─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Midhurst

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 small companies across Midhurst and the surrounding West Sussex area, that choice can make the year-end process considerably more straightforward, because FRS 105 removes much of the narrative disclosure and some of the more complex measurement rules found in larger reporting frameworks. Professional preparation helps ensure your FRS 105 Micro Entity Accounts are built up properly from your own financial records, reflect your company’s particular circumstances, and are presented in a form that is consistent with the requirements of the regime. Eligibility is not automatic: a company must meet the applicable size conditions and must not fall within any of the relevant exclusions. If you are unsure whether your company qualifies, or whether the micro-entities regime is the right fit for your business, a short conversation is usually enough to establish where you stand and what the next steps look like.

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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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   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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   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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─── FRS 105 EXPLAINED

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

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In simple terms, it is the rulebook that sits behind the smallest and most simplified set of statutory accounts a UK company can prepare. FRS 105 only applies where a company both qualifies for the micro-entities regime and chooses to use it — the regime is an option, not something that is imposed on every small company. When the micro-entities regime is adopted, FRS 105 governs how the figures are measured and what the resulting financial statements look like, so the profit and loss account, balance sheet and accompanying notes are prepared on that basis rather than under a fuller framework such as FRS 102 Section 1A. The appeal for many owner-managed businesses is that FRS 105 keeps reporting lean and focused: fewer disclosures, a simpler presentation and a set of accounts that is easier for directors and readers to follow. It is worth remembering that FRS 105 accounts deal with financial reporting only. They are separate from a Corporation Tax Return (CT600), which is filed with HMRC, and from a Confirmation Statement, which is filed with Companies House — different documents, different purposes, and often different deadlines.

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

FRS 105 is intended for UK companies that qualify for the micro-entities regime and 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 size conditions is an important part of the picture, but it is not the whole test. Other eligibility rules and exclusions apply, and certain entities — including some companies within groups and those operating in particular regulated sectors — may be prevented from using the regime even if their figures fall within the thresholds. A qualifying company is also not obliged to apply the micro-entities regime; it is a choice that should be weighed against the needs of directors, lenders and any other users of the accounts. Because the rules can interact with your specific structure and circumstances, and because the relevant figures need to be assessed properly for each period, it is sensible to confirm your position before preparing or filing accounts on an FRS 105 basis.

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 and Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts is not simply a matter of filling in a template. The figures need to be drawn from your company’s underlying accounting records — bookkeeping, bank transactions, sales and purchase records, payroll information, stock and asset details — and then measured and presented in line with the requirements that apply to the micro-entities regime. Working with experienced accountants means your financial statements are built up carefully, with the accounting policies, comparatives and disclosures considered in the context of your company rather than copied across by default. It also means the boundaries between your various filing obligations are kept clear. The preparation of the statutory financial statements is one task; filing those accounts with Companies House is another; and the Corporation Tax Return (CT600) submitted to HMRC is a separate exercise entirely, with its own figures, adjustments and deadlines. Keeping these strands distinct helps avoid confusion and reduces the risk of information being missed or mismatched. We can prepare your FRS 105 Micro Entity Accounts on the basis of the records you provide and explain what is being included and why, so you understand the numbers you are signing.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Midhurst

If your company may be able to use the micro-entities regime, or you would simply like to understand whether FRS 105 Micro Entity Accounts are the right option for your business, we are happy to talk it through. Tell us a little about your company — its trading activity, your approximate turnover and balance sheet position, how many people you employ, and whether you already have accounts prepared on another basis. From there we can look at your circumstances, explain how FRS 105 would apply if you qualify and choose it, and set out clearly what information we would need to prepare your accounts. There is no obligation and no jargon — just a straightforward discussion about your reporting options in Midhurst and beyond.

─── 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 that applies to companies using the micro-entities regime. It sets out how the smallest qualifying companies measure and present their statutory accounts, and it is deliberately streamlined: fewer disclosures, a simplified format and less narrative than fuller frameworks. FRS 105 only comes into play when a company both qualifies for the micro-entities regime and decides to apply it.

Who can use FRS 105?

FRS 105 is available to UK companies that qualify as micro-entities and choose to apply the micro-entities regime. Qualifying is not just about size — certain companies are excluded from the regime regardless of their figures, and the rules around group structures and regulated or financial-sector activity can be relevant. It is always worth checking your specific circumstances rather than assuming you are eligible.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a mandatory one. If your company qualifies, you may choose to apply it — and if you do, FRS 105 applies. However, a qualifying company can instead prepare its accounts under a fuller framework such as FRS 102 Section 1A if that better suits its needs, for example where a lender, investor or group parent wants more detail.

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 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 size conditions is not, on its own, a guarantee of eligibility, because additional rules and exclusions can apply. The figures and employee count are assessed using the relevant rules for the period in question.

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 disclosure. FRS 102 is the broader standard, and its Section 1A provides a reduced-disclosure option for small companies that are not using the micro-entities regime. In practice, FRS 105 accounts are shorter and leaner, while FRS 102 Section 1A accounts typically include more notes and disclosures.

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

Yes. Where accounts are prepared under FRS 105, they still form part of your company's statutory accounts and normally need to be filed with Companies House. Filing the accounts is a separate step from preparing them, and it is also separate from your Corporation Tax obligations. Your CT600 Corporation Tax Return goes to HMRC, while your annual accounts and your Confirmation Statement are submitted to Companies House.

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

Yes, entirely separate. FRS 105 Micro Entity Accounts are the statutory financial statements prepared under the micro-entities regime. A CT600 is the Corporation Tax Return submitted to HMRC, computed using tax rules rather than the accounting framework. The profit figure in your accounts is usually the starting point, but tax adjustments, capital allowances and other reliefs mean the taxable figure can differ — and the two documents are filed with different bodies.

Can a new limited company use FRS 105?

A newly incorporated company can use the micro-entities regime if it qualifies for it and chooses to apply it — being new does not automatically rule it out. In the first period, eligibility is generally assessed in line with the rules that apply to a company's first accounting period, and the position should be reviewed each year as turnover, balance sheet totals and employee numbers change. Where a company has been trading for only part of a period, the relevant assessments need to be handled carefully.

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

In most cases you would provide your bookkeeping or accounting records, bank and credit card statements, sales and purchase information, payroll details, and records of any assets, stock or liabilities held at the period end. Details of any loans, director's transactions and share capital are also useful. If accounts were prepared previously, having the prior year figures to hand helps ensure the comparatives are consistent.