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REGISTERED NUMBER: OC335994 (England and Wales)




































FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

SNOWDONIA AEROSPACE LLP

SNOWDONIA AEROSPACE LLP (REGISTERED NUMBER: OC335994)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SNOWDONIA AEROSPACE LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2017







DESIGNATED MEMBERS: L Paul
Ocean Park Investments Ltd
Putney Investments Limited
D Young
C J Mondahl





REGISTERED OFFICE: Estates Office
Maritime House
Southwell Park
Portland
Dorset
DT5 2NA





REGISTERED NUMBER: OC335994 (England and Wales)





ACCOUNTANTS: Compass Accountants Limited
Chartered Accountants
Venture House
The Tanneries
East Street
Titchfield
Hampshire
PO14 4AR

SNOWDONIA AEROSPACE LLP (REGISTERED NUMBER: OC335994)

BALANCE SHEET
31 MARCH 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,627,065 1,503,934

CURRENT ASSETS
Stocks 11,912 12,590
Debtors 5 343,961 326,936
Cash at bank and in hand 80,580 15,115
436,453 354,641
CREDITORS
Amounts falling due within one year 6 1,798,668 1,607,542
NET CURRENT LIABILITIES (1,362,215 ) (1,252,901 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

264,850

251,033

ACCRUALS AND DEFERRED INCOME 220,571 224,607
NET ASSETS ATTRIBUTABLE TO
MEMBERS

44,279

26,426

LOANS AND OTHER DEBTS DUE TO
MEMBERS

44,279

26,426

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 44,279 26,426
Amounts due from members 5 (314,858 ) (190,295 )
(270,579 ) (163,869 )

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 2017.

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.

SNOWDONIA AEROSPACE LLP (REGISTERED NUMBER: OC335994)

BALANCE SHEET - continued
31 MARCH 2017


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 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 small LLPs.

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 on 2 November 2017 and were signed by:





Ocean Park Investments Ltd - Designated member

SNOWDONIA AEROSPACE LLP (REGISTERED NUMBER: OC335994)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017


1. STATUTORY INFORMATION

Snowdonia Aerospace 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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
Turnover represents net invoiced sales of services, excluding value added tax.

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 - 20% on reducing balance

Land and buildings will not be depreciated and will be considered for revaluation at regular intervals not longer
than three years in duration.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and
slow moving items.

Transition to frs102
These financial statements are the first financial statements of Snowdonia Aerospace LLP prepared in
accordance with Financial Reporting Standard 102 (Section 1a) 'The Financial Reporting Standard applicable in
the UK and Republic of Ireland' (FRS102). The financial statements of Snowdonia Aerospace LLP for the year
ended 31 March 2016 were prepared in accordance with the Financial Reporting Standard for Smaller Entities
April 2008. The transition date to FRS102 (Section 1a) is 1 April 2015.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 2 .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2016 1,154,796 388,380 1,543,176
Additions 141,483 15,125 156,608
At 31 March 2017 1,296,279 403,505 1,699,784
DEPRECIATION
At 1 April 2016 - 39,242 39,242
Charge for year - 33,477 33,477
At 31 March 2017 - 72,719 72,719
NET BOOK VALUE
At 31 March 2017 1,296,279 330,786 1,627,065
At 31 March 2016 1,154,796 349,138 1,503,934

SNOWDONIA AEROSPACE LLP (REGISTERED NUMBER: OC335994)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2017


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade debtors 16,349 40,860
Other debtors 327,612 286,076
343,961 326,936

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade creditors 20,353 266,392
Taxation and social security 3,355 508
Other creditors 1,774,960 1,340,642
1,798,668 1,607,542

7. RELATED PARTY DISCLOSURES

Included within other creditors is a balance of £1,741,965 (2016: £1,276,801) owed to Compass Point Estates
LLP, a partnership in which the designated member, Ocean Park Investments Limited, has a controlling interest.
This loan was provided at a interest rate of 4.5% per annum and repayable on demand.