Accounts Preparation For Limited Liability Partnerships

Our accounts preparation for Limited Liability Partnerships in Medway, Swale and Kent ensures compliance with both statutory and regulatory requirements.

We assist Limited Liability Partnerships by:

• Maintaining and organizing accurate accounting records
• Preparing statutory annual accounts in line with legal and regulatory requirements
• Assisting with approval, signing, and timely filing of accounts at Companies House
• Preparing partnership and individual members’ tax returns for HMRC

Maintaining Accurate Records and Preparing Financial Statements

LLP members, particularly designated members, are responsible for maintaining proper accounting records that give a true and fair view of the financial position of the partnership at any given time.

Our team can assist by organising these records and preparing annual accounts, which include the profit and loss account, the balance sheet signed by a member, and notes to the accounts, and, if required, an auditor’s report.

Approval and Filing Requirements

Once the partnership accounts are prepared, designated members must review and approve them to ensure they are satisfied with their accuracy and completeness. The balance sheet must be signed by a designated member.

Once these accounts are complete, we file them with Companies House within nine months of the accounting reference date, making them publicly available. Additionally, we file a confirmation statement annually to verify and update key LLP details.

Tax Compliance and Reporting

Accountants also prepare the partnership tax return, reporting the LLP’s total income to HMRC. Each member is taxed individually on their share of profits and must file a personal Self-Assessment tax return.

Contact us about your partnership accounts