What is Lease102?

Lease102 is a cloud-based platform for FRS 102 Section 20 lease accounting compliance, designed specifically for UK and Ireland SMEs. We automate the complex calculations required to bring operating leases onto your balance sheet.

Why Lease102?

From January 2026, all UK companies applying FRS 102 must recognise operating leases on their balance sheet. This affects over 300,000 UK and Ireland businesses. Lease102 makes compliance simple, accurate, and affordable.

Compliance Deadline

FRS 102 Section 20 is mandatory for accounting periods beginning on or after 1 January 2026. If your year-end is 31 December, your first compliant accounts will be for the year ending 31 December 2026.

Key Features

Lease102 provides everything you need for lease accounting compliance:

AI Document Extraction

Upload your lease PDFs and let our AI extract the key terms automatically. 95%+ accuracy on standard UK lease formats.

Live Reference Rates

Real-time SONIA (UK) and €STR (Ireland) rates for OBR (Obtainable Borrowing Rate) calculations.

FRS 102 Calculations

Present value, amortization schedules, and journal entries - all calculated per the standard with full audit trail.

7-Year Audit Trail

Every change is tracked and retained for Companies Act compliance. Your auditors will thank you.

Example

Here's what Lease102 calculates for a typical office lease:

Sample Office Lease

Lease Details: Monthly payment: £2,000 Term: 60 months (5 years) Discount rate: 6.25% (OBR) Lease102 Calculates: Initial Liability: £101,847.23 ROU Asset: £101,847.23 Monthly Interest: ~£530 (decreasing) Monthly Depreciation: £1,697.45

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