LL MG04- Statement that part [or the whole] of the property charged (a) has been released from the charge; (b) no longer forms part of the Limited Liability Partnership’s (LLP’s) property

The Limited Liability Partnership need not inform Companies House that a charge has been fully or partly satisfied. However, it is obviously in the partnership's own interests that potential investors and lenders know that all or part of the debt has been paid off.

The LLP number and full name is required, followed by the creation and registration date and the description of the charge. The names and addresses of all chargee(s) or trustee(s) is also required, plus the short particulars of the property that has been charged or mortgaged.

Finally, the appropriate box needs to be ticked with regards to whether the charge describes covers part or whole of the property. And also whether it has been released from the charge, ceased to form part of the LLP’s property or whether it has been released from the charge and ceased to form part of the LLP’s property.

To activate the form

Go to Edit | Mortgages and Charges, highlight relevant mortgage/charge, click Edit.

Enter a date for the discharge of the mortgage or charge. Having saved this information the option of a full or part satisfaction is given, together with a selection for the person signing the form.

• Click Yes when asked to log the particulars of this event.

To display the form

Go to Reports | Company Forms, highlight form LLMG04 and click Print Form and OK.

To display a form with basic details go to Reports | Forms with Basic Details | Form LLMG04- Application for registration of a memorandum of satisfaction that part (or whole) of the property charged (a) has been released from, the charge; (b) no longer forms part of the Limited Liability Partnership’s (LLP’S) property. The form opens in Word showing the basic details.

To display a blank form go to Reports | Blank Forms |  Form LLMG04- Application for registration of a memorandum of satisfaction that part (or whole) of the property charged (a) has been released from, the charge; (b) no longer forms part of the Limited Liability Partnership’s (LLP’S) property. This opens the completely blank form into Microsoft Word.

LL MG04 - Example Form

Click on any area of the form for additional information: