─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Emsworth

FRS 105 Micro Entity Accounts provide the financial reporting framework for qualifying micro-entities that choose to apply the UK micro-entities regime. For directors of small limited companies in Emsworth, FRS 105 offers a simplified basis of accounting that concentrates on the information micro-entity shareholders and directors typically need, rather than the wider disclosure requirements found in fuller reporting frameworks. Professional preparation helps ensure the accounts are built from the company’s financial records, are presented consistently with the framework where the regime applies, and are ready for the company’s filing obligations. Eligibility is not automatic: a company must meet the qualifying conditions for the micro-entities regime, and it must choose to use it. A practical first step is therefore a review of turnover, balance sheet total, average employee numbers and any rules or exclusions that may affect the position before any accounts are prepared.

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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

What Is FRS 105? The Micro-Entities Regime Explained

FRS 105 is the financial reporting standard that applies to UK companies which qualify for the micro-entities regime and choose to use it. In simple terms, it is the lightest of the UK accounting frameworks, designed so that very small companies can prepare annual financial statements without the volume of disclosure and measurement complexity required under larger frameworks. When a qualifying company adopts the micro-entities regime, FRS 105 sets out how its accounts should be put together, what they should include, and how the figures should be presented. The result is a set of financial statements that is shorter and more straightforward for directors, shareholders and lenders to read, while still reporting the company’s financial position and performance. It is important to understand that the micro-entities regime is a choice available to qualifying companies, not a default. A company that qualifies can decide to apply it, and if it does, FRS 105 is the framework used. If it does not qualify, or decides not to use the regime, a different framework will apply instead.

Who Can Use FRS 105 in the UK?

FRS 105 is available to companies that qualify for the UK micro-entities regime and choose to apply it when preparing their annual financial statements. 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 size conditions is a starting point rather than the whole test. Other eligibility rules and exclusions also apply, and certain companies are prevented from using the micro-entities regime whatever their size. On top of that, the regime is a choice: a qualifying company may apply it and use FRS 105, or it may prefer a fuller framework. For that reason, businesses in Emsworth looking at FRS 105 Micro Entity Accounts should have their eligibility reviewed against the rules that apply to their specific accounting period before the framework is adopted.

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

Professionally prepared FRS 105 Micro Entity Accounts start with accurate bookkeeping and a clear understanding of the company’s circumstances. The accounts are built from the company’s financial records — sales, expenses, assets, liabilities, loans, director balances and stock, for example — and then presented in line with the requirements of the micro-entities regime where the company qualifies and has chosen to apply it. Preparation of the financial statements and filing those accounts with Companies House are separate steps from the company’s Corporation Tax position. A CT600 Corporation Tax Return is submitted to HMRC and deals with the company’s tax liability, whereas FRS 105 accounts are the statutory financial statements. The figures used for each purpose are related but not identical, which is why it helps to have both handled with a consistent view of the company’s records. No outcome can be guaranteed, as every company’s position depends on its own facts, records and the framework that applies to it, but careful preparation reduces avoidable queries and makes the accounts easier to review and understand.

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

If you run a small limited company in Emsworth and want to understand whether the micro-entities regime is right for you, get in touch to discuss your FRS 105 Micro Entity Accounts requirements. It helps to have to hand your latest trial balance or bookkeeping records, details of fixed assets and any loans or director balances, an indication of turnover, balance sheet total and average employee numbers, together with your company registration details and the accounting period you need covering. With that information, your circumstances can be properly assessed and you can be advised on the framework that applies, what the accounts should include, and how the financial statements and your separate Corporation Tax and Companies House obligations fit together.

─── 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 the micro-entities regime and choose to apply it. It sets out how their annual financial statements should be prepared and presented, using a simplified approach with reduced disclosure compared with the fuller UK accounting frameworks. Accounts prepared on the correct micro-entity basis are presumed to give a true and fair view of the company's financial position, which is why the framework is designed to be applied properly rather than treated as a shortened version of a larger standard.

Who can use FRS 105?

FRS 105 is intended for companies that both qualify for the micro-entities regime and decide to apply it. Qualifying is based on the size conditions set out in company law, but the rules also include exclusions and other conditions, so meeting the size tests alone does not automatically mean a company is eligible. If a company qualifies but chooses not to use the micro-entities regime, a different framework will apply to its accounts instead.

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 apply it, in which case FRS 105 is the framework used for its financial statements. Equally, a qualifying company may decide to prepare its accounts under a fuller framework such as FRS 102 instead. The choice can have an effect on the level of disclosure, so it is worth considering what shareholders, lenders and other users of the accounts need to see.

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 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. These conditions are subject to the relevant rules and exclusions, and certain companies are not able to use the regime regardless of size. Because eligibility depends on the company's own facts and the period concerned, it should be checked rather than assumed.

What is the difference between FRS 105 and FRS 102?

FRS 105 is the framework for qualifying micro-entities and is deliberately simpler, with fewer disclosures and a more restricted approach to how certain items are measured. FRS 102 is a fuller framework used by a much wider range of companies, including small companies that do not meet the micro-entity conditions or that choose not to use the micro-entities regime. In practice, the difference shows up in the length and detail of the financial statements and in the accounting treatments available, so the framework a company uses affects what the accounts look like.

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

Where a company prepares FRS 105 Micro Entity Accounts, those financial statements form the basis of its annual accounts filing at Companies House, which must be delivered within the statutory filing deadline that applies to that company. Filing the accounts is separate from filing the company's Corporation Tax Return with HMRC. It is also worth keeping an eye on how accounts filings must be submitted, as Companies House has been moving towards digital, software-based filing of accounts, with changes introduced in stages.

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

Yes, they are separate requirements. FRS 105 Micro Entity Accounts are the company's statutory financial statements, prepared under the micro-entities regime where the company qualifies and chooses to apply it. A CT600 is the Corporation Tax Return submitted to HMRC, which deals with the company's taxable profits and tax liability. The two are connected because the accounts figures are normally the starting point for the tax computation, but adjustments may be needed, so the amounts reported to Companies House and HMRC are not always the same.

What changes are coming to micro-entity accounts filing?

Companies House has been implementing changes to how annual accounts are filed, including a move towards filing through software rather than manually submitted documents, and a reduction in the filing options available to small and micro-entity companies. These changes are being introduced in stages rather than all at once. Because the detail and timing can affect how you submit your accounts, the sensible approach is to confirm the current filing requirements for your company's period before you file, rather than relying on older guidance.