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Contents
4.2 Small Companies-Exemptions.
4.2.1Extract from FRS102: Section 4.1A.
4.3 Information to be presented in the statement of financial position.
4.3.1 Extract from FRS102: Section 4.2-4.4A and Section 4.7.
4.3.2.2 Practical application of Format 1.
4.3.2.3 Schedule 3 Format 1 -Balance Sheet.
4.3.2.4 Schedule 3 Format 2- Balance Sheet.
4.4.1 Extract from FRS102: Section 4.12-4.13.
4.4.2.2 Share Capital Disclosures.
4.4.2.3 Notes required on any reserves included in equity.
4.5.1 Extract from FRS102: Section 4.14.
4.6 Alternative statement of financial position format.
4.6.1 Extract from FRS102: Section 4.2-4.2D.
4.6.2.2 Example of Alternative statement of Financial Position.
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4.5 Information to be presented in the notes-binding agreement to sell (a) major assets/asset groups
4.5.1 Extract from FRS 102: Section 4.14
4.14 If, at the reporting date, an entity has a binding sale agreement for a major disposal of assets, or a disposal group, the entity shall disclose the following information:
(a) a description of the asset(s) or the disposal group;
(b) a description of the facts and circumstances of the sale; and
(c) the carrying amount of the assets or, for a disposal group, the carrying amounts of the underlying assets and liabilities.
4.5.2 OmniPro comment
See application of the disclosures required in the notes to the financial Statements under section 4.14 of FRS102 with regard to binding agreements to sell major assets /groups.
Example 3A: Commitments Disclosure
On 30 December 2015 the company entered into a binding agreement subject to planning permission to dispose of its subsidiary XYZ Limited for CUXXXX. The carrying amount of the net assets including goodwill at 31 December 2015 was as follows CUXXXXX.
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Examples
Example 1: Extract from the Consolidated Balance Sheet – S.4 FRS 102.
Example 2: Extract from the notes to the financial statements – Ordinary share capital
Example 3: Extract from the notes to the financial statements – Reserves note.
Example 4: Alternative Statement of Financial Position S4.2.A – S4.2D Alternative IFRS Version.
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