─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Watchfield

If your company is based in Watchfield and meets the criteria for the UK micro-entities regime, FRS 105 Micro Entity Accounts may be the simplest and most cost-effective way to report your financial position. FRS 105 is the financial reporting framework that applies when a qualifying micro-entity chooses to use the micro-entities regime, and it allows for a streamlined set of financial statements that still meet the relevant legal and accounting requirements. Professional preparation helps you apply the framework correctly to your own circumstances — from the way your balance sheet is presented to the disclosures that are, and are not, required. It also helps ensure your figures are consistent with your underlying accounting records and with the information you report elsewhere. Eligibility is not automatic for every small company, so the starting point is always a review of your turnover, balance sheet total, employee numbers and any exclusions that may apply before FRS 105 is adopted.

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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.

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 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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 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. 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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─── FRS 105 EXPLAINED

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

FRS 105 is the financial reporting standard that sits behind the UK’s micro-entities regime. In plain terms, it is a simplified accounting framework designed for the smallest companies, allowing a shorter balance sheet, a simpler profit and loss account and far fewer notes than larger reporting standards require. Two ideas sit at the heart of it: first, a company must qualify as a micro-entity under the applicable size rules; and second, the directors must actually choose to apply the micro-entities regime. FRS 105 only comes into play when that choice is made — it is an available regime, not an automatic one. When FRS 105 is applied, the accounts are prepared on a historical cost basis with fewer measurement and disclosure requirements, which can reduce the time and cost involved in producing annual financial statements. For a director of a Watchfield company weighing up reporting options, understanding this distinction between qualifying, choosing and applying is the key to getting the framework right.

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. 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. For a company in Watchfield, those three measures are normally assessed from the annual accounts and the company’s employee numbers, and meeting them is often the first step in deciding whether FRS 105 Micro Entity Accounts are appropriate. It is important to be clear that the size tests are not the whole picture. Other eligibility rules and exclusions can apply, and some entities cannot use the micro-entities regime at all regardless of how small they are. In addition, even where a company does qualify, applying the regime remains a decision for the directors rather than something that happens automatically. Checking eligibility carefully before adopting FRS 105 helps you avoid having to change framework partway through a reporting period.

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 reliable as the records behind them, which is why preparation starts with a clear review of your bookkeeping, bank records, ledgers and supporting documentation. From there, the financial statements are built to reflect your company’s actual position under the micro-entities regime, with the balance sheet, profit and loss account and any required notes prepared in line with the framework as it applies to your circumstances. It is important to keep the different obligations separate: preparing FRS 105 Micro Entity Accounts for the members and filing them with Companies House is a company law requirement, while your Corporation Tax position is dealt with through a separate Corporation Tax Return (CT600) submitted to HMRC. Confirmation Statements are also separate again. Working with an accountant who handles micro-entity reporting regularly means your accounts are prepared carefully, consistently and with the right level of disclosure — while you retain responsibility for approving them and for the accuracy of the information provided.

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Get Help With Your FRS 105 Micro Entity Accounts in Watchfield

Whether you are preparing your first set of FRS 105 Micro Entity Accounts or reviewing how your company currently reports, we can help you work through the detail. Tell us about your company — its trading activity, your latest turnover, balance sheet total and average employee numbers, the accounting period you need to cover, and any changes in the business since your last accounts. It also helps to know whether you already use accounting software and how your records are kept. With that information, we can assess your circumstances, explain whether the micro-entities regime looks suitable for you, and set out clear, transparent pricing for preparing your FRS 105 Micro Entity Accounts. Get in touch to start the conversation.

─── 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 supports the micro-entities regime. It sets out how qualifying micro-entity companies prepare their annual financial statements when they choose to apply that regime, offering a simplified format for the balance sheet and profit and loss account along with a much reduced set of notes compared with larger reporting frameworks.

Who can use FRS 105?

FRS 105 is available to companies that qualify as micro-entities under the applicable size rules and that choose to apply the micro-entities regime. Meeting the size conditions is the starting point, but other eligibility rules and exclusions can also apply — for example, certain entities are prevented from using the regime regardless of their size. Qualifying does not oblige you to use FRS 105; it is a choice.

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 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. The figures are assessed under the relevant rules, and certain companies are excluded from the regime altogether, so eligibility should always be checked against your specific circumstances rather than assumed.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying as a micro-entity does not automatically mean FRS 105 must be used. The micro-entities regime is one available option, and FRS 105 applies when a company chooses that regime. Some qualifying companies prefer a different framework because of the way they are structured, what their lenders or investors expect, or how they want their results presented.

What is the difference between FRS 105 and FRS 102?

FRS 102 is a fuller financial reporting standard used by a much wider range of companies, and it includes more measurement options, fair value accounting and considerably more disclosure requirements. FRS 105 is deliberately narrower and simpler: it is built specifically for qualifying micro-entities that choose the micro-entities regime, with fewer accounting policy choices and a shorter set of financial statements.

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

FRS 105 Micro Entity Accounts are used both as the company's annual financial statements and, in most cases, as the basis for the accounts filed with Companies House. Filing the accounts is a separate obligation from your Corporation Tax Return (CT600), which is submitted to HMRC, and from your Confirmation Statement. Each has its own requirements and should be dealt with on its own terms.

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

Yes. FRS 105 Micro Entity Accounts are prepared under the accounting and financial reporting framework and are filed with Companies House. A CT600 is a separate Corporation Tax filing submitted to HMRC, which uses the company's taxable profits rather than simply the figures in the accounts. Preparing the accounts and completing the tax return are related tasks, but they are distinct requirements.

What information is needed to prepare FRS 105 Micro Entity Accounts?

Typically we need your accounting records for the period — bookkeeping or software data, bank and credit card statements, sales and purchase records, payroll information, details of any fixed assets and loans, and opening balances where available. We also need your company details, the accounting period dates, and confirmation of your turnover, balance sheet total and average employee numbers so eligibility can be reviewed.