UK IFRS Changes and Important Information

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Ensure you have read the Important Information for the current release before continuing.

UK IFRS
Version 33 - platform build 6.30 onwards

The updates within version 33 include:

  • A new style has been added to the reports named “value column decimal” which is used in the ‘Financial KPI’s’ table (within the ‘Strategic Report’) to present values entered to this disclosure with up to 5 decimal places.
  • A new style has been added to the reports named “note number” which is used in all note headings. If the note headings are customised, the spacing between the note number and the heading can now easily be amended by editing this style.
  • Per the amendments to IAS 7 and IFRS 7, a new tab has been added within the Trade and Other Payables disclosure to enter relevant details regarding “supplier finance arrangements”.
  • Per the amendments to IAS 1, new fields have been added to the Bank Loans and Borrowings tab within the Group/Company Loans and Borrowings disclosure to enter details related to “loan covenants”.
  • New category created, ‘P 6 - Impairment loss or reversal on financial and contract assets’ to allow disclosure of “impairment of financial assets” to be disclosed on face of ‘Income Statement’ and category ‘N 5 - Impairment loss or reversal on non-financial assets‘ renamed from “impairment loss or reversal".
  • New category ‘NCA 10’ and sub-categories added for disclosure of “retirement benefit obligations” as a non-current asset.
  • New categories added for depreciation of “property, plant and equipment held for sale or in a disposal group” to the existing depreciation categories for the five classes of “property, plant and equipment”.
  • New category ‘NCL 10’ and sub-categories added for disclosure of “trade and other payables” as a non-current liability. Option added to the Trade and Other Payables disclosure to disclose “trade and other payables” values combined or in separate tables for “current” and “non-current”.
  • A reconciliation has been added to each Statement of Changes in Equity table comparing prior period closing balances with current period opening balances. A separate warning has been added to highlight differences between the Equity values in these tables and the Statement of Financial Position / Balance Sheet.
  • Improvements to the Deferred Tax disclosures (tab found within Income Tax) by adding new tables for disclosure of “movements in total deferred tax” utilising all available XBRL tags and to allow disclosure of year-end totals per each asset or liability. Original disclosure has just a few columns to analysis movements so this will avoid customers needing to customise this disclosure.
  • Accounting policy wording for “leases” has been updated to reflect the changes to IFRS 16 in respect of “sale and lease backs with variable payments”.
  • Removed from the reports root folders the code for the “xbrl-assert-exists” on the two tags relating to Pension Schemes as these were presenting false validation errors.
  • Corrections to the ‘Independent Auditor's Report’ on the display condition of the ‘Audit report signature’ and the expression for the wording "statement of directors responsibilities" in template ‘Responsibilities of directors’.
Version 32 - platform build 6.30 onwards

The updates within version 32 include:

  • All reports updated to use the 2024 taxonomy.
  • Added new rows and categories to the ‘Statement of Comprehensive Income’ for disclosure of “further items”.
  • Options added to disclose related party details for more than one related party with the disclosures for Transactions with Entities with Joint Control or Significant Influence and also Transactions with Other Related Parties.
  • Added option to disclose “further details” related to the Trade and Other Receivables disclosure.
  • Provided options to now disclose up to 10 “acquisitions” within the Acquisition disclosure.
  • Corrections to tagging within the ‘Investments’ and ‘Defined Benefit Pension Scheme’ notes.
  • Add missing category ‘P 8 2 3 – Interest on obligations under finance leases and hire purchase contracts’ to the ‘Cash Flow Statement’.
  • Removed the "direct investment of parent company" option from within the Company Investments disclosure as only required in consolidated accounts.
  • Updates to the warnings for errors/differences with the names and descriptions entered for Accountants, Auditors and Bankers.
  • Hidden tag added to the ‘Cover Page’ folder so if the ‘Employee information’ note is not included in the report as there are no details to enter, the mandatory tag is still included in the final output.
  • Further improvements to the template when used on the web.
  • Various fixes to issues with existing disclosures in order to improve the customer experience.
Version 31 - platform build 6.30 onwards

The updates within version 31 include:

