─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Billericay

If your company qualifies for the UK micro-entities regime and chooses to apply it, FRS 105 sets out the financial reporting framework you use to prepare your annual accounts. FRS 105 Micro Entity Accounts are typically shorter and more straightforward than accounts prepared under other frameworks, but they still need to reflect your company’s transactions accurately and be prepared in line with the applicable reporting requirements. Working with an experienced preparer helps you build your accounts from the underlying financial records — bank transactions, sales and purchase invoices, expenses, payroll information and any asset or liability details — and present them in a form that suits your company’s circumstances. We support limited companies across Billericay and the surrounding Essex area with FRS 105 Micro Entity Accounts, explaining what information is needed, how the figures are treated under the framework, and how the accounts fit alongside your other filing and tax obligations.

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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 Reporting Framework

FRS 105 is the UK financial reporting standard written specifically for companies that qualify for the micro-entities regime and decide to apply it. In plain terms, it is a simplified set of accounting rules that lets qualifying micro-entities prepare statutory financial statements in a more condensed format than larger companies. Under this framework, accounts are generally prepared on a historical cost basis and there is no requirement for the fair value accounting and many of the disclosures that apply under fuller standards such as FRS 102. Choosing the micro-entities regime is optional — a company must first meet the relevant eligibility conditions, and only then does FRS 105 apply as the framework governing those accounts. Because the rules are narrower, the resulting FRS 105 Micro Entity Accounts usually give a concise picture of your company’s balance sheet position and its profit or loss for the period. For directors in Billericay who want straightforward, proportionate reporting without unnecessary complexity, FRS 105 Micro Entity Accounts can be a good fit when the company qualifies and the regime is chosen.

Who Can Use FRS 105 in the UK?

FRS 105 is available to companies that qualify for the UK micro-entities regime and choose to apply it — both elements matter. 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 does not automatically mean a company is eligible, because the regime also has its own rules and exclusions that can take certain companies outside it. In practice, many small limited companies in Billericay and the wider Essex area do fall within the micro-entities regime, and the next question is whether applying it is appropriate for how the business is run and what its directors, lenders or investors need to see. Where a company qualifies and the micro-entities regime is chosen, FRS 105 Micro Entity Accounts become the framework for preparing its financial statements.

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 starts with your company’s financial records. We review the information you provide — bookkeeping records, bank statements, sales and purchase documentation, expense details, payroll data, and any loan, stock or fixed asset information — and use it to build a set of financial statements that reflects your trading activity for the period. Under FRS 105 the presentation is simplified, but the figures still need to be accurate and consistent with the framework’s treatment of items such as debtors, creditors, accruals and depreciation. It is worth keeping two separate threads in mind: the financial statements themselves, which are prepared under FRS 105, and the filing of those accounts with Companies House. Corporation Tax is a distinct obligation, dealt with through a Company Tax Return (CT600) submitted to HMRC, and it is not the same thing as your FRS 105 Micro Entity Accounts. In Billericay we help directors understand how these pieces fit together, prepare the accounts from reliable records, and keep the financial reporting side of the company’s affairs organised and clearly documented.

ICAEW

ACCA

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

Whether you are preparing FRS 105 Micro Entity Accounts for the first time or want to move your existing accounts onto a clearer footing, the best next step is a conversation. Tell us about your company — its trading activity, the period you need accounts for, and the records you currently hold — and provide the information needed for us to assess your circumstances properly. We can talk through whether the micro-entities regime appears suitable for your company, what your FRS 105 Micro Entity Accounts will include, and how the accounts sit alongside your other reporting obligations. There is no obligation and no pressure; just a straightforward discussion about what you need and how we can help.

─── 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 companies that qualify for the micro-entities regime and choose to apply it. It provides a simplified framework for preparing statutory financial statements, so qualifying companies can report a concise balance sheet and profit and loss position without the fair value accounting and many of the disclosures required under fuller standards. It applies to the accounting side of your reporting — it is not a tax return and it does not replace your other filing obligations.

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. Eligibility depends on meeting the relevant size conditions and not falling within any of the rules or exclusions that take a company outside the regime. Qualifying is a starting point, not an automatic outcome — a company that meets the size tests still has to decide that the micro-entities regime is the right framework for its circumstances before FRS 105 is used.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a mandatory one. A company that qualifies may choose to apply it, in which case FRS 105 governs the accounts. Some directors prefer to use a fuller framework such as FRS 102, for example because they want to present more detail or because of arrangements with lenders or investors. The choice should be made with your specific circumstances in mind.

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 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. Meeting these size tests does not by itself guarantee eligibility, because other rules and exclusions can apply, and a company must also choose to apply the micro-entities regime for FRS 105 to govern its accounts.

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 the streamlined framework for qualifying micro-entities that choose the micro-entities regime, with a simpler presentation and far fewer disclosure requirements. FRS 102 is a fuller standard used by a much wider range of companies, and it includes accounting treatments — such as fair value measurement — and disclosures that FRS 105 does not require. Which one applies depends on the regime the company qualifies for and chooses.

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

Preparing financial statements under FRS 105 and filing accounts with Companies House are related but separate steps. A company that prepares FRS 105 Micro Entity Accounts will normally need to file accounts covering the relevant period, and the filing must meet Companies House requirements on format, content and the filing method used. If you are unsure which filing option suits your company, we can explain the choices available and how the accounts you prepare feed into that filing.

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

Yes. FRS 105 relates to the accounting and financial reporting framework used to prepare your company's financial statements. A CT600 is a separate Corporation Tax filing submitted to HMRC, and it is prepared and filed under the tax rules rather than the accounting framework. The figures in your accounts often form a starting point for the tax computation, but the two documents serve different purposes and go to different bodies.

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

We generally need a clear picture of your company's activity for the period, which usually means bookkeeping or accounting records, bank and credit card statements, sales and purchase information, details of expenses, payroll data where relevant, and information on any loans, stock, equipment or other assets and liabilities. If you use accounting software, we can often work from reports and exports rather than paper records. Once we understand what you hold, we can tell you what else may be needed, and companies in Billericay can share documents securely.