─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Chalfont

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies when a qualifying company chooses to use the UK micro-entities regime. FRS 105 sits alongside the micro-entities regime rather than replacing it: the regime determines whether a company may report as a micro-entity, and FRS 105 sets out how the financial statements are then prepared. If your company is based in Chalfont and you are weighing up whether the micro-entities regime suits your circumstances, professional preparation can help you apply the framework appropriately — from how transactions are recognised and measured to the disclosures, or limited disclosures, that are included. It also helps to have someone review your records, check that the accounting policies used are consistent with FRS 105, and make sure the figures in your financial statements line up with the information you report elsewhere. Eligibility is not automatic and depends on your company’s size and circumstances, so the starting point is always a proper look at your position before any framework is chosen.

🔥 SAVE £100.00

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

Find Your Company

Search for your company to continue with the accounting services

Start typing to search for companies...

Results

Years filing UK company accounts

0 +

Micro entity accounts submitted

0 +

Verified Google reviews

0 +

Typical Filing Turnaround

0 Days

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 
    
 
 
 
   
 
 
       Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   Sofia 
 
 
 
 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.
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   Pete Wrist 
 
 
 
 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
  
 
      Posted on Google  
   
   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
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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
  
 
      Posted on Google  
   
   Muna Mohamoud 
 
 
 
 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.
  
 
      Posted on Google  
   
   Sergey M 
 
 
 
 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.
  
 
      Posted on Google  
   
   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 Reporting Framework for Qualifying Micro-Entities

FRS 105 is the UK financial reporting standard designed for companies that qualify for, and choose to apply, the micro-entities regime. In simple terms, it is a simplified accounting framework. Instead of the fuller measurement and disclosure requirements found in other standards, FRS 105 allows eligible companies to prepare financial statements on a more straightforward basis, with fewer notes and a simpler approach to measuring assets and liabilities. That can make the annual accounts process lighter and easier to follow for a small owner-managed business. Two things are worth keeping separate in your mind. The first is eligibility — whether your company meets the size conditions and any other rules for the micro-entities regime. The second is your choice — the regime is an available accounting framework, not something you are obliged to use, and FRS 105 applies when that regime is chosen. For directors in Chalfont running a small company, the practical benefit is a set of accounts that reflects the business without unnecessary complexity, while still being prepared on a consistent and properly documented basis.

Who Can Use FRS 105 in the UK?

FRS 105 is available to companies in the UK that qualify for the micro-entities regime and decide to apply it. Qualification is a two-step test. First, size: for accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 3 applicable 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. Second, everything else: the regime carries its own rules and exclusions, and some companies are unable to use it whatever their size. Meeting two of the three size conditions therefore does not, by itself, guarantee eligibility. A company in Chalfont considering FRS 105 Micro Entity Accounts should also weigh up the practical side — whether the reduced disclosure and simplified measurement that come with the framework suit the way the business is run and who needs to see the accounts. Checking eligibility and suitability together, before the reporting framework is settled, is the sensible order of events.

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

Preparing FRS 105 Micro Entity Accounts properly means working from your actual financial records — bank statements, sales and purchase information, payroll details, asset records and any loans or director transactions — and applying the requirements of the framework to them. A professional preparer will review those records, consider the accounting policies that fit your circumstances, and build the financial statements so that the figures are supported and internally consistent. It is also helpful to be clear about which tasks are which. Preparing and filing the accounts with Companies House is one piece of work. Preparing and submitting the Corporation Tax Return (CT600) to HMRC is a separate exercise with its own rules and deadlines, even where the two are based on the same underlying bookkeeping. Confirmation Statements, VAT returns and other filings are separate again. Keeping these clearly divided, and making sure the numbers agree where they should, reduces the risk of inconsistencies and makes the whole annual cycle easier to manage.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts

If you are a director of a company in Chalfont and want to know whether FRS 105 Micro Entity Accounts are the right route for your business, get in touch and let’s talk it through. We will ask about your company’s size, its structure, what it does and how it has been reporting so far, and we will explain what information we need from you to assess your circumstances. That typically includes your latest records, details of any changes during the period, and confirmation of any prior accounts or filings. From there you will have a clear picture of your options and of the work involved, along with straightforward, transparent pricing rather than a vague estimate. There is no pressure and no obligation — just a practical conversation about what your company needs.

─── 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 that applies to companies using the micro-entities regime. It is a simplified framework, allowing eligible companies to prepare financial statements with fewer disclosures and a more straightforward approach to measurement than the fuller standards used by larger entities. It deals with how the accounts are prepared and presented — it is not a tax return and it does not, on its own, determine what tax a company owes.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then choose to apply it. Qualification depends on size and on a number of other rules and exclusions, so meeting the size conditions alone does not automatically mean a company is eligible. Certain companies, and certain types of entity, are excluded from the regime regardless of size. That is why eligibility should be checked against your company's specific circumstances rather than assumed.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting framework, not a mandatory one. A company that qualifies may choose to apply it, in which case FRS 105 governs how the financial statements are prepared. Equally, a qualifying company may decide to use a different framework instead. The decision is usually made with the company's circumstances in mind, including who relies on the accounts.

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 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. These are the size conditions only. Other eligibility rules and exclusions still apply, so a company that meets two of the three conditions may still be unable to use the regime.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes of entity. FRS 102 is the fuller standard and applies to a much wider range of companies, including those using the small companies regime, and it generally involves more detailed measurement rules and more extensive disclosures. FRS 105 is the micro-entities standard: narrower in scope, simpler in its requirements and available only to companies that qualify for and choose the micro-entities regime.

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

Yes. Where a company prepares accounts under the micro-entities regime, those accounts are generally the ones delivered to Companies House as part of the company's annual filing obligations, unless a specific exemption applies. Filing accounts with Companies House is a separate requirement from anything submitted to HMRC. The two are prepared on different bases and are governed by different rules, even though they draw on the same underlying financial records.

Is a Corporation Tax Return (CT600) separate from FRS 105 accounts?

Yes, they are separate. FRS 105 governs how the financial statements are prepared and reported. The CT600 is the Corporation Tax Return submitted to HMRC, and it is calculated using tax rules that differ in places from accounting rules. Completing one does not remove the need to complete the other, and the two should be prepared consistently so that any differences between accounting profit and taxable profit are properly identified and explained.

What information is needed to prepare FRS 105 accounts?

Typically you would provide your bookkeeping or accounting records for the period, bank statements and reconciliations, sales and purchase information, payroll and employee details, details of any assets owned or disposed of, and information about loans, director's transactions and any share changes. Details of the previous year's figures are also useful for comparison. Having these assembled before work begins usually makes the process smoother and reduces back-and-forth queries.