FRS 101 Disclosure Checklist & Checker
Review the reduced-disclosure exemptions and financial-statement requirements that apply to UK FRS 101 individual company accounts.
Not sure whether the entity qualifies for FRS 101?
Check the qualifying-entity conditions before starting this financial-statement disclosure review.
Start your FRS 101 disclosure review
Answer six focused questions. The period start selects the 2026 amendments and switches from IAS 1 to IFRS 18 for periods beginning on or after 1 January 2027.
Your FRS 101 disclosure review
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What this FRS 101 disclosure checklist covers
The tool combines the current FRS 101 exemption matrix with UK-adopted IFRS and financial-statement requirements preserved by company law.
Framework and presentation
FRS 101 compliance, exemptions adopted, parent group information, primary statements, going concern, comparatives, policies, judgements and events after the reporting period.
Reduced disclosures
Conditional relief for cash flows, financial instruments, fair values, share-based payments, business combinations, impairment, tax, related parties and selected other disclosures.
Company law safeguards
Statutory formats, entity and approval details, turnover, fair-value financial instruments, debt, undertakings, directors, employees and auditor information.
Transactions and balances
Revenue, tangible and intangible assets, goodwill, inventories, leases, tax, pensions, provisions, financing, equity, dividends and group investments.
Entity position and transition
Focused sections for subsidiaries, intermediate and ultimate parents, parents not preparing group accounts and first-time FRS 101 application.
Working output
Search, section-level applicability, Done, Needs review and N/A statuses, local persistence, print-ready output and CSV export.
Reduced disclosures without leaving company law behind
FRS 101 changes the disclosure burden, but it does not remove the need to prepare true and fair UK individual company accounts.
What is FRS 101?
FRS 101 is an optional reduced disclosure framework for the individual financial statements of qualifying subsidiaries and parent entities. Recognition and measurement generally follow UK-adopted international accounting standards, with Companies Act presentation modifications.
What disclosures can be reduced?
FRS 101 lists targeted exemptions. Some are available directly, some require equivalent disclosures in relevant consolidated accounts, and some depend on specific group or transaction circumstances.
Does company law still apply?
Yes. FRS 101 accounts remain Companies Act accounts. Statutory formats and note disclosures can preserve information even where a related IFRS disclosure exemption is available.
Can financial institutions use FRS 101?
A qualifying financial institution may use FRS 101, but it cannot use certain exemptions relating to IFRS 7, IFRS 13 financial-instrument disclosures and relevant capital disclosures. Specialist requirements may also apply.
What changes from 1 January 2027?
IFRS 18 replaces IAS 1 for periods beginning on or after 1 January 2027. The checker uses the final UK-adopted IFRS 18 branch and the FRC exemptions and company-law presentation amendments made for that regime.
FRS 101 and IFRS 19
They cannot be applied simultaneously. This checklist assumes FRS 101 has been selected and does not assess IFRS 19 disclosures.
Technical sources used
The checklist wording is independently written. The linked FRC, UKEB and legislation sources remain authoritative.
Detailed source and effective-date metadata is maintained in the checklist rules. Paragraph numbers are not repeated beside every visible item so the working review remains readable.
Using the FRS 101 reduced disclosure checklist
Does this tool confirm that the accounts comply with FRS 101?
No. It is a planning and review checklist. Completion depends on the current standards, company law, materiality, the entity’s facts and the true and fair view assessment.
Can a small company use this FRS 101 checklist?
Yes, if the company is otherwise eligible for and applies FRS 101. Choosing the small companies regime tailors specified company-law items to the Small Companies Regulations. It does not change the framework to FRS 102 Section 1A.
Do shareholders have to approve the use of FRS 101?
No shareholder notification or objection condition is included. The former FRS 101 shareholder-notification requirement was removed in December 2016. Eligibility must instead be assessed against the current qualifying-entity definition and other current requirements.
What does equivalent group disclosure mean?
Some exemptions require equivalent information in the consolidated financial statements that include the entity. FRS 100 explains that this is not always a paragraph-by-paragraph comparison, but the group information must be sufficient for the condition relied upon.
How are conditional exemptions recorded?
Choose Conditions satisfied, Disclosure retained or Needs review once for each exemption family. Conditions satisfied hides only the exemptible points. Company law safeguards remain active.
Where is my checklist saved?
Selections and notes are stored only in local storage in this browser. Clear checklist removes them. The answers are not sent through analytics.
Need a detailed FRS 101 review?
Accoura Advisors can introduce you to a qualified specialist for complex transition, group, financial-instrument or company-law disclosure matters.