─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Folkestone

If your company qualifies for the UK micro-entities regime and has chosen to apply it, FRS 105 Micro Entity Accounts provide the financial reporting framework used to prepare your annual accounts. FRS 105 sits at the simplest end of the UK accounting standards, built around the reduced disclosure requirements of the micro-entities regime, so the focus stays on the figures that matter rather than on pages of notes. Done well, FRS 105 Micro Entity Accounts are prepared from accurate records, with accounting policies applied consistently and presented in a way that reflects how your company actually trades. Our Folkestone team supports directors and company owners throughout, from reviewing the bookkeeping through to preparing financial statements that are ready for you to consider and approve. We take time to understand your business so the accounts rest on the right basis, and we are always clear that eligibility for the micro-entities regime depends on your company’s own size and circumstances rather than on the standard alone.

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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: What It Means for Qualifying Micro-Entities

FRS 105 is the Financial Reporting Standard that applies to the UK micro-entities regime. In plain terms, it is a simplified accounting framework that qualifying companies can choose to use when preparing their annual financial statements. Because the micro-entities regime allows for a shorter, less detailed set of accounts, FRS 105 strips back many of the accounting options and disclosures found in larger frameworks, which can make the accounts more straightforward to prepare and easier for a reader to follow. It helps to be precise about one point: the micro-entities regime is a choice, not an obligation. A company that qualifies is not forced to apply it, but if it does apply the micro-entities regime, FRS 105 is the standard that governs the accounts. FRS 105 Micro Entity Accounts typically include a balance sheet, a profit and loss account and a limited number of supporting notes, giving a concise picture of the company’s position for the period. If you are unsure which framework suits your company, the sensible starting point is confirming whether it meets the relevant size conditions and whether the micro-entities regime is genuinely the right fit before any accounts are drafted.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that 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 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 not the whole picture. Other eligibility rules and exclusions apply, and some types of company and some entities are not able to use the regime at all, so eligibility has to be assessed against the company’s own circumstances for the period in question. It is also worth remembering that the micro-entities regime is a choice rather than an obligation, so a qualifying company may still decide that another framework is more appropriate for how it trades or reports. If you are based in Folkestone or elsewhere in the UK and want to know whether FRS 105 Micro Entity Accounts are available to your company, we can review your position with you and explain the options before any 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 Accounts and Accurate Financial Reporting

FRS 105 Micro Entity Accounts should be built on your company’s own financial records and prepared in line with the reporting requirements that apply to your circumstances. We begin with the bookkeeping, bank records and supporting documents, then prepare the financial statements — typically a balance sheet, a profit and loss account and a small number of notes — so the figures are consistent, clearly presented and explained to you before anything is finalised. Where you need it, we can also support you with filing those accounts with Companies House. It is worth keeping that step separate in your mind from your Corporation Tax position: the accounts are one submission, while a CT600 Corporation Tax Return is a separate filing made to HMRC and calculated on its own basis. We do not claim guaranteed compliance, guaranteed acceptance of any filing, or approval by any regulator or authority. What we do is prepare and check the FRS 105 Micro Entity Accounts carefully, talk you through the numbers, and flag anything that needs your attention or a decision before submission.

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ACCA

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Get Help With Your FRS 105 Micro Entity Accounts in Folkestone

If your company is considering FRS 105 Micro Entity Accounts, a short conversation is usually the quickest way to understand what is involved. Tell us about your business, your accounting period and how your records are kept, and we will explain the information we need in order to assess your circumstances, the framework that appears to suit your company and the steps that follow. Many directors come to us partway through the year, with records that are not fully up to date or with uncertainty about whether the micro-entities regime is open to them — that is entirely normal, and it is a good moment to get things on track. We offer clear, transparent pricing with fixed-fee options for micro-entity accounts work, and we will set out what is included before any work begins. Get in touch with our Folkestone team to discuss your FRS 105 Micro Entity Accounts requirements.

─── 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 applies to the micro-entities regime. It is the framework used to prepare the annual accounts of companies that qualify for that regime and have chosen to apply it. It is deliberately simplified compared with broader standards such as FRS 102, with fewer accounting options and reduced disclosure, which suits very small companies that want clear and concise financial statements.

Who can use FRS 105?

FRS 105 can be used by companies that qualify for the micro-entities regime and decide 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. Other eligibility rules and exclusions can also apply, so satisfying the size conditions on their own does not confirm that 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 where it does, FRS 105 is the standard that governs how the accounts are prepared. Some qualifying companies still prefer a different framework because of the way particular transactions or arrangements are treated, so the choice is worth reviewing before the accounts are drafted.

What is the difference between FRS 105 and FRS 102?

FRS 102 is the general UK accounting standard used by a much wider range of companies, including small entities applying the small companies regime. FRS 105 is narrower and more simplified: it is available only to qualifying micro-entities, it restricts or removes a number of accounting options, and it reduces the disclosure required in the accounts. In practice, FRS 105 Micro Entity Accounts tend to be shorter and more straightforward than accounts prepared under FRS 102.

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

Yes. Where a company prepares annual accounts, those accounts normally need to be filed with Companies House, and micro-entity accounts prepared under FRS 105 are no exception. Filing the accounts is a separate exercise from reporting to HMRC for Corporation Tax. We can prepare the FRS 105 Micro Entity Accounts and support you with the Companies House filing, and we will confirm the filing position that applies to your company.

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

Yes, they are separate. FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime, whereas the CT600 is the Corporation Tax Return submitted to HMRC. The figures in the accounts often inform the tax return, but the two are prepared on different bases and filed with different bodies. Preparing the accounts does not, by itself, deal with your Corporation Tax obligations.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105 for its first accounting period if it qualifies for the micro-entities regime and chooses to apply it. Because a company's size is measured for the period in question, and because other rules and exclusions can affect eligibility, it is worth checking the position early — particularly if the business expects to grow quickly or has more involved transactions. We can review your first-period circumstances with you.

What information is needed to prepare FRS 105 accounts?

As a starting point we look for your accounting period dates, bank statements, sales and purchase records, payroll information if you employ staff, details of assets and liabilities, and records of any loans, directors' transactions or other items that affect the figures. If your bookkeeping is already organised, we can usually build from that; if it is not, we can talk through what needs tidying up first. The more complete the records, the smoother the preparation of your FRS 105 Micro Entity Accounts.