Accounting Standards and Guidance

Statements of Recommended Practice (SORPs)

Accounting by limited liability partnerships (LLPs) 2017

APPENDIX 1: EXAMPLES SHOWING THE PRESENTATION OF MEMBERS' INTERESTS

EXHIBIT G – LLP Statement of Comprehensive Income (single statement (Profit and loss account Format 2)

LLP WITH NO AUTOMATIC DIVISION OF ANY PROFIT

20X5

20X4

£'000

£'000

Turnover

55,500

49,500

Other operating income

3,500

2,000

 

59,000

51,500

Other external charges

(8,500)

(7,500)

Staff costs

(21,500)

(18,500)

Depreciation

(2,000)

(2,000)

Other operating expenses

(11,000)

(9,000)

Operating profit

16,000

14,500

Interest receivable and similar income

1,000

1,000

Interest payable and similar charges

(500)

(750)

Profit for the financial year before members' remuneration and profit shares available for discretionary division among members

16,500

14,750

Other comprehensive income:

 

 

Revaluation of freehold property

2,500

1,000

Actuarial loss on defined benefit pension scheme

(3,000)

(1,500)

Total comprehensive income

16,000

14,250

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