Regulation 3 Non-IAS individual accounts

Regulation 3 of the Small Companies Accounts Regulations applies to LLPs, modified so that it reads as follows—

“Non-IAS individual accounts

3.

(1)

Non-IAS individual accounts under section 396 of the 2006 Act (non-IAS individual accounts) must comply with the provisions of Schedule 1 to the Small Limited Liability Partnerships (Accounts) Regulations 2008^f1 as to the form and content of the balance sheet and profit and loss account, and additional information to be provided by way of notes to the accounts.

(2)

The profit and loss account of an LLP that falls within section 408 of the 2006 Act (individual profit and loss account where group accounts prepared)^f2 need not contain the information specified in paragraphs 57 to 59 of Schedule 1 to the Small Limited Liability Partnerships (Accounts) Regulations 2008 (information supplementing the profit and loss account).

(3)

Accounts are treated as having complied with any provision of Schedule 1 to the Small Limited Liability Partnerships (Accounts) Regulations 2008 if they comply instead with the corresponding provision of Schedule 1 to the Large and Medium-sized Limited Liability Partnerships (Accounts) Regulations 2008^f3.”

The provisions of Schedule 1 to the Small Companies Accounts Regulations apply to LLPs, modified so that they are the provisions set out in Schedule 1 to these Regulations.