─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Woodbridge: Clear, Professional Financial Reporting

If your company is considering the micro-entities regime, FRS 105 Micro Entity Accounts in Woodbridge give you a streamlined way to report your financial position without the additional disclosures required under larger reporting frameworks. FRS 105 is the financial reporting standard that applies when a qualifying company chooses to apply the micro-entities regime, and it produces shorter, simpler financial statements covering the balance sheet, profit and loss, and notes. Whether you are a sole director consultancy, a small family trading company, or a growing limited company in Woodbridge, professional preparation helps ensure your accounts are put together appropriately for your circumstances, based on the records you hold and the reporting requirements that apply to you. We look at your turnover, balance sheet total and employee numbers in the context of the wider eligibility rules, discuss whether the micro-entities regime suits your situation, and prepare accounts that reflect your actual trading activity rather than a template. Eligibility is not automatic, so the starting point is always a proper review of your position.

🔥 SAVE £100.00

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

Find Your Company

Search for your company to continue with the accounting services

Start typing to search for companies...

Results

Years filing UK company accounts

0 +

Micro entity accounts submitted

0 +

Verified Google reviews

0 +

Typical Filing Turnaround

0 Days

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.
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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

FRS 105 is the UK financial reporting standard designed for the smallest companies. It sits alongside the micro-entities regime, which is a legal framework that qualifying companies can choose to apply when preparing their annual accounts. Put simply, if a company qualifies as a micro-entity and decides to use that regime, FRS 105 is the standard it prepares its financial statements under. The result is a set of accounts that is shorter and more straightforward than those prepared under FRS 102, with a simplified balance sheet, profit and loss account and a limited set of notes. The trade-off is that FRS 105 accounts focus on historical cost and generally do not allow the revaluation or fair value treatments available under other frameworks, so the figures tend to reflect what was actually paid and received. Importantly, the micro-entities regime is a choice rather than an obligation, and not every small company qualifies for it. FRS 105 applies when that regime is used, so it is worth understanding both the eligibility rules and the practical consequences before deciding which framework fits your Woodbridge company best.

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. Qualification is primarily a question of size. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least two of three 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 two of the three is the usual starting point. That said, size alone does not guarantee eligibility. Other rules and exclusions can apply, some types of company are outside the regime, and a company that has previously sat within a different framework may need to check its position again as its figures change. Group structures, ineligible entities and changes in turnover or headcount can all affect the answer. If your company is based in or around Woodbridge and you are unsure whether FRS 105 Micro Entity Accounts are the right fit, the sensible step is to have your figures reviewed against the current criteria and the wider eligibility rules before deciding.

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, Built on Your Records

We prepare FRS 105 Micro Entity Accounts from the financial records you provide — bank statements, sales and purchase information, payroll details, expenses, asset purchases and any loans or director balances — and we work through the applicable reporting requirements for a micro-entity. That means preparing a balance sheet, a profit and loss account and the supporting notes in line with FRS 105, checking that the figures are internally consistent, and flagging anything that needs your input before the accounts are finalised. It is worth keeping two things clearly separate: preparing and filing your annual accounts with Companies House, and dealing with your Corporation Tax obligations. A CT600 Corporation Tax Return is a separate filing submitted to HMRC, and the figures used for tax purposes are not always identical to the figures in your FRS 105 financial statements. A Confirmation Statement is a further, separate filing. We can talk you through how these pieces fit together, what information is needed at each stage, and where your responsibilities begin and end, so nothing is overlooked. What we cannot do is promise a particular filing outcome — we prepare accounts based on the information available and the reporting framework that applies to your company.

ICAEW

ACCA

AAT

Discuss Your FRS 105 Micro Entity Accounts in Woodbridge With Us

Getting the framework right from the start saves time and confusion later. If your company may qualify for the micro-entities regime, or if you are already preparing FRS 105 Micro Entity Accounts and want them handled properly, get in touch and tell us about your business. It helps to have a rough picture of your turnover, balance sheet total and average employee numbers, along with details of your current accounting records and any recent changes such as new asset purchases, loans or director transactions. We will review your circumstances, explain how the micro-entities regime applies to a company like yours, set out your options in clear language, and talk through our transparent, fixed-fee approach to preparing your accounts. There is no pressure and no jargon — just a straightforward conversation about your FRS 105 Micro Entity Accounts and what is needed to move forward.

─── 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 company that chooses to apply the micro-entities regime prepares its annual financial statements. Compared with FRS 102, it allows a much shorter set of accounts: a simplified balance sheet, a simplified profit and loss account and a limited number of notes. It is built around historical cost, so revaluation and fair value adjustments are generally not available, which keeps the reporting straightforward but also means the accounts reflect original costs rather than current market values.

Who can use FRS 105 Micro Entity Accounts?

FRS 105 Micro Entity Accounts are available to companies that both qualify for the UK micro-entities regime and choose to apply it. Qualifying is about size — a company generally needs to meet at least two of three conditions — but there are additional eligibility rules and exclusions that can affect whether the regime is open to you. Some companies are excluded regardless of their size. Because of this, we always review the specific circumstances of a Woodbridge company before confirming whether FRS 105 is an appropriate route, rather than assuming that being small automatically means you qualify.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a mandatory one. A qualifying company can choose to apply it, in which case FRS 105 applies, or it can prepare its accounts under a different framework such as FRS 102. The right choice depends on your circumstances — for example whether you need to present revalued assets, whether a lender or investor expects a particular format, or whether the company sits within a group. We can explain the practical differences so you can make an informed decision rather than defaulting to one framework.

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 two of the following three 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 during the period. The test is two out of three, not all three. Meeting those size conditions is not the whole story, however, because other eligibility rules and exclusions can apply, and the position can change as your company grows. We check the criteria against your actual figures before recommending a framework.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they serve different sizes of company. FRS 102 is the main standard for larger entities and allows a broader range of accounting treatments, including certain fair value and revaluation options, together with more extensive disclosure requirements. FRS 105 is the simpler micro-entities standard, with a shorter balance sheet and profit and loss account and far fewer notes, and it is based on historical cost. Choosing between them is about eligibility first and then suitability — the simpler framework is not automatically better if your company needs to present its financial position in a particular way.

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

Yes, where the company is required to file annual accounts, the prepared financial statements are submitted to Companies House as part of the company's normal filing obligations. Filing your accounts and preparing them are two distinct steps, and the accounts must be filed within the statutory deadline that applies to your company. Filing is separate from your Corporation Tax position and from your Confirmation Statement, which is a different filing altogether. We can prepare the accounts and explain what needs to go where, so you know exactly which obligations fall to the company.

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

Yes, they are separate. FRS 105 relates to the accounting and financial reporting framework used for your annual accounts. A CT600 is a Corporation Tax Return submitted to HMRC, and it is based on your taxable profits rather than simply being a copy of your reported figures. Adjustments such as disallowable expenses, capital allowances and timing differences can mean the tax figures differ from the accounting figures. Treating them as the same thing is a common mistake, so we keep the two clearly distinct and make sure each is dealt with properly.

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

We start with your accounting records for the period — bank statements and reconciliations, sales and purchase information, expense records, payroll data, and details of any assets bought or sold. We also need information on loans, hire purchase agreements, director's loan account movements, stock or work in progress where relevant, and any amounts owed to or by the company at the period end. If you are moving from another accountant, last year's accounts and trial balance are helpful too. Once we have the full picture, we can prepare the financial statements and let you know if anything further is required.