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The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008

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Requirements in connection with publication of accounts and auditor’s report

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16.  Sections 433 to 436 apply to LLPs, modified so that they read as follows—

Name of signatory to be stated in published copies of accounts

433.  (1)  Every copy of the LLP’s balance sheet that is published by or on behalf of the LLP must state the name of the person who signed it on behalf of the members of the LLP.

(2) If a copy is published without the required statement of the signatory’s name, an offence is committed by—

(a)the LLP, and

(b)every member of the LLP who is in default.

(3) A person guilty of an offence under this section is liable on summary conviction to a fine not exceeding level 3 on the standard scale.

Requirements in connection with publication of statutory accounts

434.  (1)  If an LLP publishes any of its statutory accounts, they must be accompanied by the auditor’s report on those accounts (unless the LLP is exempt from audit and the members have taken advantage of that exemption).

(2) An LLP that prepares statutory group accounts for a financial year must not publish its statutory individual accounts for that year without also publishing with them its statutory group accounts.

(3) An LLP’s “statutory accounts” are its accounts for a financial year as required to be delivered to the registrar under section 441.

(4) If an LLP contravenes any provision of this section, an offence is committed by—

(a)the LLP, and

(b)every member of the LLP who is in default.

(5) A person guilty of an offence under this section is liable on summary conviction to a fine not exceeding level 3 on the standard scale.

Requirements in connection with publication of non-statutory accounts

435.  (1)  If an LLP publishes non-statutory accounts, it must publish with them a statement indicating—

(a)that they are not the LLP’s statutory accounts,

(b)whether statutory accounts dealing with any financial year with which the non-statutory accounts purport to deal have been delivered to the registrar, and

(c)whether an auditor’s report has been made on the LLP’s statutory accounts for any such financial year, and if so whether the report—

(i)was qualified or unqualified, or included a reference to any matters to which the auditor drew attention by way of emphasis without qualifying the report, or

(ii)contained a statement under section 498(2) (accounting records or returns inadequate or accounts not agreeing with records and returns), or section 498(3) (failure to obtain necessary information and explanations).

(2) The LLP must not publish with non-statutory accounts the auditor’s report on the LLP’s statutory accounts.

(3) References in this section to the publication by an LLP of “non-statutory accounts” are to the publication of—

(a)any balance sheet or profit and loss account relating to, or purporting to deal with, a financial year of the LLP, or

(b)an account in any form purporting to be a balance sheet or profit and loss account for a group headed by the LLP relating to, or purporting to deal with, a financial year of the LLP,

otherwise than as part of the LLP’s statutory accounts.

(4) In subsection (3)(b) “a group headed by the LLP” means a group consisting of the LLP and any other undertaking (regardless of whether it is a subsidiary undertaking of the LLP) other than a parent undertaking of the LLP.

(5) If an LLP contravenes any provision of this section, an offence is committed by—

(a)the LLP, and

(b)every member of the LLP who is in default.

(6) A person guilty of an offence under this section is liable on summary conviction to a fine not exceeding level 3 on the standard scale.

Meaning of “publication” in relation to accounts and auditor’s report

436.  (1)  This section has effect for the purposes of—

  • section 433 (name of signatory to be stated in published copies of accounts),

  • section 434 (requirements in connection with publication of statutory accounts), and

  • section 435 (requirements in connection with publication of non-statutory accounts).

(2) For the purposes of those sections an LLP is regarded as publishing a document if it publishes, issues or circulates it or otherwise makes it available for public inspection in a manner calculated to invite members of the public generally, or any class of members of the public, to read it.

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