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The Small Limited Liability Partnerships (Accounts) Regulations 2008

S.I. 2008/1912 · Made 17 July 2008 · Extends to United Kingdom

Up to date with all changes known to legislation.gov.uk, revised to 31 December 2020.

Limited Liability Partnerships

Made 17th July 2008

Coming into force 1st October 2008

The Secretary of State makes the following Regulations in exercise of the powers conferred by sections 15 and 17 of the Limited Liability Partnerships Act 2000 M1.

In accordance with section 17(4) and (5)(b) of the Limited Liability Partnerships Act 2000, a draft of this instrument was laid before Parliament and approved by a resolution of each House of Parliament.

Annotations to the whole text

Marginal citations

M1

2000 c 12.

Contents

  1. Part 1: INTRODUCTION
  2. 1Citation and interpretation
  3. 2Commencement and application
  4. Part 2: FORM AND CONTENT OF INDIVIDUAL ACCOUNTS
  5. 3Non-IAS individual accounts
  6. 4Information about related undertakings (non-IAS or IAS individual accounts) Repealed
  7. 5Accounts for delivery to registrar of companies (non-IAS individual accounts) Repealed
  8. 5ANon-IAS individual accounts: micro-entities – notes to the accounts
  9. Part 3: FORM AND CONTENT OF GROUP ACCOUNTS
  10. 6Non-IAS group accounts
  11. 7Information about related undertakings (Non-IAS or IAS group accounts)
  12. Part 4: INTERPRETATION
  13. 8General interpretation
  14. Part 5: REVIEW
  15. 9Review
  16. Signature
  17. Schedule 1: NON-IAS INDIVIDUAL ACCOUNTS
  18. Part 1: GENERAL RULES AND FORMATS
  19. GENERAL RULES
  20. 1Paragraph 1
  21. 1AParagraph 1A
  22. 1BParagraph 1B
  23. 1CParagraph 1C
  24. 2Paragraph 2
  25. 2AParagraph 2A
  26. 3Paragraph 3
  27. 4Paragraph 4
  28. 5Paragraph 5
  29. 6Paragraph 6
  30. 7Paragraph 7
  31. 8Paragraph 8
  32. 9Paragraph 9
  33. 9AParagraph 9A
  34. THE REQUIRED FORMATS FOR THE ACCOUNTS OF LLPS OTHER THAN MICRO-ENTITIES
  35. Balance sheet formats
  36. Notes on the balance sheet formats
  37. Profit and loss account formats
  38. Paragraph
  39. Notes on the profit and loss account formats
  40. THE REQUIRED FORMATS FOR THE ACCOUNTS OF MICRO-ENTITIES
  41. Balance Sheet Formats
  42. Notes on the balance sheet formats
  43. Profit and loss account format
  44. Part 2: ACCOUNTING PRINCIPLES AND RULES
  45. ACCOUNTING PRINCIPLES
  46. 10Preliminary
  47. 11Accounting principles
  48. 12Paragraph 12
  49. 13Paragraph 13
  50. 14Paragraph 14
  51. 15Paragraph 15
  52. 15AParagraph 15A
  53. HISTORICAL COST ACCOUNTING RULES
  54. 16Preliminary
  55. Fixed assets
  56. 17General rules
  57. 18Rules for depreciation and diminution in value
  58. 19Paragraph 19
  59. 20Paragraph 20
  60. 21Intangible assets
  61. 22Intangible assets
  62. 23Current assets
  63. 24Paragraph 24
  64. Miscellaneous and supplementary provisions
  65. 25Excess of money owed over value received as an asset item
  66. 26Assets included at a fixed amount
  67. 27Determination of purchase price or production cost
  68. 28Paragraph 28
  69. 29Substitution of original stated amount where price or cost unknown
  70. 29AEquity method in respect of participating interests
  71. ALTERNATIVE ACCOUNTING RULES
  72. 30Preliminary
  73. 31Paragraph 31
  74. 32Alternative accounting rules
  75. 33Application of the depreciation rules
  76. 34Additional information to be provided in case of departure from historical cost accounting rules
  77. 35Revaluation reserve
  78. FAIR VALUE ACCOUNTING
  79. 36Inclusion of financial instruments at fair value
  80. 37Determination of fair value
  81. 38Hedged items
  82. 39Other assets that may be included at fair value
  83. 40Accounting for changes in value
  84. 41The fair value reserve
  85. Part 3: NOTES TO THE ACCOUNTS
  86. 42Preliminary
  87. 43Reserves Repealed
  88. 44Disclosure of accounting policies
