─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Ilford

FRS 105 is the financial reporting framework that applies when a qualifying company chooses to adopt the UK micro-entities regime, and it is designed to keep statutory accounts proportionate for the smallest companies. If your company is based in Ilford, FRS 105 Micro Entity Accounts can offer a simpler route to meeting your reporting obligations, with fewer disclosures and a more concise set of financial statements than larger frameworks demand. Eligibility is not automatic. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least two of three 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 — and other rules and exclusions can still apply. Professional preparation helps ensure your accounts reflect your financial records accurately and are presented consistently with the framework you have chosen.

🔥 SAVE £100.00

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

Find Your Company

Search for your company to continue with the accounting services

Start typing to search for companies...

Results

Years filing UK company accounts

0 +

Micro entity accounts submitted

0 +

Verified Google reviews

0 +

Typical Filing Turnaround

0 Days

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 300 reviews 
    
 
 
 
   
 
 
       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 .
  
 
      Posted on Google  
   
   Mael Leboucher 
 
 
 
 Trustindex verifies that the original source of the review is Google. We worked with a few different accountants before finally settling with Accotax, and we’re really glad we did. Their team is great. Abdul is responsive and easy to reach whenever I have a question, which makes a big difference. They take the time to understand how our business works and what our needs are. They are very knowledgeable, and when they don’t have the answer straight away, they take the time to look into it and get back to us quickly. Anum, who looks after our account on a day-to-day basis, including reconciling invoices and preparing the annual accounts, is amazing. She is professional, efficient, and follows the processes we have put in place together. She's also very quickin getting back to us whenever needed. We’re very happy to work with her and hope to continue doing so for as long as possible. Overall, Accotax has made our accounting experience much smoother and easier. We see them as a long-term partner as our business continues to grow. I would 100% recommend them.
  
 
      Posted on Google  
   
   3rd Hub 
 
 
 
 Trustindex verifies that the original source of the review is Google. Imran provides a very dependable and straightforward accounting service. He is always responsive and professional when managing our accounts. Excellent support.
  
 
      Posted on Google  
   
   Martin Tyrrell 
 
 
 
 Trustindex verifies that the original source of the review is Google. I have really impressed to date with all dealings with Accotax highly enough. From day one, they've made what can often be a complicated and stressful part of running a business feel straightforward and hassle-free. A special mention has to go to Anum, who has been friendly, incredibly responsive, and genuinely cares about providing the best possible service. No question is ever too much trouble, and she consistently goes above and beyond to make sure everything is dealt with efficiently. I wouldn't hesitate to recommend you to anyone looking for an accountant they can genuinely trust.
  
 
      Posted on Google  
   
   Matthew Lyon 
 
 
 
 Trustindex verifies that the original source of the review is Google. Great speedy service and very personable. Anum dealt with my income certificate and did everything quickly and helped me out massively. Very happy with the service provided.

─── FRS 105 EXPLAINED

FRS 105 Explained: What the Micro-Entities Regime Means for Your Company

In simple terms, FRS 105 is the accounting standard that sits behind the UK micro-entities regime. It sets out how a qualifying micro-entity prepares its annual financial statements — what is reported, how items are measured, and which notes need to be included. Because it is built for the smallest companies, FRS 105 keeps things deliberately straightforward: it works on a historical cost basis, avoids much of the complexity found in standards designed for larger businesses, and produces a short, clear set of accounts. It is important to remember that the micro-entities regime is an available accounting regime rather than an automatic one. A company that qualifies can choose to apply it, and FRS 105 is the standard that applies when that choice is made. For directors in Ilford, that means a route to statutory accounts that stays proportionate to the size of the business while still meeting the applicable reporting requirements.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for UK companies that qualify for the micro-entities regime and then choose to apply it. Qualification is driven mainly by size: for accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least two of three 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. Meeting those size tests is not the whole story, however, because other eligibility rules and exclusions can apply, and some companies are prevented from using the regime regardless of their size. Nor is the regime automatic: a qualifying company can decide whether to apply it or follow a different framework, such as FRS 102. Eligibility can also change from year to year, so it is worth reviewing annually. If you run a company in Ilford and are unsure where you stand, a short review of your figures and circumstances will usually clarify whether FRS 105 Micro Entity Accounts are available to you.

