─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Combs: Clear, Well-Prepared Financial Statements

FRS 105 Micro Entity Accounts in Combs are designed for companies that qualify for the UK micro-entities regime and choose to apply it. FRS 105 provides the financial reporting framework behind those accounts, covering how the balance sheet, profit and loss account and supporting notes are put together under the micro-entity provisions. Professional preparation helps ensure your accounts are built up accurately from your financial records, reflect the transactions and balances actually held by the company, and are presented in a format appropriate to a micro-entity. It also helps you keep sight of the wider picture: financial statements prepared for the members and filed at Companies House sit alongside — but are separate from — your Corporation Tax obligations. Eligibility is not automatic, and meeting the size conditions alone does not guarantee that the micro-entities regime is available to a particular company, so it is worth reviewing your position before the accounts are drawn up. Whether you are filing for the first time or reviewing how your current accounts are prepared, we can help you understand what applies to your circumstances and how best to present them.

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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 Behind Micro-Entity Accounts

In simple terms, FRS 105 is the UK financial reporting standard that applies to companies using the micro-entities regime. The micro-entities regime is an optional accounting regime available to qualifying companies, and FRS 105 is the standard that must be used when a company chooses it. If a company qualifies as a micro-entity but decides not to use the regime, it would generally prepare its accounts under a different framework, such as FRS 102 Section 1A. FRS 105 is deliberately streamlined. It works on a simpler measurement basis, with fewer disclosures than larger frameworks, which suits very small companies that want straightforward, understandable financial statements without unnecessary complexity. The accounts typically include a balance sheet, a profit and loss account and a small set of notes, along with the required statements confirming the basis on which they have been prepared. What FRS 105 does not do is replace your other filing obligations. It deals with how your financial statements are prepared and presented, not with how your Corporation Tax is calculated or reported. For a small company in Combs, the practical benefit is a clearer, shorter set of accounts that reflects the reality of the business without the overhead of a fuller reporting framework.

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

FRS 105 is intended for UK companies that qualify for the micro-entities regime and choose to apply it. For accounting periods beginning on or after 6 April 2025, the size conditions are 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, and a company generally needs to meet at least 2 of these 3 conditions. Meeting those figures is not the whole story, however. Other eligibility rules and exclusions can apply — for example, certain companies that form part of an ineligible group, or that carry on particular regulated activities, may not be able to use the regime regardless of their size. A company that prepares group accounts would also fall outside it. Eligibility is assessed by reference to the company’s own financial year and can change from one period to the next, so it is worth reviewing rather than assuming. Qualifying is only half the decision: a company that qualifies may still choose a different framework if that better suits its owners, lenders or other users of the accounts. For businesses in Combs and the surrounding area, we can look at your figures, ownership structure and activities to establish whether the micro-entities regime is available and whether FRS 105 Micro Entity Accounts are the most sensible route for your financial statements.

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 with a Clear Audit Trail

Accurate FRS 105 Micro Entity Accounts start with accurate records. We work from your bookkeeping, bank information, invoices, expense records and any other supporting documents to build a financial picture of the company, then prepare the financial statements in line with the micro-entity provisions and the applicable reporting requirements. That means checking that income and costs have been captured consistently, that the balance sheet balances and makes sense, and that the figures in the accounts agree with the underlying records you hold. We also keep the two sides of the process clearly separated: preparing and filing your financial statements at Companies House is one thing, and dealing with your Corporation Tax position — including the CT600 Corporation Tax Return submitted to HMRC — is another. A Confirmation Statement is a separate filing again. Keeping these distinct avoids confusion and helps you meet each obligation on its own terms. Because eligibility for the micro-entities regime depends on your company’s own circumstances and is subject to rules and exclusions, we review your position as part of the process rather than assuming that any particular treatment applies. The aim is straightforward: well-prepared accounts, sensible presentation, and a clear explanation of what has been done and why.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts in Combs

If your company may qualify for the micro-entities regime, or you are already preparing FRS 105 Micro Entity Accounts and want them handled properly, get in touch to discuss your requirements. It helps to have a short conversation about your company’s activity, how it is structured, who owns and manages it, and what your accounting records currently look like, so we can assess whether FRS 105 is a sensible fit or whether another framework is more appropriate. We can then explain what information we need from you — typically your bookkeeping or accounting software access, bank statements, sales and purchase records, payroll details if you employ staff, and any asset or loan information — and set out clear, transparent pricing and fixed-fee options for the work involved. There is no obligation and no pressure; the first step is simply understanding your circumstances and answering your questions clearly.

─── 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 for, and choose to apply, the micro-entities regime. It sets out how a micro-entity prepares its financial statements — the measurement basis used for the figures and the limited disclosures required. It is a simpler, shorter framework than those used by larger companies, which is why it appeals to very small businesses that want clear accounts without unnecessary detail.

Who can use FRS 105?

FRS 105 is available to companies that qualify as micro-entities under the UK rules and then choose 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 also apply, so meeting the size conditions alone does not automatically mean a company qualifies or that the regime is the right choice. Eligibility should be reviewed for each accounting period.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime rather than a mandatory one. A qualifying company can choose to use it, and FRS 105 applies when that choice is made. A company that qualifies but prefers a fuller framework may instead prepare accounts under FRS 102 Section 1A, which involves more disclosures and a different measurement basis. The right option depends on the company's circumstances, its owners' needs and any other requirements that apply to it.

What is the difference between FRS 105 and FRS 102?

The main differences come down to simplicity and disclosure. FRS 105 is a compact framework built for micro-entities, using a more straightforward measurement basis and requiring far fewer notes to the accounts. FRS 102 Section 1A, which is used by many small companies that are not micro-entities, allows more accounting options and requires more disclosure. In practice, FRS 105 accounts tend to be shorter and easier to read, while FRS 102 Section 1A accounts give a fuller picture and may suit companies with more complex transactions or interested parties who want more detail.

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

Yes. Where a company prepares micro-entity accounts and is required to file accounts, those financial statements are filed at Companies House in the usual way. The filing requirements for companies have been changing, with more filings needing to be submitted online using compatible software, so it is worth checking the current position before your filing date. Filing the accounts is separate from your Corporation Tax responsibilities, which are dealt with through HMRC.

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

Yes, they are two distinct things. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under the micro-entity provisions and filed at Companies House. A CT600 is the Corporation Tax Return submitted to HMRC, which reports the company's taxable profits and calculates the tax due under tax rules. The accounts often provide the starting point for the tax computation, but the two documents serve different purposes, go to different bodies and follow different sets of rules.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 if it qualifies as a micro-entity and chooses the micro-entities regime. In the first period the average number of employees is usually assessed on the basis of the months the company has actually traded, and turnover and balance sheet total are looked at for that period. Because the rules around new companies and first accounting periods can be fiddly, it is sensible to confirm the position before the accounts are prepared rather than assuming micro-entity treatment applies.

What information is needed to prepare FRS 105 accounts?

We normally need a complete record of the company's income and expenditure for the period, bank and credit card statements, sales and purchase invoices or summaries, payroll information if the company employs anyone, and details of any assets, stock, loans, directors' loans or amounts owed to and by the company. Company details such as the registered number, period dates and any changes to share capital are also useful. Accurate, up-to-date records make the accounts quicker to prepare and reduce the chance of queries later.