  • New disclosure added within the Income Tax disclosure for ‘International tax reform – Pillar Two model rules'.
  • Improvements to the final report view after filing with Companies House and corrected the issue when filing with HMRC as a result of the report containing empty cells.
  • Updated the 'Average number of employees' disclosure within Employee Information to allow zero as the number of employees.
  • Edit the wording of the items in the predefined list of the 'Tax reconciliation' disclosure within Income Tax for consistency with other templates and to ensure the option selected links to the correct tag within the report.
  • Correct display conditions linked to the wording for presenting “revised financial statements”.
  • Update the tagging in the ‘iXBRL Detailed P&L’ within the UK IFRS Group Accounts report to include the “consolidated” tag dimension. In previous taxonomies this wasn’t available for all profit and loss tags.
  • Further improvements to the template when used on the web.
Version 30 - platform build 6.30 onwards

The updates within version 30 include:

  • The reports have been updated to meet the new Companies House tagging requirements following the removal of “original data” tag dimension.
Version 29 - platform build 6.30 onwards

The updates within version 29 include:

  • This template release includes a fix required to push and use the template on the web version of the application.
Version 28 - platform build 6.30 onwards

The updates within version 28 include:

  • The reports have been updated to use the 2023 taxonomy. The same taxonomy can now be used for filings with HMRC and Companies House.
  • As a result of using the 2023 taxonomy there have been numerous changes to the tagging in the reports which include the ‘Energy and Carbon Report’ being fully tagged and all tables now updated to use the “currently stated amount default” tag dimension as the “restated amount” tag dimension has been removed. In addition, there are now separate ‘Statement of Changes in Equity’ tables, one to be used when there are adjustments/restatements and one without these movements.
  • All column headings within the ‘Statement of Changes in Equity’ now link to the description of the category used for that column in the table.
  • Further improvements to the template when used on the web.
  • Various fixes to issues with existing disclosures in order to improve the customer experience.
Version 27- platform build 6.30 onwards

The updates within version 27 include:

  • Visible link added to the reports to Edit Data on the Disclosure tab.
  • Improvements to the Share-Based Payments disclosure.
  • Update the tagging within notes ‘Trade and other receivables / Debtors’ and ‘Trade and other payables / Creditors.
  • Further improvements to the template when used on the web.
  • Various fixes to issues with existing disclosures in order to improve the customer experience.
Version 25 & 26- platform build 6.30 onwards

The updates within version 25 & 26 include:

  • Improve the presentation of the Category Summary report, including edits to the page header to correct the incorrect prior period date being used, and page footer so these link to the settings on the Summary tab.
  • Add new reports, based on the Category Summary report, named Category Summary - Format 1 (Function) and Category Summary – Format 2 (Nature).
  • New report added named Category Summary – Rounding Variances to allow users to see how the rounding has been applied to each category value.
  • Updated the Disclosure tab and within the reports to use the title “Energy and carbon report” rather than “Streamlined energy and carbon report”. The “Energy and carbon report’ has been moved to the ‘Strategic Report’ within subsection ‘Non-financial and sustainability information.New tab added to this section on the Disclosure tab to provide options between Voluntary and Mandatory disclosure and the status panel text has been updated to highlight this fact. A total row has also been added to the disclosure ‘Summary of emissions’.
  • Within the ‘Strategic Report’, added new template ‘Financial KPI's to 2dp’ and provided an option to use this or the template which doesn’t disclose the values to two decimal places.
  • Improvements to the presentation of the 'Statement of Changes in Equity'.
  • Remove conditions resulting in columns used for company disclosure within the Non-Import Custom Disclosures only being displayed when preparing "company" reports rather than also appearing for "group" reports.
  • Correct the error found in note ‘Financial risk review’, within ‘Maturity analysis for financial liabilities and financial assets’ which prevented values from displaying in the report when new rows were created.
  • Update the tagging and categories used within note 'Creditors: amounts falling due after more than one year' so the balance of this note agrees to the 'Statement of Financial Position/Balance Sheet'.
  • Correct issues/further improvements to disclosures which were preventing the template from pushing to the web.
  • Various fixes to issues with existing disclosures in order to improve the customer experience.
Version 24- platform build 6.30 onwards

The updates within version 24 include:

