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simple Small LLP accounts question...

kachalookachaloo Just JoinedRegistered Posts: 4
hi there

I have never prepared LLP accounts before.

Anybody please share their experience and comment on my proposed P&L and BS..

thanks

LLP First year accounts 2 partners 50/50

(Not Exact figure)
P&L
fee turnover
£9000
less COS+admin etc
6000
Net Profit
3000
(automatic division of all profit as remuneration)
members remuneration charged as expense ---3000
divisible profit among member
NIL


BS
total asset
9500


Represented by:
Equity:
Capital (cash introduced 50/50)
11000

Loans & debt within one yerar:
Drawings
(4500)
remuneration charged as expense
3000
total member interest
9500
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