |
|
|
Non-current loans and borrowings |
||
|
Finance lease liabilities |
|
|
|
Other loans |
|
- |
|
|
|
|
Other bank borrowings comprises a factoring facility secured by a fixed charge over book debts and a fixed and floating charge over the other assets and undertakings of the company.
Liabilities under finance lease agreements are secured on the assets concerned.
|
Pension and other schemes |
The company operates a defined contribution pension scheme. The pension cost charge for the period represents contributions payable by the company to the scheme and amounted to £65,790 (2024 - £55,861).
Workstories Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
1,000 |
|
1,000 |
|
|
|
94 |
- |
- |
|
|
|
59 |
- |
- |
|
|
|
24 |
- |
- |
|
|
|
718 |
|
718 |
|
|
|
|
|
|
There are no restrictions on the repayment of capital or the distribution of dividends.
During the year 9,412 Ordinary B shares, 5,882 Ordinary C shares and 2,353 Ordinary D shares of £0.01 each were allotted and issued for a total consideration of £23,471 ranking pari passu with the Ordinary A shares of £0.01 each.
The G shares carry no voting rights.
|
Share-based payments |
Scheme details and movements
At 31 December 2025 there were Nil (2024: 17,647) unexercised share options in existence
17,647 options vested on 17 June 2025 and were exercised on 25 June 2025 at £1.33 per share
The method used to value the equity-settled share-based payment was based on the earnings of the company as it was considered this approach would result in a materially accurate estimate of the fair value of options granted.
No charge has been made to the profit and loss during the year (2024:£Nil).
|
Reserves |
The profit and loss account includes all current and prior retained earnings and accumulated losses.
Workstories Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Commitments, guarantees and contingencies |
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 |
|
|
|
Later than five years |
|
|
|
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
|
Analysis of changes in net debt |
|
At 1 January 2025 |
Cash flows |
New finance leases |
At 31 December 2025 |
|
|
Cash and cash equivalents |
||||
|
Cash |
332,721 |
(123,458) |
- |
209,263 |
|
Borrowings |
||||
|
Other bank borrowings |
(1,427,696) |
156,470 |
- |
(1,271,226) |
|
Other loans |
(500,000) |
(500,000) |
- |
(1,000,000) |
|
Finance leases |
(94,100) |
30,909 |
(36,289) |
(99,480) |
|
(2,021,796) |
(312,621) |
(36,289) |
(2,370,706) |
|
|
( |
( |
( |
( |
|
|
|
||||
Workstories Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Related party transactions |
Key management personnel includes all persons that have the authority and responsibility for planning, directing and controlling the company's activities.
Key management compensation
|
2025 |
2024 |
|
|
Salaries and other short term employee benefits |
|
|
Transactions with companies under common control
At 31 December 2025 an amount of £687,926 (2024: £Nil) was due from companies under common control.
During the year, the company purchased goods amounting to £745,971 (2024: £Nil) from companies under common control.
|
Ultimate Control |
The ultimate controlling party is J S Harradine.