BPTW LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

1	General information

The limited liability partnership is incorporated in the United Kingdom under the Limited Liability Partnership Act 2000. The address of the registered office is:

40 Norman Road
Greenwich
London
SE10 9QX

The principal activity of the limited liability partnership is that of the provision of architectural and urban design services.

AUDIT REPORT

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 9 October 2025 was Martin Widdowson, who signed for and on behalf of Brebners.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006 as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (application of Companies Act 2006) Regulations 2008 and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in January 2017 (SORP 2017).

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items may be shown at fair value and are presented in sterling, which is the functional currency of the entity.

Going concern

The limited liability partnership generated a profit before members' remuneration and profit shares for the year ended 31 March 2025 and had net assets attributable to members of £1,249,255, including cash at bank of £863,096 at that date.

Subsequent to 31 March 2025 the limited liability partnership has continued to trade profitably. Therefore the members are confident that the limited liability partnership has adequate resources to continue in operational existence for the foreseeable future.

Accordingly, the members continue to adopt the going concern basis in preparing the financial statements.

BPTW LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

Revenue recognition

Turnover represents amounts receivable for services net of VAT and trade discounts. Services provided to clients, which at the statement of financial position date have not been billed, are recognised as accrued revenue. Revenue recognised in this manner is based on an assessment of the fair value of the services provided at the statement of financial position date as a proportion of the total value of the engagement.

Revenue is only recognised where there is a contractual right to receive consideration for work undertaken. If at the statement of financial position date, completion of contractual obligations is dependent on external factors and thus outside the control of the limited liability partnership, then revenue is recognised only when the event occurs. In such cases, costs incurred up to the statement of financial position date are carried forward as work in progress.

Division and distribution of profits

A division of profits is the mechanism by which the profits of an limited liability partnership become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the limited liability partnership does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits required a decision to be made by the limited liability partnership, which it has the unconditional right to avoid making.

The limited liability partnership divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense' in the profit and loss account.

Taxation

Any taxation payable on the partnership's profits is the personal liability of the members. No provisions are made in these accounts for any amounts payable.

Tangible fixed assets

Tangible assets are stated in the balance sheet at cost less accumulated depreciation and impairment. They are depreciated on a straight line basis over their estimated useful lives. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Leasehold improvements	Straight line over the term of the lease
Motor vehicles	25% straight line
Fixtures and fittings	20% straight line
Computer equipment	33% straight line
Office equipment	20-33% straight line

Amounts recoverable under long term contracts

Amounts recoverable under contracts are recognised based on the stage of completion of the contract at the end of the reporting period. Amounts calculated by reference to time spent are recognised as incurred.

BPTW LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

Operating leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Provisions

Provisions are recognised when the limited liability partnership has an obligation at the reporting date as a result of a past event, it is probable that the limited liability partnership will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to profit or loss in the year that the limited liability partnership becomes aware of the obligation, and are measured at the balance sheet date as the best estimate of the expenditure required to settle the obligation, taking into account any relevant risks and uncertainties.

Members' interests

Members' participation rights are the rights of a member against the limited liability partnership that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members' participation rights in the earnings or assets of the limited liability partnership are analysed between those that are, from the limited liability partnership's perspective, either a financial liability or equity. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the limited liability partnership.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the limited liability partnership has an unconditional right to refuse payment to members. If the limited liability partnership does not have such an unconditional right, such amounts are classified as liabilities.

Where profits are automatically divided as they arise, so the limited liability partnership does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the profit and loss account in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.

Conversely, where profits are divided only after a decision by the limited liability partnership or its representative, so that the limited liability partnership has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the profit and loss account and are equity appropriations in the statement of financial position.

BPTW LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the limited liability partnership has, in each case, an unconditional right to refuse payment.

All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the profit and loss account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the statement of financial position date.

Pensions and other post retirement obligations

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the LLP has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contributions plans are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

3	Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 113 (2024 - 118).

4	Auditor's remuneration

	2025  £	2024  £
Audit of the financial statements	15,750	15,000

BPTW LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

6

Debtors

	2025 £	(As restated) 2024 £
Trade debtors	1,779,501	2,495,483
Other debtors	608,065	834,792
Prepayments and accrued income	586,357	588,643
Total current trade and other debtors	2,973,923	3,918,918

7	Creditors: Amounts falling due within one year

	2025 £	(As restated) 2024 £
Bank loans and overdrafts	388,927	420,916
Trade creditors	506,018	471,307
Other creditors	819,061	1,104,216
Accruals and deferred income	179,531	113,642
Taxation and social security	447,135	664,648
	2,340,672	2,774,729

8	Creditors: Amounts falling due after more than one year

	2025 £	2024 £
Bank loans and overdrafts	19,000	133,000
Other creditors	166,832	-
	185,832	133,000

9	Prior period adjustments

During the year the members identified that in the prior year's financial statements, members' capital was overstated by £90,000 following the retirement of a member. This has been corrected in these financial statements and the comparative figures have been restated, with net assets at 31 March 2024 £90,000 less then previous stated. This adjustment has no impact on the result for the previous year.

10	Members' transactions

Included within other debtors is an amount of £2,500 (2024 - £2,500) due from pension schemes of which certain members of the limited liability partnership are beneficiaries ('SIPP'). During the year an amount of £255,256 (2024 - £255,256) was paid to the SIPP in respect of rent.

BPTW LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

11	Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments not included in the statement of financial position is £654,134 (2024 - £924,701).