I really like it - and I'm not from London, and can still understand the put-on accents and jokes. I agree with the posters who said it was like 15 Storeys High and such... I even think there are parallels with such great comedies as Father Ted and The Office, given how surreal and daft much of the comedy is...
It might not be laugh out loud, but what is these days? I work in an office and found much of The Office cringeworthy as it was so close to what you see acted out in those kinRAB of environments... Still, brilliant.
I think it's intelligent and funny. The fact that the cast are improvising and creating the stories is to be applauded...