─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Chandler's Ford: Clear Financial Reporting for Qualifying Companies

If your company is considering the micro-entities regime, FRS 105 Micro Entity Accounts provide the financial reporting framework for qualifying micro-entities that choose to apply it. FRS 105 is not a tax return and it is not automatic; eligibility depends on the relevant size criteria and other rules, and the company must decide to use the regime. Professional preparation can help ensure the accounts are put together appropriately for your company’s circumstances, using the financial records you provide and reflecting the applicable reporting requirements. For companies in Chandler’s Ford, this can mean clear, proportionate financial statements that support your Companies House filing and sit alongside your separate Corporation Tax obligations. We can help you understand whether FRS 105 may be suitable and prepare the accounts on that basis where it applies.

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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 FRS 105 Micro Entity Accounts Mean for Chandler's Ford Companies

FRS 105 is the UK financial reporting standard designed for companies that qualify as micro-entities and choose to apply the micro-entities regime. In simple terms, it gives smaller companies a simpler way to prepare their financial statements, with reduced disclosure requirements compared with larger-company frameworks. The regime is optional: a qualifying company can choose it, and FRS 105 applies when that choice is made. It is not compulsory for every micro-entity, and not every small company will qualify. For a Chandler’s Ford company, FRS 105 Micro Entity Accounts can help present the business’s financial position and performance in a proportionate way, provided the eligibility conditions are met and the regime is selected. The accounts are separate from a CT600 Corporation Tax Return, which is filed with HMRC.

Who Can Use FRS 105 Micro Entity Accounts in the UK? A Guide for Chandler's Ford Companies

FRS 105 Micro Entity Accounts are intended for companies that qualify for the UK micro-entities regime and choose to apply it. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the 3 applicable size conditions, subject to the relevant rules and exclusions: turnover of no more than £1 million, balance sheet total of no more than £500,000, and an average of no more than 10 employees. However, meeting these size conditions alone does not always guarantee eligibility. Other eligibility rules, exclusions and company-specific circumstances can affect whether the micro-entities regime is available. In Chandler’s Ford, companies considering FRS 105 Micro Entity Accounts should review their position carefully and confirm that the regime is both available and suitable before preparing accounts on that basis.

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 in Chandler's Ford

Professionally prepared FRS 105 Micro Entity Accounts are based on your company’s financial records and the reporting requirements that apply to it. Where your company qualifies for the micro-entities regime and has chosen to apply it, we can prepare financial statements under FRS 105 using the information you provide. The preparation of the accounts and the Companies House filing are dealt with separately from your Corporation Tax obligations: a CT600 is submitted to HMRC, while accounts are filed with Companies House. Our role is to help you present the figures and disclosures appropriately for the framework, based on the records and instructions supplied. We do not approve or regulate the accounts, and any filing remains subject to the relevant rules and the authorities’ own processes.

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ACCA

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Get Help with Your FRS 105 Micro Entity Accounts in Chandler's Ford

If you need help with FRS 105 Micro Entity Accounts in Chandler’s Ford, or you are unsure whether the micro-entities regime is right for your company, get in touch. We will discuss your circumstances, explain the information required and help you understand the next steps. To assess your position, it is useful to have details of your turnover, balance sheet total and average number of employees, along with your accounting records, prior accounts and any other relevant information. Whether you are newly incorporated or have been trading for years, we can help you work through your FRS 105 Micro Entity Accounts requirements and how they fit alongside your other company filing responsibilities.

─── 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 simpler accounting framework with reduced disclosure requirements, while still requiring the company's financial statements to be prepared on a consistent basis. FRS 105 is not a tax return; it applies to the accounts, and a company must meet the relevant eligibility rules and choose the regime for it to be used.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and 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, subject to the relevant rules and exclusions: turnover of no more than £1 million, balance sheet total of no more than £500,000, and an average of no more than 10 employees. Meeting the size conditions alone does not automatically guarantee eligibility, because other rules and exclusions can apply.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime for qualifying companies, not a compulsory one. A company that qualifies may choose to apply it, and FRS 105 applies when that choice is made. If a qualifying company does not choose the micro-entities regime, it would generally prepare accounts under another applicable framework, such as FRS 102. The decision should be based on the company's circumstances and reporting needs.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the broader UK GAAP framework for many companies and includes more extensive disclosure and accounting requirements. FRS 105 is designed specifically for qualifying micro-entities that choose the micro-entities regime, with simpler financial statements and fewer disclosures. There can also be measurement differences between the two frameworks. A company that does not qualify for the micro-entities regime, or that wants a more detailed reporting framework, may need to use FRS 102 or another applicable standard.

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

Where a company prepares FRS 105 Micro Entity Accounts and is required to file accounts, those accounts are generally filed with Companies House in line with the applicable filing requirements. This filing is separate from the company's Corporation Tax Return (CT600), which is submitted to HMRC. The exact filing position depends on the company's circumstances, the accounting period and the current rules, so it is worth confirming the requirements for your company.

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

Yes. FRS 105 Micro Entity Accounts are financial statements prepared under the micro-entities regime, while a CT600 is a Corporation Tax Return submitted to HMRC. The two are connected because the accounts and tax computations both draw on the company's financial records, but they serve different purposes and go to different authorities. Preparing the accounts does not automatically complete the Corporation Tax filing, and tax computations may need separate attention.

Can a new limited company use FRS 105?

A new limited company may be able to use FRS 105 if it qualifies for the micro-entities regime and chooses to apply it. Eligibility depends on the applicable size conditions, rules and exclusions, and a new company may have a short or first accounting period that affects the assessment. It is not automatic, so it is sensible to check the position before preparing the accounts. If the company qualifies and selects the regime, FRS 105 can be used for those accounts.

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

To prepare FRS 105 Micro Entity Accounts, we would typically need the company's accounting records, such as bank statements, sales invoices, purchase invoices, receipts, payroll information, details of assets, loans, stock and any other relevant transactions. It also helps to have information to assess eligibility, including turnover, balance sheet total and average employee numbers, along with prior accounts and confirmation of the accounting regime chosen. The more complete the records, the more efficiently the accounts can be prepared.