Intangible assets
- Disclose development cost amortisation and capitalisation reasons Director or Officer
UK Statutory Instrument
2008
United Kingdom
The Small Limited Liability Partnerships (Accounts) Regulations 2008
At a glance
What's here
9 compliance obligations
Who this Act binds
Business-side actors with duties under this Act, ranked by how often they appear.
- Director or Officer 7
- Employer 1
- Any Person 1
Other Acts binding the same actors
For each actor bound by this Act, the other UK Acts that bind them most often. Useful for understanding the full compliance landscape facing each role.
Directors and Officers also bound by 425 other Acts (top 5 shown)
- Insolvency (England and Wales) Rules 2016 2016 161 duties
- Companies Act 2006 2006 108 duties
- Insolvency Act 1986 1986 72 duties
- The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 2008 55 duties
- The Housing Administration (England and Wales) Rules 2018 2018 26 duties
Employers also bound by 694 other Acts (top 5 shown)
- The Income Tax (Pay As You Earn) Regulations 2003 2003 236 duties
- Provision and Use of Work Equipment Regulations 1998 1998 120 duties
- TULRCA 1992 1992 72 duties
- Employment Rights (Northern Ireland) Order 1996 (current NI employment law) 1996 52 duties
- Income Tax (Earnings and Pensions) Act 2003 2003 50 duties
Any Person also bound by 2337 other Acts (top 5 shown)
- Human Medicines Regulations 2012 2012 169 duties
- Merchant Shipping Act 1995 1995 144 duties
- Insolvency (England and Wales) Rules 2016 2016 101 duties
- Road Traffic Act 1988 1988 95 duties
- Air Navigation Order 2016 2016 95 duties
What this Act requires
Sections that create concrete duties on businesses or carry penalties. Procedural and definitional sections are folded into the “Browse other sections” expander at the bottom of each group. Click any section title to read the source text on legislation.gov.uk.
Schedules
(1) Intangible assets must be written off over the useful...
- Write off intangible assets over their useful economic life Director or Officer
Application of the depreciation rules
- Apply depreciation rules correctly when using alternative accounting valuations Any Person
Disclosure of accounting policies
- Disclose accounting policies in annual accounts Director or Officer
Details of indebtedness
- Disclose details of long-term and secured debt in balance sheet notes Director or Officer
Related party transactions
- Disclose material related party transactions in accounts Director or Officer
(1) Where an LLP adopts the merger method of accounting,...
- Use merger accounting rules when combining with another business Employer
Any differences of accounting rules as between a parent LLP's...
- Disclose differences between parent LLP's individual and group accounts Director or Officer
Browse 131 other Schedules — structural / supplementary
(1) Subject to the following provisions of this Schedule—
Preliminary
Accounting principles
Accounting policies and measurement bases must be applied consistently within...
The amount of any item must be determined on a...
All income and charges relating to the financial year to...
In determining the aggregate amount of any item, the amount...
The opening balance sheet for each financial year must correspond...
Preliminary
General rules
Rules for depreciation and diminution in value
(1) Where a fixed asset investment of a description falling...
(1) Where appropriate to the circumstances of an LLP ’s...
(1) The members of the LLP may adapt one of...
So far as is practicable, the following provisions of this...
(1) Where in accordance with paragraph 1(1) an LLP's balance...
(1) Where the reasons for which any provision was made...
Current assets
(1) If the net realisable value of any current asset...
Excess of money owed over value received as an asset item
Assets included at a fixed amount
Determination of purchase price or production cost
(1) The purchase price or production cost of—
Substitution of original stated amount where price or cost unknown
Equity method in respect of participating interests
Where in accordance with paragraph 1(1A) an LLP ’s balance...
(1) Any item required to be shown in an LLP's...
Preliminary
Subject to paragraphs 33 to 35, the amounts to be...
Alternative accounting rules
Additional information to be provided in case of departure from historical cost accounting rules
Revaluation reserve
Inclusion of financial instruments at fair value
Determination of fair value
Hedged items
Other assets that may be included at fair value
(1) Where the special nature of the LLP's business requires...
