─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Leighton

FRS 105 Micro Entity Accounts in Leighton are prepared under the financial reporting framework that applies to qualifying micro-entities which choose to adopt the micro-entities regime. FRS 105 is a distinct, simplified framework — it is not simply a lighter version of FRS 102, and the recognition and disclosure requirements differ in important ways. Professional preparation helps ensure your accounts reflect your company’s actual financial records, are presented consistently with the framework you have chosen, and are supported by the underlying bookkeeping and documentation. Because eligibility depends on a combination of size criteria and other rules and exclusions, the starting point is always a proper review of your company’s circumstances rather than an assumption that micro-entity treatment automatically applies. Whether you are filing your first set of accounts or reviewing how your current accounts are prepared, we can talk you through what FRS 105 Micro Entity Accounts involve and how they fit alongside your wider filing obligations.

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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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   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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 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 Regime in Simple Terms

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In practice, it sits alongside the micro-entities regime: a company that qualifies as a micro-entity may choose to apply that regime, and where it does, FRS 105 is the standard used to prepare its financial statements. The appeal is simplicity. FRS 105 financial statements are prepared on a historical cost basis, with a narrower set of accounting options and reduced disclosure compared with larger frameworks, which means shorter, more straightforward accounts that still show the company’s financial position and results. There are trade-offs to be aware of, particularly around how certain items are measured and the level of detail shown in the notes. Choosing the micro-entities regime is a decision, not a default — a qualifying company can also prepare accounts under a different framework such as FRS 102, and the right answer depends on its size, structure, ownership and what the accounts are used for. FRS 105 Micro Entity Accounts in Leighton are therefore best approached by confirming eligibility first, then preparing the statements in line with the framework selected.

Who Can Use FRS 105 in the UK?

FRS 105 is designed for companies that qualify for the UK micro-entities regime and choose to apply it. Eligibility is assessed against the applicable size conditions for the accounting period. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 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. Meeting two of those three conditions is a starting point, not the end of the assessment. The rules also include exclusions that can prevent certain entities from using the micro-entities regime whatever their size, and the criteria are applied with reference to the period concerned, including how the company’s first period is treated. For that reason, the sensible approach for FRS 105 Micro Entity Accounts in Leighton is to review the company’s actual figures and structure against the current rules before deciding which framework to prepare the accounts under.

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 and Accurate Financial Reporting

Accurate FRS 105 Micro Entity Accounts start with accurate records. We work from your company’s bookkeeping, bank information, invoices and other supporting documentation to prepare financial statements that are consistent with FRS 105 and reflect the transactions actually recorded. That includes producing the balance sheet, the profit and loss account and the notes required under the framework, and preparing the accounts in a format suitable for filing at Companies House on behalf of the company. It is worth being clear about the boundaries here: preparing and filing accounts is one obligation, and a Corporation Tax Return (CT600) submitted to HMRC is another. A CT600 is based on the company’s taxable profits and is dealt with separately, and a Confirmation Statement is a further, distinct filing. We can help you keep track of which documents are due and how they relate to one another, and we will flag areas where judgement is needed or where information is incomplete, so that decisions about the accounts are made with the full picture in front of you rather than after the event.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts

If you would like help with FRS 105 Micro Entity Accounts in Leighton, the best next step is a conversation. Tell us about your company — its trading activity, its structure, how long it has been trading, and how your records are currently kept — and we can consider whether the micro-entities regime appears to be available to you and what preparing accounts under FRS 105 would involve. It also helps to have recent financial information to hand, such as your latest trial balance or bookkeeping records, previous accounts, and details of any significant transactions during the period. If your circumstances mean a different framework suits you better, we can explain why. Get in touch to discuss your requirements and to ask any questions about eligibility, preparation or filing before you commit to anything.

─── 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 qualifying companies that choose to apply the micro-entities regime prepare their financial statements, including the accounting basis they use and the disclosures they make. It is a simplified framework: accounts are prepared on a historical cost basis, fewer accounting policy choices are available, and the notes are much shorter than under larger standards. The result is a compact set of accounts that still presents the company's balance sheet and results.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the micro-entities regime and decide to apply it. Qualification depends on the company meeting the applicable size criteria and not falling within any of the relevant exclusions — for example, certain entities are prevented from using the regime regardless of size. Meeting the size thresholds on their own does not automatically confirm eligibility, so it is always worth checking the specific rules against your company's circumstances before preparing accounts on that basis.

Is FRS 105 compulsory for every micro-entity?

No. A qualifying company may choose to apply the micro-entities regime, and FRS 105 applies when that regime is chosen — but it is an option, not something that is forced on every small company. A company that qualifies may instead prepare its accounts under another framework such as FRS 102, and there can be good reasons for doing so, including the level of detail required by lenders, investors or other users of the accounts.

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 are size conditions only. Other eligibility rules and exclusions also apply, so satisfying two of the three does not by itself guarantee that the micro-entities regime is available to your company.

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 and produce different accounts. FRS 105 is the micro-entities standard, built around a historical cost basis, limited measurement options and reduced disclosure. FRS 102 is a broader standard used by small and larger entities, with more recognition and measurement choices and substantially more disclosure. In practical terms, FRS 105 accounts are shorter and simpler, while FRS 102 accounts provide more information and therefore more flexibility.

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

Where a company prepares its annual accounts under FRS 105, those accounts still need to be filed with Companies House as part of the company's annual accounts filing obligation, in the format permitted for the regime. This is separate from the company's Corporation Tax position. Filing the accounts does not discharge any Corporation Tax obligation, and submitting a Corporation Tax Return does not replace the accounts filing.

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

Yes, they are separate things. FRS 105 accounts are the statutory financial statements prepared under the micro-entities framework and filed at Companies House. A CT600 is the Corporation Tax Return submitted to HMRC, and it is based on the company's taxable profits and the tax adjustments that apply, which are not the same as the figures in the accounts. Most companies will need to deal with both, and the two are prepared on different bases and sent to different bodies.

Can a newly incorporated limited company use FRS 105?

It can be possible, but it is not automatic. A new company still has to qualify for the micro-entities regime and must not be caught by any of the relevant exclusions. In the first period it also depends on what the company has actually traded and reported. It is worth discussing the position early, because decisions made in the first set of accounts — including how items are measured and what comparative information is presented — can affect later periods.