─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Kenilworth

FRS 105 provides the financial reporting framework for qualifying micro-entities that choose to apply the UK micro-entities regime, and it shapes how a small company’s financial statements are put together and presented. If your company is based in Kenilworth and you are weighing up whether the micro-entities regime suits your circumstances, professionally prepared FRS 105 Micro Entity Accounts can help ensure the figures are drawn accurately from your records and presented in line with the framework as it applies to your business. Not every small company qualifies, and applying the regime is a choice rather than an automatic step, so it is worth reviewing your turnover, balance sheet total and employee numbers alongside the wider eligibility rules before deciding. Working with a knowledgeable preparer means your accounts are considered against the relevant requirements, with the detail handled carefully so you can get on with running your company.

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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 streamlined set of rules for the smallest companies, allowing them to prepare simpler financial statements than the fuller standards used by larger businesses. Where a company qualifies for the micro-entities regime and chooses to apply it, FRS 105 is the framework that applies to its accounts. That usually means a shorter balance sheet, a profit and loss account, and limited disclosure notes compared with what a larger company would produce. FRS 105 Micro Entity Accounts prepared for Kenilworth companies are put together on this basis where the regime is appropriate, keeping the focus on a clear and accurate picture of the company’s position without unnecessary complexity. It is important to remember two things: the micro-entities regime is optional, so qualifying is not the same as being required to use it, and FRS 105 is an accounting framework rather than a tax return. A qualifying company may still prefer a fuller standard such as FRS 102 depending on its lenders, investors or group arrangements.

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

FRS 105 is intended for companies that qualify for the UK micro-entities regime and then 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. Meeting those size conditions does not automatically mean a company can use FRS 105, because other eligibility rules and exclusions can apply — certain company types and circumstances are excluded from the regime, and the position can change from one period to the next. It is also a choice: a qualifying company may still prefer to report under a fuller standard such as FRS 102 if that suits its lenders, investors or group arrangements better. For companies in Kenilworth considering FRS 105 Micro Entity Accounts, the sensible starting point is a review of the current period’s figures, the company’s structure and any relevant restrictions, followed by an informed decision on which framework to apply.

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

FRS 105 Micro Entity Accounts need to be built from your company’s own financial records — bookkeeping, bank statements, sales and purchase information, payroll data, and details of assets and liabilities — and presented in line with the reporting requirements that apply to your circumstances. Professional preparation starts with understanding how your business operates, then translating those records into financial statements that reflect what actually happened during the period. The accounts themselves, and the filing of them with Companies House, are separate from your Corporation Tax obligations: a CT600 is a distinct submission made to HMRC, and it is not the same document as your FRS 105 financial statements. Keeping the two clearly separated helps avoid confusion and means each piece of work is approached on its own terms. The aim is careful, accurate reporting based on the information provided, rather than a one-size-fits-all template, with any unusual transactions or judgement areas discussed openly with you as the accounts are prepared.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Kenilworth

If you would like to discuss your FRS 105 Micro Entity Accounts, we are happy to talk through your situation and what the micro-entities regime could mean for your company. Get in touch with a few details — what your business does, your accounting period, and the records you currently hold — and we can consider whether FRS 105 is likely to be the right framework for you, or whether another basis of reporting fits your circumstances better. There is no obligation, and no assumption that every small company qualifies. We will explain the options clearly, set out what information would be needed to prepare the accounts, and let you decide the next step in your own time. Clear, transparent pricing and a straightforward conversation are part of how we work with Kenilworth companies.

─── 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 supports the micro-entities regime. It sets out a simplified basis for preparing financial statements for the smallest qualifying companies, with a shorter balance sheet, a profit and loss account, and limited disclosure notes compared with fuller standards. Where a company qualifies for the micro-entities regime and chooses to apply it, FRS 105 is the framework used to prepare its accounts.

Who can use FRS 105?

Broadly, FRS 105 is available to companies that qualify as micro-entities and decide to apply the micro-entities regime. Qualifying depends on meeting the relevant size conditions and on the wider eligibility rules, and some companies are excluded regardless of their size. It is not a framework that every small company can or should use, so eligibility needs to be checked against the company's specific circumstances for the period in question.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an option rather than an obligation. A company that meets the size conditions may still choose to prepare its accounts under a fuller standard such as FRS 102, which can be sensible where lenders, investors or group requirements are involved. Equally, a company that does not qualify cannot simply adopt FRS 105. The choice sits with the company and its advisers.

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. These size conditions sit alongside other rules and exclusions, so meeting two of the three is a starting point rather than a guarantee of eligibility.

What is the difference between FRS 105 and FRS 102?

Both are UK financial reporting standards, but they are aimed at different sizes of company. FRS 105 is the streamlined framework for qualifying micro-entities that choose the micro-entities regime, involving simpler statements and fewer disclosures. FRS 102 is a fuller standard used by a much wider range of companies and typically involves more detailed recognition, measurement and disclosure requirements. Choosing between them is a question of eligibility first, and then of what best serves the company and the people who rely on its accounts.

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

Where a company prepares FRS 105 Micro Entity Accounts, those accounts would normally be filed with Companies House as part of its annual accounts obligation, subject to the filing requirements that apply to that company and period. Filing the accounts is a separate exercise from working out and submitting Corporation Tax. Exactly what is filed, and in what format, should be considered alongside the company's circumstances rather than assumed.

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 to HMRC, covering the company's tax position for the period. They draw on much of the same underlying information, but they are different documents with different purposes, different audiences and different submission routes, and one does not replace the other.

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

Typically we would need your bookkeeping or accounting records, bank and credit card statements, sales and purchase information, payroll details if you employ staff, details of assets and liabilities, and information about loans, directors' transactions and share capital. Letting us know about anything unusual during the period — a one-off purchase, a change in activity, a new loan — helps ensure the accounts reflect what actually happened. If your records are incomplete, we can discuss what is available and how best to move forward.