# The Limited Liability Partnerships, Partnerships and Groups (Accounts and Audit) Regulations 2016, Regulation 51: Amendments to Section B of Part 1 of Schedule 1 (required formats for accounts: non-IAS individual accounts)


In Section B of Part 1 of Schedule 1 (required formats for accounts: non-IAS individual accounts)—
(a) in balance sheet Format 1, in item K III, after “Other reserves” insert “, including the fair value reserve”;
(b) in balance sheet Format 2—
(i) for the heading “LIABILITIES” substitute “CAPITAL, RESERVES AND LIABILITIES”; and
(ii) in item B III, after “Other reserves” insert “, including the fair value reserve”;
(c) in profit and loss account Format 1—
(i) in item 12, for “charges” substitute “expenses”;
(ii) in items 13 and 14, omit “on ordinary activities”; and
(iii) omit items 15 to 18;
(d) in profit and loss account Format 2—
(i) in items 5(b), 8 and 14, for “charges” substitute “expenses”;
(ii) for item 7(b) substitute—
“(b) Amounts written off current assets, to the extent that they exceed write-offs which are normal in the undertaking concerned”;
(iii) in items 15 and 16, omit “on ordinary activities”; and
(iv) omit items 17 to 20; and
(e) in notes on the profit and loss account formats, in the title to note (14), for “charges” substitute “expenses”.

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Source: https://www.legislation.gov.uk/ukdsi/2016/9780111144787/regulation/51 (the official version)
Page: https://openlegislation.uk/draft-limited-liability-partnerships-partnerships-and-groups-accounts-and-audit-regulations-2016/regulation-51
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.