─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Abinger Hammer

FRS 105 Micro Entity Accounts provide the financial reporting framework for qualifying companies that choose to apply the UK micro-entities regime, and this page explains how that works in practice for businesses based in Abinger Hammer and the surrounding Surrey area. FRS 105 is a distinct accounting standard rather than a simplified version of a Corporation Tax Return, so it deals with how a company’s financial statements are prepared and presented — the balance sheet, the notes and the profit and loss information disclosed under the micro-entities regime. Professional preparation helps ensure the accounts are drawn up appropriately for the company’s own circumstances, using the underlying bookkeeping records, and that the figures are presented in a way that reflects the applicable reporting requirements. Because eligibility depends on more than simply being a small company, it is worth reviewing your position before assuming the micro-entities regime is the right route; a suitably experienced accountant can assess whether FRS 105 Micro Entity Accounts suit your company, or whether a fuller framework is more appropriate.

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FRS 105 Micro-Entity Accounts

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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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 Trustindex verifies that the original source of the review is Google. I had a really positive experience with Muhammad. He was incredibly quick to action everything and made the whole process straightforward and stress-free. He took care of everything promptly and kept me informed throughout, which was greatly appreciated.

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─── FRS 105 EXPLAINED

FRS 105 Explained: What the Micro-Entities Regime Means for Your Company

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In plain terms, it sits alongside the UK’s micro-entities regime, which is an accounting framework available to companies that meet certain size conditions and are not otherwise excluded from using it. When a qualifying company chooses that regime, FRS 105 is the standard it applies when preparing its annual financial statements. Compared with the fuller standards used by larger businesses, FRS 105 keeps things deliberately straightforward: the accounts are prepared on a historical cost basis, disclosure requirements are reduced, and the emphasis is on presenting a clean, digestible set of figures rather than lengthy notes. Importantly, choosing the micro-entities regime is a decision, not an automatic outcome — a company that qualifies still has to opt in, and it should consider whether simpler accounts genuinely suit its circumstances, particularly if it needs to keep more detailed information for lenders, investors or its own management. For directors in Abinger Hammer running a small limited company, understanding FRS 105 Micro Entity Accounts is often the first step towards knowing what their annual accounts should actually look like.

Who Can Use FRS 105 in the UK? Qualifying for the Micro-Entities Regime

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then choose to apply it. The size test centres on 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. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of those 3 applicable conditions in order to qualify, although the full rules should always be checked against the company’s own position. Meeting the size conditions is not the whole story. The regime also carries exclusions, so some companies are prevented from using it regardless of how small they are — for example where they carry on certain regulated financial activities. There can also be additional considerations for companies connected to others, or those preparing accounts for a group. The practical point for directors in Abinger Hammer is this: qualifying for FRS 105 Micro Entity Accounts is a combination of meeting the size conditions, not being caught by an exclusion, and deciding that the micro-entities regime is the right choice for the company. That last part matters, because FRS 105 is an option rather than a requirement, and a fuller framework may suit some businesses better.

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

Preparing FRS 105 Micro Entity Accounts properly starts with your underlying records — bank statements, sales and purchase information, payroll details, asset purchases, and any loans or director balances — and then applies the reporting requirements that apply to a micro-entity. The aim is a set of financial statements that accurately reflects your company’s position and performance for the period, presented in the format the micro-entities regime expects. It is worth being clear about what sits where: the accounts themselves are prepared under FRS 105 and, for a limited company, are normally filed with Companies House. That is a separate exercise from the company’s Corporation Tax obligations, which are reported to HMRC through a Company Tax Return (CT600). The two are connected in the sense that they draw on the same accounting records, but they are not the same document, and neither one replaces the other. A company’s Confirmation Statement is a further, separate filing. Working with an accountant on your FRS 105 Micro Entity Accounts in Abinger Hammer means the figures are built up from your records and reviewed for consistency, so that the accounts you file reflect the information available and the framework you have chosen to apply.

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Get Help With Your FRS 105 Micro Entity Accounts in Abinger Hammer

If your company is considering the micro-entities regime, or you simply want your annual accounts prepared properly under FRS 105, get in touch to talk through your requirements. It helps to have a short conversation about your circumstances first — your company’s size, how it is structured, whether it has any subsidiaries or loans, and what you need the accounts to do for you. From there, you can share your bookkeeping records, bank information and relevant paperwork, and we can assess whether FRS 105 Micro Entity Accounts are the right fit for your company or whether a different framework is more suitable. There is no obligation and no pressure: the aim is a clear, straightforward discussion so you understand your options and can decide how you would like to proceed.

─── 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 micro-entities. It sets out how qualifying companies that choose to use the micro-entities regime prepare their annual financial statements, including the format of the balance sheet, the limited disclosures required, and the requirement to prepare the accounts on a historical cost basis. It is a separate matter from tax: FRS 105 governs the accounts, while Corporation Tax is reported separately to HMRC.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the UK micro-entities regime and then choose to apply it. Qualifying is not automatic — a company needs to meet the relevant size conditions and must not fall within any of the exclusions that prevent a company from using the regime regardless of its size, such as certain regulated financial activities. Because the rules include more than a simple size test, it is worth checking your specific position rather than assuming FRS 105 applies.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime rather than a mandatory one. A company that qualifies may choose to apply it, in which case FRS 105 is the standard used to prepare its accounts — or it may use a fuller framework such as FRS 102 instead. Some directors prefer the additional detail and flexibility that a fuller standard provides, for example where lenders, investors or group arrangements require it.

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 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 conditions sit alongside the wider rules that govern the regime, including exclusions that can apply to particular types of company, so meeting two of the three thresholds does not by itself guarantee eligibility.

What is the difference between FRS 105 and FRS 102?

FRS 102 is a fuller financial reporting standard used by a much wider range of companies. It permits more measurement options, such as revaluation of certain assets, and requires substantially more disclosure in the notes to the accounts. FRS 105 is deliberately narrower and simpler: it is restricted to micro-entities, keeps everything on a historical cost basis, and strips back the disclosure requirements. Choosing between them is a question of eligibility and of what the company actually needs from its accounts.

Do FRS 105 accounts need to be filed with Companies House, and is that the same as a Corporation Tax Return?

For a limited company, the annual accounts — including those prepared under FRS 105 — are normally filed with Companies House within the applicable statutory filing period. That filing is separate from the company's Corporation Tax return, the CT600, which is submitted to HMRC to report taxable profits and is not the same document as the accounts. Both draw on the same accounting records, but they are prepared for different purposes and filed with different bodies. A Confirmation Statement is a further separate filing.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 for its first accounting period if it qualifies for the micro-entities regime and chooses to apply it. New companies often do meet the size conditions in their early years, but eligibility also depends on the nature of the business and the exclusions that apply to the regime, so it is worth confirming before the first set of accounts is prepared. Planning ahead is useful, because the framework you choose shapes how the records should be kept.

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

In practice, preparation starts with your accounting records for the period: sales and purchase information, bank and credit card statements, payroll details, and records of any assets, loans or director's balances. You would also normally provide details of any stock or work in progress, plus the previous year's accounts if there are comparative figures. Once the records are complete, the accounts can be prepared under FRS 105 and reviewed for consistency before they are finalised.

What changes are coming to micro-entity accounts filing?

Companies House has been introducing reforms to the way company accounts are filed, including a move towards accounts being submitted using compatible software with digitally tagged information rather than typed-in or paper formats. These changes are being phased in over time, and the practical effect on any individual company depends on its year end and filing arrangements. It is sensible to confirm the current filing requirements at the point you prepare your accounts rather than relying on how things were done previously.