Transition Memo (PDF)
Download a one-page per-lease audit memo summarising the FRS 102 transition opening balances, ready to drop into your audit file.
What It Contains
The memo is a single A4 page. It carries the Lease102 logo, the generation date, your company name and Companies House number, and the lease reference, lessor, and asset. Six numbered sections follow: Lease Summary (commencement, end, periodic payment, frequency); Transition Methodology (FRS 102 Section 20 Appendix C paragraphs C5 to C8 restated); Inputs Used (transition date, discount rate with type, remaining term in months, undiscounted remaining payments, prepaid and accrued rent); Opening Balances (lease liability, right-of-use asset, retained earnings adjustment); Liability Split (current portion within 12 months, non-current); and Year 1 Profit & Loss Impact (interest, depreciation, and the prior SSAP 21 annual rent expense for comparison).
Downloading The Memo
On the Transition screen, each Transitioned lease row has a Memo button next to Recalc. Click it to download the PDF. The file name is transition_memo_<contract reference>.pdf. The button is in-flight aware and shows a spinner during the download.
Auditor Cross-Checks
The memo is designed so an auditor can verify the present-value working without opening the system. The Inputs section gives the remaining term and the undiscounted total of future payments. The Opening Balances section reconciles the lease liability and right-of-use asset via the retained earnings adjustment. The signoff block at the bottom is for the preparer and reviewer signatures.
FRS 102 Reference: FRS 102.20.27, 20.51-52, 20.C5-C8
When To Regenerate
Recalculating a lease (via Recalc) updates the underlying opening balances. The next Memo download reflects the new figures. The PDF is rendered on demand, so there is nothing to refresh manually.