─── SPECIALIST MICRO-ENTITY ACCOUNTANTS IN LONDON

FRS 105 Micro Entity Accounts in Longfield

If your company is based in Longfield and you are weighing up how to prepare and file your annual accounts, FRS 105 Micro Entity Accounts are likely to be on your radar. FRS 105 is the financial reporting framework that applies to qualifying micro-entities which choose to adopt the micro-entities regime, and it is deliberately simpler and shorter than the frameworks used by larger companies. That said, it is not a tick-box exercise: eligibility depends on the company meeting the relevant size conditions and not falling foul of any exclusions, and the disclosure requirements, accounting policies and presentation rules still need to be applied correctly to your specific circumstances. Professional preparation of FRS 105 Micro Entity Accounts can help you work from your own financial records to produce a set of financial statements that reflects your company’s position, follows the framework as it applies to you, and is ready for the appropriate filing. Whether you are a newly incorporated Longfield company, a long-standing family business, or a contractor operating through your own limited company, we can talk through your situation and help you understand what is involved before anything is finalised.

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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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 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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 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 Simple Terms

FRS 105 is the UK financial reporting standard written specifically for micro-entities. In plain terms, it is a simplified accounting framework that allows very small companies to prepare annual financial statements with far less detail than the standards used by larger businesses — leaner notes, simpler measurement rules, and a format designed to be proportionate to the size of the company. It exists alongside the UK micro-entities regime, and the two are closely connected: the micro-entities regime determines which companies are allowed to use this lighter-touch approach, while FRS 105 sets out how the accounts should actually be prepared once that regime is chosen. Qualifying companies can choose to apply the micro-entities regime, and FRS 105 applies when that regime is used — it is an available option for eligible companies rather than something forced on every small business, and many micro-entities do find it a good fit. In practice, a set of FRS 105 accounts will typically include a simple profit and loss account and a balance sheet, supported by a small number of notes, prepared from the company’s bookkeeping records. The trade-off is that the accounts give a more limited picture than fuller frameworks would, which is why some companies with lenders, investors or complex arrangements may weigh up whether it is right for them. Understanding what FRS 105 does and does not do is the first step towards deciding whether it suits your Longfield company.

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. Qualification is based on the size conditions attached to the regime. For accounting periods beginning on or after 6 April 2025, a company generally needs to meet at least 2 of the 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. If the regime is available to your company and you decide to apply it, FRS 105 is the framework used to prepare the financial statements. It is important to be careful here, though: size is only part of the picture. The regime carries its own rules and a range of exclusions, and some companies are prevented from using it regardless of how comfortably they sit within the thresholds. Passing the two-of-three test therefore does not, on its own, guarantee eligibility. Companies with more complex arrangements may also conclude that a fuller framework better suits their lenders, investors or other readers, even where the micro-entities regime is technically open to them. For companies in Longfield, the sensible approach is to check eligibility properly against the current rules before any accounts are prepared, rather than assuming that being small means FRS 105 automatically applies.

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 and Accurate Financial Reporting

Preparing FRS 105 Micro Entity Accounts properly starts with good information. We work from your company’s financial records — bank transactions, sales and purchase records, expense details, asset information, director’s loan movements and any other relevant items — and use them to build a set of financial statements that reflects your trading position for the period. The emphasis is on accuracy, consistency and appropriate presentation under the framework, so that the profit and loss account, balance sheet and supporting notes tell a coherent story about the company. It is worth being clear about how the different obligations fit together: preparing the financial statements and filing accounts with Companies House is one exercise, while Corporation Tax is a separate matter dealt with through a Company Tax Return (CT600) submitted to HMRC, and a Confirmation Statement is a further, distinct filing. Each has its own requirements, and none of them replaces the others. Our role is to help you prepare FRS 105 Micro Entity Accounts based on the records you provide and the reporting requirements that apply to your company, and to keep the process understandable from start to finish, with clear, transparent pricing and no jargon for the sake of it. If there are areas of judgement — around accounting policies, what needs disclosing, or how a particular transaction should be treated — we will explain the options and the reasoning so you can make an informed decision.