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 with Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts is about presenting your company’s financial position and performance accurately and consistently with the framework you have chosen. We work from the records you provide — bookkeeping, bank and payment records, sales and purchase information, payroll details, and asset or loan documentation — and build a set of financial statements that reflects what has actually happened in your business. Once the accounts are prepared and approved by the directors, delivering those accounts to Companies House is a separate step, and it is distinct again from your Corporation Tax obligations. A CT600 Corporation Tax Return is submitted to HMRC separately from the accounts filed at Companies House, even though the figures in each are usually drawn from the same underlying records. We help you understand how these pieces fit together, so you know what is being prepared, what is being filed, where it goes, and why.

ICAEW

ACCA

AAT

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

Every company’s circumstances are different, so the most useful first step is a conversation. Tell us about your Ilford-based company — how it trades, how long it has been running, the records you keep, and whether micro-entity reporting looks like the right fit — and we can help you understand your options. If FRS 105 Micro Entity Accounts suit your position, we will explain what we need from you and how the preparation and filing process works. There is no pressure and no obligation: you simply get clear, practical guidance on the micro-entities regime, transparency about how we price our work, and the chance to ask the questions that matter to you before anything is prepared or submitted.

─── 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 is the standard that applies when a qualifying company chooses to use the micro-entities regime, and it sets out how that company's annual financial statements should be prepared. Compared with the standards used by larger companies, FRS 105 is deliberately streamlined: it works on a historical cost basis, limits the accounting options available, and requires far fewer notes to the accounts. The result is a shorter, simpler set of statutory accounts that still reports the company's financial position and performance.

Who can use FRS 105?

FRS 105 can be used by companies that qualify for the UK micro-entities regime and then choose to apply it. Qualification is largely based on size, but it is not simply a matter of being small — the relevant rules and exclusions must also be considered, and some entities are not permitted to use the regime at all. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least two of three 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.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime, not a mandatory one. A company that qualifies can choose to apply it, and if it does, FRS 105 is the standard used to prepare its accounts. A qualifying company could instead prepare its accounts under a different framework, such as FRS 102, including the small entities provisions. That choice affects how figures are measured, which notes are required, and how the numbers are presented, so it is worth thinking carefully about which framework suits the business.

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 two of the following three 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. The size test is not the only consideration — other eligibility rules and exclusions can apply, and some companies cannot use the micro-entities regime whatever their size. Eligibility can also change from one accounting period to the next, so it is sensible to review the position each year rather than assume it stays the same.

What is the difference between FRS 105 and FRS 102?

FRS 105 is the micro-entities standard, while FRS 102 is the wider UK standard for entities that do not qualify for, or choose not to use, the micro-entities regime. In practice, FRS 105 is simpler: it applies a historical cost basis, removes many of the measurement choices and fair value options available under FRS 102, and requires fewer disclosures. FRS 102, including its small entities provisions, offers more flexibility and more detailed reporting. Which framework is appropriate depends on eligibility and on the preferences of the company and its directors.

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

Yes. Where the FRS 105 accounts are the company's statutory accounts, they need to be delivered to Companies House in line with the filing requirements that apply to that company, and they also provide the financial information shared with shareholders. Micro-entity accounts can often be filed in a simplified format, which is one of the practical benefits of the regime. Filing the accounts is a separate exercise from preparing them, and separate again from any Corporation Tax filing obligations. The exact requirements depend on your company's circumstances and the rules in force at the time.

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

Yes, they are separate. FRS 105 Micro Entity Accounts are the company's financial statements, prepared under the micro-entities reporting framework. A CT600 is a Corporation Tax Return submitted to HMRC, and it is a tax filing rather than a set of accounts. The two are connected in practice, because the figures used in the tax return are usually derived from the same accounting records, but they are prepared for different purposes, sent to different recipients, and subject to different requirements.

What information is needed to prepare FRS 105 accounts?

Typically we need a complete picture of the company's trading for the period: bookkeeping or accounting records, bank and payment platform statements, sales and purchase information, payroll and employee details, details of any assets bought or sold, loan and finance agreements, stock or work-in-progress figures, VAT records where relevant, and the previous year's accounts if there are any. The more complete and organised your records are, the more straightforward preparation tends to be. If your records are incomplete or spread across different systems, that is normally something we can work through together.