Regulation 4 of the Large and Medium-sized Companies Accounts Regulations applies to LLPs, modified so that it reads as follows -

"4. Medium-sized LLPs: exemptions for non-IAS individual accounts

(1) This regulation applies to an LLP -

(a) which qualifies as medium-sized in relation to a financial year under section 465 of the 2006 Act [Section 465 is amended by regulation 4(1) of S.I. 2008/393.], and

(b) the members of which are preparing non-IAS individual accounts under section 396 of that Act for that year.

(2A) The individual accounts for the year need not comply with paragraph 45 (disclosure with respect to compliance with accounting standards) of Schedule 1 to these Regulations.

(2B) Paragraph 70 (related party transactions) applies with the modification that only particulars of transactions which have not been concluded under normal market conditions with the following must be disclosed -

(a) members of the LLP that are related parties; and

(b) undertakings in which the LLP itself has a participating interest.