─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Rowledge

FRS 105 provides the financial reporting framework that qualifying micro-entities use when they choose to apply the UK micro-entities regime. For directors in Rowledge, that choice affects how the annual accounts are put together, what they include and how the figures are presented. FRS 105 Micro Entity Accounts are prepared on a simpler, more streamlined basis than the standards applied by larger companies, with financial statements built from the company’s own records and tailored to its circumstances. Professional preparation helps ensure the accounts are drawn up appropriately, that the disclosure requirements of the regime are followed, and that the numbers agree with the underlying bookkeeping, so the resulting financial statements can be filed with Companies House and used by directors, lenders and other interested parties. Not every small company qualifies for the micro-entities regime, and eligibility depends on the applicable size conditions as well as the rules and exclusions that apply to the company, so it is worth checking the position carefully before deciding how the accounts should be prepared.

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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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 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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 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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 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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 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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─── FRS 105 EXPLAINED

FRS 105 Explained: The Accounting Framework for Qualifying Micro-Entities

FRS 105 is the UK financial reporting standard written specifically for micro-entities. It sits alongside the micro-entities regime, which is an available accounting regime that qualifying companies can choose to apply instead of the fuller standards used by larger businesses. When a company qualifies for that regime and decides to use it, FRS 105 is the standard it applies — which is why people often talk about FRS 105 Micro Entity Accounts as a single subject. In practice, FRS 105 keeps things straightforward: the financial statements are based on the company’s bookkeeping records, the emphasis is on a clear balance sheet and profit and loss position, and the disclosure requirements are much lighter than those under FRS 102. There are trade-offs — the simpler measurement rules mean some figures are prepared on a different basis — and the micro-entities regime is a choice rather than a default, so it is sensible to look at the company’s size, its circumstances and what the directors, lenders or investors need from the accounts before deciding. For directors in Rowledge running a small limited company, understanding FRS 105 is usually the first step to knowing whether this route suits them.

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

FRS 105 is available to companies that qualify for the UK micro-entities regime and decide to apply it. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 3 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 conditions are a starting point rather than the full picture. Other eligibility rules and exclusions apply, and some types of company cannot use the micro-entities regime regardless of their size, so meeting the thresholds does not automatically mean a company qualifies. On top of that, applying the regime is a choice — a qualifying company can still prepare accounts under a fuller standard if that suits its circumstances better. For directors in Rowledge, that means considering the company’s size, its legal form, its ownership and the needs of those who read the accounts before deciding whether FRS 105 Micro Entity Accounts are the right route.

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 are only as useful as the records behind them. Professional preparation starts with the company’s bookkeeping, bank records, invoices, expense information and asset details, and then builds a set of financial statements that presents the company’s position under the micro-entities regime. That work typically covers the balance sheet, the profit and loss account and the supporting notes required for FRS 105 financial statements, together with a version of the accounts prepared in the format accepted for filing at Companies House. It is important to keep the different obligations separate: the FRS 105 accounts deal with the accounting and financial reporting side, filing at Companies House covers the statutory accounts submission, and a Corporation Tax Return (CT600) is a separate filing made to HMRC. Preparing the accounts methodically — and checking that they are consistent with the underlying records and with the reporting requirements that apply — gives directors a firmer basis for the decisions that follow. No adviser can guarantee a particular outcome or acceptance by any authority, but a careful approach reduces the risk of avoidable errors, inconsistencies and last-minute corrections.

ICAEW

ACCA

AAT

Speak to Us About Your FRS 105 Micro Entity Accounts in Rowledge

If your company may qualify for the micro-entities regime and you would like help with FRS 105 Micro Entity Accounts, get in touch to talk through your position. Tell us about your business, the accounting period you need to cover, how your records are currently kept, and whether you also need support with Companies House filing or your Corporation Tax Return, and we can assess what is involved. Share your bookkeeping, bank and expense information along with details of any assets, liabilities, directors’ loans or other items that affect the figures, and we can explain the options open to you and how the work would be handled. There is no obligation to proceed — the aim is simply to give you a clear picture of what your FRS 105 accounts would involve before you commit.

─── 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 accounts, including the balance sheet, the profit and loss account and the limited notes that accompany them. It is deliberately simpler than the standards used by larger companies, with lighter disclosure requirements and a more straightforward measurement basis, which is why it is often described as the micro-entity accounting standard.

Who can use FRS 105?

FRS 105 is intended for 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 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 conditions are the starting point rather than the whole answer, because other eligibility rules and exclusions can apply to certain companies, and using the regime is a decision the directors make. It is worth checking your position rather than assuming FRS 105 applies.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a mandatory one. A qualifying company can choose to apply it and prepare FRS 105 accounts, or it can prepare accounts under a fuller standard such as FRS 102. The decision belongs to the directors, and it is often influenced by what the readers of the accounts — lenders, investors, group companies or the directors themselves — need from the financial statements.

What is the difference between FRS 105 and FRS 102?

Both are UK accounting standards, but they are aimed at different sizes of entity. FRS 102 is generally used by small and larger entities and includes fair value accounting, deferred tax and far more extensive disclosures. FRS 105 is the micro-entities standard: it permits a simpler measurement basis, tends to keep the accounts close to a straightforward historical cost position, and requires far fewer notes. That simplicity can make the accounts quicker to prepare, but the trade-off is that the financial statements carry less detail and may look different in some areas from accounts prepared under FRS 102.

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

In most cases, yes. A company that prepares FRS 105 accounts for its statutory financial year will normally need to file accounts with Companies House as part of its annual obligations, using a format and filing method that Companies House currently accepts for micro-entity accounts. Filing the accounts is a separate step from the accounting work itself and from anything required by HMRC, and the accepted filing routes for small and micro-entity accounts are changing over time, so it is sensible to confirm the current method before you file.

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

Yes, they are separate. FRS 105 Micro Entity Accounts are the company's statutory financial statements prepared under the micro-entities regime, while a Corporation Tax Return (CT600) is a tax filing submitted to HMRC. The two are connected — the figures in the accounts usually form the starting point for the tax computation — but they serve different purposes, go to different bodies and can have different deadlines. Preparing the accounts does not, on its own, deal with the company's Corporation Tax obligations, and filing a CT600 does not replace the requirement to prepare and file accounts.

What information is needed to prepare FRS 105 accounts?

Typically we would need the company's bookkeeping or accounting records for the period, bank statements and reconciliations, sales and purchase information, details of expenses, payroll or director payments, and a list of assets and liabilities — including any loans to or from directors. Details of stock or work in progress, any grants received, and the previous year's accounts are also helpful. The more complete and up-to-date the records, the more straightforward it is to prepare accurate FRS 105 financial statements.

Are the rules for filing micro-entity accounts changing?

Filing arrangements for small and micro-entity accounts at Companies House are being updated, with a move towards accounts being filed using software rather than the previous online or paper routes for many companies. These changes are being introduced in stages, and the exact position depends on your company's circumstances and accounting period. The safest approach is to check the current Companies House guidance, or ask us to confirm what applies to you, before your next accounts filing.