  • Reports updated to use HMRC 2021 taxonomy.
  • Removed all references to the EU (European Union) following the UKs exit from the EU and replaced with “UK adopted IFRS”.
  • Updated the 'Independent Auditors Report' per the latest bulletin (August 2021), applicable to periods commencing on/after 1st February 2020 and correct the accounting references.
  • Updated the Revised Financial Statements disclosure dialog and the XBRL tags for this in all reports. Tested filings using the new HMRC taxonomy are accepted (previously only accepted by Companies House).
  • New manual data entry tables to enter values for the following sections rather than post journals and use categories to analyse the movements:
  • New categories added for “trade and other receivables” as a non-current asset.
  • Updated the default wording within the accounting policy 'Summary of FRS 101 Disclosure exemptions' found on the Basis of Preparation disclosure dialog and also the ‘Provisions’ note to provide a table of values that link to either the Companies House or IAS version of the 'Balance Sheet' within the FRS 101 Accounts.
  • Reviewed the FRS 101 Accounts report and amended where necessary to provide consistency throughout the report with the use of the wording variables found on the Summary tab within the Report Wording Variables for FRS 101 Report dialog.
  • Correct issues/further improvements to disclosures which were preventing the template from pushing to the web.
  • Various fixes to issues with existing disclosures in order to improve the customer experience.
Version 22 & 23- platform build 6.28 onwards

The updates within version 22 & 23 include:

Version 20 & 21 - platform build 6.24 onwards

The updates within version 20 & 21 include:

  • New disclosures added for Streamlined Energy and Carbon Reporting for periods beginning after 1 April 2019. These are required for large companies but it is recommended that smaller entities disclose this information.
  • New additional disclosures added named Non-Import Custom Disclosures.
  • Independent Auditors Report updated per March 2020 Illustrative Auditor’s Reports Bulletin from the FRC.
  • New disclosures added to financial instruments for amendments relating to Interest Rate Benchmark Reform.
  • New disclosure within Accounting Polices, Basis of Preparation for the "impact from covid 19".
  • New field added on the Summary tab, General dialog to enter Unique Taxpayer Reference. To be used when filing with HMRC is a companies registration number is not provided
  • New iXBRL tag validation added for "Average Number of Employees During Period". To be used when filing with Companies House ahead of 13th October when this validation is mandatory.
  • New Other Notes field added on the Summary tab, to disclose notes on the entity that roll forward (are not period specific unlike the existing Period Notes which don't roll forward).
  • Various bug fixes.
Version 19 - platform build 6.24 onwards

The updates within version 19 include:

  • New disclosures added to comply with Corporate Governance (including Wates Principles) for large companies.
  • New disclosures for Companies Miscellaneous Reporting Regulations.
  • New disclosures added within the Independent Auditors Report:
  • The impact of uncertainties resulting from Brexit.
  • Other significant developments.
  • Option added to import data from Excel on the Company Investments disclosure dialog for Investments in Subsidiaries, Joint Ventures and Associates. New table created to list all investments as an alternative method of adding this information.
  • Transitional disclosure for adopting IFRS 16 expanded to provide a more detailed explanation about the first year of application.
  • Leases and Hire Purchase Obligations disclosure replaced with Leases for IFRS 16 compliance.
  • Reports updated for 2019 taxonomies accepted by HMRC and Companies House (available in platform version 6.24.8820.289 onwards).
Version 18:

The updates within version 18 include:

  • Platform build 6.17 onwards
  • Reports updated to use the 2019 taxonomies accepted by HMRC and Companies House.
  • New accounting polices disclosure for the changes resulting from first time adoption of IFRS 9 and IFRS 15.
  • Various bug fixes.

Important information: Customers using a platform version earlier than v6.24 will need to manually add the new taxonomies. Please speak to support to obtain the two new 2019 taxonomy files(a HMRC accepted taxonomy which contains tags for a detailed profit and loss, and the 2019 Companies House accepted taxonomy).

Version 17:

The updates within version 17 include:

