SCHEDULE 1 NON-IAS INDIVIDUAL ACCOUNTS

PART 1 GENERAL RULES AND FORMATS

SECTION B THE REQUIRED FORMATS FOR THE ACCOUNTS OF LLPS OTHER THAN MICRO-ENTITIES

Notes on the balance sheet formats
(1) Goodwill
(Formats 1 and 2, item A.I.1.)
Amounts representing goodwill must only be included to the extent that the goodwill was acquired for valuable consideration.
(2) Other intangible assets
(Formats 1 and 2, item A.I.2.)
Amounts in respect of concessions, patents, licences, trade marks and similar rights and assets must only be included in an LLP's balance sheet under this item if either—
(a) the assets were acquired for valuable consideration and are not required to be shown under goodwill, or
(b) the assets in question were created by the LLP itself.
(3) Debtors
(Formats 1 and 2, items B.II.1 to 3.)
The amount falling due after more than one year must be shown separately for each item included under debtors and, in the case of format 2, the aggregate amount falling due after more than one year must also be shown.
Words in Sch. 1 Pt. 1 Section B substituted (with effect in accordance with reg. 2(2)-(5) of the amending S.I.) by The Limited Liability Partnerships, Partnerships and Groups (Accounts and Audit) Regulations 2016 (S.I. 2016/575), regs. 2(1), 35(c)(i)
(4) Prepayments and accrued income
(Formats 1 and 2, item C.)
This item may alternatively be included under item B.II.3 in Format 1 or 2.
(5) Other creditors
(Format 1, items D.4, G.4 and I and Format 2, items D.4 and E.)
There must be shown separately—
(a) the amount of any convertible loans, and
(b) the amount for creditors in respect of taxation and social security.
Payments received on account of orders must be included in so far as they are not shown as deductions from stocks.
In Format 1, accruals and deferred income may be shown under item I or included under item D.4 or G.4, or both (as the case may require). In Format 2, accruals and deferred income may be shown under item E or within item D.4 under Liabilities.
(6) Net current assets (liabilities)
(Format 1, item E.)
In determining the amount to be shown under this item any prepayments and accrued income must be taken into account wherever shown.
(7) Loans and other debts due to members
(Format 1, item J and Format 2, Liabilities item A)
The following amounts must be shown separately under this item—
(a) the aggregate amount of money advanced to the LLP by the members by way of loan,
(b) the aggregate amount of money owed to members by the LLP in respect of profits,
(c) any other amounts.
(8) Creditors
(Format 2, Liabilities items D.1 to 4.)
Amounts falling due within one year and after one year must be shown separately for each of these items and for the aggregate of all of these items...
Words in Sch. 1 Pt. 1 Section B omitted (with effect in accordance with reg. 2(2)-(5) of the amending S.I.) by virtue of The Limited Liability Partnerships, Partnerships and Groups (Accounts and Audit) Regulations 2016 (S.I. 2016/575), regs. 2(1), 35(c)(ii)