REGISTERED NUMBER: OC345402 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

FOR

THE AARONITE PARTNERSHIP LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

M J Grant

R I Lynam

REGISTERED OFFICE:

107-111 Fleet Street

London

EC4A 2AB

REGISTERED NUMBER:

OC345402 (England and Wales)

ACCOUNTANTS:

Crowe Clark Whitehill LLP

4 Mount Ephraim Road

Tunbridge Wells

Kent

TN1 1EE

FIXED ASSETS

Tangible assets

3

1,963

3,824

Investments

4

2

2

1,965

3,826

CURRENT ASSETS

Stocks

-

645

Debtors

5

12,224

31,166

Cash at bank

47,443

148,031

59,667

179,842

CREDITORS

Amounts falling due within one year

6

70,847

100,214

NET CURRENT (LIABILITIES)/ASSETS

(11,180

)

79,628

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET (LIABILITIES)/ASSETS ATTRIBUTABLE TO MEMBERS

(9,215

)

83,454

LOANS AND OTHER DEBTS DUE TO MEMBERS

-

-

MEMBERS' OTHER INTERESTS

Capital accounts

84,864

40,000

Other reserves

(94,079

)

43,454

(9,215

)

83,454

TOTAL MEMBERS' INTERESTS

Members' other interests

(9,215

)

83,454

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.

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 20 December 2017 and were signed by:

R I Lynam - Designated member

1.	STATUTORY INFORMATION

The Aaronite Partnership 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.

Office equipment - 25% Straight line

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

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

slow moving items.

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.

Taxation

Income tax payments on the LLP profit are solely the personal liability of the individual members and

consequently are not dealt with in these financial statements.

Investments

Investments held as fixed assets are shown at cost less provision for impairment.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at the transaction price.

Cash and Equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice

of not more then 24 hours. Cash equivalents are highly liquid investments that mature in no more than three

months from the date of acquisition and that are readily convertible to known accounts of cash with significant

risk of change in value.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of the financial

assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third

parties, loans to related parties and investments in non-puttable ordinary shares.

Financial reporting standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial

statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic

of Ireland":

- the requirements of Section 7 Statement of Cash Flows;

- the requirements of Section 3 Financial Statement Presentation paragraph 3.17 (d);

- the requirements of Section 11 Financial Instruments paragraphs 11.39 to 11.48A;

- the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.29;

- the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;

- the requirements of Section 33 Related Party Disclosures paragraph 33.7.

Going concern

The financial statements have been prepared on a going concern basis even though at the balance sheet date

the partnership had net liabilities amounting to £9,215 (2016: net assets £83,454)

The partnership's ability to continue as a going concern is dependent on the willingness of the members to

provide financing to the partnership. The members have expressed their willingness to provide financial support

for the next 12 months as from the date of approval of the financial statements in order for the partnership to

meet its current liabilities, therefore the members continue to adopt the going concern basis of accounting.

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2016

and 31 March 2017

6,062

DEPRECIATION

At 1 April 2016

2,238

Charge for year

1,861

At 31 March 2017

4,099

NET BOOK VALUE

At 31 March 2017

1,963

At 31 March 2016

3,824

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2016

and 31 March 2017

2

NET BOOK VALUE

At 31 March 2017

2

At 31 March 2016

2

The LLP's investments at the Balance Sheet date in the share capital of companies include the following:

Aaronite Trustee Company Ltd

Registered office:

Nature of business:

%

Class of shares:

holding

Ordinary

100.00

Aaronite Partners Ltd

Registered office:

Nature of business:

%

Class of shares:

holding

Ordinary

100.00

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

4,371

24,084

Other debtors

7,853

7,082

12,224

31,166

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

1,500

2,511

Taxation and social security

-

251

Other creditors

69,347

97,452

70,847

100,214

7.	FIRST YEAR ADOPTION

This is the first year in which the financial statements have been prepared under FRS102 (1a). The transition

from preparing the financial statements in accordance with FRSSE (2015) to FRS102 (1a) has had no material

impact on either the financial position or the financial performance as previously reported by the partnership.