LLP Accounts Query
A question regarding LLP Accounts. A set of LLP accounts has me puzzled. The firm is a large practice
with a 5 million plus turnover each year yet on each set of annual accounts, the balance sheet only
shows net assets and members equity capital of £12 (12 Partners at £1 each i expect)
Total Assets 12
Members Capital 12
Total Members Interests 12
My question is where does the money go?, how can there be no end of year debtors/creditors?