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REGISTERED NUMBER: OC369446 (England and Wales)















REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

GUSTAFSON PORTER + BOWMAN LLP

GUSTAFSON PORTER + BOWMAN LLP (REGISTERED NUMBER: OC369446)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2023










Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


GUSTAFSON PORTER + BOWMAN LLP

GENERAL INFORMATION
For The Year Ended 31 March 2023







DESIGNATED MEMBERS: Mr Neil Porter
Ms Kathryn Gustafson
Ms Mary Bowman





REGISTERED OFFICE: 1 Cobham Mews
London
NW1 9SB





REGISTERED NUMBER: OC369446 (England and Wales)





ACCOUNTANTS: BAND Advisory Group Limited
111 Charterhouse Street
London
EC1M 6AW

GUSTAFSON PORTER + BOWMAN LLP (REGISTERED NUMBER: OC369446)

REPORT OF THE MEMBERS
For The Year Ended 31 March 2023


The members present their report with the financial statements of the LLP for the year ended 31 March 2023.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of landscape architects.

DESIGNATED MEMBERS
The designated members during the year under review were:

Mr Neil Porter
Ms Kathryn Gustafson
Ms Mary Bowman

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £422,902 (2022 - £348,955 profit).

MEMBERS' INTERESTS
The members' drawing policy allows each member to draw a proportion of their profit share, subject to the cash requirements of the business.

A member's capital requirement is linked to their share of profit and the financing requirement of the limited liability partnership. There is no opportunity for appreciation of the capital subscribed. Just as incoming members introduce their capital at 'par', so the retiring members are repaid their capital at 'par'.

ON BEHALF OF THE MEMBERS:





Ms Mary Bowman - Designated member


30 October 2023

GUSTAFSON PORTER + BOWMAN LLP (REGISTERED NUMBER: OC369446)

INCOME STATEMENT
For The Year Ended 31 March 2023

2023 2022
Notes £    £   

TURNOVER 2,058,138 1,792,803

Cost of sales 889,478 823,810
GROSS PROFIT 1,168,660 968,993

Administrative expenses 750,872 640,481
417,788 328,512

Other operating income 5,000 21,960
OPERATING PROFIT 4 422,788 350,472

Interest receivable and similar income 1,200 260
423,988 350,732

Interest payable and similar expenses 1,086 1,777
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES


422,902


348,955

PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES


422,902


348,955

Members' remuneration charged as an
expense

5

(422,902

)

(348,955

)
PROFIT FOR THE FINANCIAL YEAR
AVAILABLE FOR DISCRETIONARY
DIVISION AMONG MEMBERS


-


-

GUSTAFSON PORTER + BOWMAN LLP (REGISTERED NUMBER: OC369446)

BALANCE SHEET
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 6 50,550 56,762
Investments 7 3,888 3,888
54,438 60,650

CURRENT ASSETS
Debtors 8 606,919 671,592
Cash at bank and in hand 403,719 343,515
1,010,638 1,015,107
CREDITORS
Amounts falling due within one year 9 623,891 652,790
NET CURRENT ASSETS 386,747 362,317
TOTAL ASSETS LESS CURRENT
LIABILITIES

441,185

422,967

CREDITORS
Amounts falling due after more than one
year

10

(22,500

)

(31,341

)

PROVISIONS FOR LIABILITIES (25,000 ) -
NET ASSETS ATTRIBUTABLE TO
MEMBERS

393,685

391,626

GUSTAFSON PORTER + BOWMAN LLP (REGISTERED NUMBER: OC369446)

BALANCE SHEET - continued
31 March 2023

2023 2022
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

11

33,685

31,626

MEMBERS' OTHER INTERESTS
Capital accounts 360,000 360,000
393,685 391,626

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 11 33,685 31,626
Members' other interests 360,000 360,000
Amounts due from members 8 (25,796 ) (37,130 )
367,889 354,496

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 2023.

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 in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 30 October 2023 and were signed by:




Ms Mary Bowman - Designated member




Mr Neil Porter - Designated member


GUSTAFSON PORTER + BOWMAN LLP (REGISTERED NUMBER: OC369446)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2023


1. STATUTORY INFORMATION

Gustafson Porter + Bowman LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

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.

Turnover
Fee income represents revenue earned under a wide variety of contracts to provide landscape architectural services. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts.

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method.

A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

GUSTAFSON PORTER + BOWMAN LLP (REGISTERED NUMBER: OC369446)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 24 (2022 - 23 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

2023 2022
£    £   
Depreciation - owned assets 16,849 18,921
Pension costs 36,591 35,189

5. INFORMATION IN RELATION TO MEMBERS
2023 2022
£    £   
Members' remuneration charged as an expense
Partners' salaries 422,902 348,955

2023 2022

The average number of members during the year was 5 5

GUSTAFSON PORTER + BOWMAN LLP (REGISTERED NUMBER: OC369446)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023


6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 205,768
Additions 10,637
At 31 March 2023 216,405
DEPRECIATION
At 1 April 2022 149,006
Charge for year 16,849
At 31 March 2023 165,855
NET BOOK VALUE
At 31 March 2023 50,550
At 31 March 2022 56,762

7. FIXED ASSET INVESTMENTS
Interest
in joint
venture
£   
COST
At 1 April 2022
and 31 March 2023 3,888
NET BOOK VALUE
At 31 March 2023 3,888
At 31 March 2022 3,888

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 410,254 384,507
Amounts recoverable on contract - 66,142
Other debtors 196,665 220,943
606,919 671,592

GUSTAFSON PORTER + BOWMAN LLP (REGISTERED NUMBER: OC369446)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023


9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 11,164
Payments on account 269,224 257,498
Trade creditors 131,663 191,826
Taxation and social security 136,726 75,068
Other creditors 76,278 117,234
623,891 652,790

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 22,500 31,341

11. LOANS AND OTHER DEBTS DUE TO MEMBERS

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

12. RELATED PARTY DISCLOSURES

During the year, the LLP was charged rent of £116,597 (2022: £71,973) by BGP Studio LLP, a limited liability partnership of which Ms M Bowman, Ms K Gustafson and Mr N Porter are members.

During the period the LLP provided funding to BGP Studio LLP and at the year end , the LLP was owed £10,994 (2022: £7,687).

During the period the LLP provided funding to Gustafson Porter Bowman Ltd and at the year end , the LLP was owed £43,374 (2022: £78,424).