IFRS Financial Statements App | Trust entity

Published: 27/05/2026

Trust entity

What has been implemented in the IFRS Financial Statements App with regards to the Trust entity?

Answer:

Selecting Trust as the entity type in 101 – Engagement Setup automatically adapts statements, notes, and terminology throughout the engagement. No manual intervention is required.

Area	What changes
Statement of changes in equity	Trust capital column and Allocation to beneficiaries rows; company-only columns hidden.
Statement of cash flows	Distinct lines for distributions to beneficiaries and capital introduced; improved reconciliations.
Trustee's report	The same underlying Director's and Trustee’s report structure is used for both entity types (company and trust). The report title and included sections are dynamically controlled by the entity type selection. Only the relevant sections for the selected entity type will appear; the other sections are hidden.
Notes	Trust-specific notes appear automatically when entity type is Trust and relevant balances exist.

1. Trust and Company groupings

Certain groupings are specific to either Trust or Company entities. When Trust is selected, only trust-relevant groupings are available; company-specific groupings are hidden. This filtering is automatic and requires no manual configuration.

Area	What changes
Trust groupings	806 - Trust capital 810-500 - Allocation to beneficiaries
Company groupings (hidden for trusts)	805 - Share capital 810-150 - Ordinary dividends 810-155 - Preference dividends 830 - Non-controlling interest Related NCI, OCI, and SCE groupings

2. Statement changes

Area	What changes
Statement of changes in equity	Dedicated trust capital column and allocation to beneficiaries rows. Company-only columns (share capital, NCI) are hidden. Headings updated to trust terminology throughout.
Statement of cash flows	Trust-specific lines for distributions to beneficiaries and capital introduced appear when relevant balances exist. Reconciliations between the cash flow statement and workings improved for trust engagements.
Trustee's report	The same underlying Director's and Trustee’s report structure is used for both entity types (company and trust). The report title and included sections are dynamically controlled by the entity type selection. Only the relevant sections for the selected entity type will appear; the other sections are hidden.

3. Notes to the financial statements

Trust-specific notes appear automatically when the entity type is Trust and the relevant groupings have mapped balances. Company-only notes are hidden for trust entities and vice versa.

Note area	Behaviour
Trust capital	Appears automatically when entity type is Trust and grouping 806 has mapped balances.
Allocation to beneficiaries	Appears automatically when grouping 810-500 has mapped balances.
All other notes	Trust-only notes are hidden for company entities; company-only notes are hidden for trust entities. Visibility is driven by entity type and balance mapping — no manual steps required.

4. Trustee's report vs Director's report

The same underlying report structure is used for both entity types. The report title and included sections are controlled automatically by the entity type selection, thus no manual editing is required.

Entity type	Report title	Sections included
Trust	Trustee's report	The trust · Beneficiaries · Distribution to beneficiaries · Trustee's benefits · Trustee details · Trust liabilities · Right of indemnity
Company	Director's report	Incorporation · Share capital · Share-based payments · Share buy backs / Treasury shares · Dividends · Director details · Directors' interest in shares

5. Recommended workflow

Step	Action
1. Set entity type from the start	Select Trust in Document 101 at the start of the engagement. Changing entity type after significant work may require regenerating statements and reviewing note selections.
2. Map balances	Map trust capital to grouping 806 and allocations to beneficiaries to grouping 810-500. Correct mapping is required for trust-specific statements and notes to appear.
3. Review statements	Check the SCE for trust capital column and allocation rows. Verify cash flow lines for distributions and capital introduced. Confirm the Trustee's Report replaces the Director's Report.

6. Limitations

Trust-specific features are only available when entity type is set to Trust. Changing entity type after significant work may require regenerating statements and reviewing note selections.
There is no automatic conversion between company and trust layouts. If converting an existing engagement, start with the correct entity type and import balances as needed. Complex trust arrangements may still require manual review and custom disclosures.

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