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LLP Accounts

LLP Accounts

Good afternoon,

I would appreciate your help re: LLP Accounts.

LLP year end is 31.12.2009, It solely exists for management of freehold building from

which rental income is derived and distributed to members, However just after the year end

on 02 April 2010 the Building was sold, and members now intend to dissolve the LLP.

Do I need to disclose Going concern in the current accounts ? (Bearing in mind that next year

accounts will be the last accounts). if yes, just it be narrative Going Concern paragh or

detailed information.( what to write in pls advise)

Secondly, as building was sold after the year end, my understanding is, I just need to

 disclose in the post-balance sheet event, the date and amount it was sold for ?

Thanks in advance for your thoughts.


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20th Aug 2010 09:21

Without checking the FRSSE / FRS 21, my answers are.....

1. If an audit, an emphasis of matter paragraph. Remember that the going concern presumption implicit in the accounts is for 12 months from date of approval of accounts.

2. Also disclose in accounting policies, that the members intend to wind up the company.

3. Note on post balance sheet events - about sale of property. I think what you state is Ok, but someone can confirm, or check FRSSE.

4. Probably need to disclose in directors' report, though I am not sure about this.

Hope that helps a little.


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