─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Chalfont St Giles

If your company keeps its financial statements simple, FRS 105 Micro Entity Accounts may be the right framework for you. FRS 105 is the financial reporting standard that applies when a qualifying company chooses to apply the UK micro-entities regime — it allows for a streamlined set of financial statements rather than the fuller disclosures required under other frameworks. Whether your company is based in Chalfont St Giles and trades locally, or operates further afield from a Chalfont St Giles base, the accounts still need to be prepared accurately from your underlying records, with the right figures in the right places and the correct treatment applied to your year-end balances. Professional preparation helps ensure your FRS 105 Micro Entity Accounts are put together appropriately for your company’s circumstances, that the figures are consistent with your bookkeeping and bank records, and that the resulting financial statements are ready to be filed with Companies House alongside your other statutory obligations. Eligibility is not automatic, so it is worth confirming your position before the accounts are drawn up.

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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 Reporting Framework for Qualifying Micro-Entities

FRS 105 is a UK financial reporting standard written specifically for micro-entities. In plain terms, it is the rulebook that sets out how a very small company’s annual accounts should be prepared and what they should contain. When a company qualifies for the micro-entities regime — and chooses to use it — FRS 105 is the standard that applies to those FRS 105 financial statements. The appeal is simplicity: FRS 105 accounts focus on a straightforward balance sheet and profit and loss format, with far fewer notes and disclosures than larger frameworks such as FRS 102. That can mean less time spent on paperwork and a clearer, shorter set of accounts for directors and shareholders to read. The trade-off is that the accounts are intentionally minimal, so they may not suit every business, particularly where a lender, investor or group parent expects more detail. It is also worth being clear that choosing the micro-entities regime does not remove your other obligations — the accounts still need to be filed, and your Corporation Tax position is dealt with separately. For companies in Chalfont St Giles, FRS 105 Micro Entity Accounts can be a sensible, proportionate way to meet your annual reporting requirements when the regime genuinely fits.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and that choose to apply it — it is not open to every small company by default, and it is not suitable for larger entities or for those excluded from the regime. 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 are size-related tests, and satisfying two of the three is the usual starting point rather than the whole answer. Other eligibility rules and exclusions can also apply, and some categories of company are prevented from using the regime regardless of how small they are. Meeting the size thresholds therefore does not automatically guarantee eligibility, and it does not oblige a qualifying company to use FRS 105 either — the regime is a choice. For a director in Chalfont St Giles weighing up the options, the sensible approach is to look at the company’s turnover, balance sheet total and average headcount across the relevant periods, consider whether any exclusions apply, and then decide whether the micro-entities regime gives the reporting outcome you actually want.

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

FRS 105 Micro Entity Accounts are only as good as the records behind them. The preparation process starts with your bookkeeping, bank statements, sales and purchase records, payroll information, and any asset or liability details for the period, so that the financial statements reflect what actually happened in the business. From there, the accounts are drafted in line with FRS 105 and the micro-entities regime, using the formats and disclosures that the framework permits. It is important to keep the different filing obligations separate: the FRS 105 financial statements are prepared for the company and filed at Companies House as part of the annual accounts requirement, while the Corporation Tax Return (CT600) is a distinct submission made to HMRC. A Confirmation Statement is a further, separate filing and is not the same thing as the accounts. Good preparation means each of these is handled on its own terms, with figures that agree where they should, and with a clear audit trail from your records to the finished accounts. It also means flagging anything that could affect how the accounts are presented — such as a change in trading activity, a new loan, or director’s loan movements — before the accounts are finalised. No accountant can promise a particular filing outcome, but careful, methodical preparation gives you the best foundation for accurate reporting.

ICAEW

ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Chalfont St Giles

If you would like your FRS 105 Micro Entity Accounts prepared properly, the best first step is a conversation. Tell us about your company — what it does, roughly how it is structured, and what period the accounts cover — and we can talk through whether the micro-entities regime looks suitable for you. It also helps to have a few basics to hand, such as your latest trial balance or bookkeeping records, bank statements for the period, details of any fixed assets, loans or director’s loan account movements, and confirmation of your year-end date. From there we can discuss how the accounts will be prepared, what information is still outstanding, and how the FRS 105 financial statements fit alongside your Companies House filing and your separate Corporation Tax obligations. Whether you are a director in Chalfont St Giles running a small trading company or a newly formed limited company unsure where to start, we are happy to review your circumstances and explain the options clearly, with fixed-fee options and transparent pricing available.

─── 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 micro-entities. It sets out the recognition, measurement and disclosure requirements that apply when a qualifying company chooses to apply the micro-entities regime. In practice, it produces a short, simple set of financial statements — typically a balance sheet and a profit and loss account with limited notes — rather than the longer, more detailed accounts required under fuller frameworks such as FRS 102.

Who can use FRS 105?

FRS 105 is available to companies that qualify as micro-entities and that choose to apply the micro-entities regime. Qualifying is not the same as being automatically entitled: certain companies are excluded from the regime regardless of their size, and the eligibility rules include conditions beyond simple size tests. This is why it is worth checking your position rather than assuming FRS 105 applies because your company is small.

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 meets the eligibility conditions can choose whether or not to apply it. Some directors prefer FRS 105 for its simplicity, while others opt for a fuller framework because a lender, investor or parent company expects more disclosure. FRS 105 applies when the micro-entities regime is the regime you have chosen.

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 not by itself a guarantee of eligibility, because other rules and exclusions can apply — including restrictions on certain types of company. The criteria should always be considered alongside your specific circumstances.

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. FRS 105 is designed for micro-entities and is deliberately minimal, with a simplified balance sheet and profit and loss format and very few disclosure notes. FRS 102 is a fuller framework used by small and larger entities and requires considerably more disclosure, including notes on accounting policies and other matters. Choosing between them affects how much detail appears in your filed accounts.

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

Yes. Where a company has chosen the micro-entities regime and FRS 105 applies, the resulting financial statements still form the company's annual accounts and need to be filed at Companies House within the applicable filing period. Filing the accounts is separate from dealing with Corporation Tax, and also separate from the Confirmation Statement, which is a different filing altogether. Each obligation has its own requirements and its own deadline.

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

Yes, they are two distinct things. The FRS 105 financial statements are the company's accounts, prepared under the micro-entities regime and filed at Companies House. The CT600 is a Corporation Tax Return submitted to HMRC to report the company's taxable profits and calculate the tax due. The figures in the two documents are related, because both start from the company's trading results, but they are prepared and submitted separately and to different bodies.

Can a new limited company use FRS 105?

It depends on whether the company qualifies for the micro-entities regime in its first accounting period and whether the regime is then chosen. A newly incorporated company with minimal activity may well fall within the size conditions, but eligibility also depends on the type of company and any exclusions that apply. First-period accounts sometimes need extra care, for example where the accounting period is longer than twelve months or where trading started partway through, so it is worth reviewing the position before preparing the accounts.