─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Upton

If your company is a qualifying micro-entity and you have chosen to apply the UK micro-entities regime, FRS 105 Micro Entity Accounts are the financial statements you prepare under that framework. Our work in Upton focuses specifically on this regime rather than on general accounting services, so the accounts are built around the reporting requirements that apply to micro-entities, including the simplified presentation and reduced disclosure that FRS 105 permits. Professional preparation starts with your bookkeeping and financial records, then considers your company’s particular circumstances, such as its trading activity, the assets it holds and the way it is structured, before the financial statements are drafted. Eligibility is not automatic: a company must meet the relevant size conditions and satisfy the wider rules and exclusions before the micro-entities regime can be used, and it then has to be the regime chosen for that accounting period. If your company qualifies and selects FRS 105, we can help make sure the accounts are prepared appropriately, presented clearly and supported by figures that tie back to your records.

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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 for Upton Micro-Entities

FRS 105 is the UK financial reporting standard written specifically for micro-entities. It sits alongside the micro-entities regime, which is a set of simplified accounting rules available to companies that fall within defined size limits. In plain terms, the micro-entities regime lets a qualifying company produce shorter, simpler financial statements: the balance sheet and notes are pared back, and the level of disclosure is considerably lighter than under a fuller framework such as FRS 102. Choosing the regime is a decision, not an obligation, and FRS 105 is the standard that applies when a company does choose it. That means the accounts are still real statutory accounts, with a balance sheet and supporting notes, but they are prepared on a simplified basis that can reduce the cost and complexity of annual reporting for a small owner-managed business in Upton. Because the regime has eligibility rules and exclusions attached to it, the starting point is always to check whether your company qualifies and whether FRS 105 is genuinely the right fit for how the business is run and financed.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for UK companies that qualify for the micro-entities regime and that decide to apply it. 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, subject to the relevant rules and exclusions: 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. Some companies fall outside the regime regardless of their size, and certain types of entity are excluded altogether, so meeting the size conditions does not by itself guarantee that FRS 105 can be used. A company also has to choose the regime for the period in question. Because the rules interact with your company’s legal form, ownership structure and activities, the sensible approach for a business in Upton is to review eligibility against the actual circumstances before deciding, and to revisit that decision if the company grows, takes on investment or changes what it does.

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 be built from accurate records, which is why we begin with your bookkeeping, bank transactions, invoices, expense records and any asset or liability information relevant to the period. From there, the financial statements are drafted in line with FRS 105 and the presentation expected of a micro-entity, with a balance sheet and the accompanying notes prepared on a consistent basis from one year to the next. It is worth separating the pieces of your annual obligations: the preparation of the financial statements, the filing of those accounts with Companies House, and the submission of a Corporation Tax Return (CT600) to HMRC are three distinct tasks with different requirements and different deadlines. A CT600 is a tax filing and is not the same document as the FRS 105 accounts, even though the figures in each should be consistent with the company’s underlying records. We can help prepare the accounts and coordinate the filing of the accounts and the tax return so that the information submitted in each is aligned and clearly supported.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Upton

If you would like support with FRS 105 Micro Entity Accounts for your company, the best next step is a straightforward conversation about your circumstances. Tell us about your business, your accounting period, the records you already keep and whether you have previously prepared accounts under the micro-entities regime, and we can assess whether FRS 105 is likely to be appropriate and what would be involved in preparing your financial statements. Bring along your bookkeeping, trial balance if you have one, details of any assets or liabilities, and any correspondence about your existing accounts or filings. From there you will get a clear explanation of the process, fixed-fee options where they suit, and a practical view of what is needed from you before your accounts are prepared and filed.

─── 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 micro-entity prepares its statutory financial statements when it has chosen to apply the micro-entities regime, allowing a simplified balance sheet and a much reduced set of notes compared with fuller reporting frameworks. It is a reporting standard, not a tax regime, so it governs how the accounts are prepared rather than how much tax a company pays.

Who can use FRS 105?

FRS 105 is available to companies that qualify as micro-entities under the UK micro-entities regime and that choose to apply it. Qualifying is not just a matter of size: certain company types and circumstances are excluded from the regime, so eligibility has to be considered properly for each company. Meeting the size conditions alone does not automatically mean a company can or should use FRS 105.

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, subject to the relevant rules and exclusions. Those conditions are 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. Other eligibility rules and exclusions can still apply even where the size conditions are met, so the criteria should be checked against your company's specific position.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime rather than a mandatory one. A company that qualifies may choose to apply it, and FRS 105 then applies to the accounts for that period. Some qualifying companies decide that a fuller framework such as FRS 102 better suits their circumstances, for example where they need to present more detailed information for lenders, investors or group reporting.

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 micro-entity standard, offering a simplified balance sheet and limited disclosure. FRS 102 is the standard used by larger small companies and others, and it requires substantially more disclosure, more detailed accounting treatments and a fuller set of primary statements. Choosing between them depends on whether your company qualifies for the micro-entities regime and what the users of your accounts need to see.

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

Yes, they are separate filings. FRS 105 Micro Entity Accounts are the statutory financial statements prepared under the micro-entities regime, and they are filed with Companies House. A CT600 is a Corporation Tax Return submitted to HMRC to report the company's taxable profits. The two are prepared for different purposes and go to different bodies, although the figures in each should be consistent with the company's underlying accounting records.

Can a new limited company use FRS 105?

A newly incorporated company can apply FRS 105 if it qualifies as a micro-entity and chooses to use the micro-entities regime for its first accounting period. First-year accounts often need extra attention, for example around the date trading began, the treatment of share capital and any costs incurred before trading started, so it is worth planning the first set of accounts early rather than leaving it until the filing deadline approaches.

What information is needed to prepare FRS 105 accounts?

Typically we would need your bookkeeping records or a trial balance for the period, bank statements, sales and purchase records, details of any fixed assets and how they have changed, information on loans, directors' loans and other liabilities, plus any previous accounts filed. If your company is newly formed, incorporation documents and details of share capital are also useful. The more complete the records, the more straightforward the preparation of the financial statements tends to be.