─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Woodmansterne

If you run a small company in Woodmansterne and want the simplest possible set of statutory accounts, FRS 105 Micro Entity Accounts are likely to be on your radar. FRS 105 is the financial reporting framework that applies when a qualifying company chooses to adopt the UK micro-entities regime. It is deliberately streamlined: fewer disclosures, a historical cost basis, and a set of primary statements that are shorter and easier to follow than those produced under other frameworks. Professional preparation of FRS 105 Micro Entity Accounts helps ensure the figures are drawn correctly from your records, that the accounts reflect your company’s actual circumstances, and that the framework has been applied consistently and appropriately for the period in question. Because eligibility depends on size conditions and other rules — not simply on being a small company — the starting point is a proper review of whether the micro-entities regime is available and sensible for you.

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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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 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 Regime in Plain English

FRS 105 is a UK financial reporting standard written specifically for micro-entities. It sits alongside the UK’s micro-entities regime, which is an accounting regime that qualifying companies may choose to apply when preparing their annual financial statements. In practice, FRS 105 is the standard you use if you are eligible and you decide to take advantage of that regime. The idea behind it is simplicity: the accounts are prepared on a historical cost basis, the disclosure requirements are reduced to a minimum, and the resulting financial statements are shorter and more straightforward than those prepared under FRS 102 or other frameworks. Importantly, FRS 105 is a choice rather than an obligation — a qualifying company can apply the micro-entities regime and therefore FRS 105, or it can prepare accounts under a different framework such as FRS 102 Section 1A. If the micro-entities regime is used, FRS 105 applies. What FRS 105 does not do is change your other obligations: it governs how the accounts are prepared, not how your tax is calculated or how other filings are made.

Who Can Use FRS 105 in the UK? Eligibility and the Micro-Entities Regime

FRS 105 is designed for UK companies that qualify for the micro-entities regime and choose to apply it. The regime is available, not automatic, and a company that qualifies may still decide to prepare accounts under a different framework. For accounting periods beginning on or after 6 April 2025, the size conditions are broadly that a company meets at least 2 of the following 3: 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. Those figures are a starting point rather than the whole test. Other eligibility rules and exclusions apply to certain types of company and certain circumstances, and there can be additional considerations for groups, newly incorporated companies, and companies whose activity or structure falls outside the ordinary. This is why a company in Woodmansterne should not assume that being small means FRS 105 automatically applies — eligibility needs to be checked against the rules for the specific period, and the decision to adopt the micro-entities regime should be a deliberate one.

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 in Woodmansterne

Preparing FRS 105 Micro Entity Accounts starts with your underlying financial records — bookkeeping, bank and credit card data, sales and purchase information, payroll records, and details of any assets or liabilities — and turns them into a set of financial statements prepared on the basis required by the framework. That means applying the correct recognition and measurement approach, presenting the primary statements in the expected format, and making sure the limited disclosures required are included and accurate. It is worth being clear about the boundaries here: the accounts themselves are a financial reporting exercise, while filing those accounts with Companies House is a separate step, and your Corporation Tax Return (CT600) is a separate submission made to HMRC dealing with tax rather than financial reporting. Work on FRS 105 Micro Entity Accounts can be carried out alongside those other obligations so that the figures you see in your financial statements line up sensibly with the numbers used elsewhere, but each filing stands on its own and is subject to its own requirements and deadlines.

ICAEW

ACCA

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Talk to Us About Your FRS 105 Micro Entity Accounts

Whether you are preparing FRS 105 Micro Entity Accounts for the first time, switching frameworks, or simply want your existing accounts reviewed with fresh eyes, get in touch to discuss your requirements. Tell us a little about your company — what it does, how it is structured, how long you have been trading, and how your records are currently kept — and provide the information needed to assess whether the micro-entities regime is a good fit for your circumstances. We can talk through how FRS 105 applies to your situation, what information we would need from you, and how the accounts fit alongside your other reporting and filing obligations. There is no obligation and no pressure; the aim is simply to give you a clear, honest view of your options.

─── 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 is a simplified framework: accounts are prepared on a historical cost basis, certain adjustments and valuations that other standards permit are not allowed, deferred tax is not recognised, and the disclosure requirements are kept to a minimum. The result is a shorter, more straightforward set of financial statements that still meets the legal requirement to prepare annual accounts.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then choose to apply it. Qualifying is not the same as being obliged — it is an available regime for companies that meet the relevant criteria and are not excluded for another reason. Size tests are only part of the picture, so eligibility should be assessed on your company's specific circumstances rather than assumed.

Is FRS 105 compulsory for every micro-entity?

No. A company that qualifies for the micro-entities regime can choose whether to apply it. If it does, FRS 105 applies. If it does not, it might prepare accounts under another framework, such as FRS 102 Section 1A for small entities, which offers different accounting options and requires more disclosure. The choice is usually made with an eye on simplicity, the nature of the company's transactions, and what readers of the accounts need.

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 the following 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 size conditions does not by itself guarantee eligibility, because other rules and exclusions can apply to particular companies and circumstances. Eligibility should therefore be confirmed rather than presumed.

What is the difference between FRS 105 and FRS 102?

FRS 105 is the more streamlined of the two. It restricts you to a historical cost basis, does not allow revaluation or fair value measurement, does not recognise deferred tax, and requires far fewer disclosures. FRS 102 — and in particular Section 1A, which is aimed at small entities — permits more accounting options and policy choices but asks for considerably more disclosure. In short, FRS 105 trades flexibility for simplicity.

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

Accounts prepared under FRS 105 are still statutory accounts, and companies are generally required to file accounts with Companies House. The framework determines how the accounts are prepared, not whether they are filed. Filing obligations can depend on the company's circumstances — for example, whether it is trading, dormant, or part of a group — so the position should be checked for your specific company rather than assumed.

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

Yes, they are separate. FRS 105 Micro Entity Accounts are financial statements prepared under a financial reporting framework and filed at Companies House. A CT600 is a Corporation Tax Return submitted to HMRC, dealing with the company's tax position and computed under tax rules rather than accounting rules. The two are related in that they both draw on the company's financial records, but they are distinct documents with distinct requirements, deadlines, and audiences.

Can a new limited company use FRS 105?

It may be able to, provided it qualifies for the micro-entities regime and chooses to apply it. A newly incorporated company usually has no trading history, so the size tests are looked at in the context of the first accounting period and the rules on newly formed companies. Where a company expects to grow beyond the size conditions, it can be worth thinking ahead about how a later move away from the micro-entities regime would work before committing to it.

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

Typically you would need your bookkeeping or accounting records for the period, bank and credit card statements, sales and purchase documentation, payroll information, details of any loans or other liabilities, and information about assets such as equipment or vehicles. Details of share capital, directors' loans, and any unusual transactions are also useful. The cleaner and more complete the records, the more straightforward the preparation process tends to be.

What changes are coming to micro-entity accounts filing?

The way accounts are filed at Companies House has been changing, with a move towards filing in a structured digital format and continued reform of the filing regime more broadly. Because these changes are being introduced in stages, it is worth confirming the current requirements that apply to your company and your period end before you file, rather than relying on how things were done a few years ago.