What accounting standards can I apply to Limited Liability Partnerships (LLPs)?

Article ID

ias-12344

Article Name

Created Date

19th October 2016

Product

IRIS Accounts Production

Problem

Under the new UK GAAP, what are the important changes in Accounts Production for Limited Liability Partnerships (LLPs)?

Resolution

It is possible to generate accounts for LLPs applying FRS 102, FRS 102 Section 1A and FRS 105. These standards are permitted following the release of the Limited Liability Partnerships, Partnerships and Groups (Accounts and Audit) Regulations 2016 For information about the direct changes to Accounts Production we have provided a list to enable you to create LLP accounts ready for submission to Companies House here: LLP Legislation. If you want to know how to submit an LLP to Companies House please refer to KB – 12235

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