# The Limited Liability Partnerships, Partnerships and Groups (Accounts and Audit) Regulations 2016, Regulation 39: Amendments to Section C of Part 2 of Schedule 1 (alternative accounting rules: non-IAS individual accounts)


In Section C of Part 2 of Schedule 1 (alternative accounting rules: non-IAS individual accounts)—
(a) in paragraph 32 (alternative accounting rules), omit sub-paragraphs (4) and (5);
(b) in paragraph 34 (additional information to be provided in case of departure from historical cost accounting rules)—
(i) in sub-paragraph (2), for “a note to the accounts” substitute “the note on accounting policies (see paragraph 44 of this Schedule)”; and
(ii) for sub-paragraph (3) substitute—
“(3) In the case of each balance sheet item affected, the comparable amounts determined according to the historical cost accounting rules must be shown in a note to the accounts.”; and
(c) in paragraph 35(2) (revaluation reserve)—
(i) after “revaluation reserve” insert “under “Members’ other interests””; and
(ii) omit “, but need not be shown under that name”.

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Source: https://www.legislation.gov.uk/ukdsi/2016/9780111144787/regulation/39 (the official version)
Page: https://openlegislation.uk/draft-limited-liability-partnerships-partnerships-and-groups-accounts-and-audit-regulations-2016/regulation-39
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.