─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Leatherhead

FRS 105 Micro Entity Accounts are prepared under the UK financial reporting framework that applies to qualifying micro-entities which choose to adopt the micro-entities regime. For a small company in Leatherhead, that choice affects how the statutory financial statements are put together, what the balance sheet and notes are expected to contain, and how the accounts are presented for filing. Professional preparation helps to ensure the accounts are built up correctly from the company’s own records, reflect its actual circumstances, and are consistent with the reporting requirements that apply to it — rather than being squeezed into a template that does not quite fit. It is worth being clear that FRS 105 is not automatic: a company must qualify for the micro-entities regime, and the directors must decide to apply it, before FRS 105 becomes the relevant framework.

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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  
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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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 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 for Micro-Entities

FRS 105 is the financial reporting standard that sits behind the UK’s micro-entities regime. In plain terms, it is a simplified accounting framework designed for the smallest companies, allowing eligible businesses to prepare financial statements in a more streamlined way than they would under a fuller standard. A company that qualifies as a micro-entity can choose to apply the micro-entities regime, and when that choice is made, FRS 105 is the framework used to prepare the accounts. That generally means a simpler balance sheet, limited note disclosures, and less of the detailed accounting treatment that larger companies have to consider. FRS 105 is a reporting framework rather than a tax return — it shapes the company’s financial statements, while tax obligations are dealt with separately. For a Leatherhead company weighing up its options, the key point is that eligibility and choice go together: qualify first, decide next, then prepare the accounts on the right basis.

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. Eligibility is not just about being small in a general sense — it is set by specific size conditions. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of 3 applicable 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 conditions is usually the starting point, but it is not the whole picture. Certain rules and exclusions can prevent a company from using the regime even where it looks small enough, and some entity types simply do not qualify. That is why FRS 105 is best approached as a two-part question: does the company qualify, and do the directors want to apply the micro-entities regime? Only when both answers point the same way does FRS 105 become the framework for the accounts. If you are unsure where your Leatherhead company stands, a short review of your figures and circumstances will usually clarify matters.

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 in Leatherhead

Well-prepared FRS 105 Micro Entity Accounts start with accurate bookkeeping and a clear understanding of the company’s circumstances. Accounts are prepared from the company’s financial records — bank transactions, sales and purchase information, payroll details, asset records and any relevant agreements — and are then presented in line with the reporting requirements that apply under the micro-entities regime. The preparation of the financial statements and the filing of those accounts with Companies House are two distinct steps, and both are separate again from Corporation Tax: a CT600 is a Corporation Tax Return submitted to HMRC, not a set of statutory accounts, even though the two are related and should tell a consistent story. Our role is to prepare the accounts carefully and explain the basis on which they have been produced, so the directors understand what has been filed and why. No accounting provider can guarantee a particular filing outcome or a regulator’s response, but careful, methodical preparation gives the best foundation for accurate reporting.

ICAEW

ACCA

AAT

Talk to Us About Your FRS 105 Micro Entity Accounts

If you run a small limited company in Leatherhead and want to understand whether FRS 105 Micro Entity Accounts are the right fit, get in touch and we will talk it through with you. We can look at your company’s turnover, balance sheet position and employee numbers, along with the other eligibility rules and exclusions that may apply, and explain what the micro-entities regime would mean in practice for your reporting. Bring along your financial records, your latest accounts if you have them, and any questions about how your accounts and your Corporation Tax Return fit together. From there we can set out a clear, transparent approach to preparing your accounts, with fixed-fee options available, so you know what is involved before anything is filed.

─── 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 qualifying micro-entities which choose to use the micro-entities regime. It provides a simplified basis for preparing statutory financial statements, typically involving a straightforward balance sheet, limited disclosures and reduced accounting choices compared with fuller reporting frameworks. It is an accounting and reporting framework, so it governs how the accounts are prepared rather than how the company's tax is calculated.

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 conditions are subject to the relevant rules, and certain companies are excluded from the regime regardless of their size — for example, some regulated or financial-sector entities. Meeting the size conditions alone does not automatically confirm eligibility, so it is worth checking the detail for your own company before deciding on a framework.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting framework rather than an obligation. A company that qualifies as a micro-entity can generally choose whether to apply it, and FRS 105 applies when that regime is selected. Some qualifying companies prefer to use a fuller framework such as FRS 102, whether because of the way their accounts are used, the expectations of lenders or investors, or simply the directors' preference. The decision is normally taken with the reporting period as a whole in mind.

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 framework, with simplified recognition and measurement rules and much lighter disclosure requirements. FRS 102 is a fuller standard used by a much wider range of companies, and it allows or requires more detailed accounting treatments and notes. For a company that qualifies as a micro-entity, applying FRS 105 can reduce the amount of accounting work and disclosure involved, while FRS 102 may be more appropriate where more detailed reporting is wanted or expected.

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

A company that prepares FRS 105 Micro Entity Accounts will still normally need to file statutory accounts with Companies House, alongside its other filing obligations. The accounts filed are the company's own accounts, prepared under the framework it has chosen; filing them does not mean they have been approved, reviewed or endorsed by Companies House, as the registrar's role is to place qualifying filings on the public record. The format and content of the filing should follow the requirements that apply to micro-entity accounts.

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

Yes. FRS 105 Micro Entity Accounts are the company's statutory financial statements, while a CT600 is a Corporation Tax Return submitted to HMRC. They are prepared for different purposes and go to different recipients, although the figures in each should be consistent with one another and with the company's underlying records. Preparing the accounts does not itself file the Corporation Tax Return, and submitting a CT600 does not satisfy the accounts filing requirement — both need to be dealt with separately.

Can a new limited company use FRS 105?

A newly incorporated company can use FRS 105 if it qualifies as a micro-entity and chooses to apply the micro-entities regime. In practice, a first accounting period may be shorter or longer than twelve months, and the size conditions are assessed on the basis that applies to that period, so the position is worth checking rather than assumed. Many small, newly formed companies with modest activity do fall within the size conditions, but eligibility also depends on the rules and exclusions, so it is sensible to confirm the position before preparing the first set of accounts.

What information is needed to prepare FRS 105 accounts?

Typically we would need the company's bookkeeping or accounting records for the period, bank and credit card statements, sales and purchase information, payroll details and employee numbers, details of any assets owned, and information on loans, directors' balances or other agreements. It also helps to have the previous period's accounts, the company's registration details, and any relevant correspondence. With those records in place, the accounts can be prepared on the correct basis and the figures can be checked against the company's other reporting.