  89. Information supplementing the balance sheet
  90. 45Paragraph 45
  91. 46Loans and other debts due to members Repealed
  92. 47Fixed assets
  93. 48Paragraph 48
  94. 49Investments Repealed
  95. 50Information about fair value of assets and liabilities
  96. 51Paragraph 51 Repealed
  97. 52Information where investment property and living animals and plants included at fair value Repealed
  98. 53Information about revalued fixed assets
  99. 54Details of indebtedness
  100. 55Guarantees and other financial commitments
  101. 56Miscellaneous matters Repealed
  102. 57Information supplementing the profit and loss account Repealed
  103. 58Particulars of turnover Repealed
  104. 59Miscellaneous matters
  105. 60Sums denominated in foreign currencies Repealed
  106. 61Dormant LLPs acting as agents Repealed
  107. 62Post balance sheet events
  108. 63Parent undertaking information
  109. 64Related party transactions
  110. Schedule 2: INFORMATION ABOUT RELATED UNDERTAKINGS WHERE LLP NOT PREPARING GROUP ACCOUNTS (NON-IAS OR IAS INDIVIDUAL ACCOUNTS) Repealed
  111. 1Subsidiary undertakings Repealed
  112. 2Holdings in subsidiary undertakings Repealed
  113. 3Financial information about subsidiary undertakings Repealed
  114. 4Significant holdings in undertakings other than subsidiary undertakings Repealed
  115. 5Paragraph 5 Repealed
  116. 6Paragraph 6 Repealed
  117. 7Parent undertaking drawing up accounts for larger group Repealed
  118. 8Identification of ultimate parent Repealed
  119. 9Construction of references to shares held by LLP Repealed
  120. Schedule 3: NON-IAS ABBREVIATED ACCOUNTS FOR DELIVERY TO REGISTRAR OF COMPANIES Repealed
  121. Part 1: THE REQUIRED BALANCE SHEET FORMATS Repealed
  122. 1Paragraph 1 Repealed
  123. Part 2: NOTES TO THE ACCOUNTS Repealed
  124. 2Preliminary Repealed
  125. 3Disclosure of accounting policies Repealed
  126. Information supplementing the balance sheet Repealed
  127. 4Fixed assets Repealed
  128. 5Financial fixed assets Repealed
  129. 6Details of indebtedness Repealed
  130. 7Sums denominated in foreign currencies Repealed
  131. 8Dormant LLPs acting as agents Repealed
  132. Schedule 4: GROUP ACCOUNTS
  133. Part 1: FORM AND CONTENT OF NON-IAS GROUP ACCOUNTS
  134. 1General rules
  135. 2Paragraph 2
  136. 3Paragraph 3
  137. 4Paragraph 4
  138. 5Paragraph 5
  139. 6Elimination of group transactions
  140. 7Acquisition and merger accounting
  141. 8Paragraph 8
  142. 9Paragraph 9
  143. 10Paragraph 10
  144. 11Paragraph 11
  145. 12Paragraph 12
  146. 13Paragraph 13
  147. 14Paragraph 14
  148. 15Paragraph 15
  149. 16Paragraph 16
  150. 16AParagraph 16A
  151. 17Non-controlling interests
  152. 18Joint ventures
  153. 19Associated undertakings
  154. 20Paragraph 20
  155. 20ADeferred tax balances
  156. 20BRelated party transactions
  157. Part 2: INFORMATION ABOUT RELATED UNDERTAKINGS WHERE LLP PREPARING GROUP ACCOUNTS (NON-IAS OR IAS GROUP ACCOUNTS)
  158. 21Introduction and interpretation
  159. 22Subsidiary undertakings
  160. 23Holdings in subsidiary undertakings
  161. 24Financial information about subsidiary undertakings not included in the consolidation
  162. 25Joint ventures
  163. 26Associated undertakings
  164. 27Other significant holdings of parent LLP or group
  165. 28Paragraph 28
  166. 29Paragraph 29
  167. 30Paragraph 30
  168. 31Paragraph 31
  169. 32Paragraph 32
  170. 33Parent undertaking drawing up accounts for larger group
  171. 34Identification of ultimate parent
  172. 35Construction of references to shares held by parent LLP or group
  173. Schedule 5: GENERAL INTERPRETATION
  174. 1Financial instruments
  175. 2Paragraph 2
  176. 3Fixed and current assets
  177. 4Historical cost accounting rules
  178. 5Listed investments
  179. 6Loans
  180. 7Materiality
  181. 8Participating interests
  182. 9Provisions
  183. 10Paragraph 10
  184. 11Purchase price
  185. 12Staff costs
  186. Explanatory note