─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Stanmore

FRS 105 Micro Entity Accounts are the simplified financial statements prepared under the UK micro-entities regime, and for many small companies in Stanmore they offer a practical, proportionate way to meet annual reporting obligations. FRS 105 provides the financial reporting framework that applies when a qualifying company chooses to use that regime, allowing a shorter balance sheet, limited notes and a set of accounts designed around the needs of genuinely small businesses. Eligibility is not automatic and depends on the company meeting the relevant size conditions and not falling within any of the applicable exclusions, so it is always worth checking the position for the specific accounting period rather than assuming it applies. Professional preparation helps ensure the accounts are built correctly from your underlying records, presented in a format consistent with FRS 105, and aligned with the information you file at Companies House. Working with someone who deals with FRS 105 Micro Entity Accounts regularly means fewer last-minute questions, a clearer picture of your reported position, and accounts that reflect the actual circumstances of your Stanmore 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

FRS 105 Explained: The Micro-Entities Reporting Framework

FRS 105, formally Financial Reporting Standard 105, is the UK accounting standard written specifically for companies that qualify for the micro-entities regime. In plain terms, it is a simplified rulebook for preparing annual financial statements: assets are generally kept at cost less any impairment, there is no revaluation or fair value accounting, and the disclosure requirements are far lighter than those under larger-company frameworks. The important point is that the micro-entities regime is a choice, not an obligation. A company that qualifies can decide to apply it, and FRS 105 is the standard that applies when that decision is made; a company that qualifies but prefers a fuller framework may use something else instead. FRS 105 Micro Entity Accounts are still real statutory accounts — they include a balance sheet and notes and are filed at Companies House — but they are deliberately pared back so that owners of small companies in Stanmore can meet their reporting duties without the cost and complexity designed for larger businesses. What FRS 105 does not do is change your tax position or replace your other filings; it governs how the accounts themselves are prepared and presented.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and that choose to apply it — qualifying is a matter of meeting the relevant rules, not simply being small. 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. That test is usually applied to the accounting period being reported on, which means eligibility can change from year to year as the business grows, contracts or takes on staff. Meeting the size conditions is not the whole story. Other eligibility rules and exclusions can apply, and some companies are not permitted to use the regime at all. So while the thresholds are a useful starting point for a Stanmore company wondering whether FRS 105 Micro Entity Accounts might be appropriate, they should not be treated as a guarantee of eligibility. The regime is also optional: a company that does qualify may still prefer a fuller reporting framework. Reviewing your specific circumstances before deciding is the sensible approach.

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 well starts with good records. We work from your bookkeeping, bank and card statements, sales and purchase records, payroll information and details of any assets or loans, then build a balance sheet and supporting notes that reflect your company’s actual position for the period. The focus is on accurate financial reporting under the framework you have chosen: consistent accounting policies, sensible judgements where estimates are needed, and a presentation that matches the micro-entity format rather than a generic template. Alongside the accounts themselves, it helps to keep the different obligations separate in your mind. Preparing and filing the financial statements at Companies House is one task. Corporation Tax is another: a CT600 is a separate return submitted to HMRC, and while it draws on the same underlying figures, it follows tax rules rather than accounting ones. Confirmation Statements are separate again. We can help you understand which filing is which, prepare the accounts on the basis of the information you provide, and support you through the Companies House filing process. What we cannot do is guarantee any particular outcome or acceptance by a third party — responsibility for the accuracy and completeness of the information supplied, and for meeting your filing obligations, ultimately rests with you as a director.

ICAEW

ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Stanmore

If your Stanmore company is considering FRS 105 Micro Entity Accounts, or you simply want to know whether the micro-entities regime is the right fit for the way your business now operates, get in touch. Tell us about your company’s structure, trading activity and accounting period, share the records and information you already hold, and we can review your circumstances before advising on how to proceed. Whether you are filing micro-entity accounts for the first time, moving from a different framework, or want your existing approach sense-checked, a short conversation is usually enough to establish what is needed next.

─── 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 sets out how the annual accounts should be prepared and presented, with simplified recognition and measurement rules and much lighter disclosure requirements than the standards used by larger companies. In practice, a set of FRS 105 accounts usually comprises a balance sheet and a small number of notes, along with the statements and information the law requires for that type of filing.

Who can use FRS 105?

FRS 105 is available to companies that qualify as micro-entities for the accounting period in question and that choose to apply the micro-entities regime. Qualifying is about more than size alone — the company must meet the relevant size conditions and must not fall within any of the applicable exclusions, for example certain ineligible entity types. Because eligibility is tested period by period, a company that qualified last year is not automatically eligible this year, and vice versa.

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, in which case FRS 105 is the standard used, or it can elect to prepare accounts under a fuller framework such as FRS 102. Some owners prefer the extra detail that a larger framework provides, particularly if they are seeking finance or dealing with parties who expect more disclosure. It is a decision worth making deliberately rather than by default.

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 conditions does not automatically mean the company qualifies, because other rules and exclusions can apply, and the assessment relates to the specific accounting period being reported on. If your company sits close to any of these figures, it is worth reviewing the position carefully before assuming which regime applies.

What is the difference between FRS 105 and FRS 102?

FRS 105 is designed solely for the micro-entities regime and is deliberately the simplest option available. It generally holds assets at cost less impairment, does not permit fair value or revaluation accounting, and requires very few disclosures. FRS 102 is a broader standard that allows more accounting options and requires considerably more note disclosure, which can be useful where a company needs to present a fuller picture to lenders, investors or other readers of the accounts.

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

Yes. Micro-entity accounts prepared under FRS 105 still need to be filed at Companies House as part of the company's annual accounts filing, in the format the micro-entity regime permits. Filing the accounts is a separate exercise from preparing them, and it is separate again from other obligations such as the Confirmation Statement. It is worth being aware that Companies House filing requirements are evolving, so the method of filing may look different in future periods.

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

Yes, they are two different things. FRS 105 Micro Entity Accounts are the statutory financial statements prepared under the micro-entities regime, and the accounts are filed at Companies House. A CT600 is a Corporation Tax Return submitted to HMRC, and it follows tax legislation rather than accounting standards. The accounts figures normally provide the starting point for the tax computation, but adjustments, allowances and tax-specific rules mean the two documents will often tell a slightly different story.

What changes are coming to micro-entity accounts filing?

UK company filing requirements are being reformed, with a clear direction of travel towards filing accounts in a structured, software-based format rather than as simple PDF documents, and towards including more information — including the profit and loss account — for small and micro-entity companies. The intention is greater transparency and comparability. Because the detail and timing of these changes are matters of legislation and Companies House guidance, it is sensible to review your current process with an adviser so you are ready to adapt as the rules take effect.