LLp

Strantona
Strantona Registered Posts: 14 New contributor ๐Ÿธ
edited June 18 in AAT member discussion
Does any one knoe if you type LLP Accounts just the same as Ltd Accounts

Comments

  • peugeot
    peugeot Registered Posts: 611 Epic contributor ๐Ÿ˜
    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
  • Poodle
    Poodle Registered Posts: 695 Epic contributor ๐Ÿ˜
    peugeot wrote: ยป
    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
  • deanshepherd
    deanshepherd Registered Posts: 1,798 Beyond epic contributor ๐Ÿง™โ€โ™‚๏ธ
    Linky for the SORP.

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