─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Carshalton Beeches

FRS 105 Micro Entity Accounts provide the financial reporting framework for qualifying micro-entities that choose to apply the UK micro-entities regime. If your company in Carshalton Beeches meets the relevant eligibility conditions, FRS 105 accounts can offer a simplified approach to preparing statutory financial statements, with reduced disclosure requirements compared to larger reporting frameworks. Professional preparation helps ensure your accounts are put together appropriately for your company’s circumstances, based on the financial records you provide and the applicable reporting rules. It is important to note that not every small company automatically qualifies for FRS 105, and eligibility depends on meeting the size criteria and other relevant conditions. Working with an experienced accountant can help you understand whether the micro-entities regime is suitable for your company and support you in preparing FRS 105 Micro Entity Accounts that reflect your business activity accurately.

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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
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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
  
 
      Posted on Google  
   
   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: Micro-Entity Accounts for Carshalton Beeches Companies

FRS 105 is a UK financial reporting standard designed specifically for companies that qualify as micro-entities and choose to apply the micro-entities regime. In simple terms, it sets out how such companies prepare their annual financial statements, allowing for a simpler format and fewer disclosures than standards used by larger businesses. When a qualifying company decides to use the micro-entities regime, FRS 105 Micro Entity Accounts become the applicable framework for its statutory accounts. These accounts typically include a balance sheet, a profit and loss account, and limited notes, giving a clear view of the company’s financial position without the complexity of fuller reporting standards. For businesses in Carshalton Beeches, understanding whether FRS 105 is right can help streamline the accounts preparation process, but the choice should always be based on the company’s specific circumstances and eligibility. Professional guidance can help you apply FRS 105 correctly and keep your financial reporting on track.

Who Can Use FRS 105 in the UK? Micro-Entity Accounts for Carshalton Beeches Companies

FRS 105 is available to companies that qualify for the UK micro-entities regime and choose to apply it. To qualify, a company generally needs to meet at least 2 of 3 size conditions for accounting periods beginning on or after 6 April 2025: 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. However, meeting these size thresholds does not by itself guarantee eligibility, as other rules and exclusions can apply. For example, certain types of company or group structures may be excluded, and the eligibility test must be considered in line with the relevant legislation. If your company is based in Carshalton Beeches and you are considering FRS 105 Micro Entity Accounts, it is worth reviewing your position carefully. A professional accountant can help you assess whether your company qualifies and whether the micro-entities regime is the right choice for your financial reporting.

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.

Professional Preparation of FRS 105 Micro Entity Accounts in Carshalton Beeches

Preparing FRS 105 Micro Entity Accounts involves taking your company’s financial records and presenting them in line with the micro-entities regime and applicable reporting requirements. A professional accountant can help you compile the financial statements, ensuring the balance sheet, profit and loss account, and any required notes are prepared consistently and based on the information available. This process is separate from filing a Corporation Tax Return (CT600), which is submitted to HMRC, and from other company obligations such as Confirmation Statements. While we prepare accounts with care and in line with the relevant framework, no accountant can guarantee acceptance by Companies House or any other outcome. What we can do is work with you to prepare FRS 105 Micro Entity Accounts that aim to reflect your company’s financial position accurately and are ready for you to review before any filing is made. If you are a micro-entity in Carshalton Beeches, we can help you navigate the preparation process with clear, transparent pricing and a focus on getting the details right.

ICAEW

ACCA

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Discuss Your FRS 105 Micro Entity Accounts Requirements in Carshalton Beeches

To get started with your FRS 105 Micro Entity Accounts, simply get in touch to discuss your company’s circumstances. We will ask for the information needed to assess whether the micro-entities regime may be suitable for you and to understand the scope of preparation required. Please have your financial records, details of your company’s activities, and any relevant prior accounts or filings to hand. We can then explain the process, outline the information we need, and provide clear, transparent pricing for preparing your FRS 105 accounts. There is no obligation, and we will not promise a particular outcome or timescale, but we will give you a straightforward view of how we can help with your FRS 105 Micro Entity Accounts in Carshalton Beeches.

─── 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 as micro-entities and choose to apply the micro-entities regime. It provides a simplified framework for preparing statutory financial statements, with reduced disclosure requirements compared to standards such as FRS 102. When the micro-entities regime is chosen, FRS 105 Micro Entity Accounts become the applicable basis for the company's annual accounts.

Who can use FRS 105?

FRS 105 is intended for companies that meet the micro-entity eligibility criteria and decide to apply the micro-entities regime. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 3 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 rules and exclusions can apply, so meeting these size thresholds alone does not automatically guarantee eligibility. Professional advice can help confirm whether your company qualifies.

Is FRS 105 compulsory for every micro-entity?

No. FRS 105 is not compulsory. A company that qualifies for the micro-entities regime can choose whether to apply it. Some qualifying companies may instead use another applicable framework, such as FRS 102 or FRS 102 Section 1A. The choice depends on the company's circumstances, its reporting needs, and any other relevant factors. If the micro-entities regime is selected, FRS 105 applies.

What is the difference between FRS 105 and FRS 102?

FRS 105 is a simpler reporting framework for qualifying micro-entities, with fewer disclosure requirements and a more streamlined format. FRS 102 is a broader standard used by many small and medium-sized companies, and it includes more detailed recognition, measurement, and disclosure rules. A company that qualifies as a micro-entity may be able to choose between FRS 105 and FRS 102 (including Section 1A for small entities), depending on its circumstances and reporting needs. The right choice should reflect the company's size, activities, and stakeholder requirements.

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

If a company prepares FRS 105 Micro Entity Accounts as its statutory accounts, those accounts will generally need to be filed with Companies House in line with the applicable filing requirements. The accounts are also usually provided to shareholders and may be used for other purposes. Filing obligations can vary, and Companies House guidance should be checked for the specific requirements and any changes. It is important to distinguish this from filing a Corporation Tax Return (CT600) with HMRC, which is a separate obligation.

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

Yes. FRS 105 Micro Entity Accounts are the statutory financial statements prepared under the micro-entities regime. A Corporation Tax Return (CT600) is a separate filing submitted to HMRC to report the company's taxable profits and calculate any Corporation Tax due. The figures in the CT600 are often based on the financial statements, but the two are distinct documents with different filing routes and deadlines. You should ensure both are handled appropriately for your company.

Can a new limited company use FRS 105?

A new limited company may be able to use FRS 105 if it qualifies as a micro-entity and chooses to apply the micro-entities regime. In its first accounting period, the company will need to assess whether it meets the relevant size criteria, which may involve considering its expected turnover, balance sheet total, and employee numbers. Other eligibility rules can apply, so it is worth checking the position carefully. Professional support can help a new company in Carshalton Beeches decide whether FRS 105 Micro Entity Accounts are suitable from the outset.

What information is needed to prepare FRS 105 accounts?

To prepare FRS 105 Micro Entity Accounts, an accountant will typically need your company's financial records, including bank statements, sales and purchase invoices, expense receipts, payroll information if you employ staff, and details of any assets and liabilities. You may also need to provide information about any previous accounts, loans, or share capital. Having your records organised and up to date can help streamline the process. The exact information required will depend on your company's activities and circumstances, and your accountant will confirm what is needed.