// FRS 102 Section 20 Compliance
FRS 102 Lease Accounting
Software for UK SMEs
Automated. Accurate. Audit-Ready.
Transition to FRS 102 Section 20 in hours, not weeks. Upload your lease documents and let AI extract the data. We handle the calculations, journal entries, and disclosures – your auditors get a complete trail.
No credit card required · 14-day free trial · Cancel anytime
Every UK & Ireland company reporting under FRS 102 needs Section 20 lease compliance.
Enterprise-grade accuracy. SME-friendly pricing. From £200/year + VAT.
What keeps Finance Directors awake
The regulatory landscape is a minefield.
We are the map.
About Us
Built by practitioners, for practitioners
Denis Plakhov
Founder & Technical Lead
UK SMEs shouldn't need enterprise budgets to get audit-proof lease accounting. After 25 years delivering compliance systems to clients like Shell and BP, Denis founded Lease102 to bring that same rigour to the mid-market – at a fraction of the cost.
- SAP Certified Professional – S/4HANA Financials
- Enterprise lease management at Accenture & IBM
- 25+ years across 6 countries
- Deep UK GAAP & audit compliance expertise
Behind Lease102 is a team of four: Denis, Alex, Alexis and Richard, with more than 100 years' combined experience across enterprise finance systems at Accenture and IBM, management consultancy at Challenger, Gartner and Frost & Sullivan, and full-stack infrastructure expertise and senior solutions architecture.
Company facts
Argonavis AI Limited, registered in England and Wales, company no. 10499035, incorporated 2016. ICO-registered (ZC102898). Insured with Hiscox: professional indemnity £2m, cyber £250k, public liability £1m. Read our trust and continuity commitments.
Trusted by finance teams in property, energy, manufacturing, and professional services
Lease102 isn't a generic platform with FRS 102 bolted on. It's purpose-built for UK GAAP – native Section 20 logic, proper OBR calculations, and the nuances that matter when your auditor reviews your lease accounting.
Being a focused team means you'll never submit a support ticket into a void. Questions go directly to people who understand lease accounting – not first-line agents reading from scripts.
25+ years
Enterprise Finance & Leasing
SAP Finance, Real Estate & Lease Management implementations for enterprise and mid-market clients worldwide
SAP to Sage
Your Systems, Understood
Hands-on implementation across SAP, Oracle NetSuite, Sage, D365 Business Central, MRI Software and Nakisa – from FTSE 100 to growing UK businesses
FRS 102
Native UK GAAP
Purpose-built for Section 20 – not an IFRS 16 retrofit with a localisation layer
UK & Ireland
London & Dublin
Local presence, local compliance knowledge, local support hours
Who We Serve
Built for UK businesses like yours
Retail
Multi-location shops, offices & warehouses
Property
Commercial landlords, REITs
Manufacturing
Equipment & vehicle lease portfolios
Professional Services
Law firms, consultancies
Hospitality
Hotels, restaurants, leisure
Accounting Firms
One Lease102 login across every client portfolio. Native FRS 102 Section 20, per-active-lease pricing, monthly billing, no contracts.
Practice pricingNative FRS 102 Logic
Built for UK GAAP. Not retrofitted from IFRS 16.
Global tools put you through IFRS 16 complexity. Lease102 is built on the FRS 102 simplifications: the obtainable borrowing rate, the short-term and low-value exemptions, and a single discount rate across a portfolio of similar leases.
OBR Calculation – FRS 102.20.49
OBR = SONIA Reference Rate + Credit Spread
Live Bank of England SONIA and ECB €STR rates, updated daily. Credit spread guidance by entity size. The discount rate most UK SMEs need – calculated automatically.
AI Document Extraction
Upload your lease agreement (PDF or scan). Our AI extracts commencement date, term, payments, escalations, and more.
Every extracted field lands in a draft you review and approve before any calculation runs. Non-lease contracts (services, licences) can be kept visible alongside your leases.
Close Assistant
One click checks your month-end: it reconciles the journals expected for the period against what you have actually posted, so a missing or late entry is caught on close day rather than at audit. No ERP required. Post from Lease102's export and mark them done, or let a connected ERP tick them off automatically. And you can ask the built-in AI assistant your own numbers in plain English: gearing impact, maturity, roll-forwards, or the impact of a lease you have not signed yet.
