FRS 105 micro-entity accounts in Horam

FRS 105 accounts for Horam companies

FRS 105, the Financial Reporting Standard applicable to the Micro-entities Regime, sets the recognition and measurement rules for the smallest companies. It is simpler than FRS 102 Section 1A, which small companies use. Assets and liabilities are generally recorded at historical cost, there is no deferred tax and most disclosure notes fall away.

FRS 105 accounts for Horam businesses: local facts

Horam is in the Wealden council area, in the South East region. Wealden has around 8,725 VAT- and PAYE-registered businesses, and 7,970 of them, about 91%, have fewer than ten employees (ONS UK Business Counts, 2026). That is the group the micro-entity rules were written for.

The largest groups of micro businesses in Wealden are construction (1,520), professional, scientific and technical services (1,330) and wholesale and retail (1,050). If you work in construction in Horam, Construction Industry Scheme deductions, retentions and stage payments can distort profit, so we reconcile your CIS statements before the accounts are prepared. That puts construction at 19% of the local micro-business base.

Zooming in, the ONS neighbourhood area around Horam (Wealden 011) has 445 VAT- or PAYE-registered businesses, and 410 of them (92%) are micro businesses.

Wealden ranks 395 of the 1105 areas we serve by number of micro businesses, and its micro share of 91% is above the 89% average across them. In professional, scientific and technical services (1,330 micro businesses in Wealden), fee income, work in progress at the year end and how directors are paid are the key decisions, so we plan these with you before the accounts are finalised. In wholesale and retail (1,050 micro businesses in Wealden), closing stock and the VAT treatment of different product lines are the usual pressure points, so we value stock carefully and check your VAT records.