─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Odiham

FRS 105 provides the financial reporting framework for qualifying UK micro-entities that choose to apply the micro-entities regime. If your company is based in Odiham and you are deciding how to prepare and file your annual accounts, this page explains what FRS 105 Micro Entity Accounts involve, who the regime is designed for, and how professional preparation can help ensure the accounts are put together appropriately for your company’s circumstances. Choosing the micro-entities regime is a decision rather than an automatic outcome — a company needs to meet the relevant size conditions and must not fall within any exclusion. Having FRS 105 Micro Entity Accounts prepared by someone who works with the framework regularly means your financial statements are built around the regime you have chosen, with the figures taken from your records and presented in a format suited to a smaller, straightforward business.

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FRS 105 Micro-Entity Accounts

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£399.00

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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.

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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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─── FRS 105 EXPLAINED

FRS 105 Explained: What the Micro-Entities Regime Means in Practice

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In simple terms, it is the rulebook that sets out how a very small company’s financial statements should be put together once that company has decided to use the micro-entities regime. The regime itself is an optional accounting framework: a qualifying company can choose to apply it, and where that choice is made, FRS 105 is the standard that applies. FRS 105 takes a simplified approach compared with the standards used by larger companies. It works on a cost basis, keeps note disclosures to a minimum, and produces a shorter, more streamlined set of financial statements that still reports the company’s financial position and performance. For a director of a small company in Odiham, the appeal is usually clarity and reduced administration, not complexity. What matters is that the choice is made deliberately and that the accounts are prepared in line with the framework that has been selected.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for UK companies that qualify for the micro-entities regime and then choose to apply it. Qualification is a two-part test. First, the company must satisfy the size conditions. For accounting periods beginning on or after 6 April 2025, this generally means meeting at least 2 of 3 applicable 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 during the period. Second, the company must not be caught by any of the exclusions that take an entity outside the micro-entities regime altogether. That second point matters: meeting the size thresholds on their own does not automatically guarantee eligibility, and where a period is shorter or longer than 12 months, some conditions are adjusted to reflect the length of the period. Once eligibility is established, applying the regime remains a choice, and FRS 105 applies only where that choice is made. For directors in Odiham reviewing their options, the sensible approach is to check both the figures and the exclusions before committing to a framework for the year.

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

FRS 105 Micro Entity Accounts should always be built from the company’s own financial records. That means starting with the bookkeeping, bank and payment records, sales and purchase information, asset details and any relevant supporting documentation, then turning those records into a set of financial statements prepared in line with the micro-entities regime and the FRS 105 framework the company has chosen to apply. Professional preparation helps keep the figures consistent, the presentation appropriate and the notes aligned with what the standard requires. It is also important to keep two separate obligations in view. Preparing and filing the company’s financial statements is one process; meeting Corporation Tax obligations is another. A CT600 Corporation Tax Return is submitted to HMRC separately from the accounts filed for the company, and the two are not the same document even where the underlying figures overlap. Good preparation gives you accounts you can stand behind and a clearer picture of your company’s position.

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Talk to Us About Your FRS 105 Micro Entity Accounts in Odiham

If you would like help with FRS 105 Micro Entity Accounts, the best starting point is a conversation about your company, your records and your reporting obligations. Share some background on your business, the accounting period you need accounts for, and the records you currently hold, and we can assess how the micro-entities regime applies to your circumstances and what is needed to get the financial statements prepared. If it turns out that FRS 105 is not the right fit for your company, that is worth knowing early too, because the framework you use affects how the accounts are presented. Get in touch to discuss your requirements and the information we would need from you.

─── 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 a qualifying company that has chosen to apply the micro-entities regime prepares its annual financial statements. It is a simplified framework: assets and liabilities are generally recognised on a cost basis, revaluation is not permitted, and the disclosure notes are far shorter than those required under the standards used by larger companies. The result is a concise set of accounts that still reports the company's financial position and results.

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 qualifies as a micro-entity can generally choose between applying FRS 105 and applying FRS 102 Section 1A, which is the small entities framework. FRS 105 only applies where the micro-entities regime is the regime chosen. Because the two frameworks produce different presentations and disclosures, it is worth considering which suits your company before the accounts are prepared.

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. Meeting those size conditions is not the whole test, because additional eligibility rules and exclusions apply to the micro-entities regime, and some companies are excluded from it regardless of their size.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the wider UK financial reporting standard, and Section 1A of it provides a framework for small entities. FRS 105 is narrower and more simplified, applying only to qualifying micro-entities that choose the micro-entities regime. In practice the main differences show up in measurement and disclosure: FRS 105 works on a cost basis with minimal notes, while FRS 102 Section 1A allows more accounting options and requires more disclosure. Choosing between them affects how the accounts look, so it is a decision worth taking deliberately.

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

Yes. Where a company applies the micro-entities regime, its annual accounts still need to be filed for the company at Companies House within the applicable filing requirements, and the accounts filed must be prepared on the basis chosen. FRS 105 changes how the financial statements are prepared and presented rather than removing the filing obligation. Filing the accounts is also distinct from submitting a Corporation Tax Return to HMRC.

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

Yes, they are separate filings. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under the micro-entities regime and filed for the company. A CT600 is a Corporation Tax Return submitted to HMRC to report the company's taxable profits and calculate the tax due. The two are prepared from much of the same underlying information, but they serve different purposes, go to different recipients and are governed by different rules. Preparing one does not fulfil the obligation to submit the other.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105 if it qualifies for the micro-entities regime and chooses to apply it. Where a first accounting period is shorter or longer than a year, some of the size conditions are adjusted for the length of the period, so the position is not always obvious from the headline figures. Other eligibility rules and exclusions still apply, which is why it is worth reviewing the specifics of a new company's first period rather than assuming entitlement.

What information is needed to prepare FRS 105 accounts?

Typically you would provide your bookkeeping records or a trial balance for the period, bank and payment account statements, sales and purchase information, details of any assets and liabilities, payroll information where the company employs staff, and any loan or finance agreements. It also helps to confirm the accounting period being reported, whether the micro-entities regime has been chosen, and whether there are any unusual transactions. The aim is to build the financial statements from complete and accurate records.

What changes are coming to micro-entity accounts filing?

Filing requirements for small and micro-entity companies are being updated in stages as part of wider company law reform, including a move towards filing accounts using software and changes to what is included in the accounts that are filed. Because these changes are phased in and can affect what a company submits, the practical detail is best confirmed against current official guidance at the time your accounts are due, rather than relying on older assumptions about what could be filed.