1.3 As stated in FRS 100, an entity

1.3 As stated in FRS 100, an entity that is required by the IAS Regulation (or other
legislation or regulation) to prepare consolidated financial statements in accordance
with EU-adopted IFRS must do so. The individual financial statements of such an
entity, or the individual financial statements or consolidated financial statements of any
other entity within the scope of FRS 100, must be prepared in accordance with the
following requirements:
(a) If the financial statements are those of an entity that is eligible to apply the
FRSSE4
, they may be prepared in accordance with that standard.
(b) If the financial statements are those of an entity that is not eligible to apply the
FRSSE, or of an entity that is eligible to apply the FRSSE but chooses not to do
so, they must5 be prepared in accordance with this FRS, EU-adopted IFRS or
FRS 1016
.
1.4 An entity whose ordinary shares or pot