FRS 105 micro-entity accounts in Kenley

FRS 105 accounts for Kenley 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 Kenley businesses: local facts

Kenley is in the Croydon council area, in the London region. In Croydon, 13,855 of the 14,955 VAT- and PAYE-registered businesses in the 2026 ONS count have fewer than ten employees, around 93%. If you run a company in Kenley, you are in good company.

The largest groups of micro businesses in Croydon are construction (2,370), professional, scientific and technical services (2,265) and wholesale and retail (1,995). For construction companies in Kenley, 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 17% of the local micro-business base.

Zooming in, the ONS neighbourhood area around Kenley (Croydon 042) has 285 VAT- or PAYE-registered businesses, and 265 of them (93%) are micro businesses.

Croydon ranks 194 of the 1105 areas we serve by number of micro businesses, and its micro share of 93% is above the 89% average across them. In professional, scientific and technical services (2,265 micro businesses in Croydon), 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 (1,995 micro businesses in Croydon), 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.