─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Ringwood

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying micro-entities which choose to use the UK micro-entities regime. In simple terms, FRS 105 sets out how such companies measure and present their financial statements, allowing a simplified, historical cost based approach with reduced disclosure compared with larger reporting frameworks. If your company is based in Ringwood or the surrounding Hampshire area and you believe it may fall within the micro-entities regime, professional preparation can help ensure your FRS 105 financial statements are put together appropriately for your company’s own circumstances, activities and financial records. Eligibility is not automatic — it depends on whether the company meets the relevant size conditions and is not caught by any of the applicable rules or exclusions — so it is worth having your position reviewed before the accounts are prepared and filed.

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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

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

FRS 105 is the UK financial reporting standard written specifically for micro-entities. It sits alongside the micro-entities regime in company law, which is a simplified accounting framework that qualifying companies can choose to apply instead of a fuller standard such as FRS 102. Where a company qualifies for the regime and decides to use it, FRS 105 is the standard that governs how its financial statements are prepared — how assets and liabilities are measured, what the balance sheet looks like, and how much disclosure is needed in the notes. In practice, FRS 105 tends to suit very small, straightforward trading companies because it keeps things lean: it works on a historical cost basis, avoids fair value adjustments and revaluations, and requires far less supporting disclosure than the alternatives. It is important to remember two things. First, using the micro-entities regime is a choice, not something that happens automatically. Second, FRS 105 is a set of accounting and reporting rules — it is not a tax return, and it does not replace the separate filings a company must make to Companies House and HMRC. For directors in Ringwood weighing up how best to report their company’s results, understanding this distinction is usually the starting point.

Who Can Use FRS 105 in the UK?

FRS 105 is available to UK companies that qualify for the micro-entities regime and choose to apply it. The size test is the usual first checkpoint: for accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the 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. Meeting those conditions does not automatically make a company eligible, however. The micro-entities regime is subject to further rules and exclusions, and certain types of company cannot use it whatever their size, so the position has to be considered for the specific company and the specific accounting period. Choosing the regime is also a decision the directors make, and once FRS 105 is applied it should be used consistently, with any change of framework handled properly. For directors in Ringwood running a small trading company, that means the sensible approach is to check eligibility against the current rules first, then decide whether the micro-entities regime and FRS 105 Micro Entity Accounts are the right fit for how the company reports.

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 is about more than filling in a template. The figures need to be built up from your company’s financial records — bookkeeping, bank statements, sales and purchase information, asset details, loan balances and any other relevant documentation — and then presented in line with FRS 105 and the applicable reporting requirements. That means applying the micro-entity measurement rules consistently, making sure the balance sheet agrees to the underlying records, and including the disclosures that a micro-entity is expected to provide. It also means keeping the different obligations apart: the preparation of the financial statements and the filing of accounts at Companies House is one exercise, while Corporation Tax is a separate matter dealt with through a Company Tax Return (CT600) submitted to HMRC. A professionally prepared set of FRS 105 accounts gives you a clear, defensible record of your company’s position and a reliable base from which the tax position can be considered, while keeping the reporting to the simplified level the regime allows.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Ringwood

If you run a small company in Ringwood and want your FRS 105 Micro Entity Accounts handled properly, the next step is a straightforward conversation about where your business stands. Tell us about your company — its activities, how long it has been trading, the accounting period you need accounts for, and the records you already keep — and we can look at whether the micro-entities regime is likely to be available to you and what preparing FRS 105 financial statements would involve in your case. Bring along your bookkeeping, bank and finance information, and any details of assets, liabilities and loans, so the accounts can be built from complete records rather than estimates. Whether you are preparing accounts for the first time, switching framework, or simply want the reporting taken off your desk, we can talk you through the options, explain the process clearly, and set out our fixed-fee approach before any work begins.

─── 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 set of accounting and disclosure requirements built around historical cost, so qualifying micro-entities can prepare financial statements without the fair value adjustments, revaluations and extensive notes that larger frameworks demand. Where a company qualifies for the micro-entities regime and chooses to apply it, FRS 105 is the standard that governs the accounts.

Who can use FRS 105?

FRS 105 is intended for companies that both qualify for the UK micro-entities regime and choose to apply it. Qualifying generally means meeting the micro-entity size conditions and not falling within any of the applicable exclusions — for instance, certain regulated or financially active businesses may be excluded regardless of their size. Because eligibility depends on the company's own circumstances and the specific accounting period, it is worth confirming before the accounts are prepared rather than assuming the regime is available.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting framework, not a mandatory one. A company that qualifies can choose to apply the micro-entities regime and therefore FRS 105, or it can prepare its accounts under a fuller standard such as FRS 102, including the small companies provisions. Once a framework is adopted it should be applied consistently, and any change of framework should be considered carefully because it affects comparability between periods.

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 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 the usual starting point, but other eligibility rules and exclusions can still apply, so the size test alone does not guarantee that the micro-entities regime is available.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they operate at different levels of complexity. FRS 105 is the micro-entity standard: historical cost measurement, minimal disclosure and a deliberately simple presentation. FRS 102 is a broader standard used by small and larger entities, and it permits or requires things FRS 105 does not — such as fair value accounting for certain items, revaluations, deferred tax and significantly more note disclosures. FRS 105 also places restrictions on some accounting policy choices precisely because it is designed to keep micro-entity reporting streamlined.

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

Yes. Micro-entity accounts prepared under FRS 105 still form part of the company's annual accounts and are filed at Companies House for the relevant accounting period. Under the micro-entity regime the filed accounts are simplified — typically a balance sheet with the required notes — and the profit and loss account does not have to be filed. The annual accounts filing is separate from the confirmation statement, which is a distinct Companies House filing covering company details rather than financial results.

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

Yes, they are separate obligations. FRS 105 accounts are the financial statements prepared under the micro-entities regime, while the CT600 is the Company Tax Return submitted to HMRC to report the company's corporation tax position. The accounts and the tax computation are linked — the accounting figures feed into the tax calculation, with adjustments where tax rules differ from accounting treatment — but the documents themselves serve different purposes and go to different bodies.

What information is needed to prepare FRS 105 accounts?

Useful starting points include your bookkeeping or accounting records for the period, bank statements and reconciliations, details of sales and purchases, a list of debtors and creditors, stock or work in progress figures where relevant, fixed asset additions and disposals, loan and hire purchase balances, share capital details, director's loan account movements, and the previous year's accounts for comparison. The more complete and up-to-date the records are, the more straightforward it is to prepare reliable FRS 105 financial statements.