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UK accounting standards and statutory reporting for SMEs — including the 2026 UK audit threshold changes, FRS 102 Section 1A, and the lease accounting reforms that affect how businesses present their balance sheets.
The company size thresholds rose sharply for periods beginning on or after 6 April 2025, taking thousands of SMEs out of statutory audit. Here's how the new limits work, when a group must still be audited, and who has to prepare consolidated accounts.
If your company rents its premises, vehicles or equipment, your accounts are about to look different. Here's what the 2026 FRS 102 lease changes mean for small companies — framework by framework — with a worked example and a preparation checklist.
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