WPI Aviation LLP - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: OC426083 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2022

for

WPI Aviation LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

W P Igoe

Mrs A I Igoe

REGISTERED OFFICE:

WPI House

King Street Trading Estate

Middlewich

Cheshire

CW10 9LF

REGISTERED NUMBER:

OC426083 (England and Wales)

ACCOUNTANTS:

Pareto Tax & Wealth LLP

Level 7, Tower 12,

18-22 Bridge Street,

Spinningfields,

Manchester

M3 3BZ

FIXED ASSETS

Tangible assets

4

2,914,143

3,035,566

CURRENT ASSETS

Debtors

5

28,561

5,526

Cash at bank

35,342

10,063

63,903

15,589

CREDITORS

Amounts falling due within one year

6

103,496

9,780

NET CURRENT (LIABILITIES)/ASSETS

(39,593

)

5,809

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

2,874,550

3,041,375

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

2,874,550

3,041,375

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

2,874,550

3,041,375

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 2022.

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 13 December 2022 and were signed by:

Mrs A I Igoe - Designated member

1.	STATUTORY INFORMATION

WPI Aviation 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

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Helicopter

-

4% Reducing balance

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2021 - NIL).

4.	TANGIBLE FIXED ASSETS

Helicopter

£

COST

At 1 April 2021

and 31 March 2022

3,293,800

DEPRECIATION

At 1 April 2021

258,234

Charge for year

121,423

At 31 March 2022

379,657

NET BOOK VALUE

At 31 March 2022

2,914,143

At 31 March 2021

3,035,566

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

4,368

-

VAT

24,193

5,526

28,561

5,526

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade creditors

103,496

9,780

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Members only take drawings where cash is available and other creditors are not adversely affected.

8.	ULTIMATE CONTROLLING PARTY

The LLP is controlled by the designated members.