─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Ingatestone

FRS 105 provides the financial reporting framework for qualifying micro-entities that choose to apply the micro-entities regime. If your company is based in Ingatestone and meets the relevant size conditions along with the other eligibility rules, FRS 105 Micro Entity Accounts can offer a simpler, more proportionate way to present your financial position, with far fewer disclosures than the frameworks used by larger companies. Professional preparation helps ensure the accounts are built properly from your financial records, presented consistently with the requirements that apply to your company, and shaped around your actual circumstances rather than a generic template. It also helps keep your statutory accounts, your supporting records and your wider filing obligations on a sound footing, so the figures you report are ones you can rely on and explain with confidence.

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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 300 reviews 
    
 
 
 
   
 
 
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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.
  
 
      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.
  
 
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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 .
  
 
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   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.
  
 
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   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.
  
 
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   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

What Is FRS 105? Micro-Entity Reporting Explained for Ingatestone Companies

FRS 105 is the UK financial reporting standard written specifically for the smallest companies: those that qualify for, and choose to use, the micro-entities regime. In plain terms, it is the rulebook that sits behind FRS 105 Micro Entity Accounts, setting out how the accounts are put together, what they must include and how the figures should be measured. Compared with the standards used by larger companies, FRS 105 is deliberately streamlined, with a simpler measurement basis and far fewer disclosure notes, which is why micro-entity accounts are usually shorter and easier to follow. The important point is that FRS 105 is not automatic. A company must fall within the micro-entities regime under the applicable rules, and its directors must decide to adopt that regime. Once that choice is made, the accounts are prepared under FRS 105. For many small businesses in Ingatestone, that means a concise set of financial statements that still gives a clear picture of the company’s position.

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

FRS 105 is intended for UK companies that qualify for the 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 during the period. Meeting those tests is a starting point rather than the whole picture. Other eligibility rules and exclusions can apply, including restrictions on certain types of company and extra considerations for companies within a group or carrying on particular regulated activities. Meeting the size thresholds alone does not automatically guarantee eligibility, and FRS 105 only applies where a qualifying company has chosen to adopt the regime. If your company is in Ingatestone, it is worth reviewing your position against the current rules before preparing FRS 105 Micro Entity Accounts.

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 Clear Financial Reporting

FRS 105 Micro Entity Accounts are prepared from your company’s financial records and the reporting requirements that apply to it under the micro-entities regime. That means working carefully through your bookkeeping, checking that income, costs, assets, liabilities and any relevant balances are treated appropriately, and then presenting the financial statements in the form the framework expects. It is helpful to keep two things clearly separate. Preparing and filing the company’s accounts at Companies House is one exercise. Meeting Corporation Tax obligations, including any Corporation Tax Return (CT600) submitted to HMRC, is a separate exercise with its own calculations and deadlines. Because the two draw on the same underlying records but are not identical, taking advice on both together usually makes the whole process smoother and reduces the risk of inconsistencies between what you file and what you report.

ICAEW

ACCA

AAT

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

If you would like help with FRS 105 Micro Entity Accounts, the best place to start is a straightforward conversation about your company. Tell us about your business in Ingatestone, the accounting period in question and anything that has changed over the year, such as new income streams, asset purchases, loan arrangements or a shift in the way the company operates. From there, we can look at whether the micro-entities regime appears to fit your circumstances and set out what information we would need to prepare the accounts. There is no obligation, and no jargon: just clear, practical guidance and transparent, fixed-fee options so you know where you stand before anything begins.

─── 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 companies that qualify for, and choose to apply, the micro-entities regime. It sets out the recognition, measurement and disclosure requirements for those companies' financial statements and is deliberately simpler than the standards used by larger businesses, which is why micro-entity accounts are usually shorter and contain fewer notes. When a qualifying company adopts the micro-entities regime, FRS 105 Micro Entity Accounts are the accounts it prepares.

Who can use FRS 105?

FRS 105 is available to UK companies that meet the definition of a micro-entity under the applicable rules and decide to apply the micro-entities regime, including newly incorporated companies, provided they meet the conditions for the period in question. It is not open to every small business, and some types of entity are excluded altogether. Companies that form part of a group, or that carry on particular regulated activities, also need to check the additional rules that apply. Being small is not, by itself, enough: eligibility and the decision to adopt the regime both need to be considered properly.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an option rather than an obligation. A company that qualifies can choose to apply it, in which case FRS 105 applies, or it can prepare its accounts under a different framework such as FRS 102. In practice the decision often comes down to the level of disclosure the directors want, the needs of lenders, investors or other users of the accounts, and whether the simpler framework genuinely suits the company's circumstances. Once adopted, the choice should be applied consistently, and switching frameworks later needs careful thought.

What are the current micro-entity eligibility criteria?

Eligibility is based on the size conditions in force for the relevant accounting period. For periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of these 3 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. These are the headline tests rather than the complete rulebook. Exclusions and additional conditions can still prevent a company from being treated as a micro-entity, so the criteria should be checked against your own circumstances before FRS 105 Micro Entity Accounts are prepared.

What is the difference between FRS 105 and FRS 102?

Both are UK accounting standards, but they are aimed at different sizes of company. FRS 105 is the micro-entities standard: it uses a simpler measurement basis and requires far fewer disclosures, which keeps the accounts concise. FRS 102 is the standard for larger small companies and other entities that do not qualify for, or choose not to use, the micro-entities regime. It permits more accounting options, allows certain items to be revalued or measured at fair value in some cases, and calls for considerably more notes. In practice, FRS 105 accounts carry less information, which may suit some users less well than FRS 102 accounts.

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

If your company prepares FRS 105 Micro Entity Accounts for a financial year, those accounts are normally the ones delivered to Companies House for that year, unless a different filing route applies to your company. Filing accounts is a separate exercise from dealing with the company's Corporation Tax position. The accounts delivered are generally the same accounts that the directors approve and sign on the company's behalf. It is worth confirming the current filing method and format requirements at the time, as the way small and micro-entity accounts are filed has been changing.

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

Yes, they are two distinct things. FRS 105 Micro Entity Accounts are the company's statutory financial statements, prepared under the micro-entities framework and filed at Companies House. A CT600 is a Corporation Tax Return submitted to HMRC, and it deals with how the company's profits are taxed. Both usually start from the same underlying records, but they are not identical: adjustments are commonly needed for items treated differently for tax than for accounts, so the taxable profit on a CT600 is not simply the profit shown in the accounts.

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

As a starting point, we would normally look at your company's accounting records for the period: bank statements and reconciliations, sales and purchase records, payroll information, details of any assets bought or sold, loan and finance agreements, and stock or work-in-progress records where relevant. The previous year's accounts are useful too. It also helps to know whether anything has changed, such as a new income stream, a group relationship or a significant one-off transaction. If you are unsure what is relevant, a short conversation is usually enough to work out exactly what is needed for your FRS 105 Micro Entity Accounts.