─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Grays

If your company qualifies for the UK micro-entities regime and you choose to apply it, FRS 105 Micro Entity Accounts provide the financial reporting framework you need. FRS 105 is the standard that applies when the micro-entities regime is adopted, and it allows qualifying companies to prepare simpler financial statements with reduced disclosure compared with larger reporting frameworks. For directors in Grays running a small trading company, a property company, or a professional services business, that can mean clearer, more straightforward accounts that focus on what matters. Professional preparation of FRS 105 Micro Entity Accounts helps ensure the figures are drawn from your records correctly, the presentation reflects the framework you have chosen, and the accounts are ready for the relevant filings. Eligibility is not automatic: the micro-entities regime has size conditions and other rules and exclusions to consider, so it is worth checking your position before assuming FRS 105 is the right fit.

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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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   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.
  
 
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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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   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
  
 
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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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   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.
  
 
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   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.
  
 
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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: What It Means for Micro-Entities in Grays

FRS 105 is the Financial Reporting Standard that sits behind the UK’s micro-entities regime. In plain terms, it is the accounting rulebook for companies that qualify as micro-entities and decide to use that regime. Where it applies, FRS 105 allows a much simpler set of financial statements than the framework used by larger companies: fewer notes, simpler measurement of assets and liabilities, and far less disclosure overall. The micro-entities regime is a choice, not an obligation. A qualifying company can apply it and prepare FRS 105 accounts, or it can use a different framework such as FRS 102. Because the choice affects how your figures are presented and what information is made public, it is worth understanding before your accounts are prepared. FRS 105 Micro Entity Accounts are the outcome when a qualifying company opts for the micro-entities regime, and they are usually prepared from the same bookkeeping records as any other set of accounts — the difference lies in how those figures are recognised, measured and disclosed.

Who Can Use FRS 105 in the UK?

FRS 105 is designed for UK companies that qualify for the micro-entities regime and decide to apply it. 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. Those figures are a starting point rather than the whole test. Other eligibility rules and exclusions can apply, and some companies cannot use the regime at all regardless of their size, so meeting the thresholds alone does not guarantee that FRS 105 is available to you. A company’s first accounting period, any changes in activity during the year, and the nature and structure of the business are all relevant considerations. For directors in Grays, the practical question is a two-part one: does the company qualify, and is the micro-entities regime the sensible choice for how the business is run and what its stakeholders need to see? Reviewing both before your accounts are prepared helps avoid a framework that does not suit your circumstances.

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 Micro Entity Accounts and Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts properly starts with your underlying records — sales, purchases, bank transactions, payroll, stock, fixed assets and any loans or director balances. From there, the accounts are drawn up in line with the micro-entities framework and the disclosure requirements that apply to it. Good preparation matters because the figures in your financial statements feed into the accounts you file at Companies House and often form the starting point for your Corporation Tax position. It is important to keep these two things separate: the preparation and filing of financial statements at Companies House is a companies law requirement, while Corporation Tax is dealt with through a separate return submitted to HMRC. A well-organised set of FRS 105 Micro Entity Accounts in Grays gives you a clear picture of your company’s position, supports your record-keeping obligations, and reduces the risk of avoidable errors or inconsistencies between what you report and what you file.

ICAEW

ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Grays

Whether you are preparing micro-entity accounts for the first time, switching framework, or simply want your figures checked before filing, we can help you work through your FRS 105 Micro Entity Accounts requirements. Tell us about your company — what it does, when your accounting period ends, what records you hold, and whether you already have accounts or a Corporation Tax return in progress. With that information we can assess your circumstances, explain the options available to you, and set out clear, transparent pricing for the work involved before anything begins. If you are unsure whether the micro-entities regime is appropriate for your company, that is a good conversation to have early, so get in touch and we will help you take the next step.

─── 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 sets out simplified rules for recognising and measuring assets, liabilities, income and expenses, together with a much shorter set of disclosure requirements than the frameworks used by larger companies. In practice, FRS 105 accounts are shorter, simpler and more closely aligned to the underlying records than full or small-company accounts under FRS 102.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the micro-entities regime and choose to apply it. Meeting the size conditions is only part of the picture — other rules and exclusions can apply, and certain types of company are not eligible for the regime regardless of size. It is worth reviewing your company's specific circumstances, and if there is any doubt, taking advice before deciding which framework to adopt.

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 qualifies can choose to apply it and prepare FRS 105 accounts, or it can prepare accounts under a different framework such as FRS 102. The choice can affect the level of detail published, how certain items are measured, and how easily the accounts can be compared year on year, so it is a decision worth making deliberately rather than by default.

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 conditions sit alongside other eligibility rules and exclusions, so satisfying two of the three on its own does not automatically mean a company qualifies for the regime. Different rules can apply in a company's first accounting period and where the company's circumstances change.

What is the difference between FRS 105 and FRS 102?

FRS 105 is the micro-entities standard and is deliberately the simplest option: fewer notes, fewer accounting policy choices, and no revaluation or deferred tax accounting. FRS 102 is the wider UK standard; small companies using it typically apply the small entities provisions, which allow more flexibility and fair value options but require considerably more disclosure. The framework you use also affects the reported figures, which can influence distributable profits and how your accounts compare with previous years.

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

Yes. Companies are required to file annual accounts at Companies House, and micro-entity accounts prepared under FRS 105 can be filed in the simplified micro-entity format permitted by the filing rules, rather than the fuller format larger companies use. What you file is drawn from the financial statements you prepare, so it is important that the underlying accounts are complete and internally consistent before the filing is submitted.

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

It is a separate filing. FRS 105 accounts are the financial statements prepared under the micro-entities framework and filed at Companies House, while a CT600 is the Corporation Tax return submitted to HMRC. Although both usually start from the same accounting records, they are prepared for different purposes and are not interchangeable. Tax adjustments, capital allowances and other reliefs are dealt with through the tax return, not through the accounts themselves.

What changes are coming to micro-entity accounts filing?

Companies House is phasing in reforms to how company accounts are filed, with a move towards software-based filing and less scope for the more abbreviated filing options that have historically been available. The changes are being introduced in stages, and the exact requirements depend on the type of company and the period involved. Because the detail continues to be updated, it is worth checking the latest Companies House guidance and reviewing your filing approach before your next accounts are due.