Companies Act 2006

Accounts changes (Part 15) for LLPs with accounting periods starting on or after 1st October 2008.

Statements to be included on accounts prepared in accordance with the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008).

Small LLPs that prepare abbreviated accounts

You will need a special auditor's report which must state that in the auditor's opinion:

• the LLP is entitled to deliver abbreviated accounts in accordance with section 444(3) of the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit)(Application of Companies Act 2006) Regulations 2008); and
• that they have been properly prepared in accordance with regulation 5 of the Small Limited Liability Partnerships (Accounts) Regulations 2008. If the LLP is exempt from audit and the members have taken advantage of that exemption this report is not required

Audit exempt small LLPs

If a small LLP qualifies for audit exemption, it may submit unaudited accounts to Companies House in the form of an abbreviated balance sheet and notes or if it chooses, full accounts. In either case, the balance sheet must contain the following statements above the designated member's signature:

'For the year ending ……(dd/mm/yyyy) the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit)(Application of Companies Act 2006) Regulations 2008) relating to small LLPs.

The members acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.'

Dormant audit exempt companies

The following statements must appear above the designated member's signature:

'For the year ending ……(dd/mm/yyyy) the LLP was entitled to exemption from audit under section 480of the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit)(Application of Companies Act 2006) Regulations 2008) relating to dormant LLPs.

The members acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.'

An LLP that qualifies as small should also include the following statement on the balance sheet:

'These accounts have been prepared in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime'.

Medium-sized companies

Abbreviated accounts of a medium-sized LLP must include:

• the abbreviated profit and loss account (this must be full if preparing IAS accounts);
• the full balance sheet, signed by a designated member; and
• notes to the accounts.

And be accompanied by a special auditor's report.

The special auditor's report should state that in the auditor's opinion the LLP is entitled to deliver abbreviated accounts in accordance with section 445(3) of the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit)(Application of Companies Act 2006) Regulations 2008) and that they are properly prepared in accordance with regulation 4 of The Large and Medium-sized Limited Liability Partnerships (Accounts) Regulations 2008).

The balance sheet must contain a statement, above the designated member's signature, that the accounts have been prepared in accordance with the special provisions of section 445(3) Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit)(Application of Companies Act 2006) Regulations 2008) in regard to medium-sized LLPs.

Accounts that include an Auditor's report or Special Auditor's report

If the LLP considers that there is a risk that the auditor or any other person would be at risk of serious violence or intimidation if the auditor‘s name (or the name of the "senior statutory auditor" who signed the report on the audit firm's behalf) appeared on filed or published copies of the report, it may determine to omit the name from those copies.

Do not send a copy of the determination to Companies House, but you should send notice of it to the following addres:

The Secretary of State
PO Box 4082
Cardiff
CF14 3WE

The notice must state:

• the name and registered number of the LLP;
• the financial year of the LLP to which the report relates; and
• the name of the auditor and (where the auditor is a firm) the name of the person who signed the report as senior statutory auditor.

The auditor's report attached to the accounts would need to contain the following statement:

"The LLP has determined that the auditor's name should not be stated in accordance with section 506 of the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit)(Application of Companies Act 2006) Regulations 2008)."