Limited Liability Partnership Registration No. OC344936 (England and Wales)
Inter-Staff UK LLP
Annual report and unaudited financial statements
for the year ended 31 March 2025
Pages for filing with the registrar
Inter-Staff UK LLP
Contents
Page
Statement of financial position
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 11
Inter-Staff UK LLP
Statement of financial position
As at 31 March 2025
1
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
4
-
150,000
Tangible assets
5
610,822
641,185
610,822
791,185
Current assets
Stocks
3,000
3,000
Debtors
6
628,376
413,443
Cash at bank and in hand
115,299
486,015
746,675
902,458
Creditors: amounts falling due within one year
7
(504,105)
(1,070,506)
Net current assets/(liabilities)
242,570
(168,048)
Total assets less current liabilities
853,392
623,137
Creditors: amounts falling due after more than one year
8
(206,630)
(324,191)
Net assets attributable to members
646,762
298,946
Represented by:
Loans and other debts due to members within one year
9
Amounts due in respect of profits
435,296
117,480
Members' other interests
9
Revaluation reserve
211,466
181,466
646,762
298,946

The members of the limited liability partnership have elected not to include a copy of the income statement within the financial statements.

For the financial period ended 31 March 2025 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

Inter-Staff UK LLP
Statement of financial position (continued)
As at 31 March 2025
2
The financial statements were approved by the members and authorised for issue on 16 July 2025 and are signed on their behalf by:
16 July 2025
Mr A P Lawton
Designated member
Limited Liability Partnership registration number OC344936 (England and Wales)
Inter-Staff UK LLP
Statement of changes in equity
For the year ended 31 March 2025
3
Members' capital
Revaluation reserve
Other reserves
Total
£
£
£
£
Balance at 1 January 2023
17,155
-
-
17,155
Period ended 31 March 2024:
Profit for the year
-
-
1,114,633
1,114,633
Other comprehensive income:
Revaluation of land and buildings
-
181,466
-
181,466
Total comprehensive income for the year
-
181,466
1,114,633
1,296,099
Other division of profits
-
-
(1,114,633)
(1,114,633)
Transfer of former members interest to creditors
(17,155)
-
-
(17,155)
Balance at 31 March 2024
-
181,466
-
181,466
Year ended 31 March 2025:
Profit for the year
-
-
134,816
134,816
Other comprehensive income:
Revaluation of land and buildings
-
30,000
-
30,000
Total comprehensive income for the year
-
30,000
134,816
164,816
Other division of profits
-
-
(134,816)
(134,816)
Balance at 31 March 2025
-
211,466
-
211,466
Inter-Staff UK LLP
Notes to the financial statements
For the year ended 31 March 2025
4
1
Accounting policies
Limited liability partnership information

Inter-Staff UK LLP is a limited liability partnership incorporated in England and Wales. The registered office is 16 Alvaston Business Park, Middlewich Road, Nantwich, Cheshire, CW5 6PF.

 

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Reporting period

The reporting period spans 12 months to 31 March 2025. The previous period covered the 15 months to 31 March 2024.

1.2
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.3
Turnover

Turnover represents amounts receivable for the provision of services net of VAT and trade discounts.

 

Turnover from a contract to provide services is recognised in the period in which the services are provided and once the associated costs can be reliably measured.

1.4
Members' participating interests

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

 

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as ‘Loans and other debts due to members’ to the extent they exceed debts due from a specific member.

1.5
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of

net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less

accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful

life and is amortised on a systematic basis over its expected life of 10 years.

Inter-Staff UK LLP
Notes to the financial statements (continued)
For the year ended 31 March 2025
1
Accounting policies (continued)
5
1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Not depreciated
Plant and equipment
20% reducing balance
Fixtures and fittings
25% reducing balance
Computers
20% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the income statement.

During the prior period, the depreciation rate for Freehold land and Buildings was changed from depreciating on a 15% reducing balance, to being held at fair value. This is in order to ensure that the carrying value of the asset does not materially differ to its true market value. This resulted in a revaluation gain of £181,465 in the prior period, held within other comprehensive income on the statement of profit or loss, and transferred to the revaluation reserve within equity. In the current year, there has been a further revaluation gain of £30,000 which has also been treated in line with this policy.

