LLP's and FRS102    
Introduction
VT's FRSSE based LLP template is up to date for accounting periods starting on or before 31 December 2015.

FRS102
FRS102 must be applied for accounting periods starting on or after 1 January 2016. Typically this means for periods ending on or after 31 December 2016.

For the same periods, new regulations apply that reduce the number of mandatory notes, abolish abbreviated accounts and introduce a micro-entity LLP format. A new LLP SORP is also being prepared.

The balance sheet and related notes are filed with Companies House instead of abbreviated accounts.

New templates catering for the above will be released in March 2017.

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