─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Lewes — Clear, Professionally Prepared Micro-Entity Reporting

If your company is based in Lewes and you are weighing up how to report your financial results, FRS 105 Micro Entity Accounts may be the right framework for you. FRS 105 provides the financial reporting framework for qualifying micro-entities that choose to apply the micro-entities regime, which is a simplified basis of accounting designed for genuinely small companies. Choosing that regime is a decision, not an automatic outcome: a company must first fall within the micro-entities rules, and it can then elect to use FRS 105 when preparing its annual accounts. Professional preparation helps ensure your FRS 105 Micro Entity Accounts are put together appropriately for your company’s particular circumstances — your trading activity, your balance sheet, any loans or fixed assets, and the way your records have been kept — rather than being forced into a template that does not quite fit. In Lewes, that often means working with an adviser who understands owner-managed businesses, can explain the choices in plain English, and can keep the accounts, the filing position and your wider obligations clearly separated in your mind. The aim is straightforward: accurate, understandable accounts that reflect what your business has actually done.

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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.
  
 
      Posted on Google  
   
   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 UK Micro-Entities Regime Means in Practice

FRS 105 is one of the financial reporting standards used in the UK, and it sits at the simplest end of the scale. In everyday terms, it is the rulebook used to prepare annual accounts for companies that qualify as micro-entities and that decide to adopt the micro-entities regime. When a qualifying company chooses that regime, FRS 105 applies to the preparation of its financial statements. Because FRS 105 is deliberately simplified, the accounts tend to be shorter and more straightforward than those prepared under other standards: there is generally less disclosure, fewer accounting policy choices, and a strong emphasis on recording things at cost rather than at estimated current value. For a small owner-managed company, that can mean accounts that are easier to read, easier to explain to a bank or a landlord, and less time-consuming to produce. It is worth being clear about what FRS 105 is not. It is not a tax return, it is not a set of filing forms, and it is not something every small company automatically falls into. It is an accounting framework tied to the micro-entities regime, and it is used because a company both qualifies for that regime and has chosen to apply it. Understanding which regime you are using — and why — is the starting point for everything that follows, from the numbers on the balance sheet to what ultimately gets filed.

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

FRS 105 is designed for companies that qualify for the UK micro-entities regime and that choose to apply it. The first question is eligibility, and the second is preference — because a qualifying company is not obliged to adopt the regime. On eligibility, for accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the 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 are the headline tests, and they are often the easiest part to check. However, size alone does not settle the matter. Additional eligibility rules and exclusions can apply, and some companies — for example certain types of investment undertaking or companies within particular regimes — may be excluded regardless of how small they are. Companies with unusual structures, group relationships or non-standard activities therefore need their position reviewed on its own facts. If your company is in Lewes and you think FRS 105 may be appropriate, the sensible approach is to confirm eligibility first, then consider whether adopting the micro-entities regime genuinely gives you the reporting you want.

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 good records and a clear understanding of the reporting requirements that apply to your company. We work from your bookkeeping, bank statements, sales and purchase records, payroll information and asset details to build a set of financial statements that reflect your actual position — an income statement, a balance sheet, and the supporting notes that FRS 105 requires. Those financial statements are then kept distinct from your other obligations. Filing accounts with Companies House is one exercise; preparing and submitting a Corporation Tax Return (CT600) to HMRC is a separate one, with its own rules, computations and deadlines. Confirmation Statements, VAT returns and payroll filings are separate again. Keeping these strands clearly separated matters, because a figure that is right for accounts purposes is not always the figure that belongs on a tax return. Our role is to prepare your FRS 105 Micro Entity Accounts carefully and consistently, to explain the basis on which they have been prepared, and to help you understand what is being filed and why. We do not claim that any filing is guaranteed to be accepted, and no filing is reviewed or approved in advance by Companies House or HMRC — but well-prepared, well-documented accounts put you in the strongest position to meet your obligations with confidence.

ICAEW

ACCA

AAT

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

If you would like help with your FRS 105 Micro Entity Accounts, we are ready to talk through your situation. Tell us about your company — what it does, how long it has been trading, roughly what its turnover and balance sheet look like, and how your records are currently kept — and we can assess whether the micro-entities regime is likely to be available to you and what preparing FRS 105 accounts would involve. Bring along your latest trial balance, previous accounts if you have them, and any questions you have been carrying around, whether that is about disclosures, filing dates, or how your accounts relate to your Corporation Tax Return. There is no obligation and no jargon: just a practical conversation about your circumstances and clear, transparent pricing for the work involved. Get in touch and we will help you work out the next step.

─── 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 a UK financial reporting standard for micro-entities. It sets out how qualifying companies that adopt the micro-entities regime should prepare their annual financial statements. It is a deliberately simplified framework: fewer disclosures, fewer accounting options, and a general expectation that items are recorded at cost rather than at estimated current value. The result is usually a shorter, more readable set of accounts than you would see under a fuller standard.

Who can use FRS 105?

FRS 105 is intended for companies that qualify for the UK micro-entities regime and that choose to apply it. Qualifying is not just about size — there are additional eligibility rules and exclusions, and some companies are prevented from using the regime regardless of how small they are. It is also a choice: a qualifying company may instead apply a fuller reporting framework. That is why it is worth checking your specific circumstances rather than assuming FRS 105 applies to you.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime for qualifying companies, not a mandatory one. If your company qualifies, you can decide whether to apply the micro-entities regime and therefore FRS 105, or to use a different framework. The decision can be influenced by your lenders, investors, group arrangements and how much detail you want the accounts to show, so it is worth considering the alternatives before committing.

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 those conditions does not automatically make a company eligible — other rules and exclusions can apply, and certain types of company are excluded from the regime altogether. Eligibility therefore needs to be confirmed against your own facts, not just the headline figures.

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 102 offers more measurement choices — including fair value options for certain items — and requires more extensive disclosures. FRS 105 strips much of that back, focusing on a simpler, cost-based presentation with limited note disclosures. FRS 105 is available to qualifying micro-entities that adopt the micro-entities regime; companies that do not qualify, or that choose a fuller framework, will typically report under FRS 102 or another applicable standard.

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

Where a company uses the micro-entities regime, its annual accounts — prepared under FRS 105 — form the basis of the accounts it delivers to Companies House, subject to the filing requirements that apply to it. Filing accounts is a separate exercise from preparing them, and it is separate again from your Corporation Tax Return. It is important to know which documents go where, so that accounts prepared for filing are consistent with the records behind them.

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

Yes, they are two distinct things. FRS 105 accounts are your company's financial statements, prepared under the micro-entities regime and used for reporting and filing purposes. A CT600 is a Corporation Tax Return submitted to HMRC, which applies tax rules — such as add-backs and capital allowances — that do not form part of the accounts themselves. The accounts often inform the tax return, but the figures are not always identical, and each has its own preparation and submission process.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105, but eligibility is assessed against the rules for the period concerned rather than simply assumed on day one. A first set of accounts may cover a period of unusual length or modest activity, and other eligibility conditions and exclusions still need to be checked. If you are starting out in Lewes and want to know whether the micro-entities regime is likely to suit you, it is worth asking before your first accounts are prepared.