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REGISTERED NUMBER: OC369446 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

GUSTAFSON PORTER + BOWMAN LLP
GUSTAFSON PORTER BOWMAN LLP

GUSTAFSON PORTER + BOWMAN LLP (REGISTERED NUMBER: OC369446)
GUSTAFSON PORTER BOWMAN LLP

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2024










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GUSTAFSON PORTER + BOWMAN LLP
GUSTAFSON PORTER BOWMAN LLP

GENERAL INFORMATION
For The Year Ended 31 March 2024







DESIGNATED MEMBERS: Mr Neil Porter
Ms Kathryn Gustafson
Ms Mary Bowman
Ms Sibylla Hartel
Mr Donncha O'Shea





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)
GUSTAFSON PORTER BOWMAN LLP

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 53,328 50,550
Investments 5 3,888 3,888
57,216 54,438

CURRENT ASSETS
Debtors 6 439,422 605,540
Cash at bank 266,169 403,719
705,591 1,009,259
CREDITORS
Amounts falling due within one year 7 371,913 623,891
NET CURRENT ASSETS 333,678 385,368
TOTAL ASSETS LESS CURRENT
LIABILITIES

390,894

439,806

CREDITORS
Amounts falling due after more than one
year

8

(15,924

)

(22,500

)

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

374,970

392,306

GUSTAFSON PORTER + BOWMAN LLP (REGISTERED NUMBER: OC369446)
GUSTAFSON PORTER BOWMAN LLP

BALANCE SHEET - continued
31 March 2024

2024 2023
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

14,970

32,306

MEMBERS' OTHER INTERESTS
Capital accounts 360,000 360,000
374,970 392,306

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 14,970 32,306
Members' other interests 360,000 360,000
Amounts due from members 6 (43,558 ) (24,417 )
331,412 367,889

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 2024.

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 15 November 2024 and were signed by:



Ms Mary Bowman - Designated member



Mr Neil Porter - Designated member


GUSTAFSON PORTER + BOWMAN LLP (REGISTERED NUMBER: OC369446)
GUSTAFSON PORTER BOWMAN LLP

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2024


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)
GUSTAFSON PORTER BOWMAN LLP

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2024


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 21 (2023 - 24 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 216,405
Additions 20,554
At 31 March 2024 236,959
DEPRECIATION
At 1 April 2023 165,855
Charge for year 17,776
At 31 March 2024 183,631
NET BOOK VALUE
At 31 March 2024 53,328
At 31 March 2023 50,550

5. FIXED ASSET INVESTMENTS
Interest
in joint
venture
£   
COST
At 1 April 2023
and 31 March 2024 3,888
NET BOOK VALUE
At 31 March 2024 3,888
At 31 March 2023 3,888

GUSTAFSON PORTER + BOWMAN LLP (REGISTERED NUMBER: OC369446)
GUSTAFSON PORTER BOWMAN LLP

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 210,233 410,254
Amounts due from members 43,558 24,417
Amounts recoverable on contract 67,059 -
Other debtors 16,531 54,583
Prepayments 102,041 116,286
439,422 605,540

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 7,077 10,000
Payments on account 50,240 269,224
Trade creditors 130,708 131,663
Social security and other taxes 18,620 22,071
VAT 37,243 114,655
Other creditors 47,405 (1 )
Accrued expenses 80,620 76,279
371,913 623,891

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2-5 years 15,924 22,500

9. 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.

10. RELATED PARTY DISCLOSURES

During the year, the LLP was charged rent of £121,140 (2023: £116,597) 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 £16,656 (2023: £10,994).

During the period the LLP provided funding to Gustafson Porter Bowman Ltd and at the year end , the LLP owed £42,840 (2023: - £43,374).