FRS 102 & FRS 101 Illustrative Financial Statements (Complete List)
By Alexander John, CPA · October 6, 2026
Short answer: For 2026 year-ends, the most up-to-date free FRS 102 models are EY’s and Grant Thornton’s group accounts for the year ended 31 December 2026. Both apply the 2024 periodic review amendments, including the new lease and revenue rules. BDO publishes 2025 limited company, LLP and early-adoption versions. For FRS 101, use PwC’s or BDO’s 2025 sets.
When preparing financial statements under UK GAAP, finding reliable examples can be time-consuming. To simplify this, we’ve gathered publicly available illustrative (model) financial statements from leading UK audit firms - PwC, EY, Grant Thornton and BDO in one place.
FRS 102 illustrative financial statements
FRS 102 is the main UK GAAP standard. Amendments from the FRC’s 2024 periodic review apply to periods beginning on or after 1 January 2026, so check which version a model follows before you rely on it.
LedgerQ
Editable FRS 102 financial statements template
Private limited company (Ltd), single entity · generic, non industry specific template to get you started
EY
Good Practice Group Limited: group and parent company financial statements
Year ended 31 December 2026 · applies the 2026 amendments
Grant Thornton
Magnificent Cuisine Limited: group and parent company financial statements (FY26)
Year ended 31 December 2026 · applies the 2026 amendments
BDO
Limited company financial statements, early adoption of the FRS 102 amendments
Year ended 31 December 2025 · amendments early adopted
BDO
LLP (limited liability partnership) financial statements
Year ended 31 December 2025 · before the 2026 amendments
PwC
UK GAAP (FRS 102) illustrative financial statements, October 2025 edition
Year ended 31 December 2024 · includes commentary on the 2026 changes
Prepare FRS 102 accounts in Excel and Word, faster
LedgerQ links your Excel workings to the Word statements and updates every table after each review round. Book a demo to get a free trial.
FRS 101 illustrative financial statements
FRS 101 lets qualifying subsidiaries and parent companies apply IFRS recognition and measurement with reduced disclosures. Its 2024 periodic review changes are editorial, so the 2025 models below remain a good reference.
PwC
UK GAAP Limited: annual report and FRS 101 financial statements
Year ended 31 December 2025 · wholly owned private subsidiary
FAQs
What are illustrative financial statements?
They are model annual reports that audit firms publish for a fictional company. They show the layout, accounting policies and disclosures that FRS 102 or FRS 101 and the Companies Act 2006 require.
What is the difference between FRS 102 and FRS 101?
FRS 102 is the main UK GAAP standard and a stand-alone framework used by most UK private companies. FRS 101 is a reduced disclosure framework for qualifying entities, usually subsidiaries and parents whose results are included in publicly available consolidated financial statements. It applies IFRS recognition and measurement but exempts many IFRS disclosures, and it can only be used in individual, not consolidated, financial statements.
Which models reflect the 2026 FRS 102 amendments?
EY’s and Grant Thornton’s models for the year ended 31 December 2026 apply them, and BDO’s early-adoption version applies them to a 2025 year-end. The amendments apply to periods beginning on or after 1 January 2026. The biggest changes bring most leases onto the balance sheet and introduce a five-step revenue model, based on IFRS 16 and IFRS 15.
Where can I find US GAAP and IFRS illustrative financial statements?
See our lists of US GAAP illustrative financial statements and IFRS illustrative financial statements.
Disclaimer of Liability: This publication is intended to provide general information to our clients. It does not constitute accounting, tax, investment, or legal advice; nor is it intended to convey a thorough treatment of the subject matter.
