─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Lancing

FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime — a simplified accounting framework available to companies that qualify as micro-entities and choose to apply it. For directors in Lancing running a small limited company, FRS 105 can mean shorter, more streamlined accounts than those prepared under a fuller reporting framework, with a balance sheet, notes and a reduced set of disclosures. Professional preparation starts with reviewing your company’s circumstances, confirming whether the micro-entities regime is available and appropriate, and then building the financial statements from your accounting records. Eligibility is not automatic — it depends on the size criteria, the nature of the company and certain exclusions, so the first step is always a proper assessment rather than an assumption. If you would like your FRS 105 Micro Entity Accounts handled carefully and explained in plain English, we can work through the details with you.

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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.
  
 
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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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 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 Micro-Entities Regime in Simple Terms

FRS 105 is the UK financial reporting standard written specifically for micro-entities. It sits alongside the micro-entities regime, which is an accounting regime that qualifying companies may choose to apply when preparing their annual financial statements. In practice, that means a company using FRS 105 prepares a simpler set of accounts than one reporting under FRS 102: fewer disclosures, a more straightforward balance sheet, and a reporting approach built around the needs of very small businesses. It is important to understand the two-part test here. First, a company needs to qualify for the micro-entities regime under the applicable size criteria and eligibility rules. Second, the company needs to actually choose that regime — FRS 105 applies when the micro-entities regime is used, rather than being something every small company is automatically placed into. Directors in Lancing often find FRS 105 appealing because it keeps the accounts readable and proportionate, but the decision should be made with an understanding of how it affects the figures reported, the disclosures given, and how the accounts interact with the rest of your filing obligations.

Who Can Use FRS 105 in the UK?

FRS 105 is available to 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 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 a key part of the picture, but it is not the whole picture. Other eligibility rules and exclusions apply, and certain companies cannot use the regime regardless of their size — so passing the size test alone does not automatically guarantee that FRS 105 is available to you. It is also worth remembering that eligibility and choice are separate steps: a qualifying company may still decide to report under a fuller framework. For directors in Lancing, the practical approach is to look at your company’s structure, activities, ownership and figures together, then confirm whether the micro-entities regime is both available and suitable 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

Preparing FRS 105 Micro Entity Accounts well comes down to two things: accurate records and a correct application of the reporting framework. We start with your bookkeeping — bank transactions, sales and purchase records, payroll information, asset purchases and any loans or director balances — and use those records to build financial statements that reflect your company’s actual position. From there we apply the FRS 105 requirements, including the recognition and measurement rules and the limited disclosures the framework calls for. It is worth being clear about how the different obligations fit together. Preparing and filing your financial statements at Companies House is a separate exercise from your Corporation Tax position. A CT600 Corporation Tax Return is submitted to HMRC, not Companies House, and it is not the same document as your FRS 105 accounts, even though both draw on the same underlying figures. A Confirmation Statement is a further, separate filing. We can support you across these areas so that each requirement is dealt with on its own terms, with the accounts prepared to reflect your circumstances and the framework that applies to your company.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts

If you are a director in Lancing and want your FRS 105 Micro Entity Accounts prepared properly, the best next step is a straightforward conversation. Tell us about your company — what it does, how it is structured, roughly how it has traded, and what records you currently keep — and we can establish whether the micro-entities regime is likely to be available to you and what would be involved in preparing the accounts. Bring along your latest trial balance or bookkeeping export if you have one, plus details of any significant transactions during the period. From there we can explain the process in plain English, outline clear and transparent pricing options, and set out what we would need from you. Reach out whenever you are ready and we will help you work through your FRS 105 Micro Entity Accounts requirements.

─── 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 is a simplified framework, designed so that very small companies can prepare financial statements that are proportionate to their size, with a reduced set of disclosures compared with fuller reporting standards. FRS 105 applies when a qualifying company chooses to apply the micro-entities regime.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the micro-entities regime and then choose to apply it. Qualification depends on meeting the applicable size conditions and on not falling foul of the relevant exclusions — for example, certain types of company are not eligible regardless of size. Meeting the size thresholds on their own does not automatically guarantee eligibility, so it is worth checking your specific circumstances before deciding.

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 the following 3 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 applicable size conditions, but other eligibility rules and exclusions can also apply, so satisfying two of the three does not by itself confirm that the micro-entities regime is available to your company.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime rather than a mandatory one. A company that qualifies may choose to apply it, and FRS 105 applies when that choice is made. Some qualifying companies prefer to report under a fuller framework such as FRS 102, often because of the disclosures their shareholders, lenders or other users of the accounts expect to see.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the general financial reporting standard for UK companies, while FRS 105 is the micro-entities standard. FRS 105 is considerably shorter and simpler, with fewer disclosure requirements and a more streamlined balance sheet. FRS 102 gives a fuller picture and applies to companies that do not qualify — or choose not — to use the micro-entities regime. Which one is appropriate depends on your company's size, eligibility and who needs to use the accounts.

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

Where a company prepares FRS 105 Micro Entity Accounts, those financial statements still form part of its Companies House filing obligations for the relevant period. The accounts are prepared under the micro-entities regime and then filed in line with the applicable filing requirements. This is distinct from the company's Corporation Tax Return, which is submitted to HMRC separately.

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

Yes — they are two different things. Your FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime and filed at Companies House. A CT600 is the Corporation Tax Return submitted to HMRC to report the company's taxable profits and calculate the tax due. Both draw on the same underlying accounting figures, but they are prepared for different purposes and sent to different bodies.

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

As a starting point, we would usually need your bookkeeping records or a trial balance for the period, bank statements, sales and purchase information, payroll details if you employ staff, records of any fixed assets bought or sold, and details of loans, director balances or other significant transactions. If you already have last year's accounts, that helps provide continuity. Once we have reviewed what you hold, we can tell you whether anything else is needed and flag any gaps to fill.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105, provided it qualifies for the micro-entities regime and chooses to apply it. New companies often assume this is automatic in their first year, but eligibility still depends on the relevant size conditions and exclusions, and a first set of accounts can raise questions about what counts towards turnover and the balance sheet total. It is usually worth confirming the position before the accounts are prepared rather than after.

What changes are coming to micro-entity accounts filing?

Filing requirements and company reporting expectations do change over time, and the size thresholds themselves were updated for accounting periods beginning on or after 6 April 2025. Because the detail matters and can affect how accounts are prepared and submitted, we review the current position for each company we work with rather than relying on general assumptions. If you have a specific concern about how a change affects your company, it is best to talk it through with us directly.