─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Wallingford

FRS 105 Micro Entity Accounts are the streamlined statutory financial statements prepared under the micro-entities regime for companies in Wallingford and across the UK that qualify for it and choose to apply it. FRS 105 provides the financial reporting framework used by qualifying micro-entities, offering a simpler basis of preparation than the fuller standards available to larger companies. Because the regime is optional, not automatic, it is worth confirming that your company meets the relevant eligibility conditions for the accounting period in question before the accounts are drafted. Professional preparation helps ensure that your FRS 105 Micro Entity Accounts are built from accurate bookkeeping records, reflect your company’s particular circumstances, and are drawn up in line with the disclosure requirements that apply to the micro-entities regime. Whether you are a sole director company trading locally in Wallingford or a small group of connected businesses, the aim is accounts that are clear, consistent year on year, and straightforward for the reader to understand.

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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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 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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 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 
 
 
 
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─── 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. In plain terms, it is the rulebook that sets out how a qualifying company’s financial statements should be prepared when that company chooses to use the micro-entities regime. The regime is a lighter-touch alternative to the fuller reporting frameworks, which is why it tends to appeal to very small trading companies, contractors, and owner-managed businesses in Wallingford who want accounts that are simple, consistent, and proportionate to the size of the operation. FRS 105 financial statements typically comprise a balance sheet, a profit and loss account, and a small number of supporting notes, rather than the extensive disclosures you would see in larger company accounts. Importantly, FRS 105 is not imposed on every small company. A company must first qualify for the micro-entities regime under the applicable size conditions and exclusions, and then choose to apply that regime. FRS 105 applies when the micro-entities regime is chosen. If the regime is not chosen, or the company does not qualify, a different framework such as FRS 102 will be relevant instead. Understanding which framework applies to your company is the starting point for getting the reporting right.

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

FRS 105 is intended for companies that qualify for the UK 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 an important part of the picture, but it is not the whole of it. Other eligibility rules and exclusions can apply — for example, certain types of company or entities within particular structures may not be able to use the regime — and the conditions must be assessed for the relevant accounting period. It is also worth remembering that qualifying does not force a company to adopt the regime; it remains a choice. If your Wallingford company is considering FRS 105 Micro Entity Accounts, the sensible approach is to review your turnover, balance sheet total and employee numbers for the period alongside the wider rules, then decide whether the micro-entities regime is the right fit for your reporting needs.

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 good financial records. We work from your bookkeeping, bank information, sales and purchase records, and any relevant supporting documentation to build a set of financial statements that reflects what has actually happened in your business during the accounting period. The accounts are then drawn up with reference to FRS 105 and the disclosure requirements that apply to the micro-entities regime, so that the figures presented are consistent, clearly labelled, and supported by the underlying records. It is helpful to keep two distinct strands of work in mind. The first is the preparation of the financial statements themselves and, where relevant, their filing with Companies House. The second is your Corporation Tax position, which sits separately and is reported to HMRC through a Company Tax Return (CT600). FRS 105 accounts are not the same thing as a CT600, and a Confirmation Statement is a further, separate filing obligation. We can help you understand how these pieces fit together, what information is needed for each, and how to keep your records in a state that makes each deadline more manageable. The objective is straightforward, accurate reporting that matches your company’s circumstances rather than an off-the-shelf template.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Wallingford

If you would like your FRS 105 Micro Entity Accounts prepared clearly, accurately and with your company’s specific circumstances in mind, get in touch to talk through your requirements. It helps to have a short conversation about the accounting period involved, your trading activity, the records you currently keep, and whether you believe your company qualifies for the micro-entities regime. From there we can explain what information we need from you, how the preparation process works, and where Corporation Tax and other filing obligations fit in. We offer clear, transparent pricing so you know what to expect before work begins, and we are happy to answer questions about FRS 105, FRS 102, and the wider filing picture. Reach out when you are ready and we will help you take the next step.

─── 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 a simplified basis for preparing financial statements, typically a balance sheet, a profit and loss account, and a limited number of notes. It is designed to be proportionate to the size of the smallest companies and is one of several reporting frameworks a UK company might use.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the micro-entities regime and choose to apply it. Qualifying is not simply a matter of being small in a general sense — the company needs to meet the applicable size conditions for the period and must not be excluded by the relevant rules. Because exclusions and special cases exist, it is worth checking your company's position for the specific accounting period rather than assuming the regime applies.

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 may choose to apply it, but it is not obliged to do so. If the regime is not chosen, or the company does not qualify, a different framework such as FRS 102 would generally be relevant. The choice should be made with an understanding of the reporting consequences.

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, a balance sheet total of no more than £500,000, and an average of no more than 10 employees. These conditions sit alongside other eligibility rules and exclusions, so meeting the size tests alone does not automatically guarantee that the regime is available.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes and types of company. FRS 105 is the micro-entities standard and provides a simpler basis of preparation with fewer disclosures. FRS 102 is the wider standard used by many small and medium-sized companies, and it generally requires more extensive disclosures and more complex accounting judgements. Which one applies depends on whether your company qualifies for and chooses the micro-entities regime.

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

Micro-entity accounts prepared under FRS 105 are statutory accounts, and for a limited company they normally form part of what is filed at Companies House for the relevant period. The exact filing position depends on your company's circumstances and the requirements in force at the time. It is important to keep statutory accounts filing separate from your Corporation Tax reporting, which goes to HMRC rather than Companies House.

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

Yes. FRS 105 Micro Entity Accounts are financial statements prepared under the micro-entities regime, whereas a CT600 is a Company Tax Return submitted to HMRC to report the company's Corporation Tax position. They are separate exercises prepared for different recipients, even though both draw on the same underlying accounting records. A Confirmation Statement is a further separate filing and is not a set of accounts.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105, but eligibility depends on the size conditions and the relevant rules and exclusions that apply to its circumstances. In the first period of trading, the position may need to be assessed carefully. It is worth discussing your company's situation before assuming the micro-entities regime will apply, particularly if you expect growth or have group connections.

What information is needed to prepare FRS 105 accounts?

Typically we would need your bookkeeping records or accounting software data, bank and credit card statements, sales and purchase information, details of any assets and liabilities, payroll or employee information if relevant, and any loan or finance agreements. Having complete and tidy records makes the preparation process smoother and helps reduce the number of queries raised along the way.