  • Platform build 6.17 onwards
  • Various bug fixes.
  • Various disclosure updates per the requirements of IFRS 9 to support accounting periods starting on/after 1st January 2018.
  • Various disclosure updates per the requirements of IFRS 15 to support accounting periods starting on/after 1st January 2018.
  • Various disclosure updates per the requirements of IFRS 16 to support accounting periods starting on/after 1st January 2019. Early adoption is permitted by ticking the appropriate control on the Summary tab > General dialog, customers can confirm early application of this.
Version 16:
  • Platform build 6.17 onwards
  • Various bug fixes.
  • An option has been added to the Report Table Settings dialog enabling you to align the table column headers.
  • Footers in all financial statement reports have been updated to include a Date and Time option.
  • The General dialog within the Summary tab now includes a new Members option in the Financial statements to be presented to: section. Selecting this option includes a detailed profit and loss statement within the financial statements that has not been iXBRL tagged.
  • The Officers dialog within the Summary tab now includes the options to present the Strategic Report and Directors Report signatures Horizontally or Vertically. The dialog also includes a new Add a blank signatory tab which enables an officer type to be added with a dotted signature line, ie without an actual officer name.
  • The Report Settings dialog within the Summary tab now includes a Present Statement of Changes in Equity option. Ticked Yes by default it allows for an iXBRL tagging warning to be included in the report if the current period opening and prior period closing values differ. This warning will be hidden if the SOCIE is excluded.
  • A Commentary to Support Related Party Disclosure template has been added to the Disclosures as requested enabling you to add general related party information.
  • An option to not apply the rounding and scaling settings to the share capital note has been added to the Share Capital Disclosure. If ticked, the template values are shown in pounds and not rounded.
  • The Detailed Profit and Loss now provides separate templates for each section rather than having one large table, enabling you to add page breaks if necessary to improve pagination.
  • iXBRL warnings have been added if there are differing values for property, plant and equipment cost and depreciation at period ends.
  • New templates have been created within the Dividends note enabling you to present share values without the decimal places if required:
Version 15:
Version 14:
  • Platform build 6.17.8163 onwards
  • Options have been added to the General dialog enabling you to switch between the taxonomies accepted by HMRC and Companies House, making it easier to include an iXBRL tagged Detailed Profit and Loss in the report for HMRC.
  • Corrections to a number of spacing issues within notes.
  • Horizontal signature templates have been added to all reports.
  • The Audit Report has been updated per amendments to S496 of CA2006 applying to periods commencing on or after 1 January 2016.
  • A new Audit Report has been added per the requirements of ISA (UK) 700 (revised June 2016) - which applies for accounting periods commencing on or after 17 June 2016.
  • An update to the Investments note to refer to the Registered Office of the undertaking.
Version 13:
  • Platform build 6.10.7454 onwards
  • Presentation and Number and Date formatting have been moved from the Disclosure tab to a new Report Options section on the Summary tab.
Version 12:
  • Platform build 6.10.7454 onwards
Minor fix only.
Version 11:
  • Platform build 6.10.7454 onwards

It is recommended that you only perform this template upgrade at the beginning of your work on a set of accounts after you have rolled into a new period. You should always back up your database before upgrading.

General Points

Important information: This release is due to the IFRS reports being tagged with the FRC IFRS taxonomy. We have had to make a number of minor changes to disclosures to enable use of the new taxonomy. Where we have had to make amendments to predefined iXBRL lists in disclosures as noted below you will need to revisit the disclosures and either amend the tag using the drop-down or, in disclosures where a drop-down list is not available, you may need to delete and re-enter information if it was previously tagged with a tag that does not exist in the new taxonomy.
If you have made any customisations to report elements within your reports then they will be shown in bold in the Report Structure pane when you are previewing your IFRS report. In these cases the report elements will not take on the tags from the new taxonomy. You will need to revert to the master on these report element templates to take on the new taxonomy, or add tags from the new taxonomy yourself.

Category structures: Two new category structures have been added for those who want to file an iXBRL tagged detailed P&L using the tagging within the Accounts Production software, rather than your Corporation Tax software. Although accounts can be mapped to these categories in version 6.10 of the platform the report element template that will need to be added to your report for filing will not be available until 6.11 of the platform. Please see separate section below on Taxonomy References for further information.
There is also a new category structure for Tax which is for Digita Accounts Production Advanced users who also have Digita Corporation Tax.
Summary Tab
Officers:

Within the Summary screen, you will need to review the Officer type for Company secretary and any officers marked as Company secretary and director as the types have changed in the new taxonomy and this will need amending.

