─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Horethorne

FRS 105 Micro Entity Accounts provide the financial reporting framework for companies that qualify for, and choose to apply, the UK micro-entities regime. In Horethorne, professional preparation of FRS 105 Micro Entity Accounts can help ensure your financial statements are put together appropriately for your company’s circumstances, based on the records you provide and the applicable reporting requirements. It is not a case of every small company automatically falling within the regime — eligibility depends on meeting the relevant size conditions and not being subject to any exclusion. We can help you understand whether the micro-entities regime is available to your company, and if it is chosen, prepare FRS 105 accounts that reflect your trading activity, assets and liabilities in a clear and consistent way.

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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 300 reviews 
    
 
 
 
   
 
 
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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.
  
 
      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
  
 
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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 .
  
 
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   Mael Leboucher 
 
 
 
 Trustindex verifies that the original source of the review is Google. We worked with a few different accountants before finally settling with Accotax, and we’re really glad we did. Their team is great. Abdul is responsive and easy to reach whenever I have a question, which makes a big difference. They take the time to understand how our business works and what our needs are. They are very knowledgeable, and when they don’t have the answer straight away, they take the time to look into it and get back to us quickly. Anum, who looks after our account on a day-to-day basis, including reconciling invoices and preparing the annual accounts, is amazing. She is professional, efficient, and follows the processes we have put in place together. She's also very quickin getting back to us whenever needed. We’re very happy to work with her and hope to continue doing so for as long as possible. Overall, Accotax has made our accounting experience much smoother and easier. We see them as a long-term partner as our business continues to grow. I would 100% recommend them.
  
 
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   3rd Hub 
 
 
 
 Trustindex verifies that the original source of the review is Google. Imran provides a very dependable and straightforward accounting service. He is always responsive and professional when managing our accounts. Excellent support.
  
 
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   Martin Tyrrell 
 
 
 
 Trustindex verifies that the original source of the review is Google. I have really impressed to date with all dealings with Accotax highly enough. From day one, they've made what can often be a complicated and stressful part of running a business feel straightforward and hassle-free. A special mention has to go to Anum, who has been friendly, incredibly responsive, and genuinely cares about providing the best possible service. No question is ever too much trouble, and she consistently goes above and beyond to make sure everything is dealt with efficiently. I wouldn't hesitate to recommend you to anyone looking for an accountant they can genuinely trust.
  
 
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   Matthew Lyon 
 
 
 
 Trustindex verifies that the original source of the review is Google. Great speedy service and very personable. Anum dealt with my income certificate and did everything quickly and helped me out massively. Very happy with the service provided.

─── FRS 105 EXPLAINED

FRS 105 Explained: The Micro-Entities Reporting Framework

FRS 105 is the UK financial reporting standard that applies when a qualifying company chooses to use the micro-entities regime. In simple terms, it is a simplified accounting framework designed for very small companies, allowing financial statements to be prepared on a more straightforward basis than larger reporting frameworks. The micro-entities regime is an available accounting regime, not an automatic one: a company must qualify for it and then decide to apply it. When that choice is made, FRS 105 sets out how the accounts should be prepared, including the recognition and measurement of items and the limited disclosures required. For business owners in Horethorne, FRS 105 Micro Entity Accounts can mean a clearer, less complex set of financial statements, while still providing the information needed for the company’s filing obligations and internal records.

Who Can Use FRS 105 in the UK?

FRS 105 in the UK is intended for companies that qualify for the micro-entities regime and then choose to apply it. 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. However, other eligibility rules and exclusions can apply, so satisfying the size thresholds does not automatically mean a company can use FRS 105. Companies with more complex structures or activities may need to consider the detailed rules. If your company is based in Horethorne and you are unsure whether FRS 105 Micro Entity Accounts are appropriate, the eligibility position should be reviewed carefully before the accounts are prepared.

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

Professionally prepared FRS 105 Micro Entity Accounts are based on the financial records you provide and the reporting requirements that apply to your company. The process typically involves reviewing your income, expenses, assets, liabilities and other relevant information, then preparing financial statements that are consistent with the FRS 105 framework where the micro-entities regime has been chosen. It is important to keep the preparation of the accounts separate from other obligations: filing the accounts with Companies House is one step, while a Corporation Tax Return (CT600) is a separate submission to HMRC. Good preparation can help reduce the risk of errors and make the figures easier to follow, but it does not replace your company’s own responsibility to ensure filings are correct and submitted on time.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Horethorne

If you would like support with FRS 105 Micro Entity Accounts, the next step is to talk through your company’s circumstances. We can help you consider whether the micro-entities regime is available to you and what information is needed to prepare the accounts. To assess your requirements, it helps to have details of your trading activity, records of income and expenses, information on assets and liabilities, and any relevant correspondence about your filing obligations. Get in touch to discuss your FRS 105 Micro Entity Accounts requirements in Horethorne and find out how we can assist.

─── 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 companies that qualify for, and choose to apply, the micro-entities regime. It provides a simplified basis for preparing financial statements, with reduced disclosure requirements compared with larger reporting frameworks. It applies only when the micro-entities regime is actually chosen.

Who can use FRS 105 Micro Entity Accounts?

FRS 105 Micro Entity Accounts are available to companies that meet the micro-entity eligibility conditions and decide to apply the micro-entities regime. Meeting the size thresholds alone is not always enough, because certain companies are excluded from the regime. Eligibility needs to be considered against the specific rules for your company and accounting period.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting framework rather than a mandatory one. A qualifying company can choose whether to apply it. If it does, FRS 105 applies. If it does not, another suitable financial reporting framework may be used 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 3 applicable size conditions: turnover of no more than £1 million, 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 these thresholds should not be treated as a guarantee of eligibility on their own.

What is the difference between FRS 105 and FRS 102?

FRS 105 is the simplified framework for qualifying micro-entities that choose the micro-entities regime. FRS 102 is a broader UK financial reporting standard used by many other companies. FRS 105 generally involves simpler measurement and fewer disclosures, while FRS 102 provides more detailed accounting and disclosure requirements.

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

Where a company prepares FRS 105 accounts and is required to file annual accounts, those accounts can be filed with Companies House. The filing obligation itself comes from company law, not from FRS 105. The format and content of the filed accounts should be appropriate for the chosen regime and the company's circumstances.

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

Yes. FRS 105 accounts are financial statements prepared under the micro-entities reporting framework. A Corporation Tax Return (CT600) is a separate tax filing submitted to HMRC. The accounts and the CT600 serve different purposes, even though the financial information in them may overlap.

Can a new limited company use FRS 105?

A new limited company may be able to use FRS 105 if it qualifies for the micro-entities regime and chooses to apply it. A first set of accounts can cover a longer period, so eligibility should be assessed for the actual accounting period involved. It is worth checking the position before preparing the accounts.