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FRS 105 Statutory Disclosure Checklist

FRS 105 (Micro-Entity) Compliance Tool

This tool helps ensure your statutory accounts comply with the minimal disclosure requirements of FRS 105. The company must meet at least two of the three qualification criteria below.

🔑 FRS 105 Qualification Criteria (Yes/No)

1. Is Turnover less than or equal to £632,000?

Yes No

2. Is Gross Assets less than or equal to £316,000?

Yes No

3. Is Average number of Employees less than or equal to 10?

Yes No

✅ Conditional Disclosure Checkpoints (If Qualified)

Answer 'Yes' if the asset, transaction, or circumstance exists. The options below are disabled until the company is qualified.

Mandatory Footnotes

1. Did the company have Fixed Asset Movements (purchases, sales, depreciation changes)?

Yes No

2. Were there any Advances, Credit, or Guarantees provided by the Company TO a Director?

Yes No

3. Are any assets subject to a Charge (secured against a loan or liability)?

Yes No

4. Are there any material Financial Commitments (e.g., non-cancellable operating lease obligations)?

Yes No

5. Are there any material Contingent Liabilities (potential obligations or claims)?

Yes No

6. Did a material Non-Adjusting Event After the Reporting Period occur (e.g., major fire, large contract signed)?

Yes No

7. Were there any Prior Period Adjustments (correction of error or change in accounting policy)?

Yes No

Critical Policy Checks / Prohibitions

8. Has the company recognized any internally generated Intangible Assets (e.g., R&D, Software, Website costs)?

Yes No

9. Has the company recognized Goodwill or other Purchased Intangible Assets?

Yes No

10. Does the company hold Investment Property?

Yes No

11. Has any Property, Plant, or Equipment (PPE) been revalued?

Yes No

12. Has the company capitalized any Borrowing Costs (interest payments)?

Yes No

13. Does the company hold any Deferred Tax assets or liabilities?

Yes No

14. Were there any material RELATED PARTY TRANSACTIONS (other than Director Loans/Advances)?

Yes No

15. Does the Balance Sheet include any Investments in Shares or Financial Instruments?

Yes No

16. Does the company hold any Government Grants (excluding those for income/revenue)?

Yes No

17. Has the company calculated a material liability for Accrued Employee Benefits (e.g., holiday pay)?

Yes No

18. Is the Going Concern assumption NOT appropriate?

Yes No

📝 Compliance Summary

Select 'Yes' or 'No' for the qualification criteria to begin.

Required Footnote Disclosures / Policy Warnings

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

⚠ Administrative Notes:

The Statement of Preparation and Audit Exemption Statement must be included on the Balance Sheet.
Employee numbers and a Directors' Report are NOT required for FRS 105 submission.

Faraday Keynes Ltd

7 Rock Farm Mews
Front Street, Wheatley Hill
Durham, DH6 3NG

Company No. 07914968

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