─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Chiswick

FRS 105 Micro Entity Accounts are the statutory financial statements prepared under the micro-entities regime, a simplified reporting framework available to UK companies that qualify for it and choose to apply it. If your company is based in Chiswick and you are weighing up whether the micro-entities regime suits your circumstances, professional preparation can help you get the detail right — from the balance sheet and notes through to the disclosures FRS 105 requires. Because eligibility depends on more than turnover alone, and because the regime is a choice rather than an automatic entitlement, it is worth reviewing your position before your accounts are prepared. Working with someone who deals with FRS 105 Micro Entity Accounts regularly means your financial statements are put together around your actual trading activity, your accounting records and the rules that apply to your company, rather than a one-size-fits-all template.

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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: Simplified Accounts for Qualifying Micro-Entities

FRS 105 is the UK financial reporting standard that applies when a company qualifies for the micro-entities regime and decides to use it. In plain terms, it is the most streamlined set of accounting rules available to very small companies: it is built around historical cost, keeps measurement straightforward and asks for far fewer disclosures than the standards used by larger businesses. The micro-entities regime itself is an accounting framework offered under UK company law — it is not something a company is automatically placed into, and qualifying businesses can instead choose a different framework such as FRS 102 if that better reflects what they need. When the micro-entities regime is chosen, FRS 105 is the standard that governs how the financial statements are drawn up, which is why the two are usually talked about together. For a small company in Chiswick, that generally means simpler, shorter accounts that still present the company’s financial position fairly and in line with the applicable requirements.

Who Can Use FRS 105 in the UK? Qualifying for the Micro-Entities Regime

FRS 105 is designed for companies that qualify for the UK micro-entities regime and actively 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. Those are the headline size tests, but they are not the entire test. Other eligibility rules and exclusions can apply, and some companies are unable to use the regime whatever their size, so meeting the thresholds alone does not guarantee that a business qualifies. It is also worth remembering that the regime is optional: a qualifying company can choose FRS 105 accounts or use a different applicable framework. For a limited company in Chiswick, the practical approach is to look at your trading levels, balance sheet position and staffing numbers alongside the wider rules, then confirm whether the micro-entities regime is a good fit before the accounts are prepared.

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 Chiswick

Professionally prepared FRS 105 Micro Entity Accounts start with your records: bookkeeping, bank transactions, invoices, payroll information and any asset or liability detail relevant to the period. From there, the balance sheet and supporting notes are drawn up in line with FRS 105 and the micro-entities regime, applying the recognition, measurement and disclosure requirements that fit your company’s circumstances. It is worth keeping two things clearly separate in your mind. First, there is the preparation of the financial statements and their filing with Companies House as part of your annual accounts. Second, there is your Corporation Tax position, which is dealt with through a separate CT600 return submitted to HMRC, supported by tax computations that adjust your accounting figures. Preparing tidy, well-supported FRS 105 accounts makes both conversations easier, because the figures are consistent and the underlying records can be followed. What professional preparation cannot do is guarantee any particular filing outcome — responsibility for the accounts and the information filed always rests with the company and its directors — but it does help ensure your FRS 105 Micro Entity Accounts are put together thoughtfully and on a proper footing.

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Get Help With Your FRS 105 Micro Entity Accounts in Chiswick

If you would like support with your FRS 105 Micro Entity Accounts, the sensible first step is a conversation about your company rather than a form to fill in. Tell us how the business is structured, what it does, roughly how it has traded over the period, and whether you have previously prepared accounts under FRS 105 or another framework. It also helps to share your accounting records, prior-year accounts if you have them, and details of any changes such as new assets, loans or share movements. With that information we can look at whether the micro-entities regime appears to suit your circumstances, explain what the preparation process involves and set out clear, transparent pricing for the work. There is no obligation and no pressure — just practical guidance on your FRS 105 Micro Entity Accounts.

─── 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 that sets out how financial statements are prepared when a company applies the micro-entities regime. It is the most simplified framework available under UK accounting standards: it is based on historical cost, limits the accounting options available and requires far fewer notes than the standards used by larger companies. When a qualifying company chooses the micro-entities regime, FRS 105 is the standard that governs the accounts.

Who can use FRS 105, and what are the current eligibility criteria?

FRS 105 is intended for 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 size tests is not the whole story, however — other eligibility rules and specific exclusions apply, so qualifying is not automatic and the position should be checked for your company.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting framework, not a requirement. A company that qualifies can choose to apply it and therefore prepare FRS 105 accounts, or it can use another applicable framework such as FRS 102, which allows more accounting options but generally requires more disclosure. The choice affects how the accounts look and how much information they include, so it is worth considering what suits your business and its users.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they differ in complexity. FRS 105 is designed for the micro-entities regime and keeps things deliberately simple, with historical cost accounting and minimal disclosures. FRS 102 is used by a wider range of companies — including small companies applying the small entities provisions — and offers more accounting options, such as certain fair value and revaluation treatments, alongside a greater number of required notes. Which one applies depends on the regime your company qualifies for and chooses.

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

Yes. The accounts prepared under FRS 105 form your company's annual accounts, and those are filed with Companies House for the financial period in question. Filing the accounts is a separate exercise from your Corporation Tax obligations. Under the micro-entities regime, the accounts filed at Companies House are typically presented in a condensed form, and the rules in this area are changing — we can talk you through what applies to your filing when the time comes.

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

Yes, they are two different things. FRS 105 accounts are the statutory financial statements prepared under the micro-entities regime and filed with Companies House. A CT600 is a Corporation Tax Return submitted to HMRC, supported by tax computations that start with your accounting figures and then adjust them for tax purposes, for example for disallowable expenses or capital allowances. The two are linked because they draw on the same underlying records, but they are prepared and filed separately.

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

In practice we need a clear picture of the company's financial activity for the period. That usually means bookkeeping or accounting records, bank statements, sales and purchase information, payroll details, and records of any assets, loans, director's loans or share capital movements. Prior-year accounts are helpful for consistency, along with details of any significant one-off transactions. If your records are incomplete, tell us — part of the process is often tidying things up before the accounts are drawn up.

What changes are coming to micro-entity accounts filing?

Filing requirements for small and micro-entity companies at Companies House are being reformed, with changes that will affect the amount of financial information filed — including profit and loss information, which micro-entity filers have historically not had to submit. The detail and timing are set by the relevant regulations, so the position can differ depending on your accounting period. Rather than rely on assumptions, it is worth checking what applies to your company's next filing, and we can review that with you as part of preparing your FRS 105 Micro Entity Accounts.