─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Acton

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying micro-entities in the UK. FRS 105 is not a filing shortcut or a default position — it is the standard a company uses when it both qualifies for the micro-entities regime and chooses to apply it. For a small company in Acton, that choice affects how the balance sheet, profit and loss account and supporting notes are presented, and it can simplify the way the financial statements look compared with other frameworks. Professional preparation starts with the company’s own records: bookkeeping, bank statements, invoices, expenses, asset details and any relevant agreements. From there, the accounts are built to reflect the company’s circumstances accurately and to align with the recognition and measurement requirements of FRS 105. Because eligibility depends on a combination of size conditions and other rules and exclusions, it is worth reviewing your position rather than assuming the regime applies. If you run a limited company in Acton and want your FRS 105 Micro Entity Accounts prepared properly, with the figures and disclosures handled in line with the framework, this is the right place to start.

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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 302 reviews 
    
 
 
 
   
 
 
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   Ayotunde Rufai 
 
 
 
 Trustindex verifies that the original source of the review is Google. Best accountants we've ever had. Umer is ace, and makes everything easy and transparent.
  
 
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   Sofia 
 
 
 
 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.

Muhammad was professional, responsive and genuinely helpful from start to finish. It was clear that he cared about providing a great service and making sure everything was handled properly. I would definitely recommend him to anyone looking for someone reliable, efficient and professional.
  
 
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   Zest For Life 
 
 
 
 Trustindex verifies that the original source of the review is Google. I worked with Accotx on a HMRC reclaim and overall, they did ultimately deliver on their promise, which I appreciate. The process did take longer than any of us expected, partly due to external delays with the tax authorities, and partly because there were some hiccups in communication and follow-up. However, despite those challenges, they stayed professional and stuck to the original agreed terms. If you’re considering using them, be prepared to stay in regular contact to keep things moving along. They are absolutely capable, have the expertise and willing to work with you, and overall  improving their services over time. I would certainly return for any future needs.
  
 
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   Pete Wrist 
 
 
 
 Trustindex verifies that the original source of the review is Google. Sterling work. Many thanks to Muhammad and the team for all their help and expertise
  
 
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   Hansen Personal Training 
 
 
 
 Trustindex verifies that the original source of the review is Google. We have been a client for years - very quick responsive and personalised service
  
 
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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 .

─── FRS 105 EXPLAINED

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

FRS 105 is the UK financial reporting standard designed for micro-entities. In plain terms, it sets out the rules a qualifying company follows when it prepares its annual accounts under the micro-entities regime. It sits within the same family of standards as FRS 102, but it is deliberately simpler: fewer accounting policy choices, a more straightforward approach to measurement, and reduced disclosure compared with the fuller frameworks used by larger companies. That simplicity is the point — it is intended to keep the financial statements proportionate to the size and complexity of a genuinely small business. The important distinction is that FRS 105 is not something every small company must use. A company first needs to qualify for the micro-entities regime, and then it needs to decide whether to apply it. FRS 105 applies when that regime is chosen. If the regime is not used, the company reports under a different framework instead. The accounts themselves still need to show a true picture of the company’s financial position and performance within that framework, which is why accurate records and careful preparation matter. For companies in Acton considering FRS 105 Micro Entity Accounts, understanding this relationship between eligibility, choice and the standard itself is the first step towards getting the accounts right.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for UK companies that qualify for the micro-entities regime and decide to apply it. Qualification is based on size, and for accounting periods beginning on or after 6 April 2025 a company generally needs to meet at least 2 of 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 conditions is the starting point, not the end of the test. Other eligibility rules and exclusions can apply depending on the type of company, its activities and its reporting history, which means that falling within the size thresholds does not automatically guarantee that the micro-entities regime is available. There is also a distinction between qualifying and choosing: a company that qualifies for the regime still has to decide whether to use it, and FRS 105 applies when that decision is made. For companies in Acton weighing up FRS 105 Micro Entity Accounts, the practical answer is to review your own figures and circumstances against the rules for your accounting period rather than relying on a general assumption.