Disclosure Tab
Financial Statements:
iXBRL tag lists have been amended in the Income Tax, Deferred Tax and Financial Instruments sections.
Mandatory Tags
The five new mandated tags are hidden in the XML of the Cover Page of the report:
- Accounting standards applied.
- Accounts status, audited or unaudited.
- Accounts type, full or abbreviated.
- Legal form of entity.
- Description of principal activities.
Taxonomy References
iXBRL Detailed Format 1 and Format 2 Profit and Loss Account report elements are available for use in UK IFRS from version 6.11 of the platform onwards. This will be included in the Report Elements Templates, UK_EU Style Elements, Specific Elements.
If you want to include the iXBRL Detailed Format 1 and Format 2 Profit and Loss Accounts elements in your report you must amend the taxonomy reference as follows:
  1. Run the UK IFRS Company Accounts report.
  2. Select the Report Structure tab.
  3. Right-click the top folder and select Properties. The Element Properties dialog opens.
  4. Select the XML Source tab.
  5. Amend line 5 as follows:

    6. Change:

    <xbrl-taxonomy xbrl-taxonomy-namespace="http://xbrl.frc.org.uk/IFRS/2014-09-01" xbrl-taxonomy-href="http://xbrl.frc.org.uk/IFRS/2014-09-01/IFRS-2014-09-01.xsd" xbrl-entity-identifier-scheme="http://www.companieshouse.gov.uk/" xbrl-dimensions="core:RestatementsFirstTimeAdoptionDimension=core:RestatedAmount">

    To:

    <xbrl-taxonomy xbrl-taxonomy-namespace="http://www.govtalk.gov.uk/uk/fr/tax/frs-full-dpl/2015-02-14" xbrl-taxonomy-href="http://www.hmrc.gov.uk/schemas/ct/combined/2015-02-14/frs-full-dpl-2015-02-14.xsd" xbrl-entity-identifier-scheme="http://www.companieshouse.gov.uk/" xbrl-restatement-dimension="core:RestatementsFirstTimeAdoptionDimension=core:RestatedAmount">

  6. Click OK to close the dialog.
  7. Re-run the report.
Detailed Profit and Loss
Please note that following the HMRC requirement to provide a tagged detailed profit and loss account you should ensure that your exported iXBRL file either contains tagged values (by inserting from report element templates), or no detailed profit and loss account values (by un-ticking the detailed profit and loss account).
FRS 101
Version 11:
  • Platform build 6.10.7454 onwards
General Points

Important information: This release is due to the FRS 101 report being tagged with the FRC FRS 101 taxonomy. Previously these reports were tagged with the old IFRS taxonomy. Please see the IFRS release details for further information on this change.

Taxonomy References
iXBRL Detailed Format 1 and Format 2 Profit and Loss Account report elements are available for use in UK FRS 101 from version 6.11 of the platform onwards. This will be included in the Report Elements Templates, UK_EU Style Elements, Specific Elements.
If you want to include the iXBRL Detailed Format 1 and Format 2 Profit and Loss Accounts elements in your report you must amend the taxonomy reference as follows:
  1. Run the FRS 101 Accounts report.
  2. Select the Report Structure tab.
  3. Right-click the top folder and select Properties. The Element Properties dialog opens.
  4. Select the XML Source tab.
  5. Amend line 5 as follows:

    6. Change:

    <xbrl-taxonomy xbrl-taxonomy-namespace="http://xbrl.frc.org.uk/FRS-101/2014-09-01" xbrl-taxonomy-href="https://xbrl.frc.org.uk/FRS-101/2014-09-01/FRS-101-2014-09-01.xsd" xbrl-entity-identifier-scheme="http://www.companieshouse.gov.uk/" xbrl-dimensions="core:RestatementsFirstTimeAdoptionDimension=core:RestatedAmount">

    To:

    <xbrl-taxonomy xbrl-taxonomy-namespace="http://www.govtalk.gov.uk/uk/fr/tax/frs-101-dpl/2015-02-14" xbrl-taxonomy-href="http://www.hmrc.gov.uk/schemas/ct/combined/2015-02-14/frs-101-dpl-2015-02-14.xsd" xbrl-entity-identifier-scheme="http://www.companieshouse.gov.uk/" xbrl-restatement-dimension="core:RestatementsFirstTimeAdoptionDimension=core:RestatedAmount">

  6. Click OK to close the dialog.
  7. Re-run the report.
Detailed Profit and Loss
Please note that following the HMRC requirement to provide a tagged detailed profit and loss account you should ensure that your exported iXBRL file either contains tagged values (by inserting from report element templates), or no detailed profit and loss account values (by un-ticking the detailed profit and loss account).
Previous Versions
Version 9:Closed
Version 7:Closed
Version 6:Closed
Version 5:Closed
Version 4:Closed
Version 3:Closed
Version 2:Closed
Version 1:Closed
Associated Topics