It reads and drafts; you review and post. On the free trial and Professional and above.
OBR Calculation with Live Rates
Bank of England SONIA and ECB €STR updated daily. Automate your Obtainable Borrowing Rate, the simpler of the two alternatives FRS 102.20.49 allows where the rate implicit in the lease cannot be readily determined.
Every rate carries the day it belongs to: a lease already running at your changeover date takes the rate for that date, one starting later takes the rate for its own commencement. Where the governing day's rate is not published yet, the lease is priced provisionally and confirmed once it is.
FRS 102 Calculations
Lease liability, ROU asset, dilapidation provisions, rent reviews, and amortisation schedules. Every formula references FRS 102 paragraphs.
Handles the dual-standard interaction Excel misses.
7-Year Audit Trail
Full version history of every lease modification, remeasurement, and calculation change. Companies Act compliant retention.
Complete audit documentation. Your auditors will thank you.
Team Collaboration
Invite your finance team with role-based permissions. Control who can view, edit, or approve lease calculations.
Owner, Accountant, Viewer roles.
Lease Modifications
Handle rent reviews, term extensions, and payment changes. Automatic remeasurement per FRS 102.20.70-20.73.
Original vs revised rate – we apply the correct one.
Expiration Alerts
Automatic email notifications for expiring leases and rate changes. Configure daily, weekly, or monthly digests.
Never miss a renewal deadline.
Multi-Currency Support
GBP, EUR, and USD. Manage lease portfolios denominated in multiple currencies.
Professional tier and above.
ERP Integration
Connect to Xero, Sage, or Dynamics 365. Auto-post FRS 102 journal entries directly to your general ledger – no manual re-keying.
Seamless ledger sync. Eliminate manual journals.
FRS 102 Transition, and What It Does to Your Numbers
Bring existing operating leases onto the balance sheet for the January 2026 deadline. Bulk-calculate opening balances across many leases in one click, each at its own discount rate, with prepaid and accrued rent read from the lease documents. Then see exactly how adoption changes your profit and loss, balance sheet and debt covenants.
Auditor-ready Transition Memo (PDF) per lease, plus an aggregate Transition Schedule (PDF and CSV) for the audit file. Modified retrospective per FRS 102.1.51.
Disclosure Notes, Ready to File
The lease disclosures your accounts need, generated from the same figures that produced your journals: interest expense, total cash outflow, and which discount rate types you used and in what proportion.
Where you have used the short-term or low-value exemptions, the expense and commitment figures that go with them are produced too. Each note states on its face what it excludes.
Right-of-Use Assets Note
The statutory note for your accounts: cost, accumulated depreciation and net book value, laid out the way a UK filer expects to see it.
PDF for the audit file, Excel when your accounts production software wants the numbers.
UK Quarter Day Rents
English, Scottish and Irish quarter day calendars, priced properly. A lease that starts mid-quarter is apportioned rather than charged a full period, and so is the final broken period.
Convert a lease onto a quarter day calendar from the lease form.
Reduced, Stepped and Rising Rents
Rent that changes over the term is priced as the lease actually states it: rent-free openings, a reduced rate for a period, stepped increases, and pre-agreed fixed uplifts worked out from the clause itself.
A reduced rate is held as a rate over a span of dates, not treated as though the rent were free.
Monthly Charges for Quarterly Leases
One setting spreads a quarterly, half-yearly or annual lease across every month, so your management accounts do not lurch every third month.
It allocates the charge, it never re-prices the lease. Off by default for every organisation.
Cost Centres and Nominal Codes
Split one lease across several cost centres, with allocations that change on the dates you set. Map each to the nominal codes your accounting system expects.
Nominal codes belong to the company they were set up for, so a group with several entities does not post to the wrong chart.
Why Lease102
Compare your options.
Spreadsheets do not scale, and multi-standard tools cover several standards rather than FRS 102 alone. See how Lease102 compares.
| Feature | Spreadsheets | Multi-standard lease software | Lease102 |
|---|---|---|---|
| FRS 102 specific calculations | Manual | ||
| Live SONIA/€STR rates | |||
| OBR calculation support | |||
| Audit trail | |||
| AI document extraction | |||
| FRS 102 disclosure reports | |||
| Modification tracking | Manual | ||
| Termination & impairment | Manual | ||
| Expiration alerts | |||
| Journal entry generation | Manual | ||
| One-click month-end close checks (no ERP required) | |||
| AI answers from your own figures | |||
| UK/Ireland optimised | |||
| Data hosted in UK/EU | |||
| Data abstraction (25 leases) | Keyed by hand | Keyed by hand | AI extraction – included |
| Software (25 leases/year) | "Free" | Mostly quote-only; from £2,700 published | £490 + VAT |
Competitor pricing and capabilities are taken from publicly available vendor information as at May 2026. Only one competitor publishes SME pricing; the rest quote on request.
