(This note is not part of the Regulations)

These Regulations specify the form and content of the accounts of limited liability partnerships (LLPs) subject to the small LLPs regime under Part 15 of the Companies Act 2006 (c.46) ("the 2006 Act") as applied to LLPs with modifications by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 (S.I. 2008/1911). They do so by applying to LLPs, with modifications, provisions of the Small Companies and Groups (Accounts and Directors' Report) Regulations 2008 (S.I. 2008/409).

Section 381 of the 2006 Act as applied to LLPs defines what is meant by "small LLPs regime". The accounts of large and medium-sized LLPs are dealt with separately in the Large and Mediumsized Limited Liability Partnerships (Accounts) Regulations 2008 (S.I. 2008/1913).

The Regulations replace provisions previously contained in the Schedules to Part 7 of the Companies Act 1985 (c.6) ("the 1985 Act") and in the Schedules to Part 8 of the Companies (Northern Ireland) Order 1986 (S.I. 1986/1032 (N.I. 6)) ("the 1986 Order") as applied to LLPs with modifications by the Limited Liability Partnerships Regulations 2001 (S.I. 2001/1090) and the Limited Liability Partnerships Regulations (Northern Ireland) 2004 (SR (NI) 2004/307). The Regulations extend to the whole of the United Kingdom, reflecting the extent of the 2006 Act.

The Regulations come into force on 1st October 2008, and apply to financial years beginning on or after that date (regulation 2). The corresponding provisions of the 1985 Act or the 1986 Order as applied to LLPs with modifications continue to apply to accounts for financial years beginning before that date.