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FRS 101 Reduced Disclosure Framework

FRS 101 sets out disclosure exemptions available to UK qualifying subsidiaries and parent companies that otherwise apply the recognition, measurement and disclosure requirements of EU-adopted IFRS.

Which version of the standard?

Guidance on the effective version of FRS 101 for different annual periods along with notes on amendments and early adoption are available exclusively to Corporate Reporting Faculty members – log in or find out how to join the faculty.

Current standard in issue

Amendments applicable from 1 January 2021

Amendments applicable from 1 January 2023

See the FRC's website for a full list of standards in issue and earlier publications, including previous versions of FRS 101, amendments and guidance.

Summary and timeline

Our FRS 101 summary and timeline tells you who is eligible to apply the standard and the disclosures exemptions available – alongside a synopsis, any current proposals and a timeline of FRC updates relating to the standard.

ICAEW guides and support

Helpsheets and factsheets

Reduced disclosure framework
Corporate Reporting Faculty, updated April 2023
This factsheet is designed to assist those adopting FRS 101, which is available to certain entities under the UK financial reporting regime. It has been updated for recent amendments and the effects of UK’s exit from the EU.

Annual factsheets

These exclusive factsheets, produced annually by the Corporate Reporting Faculty for its members, highlight all new and modified requirements for preparers of UK GAAP accounts. Each annual edition focuses primarily on new requirements with mandatory application for preparers with periods beginning on or after 1 January of that year.

2023 UK GAAP Accounts
Corporate Reporting Faculty, August 2023

2022 UK GAAP Accounts
Corporate Reporting Faculty, updated August 2023

2021 UK GAAP Accounts
Corporate Reporting Faculty, updated August 2022

2020 UK GAAP Accounts
Corporate Reporting Faculty, updated August 2021 

Bloomsbury Accounting and Tax Service

Eligible firms have free access to Bloomsbury Professional's comprehensive online library, comprising around 80 titles from some of the country's leading tax and accounting subject matter experts. Find out who is eligible and how you can access the Bloomsbury Accounting and Tax Service.

The Companies Act 2006 and UK Generally Accepted Accounting Practice
Steve Collings, Bloomsbury Professional (2023)
A chapter introducing the structure of UK GAAP - part of a one-stop-shop guide by Steve Collings on all aspects of UK auditing standards and new UK GAAP accounting standards. The chapter includes a section on FRS 101, with a table outlining the disclosure exemptions available.

Terms of use: You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the Acceptable usage terms.

If you have any difficulties using these eBooks, please contact library@icaew.com.


Access to eBooks is only available to ICAEW members and ACA students – please log in to view these titles.

FRS 101 – Reduced disclosure framework
EY, UK GAAP 2019: Application of FRS 100–104 in the UK (2019)
Fully updated guide focusing on each area of the financial statement in detail with illustrative examples. This chapter covers the measurement and presentation differences between FRS 101 and EU-adopted IFRS, disclosure exemptions for qualifying entities, and additional Companies Act disclosures.

If you have any difficulties using these eBooks, please see our Help and support advice or contact library@icaew.com.

Example accounts

Model accounts and disclosure checklists for new UK GAAP
The ICAEW Library can provide model accounts and disclosure checklists for FRS 101, FRS 102, FRS 102 Section 1A, and FRS 105. The examples and checklists cover a broad range of entities, including small companies, charities, groups, LLPs and micro-companies.

Ask ICAEW Technical Advisory Service

Get an opinion from the experts. Our experienced technical advisors can help you with your UK GAAP questions and offer practical advice. Call the advisory helpline on +44 (0)1908 248 250.

Find out more about the Technical and ethics advisory helpline, including our opening hours.

Can't find what you are looking for?

If you're having trouble finding the information you need, ask the Library & Information Service. Contact us by telephone on +44 (0)20 7920 8620, by web chat or by email at library@icaew.com

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* Some of the content on this web page was provided by the Chartered Accountants’ Trust for Education and Research, a registered charity, which owns the library and operates it for ICAEW.
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