FRS 102 Section 1A Disclosure Checklist

FRS 102 Section 1A (Small Entities) Compliance Tool

This tool helps ensure statutory accounts comply with the required disclosures for FRS 102 Section 1A. Small companies must meet at least two of the three criteria below and are NOT micro-entities.

🔑 FRS 102A Qualification Criteria (For Reference)

A small company must meet at least two of the following: Turnover ≤ £10.2m, Gross Assets ≤ £5.1m, Average Employees ≤ 50.

Note: FRS 102A uses full FRS 102 recognition and measurement rules but has reduced disclosure requirements.

✅ Conditional Disclosures Checkpoints

Answer 'Yes' if the asset, transaction, or policy exists in the accounts.

Assets & Liabilities Policies
Employee & Compensation Notes
Other Transactions & Tax

📝 Compliance Summary

Mandatory Notes (Always Required):

  • Basis of Preparation: Statement that the accounts are prepared under FRS 102 Section 1A.
  • Principal Accounting Policies: Must describe policies for all material items (e.g., turnover recognition, depreciation rates, inventory method).
  • Statutory Information: Registered office, nature of operations, and legal form.
  • Share Capital: Number and nominal value of shares, authorised, issued, and fully paid.
  • Audit Exemption Statement and **Directors' Report** (required unless abridged).
Conditional Footnotes Required

Answer the questions in the Checklist section to generate the required disclosures here.