These factsheets, running to 22 pages of accessible information and handy tips on what to look out for, provide company preparers with additional clarity when applying specific elements of accounting standards for presentation of financial statements and the going concern basis for small companies.

As a result of the Periodic Review 2024 completed in March 2024, changes were made to the disclosure requirements in UK accounting standards relating to going concern, which include new disclosures for small companies, the FRC confirmed, which will affect all preparers using FRS 102.