[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-1-en-105":3,"doc-seo-163898-105":53,"doc-detail-163898-en":120},{"code":4,"msg":5,"data":6},0,"success",[7,14,19,24,29,34,39,44,49],{"id":8,"doc_module":9,"doc_module_name":10,"category_name":11,"show_sort_weight":12,"slug":13},11,1,"Template","Presentations",90,"presentations",{"id":15,"doc_module":9,"doc_module_name":10,"category_name":16,"show_sort_weight":17,"slug":18},12,"Resumes",80,"resumes",{"id":20,"doc_module":9,"doc_module_name":10,"category_name":21,"show_sort_weight":22,"slug":23},14,"Invoices",70,"invoices",{"id":25,"doc_module":9,"doc_module_name":10,"category_name":26,"show_sort_weight":27,"slug":28},15,"Posters",60,"posters",{"id":30,"doc_module":9,"doc_module_name":10,"category_name":31,"show_sort_weight":32,"slug":33},16,"Social Media",50,"social-media",{"id":35,"doc_module":9,"doc_module_name":10,"category_name":36,"show_sort_weight":37,"slug":38},17,"Forms",40,"forms",{"id":40,"doc_module":9,"doc_module_name":10,"category_name":41,"show_sort_weight":42,"slug":43},18,"Letters",30,"letters",{"id":45,"doc_module":9,"doc_module_name":10,"category_name":46,"show_sort_weight":47,"slug":48},21,"Paper Templates",5,"papers-templates",{"id":50,"doc_module":9,"doc_module_name":10,"category_name":51,"show_sort_weight":4,"slug":52},158,"General","general-158",{"code":4,"msg":54,"data":55},"ok",{"site_id":56,"language":57,"slug":58,"title":59,"keywords":60,"description":61,"schema_data":62,"social_meta":113,"head_meta":115,"extra_data":117,"updated_unix":119},105,"en","frs-102-small-entities-illustrative-small-company-accounts-december-15","FRS 102 Small Entities - Illustrative Small Company Accounts - December 15","","Illustrative small company financial statements explain key presentation and disclosure transitions when moving from FRSSE to FRS 102 for small entities, aligned with FRS 102 Section 1A and updates under the Small Companies and Groups (Accounts and Directors’ Report) Regulations 2008. The guidance highlights reduced note requirements, the true and fair view implications, encouraged statement formats, provisions for abridged accounts, and acceptable title variations for financial statements and individual items, plus transition-only note treatment and implementation dates.",{"@graph":63,"@context":112},[64,80,95],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":21,"@type":70,"position":76},"https://docshare.wps.com/template/invoices/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/frs-102-small-entities-illustrative-small-company-accounts-december-15/163898/",4,{"url":78,"name":59,"@type":81,"author":82,"headline":59,"publisher":85,"fileFormat":88,"inLanguage":57,"description":61,"dateModified":89,"datePublished":89,"encodingFormat":88,"isAccessibleForFree":90,"interactionStatistic":91},"DigitalDocument",{"name":83,"@type":84},"Tawan","Person",{"url":68,"name":86,"@type":87},"DocShare","Organization","application/vnd.openxmlformats-officedocument.wordprocessingml.document","2026-08-31",true,{"@type":92,"interactionType":93,"userInteractionCount":4},"InteractionCounter",{"@type":94},"ViewAction",{"@type":96,"mainEntity":97},"FAQPage",[98,104,108],{"name":99,"@type":100,"acceptedAnswer":101},"What changes in note disclosures apply when moving from FRSSE to FRS 102 for small entities?","Question",{"text":102,"@type":103},"FRS 102 for small entities includes fewer required notes and is coupled with a general prohibition on additional disclosure requirements beyond what is mandated, resulting in fewer disclosures than the predecessor FRSSE.","Answer",{"name":105,"@type":100,"acceptedAnswer":106},"Why might additional disclosures be needed to achieve a true and fair view under FRS 102 Section 1A?",{"text":107,"@type":103},"While micro-company accounts are presumed true and fair, CA 2006 requires accounts to be true and fair. FRS 102 Section 1A suggests additional disclosures may be necessary and provides recommended items to include.",{"name":109,"@type":100,"acceptedAnswer":110},"What is the purpose of abridged accounts for a small company under the regulations?",{"text":111,"@type":103},"Abridged accounts may be prepared if all shareholders agree annually. The abridged balance sheet presents only alphabetic or roman-designated items, and many notes become unnecessary, while the abridged profit and loss account may begin with gross profit.","https://schema.org",{"og:url":78,"og:type":114,"og:title":59,"og:site_name":86,"og:description":61},"article",{"robots":116,"canonical":78},"index,follow",{"doc_id":118,"site_id":56},163898,1788148323,{"code":4,"msg":5,"data":121},{"doc_id":118,"user_id":122,"nickname":83,"user_avatar":123,"doc_module":9,"category_id":20,"category_name":21,"doc_title":59,"doc_description":61,"doc_content":124,"file_id":125,"file_url":126,"file_type":127,"file_size":128,"view_count":4,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":129,"language":130,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":131,"faqs":132,"seo_title":133,"seo_description":61,"update_tm":119,"read_time":134},2336475104042,"https://ap-avatar.wpscdn.com/avatar/22000c4c32af1715be0?x-image-process=image/resize,m_fixed,w_180,h_180&k=1786537525561427321","\u000f\nIntroduction\nThese illustrative financial statements have been prepared to illustrate the key presentational and transitional disclosure issues on moving from existing FRSSE to FRS 102 applicable to small entities, as outlined in FRS 102 Section 1A small entities, and incorporating the revisions to the Small Companies and Groups (Accounts and Directors’ Report) Regulations 2008 implementing the EU Accounting Directive.