ICAEW

ACCA

AAT

Get Help With Your FRS 105 Micro Entity Accounts in Longfield

If you would like support with your FRS 105 Micro Entity Accounts, the best place to start is a straightforward conversation about your company. Tell us a little about your business, the accounting period you need to cover, how your bookkeeping is currently kept, and whether you are also looking for help with your Corporation Tax position or other company filings. We can then assess whether the micro-entities regime looks like an appropriate route for your circumstances, explain what information we would need from you, and set out how the work would be handled and what it would involve. There is no need to have everything perfectly organised before you get in touch — part of the value of working with an accountant is getting the records into shape and knowing which questions to ask. Whether you are preparing accounts for the first time, moving from another framework, or simply want a second pair of eyes on what has been done previously, we are happy to discuss your FRS 105 Micro Entity Accounts requirements and help you decide on 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 the UK financial reporting standard that applies to companies using the micro-entities regime. It is a simplified framework, allowing qualifying companies to prepare annual financial statements with reduced disclosure and simpler measurement rules than fuller standards such as FRS 102. A typical set of FRS 105 accounts consists of a profit and loss account, a balance sheet and a small number of supporting notes, prepared from the company's accounting records.

Who can use FRS 105?

FRS 105 is available to companies that qualify as micro-entities and choose to apply the micro-entities regime. Qualification depends on meeting the relevant size conditions and not being caught by any of the exclusions that apply to the regime — for example, certain types of company are excluded regardless of how small they are. Meeting the size thresholds on their own does not automatically mean a company qualifies, so eligibility needs to be considered on the facts of each case.

Is FRS 105 compulsory for every micro-entity?

No. The micro-entities regime is an available accounting regime rather than a mandatory one. A qualifying company can choose to apply it, in which case FRS 105 is used, or it may decide that a fuller framework such as FRS 102 is more appropriate — for instance where lenders, investors or group requirements call for more detailed reporting. It is a decision to make deliberately rather than assume.

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 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. These are the size tests, but other eligibility rules and exclusions also apply, so passing the size tests alone does not guarantee that a company qualifies for the micro-entities regime.

What is the difference between FRS 105 and FRS 102?

FRS 102 is a fuller financial reporting standard used by a much wider range of companies and contains more detailed recognition, measurement and disclosure requirements. FRS 105 is a streamlined alternative designed for qualifying micro-entities. In practice, FRS 105 accounts are shorter and simpler, with fewer notes, while FRS 102 accounts give a more detailed view of the company's financial position. The right choice depends on eligibility, who will be reading the accounts, and whether anyone relying on them needs that extra detail.

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

Where a company prepares accounts under FRS 105, those financial statements generally form the basis of the annual accounts it delivers to Companies House, subject to the filing requirements and any exemptions that apply to the company. Filing accounts is a separate obligation from Corporation Tax. Companies House deals with the accounts filing, while HMRC deals with Corporation Tax through a Company Tax Return (CT600).

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 framework and generally filed with Companies House. A CT600 is a Corporation Tax Return submitted separately to HMRC, which works out the company's tax position for the period. The figures in the accounts will usually inform the tax return, but the two are distinct documents with distinct requirements and deadlines. A Confirmation Statement is a further, separate filing.

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

In most cases we would need your bookkeeping records or accounting software access for the period, bank statements, sales and purchase information, details of expenses, records of any assets bought or sold, information on director's loans or other balances owed, and details of any stock or work in progress. If accounts have been prepared before, the previous year's figures and working papers are useful too. Sending what you have, rather than waiting for everything to be perfect, usually makes the process smoother.

Can a new limited company use FRS 105?

A newly incorporated company can potentially use FRS 105 for its first set of accounts if it qualifies as a micro-entity and chooses to apply the regime. In the early stages, many companies do meet the size conditions, but eligibility still depends on the specific rules and exclusions rather than on being new. It is worth reviewing the position before the first accounts are prepared, because decisions made early on can affect how later periods are handled.