─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Ayeside

FRS 105 provides the financial reporting framework for qualifying micro-entities that choose to apply the micro-entities regime, and FRS 105 Micro Entity Accounts in Ayeside are prepared on exactly that basis. For many small companies, the appeal is straightforward: a simpler, shorter set of financial statements that reflects the reality of a smaller business without the volume of disclosure required under a fuller framework. Professional preparation helps ensure those accounts are put together appropriately for your company’s particular circumstances — its trading activity, its assets and liabilities, its accounting records and the reporting requirements that apply to it. Because eligibility for the micro-entities regime depends on a combination of size conditions and other rules, the starting point is a proper review of your position rather than an assumption that your company qualifies. From there, the accounts can be drafted clearly and consistently, with the figures built up from your records so that the resulting FRS 105 financial statements are coherent, understandable and suitable for the company’s needs.

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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: The Micro-Entities Regime in Simple Terms

In plain terms, FRS 105 is the UK financial reporting standard written specifically for micro-entities — the smallest companies within the UK’s company size framework. The UK operates a micro-entities regime, and when a qualifying company chooses to apply that regime, FRS 105 is the standard it uses to prepare its financial statements. The thinking behind it is simplification. Rather than working through the fuller recognition, measurement and disclosure requirements of a larger framework, a company using FRS 105 prepares a leaner set of accounts, typically a simpler balance sheet and profit and loss account with limited notes. That can make the accounts quicker to read and less expensive to prepare. It is important to be clear about the choice involved: the micro-entities regime is an available accounting regime, not an automatic one. A company has to qualify for it, and its directors have to decide to use it. Qualifying companies that prefer a different framework, or that need to present their financial position in more depth — for example because a lender or investor expects it — may instead apply FRS 102. Understanding which route suits your business is where good advice makes a difference, particularly when a company’s circumstances are changing.

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. 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. Those conditions give a useful indication of where the boundary sits, but they are not the whole test. Other eligibility rules and exclusions apply, and certain entities are unable to use the micro-entities regime at all, regardless of how small they are. A company can also move in and out of eligibility as it grows, takes on staff, acquires assets or restructures. For that reason, meeting the size thresholds should never be treated as an automatic green light. The sensible approach is to look at your company’s specific circumstances — its legal form, its activity, its group position if relevant, and its figures for the period — and confirm whether FRS 105 is genuinely available to it 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 and Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts well starts with solid bookkeeping and a clear understanding of what has happened in the business during the period. We take the financial records you provide — bank transactions, sales and purchase information, payroll details, asset purchases, loans and similar — and work through them to build a set of financial statements that reflects the company’s position and performance under the FRS 105 framework. The preparation of the financial statements and the process of filing them with Companies House are distinct steps, and both are separate again from Corporation Tax obligations. Accounts prepared under FRS 105 are used for the company’s statutory accounts, while a Corporation Tax Return (CT600) is a separate filing made to HMRC, prepared on tax rules rather than accounting ones. Keeping those strands clear helps avoid confusion and helps ensure the figures reported in each place are properly supported. Our role is to prepare accounts based on your records and the reporting requirements that apply to your company; final responsibility for the accounts and for approving them rests with the directors.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts

If your company may qualify for the micro-entities regime — or if you already know it does and you would like the accounts handled properly — get in touch to discuss your FRS 105 Micro Entity Accounts. Tell us a little about your business, your trading period, your current bookkeeping arrangements and what you need the accounts for, and share whatever records you already have. From there we can look at your circumstances, confirm which reporting framework fits, and explain the information we need to prepare your FRS 105 financial statements and support you with the associated filings. If you are unsure whether FRS 105 is the right fit, that is a perfectly good reason to have the conversation — clear, transparent pricing and a straightforward discussion about 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 micro-entities. It sits within the UK's micro-entities regime and sets out how a qualifying company that has chosen that regime prepares its financial statements. It is deliberately simplified compared with fuller frameworks: recognition and measurement requirements are pared back and disclosure is limited, which means a shorter, more streamlined set of accounts for a small business.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the micro-entities regime and then choose to apply it. Qualification is based on size conditions together with other eligibility rules and exclusions, so it is not simply a matter of being small in everyday terms. Certain company types and circumstances are outside the regime entirely. If there is any doubt about your company's position, it is worth checking before the accounts are prepared rather than afterwards.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a mandatory one. A company may qualify for it and still decide to prepare its accounts under a different framework, such as FRS 102, if that better suits its needs — for example where more detailed reporting is expected by a lender, investor or other interested party. FRS 105 applies when the qualifying company chooses to use the micro-entities regime.

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. Meeting those size conditions is a starting point rather than the full picture — other rules and exclusions can apply, and some companies cannot use the regime regardless of size. It is also worth noting that earlier thresholds were lower, so older guidance may no longer reflect the current position.

What is the difference between FRS 105 and FRS 102?

The main difference is depth. FRS 105 is the micro-entities standard: it strips out much of the complexity and keeps disclosure to a minimum, producing shorter accounts. FRS 102 is a fuller framework used by a much wider range of companies, with more detailed recognition, measurement and disclosure requirements, including areas such as fair value accounting and revaluations that FRS 105 does not permit. Which one is appropriate depends on whether the company qualifies for the micro-entities regime and what its accounts need to show.

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

Statutory accounts prepared under FRS 105 still need to be filed with Companies House as part of the company's annual accounts filing obligations. What changes under the micro-entities regime is the content and level of detail in those accounts, not the underlying requirement to file them. Filing accounts with Companies House is a separate process from filing a Corporation Tax Return with HMRC, and the information in each is prepared on a different basis.

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

Yes, they are two separate things. FRS 105 financial statements are the company's statutory accounts, prepared under the accounting framework. A CT600 is a Corporation Tax Return submitted to HMRC, and it is prepared on tax rules rather than accounting rules. The figures will often start from the same records, but adjustments routinely arise — for example around capital allowances or disallowable expenses — so the taxable profit reported to HMRC can differ from the profit shown in the accounts.

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

In practice we need a clear picture of the company's transactions for the period: bank and credit card statements, sales and purchase records, payroll information, details of any assets bought or sold, loan agreements and balances, and opening balances from the previous period. If you already keep bookkeeping software, granting access is usually the simplest route. Where records are incomplete, we can talk through what is missing and how best to fill the gaps before the accounts are prepared.

Can a new limited company use FRS 105?

A newly incorporated company can potentially apply the micro-entities regime, provided it meets the eligibility conditions and chooses to do so. There is no rule requiring years of trading history first. That said, a first accounting period can be shorter or longer than twelve months and the figures are often modest, so it is worth having the position reviewed rather than assuming the regime applies by default.