PART 3 Amendments to the Small Limited Liability Partnerships (Accounts) Regulations 2008

36 Insertion of Section C into Part 1 of Schedule 1 (required formats for accounts: non-IAS individual accounts of LLPs which are micro-entities)
After Section B of Part 1 of Schedule 1 (required formats for accounts: non-IAS individual accounts of LLPs which are micro-entities) insert—

“SECTION C THE REQUIRED FORMATS FOR THE ACCOUNTS OF MICRO-ENTITIES

Balance Sheet Formats Format 1
A Fixed assets
B Current assets
C Prepayments and accrued income
D Creditors: amounts falling due within one year
E Net current assets (liabilities)
F Total assets less current liabilities
G Creditors: amounts falling due after more than one year
H Provisions for liabilities
I Accruals and deferred income
J Loans and other debts due to members
K Members’ other interests

Format 2
ASSETS
A Fixed assets
B Current Assets
C Prepayments and accrued income
CAPITAL, RESERVES AND LIABILITIES
A Loans and other debts due to members
B Members’ other interests
C Provisions for liabilities
D Creditors (1)
E Accruals and deferred income
Notes on the balance sheet formats
(1) Creditors
(Format 2, item D under Capital, Reserves and Liabilities)
Aggregate amounts falling due within one year and after one year must be shown separately.
Profit and loss account format A Turnover
B Other income
C Cost of raw materials and consumables
D Staff costs
E Depreciation and other amounts written off assets
F Other charges
G Tax
H Profit or loss for the financial year before members’ remuneration and profit shares”

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