─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Northwood Hills

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying micro-entities in the UK — companies that meet the size criteria and choose to apply the micro-entities regime. FRS 105 is a distinct, simplified framework rather than a lighter version of FRS 102, and it affects how the financial statements are presented and what disclosures are included. For directors of small companies in Northwood Hills, professional preparation helps ensure the accounts are built from accurate bookkeeping records, reflect the company’s actual circumstances, and are presented in a way that is consistent with the regime the company has chosen. It also helps to have the accounts reviewed against the applicable reporting requirements before they are finalised, so that any issues around recognition, measurement or disclosure are picked up early rather than after filing. Eligibility should always be checked for each accounting period, because turnover, balance sheet total and employee numbers can change from one year to the next.

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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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   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 financial reporting standard that applies to UK companies using the micro-entities regime — a simplified accounting framework created for the smallest companies. In practice, it means the financial statements are shorter and more straightforward than those prepared under fuller frameworks: there is generally less disclosure, and the accounts focus on the essentials such as the balance sheet, a small number of notes, and the directors’ information. It is important to understand that FRS 105 is not automatic. A company must qualify as a micro-entity and then choose to apply the micro-entities regime; FRS 105 applies when that choice is made. If a company qualifies but prefers a fuller framework, it can use another standard instead. For directors in Northwood Hills weighing up their options, the practical questions are usually about how much detail the accounts need to show, who the accounts are shared with (for example banks, lenders or investors), and how the figures feed into other filings. That is where a short conversation with an accountant tends to clarify things quickly.

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

FRS 105 is intended for UK companies that qualify as micro-entities and then choose to apply the micro-entities regime — it is not a default that applies to every small company. 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. Those figures are a starting point, not the whole test. Other eligibility rules and exclusions can affect whether the regime is available, and thresholds are measured against the relevant period and compared across periods in certain circumstances. It follows that meeting the size conditions alone does not guarantee eligibility, and a company that qualifies may still decide that a fuller framework better suits its lenders, investors or group reporting. In Northwood Hills, most directors simply want a clear yes-or-no view on whether the micro-entities regime fits their company this year, and confirmation of what that means for the accounts they will file.

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

Preparing FRS 105 Micro Entity Accounts starts with your underlying records: sales and purchase invoices, bank and cash transactions, payroll information, asset purchases, stock or work in progress where relevant, and any loans or director transactions. From those records the financial statements are built — typically a balance sheet with the required notes — and then reviewed to check that the presentation is consistent with the micro-entities regime. It is worth being clear about the different pieces of the jigsaw: the preparation of the financial statements is one task, filing those accounts with Companies House is another, and the Corporation Tax position is dealt with separately through a Company Tax Return (CT600) submitted to HMRC. A Confirmation Statement is a further, separate filing. Keeping the accounts, the tax return and the confirmation statement aligned is one of the main reasons directors choose to have them handled together, even though they are distinct obligations with their own requirements and deadlines.

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Get Help With Your FRS 105 Micro Entity Accounts in Northwood Hills

If you would like your FRS 105 Micro Entity Accounts prepared properly and with clear, transparent pricing, the next step is a straightforward conversation about your company. Tell us about your trading activity, your accounting period, whether you have prepared micro-entity accounts before, and how your bookkeeping is currently kept. It also helps to know who will see the accounts — a bank, a lender, an investor or just the directors — because that can influence how the figures are presented. With that information we can confirm whether the micro-entities regime looks appropriate for your circumstances and explain what is involved in preparing the accounts and filing them with Companies House. Where Corporation Tax is also required, that can be discussed as a separate matter so you know exactly what is being handled and when.

─── 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 is a simplified framework, so the financial statements are shorter than those prepared under fuller standards, with limited notes and a focus on the balance sheet. It exists so that the smallest companies can report in a proportionate way without the disclosure burden designed for larger businesses.

Who can use FRS 105?

It is available to UK companies that qualify as micro-entities and choose to apply the micro-entities regime. Qualifying and choosing are two separate steps — a company might meet the size conditions but still prefer a fuller framework, which is a perfectly valid decision. Certain company types and circumstances are excluded, so eligibility should be checked rather than assumed.

Is FRS 105 compulsory for every micro-entity?

No. FRS 105 is not compulsory. A company that qualifies as a micro-entity may choose to apply the micro-entities regime, and if it does, FRS 105 applies. Alternatively, it can prepare its accounts under a fuller framework such as FRS 102. The choice often depends on who needs to see the accounts and how much detail is helpful.

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. Other eligibility rules and exclusions apply, so meeting the size thresholds alone does not automatically guarantee that a company qualifies for the regime.

What is the difference between FRS 105 and FRS 102?

FRS 102 is a fuller financial reporting framework that requires more disclosures and, in areas such as revaluation and fair value, offers more measurement options than FRS 105. FRS 105 is deliberately narrower and simpler in its presentation. The practical difference for directors is how much information appears in the accounts and how they are likely to be read by banks, lenders or investors.

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

Yes — where accounts are prepared under FRS 105 for a company that has chosen the micro-entities regime, those accounts are the ones filed at Companies House, subject to the filing requirements that apply to the company. Filing the accounts is a separate obligation from the Corporation Tax Return, even though both are based on the same underlying financial information.

Is a Corporation Tax Return (CT600) separate from FRS 105 Micro Entity Accounts?

Yes, they are separate. FRS 105 accounts are financial statements prepared under a reporting framework and filed at Companies House. A CT600 is the Company Tax Return submitted to HMRC to report the company's taxable profit and calculate Corporation Tax. A Confirmation Statement is a third, separate filing. The accounts normally form the starting point for the tax return, but they are not the same document.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 if it qualifies as a micro-entity and chooses the micro-entities regime for its accounting period. Because a first accounting period can differ in length from a normal year and often covers start-up costs and limited activity, it is worth checking the size conditions for that specific period rather than assuming they carry over from a full year of trading.