LLp

StrantonaStrantona New MemberRegistered Posts: 14
Does any one knoe if you type LLP Accounts just the same as Ltd Accounts

Comments

  • peugeotpeugeot Experienced Mentor Registered Posts: 624
    Hi,

    LLP accounts are similar but not the same as Ltd Co accounts. An LLP is still a partnership but has to publish accounts in the same manner as a Ltd Co due to the partnership's "limited liability".

    Because the LLP is a partnership it does not have shares, it has members interests. It does not have shareholders, it has members and designated members. LLP's also have their own SoRP (Statement of Recommended Practice).

    I would advise you to get hold of a copy of some LLP accounts or an LLP disclosure checklist before completing these financial statements.

    Regards
    Steve
  • PoodlePoodle Experienced Mentor Registered Posts: 711
    peugeot wrote: »
    Hi,
    I would advise you to get hold of a copy of some LLP accounts or an LLP disclosure checklist before completing these financial statements.

    Hi Steve,

    I recently declined a perspective new client that was an LLP due to my lack of knowledge. Please could you let me know where Imight be able to get this information from.

    Thanks

    Poodle
  • deanshepherddeanshepherd Font Of All Knowledge Registered Posts: 1,809
    Linky for the SORP.
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