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Strantona
Strantona Registered Posts: 14 New contributor 🐸
in General accounting discussion
Does any one knoe if you type LLP Accounts just the same as Ltd Accounts

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  • peugeot
    peugeot Registered Posts: 624 Epic contributor 🐘
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    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: 711 Epic contributor 🐘
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    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
  • deanshepherd
    deanshepherd Registered Posts: 1,809 Beyond epic contributor 🧙‍♂️
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    Linky for the SORP.

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