─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Chadwell Heath

FRS 105 Micro Entity Accounts in Chadwell Heath are prepared under the financial reporting framework that applies to qualifying companies choosing to use the UK micro-entities regime. If your company meets the relevant size conditions and the directors decide that the micro-entities regime suits it, FRS 105 sets out how the financial statements should be put together — from the balance sheet and profit and loss account through to the limited disclosure notes the standard requires. Professional preparation helps make sure the accounts reflect your actual financial records and are built around your company’s specific circumstances, rather than being squeezed into a template that does not fit. We work with directors and owners across Chadwell Heath and the surrounding area to prepare FRS 105 Micro Entity Accounts that are clear, internally consistent and ready to be considered for filing, with the position explained in plain English at every stage.

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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 that sits alongside the micro-entities regime. In simple terms, it is a deliberately simplified accounting framework: it is designed for very small companies and it removes much of the complexity found in larger reporting standards. Under FRS 105, assets and liabilities are generally held at historic values, fair value accounting is not used, and there are far fewer disclosure notes to prepare. The important point is that the micro-entities regime is a choice, not an automatic label. A company must first qualify under the applicable size criteria and relevant rules, and then the directors must decide to apply the regime. FRS 105 only comes into play when that choice is made — a company that qualifies but prefers a different framework can generally use FRS 102 instead. For qualifying businesses in Chadwell Heath, FRS 105 Micro Entity Accounts often mean shorter, more straightforward financial statements that still meet the reporting requirements that apply to them.

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. Qualification is based on size. 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 rather than the whole story. Other eligibility rules and exclusions apply, and some entities cannot use the regime at all regardless of their size. There is also an element of choice: a qualifying company is not obliged to adopt FRS 105 and may prefer to prepare its accounts under FRS 102. If you are unsure where your Chadwell Heath company stands, we can review your circumstances, look at the figures and explain the options available to you.

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 and Accurate Financial Reporting

Professionally prepared FRS 105 Micro Entity Accounts start with your records. We review the information you provide — bookkeeping, bank statements, sales and purchase records, payroll detail, loan agreements and asset information — and use it to build financial statements that are consistent with FRS 105 and with the way your company actually trades. In practice, that means preparing the profit and loss account, the balance sheet and the notes required by the standard, and making sure the figures reconcile properly rather than simply being carried forward from one period to the next. It is worth being clear about the different obligations involved: your FRS 105 Micro Entity Accounts relate to the accounting and financial reporting framework and the accounts filing that goes with it, while a Corporation Tax Return (CT600) is a separate submission made to HMRC. A Confirmation Statement is separate again. We can help you understand which of these applies to your company so the accounts are prepared on a sound basis, based on the records available and the reporting requirements that apply to your circumstances.

ICAEW

ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Chadwell Heath

If you would like support with your FRS 105 Micro Entity Accounts in Chadwell Heath, the next step is a straightforward conversation. Tell us about your company — what it does, how it is structured, the period you need accounts for and how your books are currently kept — and we can look at whether the micro-entities regime is likely to be available to you and what preparation would involve. We will explain the information we need, how the process works and how our pricing is structured, with clear, transparent pricing and fixed-fee options where they suit. Whether you are preparing FRS 105 Micro Entity Accounts for the first time or want a second pair of eyes on an existing approach, get in touch and we will take it from there.

─── 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 used by companies that apply the micro-entities regime. It is a simplified framework: assets and liabilities are generally carried at historic values, fair value accounting is not used, and the number of disclosure notes is much smaller than under other standards. FRS 105 deals with how the financial statements are prepared and presented — it is an accounting framework, not a tax return, and it does not replace any other filing obligation your company may have.

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. Meeting those conditions is a starting point rather than the whole answer — other eligibility rules and exclusions can apply, and some entities are prevented from using the regime regardless of size.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying for the micro-entities regime does not force a company to use it. A qualifying company can generally choose between FRS 105 and FRS 102, and the directors need to consider which framework best suits the company's reporting needs and the people who rely on its accounts. Some companies value the simplicity of FRS 105, while others prefer FRS 102 because it offers more accounting options and more detailed disclosure.

What is the difference between FRS 105 and FRS 102?

FRS 105 is the more streamlined of the two. It works on a historic cost basis, does not permit revaluation or fair value accounting, and requires fewer notes to the accounts. FRS 102, including the small companies provisions in Section 1A, allows a wider range of accounting policies and asks for more disclosure. The practical effect is that FRS 105 accounts tend to be shorter and less complex, while FRS 102 accounts give a fuller picture and offer more flexibility where a company needs it.

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

Yes. Where a company prepares micro-entity accounts, those accounts form part of its statutory reporting and are filed at Companies House. The accounts are prepared for the company's members and then approved by the directors before filing. Micro-entity accounts can often be filed in a reduced form, containing less information than the full accounts prepared for members. Filing the accounts is a distinct step from anything submitted to HMRC.

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

Yes, they are separate. FRS 105 relates to the accounting and financial reporting framework used to prepare your financial statements. A Corporation Tax Return, usually submitted as a CT600, is a separate filing made to HMRC and is based on tax rules and a tax computation rather than on the accounting framework alone. The figures in your FRS 105 Micro Entity Accounts are often a starting point for that computation, but the two documents serve different purposes and go to different recipients.

Can a new limited company use FRS 105?

It may be able to, but it is not automatic. A newly incorporated company has to be assessed against the micro-entity size conditions for the period in question, and the relevant exclusions also need to be considered. The directors must then decide to apply the micro-entities regime. A first accounting period may be shorter or longer than twelve months, and that can affect how the conditions are assessed, so it is worth checking the position before assuming FRS 105 applies.

What changes are coming to micro-entity accounts filing?

The size thresholds used to determine micro-entity eligibility changed for accounting periods beginning on or after 6 April 2025, with 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 now applying, subject to the requirement to meet at least 2 of the 3 conditions. Company filing requirements and accepted filing methods also continue to evolve over time. Because the rules can change, it is sensible to check current Companies House guidance or ask us to confirm the position for your accounting period before you file.