─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Hambrook

FRS 105 Micro Entity Accounts are the streamlined financial statements prepared under the micro-entities regime, and for many small companies in Hambrook they offer a simpler route to meeting annual reporting obligations. FRS 105 is the financial reporting standard that applies when a qualifying company chooses to adopt the micro-entities regime, producing accounts that are shorter and more straightforward than those prepared under larger-company frameworks. Professional preparation helps to ensure your FRS 105 Micro Entity Accounts reflect your actual bookkeeping and financial records, are presented consistently with the disclosure requirements of the standard, and are ready to support the separate filing and tax steps that follow. Eligibility is not automatic, though — a company must qualify for the micro-entities regime and then decide to apply it, and other rules or exclusions can affect that position. We work with directors and owners across Hambrook to review their circumstances, confirm how the regime applies to them, and prepare accounts that give a clear, honest picture of the business.

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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.
  
 
      Posted on Google  
   
   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
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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.
  
 
      Posted on Google  
   
   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 Regime in Plain English

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In simple terms, it sets out how a qualifying company prepares its annual accounts when it chooses to use the micro-entities regime: a shorter balance sheet, a simpler profit and loss account, and a much smaller set of notes than you would see under FRS 102 or full UK GAAP. The thinking behind it is that very small companies should not face the same reporting burden as much larger businesses. It is worth being clear about how the pieces fit together. The micro-entities regime is an available accounting regime for companies that qualify; FRS 105 is the standard that applies once that regime is chosen. Choosing it is a decision, not an inevitability, and some companies that are eligible still prefer a different framework — perhaps because of a lender, an investor, or a group relationship. For directors in Hambrook running a straightforward trading or service company, FRS 105 Micro Entity Accounts can keep the year-end process lean while still producing financial statements that are properly prepared and meaningful to the people who read them.

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

FRS 105 is available to UK companies that qualify for the micro-entities regime and choose to apply it. The regime is built around size, and for accounting periods beginning on or after 6 April 2025 a company generally needs to meet at least 2 of the following 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 during the period. Those figures give a useful starting point for companies in Hambrook, but they are not the whole picture. A range of other eligibility rules and exclusions can apply, and some types of company are not able to use the micro-entities regime at all regardless of their size. There is also a distinction between qualifying and choosing: even a company that qualifies is not obliged to use FRS 105, and may prefer a different reporting framework for commercial reasons. That is why the sensible first step is a review of your company’s turnover, balance sheet position, employee numbers, structure and any special circumstances, so you can establish whether FRS 105 Micro Entity Accounts are the right fit 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 Accounts and Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts starts with your records — bank statements, sales and purchase invoices, payroll information, expense receipts and any asset or loan details — and turns them into a set of financial statements that follow the recognition, measurement and disclosure requirements of the standard. The work typically involves reviewing the figures for consistency, checking that the balance sheet and profit and loss account agree, and making sure the disclosures reflect a micro-entity’s position rather than the fuller disclosures required elsewhere. It is important to separate the different obligations a small company has. Preparing FRS 105 financial statements is one task; filing those accounts with Companies House is a separate step; and a Corporation Tax Return (CT600) is a further, distinct submission made to HMRC based on the company’s taxable profits. A Confirmation Statement is separate again. We can help with the accounts preparation and explain how the related filings fit together, drawing on your financial records and the reporting requirements that apply to your company. What we cannot do is guarantee an outcome — acceptance of any filing rests with the relevant body, and it is the directors who remain responsible for the accounts they approve.

ICAEW

ACCA

AAT

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

If you run a small company in Hambrook and want to know whether the micro-entities regime suits you, or you simply need your year-end FRS 105 Micro Entity Accounts prepared properly, get in touch. Tell us about your business — what it does, how it is structured, who owns it, and what your records currently look like — and share the information we need to assess your circumstances, such as recent management figures, bank and loan details, and any previous accounts. We can then explain how the micro-entities regime may apply to you, what the preparation process involves, and how it sits alongside your other filing and tax obligations. Clear, transparent pricing is available, and we are happy to answer questions before you decide anything.

─── 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 a simplified basis for preparing annual accounts — a short balance sheet, a simple profit and loss account and limited notes — for companies that qualify for the micro-entities regime and choose to apply it. It is a financial reporting framework, not a tax return.

Who can use FRS 105?

It is intended for companies that qualify for the micro-entities regime and then choose to apply it. Qualification depends on size conditions as well as other rules and exclusions, so meeting the size tests alone does not automatically mean a company is eligible. The position should be checked against the specific circumstances of the company.

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 may choose to apply it, but it may also decide to prepare accounts under a different framework — for example if a lender, investor or parent company expects a fuller set of financial statements.

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 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 the criteria should be considered in full alongside your company's particular situation.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they serve different sizes of company. FRS 105 is the micro-entities standard and allows a much shorter set of accounts with limited disclosures. FRS 102 is used by larger small companies and others, and generally requires more detailed accounting, more disclosures and greater use of judgement in areas such as fair value and financial instruments.

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

Preparing the accounts and filing them are separate steps. Where a company has prepared FRS 105 Micro Entity Accounts for a financial year, those accounts will normally need to be delivered to Companies House in line with the company's filing obligations, though the exact requirement depends on the company's circumstances. Filing the accounts is not the same as submitting a Corporation Tax Return.

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

Yes. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under the micro-entities regime. A CT600 is a Corporation Tax Return submitted separately to HMRC, based on the company's taxable profits. The two are linked because the accounts inform the tax computation, but they are distinct documents with distinct purposes.

What information is needed to prepare FRS 105 accounts?

Typically we need your bookkeeping or accounting records for the period, bank statements and reconciliations, sales and purchase information, payroll details, details of any loans, assets or directors' transactions, and a copy of the previous year's accounts if there are any. Having complete records makes the preparation process smoother and helps the figures reflect what actually happened in the business.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 if it qualifies for the micro-entities regime and chooses to apply it. In the first period, eligibility is generally assessed on the figures for that period, and a company should be aware that some companies are excluded from the regime — for example certain financial sector businesses. It is worth checking your circumstances before assuming the standard applies.

What changes are coming to micro-entity accounts filing?

Company filing requirements are being updated over time, and the way accounts are prepared and delivered is evolving. Rather than relying on general assumptions or outdated guidance, it is best to confirm the position that applies to your company and financial year, and to keep your accounting records in a format that can readily support the current requirements.