# The Small Limited Liability Partnerships (Accounts) Regulations 2008, Paragraph 21: Development costs


(1) Notwithstanding that an item in respect of “development costs” is included under “fixed assets” in the balance sheet formats set out in Part 1 of this Schedule, an amount may only be included in an LLP’s balance sheet in respect of development costs in special circumstances.
(2) If any amount is included in an LLP’s balance sheet in respect of development costs the following information must be given in a note to the accounts—
(a) the period over which the amount of those costs originally capitalised is being or is to be written off, and
(b) the reasons for capitalising the development costs in question.

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Source: https://www.legislation.gov.uk/ukdsi/2008/9780110818344/schedule/1/paragraph/21 (the official version)
Page: https://openlegislation.uk/draft-small-limited-liability-partnerships-accounts-regulations-2008/schedule-1/paragraph-21
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.