─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Basildon

If your company qualifies for the UK micro-entities regime and has chosen to apply it, FRS 105 Micro Entity Accounts provide the financial reporting framework you use to prepare your annual accounts. FRS 105 is the short, simplified standard built specifically for qualifying micro-entities, and it sits alongside the micro-entities regime rather than being a separate filing in its own right. Working with an experienced preparer helps ensure your FRS 105 Micro Entity Accounts reflect your actual bookkeeping and records, follow the recognition and measurement rules that apply to your circumstances, and are presented in the format expected for a micro-entity. In Basildon and across the surrounding Essex area, we support directors of small companies who want their FRS 105 financial statements prepared accurately and explained in plain English, so you understand what has been included, what disclosures are required, and what still needs to be filed separately. Eligibility is not automatic, so we start by looking at your company’s size, structure and any exclusions that may apply before confirming whether the micro-entities regime is the right fit for the year in question.

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FRS 105 Micro-Entity Accounts

(Turnover up to £100K)

£499.00

£399.00

+vat

FRS 105 accounts preparation
Accounting records review
Micro-entity eligibility review
Companies House filing where applicable
Corporation Tax support where included
Director review
FRS 105 accounting support

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Trusted by Micro-Entity Businesses Across the UK

From newly incorporated companies to established owner-managed businesses, our clients trust us to prepare their accounts accurately and handle their annual filing requirements.

      EXCELLENT  
   Based on 302 reviews 
    
 
 
 
   
 
 
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   Ayotunde Rufai 
 
 
 
 Trustindex verifies that the original source of the review is Google. Best accountants we've ever had. Umer is ace, and makes everything easy and transparent.
  
 
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 Trustindex verifies that the original source of the review is Google. I had a really positive experience with Muhammad. He was incredibly quick to action everything and made the whole process straightforward and stress-free. He took care of everything promptly and kept me informed throughout, which was greatly appreciated.

Muhammad was professional, responsive and genuinely helpful from start to finish. It was clear that he cared about providing a great service and making sure everything was handled properly. I would definitely recommend him to anyone looking for someone reliable, efficient and professional.
  
 
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   Zest For Life 
 
 
 
 Trustindex verifies that the original source of the review is Google. I worked with Accotx on a HMRC reclaim and overall, they did ultimately deliver on their promise, which I appreciate. The process did take longer than any of us expected, partly due to external delays with the tax authorities, and partly because there were some hiccups in communication and follow-up. However, despite those challenges, they stayed professional and stuck to the original agreed terms. If you’re considering using them, be prepared to stay in regular contact to keep things moving along. They are absolutely capable, have the expertise and willing to work with you, and overall  improving their services over time. I would certainly return for any future needs.
  
 
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 Trustindex verifies that the original source of the review is Google. Sterling work. Many thanks to Muhammad and the team for all their help and expertise
  
 
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   Hansen Personal Training 
 
 
 
 Trustindex verifies that the original source of the review is Google. We have been a client for years - very quick responsive and personalised service
  
 
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   Jamie Fletcher 
 
 
 
 Trustindex verifies that the original source of the review is Google. It was a pleasure working with Anum on our accounts. The whole process was swift and effortless, and it was one less thing to worry about. I'd highly recommend them.
  
 
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   Mansur Liman 
 
 
 
 Trustindex verifies that the original source of the review is Google. Accotax have been our accountants for many years now. We maintained them, because of their professionalism. In the last coiple of years, i have working with Imran, who has been very professional and helpful in guiding us through the whole process explaining and clarifying every aspect of it. Very prompt in responding to questions and patient with us even when we seem to be slow. I really enjoy working with him. Thank you
  
 
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 Trustindex verifies that the original source of the review is Google. I highly recommend Imran to anyone looking for a reliable and knowledgeable accountant. He helped me sort out a very complicated backlog of accounts and prepared my overdue tax returns with professionalism and attention to detail.

Throughout the process, he was incredibly patient, took the time to answer all of my questions, and explained everything clearly. He guided me through each step and helped rectify issues that had built up over time, making what felt like an overwhelming situation much more manageable.

I'm very pleased with the service I've received and truly appreciate his support. If you need help with your accounts or taxes, I would highly recommend Imran.
  
 
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 Trustindex verifies that the original source of the review is Google. I had a positive experience with Accotax. The work was completed promptly, my tax return was successfully filed, and I received a refund of overpaid tax. I found the cooperation efficient and helpful. Special thanks to Muhammad Saifullah for his assistance.
  
