─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Gosport

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying UK micro-entities which choose to use the micro-entities regime. For a small company in Gosport, that means simpler financial statements, a far shorter set of disclosure requirements than fuller frameworks, and a format that generally suits owner-managed businesses. Eligibility is not automatic: a company needs to fall within the micro-entity size conditions and must not be excluded by the wider rules, so it is always worth checking the position for your own accounting period before deciding how to prepare your accounts. Professional preparation helps by reviewing your bookkeeping and records, confirming the framework that appears appropriate for your circumstances, drafting the accounts in the required format, and making sure the figures in the financial statements line up with the information used elsewhere, such as your Corporation Tax calculations. If you run a small limited company in Gosport and want your FRS 105 Micro Entity Accounts handled carefully and explained in plain English, we can help you work through the detail step by step.

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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 the Micro-Entities Regime Means for Your Company

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In simple terms, it sets out a simplified way of preparing annual financial statements for companies that qualify for, and choose to apply, the micro-entities regime. Rather than the longer format and wider disclosures used under fuller standards, FRS 105 accounts focus on the essentials: a balance sheet, a profit and loss account, and a small set of notes where required. The standard works alongside the micro-entities regime itself — the legal framework that defines which companies may use it — so FRS 105 applies when that regime is chosen. Choosing it is a decision, not an obligation, and not every small company will qualify. Where a company does qualify and opts in, the result is usually a shorter, more straightforward set of accounts that is easier for a director to read and understand, while still being prepared in line with the applicable reporting requirements. If you are unsure whether FRS 105 is the right fit for your Gosport company, a short conversation about your turnover, balance sheet and headcount is often all it takes to point you in the right direction.

Who Can Use FRS 105 in the UK? Qualifying for the Micro-Entities Regime

FRS 105 is available to UK companies that qualify for the micro-entities regime and choose to apply it. Qualification is based on size, and 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. The test is not purely about size, however. Other eligibility rules and exclusions can apply, and there are categories of company that are not permitted to use the regime regardless of how small they are. That means meeting the size conditions does not, on its own, guarantee that FRS 105 is available to you. For a company in Gosport, the practical approach is to look at your actual figures, your company’s structure and activities, and the intended users of the accounts, then confirm which framework fits. We can review your circumstances with you and explain clearly whether FRS 105 Micro Entity Accounts look appropriate for your next set of financial statements.

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 with Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts properly starts with good records. We work from your bookkeeping, bank statements, invoices, payroll information and any other supporting documents to build a set of financial statements that reflects what actually happened in your business during the period. The accounts are then drafted in the simplified format used under the micro-entities regime, with the figures checked for consistency and the disclosures kept to those required by the framework. It is important to keep the different pieces of company administration separate in your mind. FRS 105 accounts are the financial statements prepared under the applicable accounting framework; filing those accounts with Companies House is a separate step; and your Corporation Tax Return (CT600) is a distinct submission made to HMRC. Each has its own requirements and its own information needs, and getting the accounts right supports the rest of your reporting rather than replacing it. We explain what has been prepared, why the figures look as they do, and what you still need to deal with — so you are never left guessing about the paperwork behind your company.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts in Gosport

If you would like help with your FRS 105 Micro Entity Accounts, get in touch and tell us a little about your company. It helps to know your accounting period dates, an idea of your turnover, what your balance sheet looks like, roughly how many people you employ, and the state of your bookkeeping — along with anything unusual that happened during the year, such as a new asset purchase, a director’s loan, or a change in what the business does. With that information we can look at your circumstances, explain the options available to you, and set out clearly what is involved in preparing your accounts. There is no obligation and no pressure: just a straightforward conversation about where you stand and what you need to do next.

─── 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 designed for micro-entities. It provides a simplified basis for preparing annual financial statements, with a shorter format and far fewer disclosure requirements than the standards used by larger companies. It sits alongside the micro-entities regime, which is the framework that determines which companies may use it, and FRS 105 applies when a qualifying company chooses to adopt that regime.

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 may choose to apply it, and FRS 105 applies when that choice is made. Many qualifying companies do use it because the accounts are shorter and simpler, but others prefer a fuller framework, particularly where they want to present more detail or where a lender, investor or group structure makes that more suitable.

Who can use FRS 105 in the UK?

FRS 105 is intended for 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. Other eligibility rules and exclusions can also apply, so meeting the size conditions on their own does not automatically mean a company qualifies.

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 105 is the micro-entities standard and offers the most simplified presentation and the smallest set of disclosures. FRS 102 is the standard used more broadly by small and medium-sized companies, and it typically involves a fuller set of financial statements and more extensive notes. Deciding between them depends on whether your company qualifies for the micro-entities regime, whether you choose to apply it, and what the readers of your accounts need to see.

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

Accounts prepared under FRS 105 still form part of your company's statutory annual accounts, so the filing obligation with Companies House remains. What changes is the framework used to prepare them, not whether they need to be delivered. Filing your accounts is a separate step from your other obligations, and the format and content you send must match the framework you have applied. We can talk you through what needs to go where so nothing gets missed.

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

Yes, they are two different things. FRS 105 accounts are the financial statements prepared under the micro-entities accounting framework. A Corporation Tax Return, usually filed as a CT600, is a separate submission made to HMRC to report your company's taxable profits and work out the tax due. The figures in your accounts normally feed into the tax return, but preparing the accounts does not by itself deal with your Corporation Tax obligations.

What information is needed to prepare FRS 105 Micro Entity Accounts?

As a starting point, we need your accounting period dates, your bookkeeping records or a summary of income and expenses, bank statements, sales and purchase information, payroll details if you employ anyone, and records of any assets, loans or balances owed to or by the company. If you use accounting software, giving us access is usually the quickest route. The cleaner and more complete your records, the smoother the preparation process tends to be, and the easier it is to explain the figures back to you.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105 for its first accounting period if it qualifies for the micro-entities regime and chooses to apply it. First-year figures are often small, but eligibility still depends on the relevant size conditions and the wider rules and exclusions — it is not simply a case of being new. It is worth checking the position before you decide how to prepare that first set of accounts, because the framework you choose affects the format and the information you will need to gather.