The standard list covers most disclosures, but not every situation. The Free Text note lets you add a note with a heading and wording of your choice, for example to explain that comparative figures have been reclassified.
What this note shows
Whatever you write. Common uses include:
- Comparative figures reclassified or restated.
- Prior period adjustments, explained in words.
- Information about the company’s parent or group not covered by the Controlling party note.
- A matter the directors want to draw to readers’ attention.
Before you use a Free Text slot, check whether a dedicated note already exists. There are standard notes for events after the reporting date, related parties, off-balance sheet arrangements, commitments and more (see the full list). A dedicated note puts the disclosure in the expected place with the right tagging in the electronic (iXBRL) accounts.
FRS 102 Section 1A periods have four Free Text slots, so you can add up to four custom notes. FRS 105 periods have one, the fourth micro-entity note, printed beneath the balance sheet with the others.
Where the content comes from
Everything is typed in. Nothing is read from the trial balance, and there are no wording templates. If you quote figures, check they agree to the balance sheet and other notes.
Completing the note in Tax Optimiser
- Go to View Accounts > Notes and select a Free Text section. Type "free" in Search notes… to find them quickly.
- In Title, replace "Free Text Title" with the heading you want printed, for example "Comparative figures". If you leave the default, "Free Text Title" will print as the heading.
- Type the note in Body.
- Set Show this note in the accounts to Yes.
- Click Save changes.
Here is the demo company’s slot, with the heading Comparative figures and its wording. Once a slot has a heading, the Notes list shows it under that heading rather than “Free Text”:
An unused slot is switched off and keeps the default title Free Text Title, as in the FRS 105 period below. Change the title before switching a slot on, or that default prints as the heading.
The body prints as plain text, so keep it to short paragraphs. Formatting such as bold or tables is not carried through.
How it appears in the accounts
Your title becomes the note heading and the body prints beneath it. Free Text notes print in their place in the list (after Inventories and before Off-balance sheet arrangements) and are numbered with the rest. In the demo company a Free Text note headed "Comparative figures" prints as note 28:
In FRS 105 accounts, a Free Text note switched on prints beneath the balance sheet after the Average number of employees note.
Frequently asked questions
How do I add an extra note to my company accounts?
Use a Free Text slot: go to View Accounts > Notes, select Free Text, enter a title and body, set Show this note in the accounts to Yes and save.
Why does my note say "Free Text Title"?
That is the default title. Replace it in the Title box with your own heading and save.
How many custom notes can I add?
Four in FRS 102 Section 1A accounts and one in FRS 105 micro-entity accounts. If you need more, combine related points under one heading.
Can micro-entity accounts include extra notes?
Yes. FRS 105 accounts have one Free Text slot, which prints beneath the balance sheet with the other micro-entity notes.