─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Lanchester

FRS 105 Micro Entity Accounts are the statutory financial statements prepared under the UK micro-entities regime by companies that qualify for it and choose to apply it. For directors in Lanchester, that choice can simplify the year-end process, because FRS 105 is a streamlined reporting framework built around the needs of the smallest companies rather than larger trading entities. Professional preparation helps make sure the accounts are built from your actual financial records, presented in line with the framework, and ready for the appropriate record-keeping and filing steps. It also gives you the chance to ask questions about eligibility, disclosure and how the figures are presented before anything is finalised. Meeting the size conditions is not the whole story, so eligibility should always be checked against your company’s specific circumstances and the period in question.

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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 
    
 
 
 
   
 
 
       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.
  
 
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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

FRS 105 Explained: What the Micro-Entities Regime Means in Practice

FRS 105 is the financial reporting standard that sits behind the UK’s micro-entities regime. In plain terms, it is a set of rules for preparing annual accounts that lets qualifying companies produce shorter, simpler financial statements than those prepared under a larger framework. A company that meets the micro-entity conditions does not have to use it: the micro-entities regime is a choice, and FRS 105 applies once that choice has been made. Under FRS 105, the accounts typically include a simple balance sheet with limited notes, and figures are generally kept on a historical cost basis, as revaluation and fair value accounting are not permitted under the standard. For a small limited company in Lanchester, the appeal is usually straightforward — clear, consistent financial statements without the extra complexity that comes with a fuller reporting framework, while still giving a fair picture of the company’s position at the period end.

Who Can Use FRS 105 in the UK?

FRS 105 is intended for companies that qualify for the UK 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. Those conditions are a starting point rather than the whole picture. Certain types of company are excluded from the regime regardless of size, other eligibility rules can apply, and the way the tests are measured depends on the company’s own circumstances. Meeting the size thresholds therefore does not automatically mean FRS 105 is available, and it certainly does not mean it has to be used. For directors in Lanchester, we help work through these points before the accounts are prepared, so the framework chosen genuinely suits the company and the period in question.

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.

Accurately Prepared FRS 105 Micro Entity Accounts for Your Company

Well-prepared FRS 105 Micro Entity Accounts start with accurate financial records. We work from the information you provide — bank and card statements, sales and income details, purchase and expense records, payroll information and any other relevant documents — to build a set of financial statements that reflects your company’s position for the period. The accounts are then prepared in line with the requirements of the micro-entities regime as they apply to your circumstances, and we can talk you through the figures as we go so you understand what is being reported and why. Filing accounts with Companies House is a separate step from meeting your Corporation Tax obligations, and a Corporation Tax Return (CT600) is submitted to HMRC independently of the accounts. Keeping those two processes clearly separated, properly documented and correctly recorded is part of what professional preparation is for.

ICAEW

ACCA

AAT

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

If your company may qualify for the micro-entities regime, or you simply want to understand whether FRS 105 is the right fit, get in touch to discuss your FRS 105 Micro Entity Accounts. Tell us about your business, your trading period and the records you hold, and we can talk through eligibility, what the accounts will include and the information we need from you to get started. Whether you are preparing accounts for the first time, moving from a different reporting framework, or picking up after a change in circumstances, a short conversation is usually enough to clarify the next steps and the choices available to you.

─── 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 financial reporting standard used for the UK micro-entities regime. It sets out how qualifying companies can prepare simplified annual accounts and financial statements — typically a short balance sheet with limited notes — rather than the fuller disclosures required under larger frameworks. It is an accounting framework rather than a tax filing, so it deals with the preparation of the accounts themselves and not with your Corporation Tax position.

Who can use FRS 105?

FRS 105 is available to companies that qualify as micro-entities and choose to apply the regime. In broad terms that means falling within the micro-entity size limits and not being excluded from the regime for another reason. A newly incorporated company can use FRS 105 where it meets the conditions and elects to do so. Qualifying is not the same as being required to use it — the regime is optional.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting framework, not a mandatory one. A company that qualifies can choose to apply it, which brings FRS 105 into play, or it can prepare its accounts under a larger framework such as FRS 102. The decision is usually made with the directors' own reporting needs and those of anyone with an interest in the accounts in mind.

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 during the period. The way these tests are measured depends on your company's circumstances, and other eligibility rules and exclusions can apply on top of the size conditions. Meeting the size thresholds does not automatically mean the micro-entities regime is available.

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 micro-entities regime's framework and is deliberately minimal, with fewer disclosures, simpler measurement, and no revaluation or fair value accounting. FRS 102 is a fuller framework used by larger small companies and others, requiring more disclosures and offering more accounting policy options. Moving between the two can change how the accounts look even when the underlying numbers have not changed.

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

Where a company prepares FRS 105 Micro Entity Accounts, those accounts form the basis of the annual accounts filed at Companies House for the relevant period, alongside any other documents required at that time. Filing the accounts and dealing with Corporation Tax run through different routes: accounts go to Companies House, while tax matters sit with HMRC. It is worth remembering that accounts filed at Companies House are placed on the public register.

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

Yes. The CT600 is a Corporation Tax filing submitted to HMRC, while FRS 105 accounts are the financial statements prepared under the micro-entities regime and filed with Companies House. The two draw on the same underlying financial records, but they serve different purposes and follow different rules, so taxable profit adjustments and similar items can mean the figures are not identical across both.

What information do you need to prepare FRS 105 Micro Entity Accounts?

Usually we need your company's records for the period: bank and card statements, sales invoices or income summaries, purchase and expense records, payroll information, and details of any assets, loans or share capital changes. The previous year's accounts are helpful where they exist, as is anything that explains an unusual transaction or a change in the business during the period. If something is missing, we can tell you what would help complete the picture before the accounts are prepared.