─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Northfleet

If your company qualifies for the UK micro-entities regime and has chosen to apply it, FRS 105 Micro Entity Accounts are the financial statements you prepare under that framework. FRS 105 is the financial reporting standard written specifically for micro-entities, and it sits alongside the micro-entities regime rather than replacing it — the regime sets out who may use it, while FRS 105 sets out how the accounts are actually put together. For directors in Northfleet running a small limited company, that means a simpler, shorter set of accounts than you would see under a larger reporting framework, but it still needs to reflect your real transactions, balances and disclosures accurately. Professional preparation helps here because the detail matters: recognising income and costs in the right period, keeping the balance sheet consistent with your records, applying the correct disclosure requirements, and making sure the figures you file agree with the accounts you present to shareholders. It also helps to have someone confirm that the micro-entities regime genuinely suits your circumstances before the accounts are drawn up, since eligibility depends on your size and on whether any exclusions apply to your company. Our role is to work through your bookkeeping and records with you, prepare FRS 105 Micro Entity Accounts that fit your company’s position, and explain clearly what each figure represents so you can approve the accounts with confidence.

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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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 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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 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. 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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─── FRS 105 EXPLAINED

FRS 105 Explained: What the Micro-Entities Regime Means for Your Accounts

FRS 105 is the UK financial reporting standard that applies to companies choosing to use the micro-entities regime. In plain terms, it is a simplified accounting framework: qualifying companies can prepare shorter financial statements with a reduced set of notes, and the accounts are built around a straightforward view of what the company owns, what it owes, what it has earned and what it has spent. The micro-entities regime is a choice, not an automatic entitlement. A company has to fall within the size criteria and not be excluded for another reason, and even then, it is the company that decides whether to apply the regime. FRS 105 only comes into play once that decision has been made — which is why you will often hear the two discussed together as FRS 105 Micro Entity Accounts. For directors in Northfleet, the practical benefits are usually clarity and reduced preparation effort. You still need accurate records, a properly reconciled balance sheet and a profit and loss account that matches your underlying bookkeeping. The difference is the volume of disclosure and the level of detail expected, which makes the whole exercise more proportionate for a genuinely small trading company. Understanding where the regime ends is just as important as understanding what it allows, so it is worth confirming your position each year rather than assuming last year’s treatment still applies.

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, balance sheet total of no more than £500,000, and an average of no more than 10 employees. Those are the headline size conditions, and they are the starting point rather than the whole answer. Other eligibility rules and exclusions can apply, and certain types of entity are not able to use the regime at all, so meeting the size thresholds alone does not automatically guarantee that a company can prepare FRS 105 Micro Entity Accounts. Eligibility can also change from one period to the next — a year of unusually strong trading, an acquisition, or a change in the number of people employed can all affect whether the conditions are still met. On top of that, choosing to apply the regime is a separate decision from being able to apply it, and some directors prefer a fuller reporting framework because of lender, investor or group requirements. For companies in Northfleet, the sensible approach is to review your position against the current rules each year, confirm whether any exclusions are relevant, and then decide whether the micro-entities regime is the right basis for that period’s accounts.

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 with Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts well comes down to two things: getting the numbers right and presenting them under the correct framework. We start from your financial records — bank statements, sales and purchase information, payroll records, asset purchases, loan agreements and any other supporting documents — and build the financial statements from there, so the accounts reflect what actually happened in the period rather than an estimate. Where a figure needs judgement, such as how an item is classified or whether a disclosure is required, we explain the reasoning to you before the accounts are finalised, because directors remain responsible for approving the accounts that are filed. Two separate obligations usually sit alongside each other here. The first is preparing the financial statements and filing the required accounts with Companies House. The second is your Corporation Tax position, which is dealt with through a Company Tax Return (CT600) submitted to HMRC and is not the same thing as the accounts themselves. We keep that distinction clear so you always know what is being prepared, what is being filed, and where each document goes. Our focus is on careful, accurate, appropriately presented FRS 105 Micro Entity Accounts for Northfleet companies, supported by open communication throughout the process.

