─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in East Mayfield

FRS 105 Micro Entity Accounts are prepared under the financial reporting framework designed for companies that qualify for, and choose to apply, the UK micro-entities regime. If your company is based in East Mayfield and keeps straightforward records, FRS 105 can offer a simpler, shorter format of financial statements than the fuller standards used by larger businesses. Professional preparation helps make sure your accounts reflect your actual transactions and balances, follow the recognition and measurement rules that apply to the micro-entities regime, and are presented in a way that suits your company’s circumstances. It also helps you keep the accounts themselves distinct from your other obligations, such as your Corporation Tax Return (CT600) and your Confirmation Statement, which are separate filings with separate purposes. Eligibility is not automatic: a company needs to satisfy the relevant size conditions and must not fall within any of the applicable exclusions, so it is worth reviewing your position before deciding that FRS 105 Micro Entity Accounts are the right route for you.

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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 
    
 
 
 
   
 
 
       Posted on Google  
   
   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
  
 
      Posted on Google  
   
   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
  
 
      Posted on Google  
   
   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 Micro-Entities Reporting Framework

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In plain terms, it is a simplified accounting framework that qualifying companies may choose to use when preparing their annual financial statements, and it sits alongside the UK’s micro-entities regime, which sets out which companies are small enough to use it. When a company qualifies for that regime and decides to apply it, FRS 105 is the standard that governs how the accounts are put together. The main appeal is simplicity: FRS 105 financial statements are shorter and more streamlined than those prepared under FRS 102, with fewer disclosures and a simpler measurement approach, which can make the annual accounts process more straightforward for a small owner-managed company in East Mayfield. It is important to be clear about what FRS 105 is not. It is not a tax return, it is not a replacement for a Confirmation Statement, and choosing it does not remove your other filing obligations. It is an accounting and financial reporting framework, and the decision to use it rests with the company once it has confirmed that it qualifies for the micro-entities regime.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that both 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: 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 a guarantee. The micro-entities regime also comes with its own rules and exclusions, and certain company types or circumstances can affect whether the regime is available at all. In addition, the size conditions are assessed against the relevant accounting period and the applicable rules, so a company’s position can change from year to year as it grows, takes on staff, or changes what it owns and owes. That is why it is worth reviewing eligibility before each set of accounts is prepared, rather than treating FRS 105 as a permanent status. If your company is based in East Mayfield and you are unsure whether FRS 105 Micro Entity Accounts are appropriate, a review of your figures and circumstances will give you a much clearer answer than working from the size thresholds alone.

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 for East Mayfield Companies

Preparing FRS 105 Micro Entity Accounts starts with your financial records: your bookkeeping, bank and payment records, invoices, expenses, asset purchases, and any loans or balances owed to and by the company. From those records, the financial statements are built in line with the recognition and measurement rules that apply under FRS 105, and then presented in the format the standard requires for a qualifying micro-entity. In practice, that means producing a balance sheet, a profit and loss account and the limited notes that accompany them, all supported by figures that can be traced back to your underlying records. It is helpful to keep the different jobs separate in your mind. Preparing and filing the annual accounts is one task; submitting a Corporation Tax Return (CT600) to HMRC is another; and keeping your Confirmation Statement up to date at Companies House is a third. They often draw on the same information, but they are distinct requirements with distinct deadlines and distinct audiences. We can work through your FRS 105 Micro Entity Accounts alongside the wider picture, so you know what is being prepared, why it is presented that way, and what still needs to be filed elsewhere.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts in East Mayfield

If you would like help with FRS 105 Micro Entity Accounts, the best starting point is a conversation about your company. Tell us how long you have been trading, roughly what your turnover, balance sheet total and employee numbers look like, what records you already keep, and whether you have filed accounts before. A short summary of your income and costs, details of any assets the company owns, information about loans or director’s loan balances, and your previous year’s accounts if you have them will usually be enough for us to assess your circumstances and explain the options open to you. We can then set out how your accounts would be prepared, what information we would need from you, and how the accounts process fits alongside your other filing responsibilities. Get in touch to discuss your requirements 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 for micro-entities. It provides a simplified framework for preparing annual financial statements, with fewer disclosure requirements and a more straightforward measurement basis than the fuller standards used by larger companies. It applies when a company qualifies for the UK micro-entities regime and chooses to apply that regime to its accounts.

Who can use FRS 105?

It is intended for companies that qualify for the micro-entities regime and decide to use 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. Other rules and exclusions also apply, so meeting the size conditions on their own does not automatically confirm eligibility. It is worth checking your specific position, including your company type and whether any exclusions affect you.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a mandatory one. If your company qualifies, you can generally choose to apply it and prepare FRS 105 Micro Entity Accounts, or you can prepare accounts under a different framework such as FRS 102. The right choice depends on your circumstances, what the accounts will be used for, and whether anyone relying on them needs more detail than FRS 105 provides.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they differ in depth and complexity. FRS 105 is the streamlined standard for qualifying micro-entities, with a simpler measurement basis and much shorter disclosures. FRS 102 is the standard used by a wider range of companies and generally requires more detailed disclosures, more judgement in some areas, and longer financial statements overall. Some companies choose FRS 102 even when they could use FRS 105, for example where a lender or investor wants a fuller set of accounts.

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

Where a company prepares accounts, those accounts normally need to be filed at Companies House as part of its annual filing obligations, and micro-entity accounts can be filed in the appropriate format. Filing the accounts is a separate exercise from submitting a Corporation Tax Return (CT600) to HMRC and from keeping your Confirmation Statement up to date, even though the same underlying records usually feed into all of them.

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

Yes. FRS 105 Micro Entity Accounts deal with how your financial statements are prepared and reported. A CT600 is a Corporation Tax filing made to HMRC, which is a separate submission with its own requirements. The figures in your accounts will inform your tax position, but the two are not the same document and are not filed in the same place.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105 if it qualifies for the micro-entities regime and chooses to apply it. Because eligibility depends on the applicable size conditions, exclusions and the company's own circumstances, it is sensible to review this before the first set of accounts is prepared rather than assuming it applies. A short discussion about your expected turnover, balance sheet and staffing usually clarifies the position.

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

Typically you would provide your bookkeeping or accounting records, bank and payment records, sales invoices and expense receipts, details of any assets the company owns, information on loans or director's loan balances, and your previous year's accounts if you have them. From there, the accounts are prepared in line with the FRS 105 framework and presented in the required format for a qualifying micro-entity.