─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Reigate

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework designed for qualifying micro-entities that choose to apply the UK micro-entities regime. For small companies in Reigate, FRS 105 can offer a simpler, more streamlined basis of accounts preparation than fuller reporting standards, with reduced disclosure requirements and a format built around the needs of genuinely small businesses. Professional preparation helps ensure the accounts are put together appropriately for your company’s particular circumstances — reflecting the nature of your trading activity, the records you hold, and the reporting requirements that apply to your accounting period. It also means the figures in your FRS 105 financial statements can be prepared consistently, with the balance sheet, notes and any supporting detail considered in the light of the micro-entities regime rather than a one-size-fits-all template. Eligibility is not automatic, so it is worth reviewing your position each year before deciding whether FRS 105 remains the right framework for your Reigate company.

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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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   3rd Hub 
 
 
 
 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

What Is FRS 105? The Micro-Entities Regime Explained

FRS 105 is the UK financial reporting standard that applies when a qualifying company chooses to use the micro-entities regime. In simple terms, it sets out how very small companies prepare their annual financial statements, and it is deliberately lighter than the standards used by larger businesses. Under FRS 105, the accounts focus on a small number of core statements — typically a balance sheet, a profit and loss account and a limited set of notes — and the measurement rules are kept straightforward. The key point is that the micro-entities regime is an option, not a requirement: a company must first qualify as a micro-entity, and then it may choose to apply the regime. FRS 105 is the framework that applies when that choice is made. If a company does not qualify, or decides not to use the micro-entities regime, a different reporting standard such as FRS 102 would generally be relevant instead. For directors of small companies in Reigate, understanding which framework applies is an important early step, because it shapes the content, layout and level of detail in the annual accounts.

Who Can Use FRS 105 in the UK?

FRS 105 is available to companies in the UK 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 a starting point rather than a guarantee, because the regime also has its own rules and exclusions, and certain companies may be prevented from using it regardless of their size. Eligibility can also change over time as a business grows or restructures, so it is worth reviewing each accounting period. For companies in Reigate, the practical approach is to look at the specific figures and circumstances for the period, confirm whether the micro-entities regime is available and appropriate, and then prepare the FRS 105 financial statements on that basis. Where a company does not qualify, or decides not to use the regime, another reporting framework would generally apply instead.

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 properly starts with your company’s financial records — bookkeeping, bank transactions, invoices, expenses, payroll information and any asset or liability details — and applies the reporting requirements of the micro-entities regime to produce a clear set of financial statements. Professional support can help with the technical side of that process: making sure the balance sheet and profit and loss account are presented in an appropriate format, that disclosures are included where required, and that the figures are consistent with the underlying records. It is important to keep the different filing obligations distinct. The FRS 105 financial statements form part of the annual accounts, which are generally filed with Companies House, while Corporation Tax is dealt with separately through a Company Tax Return (CT600) submitted to HMRC. Preparing the accounts and preparing the tax return are related but distinct tasks, and neither should be confused with the other, nor with the Confirmation Statement, which is a separate Companies House filing confirming company details. Working with a professional accountant gives you a considered review of your position and a set of accounts prepared with your circumstances in mind, rather than an assumption that the micro-entities regime automatically applies.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Reigate

If you run a small company in Reigate and want to understand whether FRS 105 Micro Entity Accounts are right for your business, the best next step is a straightforward conversation about your circumstances. We can talk through your company’s position, the accounting period in question, and the records you already hold, so you have a clear picture of what is involved. To help assess your requirements, it is useful to have details such as your company’s recent accounts or trial balance, an indication of turnover, balance sheet total and employee numbers, and any information about changes in your business over the year. Whether you are preparing accounts for the first time, switching framework, or simply want your annual financial statements handled carefully, we can review your situation and explain the options available. Get in touch to discuss your FRS 105 Micro Entity Accounts requirements.

─── 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 provides a simplified basis for preparing annual financial statements, with a reduced set of primary statements and limited disclosure requirements compared with fuller standards. It is the framework that applies when a qualifying company chooses the micro-entities regime, rather than a separate filing or tax regime in its own right.

Who can use FRS 105?

FRS 105 is intended for companies that qualify as micro-entities and that choose to apply the micro-entities regime. Qualifying depends on meeting the relevant size conditions and on not being excluded by any of the other eligibility rules. Because both the size tests and the exclusions matter, it is worth checking your position for each accounting period rather than assuming the same treatment applies year after year.

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 may choose to apply it — and FRS 105 applies when that choice is made — but a qualifying company may instead prepare accounts under a different framework, such as FRS 102, if that better suits its circumstances or the needs of its users.

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. Meeting those size conditions is not the whole picture, as other eligibility rules and exclusions can also apply, so the criteria should be reviewed carefully in each case.

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 lighter framework used with the micro-entities regime and is limited to qualifying micro-entities, with simpler measurement and fewer disclosures. FRS 102 is a broader standard used by many small and medium-sized companies, and it generally involves more detailed recognition, measurement and disclosure requirements. Which one applies depends on whether the company qualifies for, and chooses, the micro-entities regime.

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

FRS 105 Micro Entity Accounts form part of a company's annual accounts, and annual accounts are generally filed with Companies House. The exact filing route and any options available depend on the company and the period concerned. It is worth keeping this separate in your mind from Corporation Tax, which is handled through a Company Tax Return (CT600) submitted to HMRC, and from the Confirmation Statement, which is a distinct Companies House filing.

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

Yes. The FRS 105 financial statements are the accounting and financial reporting output, while the CT600 is a Corporation Tax filing submitted to HMRC to report the company's taxable position. The accounts usually provide the starting point for the tax computation, but the two are separate documents with separate purposes, deadlines and submission routes, and one does not replace the other.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105 if it qualifies as a micro-entity and chooses to apply the micro-entities regime for the period in question. New companies often have limited trading history, so the size conditions may be easier to assess in the first period, but the other eligibility rules and exclusions still need to be considered. It is sensible to review the position before preparing the first set of accounts.

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

Typically you would provide your bookkeeping records or a trial balance, bank statements, details of sales and expenses, payroll or employee information, and any records of assets, liabilities, loans or directors' transactions. Details of share capital, any dividends paid and prior year figures are also useful. Having this information ready helps the accounts be prepared accurately and in good time, and it supports the separate work needed for tax reporting.