─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Iver

FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime for companies in Iver that qualify for it and choose to apply it. FRS 105 is the UK financial reporting standard written specifically for the smallest companies, so it strips reporting back to the essentials while still producing a set of accounts that reflects the company’s financial position. Qualifying is not automatic and not every small company will meet the conditions, so the starting point is always a proper look at your turnover, balance sheet total, employee numbers and any rules or exclusions that may affect you. Professional preparation helps you apply the framework consistently to your own circumstances — from how transactions are recognised and measured through to the disclosures, or limited disclosures, that FRS 105 expects. Working with someone who deals with FRS 105 Micro Entity Accounts regularly means your figures are built up from your records in a structured way, your questions get answered in plain English, and you have accounts you can hand to lenders, directors or other interested parties 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.
  
 
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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 .
  
 
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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.
  
 
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   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: The Micro-Entities Regime in Plain English

FRS 105 is the financial reporting standard that sits behind the UK’s micro-entities regime. In simple terms, it is a simplified accounting framework designed for the very smallest companies, allowing them to prepare accounts that are shorter, more straightforward and less costly to put together than accounts prepared under a fuller framework. If your company qualifies for the micro-entities regime and you decide to use it, FRS 105 is the standard you apply when preparing those accounts — the two go hand in hand. That means simpler measurement rules, a more limited set of notes, and a format that focuses on the key information readers of small company accounts actually need, such as the balance sheet, a small amount of supporting detail and, where applicable, the profit and loss position. What it does not mean is that the numbers can be treated loosely: the accounts still have to be built up properly from your bookkeeping, still have to reflect what actually happened in the business, and still have to be prepared in line with the standard as it applies to your company. Choosing the micro-entities regime is a decision, not a default. Some companies value the simplicity of FRS 105 Micro Entity Accounts in Iver; others need a more detailed framework because of their size, their ownership structure, their lenders or their plans for growth. Understanding which regime fits, and why, is the first useful conversation to have.

Who Can Use FRS 105 in the UK? Qualifying 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. Those figures are the starting point, not the finish line. Other eligibility rules and exclusions can apply depending on what kind of company you are, what it does, and how it is structured, so satisfying the size conditions does not by itself guarantee that the micro-entities regime is available to you. Equally, use of the regime is a choice: a qualifying company may still decide a fuller reporting framework suits it better. If you run a small company in Iver and want to know where you stand, the practical answer comes from looking at your own numbers and circumstances rather than applying a rule of thumb — and that is exactly the kind of assessment that sits behind well-prepared 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 Accounts with Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts properly starts with your financial records. Bank statements, sales and purchase information, payroll details, expense records, asset purchases, loan agreements and any other supporting documentation are reviewed and used to build up a set of figures that reflect your company’s position for the period. From there, the accounts are prepared in line with the requirements of FRS 105 as they apply to your company, presented in the expected format, and kept consistent year on year so comparisons remain meaningful. It is worth separating out the different pieces of the picture, because they are often confused. The FRS 105 financial statements are the accounting and reporting side — the balance sheet and supporting information prepared under the micro-entities regime. Filing those accounts with Companies House is a company law obligation that flows from preparing them. A Corporation Tax Return (CT600) is entirely separate: it is a tax filing submitted to HMRC, calculated on the company’s taxable profits, and it is not the same document as the accounts and is not submitted to the same body. A Confirmation Statement is separate again, confirming company details rather than reporting financial performance. If you would rather not keep all of those plates spinning, professional preparation of your FRS 105 Micro Entity Accounts can take the accounting and reporting element off your desk, leaving you with clear figures and a clear understanding of what needs to be filed where and by whom.

ICAEW

ACCA

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Get Help with Your FRS 105 Micro Entity Accounts in Iver

If you are weighing up whether FRS 105 is the right fit for your company, or you simply want the accounts prepared and explained without the jargon, get in touch and tell us about your business. It helps to have a few things to hand — your latest set of accounts if you have one, details of your turnover and balance sheet position, your employee numbers, and a sense of what you need the accounts for, whether that is filing, a lender, a mortgage application or your own peace of mind. Share the shape of your company, any changes in the period, and any questions you have about the micro-entities regime, and we can talk through your circumstances properly and set out the sensible next steps.

─── 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 companies using the micro-entities regime. It is a simplified framework, which means fewer measurement complications and a much shorter set of notes than a fuller accounting standard would require. If your company qualifies for the micro-entities regime and chooses to use it, FRS 105 is the standard you follow when preparing your annual accounts.

Who can use FRS 105?

It is available to companies that qualify as micro-entities and that choose to apply the micro-entities regime. Qualification is based on size conditions, but size alone is not the whole story — certain types of company are excluded, and other rules can affect eligibility. That is why the sensible approach is to check your specific circumstances rather than assume you either do or do not qualify.

Is FRS 105 compulsory for every micro-entity?

No. Qualifying for the micro-entities regime does not force you to use it. It is an available accounting regime, and applying it is a choice. Some companies prefer the extra detail that comes with a fuller framework, whether because of their lenders, their investors, their group structure or their longer-term plans. FRS 105 applies when the micro-entities regime is the route you decide to take.

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. Meeting the size conditions does not automatically settle the question on its own, because other eligibility rules and exclusions can still apply, so eligibility should be confirmed against your company's particular situation.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they sit at different levels of complexity. FRS 105 is the micro-entities standard, with simplified measurement and much reduced disclosure. FRS 102 is a fuller standard used by a much wider range of companies, including many small and medium-sized businesses, and it generally requires more detailed accounting treatment and more extensive notes. The right one depends on whether your company qualifies for and chooses the micro-entities regime.

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

Yes — where accounts are due to be filed, micro-entity accounts prepared under FRS 105 form part of that filing obligation. It is worth noting that the accounts filing and your Corporation Tax position are handled separately, and that a Confirmation Statement is a different filing again. Keeping track of which document goes where is one of the practical reasons many directors ask for help with the reporting side.

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

It is completely separate. FRS 105 Micro Entity Accounts are the financial statements prepared under the micro-entities regime, dealing with how the company's results and position are reported. A CT600 is the Corporation Tax Return submitted to HMRC, dealing with the tax the company owes. They draw on much of the same underlying information, but they are different documents, prepared for different purposes and submitted to different bodies.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use the micro-entities regime and FRS 105 if it meets the relevant conditions and chooses to apply it, which many very small companies do because of the lighter reporting burden. That said, a first set of accounts still needs to be prepared properly, and there may be judgements to make about the company's position and plans, so it is worth discussing before you start.

What information is needed to prepare FRS 105 accounts?

Typically you would provide bank statements and reconciliations, sales and purchase records, payroll information, details of any assets purchased or sold, loan and finance agreements, expense records, and the previous year's accounts if there are any. Anything that supports the numbers in the period is useful, including notes on unusual or one-off transactions, so the accounts can be built up accurately rather than estimated.