─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Woodley

If your company is based in Woodley and you are looking for FRS 105 Micro Entity Accounts, you are in the right place. FRS 105 is the financial reporting standard that applies to qualifying micro-entities that choose to prepare their accounts under the UK micro-entities regime. It is a simplified framework, but it still requires careful attention: the accounts must reflect your company’s transactions accurately, follow the recognition and measurement rules that apply to the micro-entities regime, and be presented in a way that is consistent with the small amount of disclosure the standard permits. Professional preparation of FRS 105 Micro Entity Accounts can help ensure that your figures are built from your underlying financial records, that the balance sheet and profit and loss account are prepared on the correct basis for your circumstances, and that you understand what is being filed and why. Eligibility is not automatic, and not every small company can or should use FRS 105, so a short conversation about your company’s size, structure and activities is usually the best starting point.

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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 the UK financial reporting standard written specifically for micro-entities. In simple terms, it is the rulebook that tells a very small company how to prepare its annual accounts when it decides to use the micro-entities regime. That regime is a set of legal simplifications available to companies that meet the qualifying size conditions, and FRS 105 is the standard that applies when the regime is chosen. Compared with the fuller standards used by larger companies, FRS 105 keeps things lean: the accounts usually include a simplified balance sheet and a simplified profit and loss account, with a limited set of notes. Some of the more complex accounting options and fair value adjustments available under other frameworks are not permitted here, which is one reason the accounts are more straightforward to read. For a Woodley-based director of a small trading company, the practical benefit is a shorter, clearer set of financial statements that still satisfy the accounting and filing requirements that apply to a micro-entity. Choosing the regime is a decision, not an automatic consequence of being small — the conditions have to be met, and it must be the right fit for the company’s circumstances.

Who Can Use FRS 105 in the UK?

FRS 105 is designed for companies that qualify for the UK micro-entities regime and then choose to apply it. Eligibility starts with size. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the 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 tests is a starting point rather than the whole answer, because other eligibility rules and exclusions can apply. Some companies are prevented from using the micro-entities regime whatever their size — for instance, where the entity type or the nature of its activities does not fit the regime — and there are rules governing how the tests are applied and how a company enters or leaves the regime from one period to the next. It is also important to remember that qualification and election are two different things: a qualifying company may still decide to prepare accounts under a fuller standard if that better suits its lenders, investors or group arrangements. For companies in Woodley considering FRS 105 Micro Entity Accounts, the practical step is to have your company’s structure, figures and plans reviewed so that both the eligibility position and the accounting choice are clear before the 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 Accounts for Woodley Companies

FRS 105 Micro Entity Accounts are built from your company’s financial records — bank statements, sales and purchase information, payroll details where relevant, and any asset or liability information you hold. From that information we prepare the financial statements on the basis that applies to the micro-entities regime, including the balance sheet, the profit and loss account and the limited disclosures FRS 105 requires. It is worth being clear about how the different obligations fit together, because they are often confused. Preparing and filing the annual accounts is one task; submitting a Corporation Tax Return (CT600) to HMRC is a separate exercise with its own rules, its own deadlines and its own information requirements. A Confirmation Statement is separate again. FRS 105 governs the accounting and financial reporting side, not your tax computation, although the two should be consistent with each other. When we prepare FRS 105 Micro Entity Accounts for a Woodley company, we work carefully through your records, flag anything that looks incomplete or inconsistent, and explain the figures so you know what has been included and on what basis. Accuracy and appropriateness to your circumstances are the aim — no professional can guarantee an outcome or a filing result, but careful preparation greatly reduces the risk of avoidable problems.

ICAEW

ACCA

AAT

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

Whether you are preparing FRS 105 Micro Entity Accounts for the first time, considering whether the micro-entities regime is the right fit for your company, or simply want the accounts taken care of by someone who works with FRS 105 regularly, we are happy to help. Tell us a little about your company — its structure, what it does, roughly how it trades and when your accounting period ends — and share the records you have. From there we can talk through your circumstances, explain the options available to you, and set out clearly what the preparation of your FRS 105 Micro Entity Accounts involves, including our transparent, fixed-fee approach where that is appropriate. 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 for micro-entities. It sets out how a qualifying company that chooses the micro-entities regime prepares its annual accounts, including how figures are recognised and measured and what minimal disclosures are needed. It is deliberately simpler than the standards used by larger companies, and it sits alongside the micro-entities regime rather than replacing it — the regime provides the legal simplifications, and FRS 105 is the standard you apply when you use them.

Who can use FRS 105?

FRS 105 is intended for companies that both qualify for the UK micro-entities regime and choose to apply it. Qualifying means meeting the applicable size conditions and not being excluded by other rules — for example, certain company types and activities are outside the regime. Meeting the size conditions does not by itself guarantee eligibility, so it is worth checking your specific circumstances before deciding. A company that qualifies is not obliged to use FRS 105; it is an available accounting regime rather than a compulsory one.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an option, not an obligation. A company that qualifies for it may choose to apply it and therefore prepare FRS 105 accounts, or it may decide to prepare accounts under a fuller standard instead. Sometimes a director prefers the additional disclosure and accounting options available elsewhere, perhaps because a lender, investor or group parent wants to see them. The important point is that choosing the regime is a decision, and FRS 105 applies once that decision is made.

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 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. These are the headline size tests, and they are subject to the relevant rules and exclusions — certain companies are prevented from using the regime regardless of size, and there are rules about how the tests are applied and how a company moves in or out of the regime. Because the detail matters, it is sensible to have your position reviewed rather than assuming you qualify.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes of company and produce different accounts. FRS 102 is the standard used by a much wider range of entities and permits more accounting options, more judgements around fair value and considerably more disclosure. FRS 105 is the micro-entities standard: it is shorter, more prescriptive and allows far less disclosure, and some options available under FRS 102 are not available under FRS 105. In practice, FRS 105 accounts are typically briefer and easier for a reader to work through, while FRS 102 accounts give a fuller picture. The right choice depends on eligibility and on what the company and its stakeholders need.

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

For a company, the annual accounts are generally filed at Companies House, and that filing obligation applies whether the accounts are prepared under FRS 105 or another standard. What FRS 105 changes is the content and presentation of those accounts, not whether they need to be filed. It is also worth separating the accounts from other filings: a Corporation Tax Return (CT600) goes to HMRC, and a Confirmation Statement is a different filing again. They are related in that they all draw on the same underlying information, but they are distinct obligations with distinct requirements.

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

Yes, they are separate. FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime and filed at Companies House. A CT600 is the Corporation Tax Return submitted to HMRC, and it deals with the company's taxable profits and tax position rather than with the presentation of the accounts. The two should be consistent — the accounts are usually the starting point for the tax computation — but preparing one does not automatically complete the other. Many companies need both, and it helps to plan for them together.

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

In broad terms, we need the records that show what the company earned, spent, owns and owes during the accounting period. That typically means bank and credit card statements, sales and purchase records, payroll information if the company employs people, details of any loans, and information about assets such as equipment, vehicles or property. If the company has traded for several years, last year's accounts and tax return are helpful for consistency. Directors' loan account movements and any share capital changes are also worth flagging early. The clearer the records, the smoother the preparation.