Statutory accounts note
The lease accounting disclosure note prepared for inclusion in the statutory accounts.
Definition
The statutory accounts note for leases brings together all the required disclosures in one place: accounting policy, key judgements, ROU asset movement by asset class, lease liability movement, current/non-current split, P&L charges, maturity analysis, cash flow disclosure, and any transition disclosures required under FRS 102.
Why it matters
The statutory accounts note is the primary output of the lease accounting process for financial reporting purposes. It must be complete, consistent with the underlying ledger balances, and able to withstand audit review.
In AuditLease
AuditLease produces a complete statutory accounts note — including all required tables, accounting policy wording, and key judgements — ready to paste or export into the accounts.
Related terms
Put this into practice with AuditLease
AuditLease handles IFRS 16 and FRS 102 lease calculations, statutory note generation, journal entries, and audit evidence — so your team spends less time on spreadsheets and more time on judgements.
This definition is for general information only and is not accounting or legal advice. Definitions are based on IFRS 16, FRS 102, and associated guidance published by the IFRS Foundation and the Financial Reporting Council. Users should refer to the applicable accounting standards and their professional advisers for judgement-specific matters.