Paragraph 2

(1)

Where in accordance with F1paragraph 1(1) an LLP's balance sheet or profit and loss account for any financial year has been prepared by reference to one of the formats in Section B, the members of the LLP must use the same format in preparing non-IAS individual accounts for subsequent financial years, unless in their opinion there are special reasons for a change.

(2)

Particulars of any such change must be given in a note to the accounts in which the new format is first used, and the reasons for the change must be explained.

Annotations

Textual amendments

F1: Words in Sch. 1 Pt. 1 Section A para. 2 substituted (with effect in accordance with reg. 2(2)-(5) of the amending S.I.) by The Limited Liability Partnerships, Partnerships and Groups (Accounts and Audit) Regulations 2016 (S.I. 2016/575), regs. 2(1), 34(c)