\nNotes to the accounts\nOne of the key features of the Regulations is a reduction in the number of notes which are required for small companies. This is coupled with a general prohibition on national governments and standard setters imposing additional disclosure requirements. Therefore FRS 102 for small entities does not have as many disclosures as did its predecessor, FRSSE.\nTrue and fair view\nUnlike micro-company accounts which are presumed to be true and fair, CA 2006 require the accounts to be true and fair and FRS 102 Section 1A suggests that additional disclosures may be necessary to give a true and fair view. It also includes a number of recommendations of items which should be included. These are as follows and they are highlighted in the body of the financial statements:\nThe FRS states that “A small entity may need to provide disclosures in addition to those set out in order to enable the financial statements to give a true and fair view” (1A.6);\nA small entity is encouraged but not required to include:\nA STRGL (Statement of other comprehensive income) where there are gains or losses not recognised in the profit and loss account (1A.9(a));\nA Statement of changes in equity, or a Statement of income and retained earnings ((1A.9(b));\nWhere relevant to the transactions, other events and conditions, a small entity is encouraged to provide the following disclosures:\nA statement of compliance with this FRS adapted to refer to Section 1A;\nA statement that it is a public-benefit entity as set out in PBE 3.3A;\nThe disclosures relating to going concern set out in paragraph 3.9.This would require it to disclose material uncertainties that cast doubt on its ability to continue as a going concern, and where relevant, the fact that the going concern basis has not been used, together with a note of the basis adopted;\nDividends declared and paid or payable during the period (for example as set out in paragraph 6.5(b));\nOn first-time adoption of this FRS an explanation of how the transaction has affected its financial position and financial performance as set out in paragraph 35.13 (1AD.1).\nAbridged accounts\nThese regulations permit a small company to prepare abridged accounts, if all the shareholders agree on an annual basis.\nAbridgement is not to be confused with the general reductions in note disclosures applicable to small companies and which do not require shareholder approval which derive from the maximum disclosure requirements introduced by the Accounting Directive.  Nor is it to be confused with abbreviated accounts under which two sets of accounts were produced, one for the shareholders the other for filing at Companies House.\nIn an abridged balance sheet, a small company is required to present only those items with alphabetic or roman designations. It is not required to include items prefixed by an Arabic numeral. In practice this means that most of the notes to the balance sheet are no longer required. An abridged profit and loss account may start with gross profit (see page 3).\nIn these illustrative accounts where the requirement for a note has been removed for all small companies, it is shown by use of the strike through font, like this. Where information is not required because abridged accounts are being prepared, this is illustrated by highlighting the text like this\nTitles for financial statements and individual items\nFRS 102 permits the use of titles for the financial statements themselves other than those used in the standard provided they are not misleading.\nBIS stated in their follow up to their di","cbCaimqPa3i0D8IM","https://ap.wps.com/l/cbCaimqPa3i0D8IM","docx",242946,38,"English","# Introduction\n# Notes to the accounts\n## True and fair view\n## Abridged accounts\n# Titles for financial statements and individual items\n# New requirements\n# Guidance and limitations\n# Effective date","[{\"question\":\"What changes in note disclosures apply when moving from FRSSE to FRS 102 for small entities?\",\"answer\":\"FRS 102 for small entities includes fewer required notes and is coupled with a general prohibition on additional disclosure requirements beyond what is mandated, resulting in fewer disclosures than the predecessor FRSSE.\"},{\"question\":\"Why might additional disclosures be needed to achieve a true and fair view under FRS 102 Section 1A?\",\"answer\":\"While micro-company accounts are presumed true and fair, CA 2006 requires accounts to be true and fair. FRS 102 Section 1A suggests additional disclosures may be necessary and provides recommended items to include.\"},{\"question\":\"What is the purpose of abridged accounts for a small company under the regulations?\",\"answer\":\"Abridged accounts may be prepared if all shareholders agree annually. The abridged balance sheet presents only alphabetic or roman-designated items, and many notes become unnecessary, while the abridged profit and loss account may begin with gross profit.\"}]","FRS 102 Small Entities - Illustrative Small Company Accounts - December 15 | DOCX",13]