Accounting for changes in value
The fair value reserve
Preliminary
Reserves
Paragraphs 47 to 55 require information which either supplements the...
Loans and other debts due to members
Fixed assets
Where any fixed assets of the LLP (other than listed...
Investments
(1) Subject to sub-paragraph (2), the members must not include...
Information about fair value of assets and liabilities
(1) This paragraph applies if— (a) the LLP has financial...
Information where investment property and living animals and plants included at fair value
Information about revalued fixed assets
Guarantees and other financial commitments
Miscellaneous matters
Information supplementing the profit and loss account
Particulars of turnover
Miscellaneous matters
Every profit and loss account other than one prepared by...
Sums denominated in foreign currencies
Dormant LLPs acting as agents
Post balance sheet events
Parent undertaking information
(1) For every item shown in the balance sheet or...
Amounts in respect of items representing assets or income may...
The members of the LLP must, in determining how amounts...
Where an asset or liability relates to more than one...
Subsidiary undertakings
Holdings in subsidiary undertakings
Financial information about subsidiary undertakings
Significant holdings in undertakings other than subsidiary undertakings
(1) The name of the undertaking must be stated.
(1) There must also be stated— (a) the aggregate amount...
Parent undertaking drawing up accounts for larger group
Identification of ultimate parent
Construction of references to shares held by LLP
(1) An LLP may deliver to the registrar a copy...
Preliminary
Disclosure of accounting policies
Fixed assets
Financial fixed assets
Details of indebtedness
Sums denominated in foreign currencies
Dormant LLPs acting as agents
General rules
The conditions for accounting for an acquisition as a merger...
(1) Where a group is acquired, paragraphs 9 to 11...
(1) The following information with respect to acquisitions taking place...
(1) There must also be stated in a note to...
Where during the financial year there has been a disposal...
The information required by paragraph 13, 14 or 15 need...
Where an acquisition has taken place in the financial year...
Non-controlling interests
Joint ventures
Associated undertakings
(1) The consolidated balance sheet and profit and loss account...
(1) The interest of an undertaking in an associated undertaking,...
Deferred tax balances
Related party transactions
Introduction and interpretation
Subsidiary undertakings
Holdings in subsidiary undertakings
Financial information about subsidiary undertakings not included in the consolidation
Joint ventures
Associated undertakings
Other significant holdings of parent LLP or group
(1) The name of the undertaking must be stated.
(1) There must also be stated— (a) the aggregate amount...
(1) Where assets and liabilities to be included in the...
(1) The information required by paragraphs 31 and 32 must...
(1) The name of the undertaking must be stated.
(1) There must also be stated— (a) the aggregate amount...
Parent undertaking drawing up accounts for larger group
Identification of ultimate parent
Construction of references to shares held by parent LLP or group
Amounts that in the particular context of any provision of...
Elimination of group transactions
Acquisition and merger accounting
An acquisition must be accounted for by the acquisition method...
(1) The acquisition method of accounting is as follows.
Financial instruments
References to provisions for liabilities are to any amount retained...
Purchase price
Staff costs
(1) The expressions listed in sub-paragraph (2) have the same...
Fixed and current assets
Historical cost accounting rules
Listed investments
Loans
Materiality
Participating interests
Provisions
Format 1 (see note (12) below) 1. Turnover 2. Cost...
sch. 1
- Prepare accounts using prescribed format Director or Officer
Browse 12 other sections — procedural / definitional / commencement
Citation and interpretation
Commencement and application
Non-IAS individual accounts
Information about related undertakings (non-IAS or IAS individual accounts)
Accounts for delivery to registrar of companies (non-IAS individual accounts)
Non-IAS individual accounts: micro-entities – notes to the accounts
Non-IAS group accounts
Information about related undertakings (Non-IAS or IAS group accounts)
General interpretation
Review
Format 1
Format 2
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