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On the balance sheet, or exempt?
The three exemptions a lessee can claim, and the checks Murgese makes when one is.
Under FRS 102 as amended, for periods beginning on or after 1 January 2026, most leases go on the balance sheet. A short-term lease (twelve months or less, with no purchase option) and a lease of a low-value asset can be kept off it, and an operating lease already running at the date of initial application that ends within twelve months of it can be treated as short-term. FRS 105 was not changed.
The arithmetic, not advice: your own circumstances come first. Nothing you type here leaves your browser, and nothing is stored. They are the checks Murgese makes when an exemption is claimed on its lease register.
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What Murgese does with this
Murgese keeps a lease register, works out the right of use asset and the lease liability, posts the unwinding of the discount each period and puts the disclosures in the accounts.
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