ICAEW

ACCA

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Get Help with Your FRS 105 Micro Entity Accounts in Northfleet

If you would like support with your FRS 105 Micro Entity Accounts, we are ready to talk through your situation. Tell us about your company — what it does, how it is structured, when your accounting period ends and how your records are currently kept — and we can discuss whether the micro-entities regime is the right fit for you and what a sensible next step looks like. It also helps to know whether you have filed accounts before, whether this is your first set of accounts, and whether there have been any changes during the year such as new borrowing, asset purchases or a change in trading activity. Share what you have and we will explain the information we need from you, how the accounts will be prepared, and how the financial statements and any other filings are handled separately. There is no need to have everything tidy before you get in touch; a conversation about your circumstances is usually the quickest way to work out what is required.

─── 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 choosing to use the micro-entities regime. It sets out how qualifying micro-entities prepare their financial statements, including the formats available for the balance sheet and profit and loss account and the reduced level of disclosure required compared with larger reporting frameworks. It is an accounting standard, not a tax regime, so it affects how your accounts are presented rather than how your tax is calculated.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the micro-entities regime and then choose to apply it. Qualifying depends on meeting the relevant size conditions and on not being excluded for another reason, such as being a particular type of entity that the regime does not cover. Meeting the size test does not by itself guarantee eligibility, and eligibility should be reviewed for each accounting period rather than assumed to continue indefinitely.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a mandatory one. A company that falls within the size criteria can generally choose to apply the regime and prepare FRS 105 Micro Entity Accounts, or it may instead prepare accounts under a different framework such as FRS 102. Even where the regime is available, the decision rests with the company, and the choice should reflect what the directors need from the accounts and any other requirements that apply.

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, balance sheet total of no more than £500,000, and an average of no more than 10 employees. These are the headline size conditions, and other rules and exclusions can affect whether the micro-entities regime is actually available to a particular company, so the criteria should be checked against your specific circumstances.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes of entity. FRS 105 is the micro-entities standard and is deliberately simplified, with shorter financial statements and far fewer disclosure requirements. FRS 102 is used more widely and contains more detailed recognition, measurement and disclosure requirements. A company that qualifies for the micro-entities regime may still choose FRS 102 — for example, if a lender or investor wants a fuller set of accounts — so the two are alternatives rather than a sequence.

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

Where a company is required to file accounts, those accounts are filed with Companies House, and FRS 105 Micro Entity Accounts prepared under the micro-entities regime are filed in the same way as other accounts, subject to the filing requirements that apply to your company. Filing the accounts and dealing with Corporation Tax are separate processes: the accounts go to Companies House, while the company's tax position is dealt with through a Company Tax Return (CT600) submitted to HMRC. A Confirmation Statement is a further, separate filing.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 if it qualifies for the micro-entities regime and chooses to apply it. In the first accounting period, the same size conditions are assessed, although the figures may need to be considered on the basis appropriate to a first period rather than a full year of trading. Because a first set of accounts often involves one-off items such as share capital, start-up costs and director's loan movements, it is worth reviewing the position before the accounts are prepared.

What information is needed to prepare FRS 105 accounts?

Typically we need your bank and credit card statements for the period, sales and purchase records, payroll and subcontractor information, details of any assets bought or sold, loan and hire purchase agreements, expense receipts, and any previous accounts or filings. If your records are kept in accounting software, granting access is usually the quickest route. We will confirm exactly what is required once we understand how your company operates and how your bookkeeping is currently organised.

What changes are coming to micro-entity accounts filing?

Reporting requirements in the UK do change from time to time, including how accounts are prepared and submitted, and the detailed rules can shift between periods. Rather than relying on general summaries, it is worth checking the current position for your own accounting period before your accounts are drawn up. We keep the specific requirements for your company's period in view when preparing your FRS 105 Micro Entity Accounts and will flag anything that affects what you need to do.

Do FRS 105 accounts show a true and fair view?

The micro-entities regime is designed to be proportionate, so FRS 105 accounts are prepared under that framework rather than the broader true and fair override approach used by some larger entities. In practice, that means the accounts follow the standard's recognition and measurement rules and present the required information in the permitted formats. Accurate underlying records still matter a great deal, because the accounts are only as reliable as the bookkeeping they are built from.