─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Hungerford

FRS 105 provides the financial reporting framework for qualifying micro-entities that choose to apply the micro-entities regime, and it is built to keep annual accounts straightforward without losing sight of accurate reporting. For companies in Hungerford, FRS 105 Micro Entity Accounts can be a practical fit where the business is small, the transactions are relatively uncomplicated, and the directors want financial statements that are clear and proportionate. Professional preparation helps ensure the accounts are built from your actual records, prepared in line with the framework as it applies to your company, and presented consistently from one year to the next. It also gives you a point of contact to discuss the areas that most often cause difficulty — directors’ loans, fixed assets, stock, accruals, and how the figures flow through into the rest of your company reporting. Eligibility for the micro-entities regime is never automatic; it depends on the size conditions, the type of entity and other rules, so the sensible starting point is always a review of your circumstances before any framework is chosen.

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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  
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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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 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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 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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 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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 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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 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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 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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─── FRS 105 EXPLAINED

FRS 105 Explained: The UK Micro-Entities Regime in Plain English

In simple terms, FRS 105 is the UK accounting standard that applies when a qualifying company chooses to use the micro-entities regime. The micro-entities regime is one of the accounting frameworks available to very small companies. It sits alongside other options, such as the small companies regime under FRS 102, and it is chosen rather than imposed on a company. Where FRS 105 applies, the financial statements are prepared on a simplified basis: the balance sheet and profit and loss account follow prescribed formats, the number of disclosures is reduced, and some measurement options permitted elsewhere are not allowed — revaluation and fair value accounting, for example, are not used. The aim is proportionate reporting that still gives a true and fair view of a small company’s position without the volume of notes a larger business would need. For a Hungerford company considering FRS 105 Micro Entity Accounts, the practical questions are usually whether the company qualifies, whether the regime suits the way the business is run and financed, and whether the resulting figures still give the directors, lenders and shareholders the information they actually need.

Who Can Use FRS 105 in the UK? Micro-Entity Eligibility and the Regime

FRS 105 is intended for companies that qualify for the UK 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 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 conditions is not the whole picture, though. Other eligibility rules and exclusions apply — certain types of entity, such as particular financial and investment undertakings, cannot use the micro-entities regime — and the way the conditions are assessed depends on the period concerned and the company’s own history. Qualifying is also a choice rather than an obligation, so an eligible company may decide to report under a different framework if that better suits its circumstances. If you are unsure where your Hungerford company stands, a short review of your figures, structure and reporting needs will usually clarify whether FRS 105 Micro Entity Accounts are available and sensible for you.

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 in Hungerford

Preparing FRS 105 Micro Entity Accounts is largely a question of accuracy and consistency: taking the figures from your bookkeeping, checking that income and costs fall into the correct period, confirming the balance sheet reflects what the company genuinely owns and owes, and then presenting the financial statements in the format the framework requires. Professional preparation supports that process by working from your records — bank statements, sales and purchase invoices, payroll information, loan and asset details — and by applying the reporting requirements relevant to your company. Accounts prepared under FRS 105, and the filing of those accounts with Companies House, sit separately from Corporation Tax: the annual accounts are filed at Companies House, while the company’s Corporation Tax Return (CT600) is submitted to HMRC. The two serve different purposes even though they draw on the same underlying figures. Careful preparation means the accounts, the tax position and your other company filings tell a consistent story, and it gives you the chance to resolve queries or anomalies before anything is finalised. No specific outcome can be guaranteed in advance, since acceptance of filings and tax results depend on the facts and on the relevant authorities, but a well-documented process puts you in the strongest position.

ICAEW

ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Hungerford

If your company may qualify for the micro-entities regime, or you already prepare FRS 105 Micro Entity Accounts and would like them handled carefully, the next step is a straightforward conversation. Tell us about your business — what it does, how it is structured, the accounting period involved and the records you hold — and we can help you work out whether the micro-entities regime is the right framework for your circumstances and what is needed to prepare the financial statements. Fixed-fee options and clear, transparent pricing are available, so you know where you stand before any work begins. Whether you are newly incorporated, moving from another accountant, or simply want your year-end reporting to run more smoothly, get in touch to discuss your FRS 105 Micro Entity Accounts requirements in Hungerford.

─── 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 the annual accounts of a qualifying company should be prepared once that company has chosen to apply the micro-entities regime. It is a simplified framework: the formats for the balance sheet and profit and loss account are prescribed, the disclosure requirements are reduced compared with larger regimes, and certain options available elsewhere, such as revaluation and fair value accounting, are not permitted. The result is a shorter, more proportionate set of financial statements.

Who can use FRS 105?

It is available to companies that qualify as micro-entities under the UK rules and then decide to use the micro-entities regime. 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 rules and exclusions also apply — certain financial and investment entities, for example, cannot use the regime — so the size tests alone do not always settle the question.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an option rather than an obligation. A company that qualifies may choose to apply it, but it does not have to. Many qualifying companies use FRS 105 because it keeps reporting lean, while others prefer the small companies regime under FRS 102, particularly where they want to present more information or use accounting treatments that FRS 105 does not allow. Whichever framework is chosen, it should be applied consistently and disclosed appropriately.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the broader UK standard, and its Section 1A is tailored to small companies. FRS 105 goes further in simplifying matters for micro-entities: fewer notes, fixed formats for the primary statements, and no use of fair value or revaluation for the items it covers. In practice, FRS 105 accounts are shorter and more prescriptive, while FRS 102 accounts offer more flexibility and more disclosure. The right choice depends on the company's size, its transactions and what the people reading the accounts need from them.

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

Yes. A UK limited company is generally required to file annual accounts at Companies House, and where those accounts are prepared under the micro-entities regime they are filed as micro-entity accounts. Filing the accounts is a separate exercise from submitting a Corporation Tax Return. Micro-entity accounts filed at Companies House typically include the balance sheet and related notes rather than the full profit and loss account, but the accounts still need to be prepared properly and filed in line with the applicable requirements.

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

Yes, they are separate documents with different purposes and different recipients. FRS 105 Micro Entity Accounts are your company's financial statements, prepared under the micro-entities regime and filed at Companies House. The CT600 is the Corporation Tax Return submitted to HMRC. The accounts figures usually form the starting point for the tax computation, with adjustments then applied under tax rules, so it makes sense to prepare the two together and keep them consistent.

Can a new limited company use FRS 105?

It can, provided it qualifies for the micro-entities regime and chooses to apply it. A newly incorporated company has no trading history behind it, so the size conditions have to be assessed on its own position, and the rules applying to a first accounting period need to be looked at carefully. Exclusions still apply. Many new companies keep straightforward records and find that the micro-entities regime suits them, but eligibility should always be checked rather than assumed.

What information is needed to prepare FRS 105 accounts?

Typical records include bank and credit card statements, sales invoices and receipts, purchase invoices and expense receipts, payroll and pension information, details of loans or finance agreements, asset purchases and disposals, stock or work-in-progress figures, and any VAT or tax correspondence. It also helps to have your finalised bookkeeping or accounting software data, plus a note of anything unusual in the period, such as a one-off transaction or a movement on a director's loan. The clearer and more complete the records, the more straightforward the preparation tends to be.