─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Barking

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework that applies to qualifying micro-entities which choose to adopt the UK micro-entities regime. If your Barking-based company keeps straightforward records and falls within the size conditions for the regime, FRS 105 accounts can offer a simpler, more concise set of financial statements than the fuller frameworks used by larger businesses. Professional preparation helps ensure the accounts reflect your actual transactions and balances, follow the recognition and measurement rules of FRS 105, and are presented in a way that suits your company’s circumstances. It also helps you stay organised, because the figures used in your accounts need to line up with the information you report elsewhere. Eligibility is not automatic — it depends on the company’s size, its legal form and whether any exclusions apply — so the sensible first step is a short review of your position before any accounts are drafted. Whether you are filing your first set of micro-entity accounts or moving across from another framework, we can look at your records and explain what is required for your FRS 105 Micro Entity Accounts.

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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 It Means for Qualifying Micro-Entities

FRS 105 is the UK financial reporting standard written specifically for micro-entities — very small companies that meet the size conditions for the micro-entities regime and choose to apply it. In plain terms, it sets out how a qualifying company’s financial statements should be put together: what is recognised, how amounts are measured, and how the accounts are laid out. Its rules are deliberately streamlined, and the resulting accounts are shorter and more straightforward than those prepared under FRS 102, the framework used by most other small companies. The important point is that the micro-entities regime is a choice available to companies that qualify, not something that is applied automatically. Where a company qualifies and decides to use the regime, FRS 105 is the standard that applies to those micro-entity accounts. Alongside the accounts themselves, there are separate obligations such as filing with Companies House and dealing with Corporation Tax through a CT600 — these are distinct tasks, even though they draw on the same underlying figures. For a Barking company with simple books, FRS 105 Micro Entity Accounts can keep reporting focused and proportionate.

Who Can Use FRS 105 in the UK?

FRS 105 is designed for companies that are eligible for the UK micro-entities regime and that decide to apply it to their accounts. The starting point is size. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of these 3 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. The applicable conditions are tested on the correct basis for the accounting period in question, and the position is reassessed for each period, so a company can move in and out of the regime over time. Crucially, the size tests are only part of the picture. Other eligibility rules and exclusions can apply, and certain types of entity are not able to use the micro-entities regime at all, whatever their figures look like. Meeting the thresholds therefore does not by itself guarantee eligibility, and eligibility does not oblige a company to use the regime — FRS 105 applies when a qualifying company chooses it. For companies in Barking and across the UK, the practical answer is to have the position checked against your legal form, ownership structure and financial results before deciding how to prepare your FRS 105 Micro Entity Accounts.

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

Preparing FRS 105 Micro Entity Accounts is not simply a matter of copying figures from your bank statements. The numbers need to be built up from your financial records — sales, purchases, expenses, assets, liabilities, and any amounts owed to or by the company — and then presented in line with the recognition, measurement and disclosure requirements of FRS 105. In practice that means agreeing the balances, dealing with items such as accruals, prepayments, stock and fixed assets where relevant, and making sure the figures in the accounts agree with what is reported elsewhere. We prepare the financial statements for your company on that basis and can also handle submission to Companies House as a separate step. It is worth being clear that this is not the same as your Corporation Tax position: a CT600 is a separate filing made to HMRC, and the tax calculations and any reliefs claimed are dealt with independently of the accounts. We work from the information you provide, apply the reporting requirements that are relevant to your company, and explain the assumptions behind the figures so you can see how the accounts have been arrived at. No preparer can guarantee a particular filing outcome, but careful, well-documented preparation gives you a sound basis and a clear record of the position taken.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Barking

If you run a small company in Barking and want your FRS 105 Micro Entity Accounts handled properly, the best starting point is a conversation. Tell us about your company — its trading activity, its accounting period, who owns it and how it is structured — and share the records you hold, such as bank statements, invoices, receipts, payroll information and details of any assets or loans. With that information we can assess whether the micro-entities regime appears to apply to you, flag anything that needs clarifying, and explain the options open to you before any work begins. We can talk you through what is involved in preparing the accounts, how that sits alongside your other filing obligations, and what a fixed-fee approach would look like for your circumstances. There is no obligation and no pressure — just a clear discussion about your FRS 105 Micro Entity Accounts and the practical next steps.

─── 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-entity accounts. It sets out the rules for recognising and measuring the items in a very small company's financial statements and for the limited disclosures that accompany them. It is the standard that applies when a qualifying company chooses to adopt the micro-entities regime, and it is deliberately simpler and shorter than the frameworks used by larger companies.

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 required to use it — the regime is an option. A company also needs to be the right kind of entity, because certain companies are excluded from the regime regardless of size. Meeting the size tests alone therefore does not always mean FRS 105 is available, so it is worth checking the specific rules and exclusions that apply to your company.

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 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 size conditions, but they are not the whole story. Other eligibility rules and exclusions can apply, and the tests are assessed on the correct basis for your accounting period, so a review of your particular circumstances is always advisable before relying on the micro-entities regime.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime for companies that qualify — it is a choice, not a requirement. A qualifying company may instead prepare its accounts under another framework, such as FRS 102, which produces fuller financial statements with more disclosures. Some companies prefer the extra detail, particularly if a lender, investor or group company wants more information. The decision is usually best made by looking at who relies on the accounts and what they need from them.

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 105 is a streamlined standard for qualifying micro-entities: it has simplified measurement rules and much lighter disclosure requirements, so the accounts are typically short. FRS 102 is the framework used by most other small companies; it allows more accounting options, includes fair value and revaluation possibilities in some cases, and requires considerably more notes to the accounts. The right choice depends on your eligibility and on what the users of your accounts need.

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

The accounts prepared for a company are normally filed at Companies House, subject to the filing requirements that apply to it — micro-entity accounts are filed in a prescribed format, and the rules for what must be included differ from full accounts. Filing the accounts is a separate exercise from preparing them, and it is also separate from your Corporation Tax position. We can prepare your FRS 105 Micro Entity Accounts and deal with the Companies House submission as a distinct step in the process.

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

Yes, they are two different things. The FRS 105 accounts are the company's financial statements, prepared under the micro-entities regime and generally filed at Companies House. A CT600 is a Corporation Tax Return submitted to HMRC to report the company's taxable profits and work out the tax due. The accounts usually provide the starting point for the tax computation, but the two documents serve different purposes, go to different bodies, and follow their own rules.

Can a new limited company use FRS 105?

A newly incorporated company is not automatically outside the micro-entities regime, but there is a practical point to consider: in a first accounting period a company has no prior-year history, so the size conditions are usually assessed using the figures for that period, and the position can change as the business grows. It is also possible for a company to qualify in one year and not the next. Because the tests are looked at afresh each period, many small companies start out under the micro-entities regime and review the position as their turnover, balance sheet and headcount change.