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FRS 102: Related party disclosures under UK GAAP

FRS 102 Section 33 Related Party Disclosures sets out the requirements for entities to disclose the possibility that its financial position and profit or loss have been affected by the existence of related parties and by transactions and outstanding balances with such parties.

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The requirements relating to specific topics are set out as sections within FRS 102. However, individual sections of the standard should not be looked at in isolation as other parts may be relevant.

FRS 102 is regularly updated and amended by the Financial Reporting Council (FRC). For the full text of FRS 102, guidance on which version of the standard to apply and notes on recent amendments, see our main FRS 102 page.

ICAEW factsheets and guides

The Corporate Reporting Faculty's annual UK GAAP factsheets provide a more detailed discussion of recent UK GAAP amendments.

Exclusive Related party disclosures under FRS 102
  • Helpsheets and support
  • 19 Feb 2026
Helpsheet explaining FRS 102 related party disclosures, defining related parties and key management personnel, outlining required disclosures for transactions and compensation, and highlighting common judgement areas and exemptions.

ICAEW articles and features

FRC sets up SME forum for FRS 102 preparers
  • Article
  • 15 Apr 2026
  • ICAEW Insights
The Financial Reporting Council’s new discussion forum will give SME stakeholders the opportunity to share their experiences of applying FRS 102 to corporate reports.
FRC clarifies related party disclosures for small UK entities
  • Article
  • 01 Sep 2025
  • ICAEW Insights
The Financial Reporting Council has provided clarification relating to the disclosure of directors’ remuneration by UK small entities applying the new FRS 102 Section 1A, effective from 1 January 2026.
Exclusive A closer look at the changes to UK GAAP affecting small entities
  • Article
  • 29 Sep 2026
  • Danielle Tulett, Financial Reporting and Technical Senior Manager, Operations Risk and Compliance, Cooper Parry
  • By All Accounts
Small entities reporting under Section 1A of FRS 102 face several new requirements following the Periodic Review 2024 amendments. Beyond the accounting changes for revenue and leases, we take a closer look at the revised disclosure requirements.

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Exclusive Related party disclosures
  • eBook chapter
  • 2026
  • Steve Collings
  • Financial Reporting for Unlisted Companies in the UK and Republic of Ireland
A chapter providing practical guidance on related party disclosures for financial statements under UK GAAP.
Exclusive Related parties
  • eBook chapter
  • 2026
  • Steve Collings
  • Small Company Financial Reporting
A chapter on related party disclosure requirements within the small companies' financial reporting framework and the micro-entities legislation, written by a specialist on small company reporting issues.
Exclusive Related parties
  • eBook chapter
  • 2025
  • Steve Collings
  • Practical Guide to UK Accounting and Auditing Standards
Chapter on related parties in a guide to all aspects of UK auditing standards and UK GAAP accounting standards.
Exclusive Related parties
  • eBook chapter
  • 2024
  • Julia Penny
  • Accounting Principles for Tax Purposes
A full chapter on related parties in this accessible introduction to the accounting rules relevant to tax computations in the UK.
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Other resources

UK Accounting Plus
  • Website
  • Deloitte

Overviews of each UK accounting standard, with a history and timeline of key events and amendments.

UK GAAP 2026: Application of FRS 100–FRS 104 in the UK (May 2026)
  • Website
  • EY

Detailed manual that incorporates the September 2024 editions of FRS 100–104, plus amendments issued up to March 2026, and changes to legal requirements for UK companies and LLPs. It offers insight on practical application issues.

UK GAAP model accounts and disclosure checklists
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  • ICAEW Library and Information Service
Example financial statements and disclosure checklists for UK GAAP available from the ICAEW Library & Information Service, Bloomsbury and other sources.

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