─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Faversham

FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime — the simplest financial reporting framework available to qualifying UK companies. FRS 105 is the standard that applies when a company both qualifies for the micro-entities regime and actively chooses to use it, and it allows for a streamlined balance sheet, profit and loss account and limited notes. For directors in Faversham running a small limited company, that can mean less administration and a set of accounts that is genuinely proportionate to the size of the business, while still meeting the underlying reporting requirements. Professional preparation helps ensure your FRS 105 Micro Entity Accounts reflect your actual financial records, are prepared on a consistent basis from one period to the next, and are presented in a way that suits your company’s particular circumstances — whether you are filing for the first time, moving across from FRS 102, or simply want reassurance that the figures and disclosures are sensibly put together before they reach Companies House. Eligibility is not automatic, so it is worth confirming your position before the accounts are drawn up.

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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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 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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 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 the rulebook that tells a very small company how to put its annual accounts together. The UK micro-entities regime sits alongside other accounting regimes, and companies that qualify for it can choose whether or not to apply it. When a qualifying company decides to use the micro-entities regime, FRS 105 is the standard that applies to those financial statements. The idea behind it is simplification: FRS 105 financial statements are built around a balance sheet, a profit and loss account and a small number of notes, with default accounting treatments that remove many of the judgement calls and disclosure requirements found in larger frameworks. That makes FRS 105 accounts quicker to prepare and easier for a director, or a lender, to read. It is important to understand that FRS 105 is an accounting and financial reporting choice — it is not a tax regime, and it does not change what a company owes in Corporation Tax. It is also a choice you make deliberately rather than something every small company falls into, and companies with certain types of activity or structure may not be able to use it at all.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then choose to apply it. Two things have to line up: the company must fall within the regime, and the directors must decide to use it. On the size side, for accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the 3 applicable 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. However, size is only part of the picture. Other eligibility rules and exclusions can restrict the use of the micro-entities regime, and certain companies may be excluded regardless of how small they are. Meeting the size thresholds therefore does not, on its own, guarantee that a company can or should prepare FRS 105 Micro Entity Accounts. If you run a company in or around Faversham and you are unsure where you stand, it is worth reviewing your circumstances — including your turnover, balance sheet position, headcount and the nature of your activities — 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

Preparing FRS 105 Micro Entity Accounts starts with your underlying records — bookkeeping, bank statements, invoices, payroll information, asset purchases and any loans or director balances. From there, the figures are worked up into a balance sheet, profit and loss account and the limited notes that FRS 105 requires, using the accounting treatments set out in the standard. The value of having this done professionally is largely about consistency and clarity: making sure the numbers tie back to your records, that the comparative figures for the previous period are handled properly, and that the presentation is appropriate for a micro-entity rather than a larger company. It is also worth separating the tasks clearly. Filing FRS 105 Micro Entity Accounts at Companies House is a company law obligation, while a Corporation Tax Return (CT600) is a separate submission to HMRC — the two are prepared from similar information and should agree, but they are not the same document and they are not filed with the same body. A Confirmation Statement is separate again, and filing it does not replace the need to file accounts. We work from the information you provide and the reporting requirements that apply to your company, and we will flag anything that needs your attention before the accounts are finalised.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts

If you are a director in Faversham and you would like help with your FRS 105 Micro Entity Accounts, the best starting point is a conversation. We can talk through your company’s circumstances, confirm whether the micro-entities regime looks like an appropriate route for you, and explain what the accounts will involve in practice. To give you a useful answer, it helps to have your most recent set of accounts or draft figures, your bookkeeping records for the period, details of any assets, loans or director’s loan account balances, and confirmation of your accounting reference date. From there we can set out how we would approach the FRS 105 Micro Entity Accounts, what information we still need, and how our fees would work — with clear, transparent pricing and fixed-fee options where they suit. Get in touch 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 sets out how a qualifying company that chooses to apply the micro-entities regime prepares its annual financial statements — typically a balance sheet, a profit and loss account and a limited set of notes. It is deliberately simplified compared with fuller frameworks, with prescribed accounting treatments and fewer disclosure requirements.

Who can use FRS 105?

FRS 105 is available to companies that qualify for the micro-entities regime and decide to apply it. Eligibility depends on the size of the company and on other rules and exclusions that can apply to certain types of company or activity. Qualifying for the regime does not force you to use it — it is a choice, and some companies prefer to stay on a fuller framework such as FRS 102.

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. Those are the headline size tests, but other eligibility rules and exclusions can apply, so meeting the size conditions alone does not automatically mean a company qualifies.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime rather than a mandatory one. A company that qualifies can choose to apply it and prepare FRS 105 accounts, or it can prepare its accounts under a fuller framework. The decision often comes down to the level of detail directors want to show, what lenders or investors expect, and how the company intends to use the accounts.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they sit at different levels of complexity. FRS 105 is the micro-entities standard, with simplified presentation, fewer disclosures and largely prescribed accounting treatments. FRS 102 is a fuller framework used by small and larger entities, and it allows more accounting policy choices and requires more extensive notes. Moving between the two can affect how certain items are recognised and measured, so the transition needs care.

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

FRS 105 accounts are the statutory accounts of the company, so where the company is required to file accounts, they are filed at Companies House. Filing accounts is a separate obligation from filing a Corporation Tax Return with HMRC, and separate again from a Confirmation Statement. The accounts and the tax return are usually prepared from the same underlying records and should be consistent with each other, but they are distinct documents.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105 from its first accounting period if it qualifies for the micro-entities regime and chooses to apply it. In practice, the first period is often shorter or longer than twelve months, which can affect how the size tests are assessed, so it is worth checking your position before the first set of accounts is prepared.

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

Typically we need your bookkeeping records or a trial balance for the period, bank statements, sales and purchase information, details of any fixed assets and how they were funded, outstanding loans and director's loan account movements, payroll information if you employ staff, and the previous year's accounts or figures. If you are moving from another framework, the prior-period comparatives and any transition adjustments also need to be considered.