─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Witham

FRS 105 Micro Entity Accounts are the statutory financial statements prepared under the UK micro-entities regime, and they are a good fit for many small companies in Witham whose directors want simple, cost-effective reporting without unnecessary complexity. FRS 105 provides the financial reporting framework for qualifying micro-entities that choose to apply that regime, so the starting point is always eligibility: 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 — for accounting periods beginning on or after 6 April 2025, and other rules and exclusions can still apply. Professional preparation helps ensure the accounts are put together appropriately for your company’s circumstances, from the balance sheet and profit and loss account through to the required statement confirming the micro-entities basis of preparation.

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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 Framework in Plain English

FRS 105 is the UK financial reporting standard written specifically for micro-entities. It sits alongside the UK micro-entities regime, which is a set of legal rules that lets the smallest companies prepare much simpler accounts than larger businesses. In practice, FRS 105 keeps things straightforward: figures are generally measured at historical cost, there are far fewer notes than under fuller standards, and the accounts must state on the balance sheet that they have been prepared in accordance with the micro-entities regime. The important point is that the micro-entities regime is a choice — a company that qualifies can decide to apply it, and if it does, FRS 105 is the framework that applies to those accounts. If a company does not qualify, or chooses not to use the regime, a fuller standard such as FRS 102 would be used instead. For directors in Witham running a small limited company, FRS 105 Micro Entity Accounts can mean cleaner, more readable financial statements that still meet the relevant reporting requirements.

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. 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 for the period. Newly incorporated companies with no prior period are assessed against the same rules, and companies that have previously been larger may move in and out of the regime over time. It is important to be clear that the size conditions are not the only consideration — certain company types and circumstances are excluded from the micro-entities regime, and other eligibility rules apply. Meeting the thresholds alone does not automatically guarantee eligibility, so the position should be reviewed for each accounting period before FRS 105 Micro Entity Accounts are prepared.

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 for Witham Companies

Preparing FRS 105 Micro Entity Accounts properly means working from your company’s own financial records and applying the reporting requirements that are relevant to it. That includes building the balance sheet, profit and loss account and any required notes on the correct basis, making sure the accounts are approved and signed by the directors as required, and confirming the position on matters such as comparatives, accounting policies and the micro-entities statement. It also means keeping two separate processes clearly apart: the preparation and filing of the financial statements with Companies House, and the company’s Corporation Tax obligations, which are dealt with through a CT600 return and computations submitted to HMRC. We prepare FRS 105 Micro Entity Accounts and can handle the Companies House filing side of things on your behalf, while explaining the figures clearly so you understand what has been reported and why.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts in Witham

If your company may qualify for the micro-entities regime, or you simply want to know whether FRS 105 Micro Entity Accounts are the right basis for your next set of accounts, we are happy to talk it through. Tell us about your company — how it trades, what your records look like, whether you are newly incorporated or already filing, and what you need from the accounts — and we will assess your circumstances and explain the options in plain English, including clear, transparent pricing. To get started, share your accounting records, prior year accounts and company details, and we will come back to you with the practical next steps for preparing your FRS 105 Micro Entity Accounts.

─── 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 sets out the financial reporting framework for companies that qualify as micro-entities and choose to apply the micro-entities regime. It is a simplified framework: measurement is generally based on historical cost, there are fewer disclosure requirements than under fuller standards, and the balance sheet must carry a statement confirming the accounts are prepared under the micro-entities regime. In practice, FRS 105 shapes how the balance sheet, profit and loss account and notes are put together for a qualifying company.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the UK micro-entities regime and decide to apply it. 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. Further eligibility rules and exclusions can apply, so a newly incorporated company should check its position rather than assume it qualifies.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available framework, not an automatic one. A qualifying company can choose to apply it — and therefore prepare FRS 105 Micro Entity Accounts — or it can use a fuller standard such as FRS 102. The decision may depend on the company's activities, its structure, and what the directors or any lenders or investors need from the accounts. Where the regime is adopted, the accounts for that period are prepared on that basis.

What are the current micro-entity eligibility criteria?

For accounting periods beginning on or after 6 April 2025, the size 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. A company generally has to meet at least 2 of those 3 conditions. Meeting the size tests is not the whole story, though — certain companies are excluded from the regime, and the detailed rules should be checked for the specific period before deciding to prepare FRS 105 accounts.

What is the difference between FRS 105 and FRS 102?

FRS 102 is a fuller framework used by a much wider range of companies, with more measurement options — such as revaluation or fair value accounting in certain cases — and considerably more disclosure. FRS 105 is deliberately simpler: it is largely restricted to historical cost measurement, has far fewer notes, and is only available to qualifying micro-entities that have chosen the micro-entities regime. The two are not mixed within a single set of accounts, so the framework should be settled before preparation begins.

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

Yes, where the company uses the micro-entities regime for its statutory accounts. Those accounts are approved by the directors, provided to the company's members, and a copy is delivered to Companies House in accordance with the filing requirements for that period. Preparing the accounts and delivering them are separate steps, and the way accounts can be filed is changing as Companies House moves towards software-based submission, so it is sensible to check the current guidance before you file.

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

Yes, and the two should not be confused. FRS 105 Micro Entity Accounts are the statutory financial statements prepared under the micro-entities regime and delivered to Companies House. A CT600 is the Corporation Tax Return submitted to HMRC, together with the tax computations. Both usually start from the same accounting records, but the tax return applies tax rules and adjustments that do not appear in the accounts themselves.

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

Typically we need the company's accounting records for the period, bank and credit card statements, sales and purchase records, payroll information, details of fixed assets and any loans, plus the prior year accounts and the company's registration details. If you already use bookkeeping software, read-only or accountant access is usually the quickest route. We will confirm exactly what is required once we understand your circumstances, and clear, transparent pricing is agreed before any work starts.