• 20. 20. Publication of Accounts and Auditor's Report

    Sections 405 and 407 to 412 apply to LLPs, modified so that they read as follows —

    • 405. Duty to circulate copies of annual accounts and auditor's report

      (1) Every LLP required to prepare annual accounts must send a copy of its annual accounts and auditor's report for each financial year to —
      (a) every member of the LLP, and
      (b) every holder of the LLP's debentures.
      (2) Copies need not be sent to a person for whom the LLP does not have a current address.
      (3) An LLP has a "current address" for a person if —
      (a) an address has been notified to the LLP by the person as one at which documents may be sent to him, and
      (b) the LLP has no reason to believe that documents sent to him at that address will not reach him.
      (4) Where copies are sent out over a period of days, references in the Companies Regulations to the day on which copies are sent out shall be read as references to the last day of that period."

    • 407. Default in sending out copies of accounts and auditor's report: contraventions

      (1) If default is made in complying with section 405 (duty to circulate copies of annual accounts and auditor's report), a contravention of the Companies Regulations is committed by —
      (a) the LLP, and
      (b) every member of the LLP who is in default.
      (2) A person who commits the contravention referred to in subsection (1) shall be liable to a fine of up to level 4.

    • 408. Right of member or debenture holder to copies of accounts and auditor's report

      (1) A member of, or holder of debentures of, an LLP is entitled to be provided, on demand and without charge, with a copy of —
      (a) the LLP's last annual accounts, and
      (b) the auditor's report on those accounts (including the statement on that report).
      (2) The entitlement under this section is to a single copy of those documents, but that is in addition to any copy to which a person may be entitled under section 405 (duty to circulate copies of annual accounts and auditor's report).
      (3) If a demand made under this section is not complied with within seven days of receipt by the LLP, a contravention of the Companies Regulations is committed by —
      (a) the LLP, and
      (b) every member of the LLP who is in default.
      (4) A person who commits the contravention referred to in subsection (3) shall be liable to a fine of up to level 4.

    • 409. Name of signatory to be stated in published copies of accounts and reports

      (1) Every copy of a document to which this section applies that is published by or on behalf of the LLP must state the name of the person who signed it on behalf of the board.
      (2) This section applies to the LLP's balance sheet.
      (3) If a copy is published without the required statement of the signatory's name, a contravention of the Companies Regulations is committed by —
      (a) the LLP, and
      (b) every member of the LLP who is in default.
      (4) A person who commits the contravention referred to in subsection (3) shall be liable to a level 3 fine.

    • 410. Requirements in connection with publication of registrable accounts

      (1) If an LLP publishes any of its registrable accounts, they must be accompanied by the auditor's report on those accounts (unless the LLP is exempt from audit and the members have taken advantage of that exemption).
      (2) An LLP that prepares registrable group accounts for a financial year must not publish its registrable individual accounts for that year without also publishing with them its registrable group accounts.
      (3) An LLP's "registrable accounts" are its accounts for a financial year as required to be delivered to the Registrar under section 415 (duty to file accounts and reports with the Registrar).
      (4) If an LLP contravenes any provision of this section, a contravention of the Companies Regulations is committed by —
      (a) the LLP, and
      (b) every member of the LLP who is in default.
      (5) A person who commits the contravention referred to in subsection (4) shall be liable to a fine of up to level 5.

    • 411. Requirements in connection with publication of non-registrable and other accounts

      (1) If an LLP publishes non-registrable accounts, it must publish with them a statement indicating —
      (a) that they are not the LLP's registrable accounts,
      (b) whether registrable accounts dealing with any financial year with which the non-registrable accounts purport to deal have been delivered to the Registrar, and
      (c) whether an auditor's report has been made on the LLP's registrable accounts for any such financial year, and if so whether the report —
      (i) was qualified or unqualified, or included a reference to any matters to which the auditor drew attention by way of emphasis without qualifying the report, or
      (ii) contained a statement under section 469(2) (accounting records or returns inadequate or accounts), or section 469(3) (failure to obtain necessary information and explanations).
      (2) The LLP must not publish with non-registrable accounts the auditor's report on the LLP's registrable accounts.
      (3) References in this section to the publication by an LLP of "non-registrable accounts" are to the publication of —
      (a) any balance sheet or profit and loss account relating to, or purporting to deal with, a financial year (or any part thereof) of the LLP, or
      (b) an account in any form purporting to be a balance sheet or profit and loss account for a group headed by the LLP relating to, or purporting to deal with, a financial year (or any part thereof) of the LLP,
      otherwise than as part of the LLP's registrable accounts.
      (4) In subsection (3)(b) "a group headed by the LLP" means a group consisting of the LLP and any other undertaking (regardless of whether it is a subsidiary undertaking of the LLP) other than a parent undertaking of the LLP.
      (5) If an LLP contravenes any provision of this section, a contravention of the Companies Regulations is committed by —
      (a) the LLP, and
      (b) every member of the LLP who is in default.
      (6) A person who commits the contravention referred to in subsection (5) shall be liable to a fine of up to level 4.

    • 412. Meaning of "publication" in relation to accounts and reports

      (1) This section has effect for the purposes of —

      section 409 (name of signatory to be stated in published copies of accounts and reports),

      section 410 (requirements in connection with publication of registrable accounts), and

      section 411 (requirements in connection with publication of non-registrable accounts).
      (2) For the purposes of those sections an LLP is regarded as publishing a document if it publishes, issues or circulates it (including by making it available on a website) or otherwise makes it available for public inspection in a manner calculated to invite members of the public generally, or any class of members of the public, to read it."