─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Windermere

FRS 105 provides the financial reporting framework for qualifying micro-entities that choose to apply the UK’s micro-entities regime. It allows eligible companies to prepare simpler, shorter financial statements than those required under other accounting standards, with reduced disclosure and a historical cost basis. Professional preparation helps make sure your FRS 105 Micro Entity Accounts reflect your company’s actual circumstances — its income, costs, assets and liabilities — and are presented in line with the applicable reporting requirements. If you run a small company in Windermere, we can look at your records, confirm whether the micro-entities regime is available to you, and prepare accounts that are clear, consistent and properly documented. Eligibility depends on your company’s size and on other rules and exclusions, so it is always worth checking before you decide which framework to use.

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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 
    
 
 
 
   
 
 
       Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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 .
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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 Regime in Plain English

In simple terms, FRS 105 is the accounting standard that applies when a company uses the UK micro-entities regime. It exists so that the smallest companies can prepare financial statements without the heavier measurement and disclosure requirements that come with larger frameworks. Qualifying companies can choose to apply the micro-entities regime, and where that choice is made, FRS 105 is the standard used to prepare the accounts. That usually means a balance sheet, a profit and loss account and a small number of notes, with assets and liabilities generally measured at historical cost. There is no fair value accounting, no revaluation and far less disclosure than under FRS 102. For many business owners in Windermere, that simplicity is the appeal: FRS 105 Micro Entity Accounts are quicker to prepare, easier to read and still proper statutory accounts, provided the company genuinely qualifies for the regime and applies it correctly.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and choose to apply it. Size is the starting point. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 3 applicable 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 is not the whole story, however. Other eligibility rules and exclusions can apply — for example, companies that prepare group accounts or are included in consolidated group accounts are generally excluded — so a company can be small enough on the numbers and still not be able to use the regime. For companies in Windermere and across the UK, the sensible approach is to check both the size conditions and the wider rules, then decide whether FRS 105 Micro Entity Accounts or another framework best suits the business.

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 Micro Entity Accounts and Accurate Financial Reporting

FRS 105 accounts are built from your company’s financial records and prepared in line with the applicable reporting requirements. We work through your bookkeeping, bank records, sales and purchase information, payroll, loans and asset purchases, then bring the figures together into a structured set of financial statements. Those statutory accounts are prepared for the company and its members, and filing them at Companies House is a separate step with its own requirements. Corporation Tax is separate again: a CT600 is a Corporation Tax Return submitted to HMRC, and the tax computation can include adjustments that do not appear in the accounts themselves. Keeping these elements distinct helps avoid confusion about what is being filed, where and why. If you are unsure what applies in your case, we can talk you through the framework, the records needed and the basis on which the figures are presented, so your FRS 105 Micro Entity Accounts are clear, consistent and supported by the underlying paperwork.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts

If you run a small company in Windermere and you think FRS 105 Micro Entity Accounts may suit your business, get in touch. Tell us a little about your company — what it does, how it is structured, and what your records look like — and we can talk through whether the micro-entities regime is likely to be available to you and how the accounts would be prepared. We will explain what information we need, answer your questions about FRS 105 financial statements, and set out clear, transparent pricing before any work begins. There is no obligation and no jargon, just a straightforward conversation about your circumstances. Simply start the discussion and we will take it from there.

─── 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 accounting standard that applies to the micro-entities regime. It sets out how qualifying companies that choose that regime recognise, measure and present items in their financial statements. It is deliberately simpler than other standards: assets and liabilities are generally measured on a historical cost basis, fair value accounting and revaluation are not used, and the disclosure requirements are much reduced. For a qualifying company in Windermere, FRS 105 Micro Entity Accounts normally consist of a balance sheet, a profit and loss account and a short set of notes, prepared from the company's financial records.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the UK micro-entities regime and choose to apply it. Eligibility is based on size and on other rules. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 3 applicable 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. Certain companies are excluded, for example those that prepare group accounts or are included in consolidated group accounts, so meeting the size conditions alone does not automatically mean a company can use FRS 105.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a requirement. A qualifying company can choose to apply it, in which case FRS 105 applies, or it can prepare its accounts under another framework such as FRS 102 Section 1A for small entities. The decision often comes down to who will read the accounts and what they need from them. FRS 105 gives a shorter, simpler set of financial statements, while FRS 102 offers more presentation and measurement options along with greater disclosure. We can help you weigh up the practical differences for your company.

What is the difference between FRS 105 and FRS 102?

FRS 102 is a broader standard used by a wide range of entities, with Section 1A applying to small entities. It allows more measurement choices, such as fair value accounting and revaluation of certain assets, and requires more disclosures. FRS 105 is far more streamlined and is designed specifically for qualifying micro-entities that choose the micro-entities regime. The trade-off is straightforward: FRS 105 accounts are quicker and cheaper to prepare and easier to read, but they carry less information for lenders, investors or anyone wanting a fuller picture of the business.

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

Yes. Where accounts are prepared under the micro-entities regime, the statutory accounts still need to be filed at Companies House, unless a specific exemption applies to your company. The format filed can be more streamlined than a full set of accounts, which is one of the practical benefits of the regime. Filing your accounts is a separate exercise from filing a Corporation Tax Return, and the two are dealt with by different bodies. If you are unsure about the filing position for your company, we can point you to the current requirements.

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. A CT600 is the Corporation Tax Return submitted to HMRC. Both are based on the same underlying accounting records, but they serve different purposes and go to different places. The tax computation starts from the profit in the accounts and may include adjustments that never appear in the financial statements, such as disallowable expenses or capital allowances. Good records make both the accounts and the tax return easier to prepare accurately.

Can a new limited company use FRS 105?

A newly incorporated company can prepare FRS 105 Micro Entity Accounts if it qualifies for the micro-entities regime and chooses to apply it. In the first accounting period, eligibility is assessed against the applicable size conditions for that period, and any exclusions still need to be considered — for example if the company is part of a group. Many new companies are small enough to come within the regime, but it is not automatic. It is worth checking the position early, ideally before the first set of accounts is due, so the records are kept in a way that supports the framework being used.

What changes are coming to micro-entity accounts filing?

Companies House has been reforming how accounts are filed as part of wider company law changes, including a move towards accounts being filed in a structured, software-based format for small and micro-entity companies. The intention is to improve the quality and consistency of the information held on the register. Requirements and timings can be updated as the reforms are phased in, so it is worth checking current Companies House guidance before you file. We keep the practical impact in mind when preparing FRS 105 Micro Entity Accounts, so the figures are presented in a way that fits the filing route you use.