That Retail Property Guy
Welcome to That Retail Property Guy, the podcast where retail property expert Gary Marshall champions retail tenants and empowers professionals across the industry. With a career spanning decades, a dozen retailers, and millions in recovered losses for leading UK retailers, Gary shares his unparalleled knowledge to help retail tenants protect their rights, navigate leases, and maximise opportunities often overlooked by landlords, estates and accounts teams.
This podcast is your go-to resource for unlocking the mysteries of retail property. Whether you're an experienced professional, a mid-sized chain, or someone just starting in the industry, Gary’s insights will help you build confidence, avoid pitfalls, and thrive in this complex field.
Through practical advice, real-world examples, and interviews with industry leaders, That Retail Property Guy is dedicated to fostering development and knowledge-sharing for the next generation of retail property experts.
Listen weekly and discover how small insights can lead to big wins for retail tenants everywhere. Start your journey to retail property mastery today!
That Retail Property Guy
FRED82, IFRS16 & FRS102: How New Regulations on Lease Reporting Impact Retailers' Balance Sheets
The Major Acounting Changes Coming with FRS 102 and Their Impact on Retail Leases
Host Gary Marshall delves into the intersection of estate management and accounts payable, focusing on the impending changes to the UK's Financial Reporting Standard with FRS 102. Gary introduces 'FRED', the Financial Reporting Exposure Draft, and outlines the proposed alignment of FRS 102 with the international IFRS 16 standard. These changes will require most lease obligations to be accounted for on the balance sheet starting January 2026. The episode covers the shift from old to new accounting methodologies, the implications for retailers with leased properties, and the importance of preparing for the significant impact on financial reporting.
00:00 Introduction
00:24 Meet Fred: Financial Reporting Exposure Draft
00:49 Understanding FRS 102 and GAAP
01:59 Impact of IFRS 16 on Big Corporations
03:00 Upcoming Changes to FRS 102
04:09 Implications for Retailers and Property Leases
04.36 Tweedy's Aircraft Question
07:18 Calculating Lease Liabilities
09:01 Effects on Retailers' Balance Sheets
10:46 Preparing for the New Standards
16:10 Conclusion and Final Thoughts
Other useful episodes:
The Landlord and Tenant Act 1954
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