Accountants Accounting and Reporting Policy UK Accounting Standards Standards in issue FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime

FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime

This FRS is intended for use in the preparation of the financial statements of companies that qualify for the micro-entities regime. The accounting requirements are adapted to satisfy the legal requirements applicable to micro-entities and reflect the simpler nature and smaller size of micro-entities. The application of the micro-entities regime is optional, however, a micro-entity that chooses to prepare its financial statements in accordance with the regime is required to apply FRS 105. An entity that qualifies for but chooses not to apply the regime is required to apply another standard.

Related impact assessments and feedback statements to the following publications.

Extant publications

From 1 January 2019 (early application permitted)

March 2018

FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime (March 2018) (PDF)

December 2017

Triennial review 2017 amendments (PDF)

Before 1 January 2019

May 2016

Amendments to FRS 105 - Limited Liability Partnerships and Qualifying Partnerships (PDF)

July 2015

FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime (Jul 2015) (PDF)

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