 
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   Ebba Qureshi 
 
 
 
 Trustindex verifies that the original source of the review is Google. Fabulous team at ACCOTAX - very efficient and good response time . Honest and professional with their work. I would highly recommend them even if you’re a young start up - or a large business they have it covered .

─── FRS 105 EXPLAINED

FRS 105 Explained: The Micro-Entities Reporting Standard

FRS 105 is the UK financial reporting standard written for micro-entities. In simple terms, it is the rulebook a qualifying company follows when it prepares its annual accounts under the micro-entities regime. The micro-entities regime is a set of legal rules that lets the smallest companies prepare much shorter accounts than those required under larger-company standards, and FRS 105 applies when a qualifying company chooses to use that regime. Under FRS 105, the accounts are built around a simplified balance sheet, a simplified profit and loss account and a small number of notes, with far less disclosure than you would see under FRS 102. A key feature is that assets and liabilities are generally measured on a historical cost basis, and certain adjustments and fair value movements are not recognised in the same way. That keeps the accounts simpler, but it also means the figures can differ from what you might expect under another framework, so it is worth understanding the trade-off before you decide. For directors in Basildon running a small limited company, FRS 105 Micro Entity Accounts can mean a cleaner, shorter set of financial statements, provided the company genuinely qualifies and the regime is the right choice for its circumstances.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it. Qualifying is a two-part test: your company must fall within the size limits, and it must not be caught by any of the rules or exclusions that take a company outside the regime. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the 3 applicable size conditions: turnover of no more than £1 million, a balance sheet total of no more than £500,000, and an average of no more than 10 employees. Meeting those figures does not, on its own, always guarantee eligibility — the conditions are applied in line with the relevant rules and there are circumstances in which a company is excluded regardless of size, so the specific facts matter. If your Basildon-based company does qualify, the decision to use the micro-entities regime remains yours, and FRS 105 is the framework that applies once that choice is made. If you do not qualify, or you would prefer fuller reporting, another standard such as FRS 102 may be more appropriate.

A company generally needs to meet at least 2 of these 3 conditions.

Business Turnover

Annual Turnover of £1 Million or less. (£632,000 previously)

Balance Sheet

Balance sheet total of £500,000 or less.(£316,000 previously)

Company Size

On an average 10 or less employees (10 or less previously)

─── What We Review

Everything Your Micro-Entity Company Is Required to Get Right

Most compliance problems are not deliberate. They come from a missed deadline, an accounts template that no longer matches FRS 105, or dividends taken without the paperwork to support them. Our review covers each area in turn and reports back in plain English.

FRS 105 Balance Sheet

A statutory balance sheet prepared to the FRS 105 format, using the reduced disclosure the micro-entities regime allows.

Profit & Loss Account

A profit and loss account prepared for your own records and for your Corporation Tax computation, without public filing.

Required Notes & Disclosures

Preparation of the notes and disclosures required for the company's accounts under the applicable reporting requirements.

Corporation Tax Support

Separate Corporation Tax support can be provided where included in the agreed service. The Corporation Tax calculation is governed by tax rules rather than FRS 105.

Companies House Filing

Your FRS 105 accounts filed with Companies House in the correct format, before your accounts filing deadline.

Director Copy Pack

A full signed copy of your accounts and tax return, ready for your bank, mortgage lender or accountant records.

─── How It Works

How Our FRS 105 Preparation Process Works

Share Your Records

Send your bank statements, sales and purchase records, expenses and payroll details through our secure digital platform.

We Prepare Your FRS 105 Accounts

Our accountants confirm you qualify for the micro-entities regime, then prepare your accounts and CT600 from your records.

Review & Approve

We send draft accounts with clear explanations of the figures, and adjust anything before anything is submitted.

We File Where Required

Once approved, we can assist with the relevant Companies House filing and any separately agreed tax submission.

─── WHY CHOOSE US

Why Choose Our FRS 105 Accountants?

We keep micro-entity accounts straightforward, transparent and easy to manage for busy company directors.

FRS 105 Accounts Support

The micro-entities regime is all we do, so your accounts are prepared to the right standard first time.

Paperless Onboarding

Get set up in minutes with a fully digital, secure process — no printing, posting or office visits.

Deadline Management

We track your Companies House and HMRC deadlines and prompt you early so late filing penalties are avoided.

Clear, Transparent Pricing

One transparent fixed fee covers preparation, the tax return and both filings. No hourly billing.

─── WHO WE HELP

FRS 105 Support for Micro-Entities Across the UK

From one-director businesses and freelancers to startups, consultants and online businesses that qualify for the micro-entities regime.

One-Director Companies

Straightforward FRS 105 accounts and Corporation Tax filing for owner-managed limited companies.