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 with Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts is about more than dropping figures into a template. The accounts need to be built from the company’s underlying financial records and presented in line with the recognition, measurement and disclosure requirements of the framework the company has chosen to apply. That means reviewing the bookkeeping, checking that income and costs are recorded in the right period, confirming how assets and liabilities should be treated under FRS 105, and making sure the balance sheet and profit and loss account agree with the records they came from. It also means being clear about the two separate strands that often get muddled together. Preparing the financial statements and filing them with Companies House is one process; meeting Corporation Tax obligations, including any CT600 that may be due, is a separate process handled with HMRC. Good preparation keeps those strands distinct so nothing is missed and nothing is duplicated. For a company in Acton, having FRS 105 Micro Entity Accounts prepared carefully by someone who works with the micro-entities regime regularly makes it easier to understand what has been reported, why it has been reported that way, and what still needs to be dealt with elsewhere.

ICAEW

ACCA

AAT

Get Help with Your FRS 105 Micro Entity Accounts in Acton

If you are ready to move forward with FRS 105 Micro Entity Accounts, the next step is a straightforward conversation about where your company stands. We will want to understand your trading activity, how your records are kept, your accounting period, the nature of your assets and liabilities, and whether the micro-entities regime looks like the right fit for your circumstances. Bring along your bookkeeping, bank statements, invoices, expense records and any relevant agreements, and we can assess what is needed to prepare your accounts properly. Whether you are setting up as a new limited company in Acton, have been trading for years under a different framework, or simply want clarity on what FRS 105 involves, get in touch and we will talk through your requirements.

─── 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 sets out how a qualifying micro-entity recognises and measures items in its financial statements and what it needs to disclose. It is a simplified framework compared with FRS 102, with fewer policy options and lighter disclosure requirements, which keeps the accounts proportionate to the size of a genuinely small company.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the micro-entities regime and then choose to apply it. 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. Other eligibility rules and exclusions can also apply, so meeting the size conditions alone does not automatically mean the regime is available.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying for the micro-entities regime and choosing to apply it are two separate things. A company that qualifies may use FRS 105, but it is not obliged to. Some companies prefer to report under a fuller framework such as FRS 102, particularly where they need more detailed information for lenders, investors or group purposes. The regime is an available option for qualifying companies, and FRS 105 applies when that option is taken.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they sit at different levels of complexity. FRS 105 is designed for micro-entities and takes a simpler approach to measurement and disclosure. FRS 102 is a broader framework used by a much wider range of companies and includes more accounting policy choices and more extensive disclosure requirements. In practice, the choice affects how the financial statements are presented and how much detail they contain.

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

Where a company prepares its annual accounts under FRS 105, those financial statements are generally the ones used for the company's statutory accounts filing. The filing obligation sits with the company and depends on its own circumstances and the filing requirements that apply to it. Preparing the accounts and filing them are steps within the same overall process, but they are distinct tasks and both need attention.

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

Yes, they are separate. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under the micro-entities regime and used for statutory reporting. A CT600 is a Corporation Tax Return submitted to HMRC to report the company's taxable profits and calculate the tax due. The figures in the accounts often inform the tax return, but the two are different documents prepared for different purposes and submitted to different bodies.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105 if it qualifies for the micro-entities regime and chooses to apply it. In the first period of trading, the assessment is based on the company's position and the rules that apply to that period, so it is worth checking the specifics rather than assuming. A company with little or no trading activity may have a different reporting position, and the framework chosen should reflect that.

What information is needed to prepare FRS 105 accounts?

Typically you would provide your bookkeeping or accounting records, bank statements, sales invoices and receipts, purchase invoices and expense records, details of any assets owned by the company, information on loans, director's transactions and any relevant agreements. Payroll information matters where the company employs staff. The cleaner and more complete the records, the more straightforward the preparation of the accounts will be.

What changes are coming to micro-entity accounts filing?

The rules around company accounts and filing have been under review, and changes affecting smaller companies have been introduced or consulted on in recent years. Because the detail matters and can affect what you prepare and file, it is sensible to confirm the position that applies to your own accounting period before you rely on a previous approach. If you are unsure how any change affects your company, it is worth taking advice on your specific circumstances.