REGISTERED NUMBER: OC303990 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

IFS EMPLOYEE BENEFITS LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

B C Wycherley

P V Baker

P Duffy

Mrs P A Wycherley

Mrs A Baker

Mrs D Duffy

S A Baker

Ms G A Baker

REGISTERED OFFICE:

Chargrove House

Shurdington Road

Cheltenham

Gloucestershire

GL10 3RF

BUSINESS ADDRESS:

4 Annex,

The Wheelhouse,

Bond's Mill,

Stonehouse

Gloucestershire

GL10 3RF

REGISTERED NUMBER:

OC303990 (England and Wales)

ACCOUNTANTS:

Randall & Payne LLP

Chartered Accountants

Chargrove House

Shurdington Road

Cheltenham

Gloucestershire

GL51 4GA

FIXED ASSETS

Tangible assets

4

3,609

4,746

CURRENT ASSETS

Debtors

5

48,716

55,309

Cash at bank

30,582

25,714

79,298

81,023

CREDITORS

Amounts falling due within one year

6

34,638

34,822

NET CURRENT ASSETS

44,660

46,201

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

48,269

50,947

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

48,269

50,947

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

48,269

50,947

Amounts due from members

5

(8,890

)

(22,992

)

39,379

27,955

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2025.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 22 October 2025 and were signed by:

B C Wycherley - Designated member

S A Baker - Designated member

1.	STATUTORY INFORMATION

IFS Employee Benefits LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Going concern

The partners have considered the risks and issues concerning the business and its activities, and conclude that there are no material uncertainties that may cast significant doubt about the ability to continue as a going concern.

Turnover

Turnover represents fees raised excluding value added tax at the date at which the matter is completed. All fees for the year are raised before the year end, and as such there is no work in progress.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on reducing balance

Financial instruments

Financial Instruments are classified by the directors as basic or advanced following the conditions in FRS102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

Provisions

Provisions are recognised only where a present obligation exists as a result of a past transaction or event at or prior to the balance sheet date. In addition, a provision is only recognised where the amounts involved can be reliably estimated. Where material, provisions are calculated on a discounted basis.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 7 (2024 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

2,545

16,115

18,660

DEPRECIATION

At 1 April 2024

2,058

11,856

13,914

Charge for year

73

1,064

1,137

At 31 March 2025

2,131

12,920

15,051

NET BOOK VALUE

At 31 March 2025

414

3,195

3,609

At 31 March 2024

487

4,259

4,746

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

35,103

27,986

Amounts due from members

8,890

22,992

Other debtors

752

752

Prepayments

3,971

3,579

48,716

55,309

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

6,444

6,016

Social security and other taxes

2,679

3,130

Pensions

2,785

2,496

VAT

20,690

19,534

Accrued expenses

2,040

3,646

34,638

34,822

Short term creditors are measured at transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of the LLP winding up, creditors interests will be met first and interests of the members will be met last.