Freelancers & Contractors

Accounts and compliance support for contractors trading through a qualifying limited company.

Startups & Small Companies

Practical support for newly incorporated companies filing their first set of micro-entity accounts.

Dormant & Low-Activity Companies

Dormant company accounts and FRS 105 accounts for LLPs that meet the micro-entity thresholds.

Professionally Prepared FRS 105 Accounts and Accurate Financial Reporting

Good FRS 105 Micro Entity Accounts start with good records. We work from your bookkeeping, bank statements, invoices, payroll information and any other supporting records you hold, then prepare a set of financial statements that reflects those records and the reporting requirements that apply to your company. That includes building the balance sheet and profit and loss account in the micro-entity format, preparing the notes that FRS 105 requires, and making sure the figures tie back to the underlying information you have provided. It is important to be clear about what sits where: the preparation of your FRS 105 financial statements and the filing of those accounts with Companies House are one process, while your Corporation Tax Return (CT600) is a separate submission made to HMRC under a different set of rules. Your Confirmation Statement is separate again. We can help you understand how these obligations fit together for your year end, and we will flag anything in your records that needs clarifying before the accounts are finalised. What we cannot do is guarantee a particular outcome or that a filing will be accepted without question, because that depends on the accuracy of the information provided and on the relevant authorities’ own processes.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Basildon

If you are a director of a small company in Basildon and want your FRS 105 Micro Entity Accounts handled properly, the best next step is a straightforward conversation about your circumstances. Tell us about your company, your accounting period, your bookkeeping arrangements and how you currently deal with your year-end accounts and filings. It also helps to share your latest trial balance or management figures, details of any assets and liabilities, and any previous accounts so we can see the position you are starting from. From there we can talk through whether the micro-entities regime looks suitable for your company, what preparing FRS 105 financial statements involves, and how that fits with your wider obligations such as your Corporation Tax Return and Confirmation Statement. There is no obligation, and no pressure — just a clear discussion about what you need and how we can help.

─── FAQs

FRS 105 Accounts Preparation FAQs

Still unsure where you stand? Reach out to our UK team at info@microentityaccounts.co.uk and we will review your filing history with you.

What is FRS 105?

FRS 105 is the UK financial reporting standard for micro-entities. It sets out how a qualifying company that has chosen to apply the micro-entities regime prepares its annual accounts, using a simplified balance sheet, a simplified profit and loss account and a limited set of notes. It is deliberately shorter and less disclosure-heavy than standards such as FRS 102, and it generally relies on historical cost measurement rather than fair value adjustments.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a mandatory one. A company that meets the size conditions may qualify for it, but the directors still choose whether to apply it. If they do, FRS 105 is the standard that applies. If they prefer more detailed reporting, they can use a different framework such as FRS 102 instead.

What are the current micro-entity eligibility criteria?

For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the 3 applicable size conditions: turnover of no more than £1 million, a balance sheet total of no more than £500,000, and an average of no more than 10 employees. Meeting those size conditions is not the whole story — other eligibility rules and exclusions can apply, so the position should always be checked for the specific company and period.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes of company. FRS 102 is the main standard used by larger small companies and others, and it requires more disclosure and allows or requires more complex measurement, including fair value in certain cases. FRS 105 is the micro-entities standard: it is shorter, its disclosure requirements are much reduced, and it generally keeps measurement on a simpler historical cost basis.

Do FRS 105 accounts need to be filed with Companies House?

If your company prepares its annual accounts under the micro-entities regime, those accounts are the ones that go to Companies House as your statutory accounts, subject to the filing requirements that apply to your company. Filing the accounts is a separate step from submitting a Corporation Tax Return (CT600) to HMRC, which is calculated under tax rules rather than the accounting framework.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use the micro-entities regime, but it is not automatic. In a first accounting period the size conditions are assessed in line with the relevant rules for new companies, and other eligibility criteria and exclusions still need to be considered. It is worth reviewing the position before you commit to a framework for your first set of accounts.

What information is needed to prepare FRS 105 accounts?

Typically you would provide your bookkeeping records or a trial balance for the period, bank statements, sales and purchase records, payroll information, details of fixed assets and any loans or other liabilities, plus the previous year's accounts if there are any. Anything unusual, such as a new loan, an asset purchase or a change in share capital, should be flagged so it can be treated correctly.

What changes are coming to micro-entity accounts filing?

Company filing requirements do evolve, and the way accounts are submitted is moving increasingly towards digital, software-based filing. The exact impact depends on your company's circumstances and the framework it uses. Because the detail matters, it is worth confirming the current position for your year end with your accountant rather than relying on older guidance.