REGISTERED NUMBER: OC303990 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

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

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

CURRENT ASSETS

Debtors

5

7,926

48,716

Cash at bank

60,155

30,582

68,081

79,298

CREDITORS

Amounts falling due within one year

6

9,484

34,638

NET CURRENT ASSETS

58,597

44,660

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

58,597

48,269

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

58,597

48,269

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

58,597

48,269

Amounts due from members

5

(6,273

)

(8,890

)

52,324

39,379

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 2026.

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 30 July 2026 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 sold the business in this financial year and this will be the last formal set of accounts before the LLP is dissolved.

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 (2025 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2025

2,545

16,115

18,660

Disposals

(2,545

)

(16,115

)

(18,660

)

At 31 March 2026

-

-

-

DEPRECIATION

At 1 April 2025

2,131

12,920

15,051

Eliminated on disposal

(2,131

)

(12,920

)

(15,051

)

At 31 March 2026

-

-

-

NET BOOK VALUE

At 31 March 2026

-

-

-

At 31 March 2025

414

3,195

3,609

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

-

35,103

Amounts due from members

6,273

8,890

Other debtors

-

752

VAT

1,653

-

Prepayments

-

3,971

7,926

48,716

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

2026

2025

£

£

Trade creditors

-

6,443

Social security and other taxes

-

2,679

Pensions

-

2,785

VAT

-

20,690

Accrued expenses

9,484

2,041

9,484

34,638

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.