1.7
Stocks

Stocks are stated at the lower of cost and net realisable value.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The limited liability partnership has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Inter-Staff UK LLP
Notes to the financial statements (continued)
For the year ended 31 March 2025
1
Accounting policies (continued)
6
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the limited liability partnership transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the limited liability partnership after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

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

Derecognition of financial liabilities

Financial liabilities are derecognised when the limited liability partnership’s obligations expire or are discharged or cancelled.

1.10
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Inter-Staff UK LLP
Notes to the financial statements (continued)
For the year ended 31 March 2025
1
Accounting policies (continued)
7

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease.

2
Critical accounting judgements and key sources of estimation uncertainty

In the application of the limited liability partnership’s accounting policies, the members are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average number of persons (excluding members) employed by the partnership during the year was:

2025
2024
Number
Number
Total
-
0
-
0
4
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2024 and 31 March 2025
2,500,000
Amortisation and impairment
At 1 April 2024
2,350,000
Amortisation charged for the year
150,000
At 31 March 2025
2,500,000
Carrying amount
At 31 March 2025
-
At 31 March 2024
150,000
Inter-Staff UK LLP
Notes to the financial statements (continued)
For the year ended 31 March 2025
8
5
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2024
240,000
745,343
985,343
Additions
-
38,885
38,885
Revaluation
30,000
-
30,000
At 31 March 2025
270,000
784,228
1,054,228
Depreciation and impairment
At 1 April 2024
-
344,158
344,158
Depreciation charged in the year
-
99,248
99,248
At 31 March 2025
-
443,406
443,406
Carrying amount
At 31 March 2025
270,000
340,822
610,822
At 31 March 2024
240,000
401,185
641,185

The members deem the fair value of the property as at 31 March 2025 to be £270,000 (2024 - £240,000) and have arrived at this value based on market evidence. The gain in the year has been recognised within other comprehensive income and is held within the revaluation reserve.

6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
626,644
409,401
Other debtors
1,732
4,042
628,376
413,443

 

Inter-Staff UK LLP
Notes to the financial statements (continued)
For the year ended 31 March 2025
-- (continued)
9
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
225,655
96,039
Obligations under finance leases
54,937
60,857
Trade creditors
97,693
72,644
Other taxation and social security
78,262
135,255
Other creditors
32,058
699,386
Accruals and deferred income
15,500
6,325
504,105
1,070,506

Bank borrowings are secured on the assets of the LLP.

 

Obligations under finance leases are secured on the assets purchased.

8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
32,010
128,052
Other creditors
174,620
196,139
206,630
324,191

 

Inter-Staff UK LLP
Notes to the financial statements (continued)
For the year ended 31 March 2025
10
9
Reconciliation of Members' Interests
Equity
Debt
Total
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
Member's
interests
Revaluation
reserve
Other reserves
Total
Other amounts
Total
Total
2025
£
£
£
£
£
£
Members' interests at 1 April 2024
181,466
-
181,466
117,480
117,480
298,946
Members' remuneration charged as an expense, including employment costs and retirement benefit costs
-
-
-
474,500
474,500
474,500
Profit for the financial year available for discretionary division among members
-
134,816
134,816
-
-
134,816
Members' interests after profit and remuneration for the year
181,466
134,816
316,282
591,980
591,980
908,262
Allocation of profit for the financial year
-
-
-
134,816
134,816
134,816
Other divisions of profits
-
(134,816)
(134,816)
-
-
(134,816)
Surplus arising on revaluation of fixed assets
30,000
-
30,000
-
-
30,000
Introduced by members
-
-
-
700,000
700,000
700,000
Drawings on account and distributions of profit
-
-
-
(991,500)
(991,500)
(991,500)
Members' interests at 31 March 2025
211,466
-
211,466
435,296
435,296
646,762
Inter-Staff UK LLP
Notes to the financial statements (continued)
For the year ended 31 March 2025
11
10
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

11
Operating lease commitments
Lessee

At the reporting end date the limited liability partnership had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
86,295
57,875
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