Security & Compliance
Enterprise-grade security.
No compromises.
Your lease data is sensitive. We treat it that way. Bank-level encryption, complete tenant isolation, and GDPR compliance as standard.
AES-256 Encryption
Bank-level encryption for all data at rest
TLS 1.3
Latest encryption protocol for data in transit
Row-Level Security
PostgreSQL RLS ensures complete tenant isolation
UK/EU Data Centres
Your data never leaves UK/EU jurisdiction
GDPR Compliant
Full compliance with UK & EU data protection
High Availability
99.9% uptime target on Enterprise tier
Infrastructure hosted on Vercel and Neon PostgreSQL. SOC 2 Type II compliant infrastructure partners.
“Lease102 is an exciting development in the field. Its entity extraction capacity and ability to scale give users the power to execute with speed, certainty, and confidence.”
The standard is mandatory. Are you compliant?
FRS 102 Section 20 is now in effect. Get compliant before your next audit – without the spreadsheet chaos.
Upload Your Lease Schedule
Import from Excel, CSV, or upload PDFs for AI extraction. We support batch imports for larger portfolios.
Calculate Opening Balances
We calculate your opening ROU assets and lease liabilities using the modified retrospective approach.
Generate Transition Adjustments
Get your cumulative catch-up adjustment to retained earnings – ready for your accountants.
Ongoing Compliance
Monthly journal entries, amortisation schedules, and disclosure notes – all automated.
Transition support included
- Opening balance calculations per FRS 102 1.51
- Cumulative adjustment to retained earnings
- No comparative period restatement required
- Full audit documentation for Day 1
- Professional plan: 1-hour guided onboarding
- Enterprise: Dedicated migration support
The standard is now in effect.
Get compliant before your next audit.
Would you rather we did the transition for you? See the fixed-fee Transition Service.
Plans & Pricing
Enterprise-grade compliance.
SME-friendly pricing.
Every formula references FRS 102. Every calculation is auditable. Every journal entry is defensible. From £200/year + VAT.
14-day free trial with Professional features
Starter
For single-location businesses
- 5 active leases
- 2 team members
- 5 AI extractions/month
- Email support
Growth
For growing businesses
Everything in Starter, plus:
- 25 active leases
- 5 team members
- 25 AI extractions/month
- Batch import
Need more? Add £100/year + VAT per 5 extra leases. No tier jump. Your monthly AI extraction allowance remains the same.
Professional
For established businesses
Everything in Growth, plus:
- 75 active leases
- 10 team members
- 100 AI extractions/month
- Multi-currency support
- FRS 102 transition (modified retrospective)
- Bulk Calculate for many leases at once
- Auditor-ready Transition Memo + Schedule (PDF/CSV)
- Visual source matching on AI extraction
- Close Assistant: one-click close checks and live AI portfolio answers
Need more? Add £100/year + VAT per 5 extra leases. No tier jump. Your monthly AI extraction allowance remains the same.
No credit card required · 14-day free trial · Cancel anytime
All plans include: FRS 102 calculations · Modifications & terminations · 7-year audit trail · CSV/XLSX export · ERP integrations · Email & chat support · Live SONIA & €STR rates
Your first transition can be handled for you at a published fixed fee, separate from your subscription. See the Transition Service.
Prices exclude VAT. Where applicable, VAT is added at checkout at the prevailing rate (currently 20% in the UK). Lease102 is supplied to businesses only.
FAQ
Questions? We have answers.
Almost certainly, if you report under FRS 102 and your accounting period begins on or after 1 January 2026. Most leases you hold as a lessee now go on the balance sheet as a right-of-use asset and a matching lease liability, rather than sitting in the notes as an operating lease commitment. Short-term and low-value leases can stay off it. Micro-entities on FRS 105 and groups already on IFRS 16 are not affected.
Still have questions? Get in touch