If your also under 141 does that allow you to train CPL's with 150 total hours?
That's exactly what Part 141 was originally intended for. i.e. If you wanted to do pilot training to a syllabus that was different to Part 61, (e.g. less hours than part 61) you put together a training syllabus, (theory and practical), and demonstrate that you could meet the legislated standards with your course you could then go and train to your syllabus.
As far as I know Massey was the only place to do this.
CAA have hijacked the Part 141 system to created paper work and generate more auditing for them and more cost to the industry, all the while still using the Part 61 syllabus. All in the interest of improving flight training standards you understand.
Operation under Part 141 is basically operation to ISO 9000 principles. i.e. manuals and checklists. The ISO 9000 systems really only guarantee one thing, a consistent standard. A consistently bad product, a consistently good product or a consistenly average product. It will not necessarily improve standards.